9650 Green Cypress Ln #22 · Buckingham, FL 33905

$109,900

2 bd · 2.0 ba · 985 sqft · Condo public records · 109 Days on market

Built 1986 $477/mo HOA · 25% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

COZY CONDO HAS WOODED PRESERVE VIEW. This lovely unit in Pine Ridge at Fort Myers Village, a gated community just east of exit 141 on I-75, features vaulted ceiling with skylight; tile floors with decorative area rugs; tile countertops and backsplash; two bedrooms with nice laminate flooring; walk-in closet; two remodeled bathrooms and more. This well maintained home is an ideal winter home at a very affordable price in a very friendly community featuring a heated olympic size pool and spa. This relaxing area has plenty of room for all with many tables and chairs that will accomodate residents and guests alike. Come meet your new neighbors and enjoy the Florida sunshine.

Key facts

• Gated community
• Pine ridge condo
• Tiled lanai

Tags

• PINE RIDGE CONDO
• GATED COMMUNITY
• SPARKLING LAKE WALK PATH
• HEATED COMMUNITY POOL
• TILED LANAI
• PRIVATE PRESERVE VIEWS

Property features AI

Finance

• Financial info: Pets allowed conditionally (call) — maximum 1 pet up to 25 lbs
• HOA & community: Homeowners association (quarterly fee); Quarterly association fee; Association covers management, cable TV, insurance, legal/accounting, grounds maintenance, recreation facilities, reserve fund, sewer, street lights, security, trash and water; Community amenities include clubhouse, pool, spa/hot tub, tennis and pickleball courts, bocce, shuffleboard, trails, sidewalks, barbecue and picnic areas, bike storage, vehicle wash area, library, and management; 462 units in the community; Gated community with street lights; Senior community

Exterior

• Parking: Assigned parking; Common paved parking; One space assigned
• Security: Gated community with security gate; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Underground utilities
• Home design: 3 stories; Entry level: 3; Resale property; Faces north
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Community pool; Sprinkler/irrigation system; Reclaimed water irrigation source; Balcony; Screened porch; Zero lot line; Automatic sprinklers; Private paved road; Private maintained road; South exposure; Has view

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Disposal
• Bedrooms: Guest quarters
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Vaulted ceilings; Cable TV; High-speed internet; Walk-in closets; Window treatments; Single-hung windows; Furnishing negotiable; Family/Dining room; Living/Dining room; Separate shower (shower only)
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.6% in Buckingham — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#413 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, schools F, amenities F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-3.0%/yr); 763 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.71% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.99%
• DSCR: 1.62
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-197
• Equity at exit: $16,386

10-year hold

• IRR: 4.9%
• Equity multiple: 1.29×
• Total profit: $9,037
• Equity at exit: $9,502

Cash invested: $30,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 763
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$576
• Tax from tax record: −$24 /mo · $287/yr
• Insurance: −$46
• HOA: −$477
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $359

Break-even live

Break-even rent $1,422

Max offer price $109,900

Occupancy floor 76%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9570 Green Cypress Ln #13 Fort Myers, FL	2.0	2.0	985	$2,800	$2.84	23d	1	0.09mi
9540 Green Cypress Ln #11 Fort Myers, FL	2.0	2.0	988	$2,500	$2.53	23d	1	0.12mi
4681 Lakeside Club Blvd #11 Fort Myers, FL	2.0	2.0	964	$1,300	$1.35	23d	1	0.13mi
9950 Sailview Ct #2 Fort Myers, FL	2.0	2.0	964	$1,500	$1.56	23d	1	0.25mi
9970 Sailview Ct #9 Fort Myers, FL	2.0	2.0	988	$1,150	$1.16	23d	1	0.28mi
9970 Sailview Ct #9 Fort Myers, FL	2.0	2.0	988	$1,100	$1.11	3d	1	0.28mi
141 Schneider Dr Fort Myers, FL	3.0	2.0	1048	$2,500	$2.39	23d	1	1.01mi
4900 Tice St Unit 5 Fort Myers, FL	2.0	1.0	700	$800	$1.14	23d	1	1.02mi
328 Bellair Rd Fort Myers, FL	2.0	1.0	900	$1,500	$1.67	23d	1	1.11mi
215 Delray Ave Fort Myers, FL	2.0	1.0	740	$1,450	$1.96	14d	1	1.19mi
4724 Tice St Fort Myers, FL	2.0	1.0	890	$1,100	$1.24	16d	1	1.26mi
326 Chattanooga Dr Fort Myers, FL	2.0	1.0	895	$1,475	$1.65	21d	1	1.29mi
243 Tangerine Dr Fort Myers, FL	2.0	1.5	720	$1,425	$1.98	23d	1	1.30mi
464 Carolina Ave Fort Myers, FL	2.0	1.0	750	$975	$1.30	19d	1	1.32mi
464 Carolina Ave Unit A Fort Myers, FL	2.0	1.0	714	$1,150	$1.61	3d	1	1.32mi
580 Thomas Ave Fort Myers, FL	2.0	1.0	900	$1,200	$1.33	23d	1	1.37mi

HOA detail condo

• Monthly dues: $477 · $5,724/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-17
   days on market $109,900 Active 109 DOM
2. 2026-06-16
   days on market $109,900 Active 108 DOM
3. 2026-06-16
   price $109,900 Active 107 DOM
4. 2026-06-15
   days on market $119,900 Active 107 DOM
5. 2026-06-13
   days on market $119,900 Active 105 DOM
6. 2026-06-10
   days on market $119,900 Active 102 DOM
7. 2026-06-09
   days on market $119,900 Active 101 DOM
8. 2026-06-07
   days on market $119,900 Active 99 DOM
9. 2026-06-02
   days on market $119,900 Active 94 DOM
10. 2026-06-01
    days on market $119,900 Active 93 DOM
11. 2026-06-01
    days on market $119,900 Active 92 DOM
12. 2026-04-12
    price $119,900
13. 2026-03-13
    price $128,500
14. 2026-02-28
    listed $129,900 Active
15. 2017-05-10
    soldstatus $79,900
16. 2015-03-02
    price $49,900 679-char remark

    Show marketing remark (679 chars)

    COZY CONDO HAS WOODED PRESERVE VIEW. This lovely unit in Pine Ridge at Fort Myers Village, a gated community just east of exit 141 on I-75, features vaulted ceiling with skylight; tile floors with decorative area rugs; tile countertops and backsplash; two bedrooms with nice laminate flooring; walk-in closet; two remodeled bathrooms and more. This well maintained home is an ideal winter home at a very affordable price in a very friendly community featuring a heated olympic size pool and spa. This relaxing area has plenty of room for all with many tables and chairs that will accomodate residents and guests alike. Come meet your new neighbors and enjoy the Florida sunshine.

17. 2011-03-16
    soldstatus $51,000
18. 2011-03-14
    soldstatus $51,000 679-char remark

    Show marketing remark (679 chars)

    COZY CONDO HAS WOODED PRESERVE VIEW. This lovely unit in Pine Ridge at Fort Myers Village, a gated community just east of exit 141 on I-75, features vaulted ceiling with skylight; tile floors with decorative area rugs; tile countertops and backsplash; two bedrooms with nice laminate flooring; walk-in closet; two remodeled bathrooms and more. This well maintained home is an ideal winter home at a very affordable price in a very friendly community featuring a heated olympic size pool and spa. This relaxing area has plenty of room for all with many tables and chairs that will accomodate residents and guests alike. Come meet your new neighbors and enjoy the Florida sunshine.

19. 2005-02-18
    soldstatus $85,000
20. 1987-06-12
    soldstatus $52,100

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $287 · $24/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$625/yr (+$52/mo · 217.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,511
• − Mortgage interest: −$6,156
• − Property taxes: −$287
• − Insurance: −$550
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − HOA: −$5,724
• − Depreciation: −$3,197
• Taxable income: $2,995
• Est. tax owed @ 24.0%: −$719
• After-tax cash flow: $3,588/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Buckingham

• Score: 70/100
• State rank: #413
• US rank: #7367

Category grades

Amenities F Commute F Cost of living D+ Crime A+ Employment A+ Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• City population: 40,908
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1358.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+130.1% since first listed

9 events — show timeline

• 2026-04-12 Price Changed $119,900 FORTMLS
• 2026-03-13 Price Changed $128,500 FORTMLS
• 2026-02-28 Listed $129,900 FORTMLS
• 2017-05-10 Sold (Public Records) $79,900 Public Records
• 2015-03-02 Price Changed $49,900 FORTMLS
• 2011-03-16 Sold (Public Records) $51,000 Public Records
• 2011-03-14 Sold (MLS) $51,000 FORTMLS
• 2005-02-18 Sold (Public Records) $85,000 Public Records
• 1987-06-12 Sold (Public Records) $52,100 Public Records

Property tax history

-1.3%/yr

Latest (2025): $287 · +7.8% YoY. Source: county tax records.