2035/2037 Eloise Cir · North Fort Myers, FL 33917

$275,000

4 bd · 2.0 ba · — sqft · MultiFamily · 66 Days on market

Built 1976 Good condition 0.38 ac lot ↓ 4% since listing

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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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• 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

Don't miss this turnkey, cash-flowing duplex perfectly positioned in prime North Fort Myers! This fully rented, income-producing property offers immediate ROI with two mirror-image 2-bedroom, 1-bathroom units featuring open kitchen floor plans, central A/C, enclosed screen room, and convenient concrete carport. Situated on a deep lot, the property boasts a massive backyard with plenty of room to stretch out, while big-ticket items like the 2022 shingle roof and new AC offer peace of mind. The location is an absolute magnet for long-term tenants, perfectly positioned within easy walking distance to North Fort Myers High School and just a short drive over the bridge to downtown Fort Myers din

Key facts

• Turnkey duplex
• Enclosed screen room
• Central a/c

Tags

• TURNKEY DUPLEX
• CASH-FLOWING DUPLEX
• INCOME-PRODUCING PROPERTY
• OPEN KITCHEN FLOOR PLANS
• CENTRAL A/C
• ENCLOSED SCREEN ROOM

Property features AI

Finance

• Other: Zoning: TFC-2
• Financial info: Gross scheduled income: $32,000; Operating expenses: $2,000
• HOA & community: Non-gated community; No regular association fee

Exterior

• Utilities: Cable available; Sewer assessment paid; Water assessment paid; Irrigation included in assessment
• Home design: Single-story property; Block, concrete and stucco construction; Shingle roof
• Construction: Built with block, concrete and stucco; Shingle roof
• Exterior features: Room for pool; Rectangular lot; Lot dimensions approximately 80 x 100 x 80 x 100

Interior

• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Tile flooring; Resale condition

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive. Per door: $364/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $3,326/mo this rent would consume 73% of the median local household income ($55k/yr) (locally 775% 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 $8k 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 66 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $258,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.21% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.33%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $563
• Equity at exit: $41,003

10-year hold

• IRR: 9.5%
• Equity multiple: 1.72×
• Total profit: $55,298
• Equity at exit: $23,777

Cash invested: $77,000 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,326 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $727

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,326
Total (2 units)			$3,326

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4232 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,495	$0.78	3d	1	0.18mi
4234 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,495	$0.78	3d	1	0.18mi
2861 N 2nd St North Fort Myers, FL	3.0	2.0	1951	$2,500	$1.28	21d	1	0.23mi
2861 N 2nd St North Fort Myers, FL	3.0	2.0	1951	$2,500	$1.28	23d	1	0.23mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	23d	1	0.25mi
17124 Pompeii Way North Fort Myers, FL	5.0	3.0	2587	$2,600	$1.01	11d	1	0.37mi
17158 Pompeii Way North Fort Myers, FL	4.0	3.0	2205	$2,600	$1.18	13d	1	0.39mi
17167 Pompeii Way North Fort Myers, FL	5.0	3.0	2587	$2,700	$1.04	11d	1	0.41mi
4106 San Felice Ln North Fort Myers, FL	4.0	2.5	1874	$2,400	$1.28	23d	1	0.45mi
17257 Cantu Ct North Fort Myers, FL	5.0	2.5	2570	$2,450	$0.95	23d	1	0.46mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	13d	1	0.47mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	14d	1	0.49mi
17244 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	14d	1	0.50mi
17225 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	23d	1	0.53mi
17459 Monte Isola Way North Fort Myers, FL	3.0	2.5	300	$2,000	$6.67	18d	1	0.56mi
17459 Monte Isola Way North Fort Myers, FL	3.0	2.5	—	$1,750	—	23d	1	0.56mi
4106 Lattuca Ln North Fort Myers, FL	4.0	2.5	1874	$2,200	$1.17	23d	1	0.57mi
17449 Monte Isola Way Unit 17449 North Fort Myers, FL	3.0	2.5	—	$2,000	—	23d	1	0.58mi
4208 Caterina Ct North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	14d	1	0.60mi
574 Leopard Ln #574 North Fort Myers, FL	4.0	2.0	1459	$1,599	$1.10	13d	1	0.61mi
4228 Caterina Ct North Fort Myers, FL	3.0	2.5	—	$1,850	—	3d	1	0.62mi
4228 Caterina Ct North Fort Myers, FL	3.0	2.5	1700	$1,850	$1.09	11d	1	0.62mi
4106 Granita Ct North Fort Myers, FL	4.0	2.5	1812	$2,300	$1.27	23d	1	0.62mi
17596 Monte Isola Way North Fort Myers, FL	4.0	2.5	2500	$2,550	$1.02	23d	1	0.63mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	3d	1	0.63mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	23d	1	0.63mi
4241 Caterina Ct North Fort Myers, FL	3.0	2.5	1529	$1,900	$1.24	15d	1	0.66mi
17404 Monte Isola Way North Fort Myers, FL	5.0	2.5	2279	$2,099	$0.92	13d	1	0.68mi
17400 Monte Isola Way North Fort Myers, FL	3.0	2.0	1448	$1,875	$1.29	23d	1	0.69mi
4264 Cirella Ct North Fort Myers, FL	3.0	2.5	1442	$2,000	$1.39	11d	1	0.70mi
4276 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	23d	1	0.70mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	3d	1	0.71mi
8086 Heck Dr Unit 14 North Fort Myers, FL	3.0	2.0	—	$1,095	—	21d	1	0.72mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	14d	1	0.76mi
4275 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	23d	1	0.78mi
17392 Monte Isola Way North Fort Myers, FL	4.0	2.5	1871	$2,299	$1.23	23d	1	0.80mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,200	$1.36	23d	1	1.02mi
4216 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1817	$2,000	$1.10	1d	1	1.06mi
4232 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1812	$1,900	$1.05	23d	1	1.07mi
4263 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1936	$2,200	$1.14	15d	1	1.11mi

Listing history 2 events

1. 2026-04-20
   price $275,000
2. 2026-03-24
   listed $285,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $39,912
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,193
• − Management: −$3,193
• − Depreciation: −$8,000
• Taxable income: $4,622
• Est. tax owed @ 24.0%: −$1,109
• After-tax cash flow: $7,616/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This fully rented, income-producing property is in good condition with minimal maintenance required. It offers immediate ROI and is well-positioned for long-term tenants.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value.
• Both Landscaping maintenance — Improves curb appeal and property value.
• Rental Replace HVAC filters — Keeps systems running efficiently and reduces maintenance costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value. ↑
• Both Landscaping maintenance — Improves curb appeal and property value. ↑
• Rental Replace HVAC filters — Keeps systems running efficiently and reduces maintenance costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-3.5% since first listed

2 events — show timeline

• 2026-04-20 Price Changed $275,000 FORTMLS
• 2026-03-24 Listed $285,000 FORTMLS