507 Suwanee Drive Plan · North Fort Myers, FL 33917

$59,900

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 18 Days on market

Manufactured home Good condition $57/sqft · 29% below area Est $85k · 29% 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

Own your own 3 bed/2 bath home! Make an appointment now to see this spacious brand new home with plenty of space for you and your family. Low monthly payments available. Call us to schedule your viewing of this feature-packed home in Eagle Estates, a well-maintained, professionally managed manufactured home community!

Key facts

• Listed 17 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 3.9% 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: Sunshine Elementary School (math 38% / reading 42%, grade F, #1,491 of 2,144 statewide, top 70%, 1,301 students, 74% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents rising (+2.6%/yr); 1203 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.11% ✓
• Cap rate: 17.98%
• Cash-on-cash: 41.72%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

• ARV (median comp): $84,535
• List price: $59,900
• Delta: -29.14%
• Verdict: UNDERPRICED
• Comps: 16 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Amber Ave	1.15mi	2/2.0 (-1)	1,040 (-2%)	2mo	$52,900	$51	56
1720 Club House Rd W	1.39mi	2/2.0 (-1)	1,068 (+1%)	3mo	$330,000	$309	56
2114 E Gardenia Cir	1.18mi	3/1.0	1,032 (-2%)	4mo	$199,900	$194	54
110 Gaslight Ave	1.07mi	2/2.0 (-1)	1,086 (+3%)	4mo	$56,000	$52	52
734 Knotty Pine Cir	1.23mi	2/2.0 (-1)	1,152 (+9%)	4mo	$148,000	$128	41
2230 Costello Ln	0.93mi	3/2.0	1,310 (+24%)	5mo	$190,000	$145	36
7580 Marx Dr	1.35mi	2/2.0 (-1)	1,176 (+11%)	7mo	$138,000	$117	35
8326 Breeze Dr	1.04mi	2/2.0 (-1)	792 (-25%)	0mo	$75,000	$95	35
2263 Club House Rd	1.41mi	2/1.0 (-1)	1,173 (+11%)	5mo	$244,880	$209	33
139 Gaslight Ave	1.09mi	2/1.5 (-1)	836 (-21%)	0mo	$70,000	$84	33
16268 Horizon Rd	0.74mi	3/2.0	1,250 (+18%)	12mo	$289,500	$232	31
8189 Mcdaniel Dr	1.13mi	2/1.0 (-1)	840 (-20%)	15mo	$65,000	$77	19

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: 37.9%
• Equity multiple: 2.61×
• Total profit: $26,987
• Equity at exit: $8,931

10-year hold

• IRR: 44.3%
• Equity multiple: 5.14×
• Total profit: $69,498
• Equity at exit: $5,179

Cash invested: $16,772 (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 →

Active competition Active MLS

• For sale now: 43 active · 1 under contract
• Median asking: $59,900 ($57/sqft)
• Median days on market: 62 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: +41.1% above 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: 1203
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,262 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $583

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 49%

Sensitivity live

Price	-10% $625	-5% $604	+0% $583	+5% $562	+10% $542
Rent	-10% $483	-5% $533	+0% $583	+5% $633	+10% $683
Rate	-1.0pp $613	-0.5pp $598	base $583	+0.5pp $568	+1.0pp $552

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: $14,975
• Closing costs: $1,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Suwanee Dr North Fort Myers, FL	3.0	2.0	1480	$1,650	$1.11	72d	1	0.05mi
16900 Slater Rd North Fort Myers, FL	2.0–4.0	2.0	1176	$1,322	$1.12	15d	15	0.21mi
8028 Breeze Dr North Fort Myers, FL	2.0	1.0	750	$850	$1.13	72d	1	0.69mi
2388 Case Ln North Fort Myers, FL	3.0	2.0	1064	$1,825	$1.72	52d	1	0.74mi
7622 Peyraud Dr North Fort Myers, FL	3.0	2.0	1404	$1,350	$0.96	72d	1	0.76mi
2376 Case Ln Unit A North Fort Myers, FL	2.0	2.0	1440	$1,800	$1.25	72d	1	0.76mi
2500 Gail Helen Ct North Fort Myers, FL	3.0	2.0	1296	$1,500	$1.16	72d	1	0.77mi
15020 Caspian Tern Ct Unit 103 North Fort Myers, FL	2.0	2.5	1286	$1,500	$1.17	25d	1	0.88mi
15050 Caspian Tern Ct #103 North Fort Myers, FL	2.0	2.5	1365	$1,530	$1.12	16d	1	0.90mi
15051 Caspian Tern Ct #106 North Fort Myers, FL	2.0	2.5	1374	$1,500	$1.09	41d	1	0.96mi
15100 Caspian Tern Ct North Fort Myers, FL	2.0	2.5	1365	$1,595	$1.17	72d	1	1.00mi
106 Gaslight Ave North Fort Myers, FL	2.0	2.0	1056	$1,400	$1.33	52d	1	1.04mi
8146 Tolles Dr North Fort Myers, FL	2.0	1.0	784	$850	$1.08	72d	1	1.05mi
280 Flame Ln North Fort Myers, FL	2.0	2.0	980	$1,200	$1.22	19d	1	1.06mi
226 Lamplighter Ln North Fort Myers, FL	2.0	1.0	900	$899	$1.00	72d	1	1.07mi
234 Lamplighter Ln North Fort Myers, FL	2.0	2.0	864	$895	$1.04	63d	1	1.09mi
110 Amber Ave North Fort Myers, FL	2.0	2.0	720	$1,200	$1.67	16d	1	1.10mi
123 Torch Ln North Fort Myers, FL	2.0	2.0	1237	$1,500	$1.21	19d	1	1.17mi
130 Lantern Pl North Fort Myers, FL	2.0	2.0	1320	$1,500	$1.14	19d	1	1.17mi
137 Lantern Pl Unit A North Fort Myers, FL	2.0	1.0	1080	$1,200	$1.11	52d	1	1.19mi
7306 Coon Rd North Fort Myers, FL	2.0	1.0	1000	$1,300	$1.30	61d	1	1.23mi
2023 Gish Ln North Fort Myers, FL	2.0	2.0	1188	$1,400	$1.18	17d	1	1.31mi
1916 Flamingo Dr North Fort Myers, FL	2.0	1.0	852	$1,195	$1.40	19d	1	1.32mi
1916 Flamingo Dr North Fort Myers, FL	2.0	1.0	852	$1,275	$1.50	72d	1	1.32mi
8086 Heck Dr Unit 1A North Fort Myers, FL	2.0	2.0	800	$850	$1.06	30d	1	1.36mi
15390 Moonraker Ct #411 North Fort Myers, FL	2.0	2.0	1190	$1,500	$1.26	41d	1	1.47mi

Listing history 4 events

1. 2026-06-09
   days on market $59,900 Active 18 DOM
2. 2026-06-07
   days on market $59,900 Active 16 DOM
3. 2026-06-01
   days on market $59,900 Active 10 DOM
4. 2026-06-01
   days on market $59,900 Active 9 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: $15,146
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$1,743
• Taxable income: $6,427
• Est. tax owed @ 24.0%: −$1,542
• After-tax cash flow: $5,456/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 · 5 photos

Good 80/100 None rehab

This spacious, brand new manufactured home in Eagle Estates is move-in ready with a good condition score and minimal maintenance required. Potential buyers and renters can benefit from updates such as painting and appliance upgrades to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Adding a small front porch — A front porch can improve curb appeal and provide a welcoming entrance. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Adding a smart home system — Smart home features can increase convenience and appeal to tech-savvy buyers and renters. ↑

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 Oak Hammock Middle School D- FL #340/571 Nat'l #5,398/14,009 High Dunbar High School F FL #429/667 Nat'l #10,806/17,239

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