4117 Pacenza Pl

North Fort Myers, FL 33917

$309,999D

5 bd · 2.5 ba · 2,112 sqft · Built 2026 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,533/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$517
• HOA: −$0
• Vac / Maint / Mgmt: −$532
• Net cashflow: $-141/mo
• Annual: $-1,695/yr
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• 1% rule: 0.82%
• Cash to close: $86,800

Investor read

• This is a 5-bed/2.5-bath single-family listed at $310k. Condition is rated good.
• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (18.3% below list).
• It's been on market 33 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $253k (18.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Diplomat Elementary School (math 67% / reading 60%, grade B, #564 of 2,144 statewide, top 27%, 1,069 students, 56% FRL); Mariner Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,001 students, 53% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL).
• Market conditions: Rents rising (+2.6%/yr); 846 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.7% 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.
• At $2,533/mo this rent would consume 55% 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.

Questions for listing agent

• 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?
• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.