187 Ramble Dr · North Fort Myers, FL 33903

$94,000

1 bd · 1.0 ba · 444 sqft · Manufactured public records · 181 Days on market

Built 1989 2,221 sqft lot Est $67k · 41% over $230/mo HOA · 19% of rent

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Why this score? — see what drove the D+ 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 +19.6/30.0
• 1% rule +8.2/10.0
• DSCR +6.2/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Just Reduced!!!!! Located in Fountain View RV Resort, a well-established 55+ community where you own the land, this exceptionally well-maintained 2-bedroom, 1.5-bath manufactured home offers approximately 888 sq. ft. of comfortable living space. The residence is beautifully decorated, features attractive landscaping, and includes an inviting front deck ideal for outdoor enjoyment. Recent improvements include a 2025 refrigerator, kitchen sink, and higher-rise master toilet; 2024 dining set, living-room furniture, and Sleep Number mattress; 2022 hot water heater; and durable laminate flooring installed throughout in 2020 and 2019 AC. Additional conveniences include in-residence laundry, and t

Key facts

• In-residence laundry
• Bocce court
• Clubhouse

Tags

• INVITING FRONT DECK
• RECENT IMPROVEMENTS
• IN-RESIDENCE LAUNDRY
• CLUBHOUSE
• BOCCE COURT
• COMMUNITY POOL

Property features AI

Finance

• Other: Pets allowed conditionally; typically a maximum of 1 pet up to 20 lbs
• HOA & community: Homeowners association with a monthly fee of $230; Association covers management, cable TV, grounds maintenance, recreation facilities, reserve fund, road maintenance, sewer, trash, and water; Community amenities include pool, spa/hot tub, clubhouse, tennis courts, basketball court, bocce court, shuffleboard court, sport court, and on-site management; Laundry facility in community; Senior community

Exterior

• Parking: Two parking spaces
• Security: Smoke detectors
• Utilities: Public sewer; Well water; Cable available; High-speed internet available
• Home design: Manufactured home; Single-story; Entry level: 1; Faces southwest; Exposure to northeast
• Construction: Vinyl siding; Built-up and flat roof
• Exterior features: Deck; Open porch

Interior

• Kitchen: Range; Self-cleaning oven; Microwave; Disposal; Water purifier
• Bedrooms: Main level primary bedroom; Florida room
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom; Tub with shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Eat-in kitchen; Pantry; Vaulted ceilings; Cable TV hookup; Window treatments; Furnished
• Laundry & utility: Washer hookup inside; Dryer; Dryer hookup; Washer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $94k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.6% in North Fort Myers — 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, 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 (-1.9%/yr); 472 active listings in the ZIP; 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 $650 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 181 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $66k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $66,600
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Fountain View Blvd	0.19mi	1/1.5	442 (-0%)	22mo	$66,500	$150	70
169 Vista Mar Dr	0.06mi	1/1.0	386 (-13%)	6mo	$30,000	$78	70

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: -12.9%
• Equity multiple: 0.55×
• Total profit: $-11,749
• Equity at exit: $14,016

10-year hold

• IRR: -11.2%
• Equity multiple: 0.44×
• Total profit: $-14,665
• Equity at exit: $8,127

Cash invested: $26,320 (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 33903

• Rents YoY: -1.9%
• Active inventory: 472
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$106 /mo · $1,273/yr
• Insurance: −$39
• HOA: −$230
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $109

Break-even live

Break-even rent $1,099

Max offer price $94,000

Occupancy floor 86%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $230 · $2,760/yr
• Likely covers: waterlandscaping

Listing history 15 events

1. 2026-06-17
   days on market $94,000 Active 181 DOM
2. 2026-06-16
   days on market $94,000 Active 180 DOM
3. 2026-06-15
   days on market $94,000 Active 179 DOM
4. 2026-06-13
   days on market $94,000 Active 177 DOM
5. 2026-06-10
   days on market $94,000 Active 174 DOM
6. 2026-06-09
   days on market $94,000 Active 173 DOM
7. 2026-06-07
   days on market $94,000 Active 171 DOM
8. 2026-06-02
   days on market $94,000 Active 166 DOM
9. 2026-06-01
   days on market $94,000 Active 165 DOM
10. 2026-06-01
    days on market $94,000 Active 164 DOM
11. 2026-05-21
    status Active
12. 2026-05-08
    status Pending
13. 2026-02-01
    price $94,000
14. 2025-12-05
    listed $97,300 Active
15. 2020-01-13
    soldstatus $66,300

ⓘ 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: $1,273 · $106/mo
• Projected year-2 tax: $1,273 · $106/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $14,847
• − Mortgage interest: −$5,265
• − Property taxes: −$1,273
• − Insurance: −$470
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − HOA: −$2,760
• − Depreciation: −$2,735
• Taxable loss: −$32
• Est. tax savings @ 24.0%: +$8
• After-tax cash flow: $1,318/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 23,655
• Household income: $56,993
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 468.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 4% Romanian 4% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -172.26%
• Current HPI: 256.773
• Rent YoY: ▼ -1.94%
• 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

+41.8% since first listed

5 events — show timeline

• 2026-05-21 Relisted — FORTMLS
• 2026-05-08 Pending — FORTMLS
• 2026-02-01 Price Changed $94,000 FORTMLS
• 2025-12-05 Listed $97,300 FORTMLS
• 2020-01-13 Sold (Public Records) $66,300 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,273 · +14.8% YoY. Source: county tax records.