5638 5th Ave · Pine Manor, FL 33907

$219,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 18 Days on market

Built 1980 6,011 sqft lot Est $256k · 14% under

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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 +25.1/30.0
• ARV discount +14.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.4/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +0.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great cash flow property! Buy now and make instant return with a 14% cap rate. This duplex has been completely renovated inside and out. Brand new A/C units, electrical panels, siding, flooring, cabinets, countertops, toilets, tile around tubs, light fixtures, plumbing fixtures, and more! Because of it's new condition, it will make for very few maintenance requests. This won't last long!

Key facts

• Central ac
• County water
• County sewer

Tags

• INCOME PRODUCING DUPLEX
• CENTRAL AC
• COUNTY WATER
• COUNTY SEWER

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive. Per door: $208/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $216k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#695 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment 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.
• Zoned schools: Villas Elementary School (math 45% / reading 47%, grade D-, #1,234 of 2,144 statewide, top 58%, 855 students, 61% FRL); Cape Coral High School (math 50% / reading 58%, grade C-, #144 of 667 statewide, top 22%, 1,887 students, 41% FRL).
• Market conditions: Rents falling (-9.7%/yr); 346 active listings in the ZIP; 21 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).
• At $2,502/mo this rent would consume 57% of the median local household income ($52k/yr) (locally 1960% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 18 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago 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 $110k; list at $219k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $215,715 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.14% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $255,840
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5637-5639 Fifth Ave	0.03mi	4/2.0	1,560 (0%)	5mo	$180,000	$115	94
5625/5627 Fourth Ave	0.09mi	4/2.5	1,528 (-2%)	1mo	$250,000	$164	89
5532/5534 Seventh Ave	0.18mi	4/2.0	1,440 (-8%)	2mo	$275,000	$191	77
1652 Cypress Dr	0.12mi	4/2.0	1,792 (+15%)	5mo	$256,000	$143	66
5508 10th Ave	0.35mi	4/2.0	1,440 (-8%)	15mo	$282,646	$196	59

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: -7.4%
• Equity multiple: 0.74×
• Total profit: $-16,219
• Equity at exit: $32,654

10-year hold

• IRR: -2.2%
• Equity multiple: 0.87×
• Total profit: $-8,024
• Equity at exit: $18,935

Cash invested: $61,320 (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 33907

• Home prices YoY: -26.8%
• Rents YoY: -9.7%
• Active inventory: 346
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$254 /mo · $3,046/yr
• Insurance: −$91
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $417

Break-even live

Break-even rent $1,975

Max offer price $219,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,502
Total (2 units)			$2,502

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1608 Park Meadows Dr #1 Fort Myers, FL	3.0	2.5	1722	$1,950	$1.13	23d	1	0.30mi
5457 9th Ave Fort Myers, FL	3.0	2.0	1158	$2,050	$1.77	23d	1	0.36mi
5001 Palm Pointe Ct Fort Myers, FL	1.0–3.0	1.0–2.0	990	$2,735	$2.76	2d	35	0.43mi
12750 Equestrian Cir #3005 Fort Myers, FL	3.0	2.0	1154	$1,650	$1.43	23d	1	0.58mi
5335 Hawks Landing Dr Unit 202 Fort Myers, FL	3.0	2.0	1154	$1,555	$1.35	23d	1	0.59mi
2181 Coronet St Fort Myers, FL	3.0	1.0	1810	$1,200	$0.66	3d	1	0.75mi
5883 Sand Oak Dr Fort Myers, FL	3.0	2.0	1582	$2,300	$1.45	3d	1	0.88mi
5625 Trailwinds Dr #412 Fort Myers, FL	3.0	2.0	1331	$2,150	$1.62	23d	1	0.96mi
1601 Red Cedar Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1000	$1,594	$1.59	1d	36	1.05mi
5710 Trailwinds Dr #525 Fort Myers, FL	3.0	3.0	1171	$1,700	$1.45	2d	1	1.06mi
5710 Trailwinds Dr #525 Fort Myers, FL	3.0	2.0	1435	$1,950	$1.36	19d	1	1.06mi
1411 Whiskey Creek Dr Fort Myers, FL	3.0	2.0	2087	$3,390	$1.62	23d	1	1.08mi
1463 Tanglewood Pkwy Fort Myers, FL	3.0	2.0	1754	$3,100	$1.77	23d	1	1.16mi
8251 Pathfinder Loop #621 Fort Myers, FL	3.0	2.0	1306	$4,000	$3.06	23d	1	1.17mi
1448 Covington Cir W Fort Myers, FL	3.0	2.0	1350	$3,500	$2.59	23d	1	1.21mi
1208 Westfield Dr Fort Myers, FL	3.0	2.0	1600	$2,900	$1.81	23d	1	1.36mi
6346 Saint Andrews Cir S Fort Myers, FL	3.0	2.0	1174	$2,400	$2.04	3d	1	1.40mi
958 Indiana Ave Fort Myers, FL	3.0	2.0	1422	$2,500	$1.76	23d	1	1.45mi
6313 Saint Andrews Cir S Fort Myers, FL	3.0	2.0	1418	$2,350	$1.66	3d	1	1.45mi
4797 Albacore Ln Fort Myers, FL	3.0	2.5	1391	$1,900	$1.37	23d	1	1.46mi
2425 Woodland Cir Fort Myers, FL	3.0	2.0	1379	$2,220	$1.61	23d	1	1.50mi

Listing history 2 events

1. 2026-06-13
   remarks 540-char remark
2. 2026-06-13
   listed $219,000 Pending 18 DOM

ⓘ 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: $3,046 · $254/mo
• Projected year-2 tax: $3,046 · $254/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 X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $30,024
• − Mortgage interest: −$12,267
• − Property taxes: −$3,046
• − Insurance: −$1,892
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$6,371
• Taxable income: $1,644
• Est. tax owed @ 24.0%: −$394
• After-tax cash flow: $4,605/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 — Pine Manor

• Score: 64/100
• State rank: #695
• US rank: #14531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Manor, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 25,033
• Household income: $52,478
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1960.0

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 0.63)
• Race & ethnicity: White 52% Hispanic / Latino 30% Two or more races 21% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 6% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Dominican Republic
• Languages at home: 65% English-only · Spanish 25% Other Indo-European 4% French/Haitian/Cajun 2%

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: ▼ -93.02%
• Current HPI: 254.2264
• Rent YoY: ▼ -9.68%
• 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

+655.2% since first listed

18 events — show timeline

• 2026-04-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $219,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $239,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2017-06-26 Pending — FORTMLS
• 2017-06-26 Sold (MLS) $110,000 FORTMLS
• 2017-06-22 Sold (Public Records) $110,000 Public Records
• 2017-04-21 Price Changed $113,900 FORTMLS
• 2017-04-11 Relisted — FORTMLS
• 2017-04-05 Pending — FORTMLS
• 2017-04-04 Price Changed $114,900 FORTMLS
• 2017-03-02 Listed $119,900 FORTMLS
• 2016-08-03 Sold (Public Records) $40,000 Public Records
• 2006-10-10 Sold (Public Records) $400,000 Public Records
• 2001-05-01 Sold (Public Records) $100,000 Public Records
• 1990-04-26 Sold (Public Records) $27,500 Public Records
• 1990-01-01 Sold (Public Records) $29,000 Public Records

Property tax history

+12.0%/yr

Latest (2025): $3,046 · +6.8% YoY. Source: county tax records.