1847 Henderson Ave · Fort Myers, FL 33916

$198,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 49 Days on market

Built 1941 6,970 sqft lot Est $220k · 10% under ↓ 6% since listing

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Why this score? — see what drove the C 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 +19.7/30.0
• ARV discount +11.9/15.0
• DSCR +6.2/10.0
• 1% rule +5.3/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

“CASH ONLY ". Ideal for investors seeking a return on investment through rental income. ” TCL New roof and gutters (September 2023) SHORT SALE

Key facts

• 6,970 sq ft lot
• Built 1941
• Listed 49 days

Property features AI

Finance

• Other: Homestead exemption indicated; Zoning: RM-12; Lot approximately 0.16 acres (about 648 sq meters)
• Financial info:
• HOA & community: No HOA/association

Exterior

• Parking:
• Security:
• Utilities: Well water; Septic tank; Broadband/high-speed internet available; Cable available; Electricity available; Paved public road access
• Home design: Single-family residence; One story; Faces east; Residential property in fixer condition
• Construction: Concrete construction; Shingle roof; Block foundation; Built on one level
• Exterior features: Other exterior features

Interior

• Kitchen: Cooktop; Dishwasher; Garbage disposal
• Bedrooms: 4 bedrooms (one-story home)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Mini-split unit(s)
• Interior features: Kitchen and family room combined; Solid wood cabinets; Stone countertops; Vaulted ceilings
• Laundry & utility: Laundry located outside; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $192k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.0% in 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 falling (-4.3%/yr); 267 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $2,037/mo this rent would consume 46% of the median local household income ($53k/yr) (locally 2324% 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 $1k of loan paydown is wiped out by about $6k 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 49 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.03% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $219,700
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2997 Price Ave	0.42mi	3/2.0	1,180 (-9%)	9mo	$185,000	$157	54
2152 Pauldo St	0.52mi	2/1.0 (-1)	1,201 (-8%)	8mo	$87,500	$73	51
2809 Thomas St	0.73mi	3/2.0	1,259 (-3%)	14mo	$199,900	$159	45
2979 Blount St	0.41mi	4/2.0 (+1)	1,392 (+7%)	21mo	$265,000	$190	42
2981 Market St	0.59mi	4/1.0 (+1)	1,248 (-4%)	24mo	$259,900	$208	41
2836 Indian St	0.59mi	3/2.0	1,180 (-9%)	17mo	$199,000	$169	39
2775 Lime St	0.66mi	3/2.0	1,115 (-14%)	17mo	$245,000	$220	28

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.58×
• Total profit: $-23,344
• Equity at exit: $29,522

10-year hold

• IRR: -8.1%
• Equity multiple: 0.56×
• Total profit: $-24,354
• Equity at exit: $17,119

Cash invested: $55,440 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 267
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,037 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$258 /mo · $3,099/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $230

Break-even live

Break-even rent $1,746

Max offer price $198,000

Occupancy floor 84%

Sensitivity live

Price	-10% $342	-5% $286	+0% $230	+5% $174	+10% $118
Rent	-10% $69	-5% $150	+0% $230	+5% $311	+10% $391
Rate	-1.0pp $330	-0.5pp $281	base $230	+0.5pp $179	+1.0pp $127

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3216 Dale St Fort Myers, FL	2.0	1.0	886	$1,650	$1.86	4d	1	0.13mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	3d	1	0.21mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,900	$1.73	25d	1	0.21mi
2103 French St Unit 2 Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	25d	1	0.21mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	3d	1	0.21mi
2225 Carver Ave Fort Myers, FL	3.0	2.0	1193	$2,200	$1.84	25d	1	0.33mi
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$2,021	$2.05	4d	34	0.33mi
3034 Price Ave Fort Myers, FL	3.0	2.0	1367	$2,100	$1.54	4d	1	0.37mi
3323 Michigan Ave Fort Myers, FL	3.0	2.0	1029	$1,600	$1.55	22d	1	0.39mi
2218 Quality Life Center Way Fort Myers, FL	4.0	2.0	1257	$2,250	$1.79	25d	1	0.39mi
2147 Pauldo St Fort Myers, FL	3.0	2.0	1088	$1,395	$1.28	25d	1	0.49mi
3306 Bassie Ct Fort Myers, FL	4.0	2.0	1257	$2,100	$1.67	25d	1	0.50mi
2987 Thomas St Fort Myers, FL	3.0	2.0	1200	$2,100	$1.75	22d	1	0.52mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1285	$2,300	$1.79	17d	1	0.53mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1111	$2,300	$2.07	4d	1	0.53mi
2132 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	25d	1	0.54mi
2188 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	25d	1	0.58mi
3141 Edison Ave Fort Myers, FL	4.0	1.0	1136	$1,500	$1.32	25d	1	0.64mi
2197 Davis Ct Fort Myers, FL	4.0	2.0	1257	$2,450	$1.95	4d	1	0.65mi
1775 Glenway Ct Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	25d	1	0.66mi
3341 Willard St Fort Myers, FL	4.0	2.0	1257	$2,500	$1.99	17d	1	0.68mi
3341 Willard St Fort Myers, FL	4.0	2.0	1619	$2,500	$1.54	20d	1	0.68mi
1270 Allen St Unit B Fort Myers, FL	3.0	2.0	1085	$1,700	$1.57	25d	1	0.75mi
2656 Lime St Fort Myers, FL	4.0	2.0	1232	$1,700	$1.38	4d	1	0.81mi
3417 South St Fort Myers, FL	3.0	2.0	1008	$1,695	$1.68	25d	1	0.87mi
3425 South St Fort Myers, FL	3.0	1.0	1132	$1,395	$1.23	4d	1	0.88mi
2651 Market St Fort Myers, FL	3.0	2.0	1184	$1,295	$1.09	25d	1	0.91mi
2649 Market St Unit 2651 Fort Myers, FL	3.0	2.0	1184	$1,250	$1.06	20d	1	0.91mi
2825 Palm Beach Blvd Fort Myers, FL	1.0–3.0	1.5–2.5	990	$2,200	$2.22	11d	7	0.92mi
2885 Palm Beach Blvd #402 Fort Myers, FL	2.0	2.0	938	$1,850	$1.97	15d	1	0.92mi
2885 Palm Beach Blvd #402 Fort Myers, FL	2.0	2.0	938	$1,850	$1.97	15d	1	0.92mi
3000 Oasis Grand Blvd #3006 Fort Myers, FL	2.0	2.0	1008	$3,500	$3.47	25d	1	0.93mi
3000 Oasis Grand Blvd #2206 Fort Myers, FL	2.0	2.0	898	$1,750	$1.95	22d	1	0.93mi
3000 Oasis Grand Blvd #2004 Fort Myers, FL	3.0	2.5	1708	$2,995	$1.75	25d	1	0.93mi
3000 Oasis Grand Blvd #903 Fort Myers, FL	2.0	2.0	1592	$1,975	$1.24	4d	1	0.93mi
3000 Oasis Grand Blvd #401 Fort Myers, FL	3.0	2.5	1854	$3,000	$1.62	25d	1	0.93mi
3000 Oasis Grand Blvd #407 Fort Myers, FL	2.0	2.5	1802	$2,700	$1.50	25d	1	0.93mi
3000 Oasis Grand Blvd #801 Fort Myers, FL	3.0	2.5	1854	$4,000	$2.16	25d	1	0.93mi
3000 Oasis Grand Blvd #903 Fort Myers, FL	2.0	2.0	1592	$1,975	$1.24	25d	1	0.93mi
3000 Oasis Grand Blvd #2004 Fort Myers, FL	3.0	2.5	1708	$2,995	$1.75	13d	1	0.93mi

Listing history 37 events

1. 2026-06-17
   days on market $198,000 Active 49 DOM
2. 2026-06-16
   days on market $198,000 Active 48 DOM
3. 2026-06-15
   days on market $198,000 Active 47 DOM
4. 2026-06-13
   days on market $198,000 Active 45 DOM
5. 2026-06-10
   days on market $198,000 Active 42 DOM
6. 2026-06-09
   days on market $198,000 Active 41 DOM
7. 2026-06-08
   days on market $198,000 Active 40 DOM
8. 2026-06-07
   days on market $198,000 Active 39 DOM
9. 2026-06-03
   days on market $198,000 Active 35 DOM
10. 2026-06-02
    days on market $198,000 Active 34 DOM
11. 2026-06-01
    days on market $198,000 Active 33 DOM
12. 2026-05-31
    days on market $198,000 Active 32 DOM
13. 2026-04-29
    listed $198,000 Active
14. 2026-03-27
    historical $2,000
15. 2026-03-16
    listed $2,000
16. 2026-03-09
    listed $198,000 Active 161-char remark

    Show marketing remark (161 chars)

    “CASH ONLY ". Ideal for investors seeking a return on investment through rental income. ” TCL New roof and gutters (September 2023) SHORT SALE

17. 2025-07-31
    historical
18. 2025-04-14
    listed $240,000 Active
19. 2024-11-15
    historical
20. 2024-10-02
    historical
21. 2024-09-10
    price $239,999
22. 2024-08-26
    listed $240,000 Active
23. 2024-08-22
    status Pending
24. 2024-08-20
    listed $240,000 Active
25. 2024-06-13
    soldstatus $190,000
26. 2024-06-07
    soldstatus $190,000 Closed
27. 2024-06-06
    soldstatus $190,000 Closed
28. 2024-04-19
    status Pending
29. 2024-03-07
    status Active
30. 2024-02-02
    status Pending
31. 2024-01-23
    price $185,000
32. 2023-12-14
    status Active
33. 2023-11-21
    status Pending
34. 2023-11-15
    price $175,000
35. 2023-11-03
    price $185,000
36. 2023-10-13
    price $195,000
37. 2023-09-20
    listed $209,900 Active

ⓘ 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: $3,099 · $258/mo
• Projected year-2 tax: $3,099 · $258/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $24,448
• − Mortgage interest: −$11,091
• − Property taxes: −$3,099
• − Insurance: −$990
• − Repairs & maintenance: −$1,956
• − Management: −$1,956
• − Depreciation: −$5,760
• Taxable loss: −$404
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $2,862/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime B+ Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

-5.7% since first listed

25 events — show timeline

• 2026-04-29 Listed $198,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-27 Rental Removed $2,000 NAPLESMLS
• 2026-03-16 Listed for Rent $2,000 NAPLESMLS
• 2026-03-09 Listed $198,000 NAPLESMLS
• 2025-07-31 Listing Removed — NAPLESMLS
• 2025-04-14 Listed $240,000 NAPLESMLS
• 2024-11-15 Listing Removed — Beaches MLS
• 2024-10-02 Listing Removed — NAPLESMLS
• 2024-09-10 Price Changed $239,999 NAPLESMLS
• 2024-08-26 Listed $240,000 NAPLESMLS
• 2024-08-22 Pending — FORTMLS
• 2024-08-20 Listed $240,000 Beaches MLS
• 2024-06-13 Sold (Public Records) $190,000 Public Records
• 2024-06-07 Sold (MLS) $190,000 FORTMLS
• 2024-06-06 Sold (MLS) $190,000 FORTMLS
• 2024-04-19 Pending — FORTMLS
• 2024-03-07 Relisted — FORTMLS
• 2024-02-02 Pending — FORTMLS
• 2024-01-23 Price Changed $185,000 FORTMLS
• 2023-12-14 Relisted — FORTMLS
• 2023-11-21 Pending — FORTMLS
• 2023-11-15 Price Changed $175,000 FORTMLS
• 2023-11-03 Price Changed $185,000 FORTMLS
• 2023-10-13 Price Changed $195,000 FORTMLS
• 2023-09-20 Listed $209,900 FORTMLS

Property tax history

+13.2%/yr

Latest (2025): $3,099 · +28.0% YoY. Source: county tax records.