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

$79,900

4 bd · 2.0 ba · 1,500 sqft · Manufactured · 44 Days on market

Built 2026 Good condition

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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
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

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. Located in the desirabl

Key facts

• Carport
• Storage shed
• Solid structure

Tags

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

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

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $2,183/mo this rent would consume 48% 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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.73% ✓
• Cap rate: 23.90%
• Cash-on-cash: 62.87%
• DSCR: 3.80
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 61.4%
• Equity multiple: 3.72×
• Total profit: $60,925
• Equity at exit: $11,913

10-year hold

• IRR: 65.9%
• Equity multiple: 7.53×
• Total profit: $146,012
• Equity at exit: $6,908

Cash invested: $22,372 (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: 3.1×

Monthly cashflow live

• Estimated rent: $2,183 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $1,172

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 41%

Sensitivity live

Price	-10% $1,227	-5% $1,200	+0% $1,172	+5% $1,144	+10% $1,117
Rent	-10% $1,000	-5% $1,086	+0% $1,172	+5% $1,258	+10% $1,344
Rate	-1.0pp $1,212	-0.5pp $1,192	base $1,172	+0.5pp $1,151	+1.0pp $1,130

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: $19,975
• Closing costs: $2,397
• 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	14d	1	0.09mi
17158 Pompeii Way North Fort Myers, FL	4.0	3.0	2205	$2,600	$1.18	14d	1	0.18mi
17244 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	15d	1	0.20mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	4d	1	0.22mi
17225 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	24d	1	0.25mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	15d	1	0.28mi
4106 San Felice Ln North Fort Myers, FL	4.0	2.5	1874	$2,400	$1.28	24d	1	0.36mi
4106 Lattuca Ln North Fort Myers, FL	4.0	2.5	1874	$2,200	$1.17	24d	1	0.38mi
4106 Granita Ct North Fort Myers, FL	4.0	2.5	1812	$2,300	$1.27	24d	1	0.41mi
2861 N 2nd St North Fort Myers, FL	3.0	2.0	1951	$2,500	$1.28	22d	1	0.42mi
2861 N 2nd St North Fort Myers, FL	3.0	2.0	1951	$2,500	$1.28	24d	1	0.42mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,200	$1.36	24d	1	0.47mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	4d	1	0.49mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	24d	1	0.49mi
4232 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,495	$0.78	4d	1	0.61mi
4234 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,495	$0.78	4d	1	0.62mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	14d	1	0.63mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	15d	1	0.64mi
4208 Caterina Ct North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	15d	1	0.69mi
17400 Monte Isola Way North Fort Myers, FL	3.0	2.0	1448	$1,875	$1.29	24d	1	0.70mi
4228 Caterina Ct North Fort Myers, FL	3.0	2.5	1700	$1,850	$1.09	11d	1	0.72mi
4241 Caterina Ct North Fort Myers, FL	3.0	2.5	1529	$1,900	$1.24	16d	1	0.75mi
4264 Cirella Ct North Fort Myers, FL	3.0	2.5	1442	$2,000	$1.39	12d	1	0.75mi
4276 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	24d	1	0.76mi
17392 Monte Isola Way North Fort Myers, FL	4.0	2.5	1871	$2,299	$1.23	24d	1	0.76mi
4275 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	24d	1	0.77mi
4216 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1817	$2,000	$1.10	2d	1	0.83mi
4232 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1812	$1,900	$1.05	24d	1	0.86mi
4263 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1936	$2,200	$1.14	16d	1	0.92mi
4263 Villa Rapallo Way North Fort Myers, FL	4.0	2.0	1937	$2,200	$1.14	4d	1	0.92mi
3153 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	15d	1	0.98mi
3187 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	3d	1	0.98mi
2864 Star Coral Dr Unit Na North Fort Myers, FL	3.0	2.0	1614	$1,999	$1.24	24d	1	1.04mi
2497 Ciales Ct Cape Coral, FL	3.0	2.0	1747	$1,850	$1.06	16d	1	1.07mi
2729 Foralesca Ct Cape Coral, FL	4.0	2.0	1828	$2,300	$1.26	4d	1	1.08mi
2729 Foralesca Ct Cape Coral, FL	4.0	2.0	1828	$2,300	$1.26	24d	1	1.08mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,624	$1.56	15d	9	1.11mi
3944 Pomodoro Cir #202 Cape Coral, FL	3.0	2.0	1411	$2,200	$1.56	24d	1	1.17mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$2,739	$2.60	2d	21	1.26mi
3440 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,950	$1.12	24d	1	1.28mi

Listing history 8 events

1. 2026-06-17
   days on market $79,900 Active 44 DOM
2. 2026-06-16
   days on market $79,900 Active 43 DOM
3. 2026-06-16
   days on market $79,900 Active 42 DOM
4. 2026-06-13
   days on market $79,900 Active 40 DOM
5. 2026-06-09
   days on market $79,900 Active 36 DOM
6. 2026-06-07
   days on market $79,900 Active 34 DOM
7. 2026-06-01
   days on market $79,900 Active 28 DOM
8. 2026-06-01
   days on market $79,900 Active 27 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: $26,191
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$2,095
• − Management: −$2,095
• − Depreciation: −$2,324
• Taxable income: $13,602
• Est. tax owed @ 24.0%: −$3,265
• After-tax cash flow: $10,800/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

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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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