2727 Indianwood Dr · North Fort Myers, FL 33917

$73,900

2 bd · 1.0 ba · 961 sqft · Manufactured public records · 77 Days on market

Built 1977 4,704 sqft lot Est $110k · 33% under $112/mo HOA · 7% of rent

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

MAJOR PRICE REDUCTION TO $73,900! Outstanding value in the highly desirable 55+ Laurel Estates community with NO costly lot rent. Enjoy low monthly HOA fees of approximately $113. Recent updates include a brand new Rheem A/C unit with warranty, durable metal roof, and major structural updates completed in 2017. The home is partially furnished and move-in ready, making it an excellent option for full-time living or a seasonal Florida retreat. Conveniently located near shopping, dining, and downtown Fort Myers. Schedule your private showing today!

Key facts

• Duct work replaced
• Metal roof
• Near by shopping

Tags

• MOVE IN READY
• BRAND NEW RHEEM AC UNIT
• METAL ROOF
• DUCT WORK REPLACED
• ELECTRIC SERVICE REPLACED
• NEAR BY SHOPPING

Property features AI

Finance

• Other: Property located in a mobile home community (Laurel Estates Mobile Home Vil); Zoning: MH-1; Deeded restrictions
• HOA & community: Mandatory HOA (mobile/manufactured community); HOA fee approximately $112.94 monthly; Lawn/land maintenance provided; Professional management; Community amenities: bocce court, clubhouse, community pool, extra storage

Exterior

• Parking: Covered parking; Paved driveway; Attached 1-car carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; 1 story / ranch; Rear exposure to the west
• Construction: Manufactured construction; Aluminum siding exterior; Metal roof; Built in 1977; Single-hung windows; Concrete foundation
• Exterior features: Patio; Landscaped area view; Corner lot; Paved road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms; Primary bedroom on the first floor
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Closet cabinets; Eat-in kitchen; Den (study); Workshop; Partially furnished; Efficiency floor plan
• Laundry & utility: Washer; Dryer; Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $74k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 20 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).
• This rent runs 33% 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 $511 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $14k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $74k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.07% ✓
• Cap rate: 15.44%
• Cash-on-cash: 32.66%
• DSCR: 2.45
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $109,554
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
974 Restful Rd	0.20mi	2/2.0	960 (-0%)	3mo	$109,575	$114	84
786 Roses Ln	0.36mi	2/2.0	1,056 (+10%)	4mo	$149,000	$141	60
3500 Celestial Way	0.75mi	2/2.0	1,100 (+14%)	24mo	$85,000	$77	17

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: 27.4%
• Equity multiple: 2.13×
• Total profit: $23,430
• Equity at exit: $11,019

10-year hold

• IRR: 34.7%
• Equity multiple: 4.13×
• Total profit: $64,704
• Equity at exit: $6,390

Cash invested: $20,692 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,526 high
• Mortgage (P&I): −$388
• Tax from tax record: −$112 /mo · $1,346/yr
• Insurance: −$31
• HOA: −$112
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $563

Break-even live

Break-even rent $813

Max offer price $73,900

Occupancy floor 58%

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	23d	1	0.12mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	23d	1	0.21mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	23d	1	0.47mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	3d	1	0.47mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	23d	1	0.58mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	0.81mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	0.86mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	23d	1	1.10mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	23d	1	1.17mi
8086 Heck Dr Unit 6 North Fort Myers, FL	2.0	1.0	600	$800	$1.33	23d	1	1.18mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	23d	1	1.22mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.24mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	23d	1	1.25mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	1d	27	1.37mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	23d	1	1.37mi
1846 Powell Dr Unit 28 North Fort Myers, FL	1.0	1.0	850	$1,500	$1.76	3d	1	1.46mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	14d	1	1.47mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	23d	1	1.47mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	10d	1	1.49mi
2211 Cantor Ln North Fort Myers, FL	2.0	2.0	672	$850	$1.26	2d	1	1.50mi

HOA detail

• Monthly dues: $112 · $1,344/yr

Listing history 35 events

1. 2026-06-07
   statusdays on market $73,900 Pending 77 DOM
2. 2026-06-03
   days on market $73,900 Active 75 DOM
3. 2026-06-02
   days on market $73,900 Active 74 DOM
4. 2026-06-01
   days on market $73,900 Active 73 DOM
5. 2026-06-01
   days on market $73,900 Active 72 DOM
6. 2026-05-10
   price $83,900
7. 2026-04-26
   price $86,900
8. 2026-03-31
   price $87,400
9. 2026-03-20
   listed $87,900 Active
10. 2026-03-20
    historical
11. 2026-02-17
    status Pending With Contingencies
12. 2026-02-06
    price $87,900
13. 2025-12-30
    price $89,900
14. 2025-10-14
    listed $97,000 Active
15. 2025-07-21
    historical
16. 2025-07-02
    price $89,900
17. 2025-06-24
    price $98,800
18. 2025-05-23
    status Active
19. 2025-05-21
    historical
20. 2025-05-19
    price $98,900
21. 2025-03-25
    price $99,000
22. 2025-03-10
    price $108,900
23. 2025-02-16
    price $109,900
24. 2025-01-17
    price $113,000
25. 2025-01-03
    price $115,500
26. 2024-12-06
    price $117,500
27. 2024-10-23
    listed $119,900 Active
28. 2014-12-17
    soldstatus $40,000
29. 2014-12-17
    price $42,000
30. 2014-11-20
    listed $40,000
31. 2006-06-07
    soldstatus $60,000
32. 2006-05-31
    price $69,800
33. 2005-05-31
    soldstatus $52,500
34. 2005-05-01
    price $62,000
35. 1982-10-01
    soldstatus $30,000

ⓘ 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: $1,346 · $112/mo
• Projected year-2 tax: $1,346 · $112/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $18,314
• − Mortgage interest: −$4,140
• − Property taxes: −$1,346
• − Insurance: −$370
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − HOA: −$1,344
• − Depreciation: −$2,150
• Taxable income: $6,035
• Est. tax owed @ 24.0%: −$1,448
• After-tax cash flow: $5,309/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

+179.7% since first listed

30 events — show timeline

• 2026-05-10 Price Changed $83,900 NAPLESMLS
• 2026-04-26 Price Changed $86,900 NAPLESMLS
• 2026-03-31 Price Changed $87,400 NAPLESMLS
• 2026-03-20 Listing Removed — NAPLESMLS
• 2026-03-20 Listed $87,900 NAPLESMLS
• 2026-02-17 Pending — NAPLESMLS
• 2026-02-06 Price Changed $87,900 NAPLESMLS
• 2025-12-30 Price Changed $89,900 NAPLESMLS
• 2025-10-14 Listed $97,000 NAPLESMLS
• 2025-07-21 Listing Removed — NAPLESMLS
• 2025-07-02 Price Changed $89,900 NAPLESMLS
• 2025-06-24 Price Changed $98,800 NAPLESMLS
• 2025-05-23 Relisted — NAPLESMLS
• 2025-05-21 Listing Removed — NAPLESMLS
• 2025-05-19 Price Changed $98,900 NAPLESMLS
• 2025-03-25 Price Changed $99,000 NAPLESMLS
• 2025-03-10 Price Changed $108,900 NAPLESMLS
• 2025-02-16 Price Changed $109,900 NAPLESMLS
• 2025-01-17 Price Changed $113,000 NAPLESMLS
• 2025-01-03 Price Changed $115,500 NAPLESMLS
• 2024-12-06 Price Changed $117,500 NAPLESMLS
• 2024-10-23 Listed $119,900 NAPLESMLS
• 2014-12-17 Price Changed $42,000 FORTMLS
• 2014-12-17 Sold (MLS) $40,000 FORTMLS
• 2014-11-20 Listed $40,000 FORTMLS
• 2006-06-07 Sold (MLS) $60,000 FORTMLS
• 2006-05-31 Price Changed $69,800 FORTMLS
• 2005-05-31 Sold (MLS) $52,500 FORTMLS
• 2005-05-01 Price Changed $62,000 FORTMLS
• 1982-10-01 Sold (Public Records) $30,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $1,346 · +10.1% YoY. Source: county tax records.