4501 Robert E Lee Blvd E · Estero, FL 33928

$140,000

2 bd · 2.0 ba · 871 sqft · Manufactured public records · 72 Days on market

Built 1999 2,657 sqft lot Est $158k · 11% under $297/mo HOA · 15% 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 +24.8/30.0
• ARV discount +12.5/15.0
• 1% rule +8.8/10.0
• DSCR +8.0/10.0
• 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

Welcome to your new oasis in Riverwoods Plantation, a vibrant 55+ community where you own the land! This delightful two-bedroom, one and a half bathroom home has a newer roof and air conditioning, ensuring comfort and peace of mind. Situated on a spacious corner lot, you'll enjoy ample outdoor space while being conveniently located near the clubhouse and activities. Riverwoods Plantation offers an active lifestyle with a variety of amenities. Join your neighbors for exciting games of pickleball, shuffleboard, horseshoes, and bocce ball. Engage in friendly sand and water volleyball matches or challenge friends to a game of billiards. With numerous clubs and events, including dances, breakfas

Key facts

• 2,657 sq ft lot
• Garage
• Community pool

Property features AI

Finance

• Other: Community type: Mobile/Manufactured; 640 units in the complex; Single-unit building on a private road; Zoning code RV; lot unit 12; restrictions include architectural, deeded, limited number vehicles, no commercial
• HOA & community: Mandatory HOA with quarterly fee; HOA fee $890 quarterly (total annual recurring fees $3,560); One-time fees $250; On-site management; HOA maintenance covers cable, internet/WiFi, irrigation water, laundry facilities, lawn/land maintenance, legal/accounting, manager, recreation facilities, reserve, sewer, street lights, street maintenance, trash removal, water; Community amenities include clubhouse, community pool and spa/hot tub, exercise room, tennis, pickleball, shuffleboard, bocce, volleyball, basketball, billiards, library, hobby room, common laundry, extra storage, community boat ramp, boat storage, fish cleaning station, dog park, vehicle wash area, underground utility and streetlight

Exterior

• Parking: 1 assigned parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; Single-story; Rear exposure facing north; Built in 1999; Located in Riverwoods Plantation
• Construction: Vinyl siding exterior; Shingle roof; Manufactured construction
• Exterior features: Patio; Corner oversized lot; Landscaped area view; Private road access; Boat ramp and water available at dock (community)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator/Freezer
• Bedrooms: 2 bedrooms (split bedroom layout)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom; Master bathroom with combo tub and shower
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Eat-in kitchen; Turnkey
• Laundry & utility: Washer; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (16.4% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $117k (16.4% below list) — sets the bar for cash-flow.
• Cap rate 8.8% 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.
• Market conditions: Rents soft (-1.4%/yr); 668 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $968 of loan paydown is wiped out by about $4k 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 72 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $43k; list at $140k implies a 226% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,982 (16.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
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. 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?
8. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $157,651
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4501 Jefferson Davis Blvd E	0.13mi	1/1.5 (-1)	912 (+5%)	3mo	$118,000	$129	76
4580 Washington Way E	0.23mi	2/1.5	912 (+5%)	13mo	$165,000	$181	69
4541 Candlestick Ct E	0.03mi	1/1.5 (-1)	789 (-9%)	14mo	$95,000	$120	64
4711 Sawmill Dr W	0.21mi	2/1.5	907 (+4%)	24mo	$175,000	$193	61

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: -28.9%
• Equity multiple: 0.08×
• Total profit: $-36,198
• Equity at exit: $20,874

10-year hold

• IRR: -70.8%
• Equity multiple: -0.59×
• Total profit: $-62,262
• Equity at exit: $12,105

Cash invested: $39,200 (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: 668
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,933 high
• Mortgage (P&I): −$734
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$297
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-130

Break-even live

Break-even rent $2,098

Max offer price $116,982

Occupancy floor —

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4751 Lafayette Ln W Estero, FL	2.0	1.0	584	$1,550	$2.65	23d	1	0.19mi
19600 Veduro Cir Fort Myers, FL	1.0–3.0	1.0–2.0	993	$1,970	$1.98	14d	11	0.94mi
7340 Stoney Grove CIR Fort Myers, FL	1.0–3.0	1.0–2.0	1106	$2,118	$1.91	2d	39	1.02mi
19760 Osprey Cove Blvd #145 Estero, FL	2.0	2.0	1121	$1,500	$1.34	10d	1	1.15mi
19113 Holly Rd Fort Myers, FL	2.0	1.0	676	$1,550	$2.29	21d	1	1.18mi
19091 Holly Rd Fort Myers, FL	2.0	1.0	720	$1,295	$1.80	23d	1	1.20mi
18645 Holly Rd Unit 1 Fort Myers, FL	2.0	1.0	950	$1,800	$1.89	19d	1	1.37mi
18543 Iris Rd Fort Myers, FL	2.0	1.0	1110	$1,795	$1.62	14d	1	1.47mi

HOA detail

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

Listing history 14 events

1. 2026-06-17
   days on market $140,000 Active 72 DOM
2. 2026-06-16
   days on market $140,000 Active 71 DOM
3. 2026-06-15
   days on market $140,000 Active 70 DOM
4. 2026-06-13
   days on market $140,000 Active 68 DOM
5. 2026-06-10
   days on market $140,000 Active 65 DOM
6. 2026-06-09
   days on market $140,000 Active 64 DOM
7. 2026-06-07
   days on market $140,000 Active 62 DOM
8. 2026-06-03
   days on market $140,000 Active 58 DOM
9. 2026-06-02
   pricedays on market $140,000 Active 57 DOM
10. 2026-06-01
    days on market $145,000 Active 56 DOM
11. 2026-06-01
    days on market $145,000 Active 55 DOM
12. 2026-04-06
    listed $145,000 Active
13. 1990-01-24
    soldstatus $43,000
14. 1983-07-01
    soldstatus $14,400

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $1,700 · $142/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 · 76% 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: $23,201
• − Mortgage interest: −$7,842
• − Property taxes: −$1,700
• − Insurance: −$5,818
• − Repairs & maintenance: −$1,856
• − Management: −$1,856
• − HOA: −$3,564
• − Depreciation: −$4,073
• Taxable loss: −$3,508
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $-722/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

+906.9% since first listed

3 events — show timeline

• 2026-04-06 Listed $145,000 BEARMLS
• 1990-01-24 Sold (Public Records) $43,000 Public Records
• 1983-07-01 Sold (Public Records) $14,400 Public Records

Property tax history

+12.1%/yr

Latest (2025): $1,700 · -7.8% YoY. Source: county tax records.