1089 Myakka Drive Plan · North Fort Myers, FL 33917

$64,900

4 bd · 2.0 ba · 1,216 sqft · Manufactured · 3 Days on market

Manufactured home Good condition $53/sqft · 40% below area Est $109k · 40% 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

Enjoy life in a tranquil setting at Eagle Estates, an exceptional place to live. Right now, we are offering a 2026 model year, 1140 sq. ft. , 4 bed/2 bath home for less than the average apartment rent! Call us today to schedule a viewing and get a glimpse of what it's like to live exceptionally.

Key facts

• Listed 2 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 21.2% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 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 $449 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $64,900

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: 2.45% ✓
• Cap rate: 21.18%
• Cash-on-cash: 53.18%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

• ARV (median comp): $108,796
• List price: $64,900
• Delta: -40.35%
• Verdict: UNDERPRICED
• Comps: 13 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16268 Horizon Rd	0.74mi	3/2.0 (-1)	1,250 (+3%)	12mo	$289,500	$232	46
2230 Costello Ln	0.93mi	3/2.0 (-1)	1,310 (+8%)	5mo	$190,000	$145	43
7591 Grady Dr	0.81mi	3/2.0 (-1)	1,188 (-2%)	31mo	$187,000	$157	36
702 Lbj Ln	1.02mi	3/3.0 (-1)	1,229 (+1%)	29mo	$225,000	$183	34
2257 Costello Ln	0.90mi	3/2.0 (-1)	1,127 (-7%)	19mo	$244,000	$217	32
8260 Sevigny Dr	1.08mi	3/2.0 (-1)	1,296 (+7%)	28mo	$189,000	$146	29
2114 E Gardenia Cir	1.18mi	3/1.0 (-1)	1,032 (-15%)	4mo	$199,900	$194	28
1832 Flamingo Dr	1.45mi	3/3.0 (-1)	1,480 (+22%)	6mo	$299,000	$202	26
7640 Peyraud Dr	0.75mi	3/2.0 (-1)	1,512 (+24%)	12mo	$180,000	$119	25
16781 Lloyd Rd	1.36mi	3/1.0 (-1)	1,478 (+22%)	15mo	$215,000	$145	18
8366 Nault Rd	1.14mi	3/2.0 (-1)	1,512 (+24%)	21mo	$185,000	$122	17
7510 Marx Dr	1.44mi	3/1.0 (-1)	968 (-20%)	18mo	$290,000	$300	16

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: $40,207
• Equity at exit: $9,677

10-year hold

• IRR: 56.1%
• Equity multiple: 6.43×
• Total profit: $98,753
• Equity at exit: $5,611

Cash invested: $18,172 (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: 41 active · 1 under contract
• Median asking: $59,900 ($57/sqft)
• Median days on market: 39 d
• This list price: 59% of active listings are priced below it
• ARV vs active asking: +57.7% 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: 3.4×

Monthly cashflow live

• Estimated rent: $1,587 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $805

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 44%

Sensitivity live

Price	-10% $850	-5% $828	+0% $805	+5% $783	+10% $760
Rent	-10% $680	-5% $743	+0% $805	+5% $868	+10% $931
Rate	-1.0pp $838	-0.5pp $822	base $805	+0.5pp $788	+1.0pp $771

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: $16,225
• Closing costs: $1,947
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	$1,699	$1.44	15d	15	0.21mi
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
2500 Gail Helen Ct North Fort Myers, FL	3.0	2.0	1296	$1,500	$1.16	72d	1	0.77mi

Listing history 2 events

1. 2026-06-01
   days on market $64,900 Active 3 DOM
2. 2026-06-01
   days on market $64,900 Active 2 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: $19,045
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − Depreciation: −$1,888
• Taxable income: $9,176
• Est. tax owed @ 24.0%: −$2,202
• After-tax cash flow: $7,461/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 None rehab

This manufactured home is in excellent condition with modern finishes and a good curb appeal. It is move-in ready and would benefit from some minor updates to increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Replace countertops with quartz or granite — Quartz or granite countertops are more durable and can increase the home's value ↑
• Both Install smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers ↑
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and comfort, increasing the home's value ↑
• Both Install a smart lock — A smart lock can improve security and convenience, increasing the home's value ↑

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