16225 Asheboro Ct · Iona, FL 33908

$165,000

2 bd · 2.0 ba · 1,014 sqft · Manufactured public records · 97 Days on market

Built 1985 5,749 sqft lot Est $164k · at est. $175/mo HOA · 8% of rent

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Why this score? — see what drove the C+ 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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +7.7/10.0
• ARV discount +7.3/15.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW!!!! THE SELLER HAS PRICED THIS TO SELL NOW!!!Great home in desirable 55+ lee Plantation! This community is close to the beaches, shopping and dining. Lee Plantation is a lifestyle community that will fill your days and nights with fun. The clubhouse features a full social calendar. The social committee has everything from cards, day trips, potlucks and dances. Lee Plantation also has a community pool, tennis, shuffleboard, and so much more. This home is a 2 bedroom and 2 bathroom with a Florida room. The kitchen has newer appliances and an open feel to it. The bedrooms are a nice size and the furniture is available for sale. Outside, a shed provides storage that is protected. You won't need a lawn mower because your HOA does that for you leaving more free time to play! Call for for your showing today.

Key facts

• Resort style pool
• Outdoor hot tub
• Tennis courts

Tags

• RENOVATED KITCHEN
• ENHANCED LAUNDRY ROOM
• NEW ROOF
• RESORT STYLE POOL
• OUTDOOR HOT TUB
• TENNIS COURTS

Property features AI

Finance

• Other: Community pool
• Financial info: Pet policy may be conditional — typically 1 pet up to 25 lbs
• HOA & community: Homeowners association with quarterly fee ($525); Association covers management, grounds maintenance, recreation facilities, road maintenance, and street lights; Community amenities include clubhouse, fitness center, library, pool, spa/hot tub, and tennis courts; Community has approximately 150 units; Senior community

Exterior

• Parking: Attached carport (1 covered space); Has carport (1 space)
• Security: Gated community
• Utilities: Public water; Public sewer; Cable available; Municipal irrigation
• Home design: Single-story; Entry level: 1; Faces west; Exposure: East
• Construction: Metal roof; Aluminum siding; Modular/prefab construction; Rectangular lot; Paved road
• Exterior features: Screened lanai/porch; Porch; Storage; Workshop

Interior

• Kitchen: Refrigerator; Range; Microwave; Dishwasher
• Bedrooms: Master bedroom; Additional bedroom (12 x 11)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; Separate shower
• Heating & cooling: Central air; Ceiling fans; Electric cooling
• Interior features: Furnished; Dual sinks in bathroom; Living and dining room area; Separate shower (shower only); Window treatments; Single-hung windows
• Laundry & utility: Washer; Dryer; Laundry located inside (utility room)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $-53 ($-637/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (5.7% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.1% in Iona — 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 72/100 on livability (#359 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: schools D-, amenities F, commute 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 (-1.2%/yr); 1244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $5k 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 97 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $55k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.70%
• DSCR: 1.43
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $164,268
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10503 Winchester Ct	0.08mi	2/2.0	1,069 (+5%)	1mo	$169,500	$159	87
287 Dillard Ave	0.41mi	2/2.0	921 (-9%)	2mo	$190,000	$206	64
318 Rosa Lee Ave	0.43mi	2/2.0	1,080 (+6%)	7mo	$239,500	$222	63
16070 Siesta Dr	0.67mi	2/2.0	950 (-6%)	18mo	$154,000	$162	43
42 Ronald Dr NE	0.58mi	2/1.0	872 (-14%)	12mo	$90,000	$103	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -23.6%
• Equity multiple: 0.22×
• Total profit: $-35,864
• Equity at exit: $24,602

10-year hold

• IRR: -40.4%
• Equity multiple: -0.25×
• Total profit: $-57,723
• Equity at exit: $14,266

Cash invested: $46,200 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1244
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,091 high
• Mortgage (P&I): −$865
• Tax from tax record: −$169 /mo · $2,030/yr
• Insurance: −$69
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$175
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-53

Break-even live

Break-even rent $2,158

Max offer price $155,629

Occupancy floor 98%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16645 Lake Circle Dr #732 Fort Myers, FL	2.0	2.0	1154	$4,000	$3.47	23d	1	0.26mi
16635 Lake Circle Dr Fort Myers, FL	2.0	2.0	1277	$2,150	$1.68	15d	2	0.29mi
16685 Lake Circle Dr Fort Myers, FL	2.0	2.0	1228	$2,000	$1.63	23d	2	0.32mi
16625 Lake Circle Dr #523 Fort Myers, FL	2.0	2.0	1154	$2,100	$1.82	23d	1	0.34mi
11021 Gulf Reflections Dr Fort Myers, FL	2.0–3.0	2.0	1674	$2,600	$1.55	23d	2	0.41mi
11021 Gulf Reflections Dr #303 Fort Myers, FL	2.0	2.0	1500	$4,200	$2.80	3d	1	0.41mi
11041 Gulf Reflections Dr #305 Fort Myers, FL	2.0	2.0	1500	$1,800	$1.20	23d	1	0.45mi
11093 Kelly Rd Fort Myers, FL	2.0	1.0	830	$2,000	$2.41	21d	1	0.49mi
11262 Summerwinds Ct Fort Myers, FL	2.0	1.0	1049	$1,699	$1.62	21d	1	0.58mi
11298 Summerwinds Ct Fort Myers, FL	2.0	1.0	861	$1,599	$1.86	21d	1	0.62mi
11389 Summerwinds Ct Fort Myers, FL	2.0	1.0	927	$1,599	$1.72	21d	1	0.69mi
11460 Summerwinds Ct Fort Myers, FL	2.0	1.0	912	$1,699	$1.86	21d	1	0.74mi
16841 Juanita Ave Unit B Fort Myers, FL	2.0	1.0	840	$1,845	$2.20	23d	1	0.77mi
16901 Juanita Ave Fort Myers, FL	2.0	1.0	780	$1,500	$1.92	23d	1	0.81mi
15773 Beachcomber Ave Unit 1264830P Fort Myers, FL	3.0	2.0	1496	$3,133	$2.09	13d	1	0.83mi
15449 Bellamar Cir #1225 Fort Myers, FL	3.0	2.0	1043	$1,700	$1.63	13d	1	0.85mi
11430 Kimble Dr Unit 11432 front Fort Myers, FL	2.0	1.0	700	$1,300	$1.86	3d	1	0.86mi
11430 Kimble Dr Unit 11430 front Fort Myers, FL	2.0	1.0	700	$1,295	$1.85	3d	1	0.86mi
15655 Ocean Walk Cir Fort Myers, FL	1.0–2.0	1.0–2.0	856	$3,200	$3.74	14d	2	0.90mi
15433 Bellamar Cir Fort Myers, FL	3.0	2.0	1021	$2,575	$2.52	23d	2	0.90mi
15645 Ocean Walk Cir Fort Myers, FL	3.0	2.0	1287	$3,699	$2.87	2d	2	0.91mi
15645 Ocean Walk Cir Fort Myers, FL	3.0	2.0	1227	$2,774	$2.26	3d	3	0.91mi
11451 Char Ann Dr Fort Myers, FL	2.0	1.0	1300	$1,950	$1.50	1d	1	0.91mi
10743 Robinson St Fort Myers, FL	3.0	2.0	1216	$2,000	$1.64	23d	1	0.91mi
15430 Bellamar Cir Fort Myers, FL	3.0	2.0	1043	$2,400	$2.30	15d	2	0.92mi
11470 Char Ann Dr Fort Myers, FL	2.0	1.0	834	$1,200	$1.44	3d	1	0.92mi
15430 Bellamar Cir #3023 Fort Myers, FL	3.0	2.0	1043	$3,500	$3.36	3d	1	0.92mi
15430 Bellamar Cir Unit 1546283P Fort Myers, FL	3.0	2.0	1033	$1,873	$1.81	14d	1	0.92mi
16890 Carmen Ave Unit 16902 Fort Myers, FL	2.0	1.0	800	$1,295	$1.62	3d	1	0.93mi
15585 Ocean Walk Cir #302 Fort Myers, FL	1.0	1.0	828	$1,700	$2.05	23d	1	0.94mi
16910 Carmen Ave #16922 Fort Myers, FL	2.0	1.0	780	$1,400	$1.79	23d	1	0.94mi
16920 Carmen Ave Fort Myers, FL	2.0	1.0	800	$1,300	$1.62	23d	1	0.95mi
15417 Bellamar Cir #823 Fort Myers, FL	3.0	2.0	1043	$1,650	$1.58	21d	1	0.97mi
15417 Bellamar Cir #823 Fort Myers, FL	3.0	2.0	1043	$1,650	$1.58	23d	1	0.97mi
11400 Ocean Walk Ln Fort Myers, FL	1.0–2.0	1.0–2.0	856	$1,500	$1.75	3d	2	0.97mi
16580 Ginger Ln #3242 Fort Myers, FL	2.0	2.0	982	$1,800	$1.83	23d	1	0.98mi
16214 Via Solera Cir #5 Fort Myers, FL	2.0	2.5	1300	$1,750	$1.35	23d	1	0.98mi
15401 Bellamar Cir #621 Fort Myers, FL	3.0	2.0	1040	$1,700	$1.63	11d	1	1.01mi
15625 Ocean Walk Cir #103 Fort Myers, FL	2.0	2.0	1287	$1,450	$1.13	21d	1	1.01mi
15385 Bellamar Cir #413 Fort Myers, FL	3.0	2.0	1043	$1,600	$1.53	23d	1	1.01mi

HOA detail

• Monthly dues: $175 · $2,100/yr
• Likely covers: pool

Listing history 13 events

1. 2026-05-25
   status Pending
2. 2026-03-26
   price $165,000
3. 2026-03-24
   price $169,000
4. 2026-02-17
   listed $219,900 Active
5. 2026-02-01
   historical
6. 2025-03-09
   price $249,000
7. 2025-02-01
   listed $265,000 Active
8. 2021-05-12
   soldstatus $169,000
9. 2013-03-28
   soldstatus $77,000
10. 2013-03-20
    soldstatus $77,000 816-char remark

    Show marketing remark (816 chars)

    WOW!!!! THE SELLER HAS PRICED THIS TO SELL NOW!!!Great home in desirable 55+ lee Plantation! This community is close to the beaches, shopping and dining. Lee Plantation is a lifestyle community that will fill your days and nights with fun. The clubhouse features a full social calendar. The social committee has everything from cards, day trips, potlucks and dances. Lee Plantation also has a community pool, tennis, shuffleboard, and so much more. This home is a 2 bedroom and 2 bathroom with a Florida room. The kitchen has newer appliances and an open feel to it. The bedrooms are a nice size and the furniture is available for sale. Outside, a shed provides storage that is protected. You won't need a lawn mower because your HOA does that for you leaving more free time to play! Call for for your showing today.

11. 2013-02-21
    price $79,900 816-char remark

    Show marketing remark (816 chars)

    WOW!!!! THE SELLER HAS PRICED THIS TO SELL NOW!!!Great home in desirable 55+ lee Plantation! This community is close to the beaches, shopping and dining. Lee Plantation is a lifestyle community that will fill your days and nights with fun. The clubhouse features a full social calendar. The social committee has everything from cards, day trips, potlucks and dances. Lee Plantation also has a community pool, tennis, shuffleboard, and so much more. This home is a 2 bedroom and 2 bathroom with a Florida room. The kitchen has newer appliances and an open feel to it. The bedrooms are a nice size and the furniture is available for sale. Outside, a shed provides storage that is protected. You won't need a lawn mower because your HOA does that for you leaving more free time to play! Call for for your showing today.

12. 2006-10-31
    soldstatus $145,000
13. 1993-03-19
    soldstatus $65,000

ⓘ 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: $2,030 · $169/mo
• Projected year-2 tax: $2,031 · $169/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $25,090
• − Mortgage interest: −$9,243
• − Property taxes: −$2,030
• − Insurance: −$5,944
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − HOA: −$2,100
• − Depreciation: −$4,800
• Taxable loss: −$3,041
• Est. tax savings @ 24.0%: +$730
• After-tax cash flow: $93/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 — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

+153.8% since first listed

13 events — show timeline

• 2026-05-25 Pending — FORTMLS
• 2026-03-26 Price Changed $165,000 FORTMLS
• 2026-03-24 Price Changed $169,000 FORTMLS
• 2026-02-17 Listed $219,900 FORTMLS
• 2026-02-01 Listing Removed — FORTMLS
• 2025-03-09 Price Changed $249,000 FORTMLS
• 2025-02-01 Listed $265,000 FORTMLS
• 2021-05-12 Sold (Public Records) $169,000 Public Records
• 2013-03-28 Sold (Public Records) $77,000 Public Records
• 2013-03-20 Sold (MLS) $77,000 FORTMLS
• 2013-02-21 Price Changed $79,900 FORTMLS
• 2006-10-31 Sold (Public Records) $145,000 Public Records
• 1993-03-19 Sold (Public Records) $65,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $2,030 · -12.8% YoY. Source: county tax records.