114 Leopard Ln #114 · North Fort Myers, FL 33917

$67,900

4 bd · 2.0 ba · 1,500 sqft · Manufactured · 142 Days on market

Manufactured home Built 2026 Good condition $45/sqft · 46% below area Est $125k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -6.6

Listing remarks

Welcome to Island Vista Estates an all age active and vibrant community, where you can find the perfect home. Unlock the potential in this 2019 1500.80 sq ft 4 bed, 2 bath home located in North Fort Myers. This property is perfect for investors, flippers, or savvy buyers looking for a little project with strong upside potential. This home offers a solid structure and layout with plenty of room for customization. While the property does require minor upgrades or repairs, it presents a rare opportunity to renovate to your taste or maximize resale value in a thriving market. Features include a carport, storage shed, and within walking distance to the pool and clubhouse.

Key facts

• Carport
• Storage shed
• Solid structure

Tags

• SOLID STRUCTURE
• CUSTOMIZATION POTENTIAL
• CARPORT
• STORAGE SHED
• WALKING DISTANCE TO POOL
• WALKING DISTANCE TO CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.2% vs local median 3.7% 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.
• 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); 1360 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 36% 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 $469 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.44% ✓
• Cap rate: 21.17%
• Cash-on-cash: 53.14%
• DSCR: 3.36
• GRM: 3.4

CMA / ARV

• ARV (median comp): $125,000
• List price: $67,900
• Delta: -45.68%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17561 Monte Isola Way	0.47mi	3/2.0 (-1)	1,500 (0%)	2mo	$256,000	$171	72
17329 Cantu Ct	0.13mi	4/2.0	1,824 (+22%)	1mo	$267,500	$147	68
17155 Pompeii Way	0.15mi	3/2.0 (-1)	1,843 (+23%)	1mo	$284,000	$154	62
7993 Ebson Dr	1.20mi	3/2.0 (-1)	1,500 (0%)	1mo	$210,000	$140	59
4108 Pacenza Pl	0.40mi	4/2.5	1,874 (+25%)	1mo	$280,000	$149	53
694 Dream Ln	0.97mi	3/2.0 (-1)	1,584 (+6%)	1mo	$65,000	$41	50
2673 Soft Coral Way	1.25mi	3/2.0 (-1)	1,614 (+8%)	0mo	$345,000	$214	47
2674 Soft Coral Way	1.26mi	3/2.0 (-1)	1,614 (+8%)	1mo	$323,990	$201	47
16820 Elkhorn Coral Dr	1.39mi	3/2.0 (-1)	1,614 (+8%)	1mo	$335,000	$208	46
4245 Caterina Ct	0.73mi	3/2.5 (-1)	1,347 (-10%)	1mo	$199,000	$148	41
8269 Penny Dr	1.29mi	3/2.0 (-1)	1,679 (+12%)	1mo	$145,000	$86	39
2672 Star Coral Dr	1.32mi	3/2.0 (-1)	1,302 (-13%)	1mo	$285,000	$219	37

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: 50.8%
• Equity multiple: 3.21×
• Total profit: $42,032
• Equity at exit: $10,124

10-year hold

• IRR: 56.0%
• Equity multiple: 6.43×
• Total profit: $103,245
• Equity at exit: $5,871

Cash invested: $19,012 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 42 active · 2 under contract
• Months of supply: 252.0 mo (0%/mo absorbed)
• Median asking: $141,450 ($100/sqft)
• Median days on market: 77 d
• This list price: 29% of active listings are priced below it
• ARV vs active asking: -16.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 1360
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$356
• Tax est. 1.5%: −$85 /mo · $1,018/yr
• Insurance: −$28
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $842

Break-even live

Break-even rent $594

Max offer price $67,900

Occupancy floor 44%

Sensitivity live

Price	-10% $889	-5% $865	+0% $842	+5% $818	+10% $795
Rent	-10% $711	-5% $776	+0% $842	+5% $908	+10% $973
Rate	-1.0pp $876	-0.5pp $859	base $842	+0.5pp $824	+1.0pp $806

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: $16,975
• Closing costs: $2,037
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
574 Leopard Ln #574 North Fort Myers, FL	4.0	2.0	1459	$1,599	$1.10	109d	1	0.09mi
17313 Cantu Ct North Fort Myers, FL	3.0	2.0	1487	$1,899	$1.28	3d	1	0.14mi
55 Eland Dr #55 North Fort Myers, FL	4.0	2.0	1290	$1,599	$1.24	62d	1	0.15mi
17329 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,250	$1.23	0d	1	0.15mi
17289 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,100	$1.15	7d	1	0.16mi
17316 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$1,950	$1.07	80d	1	0.17mi
17281 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,050	$1.12	9d	1	0.18mi
17158 Pompeii Way North Fort Myers, FL	4.0	3.0	2205	$2,600	$1.18	109d	1	0.18mi
17332 Cantu Ct North Fort Myers, FL	4.0	3.0	2174	$2,300	$1.06	9d	1	0.19mi
17260 Cantu Ct North Fort Myers, FL	4.0	2.0	1817	$2,100	$1.16	9d	1	0.19mi
239 Sable Dr #239 North Fort Myers, FL	3.0	2.0	1393	$1,499	$1.08	63d	1	0.20mi
17244 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,250	$1.23	7d	1	0.20mi
17244 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	110d	1	0.20mi
17265 Cantu Ct North Fort Myers, FL	3.0	2.0	1344	$1,800	$1.34	9d	1	0.21mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	99d	1	0.22mi
17360 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,300	$1.26	3d	1	0.23mi
17245 Cantu Ct North Fort Myers, FL	3.0	2.0	1200	$2,000	$1.67	9d	1	0.23mi
17216 Cantu Ct North Fort Myers, FL	3.0	2.0	1340	$1,800	$1.34	9d	1	0.24mi
17225 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	119d	1	0.25mi
171 Eland Dr #171 North Fort Myers, FL	3.0	2.0	1286	$1,399	$1.09	9d	1	0.27mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	110d	1	0.28mi
533 Zebra Dr #533 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	65d	1	0.28mi
4106 San Felice Ln North Fort Myers, FL	4.0	2.5	1874	$2,400	$1.28	119d	1	0.36mi
4106 Lattuca Ln North Fort Myers, FL	4.0	2.5	1874	$2,200	$1.17	119d	1	0.38mi
4106 Granita Ct North Fort Myers, FL	4.0	2.5	1812	$2,300	$1.27	119d	1	0.41mi
2861 N 2nd St North Fort Myers, FL	3.0	2.0	1951	$2,500	$1.28	119d	1	0.42mi
2861 N 2nd St North Fort Myers, FL	3.0	2.0	1951	$2,200	$1.13	9d	1	0.42mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,000	$1.23	80d	1	0.47mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,000	$1.23	0d	1	0.47mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	119d	1	0.49mi
17633 Paradiso Way North Fort Myers, FL	3.0	2.0	1500	$1,750	$1.17	9d	1	0.49mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,950	$1.26	9d	1	0.49mi
17616 Paradiso Way Unit 17616 North Fort Myers, FL	4.0	2.0	1817	$2,200	$1.21	9d	1	0.49mi
17556 Monte Isola Way North Fort Myers, FL	3.0	2.0	1700	$1,950	$1.15	65d	1	0.49mi
4232 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,450	$0.76	9d	1	0.61mi
4234 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,450	$0.76	9d	1	0.62mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	109d	1	0.63mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	110d	1	0.64mi
4197 Camisa Ct North Fort Myers, FL	3.0	2.5	1347	$1,700	$1.26	9d	1	0.65mi
17711 Paradiso Way Unit 17711 North Fort Myers, FL	4.0	2.0	1812	$2,100	$1.16	6d	1	0.66mi

Property features AI

Finance

• Financial info: List price $109,505

Exterior

• Home design: Spec-built plan named Southport
• Construction: Property located at 114 Leopard Ln #114, North Fort Myers, FL 33917

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Living area approximately 1,500

Listing history 50 events

1. 2026-09-23
   days on market $67,900 Active 142 DOM
2. 2026-09-22
   days on market $67,900 Active 141 DOM
3. 2026-09-21
   days on market $67,900 Active 140 DOM
4. 2026-09-17
   days on market $67,900 Active 136 DOM
5. 2026-09-13
   days on market $67,900 Active 132 DOM
6. 2026-09-13
   days on market $67,900 Active 131 DOM
7. 2026-09-11
   days on market $67,900 Active 130 DOM
8. 2026-09-05
   days on market $67,900 Active 124 DOM
9. 2026-09-04
   pricedays on market $67,900 Active 123 DOM
10. 2026-08-31
    days on market $77,900 Active 119 DOM
11. 2026-08-28
    pricedays on market $77,900 Active 116 DOM
12. 2026-08-26
    days on market $79,900 Active 114 DOM
13. 2026-08-24
    days on market $79,900 Active 112 DOM
14. 2026-08-23
    days on market $79,900 Active 111 DOM
15. 2026-08-21
    days on market $79,900 Active 109 DOM
16. 2026-08-20
    days on market $79,900 Active 108 DOM
17. 2026-08-19
    days on market $79,900 Active 107 DOM
18. 2026-08-18
    days on market $79,900 Active 106 DOM
19. 2026-08-16
    days on market $79,900 Active 104 DOM
20. 2026-08-15
    days on market $79,900 Active 103 DOM
21. 2026-08-13
    days on market $79,900 Active 101 DOM
22. 2026-08-09
    days on market $79,900 Active 97 DOM
23. 2026-08-06
    days on market $79,900 Active 94 DOM
24. 2026-08-05
    days on market $79,900 Active 93 DOM
25. 2026-07-26
    days on market $79,900 Active 83 DOM
26. 2026-07-24
    days on market $79,900 Active 81 DOM
27. 2026-07-23
    days on market $79,900 Active 80 DOM
28. 2026-07-22
    days on market $79,900 Active 79 DOM
29. 2026-07-21
    days on market $79,900 Active 78 DOM
30. 2026-07-18
    days on market $79,900 Active 75 DOM
31. 2026-07-18
    days on market $79,900 Active 74 DOM
32. 2026-07-16
    days on market $79,900 Active 73 DOM
33. 2026-07-15
    days on market $79,900 Active 72 DOM
34. 2026-07-13
    days on market $79,900 Active 70 DOM
35. 2026-07-13
    days on market $79,900 Active 69 DOM
36. 2026-07-12
    days on market $79,900 Active 68 DOM
37. 2026-07-10
    days on market $79,900 Active 67 DOM
38. 2026-07-10
    days on market $79,900 Active 66 DOM
39. 2026-07-07
    days on market $79,900 Active 64 DOM
40. 2026-07-06
    days on market $79,900 Active 63 DOM
41. 2026-07-05
    days on market $79,900 Active 62 DOM
42. 2026-07-02
    days on market $79,900 Active 59 DOM
43. 2026-07-01
    days on market $79,900 Active 58 DOM
44. 2026-06-30
    days on market $79,900 Active 57 DOM
45. 2026-06-29
    days on market $79,900 Active 56 DOM
46. 2026-06-28
    days on market $79,900 Active 55 DOM
47. 2026-06-25
    days on market $79,900 Active 51 DOM
48. 2026-06-22
    days on market $79,900 Active 48 DOM
49. 2026-06-17
    days on market $79,900 Active 44 DOM
50. 2026-06-16
    days on market $79,900 Active 43 DOM

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

Taxation est. · year 1

• Rental income: $19,917
• − Mortgage interest: −$3,803
• − Property taxes: −$1,018
• − Insurance: −$340
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$1,975
• Taxable income: $9,594
• Est. tax owed @ 24.0%: −$2,302
• After-tax cash flow: $7,801/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $7,500–$22,500 screening

This 2019 manufactured home in North Fort Myers, FL, offers a good condition with minimal repairs needed. It presents a great opportunity for investors to renovate and maximize its value in a thriving market.

Value-add opportunities

• Resale paint exterior — enhances curb appeal ↑
• Both landscaping — improves curb appeal and enhances property value ↑
• Both install new flooring — updates the look and feel of the home ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary North Fort Myers Academy For The Arts C FL #936/2,144 Nat'l #10,700/41,679 Middle Caloosa Middle School D FL #310/571 Nat'l #4,622/14,009 High Island Coast High School F FL #470/667 Nat'l #11,797/17,239

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

B Composite livability gradescore 74/100

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 · 871,946 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: 35% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: List price $109,505

Exterior

• Home design: Spec-built plan named Southport
• Construction: Property located at 114 Leopard Ln #114, North Fort Myers, FL 33917

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Living area approximately 1,500