661 Coral Ln · North Fort Myers, FL 33917

$44,750

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 65 Days on market

Built 1976 4,835 sqft lot $185/mo HOA · 13% 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 +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Own this home AND YOUR LAND while you Enjoy AFFORDABLE LIVING in the Sunshine State! INVESTOR OPPORTUNITY! This is a DIAMOND IN THE ROUGH and potentially your getaway in Paradise. Make this 2 Bedroom/2 Bath unit exactly how you want it —your taste, your timeline, and your budget! The property is offered AS-IS and the List Price reflects needed repairs. (Note that you must commence work on a new carport within 60 days of purchase. ) Lazy Days is a pet-friendly, people friendly, well-kept neighborhood with a LOW monthly fee of $185. Walk to the pool & enjoy a friendly 55+ community with an array of well-maintained amenities including two meeting hallls, a heated community swimmin

Key facts

• 4,835 sq ft lot
• Parking
• Community pool

Property features AI

Finance

• Other: Pets allowed conditionally (up to 2 dogs or cats, max 25 lbs; no vicious breeds)
• HOA & community: Homeowners association with a $185 monthly fee; Association covers legal/accounting, recreation facilities, reserve fund, and street lights; Community amenities include clubhouse, pool, bocce, pickleball, shuffleboard, picnic/barbecue areas, library, laundry, storage, RV/boat storage, and management; Street lights in community; Senior community

Exterior

• Parking: Driveway; Paved parking; Attached carport (1 covered space)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home with vinyl siding; Single-story; Entry level: 1; Faces west; Known damage noted
• Construction: Metal roof; Manufactured construction with vinyl siding
• Exterior features: Storage; Community pool; Rectangular, paved lot on a public maintained road; East exposure

Interior

• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Separate/formal dining room; Shower-only bathrooms with separate showers; High-speed internet; Single hung and sliding windows with shutters; Unfurnished
• Laundry & utility: Washer and dryer (appliances included); Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.4% 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 rising (+2.6%/yr); 841 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% of the median local income ($55k/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 $310 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $13k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $45k implies a 52% gain — meaningful room to come down on a strong offer.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,065 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 3.29% ✓
• Cap rate: 23.44%
• Cash-on-cash: 61.23%
• DSCR: 3.72
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $135,360
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
974 Restful Rd	0.37mi	2/2.0	960 (0%)	3mo	$109,575	$114	80
786 Roses Ln	0.18mi	2/2.0	1,056 (+10%)	4mo	$149,000	$141	72

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.49×
• Total profit: $6,169
• Equity at exit: $6,672

10-year hold

• IRR: 21.2%
• Equity multiple: 2.78×
• Total profit: $22,288
• Equity at exit: $3,869

Cash invested: $12,530 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$235
• Tax from tax record: −$86 /mo · $1,037/yr
• Insurance: −$19
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$185
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $213

Break-even live

Break-even rent $1,204

Max offer price $44,750

Occupancy floor 81%

Sensitivity live

Price	-10% $238	-5% $225	+0% $213	+5% $200	+10% $187
Rent	-10% $96	-5% $155	+0% $213	+5% $271	+10% $329
Rate	-1.0pp $235	-0.5pp $224	base $213	+0.5pp $201	+1.0pp $189

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: $11,188
• Closing costs: $1,342
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	24d	1	0.31mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	24d	1	0.56mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	24d	1	0.62mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	24d	1	0.67mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	4d	1	0.68mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	24d	1	0.71mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	24d	1	0.90mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	4d	1	0.93mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	24d	1	0.93mi
1846 Powell Dr Unit 28 North Fort Myers, FL	1.0	1.0	850	$1,500	$1.76	4d	1	0.94mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	24d	1	1.02mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	15d	1	1.02mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	15d	1	1.05mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	24d	1	1.18mi
8086 Heck Dr Unit 6 North Fort Myers, FL	2.0	1.0	600	$800	$1.33	24d	1	1.19mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	24d	1	1.22mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	11d	1	1.24mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	4d	1	1.27mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	2d	27	1.28mi
7869 Suncoast Dr North Fort Myers, FL	2.0	1.0	564	$850	$1.51	3d	1	1.29mi
2211 Cantor Ln North Fort Myers, FL	2.0	2.0	672	$850	$1.26	3d	1	1.30mi
240 W Mariana Ave Apt B North Fort Myers, FL	1.0	1.0	600	$1,295	$2.16	24d	1	1.41mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	24d	1	1.45mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	4d	1	1.48mi

HOA detail

• Monthly dues: $185 · $2,220/yr
• Likely covers: pool

Listing history 14 events

1. 2026-06-17
   days on market $44,750 Active 65 DOM
2. 2026-06-16
   days on market $44,750 Active 64 DOM
3. 2026-06-15
   days on market $44,750 Active 63 DOM
4. 2026-06-13
   days on market $44,750 Active 61 DOM
5. 2026-06-10
   days on market $44,750 Active 58 DOM
6. 2026-06-09
   days on market $44,750 Active 57 DOM
7. 2026-06-07
   days on market $44,750 Active 55 DOM
8. 2026-06-03
   days on market $44,750 Active 51 DOM
9. 2026-06-02
   days on market $44,750 Active 50 DOM
10. 2026-06-01
    days on market $44,750 Active 49 DOM
11. 2026-05-31
    days on market $44,750 Active 48 DOM
12. 2026-04-09
    listed $44,750 Active
13. 1999-04-14
    soldstatus $29,500
14. 1997-05-28
    soldstatus $38,500

ⓘ 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: $1,037 · $86/mo
• Projected year-2 tax: $1,037 · $86/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 6/10 Major FEMA zone AE · 70% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $17,682
• − Mortgage interest: −$2,507
• − Property taxes: −$1,037
• − Insurance: −$5,342
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − HOA: −$2,220
• − Depreciation: −$1,302
• Taxable income: $2,445
• Est. tax owed @ 24.0%: −$587
• After-tax cash flow: $1,966/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): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

+16.2% since first listed

3 events — show timeline

• 2026-04-09 Listed $44,750 FORTMLS
• 1999-04-14 Sold (Public Records) $29,500 Public Records
• 1997-05-28 Sold (Public Records) $38,500 Public Records

Property tax history

+20.9%/yr

Latest (2025): $1,037 · -26.2% YoY. Source: county tax records.