5439 Rainbow Dr · Pine Island Center, FL 33922

$75,000

2 bd · 2.0 ba · 728 sqft · Manufactured public records · 9 Days on market

Built 1990 0.42 ac lot ↓ 33% 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 +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 +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits on Pine Island! Priced to sell -LAND VALUE ONLY The existing manufactured home is Non-functional and is being conveyed with no value assigned. Property is being sold AS-IS, with buyer responsible for any inspections or due diligence and intended use. Affordable opportunity to own land in desirable Bokeelia. Don't miss this value-priced property. Bring all offers!!!

Key facts

• 0.42 acre lot
• 2 garage spots
• Built 1990

Property features AI

Finance

• Other: Lot size approximately 0.42 acres (100 x 168); Living area about 728 square feet; Lot acreage: 1/4 to less than 1/2; Unit is unfurnished
• Financial info: Homestead exempt; No lease restrictions
• HOA & community: No HOA/association

Exterior

• Parking: 2-car garage
• Utilities: Public water; Other sewer; Electricity available
• Home design: Manufactured home (double wide); One story; Faces east
• Construction: Metal roof; Other construction materials; Other foundation details; Built on a single level
• Exterior features: Other exterior features; Paved road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms
• Flooring: Carpet flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Other cooling
• Interior features: No interior features listed
• Laundry & utility: No laundry features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).

Location & tenants

• Location reads 66/100 on livability (#607 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: employment D, schools F, amenities 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: 247 active listings in the ZIP; 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 $519 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 + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

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 4→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 2.10% ✓
• Cap rate: 18.60%
• Cash-on-cash: 43.94%
• DSCR: 2.96
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.9%
• Equity multiple: 1.47×
• Total profit: $9,919
• Equity at exit: $11,183

10-year hold

• IRR: 21.0%
• Equity multiple: 2.80×
• Total profit: $37,780
• Equity at exit: $6,485

Cash invested: $21,000 (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 33922

• Home prices YoY: -18.9%
• Active inventory: 247
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,576 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$31
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $342

Break-even live

Break-even rent $1,143

Max offer price $75,000

Occupancy floor 73%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $75,000 Active 9 DOM
2. 2026-06-17
   days on market $75,000 Active 8 DOM
3. 2026-06-16
   days on market $75,000 Active 7 DOM
4. 2026-06-15
   days on market $75,000 Active 6 DOM
5. 2026-06-13
   days on market $75,000 Active 4 DOM
6. 2026-06-10
   remarks 388-char remark
7. 2026-06-10
   listed $75,000 Active 1 DOM

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $622 · $52/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 4 d/yr ≥107°F today · 13 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: $18,918
• − Mortgage interest: −$4,201
• − Property taxes: −$622
• − Insurance: −$5,494
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$2,182
• Taxable income: $3,392
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $3,295/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 — Pine Island Center

• Score: 66/100
• State rank: #607
• US rank: #11720

Category grades

Amenities F Commute F Cost of living A Crime A+ Employment D Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Island Center, FL
• Population (ZIP): 4,179

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 19% Two or more races 15% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 14% · Canada
• Languages at home: 81% English-only · Spanish 18% Vietnamese 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: ▼ -71.08%
• Current HPI: 304.2139
• Rent YoY: —
• Metro: —
• 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

-33.0% since first listed

2 events — show timeline

• 2026-06-09 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-02 Sold (Public Records) $112,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $622 · +10.4% YoY. Source: county tax records.