2798 Teakwood Blvd · North Fort Myers, FL 33917

$148,900

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 180 Days on market

Built 1975 4,835 sqft lot Est $135k · 10% over $109/mo HOA · 7% of rent

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Why this score? — see what drove the D+ 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 +18.6/30.0
• 1% rule +5.9/10.0
• DSCR +5.8/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This very well kept home comes with a bonus to the buyer. At closing the buyer will get a 1997 Dodge Caravan with only 68,000 original miles(will be available for viewing at the time of showing). This home has a real double roof with shingles guarenteed 20 years.

Key facts

• Clubhouse
• Community pool
• Laundry room

Tags

• COMMUNITY POOL
• CLUBHOUSE
• CORNER LOT
• SCREENED IN PATIO
• WORKSHOP SHED
• LAUNDRY ROOM

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Homeowners association with $109 monthly fee; Association covers laundry, recreation facilities, road maintenance, street lights and trash; Community amenities include clubhouse, pool, bocce court, shuffleboard court, library, storage and management; Non-gated senior community; 190 units in community

Exterior

• Parking: Covered, attached carport; 1 covered/carport space
• Security: Street lights in community
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Aluminum siding; Single-story; Entry level: 1; Faces west; Resale condition; East exposure
• Construction: Shingle roof
• Exterior features: Patio; Lanai; Screened porch; Storage; Sprinkler/irrigation; Corner lot; Paved road

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Pantry; Eat-in kitchen
• Bedrooms: Bedroom on main level
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Furnished; Built-in features; Eat-in kitchen; Living/dining room; Pantry; Cable TV; Window coverings / treatments; Single hung windows; Shower only (separate shower)
• Laundry & utility: Washer; Dryer; Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• 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; 29 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).
• This rent runs 35% 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $66k; list at $149k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.09% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $134,784
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
826 Peaceful Dr	0.50mi	2/2.0	1,152 (0%)	3mo	$135,000	$117	74
1091 Laurel Dr	0.22mi	2/2.0	1,194 (+4%)	14mo	$79,000	$66	73
786 Roses Ln	0.52mi	2/2.0	1,056 (-8%)	4mo	$149,000	$141	59
558 Freedom St	0.70mi	2/2.0	1,182 (+3%)	14mo	$117,000	$99	51

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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-15,523
• Equity at exit: $22,201

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-3,859
• Equity at exit: $12,874

Cash invested: $41,692 (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: 846
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,234/yr
• Insurance: −$62
• HOA: −$109
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $143

Break-even live

Break-even rent $1,441

Max offer price $148,900

Occupancy floor 86%

Sensitivity live

Price	-10% $246	-5% $195	+0% $143	+5% $92	+10% $40
Rent	-10% $15	-5% $79	+0% $143	+5% $207	+10% $271
Rate	-1.0pp $218	-0.5pp $181	base $143	+0.5pp $105	+1.0pp $65

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: $37,225
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	25d	1	0.06mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	25d	1	0.18mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	25d	1	0.39mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	4d	1	0.41mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	4d	1	0.51mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	25d	1	0.63mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	16d	1	0.76mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	15d	1	0.80mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	16d	1	0.81mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	4d	1	0.88mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	16d	1	0.90mi
4208 Caterina Ct North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	16d	1	0.92mi
17400 Monte Isola Way North Fort Myers, FL	3.0	2.0	1448	$1,875	$1.29	25d	1	0.98mi
4264 Cirella Ct North Fort Myers, FL	3.0	2.5	1442	$2,000	$1.39	13d	1	1.00mi
4276 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	25d	1	1.01mi
4275 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	25d	1	1.07mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	25d	1	1.20mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	25d	1	1.28mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	25d	1	1.36mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	4d	1	1.37mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	25d	1	1.39mi
3957 Pomodoro Cir #301 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	17d	1	1.39mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	17d	1	1.41mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	25d	1	1.41mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,462	$1.40	16d	9	1.43mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1469	$1,498	$1.02	25d	2	1.49mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1534	$1,575	$1.03	4d	3	1.49mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	3d	27	1.49mi
3968 Pomodoro Cir #202 Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	16d	1	1.49mi

HOA detail

• Monthly dues: $109 · $1,308/yr

Listing history 9 events

1. 2026-02-11
   price $148,900
2. 2025-12-01
   listed $149,900 Active
3. 2025-04-06
   historical
4. 2024-11-22
   listed $168,900 Active
5. 2007-07-03
   soldstatus $66,000
6. 2007-06-26
   soldstatus $65,900 263-char remark

   Show marketing remark (263 chars)

   This very well kept home comes with a bonus to the buyer. At closing the buyer will get a 1997 Dodge Caravan with only 68,000 original miles(will be available for viewing at the time of showing). This home has a real double roof with shingles guarenteed 20 years.

7. 2007-06-19
   price $79,900 263-char remark

   Show marketing remark (263 chars)

   This very well kept home comes with a bonus to the buyer. At closing the buyer will get a 1997 Dodge Caravan with only 68,000 original miles(will be available for viewing at the time of showing). This home has a real double roof with shingles guarenteed 20 years.

8. 1979-06-01
   soldstatus $16,500
9. 1978-01-01
   soldstatus $8,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $19,460
• − Mortgage interest: −$8,341
• − Property taxes: −$2,234
• − Insurance: −$744
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − HOA: −$1,308
• − Depreciation: −$4,332
• Taxable loss: −$612
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $1,864/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 — 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

Price history

+1761.2% since first listed

9 events — show timeline

• 2026-02-11 Price Changed $148,900 FORTMLS
• 2025-12-01 Listed $149,900 FORTMLS
• 2025-04-06 Listing Removed — FORTMLS
• 2024-11-22 Listed $168,900 FORTMLS
• 2007-07-03 Sold (Public Records) $66,000 Public Records
• 2007-06-26 Sold (MLS) $65,900 FORTMLS
• 2007-06-19 Price Changed $79,900 FORTMLS
• 1979-06-01 Sold (Public Records) $16,500 Public Records
• 1978-01-01 Sold (Public Records) $8,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $134 · +8.6% YoY. Source: county tax records.