4520 Lafayette Ln E · Estero, FL 33928

$50,000

1 bd · 1.0 ba · 379 sqft · Manufactured public records · 384 Days on market

Built 1983 2,352 sqft lot $297/mo HOA · 18% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

Key facts

• Large storage area
• Washer and dryer
• Butterfly garden

Tags

• BACK PATIO
• LARGE STORAGE AREA
• WASHER AND DRYER
• BOAT STORAGE
• BOAT RAMP
• BUTTERFLY GARDEN

Property features AI

Finance

• Other: Part of a large complex with about 640 units
• HOA & community: Quarterly condo fee of $890; Total annual recurring fees approximately $3,560; One-time fees approximately $250; On-site management; Community amenities include pool, spa/hot tub, clubhouse, community room, exercise room, library, hobby room, common laundry, boat storage, community boat ramp, fish cleaning station, tennis, pickleball, basketball, shuffleboard, bocce, volleyball, BBQ/picnic areas, dog park, vehicle wash area, extra storage, underground utilities, street lights; Maintenance provided for cable, irrigation water, laundry facilities, lawn/land maintenance, sewer, street maintenance, trash removal, water; plus manager, recreation facilities, reserves, legal/accounting

Exterior

• Parking: 1 assigned parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential property; Single-story; Rear exposure faces north; Located in the Riverwoods Plantation community
• Construction: Built in 1983; Vinyl siding exterior; Shingle roof; Manufactured building design
• Exterior features: Patio; Landscaped area/view; Private road access; Boat ramp and water available at dock (community)

Interior

• Kitchen: Range; Microwave; Refrigerator/Freezer
• Bedrooms: 1 bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom with combo tub and shower
• Heating & cooling: Central electric heat; Ceiling fans; Wall unit; Window unit; Propane gas available
• Interior features: Turnkey condition; See remarks for additional interior details; Laundry in residence
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.8% vs local median 3.4% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents soft (-1.4%/yr); 674 active listings in the ZIP; solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 384 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $43k (46%) 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 384 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 3.36% ✓
• Cap rate: 21.77%
• Cash-on-cash: 55.29%
• DSCR: 3.46
• GRM: 2.5

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: 2.8%
• Equity multiple: 1.10×
• Total profit: $1,388
• Equity at exit: $7,455

10-year hold

• IRR: 3.2%
• Equity multiple: 1.15×
• Total profit: $2,116
• Equity at exit: $4,323

Cash invested: $14,000 (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 33928

• Rents YoY: -1.4%
• Active inventory: 674
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,679 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$297
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $219

Break-even live

Break-even rent $1,403

Max offer price $50,000

Occupancy floor 82%

Sensitivity live

Price	-10% $247	-5% $233	+0% $219	+5% $204	+10% $190
Rent	-10% $86	-5% $152	+0% $219	+5% $285	+10% $351
Rate	-1.0pp $244	-0.5pp $231	base $219	+0.5pp $206	+1.0pp $192

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $297 · $3,564/yr
• Likely covers: water

Listing history 19 events

1. 2026-05-20
   status Pending
2. 2026-04-30
   price $50,000
3. 2026-04-13
   price $59,000
4. 2026-04-07
   price $63,000
5. 2026-03-06
   price $65,000
6. 2025-12-28
   price $75,000
7. 2025-10-07
   price $83,000
8. 2025-10-02
   status Active
9. 2025-07-06
   price $88,000
10. 2025-04-23
    listed $93,000 Active
11. 2023-04-26
    soldstatus $80,000 Sold 772-char remark

    Show marketing remark (772 chars)

    Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

12. 2023-04-26
    soldstatus $80,000

    Show marketing remark (772 chars)

    Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

13. 2023-04-02
    status Pending 772-char remark

    Show marketing remark (772 chars)

    Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

14. 2023-04-01
    price $85,000 772-char remark

    Show marketing remark (772 chars)

    Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

15. 2023-03-29
    price $100,000 772-char remark

    Show marketing remark (772 chars)

    Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

16. 2023-03-21
    listed $105,000 Active 772-char remark

    Show marketing remark (772 chars)

    Lowest priced home in Riverwoods Plantation. Perfect landing place for snow birds wanting to escape the cold. Great opportunity for you to be a part of one of the most popular 55+ Mobile communities in Estero. And yes you own the land. This well kept mobile cottage has a nice paver patio that you can enjoy your afternoon cocktail hours with friends and neighbors. Full time activity director keeps you busy with dances, dinners, cooking classes, so much more. 4 brand new pickleball courts just completed so you can enjoy the fastest growing sport in the area. Don't forget your water toys. Boat ramp, kayak and canoe launch, boat storage all available to residents also. Community has a wonderful location placing it close to airport, beaches, shopping and restaurants.

17. 2012-03-07
    soldstatus $32,000 349-char remark

    Show marketing remark (349 chars)

    A well maintained and spacious 1 bedroom, 1 bath unit being sold completely furnished. The landscaping on the west side will keep the patio area and Florida room private and cool. A lot of living area and tons of storage make this a very functional part time or full time home. Riverwoods Plantation is a gulf access community via the Estero River.

18. 2011-08-25
    listed $49,000 349-char remark

    Show marketing remark (349 chars)

    A well maintained and spacious 1 bedroom, 1 bath unit being sold completely furnished. The landscaping on the west side will keep the patio area and Florida room private and cool. A lot of living area and tons of storage make this a very functional part time or full time home. Riverwoods Plantation is a gulf access community via the Estero River.

19. 1983-04-01
    soldstatus $14,100

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,220 · $102/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 7/10 Severe FEMA zone AE · 93% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,153
• − Mortgage interest: −$2,801
• − Property taxes: −$1,220
• − Insurance: −$5,368
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − HOA: −$3,564
• − Depreciation: −$1,455
• Taxable income: $2,521
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $2,017/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 — Estero

• Score: 79/100
• State rank: #149
• US rank: #2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estero, FL
• County: Lee County · 788,662 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 606.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• 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

+254.6% since first listed

19 events — show timeline

• 2026-05-20 Pending — BEARMLS
• 2026-04-30 Price Changed $50,000 BEARMLS
• 2026-04-13 Price Changed $59,000 BEARMLS
• 2026-04-07 Price Changed $63,000 BEARMLS
• 2026-03-06 Price Changed $65,000 BEARMLS
• 2025-12-28 Price Changed $75,000 BEARMLS
• 2025-10-07 Price Changed $83,000 BEARMLS
• 2025-10-02 Relisted — BEARMLS
• 2025-07-06 Price Changed $88,000 BEARMLS
• 2025-04-23 Listed $93,000 BEARMLS
• 2023-04-26 Sold (Public Records) $80,000 Public Records
• 2023-04-26 Sold (MLS) $80,000 BEARMLS
• 2023-04-02 Pending — BEARMLS
• 2023-04-01 Price Changed $85,000 BEARMLS
• 2023-03-29 Price Changed $100,000 BEARMLS
• 2023-03-21 Listed $105,000 BEARMLS
• 2012-03-07 Sold (MLS) $32,000 NAPLESMLS
• 2011-08-25 Listed $49,000 NAPLESMLS
• 1983-04-01 Sold (Public Records) $14,100 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,220 · +10.6% YoY. Source: county tax records.