72 Kiowa Dr Unit KI72 · Fort Myers Beach, FL 33931

$204,995

2 bd · 2.0 ba · 1,500 sqft · Manufactured · 215 Days on market

Built 2025

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This brand new Champion home is now available. This large 2 bedroom 2 bath home boasts approx. 1,400 sq. ft. and has a beautiful open floor plan. KI72 has a large primary bedroom with ensuite bath with a walk in closet, while the kitchen offers a large island kitchen which opens into a spacious living room area perfect for entertaining. Call today or stop by to see this beautiful new home!

Key facts

• Built 2025
• Listed 214 days

Property features AI

Finance

• Financial info: List price $204,995

Exterior

• Home design: Spec new construction (plan: 72 Kiowa Drive); Address: 72 Kiowa Dr Unit KI72, Fort Myers Beach, FL 33931

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area approximately 1500

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 0.3% in Fort Myers Beach — 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 69/100 on livability (#489 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools A-; Watch: amenities F, commute F, cost of living 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: 876 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $2,981/mo this rent would consume 45% of the median local household income ($79k/yr) (locally 145% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.

Recommended offer $180,395 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.61%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.7%
• Equity multiple: 1.46×
• Total profit: $26,582
• Equity at exit: $30,565

10-year hold

• IRR: 20.7%
• Equity multiple: 2.75×
• Total profit: $100,275
• Equity at exit: $17,724

Cash invested: $57,399 (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 33931

• Home prices YoY: -18.8%
• Active inventory: 876
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,981 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $938

Break-even live

Break-even rent $1,793

Max offer price $204,995

Occupancy floor 64%

Sensitivity live

Price	-10% $1,080	-5% $1,009	+0% $938	+5% $867	+10% $797
Rent	-10% $703	-5% $820	+0% $938	+5% $1,056	+10% $1,174
Rate	-1.0pp $1,041	-0.5pp $990	base $938	+0.5pp $885	+1.0pp $831

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: $51,249
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11110 Caravel Cir #201 Fort Myers, FL	2.0	2.0	1050	$3,500	$3.33	24d	1	0.25mi
158 Nanaimo Trl Fort Myers Beach, FL	2.0	2.0	1200	$6,570	$5.47	24d	1	0.28mi
11140 Caravel Cir #109 Fort Myers, FL	2.0	2.0	1050	$4,200	$4.00	24d	1	0.29mi
17220 Whitewater Ct Fort Myers Beach, FL	2.0	1.5	1103	$1,800	$1.63	24d	1	0.34mi
16500 Kelly Cove Dr #2880 Fort Myers, FL	2.0	2.0	1283	$4,800	$3.74	24d	1	0.35mi
12150 Kelly Sands Way Fort Myers, FL	2.0	2.0	1087	$4,700	$4.32	24d	2	0.40mi
12150 Kelly Sands Way Fort Myers, FL	2.0	2.0	1087	$3,325	$3.06	3d	3	0.40mi
16470 Kelly Cove Dr #2850 Fort Myers, FL	2.0	2.0	1216	$5,000	$4.11	24d	1	0.41mi
16470 Kelly Cove Dr Fort Myers, FL	2.0	2.0	1214	$3,550	$2.92	3d	2	0.41mi
12250 Kelly Greens Blvd #57 Fort Myers, FL	2.0	2.0	1336	$1,999	$1.50	24d	1	0.41mi
11540 Caravel Cir #3012 Fort Myers, FL	2.0	2.0	1050	$1,250	$1.19	21d	1	0.46mi
12171 Kelly Sands Way #1577 Fort Myers, FL	2.0	2.0	1160	$4,500	$3.88	24d	1	0.50mi
11451 Char Ann Dr Fort Myers, FL	2.0	1.0	1300	$1,950	$1.50	2d	1	0.55mi
11861 Caraway Ln #116 Fort Myers, FL	2.0	2.0	1056	$1,995	$1.89	20d	1	0.56mi
11390 Bayside Blvd Fort Myers Beach, FL	3.0	2.0	2087	$2,500	$1.20	24d	1	0.64mi
12621 Kelly Sands Way #305 Fort Myers, FL	2.0	2.0	1106	$5,000	$4.52	24d	1	0.66mi
12540 Kelly Greens Blvd #331 Fort Myers, FL	2.0	2.0	1440	$2,100	$1.46	24d	1	0.69mi
12641 Kelly Sands Way #225 Fort Myers, FL	2.0	2.0	1069	$5,000	$4.68	24d	1	0.70mi
12396 Kelly Sands Way Fort Myers, FL	2.0	2.0	1511	$2,800	$1.85	24d	1	0.70mi
16301 Kelly Woods Dr #205 Fort Myers, FL	2.0	2.0	1336	$5,000	$3.74	24d	1	0.81mi
16252 Kelly Woods Dr Fort Myers, FL	2.0	2.0	1515	$6,000	$3.96	24d	1	0.89mi
11041 Gulf Reflections Dr #305 Fort Myers, FL	2.0	2.0	1500	$1,800	$1.20	24d	1	0.96mi
16120 Dublin Cir Unit A Fort Myers, FL	2.0	2.0	1517	$1,550	$1.02	24d	1	0.97mi
11021 Gulf Reflections Dr #303 Fort Myers, FL	2.0	2.0	1500	$4,200	$2.80	3d	1	0.99mi
11021 Gulf Reflections Dr Fort Myers, FL	2.0–3.0	2.0	1674	$2,600	$1.55	24d	2	0.99mi
16126 Kelly Woods Dr Fort Myers, FL	3.0	2.0	1564	$5,800	$3.71	3d	1	1.08mi
16001 Amberwood Lake Ct #1 Fort Myers, FL	2.0	2.5	1060	$2,100	$1.98	24d	1	1.09mi
18014 San Carlos Blvd #44 Fort Myers Beach, FL	2.0	2.5	1101	$1,995	$1.81	12d	1	1.09mi
16685 Lake Circle Dr Fort Myers, FL	2.0	2.0	1228	$2,000	$1.63	24d	2	1.10mi
15999 Mandolin Bay Dr #202 Fort Myers, FL	2.0	2.0	1152	$1,775	$1.54	24d	1	1.13mi
11701 Olivetti Ln Unit 1545836P Fort Myers, FL	3.0	2.0	1388	$4,214	$3.04	14d	1	1.13mi
11701 Olivetti Ln Unit 210 Fort Myers, FL	2.0	2.0	1305	$4,500	$3.45	24d	1	1.13mi
11601 Navarro Way #2102 Fort Myers, FL	2.0	2.0	1378	$4,500	$3.27	24d	1	1.14mi
11596 Palm Dr Fort Myers, FL	3.0	2.0	1394	$2,450	$1.76	24d	1	1.15mi
15989 Mandolin Bay Dr Fort Myers, FL	2.0	2.0	1152	$1,695	$1.47	24d	1	1.17mi
11711 Pasetto Ln #102 Fort Myers, FL	2.0	2.0	1055	$2,200	$2.09	24d	1	1.18mi
16625 Lake Circle Dr #523 Fort Myers, FL	2.0	2.0	1154	$2,100	$1.82	24d	1	1.20mi
16645 Lake Circle Dr #732 Fort Myers, FL	2.0	2.0	1154	$4,000	$3.47	24d	1	1.21mi
11701 Pasetto Ln Unit 1049715P Fort Myers, FL	3.0	2.0	1496	$2,960	$1.98	21d	1	1.21mi
16635 Lake Circle Dr Fort Myers, FL	2.0	2.0	1277	$2,150	$1.68	16d	2	1.23mi

Listing history 8 events

1. 2026-06-17
   days on market $204,995 Active 215 DOM
2. 2026-06-16
   days on market $204,995 Active 214 DOM
3. 2026-06-16
   days on market $204,995 Active 213 DOM
4. 2026-06-13
   days on market $204,995 Active 211 DOM
5. 2026-06-09
   days on market $204,995 Active 207 DOM
6. 2026-06-07
   days on market $204,995 Active 205 DOM
7. 2026-06-01
   days on market $204,995 Active 199 DOM
8. 2026-06-01
   days on market $204,995 Active 198 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: $35,770
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,862
• − Management: −$2,862
• − Depreciation: −$5,963
• Taxable income: $8,501
• Est. tax owed @ 24.0%: −$2,040
• After-tax cash flow: $9,218/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 Beach

• Score: 69/100
• State rank: #489
• US rank: #8995

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 8,350
• Household income: $79,018
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 145.0

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 1% 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: ▼ -194.12%
• Current HPI: 837.37
• Rent YoY: —
• 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