26186 Princess Ln · Bonita Springs, FL 34135

$136,000

2 bd · 1.0 ba · 816 sqft · Manufactured public records · 254 Days on market

Built 1970 4,094 sqft lot Est $131k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.9/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home in the heart of a serene 55+ community. This charming manufactured home has 2 spacious bedrooms, perfect for hosting guests or creating a cozy retreat for yourself. Imagine waking up to the soothing sounds of a creek flowing in your backyard, providing a peaceful backdrop to your daily routine. The kitchen is a chef's delight with butcher block counters that add a touch of rustic elegance to the space. Step outside onto the large screened lanai and enjoy your morning coffee while taking in the beauty of the community. The best part? There are no mandatory HOA fees, giving you the freedom to live life on your terms. And the cherry on top - you own the land, ensurin

Key facts

• Creek flowing
• Own the land
• Optional membership

Tags

• CREEK FLOWING
• BUTCHER BLOCK COUNTERS
• LARGE SCREENED LANAI
• NO MANDATORY HOA FEES
• OWN THE LAND
• OPTIONAL MEMBERSHIP

Property features AI

Finance

• Financial info: Pets allowed with conditions; contact for details
• HOA & community: Association amenities include clubhouse, pool, billiards, library, basketball court, bocce court, pickleball, shuffleboard; Association covers recreation facilities, road maintenance, street lights, and trash; Non-gated senior community

Exterior

• Security: Smoke detector(s)
• Utilities: Cable available; Public water (assessment paid); Public sewer (assessment paid)
• Home design: Manufactured home; Single-story; Entry level: 1; Faces west; Resale property
• Construction: Metal roof; Aluminum siding; Manufactured construction
• Exterior features: Patio; Lanai; Porch; Screened porch; Community pool; Creek waterfront; East exposure; Rectangular lot

Interior

• Kitchen: Freezer; Range; Refrigerator
• Bedrooms: Includes guest quarters
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Built-in features; Living/dining room; Tub/shower; High-speed internet; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $136k.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $120k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• 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 soft (-0.6%/yr); 835 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).
• This rent runs 32% of the median local income ($91k/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 $940 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 9614% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $24k; list at $136k implies a 467% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.80% ✓
• Cap rate: 15.25%
• Cash-on-cash: 31.99%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $131,376
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26191 Kings Rd	0.07mi	2/1.0	862 (+6%)	22mo	$138,500	$161	69
26271 Princess Ln	0.18mi	2/2.0	897 (+10%)	23mo	$142,000	$158	52

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: 6.1%
• Equity multiple: 1.23×
• Total profit: $8,587
• Equity at exit: $20,278

10-year hold

• IRR: 11.8%
• Equity multiple: 1.77×
• Total profit: $29,258
• Equity at exit: $11,759

Cash invested: $38,080 (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 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,442 high
• Mortgage (P&I): −$713
• Tax from tax record: −$144 /mo · $1,725/yr
• Insurance: −$57
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $589

Break-even live

Break-even rent $1,696

Max offer price $136,000

Occupancy floor 71%

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10101 Sandy Hollow Ln #102 Bonita Springs, FL	2.0	2.5	808	$1,645	$2.04	23d	1	0.44mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	23d	1	0.52mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	3d	1	0.52mi
25806 Cockleshell Dr #314 Bonita Springs, FL	2.0	2.0	975	$1,800	$1.85	23d	1	0.55mi
9200 Highland Woods Blvd Bonita Springs, FL	2.0	2.0	1083	$4,050	$3.74	16d	3	0.56mi
26239 Bonita Fairways Cir Bonita Springs, FL	2.0	2.0	1088	$2,500	$2.30	23d	1	0.61mi
9450 Highland Woods Blvd #6203 Bonita Springs, FL	2.0	2.0	1100	$6,000	$5.45	14d	1	0.61mi
26589-610 Rosewood Pointe Dr Unit A 301 Bonita Springs, FL	2.0	2.0	986	$3,500	$3.55	23d	1	0.62mi
26600 Rosewood Pointe Dr Unit B-101 Bonita Springs, FL	2.0	2.0	983	$2,200	$2.24	3d	1	0.65mi
26600 Rosewood Pointe Dr Unit 102 Bonita Springs, FL	1.0	2.0	833	$2,900	$3.48	3d	1	0.65mi
10325 Tarrah Ln Unit 1073517P Bonita Springs, FL	2.0	1.0	818	$4,608	$5.63	2d	1	0.75mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1119	$4,600	$4.11	23d	1	0.75mi
27020 Williams Rd #5 Bonita Springs, FL	1.0	1.0	595	$1,700	$2.86	23d	1	0.95mi
10710 Rosemary Dr #712 Bonita Springs, FL	1.0	1.0	984	$1,750	$1.78	23d	1	1.08mi
8940 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,675	$2.64	23d	2	1.13mi
8940 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,575	$2.54	10d	3	1.13mi
8930 Colonnades Ct E #625 Bonita Springs, FL	2.0	2.0	1013	$3,000	$2.96	10d	1	1.15mi
8754 River Homes Ln #307 Bonita Springs, FL	1.0	1.0	645	$1,775	$2.75	23d	1	1.15mi
8930 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,325	$2.30	16d	2	1.15mi
8920 Colonnades Ct E #514 Bonita Springs, FL	1.0	1.0	713	$1,500	$2.10	23d	1	1.18mi
8736 River Homes Ln #7302 Bonita Springs, FL	2.0	2.0	1087	$1,950	$1.79	23d	1	1.19mi
8870 Colonnades Ct W #337 Bonita Springs, FL	2.0	2.0	997	$3,100	$3.11	3d	1	1.19mi
8735 River Homes Ln #6104 Bonita Springs, FL	2.0	2.0	1051	$2,000	$1.90	23d	1	1.19mi
8735 River Homes Ln #6302 Bonita Springs, FL	2.0	2.0	1087	$1,875	$1.72	23d	1	1.19mi
10041 Maddox Ln #203 Bonita Springs, FL	3.0	2.0	1083	$5,000	$4.62	23d	1	1.25mi
8687 River Homes Ln #4202 Bonita Springs, FL	1.0	1.0	602	$2,500	$4.15	23d	1	1.27mi
8687 River Homes Ln #4207 Bonita Springs, FL	1.0	1.0	602	$1,400	$2.33	23d	1	1.27mi
8617 River Homes Ln #3203 Bonita Springs, FL	1.0	1.0	699	$1,500	$2.15	3d	1	1.35mi
8617 River Homes Ln #3307 Bonita Springs, FL	1.0	1.0	645	$1,650	$2.56	23d	1	1.35mi
8659 River Homes Ln #1307 Bonita Springs, FL	2.0	2.0	1087	$1,850	$1.70	19d	1	1.35mi
8659 River Homes Ln #1108 Bonita Springs, FL	2.0	2.0	1087	$4,500	$4.14	23d	1	1.35mi
27501 Playa del Rey Ln #503 Bonita Springs, FL	2.0	1.0	1120	$1,875	$1.67	23d	1	1.36mi
27250 Shriver Ave Unit 1073504P Bonita Springs, FL	2.0	1.0	661	$4,275	$6.46	3d	2	1.37mi
3611 Wild Pines Dr #202 Bonita Springs, FL	2.0	2.0	995	$5,400	$5.43	23d	1	1.39mi
9204 Pennsylvania Ave Bonita Springs, FL	2.0	1.0	900	$1,895	$2.11	23d	1	1.40mi
3621 Wild Pines Dr #207 Bonita Springs, FL	2.0	2.0	1064	$6,000	$5.64	23d	1	1.41mi
27249 Pullen Ave #5 Bonita Springs, FL	2.0	2.0	956	$1,950	$2.04	23d	1	1.44mi
27249 Pullen Ave #4 Bonita Springs, FL	2.0	2.5	956	$3,200	$3.35	23d	1	1.44mi
10725 Wilson St #11 Bonita Springs, FL	2.0	12.0	1008	$1,800	$1.79	23d	1	1.48mi
10897 Goodwin St #899 Bonita Springs, FL	2.0	1.0	770	$1,950	$2.53	23d	1	1.48mi

Listing history 22 events

1. 2026-06-17
   days on market $136,000 Active 254 DOM
2. 2026-06-16
   days on market $136,000 Active 253 DOM
3. 2026-06-16
   days on market $136,000 Active 252 DOM
4. 2026-06-13
   days on market $136,000 Active 250 DOM
5. 2026-06-09
   days on market $136,000 Active 246 DOM
6. 2026-06-07
   pricedays on market $136,000 Active 244 DOM
7. 2026-06-02
   days on market $137,000 Active 239 DOM
8. 2026-06-01
   days on market $137,000 Active 238 DOM
9. 2026-06-01
   days on market $137,000 Active 237 DOM
10. 2026-05-21
    listed $1,400
11. 2026-05-20
    historical $1,400
12. 2026-05-20
    listed $1,400
13. 2026-05-20
    historical $1,400
14. 2026-05-19
    listed $1,400
15. 2026-04-29
    price $137,000
16. 2026-03-16
    price $138,000
17. 2026-02-09
    price $138,500
18. 2026-01-05
    price $138,900
19. 2025-11-10
    price $148,900
20. 2025-10-06
    listed $149,000 Active
21. 1999-05-17
    soldstatus $24,000
22. 1992-07-27
    soldstatus $36,900

ⓘ 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: $1,725 · $144/mo
• Projected year-2 tax: $1,725 · $144/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 8/10 Severe FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,300
• − Mortgage interest: −$7,618
• − Property taxes: −$1,725
• − Insurance: −$5,798
• − Repairs & maintenance: −$2,344
• − Management: −$2,344
• − Depreciation: −$3,956
• Taxable income: $5,514
• Est. tax owed @ 24.0%: −$1,323
• After-tax cash flow: $5,742/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 48,252
• Household income: $91,380
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 976.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% French/Haitian/Cajun 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: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• 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

-96.2% since first listed

13 events — show timeline

• 2026-05-21 Listed for Rent $1,400 APPFOLIO
• 2026-05-20 Rental Removed $1,400 FORTMLS
• 2026-05-20 Listed for Rent $1,400 FORTMLS
• 2026-05-20 Rental Removed $1,400 FGCMLS
• 2026-05-19 Listed for Rent $1,400 FGCMLS
• 2026-04-29 Price Changed $137,000 FORTMLS
• 2026-03-16 Price Changed $138,000 FORTMLS
• 2026-02-09 Price Changed $138,500 FORTMLS
• 2026-01-05 Price Changed $138,900 FORTMLS
• 2025-11-10 Price Changed $148,900 FORTMLS
• 2025-10-06 Listed $149,000 FORTMLS
• 1999-05-17 Sold (Public Records) $24,000 Public Records
• 1992-07-27 Sold (Public Records) $36,900 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,725 · +1.6% YoY. Source: county tax records.