3318 Thomas St · Fort Myers, FL 33916

$158,900

2 bd · 1.0 ba · 624 sqft · SingleFamily public records · 35 Days on market

Built 1961 4,922 sqft lot

---

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 +15.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• 1% rule +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Photos from prior to tenant occupancy * * Nearly new from top to bottom, Florida style home offers new roof, all new electrical, all new plumbing, new kitchen, new bathroom, new AC units, new flooring. .. .Starting to get the idea?! This two bedroom home just needs a new owner. Tenant in place at $1400 a month with a lease expiring 2/28/2023

Key facts

• Front porch
• Centrally located
• Backyard

Tags

• BACKYARD
• FRONT PORCH
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Driveway; Paved parking
• Security: Smoke detectors
• Utilities: Cable available; High-speed internet available; Public water; Public sewer
• Home design: Single-story; Faces north; Resale property
• Construction: Vinyl siding; Wood frame construction; Rolled/hot mop roof; Built on foundation (wood frame listed)
• Exterior features: Open patio and porch; Patio; Porch; Rectangular lot; South exposure; Publicly maintained road

Interior

• Kitchen: Freezer; Refrigerator; Self-cleaning oven
• Bedrooms: Bedroom on main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Single-hung windows; Unfurnished; Tub with shower; Bedroom on main level; Family room
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $59 ($703/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (10.5% below list).
• Recommended offer: $142k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.3% 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents falling (-4.3%/yr); 271 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 32% of the median local income ($53k/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 $5k 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 35 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 10y ago; this cycle's ask is 10493% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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 $142,204 (10.5% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $84,864
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3131 Market St	0.27mi	2/1.0	696 (+12%)	3mo	$95,000	$136	66

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: -17.1%
• Equity multiple: 0.41×
• Total profit: $-26,186
• Equity at exit: $23,693

10-year hold

• IRR: -15.7%
• Equity multiple: 0.23×
• Total profit: $-34,102
• Equity at exit: $13,739

Cash invested: $44,492 (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: 271
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,422 high
• Mortgage (P&I): −$833
• Tax from tax record: −$165 /mo · $1,984/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $59

Break-even live

Break-even rent $1,348

Max offer price $158,900

Occupancy floor 91%

Sensitivity live

Price	-10% $148	-5% $104	+0% $59	+5% $14	+10% $-31
Rent	-10% $-54	-5% $2	+0% $59	+5% $115	+10% $171
Rate	-1.0pp $139	-0.5pp $99	base $59	+0.5pp $17	+1.0pp $-25

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: $39,725
• Closing costs: $4,767
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$1,678	$1.70	4d	34	0.14mi
3608 Sammy Watkins Ave #2 Fort Myers, FL	2.0	1.0	650	$1,200	$1.85	20d	1	0.35mi
3608 Sammy Watkins Ave Fort Myers, FL	2.0	1.0	650	$1,200	$1.85	25d	1	0.35mi
3042 Douglas Ave Fort Myers, FL	2.0	1.0	640	$1,150	$1.80	4d	1	0.39mi
3042 Douglas Ave Fort Myers, FL	2.0	1.0	640	$1,150	$1.80	15d	1	0.39mi
2170 Davis Ct Fort Myers, FL	1.0	1.0	481	$995	$2.07	25d	1	0.47mi
2930 Thomas St Fort Myers, FL	2.0	1.0	550	$1,600	$2.91	17d	1	0.53mi
3041 2nd St Apt 2 Fort Myers, FL	2.0	1.0	621	$995	$1.60	25d	1	0.83mi
3033 2nd St Unit 1 Fort Myers, FL	2.0	1.0	582	$1,350	$2.32	25d	1	0.84mi
2657 Lafayette St Fort Myers, FL	2.0	1.0	696	$1,650	$2.37	25d	1	0.87mi
2651 Lafayette St Unit 2651 Fort Myers, FL	2.0	1.0	650	$1,300	$2.00	25d	1	0.87mi
221 Maria St Unit 225 Fort Myers, FL	2.0	1.0	720	$1,095	$1.52	25d	1	1.14mi
227 Maria St Fort Myers, FL	2.0	1.0	720	$1,095	$1.52	25d	1	1.15mi
2505 Royal Palm Ave Fort Myers, FL	2.0	1.0	750	$1,475	$1.97	25d	1	1.17mi
2315 Central Ave Fort Myers, FL	2.0	1.0–1.5	635	$1,650	$2.60	25d	1	1.18mi
2575 Second St Fort Myers, FL	2.0	1.0	750	$1,488	$1.98	3d	3	1.22mi
2610 Providence St Unit 10 Fort Myers, FL	2.0	1.0	750	$1,495	$1.99	23d	1	1.24mi
2452 Stella St Unit 204 Fort Myers, FL	2.0	1.0	675	$1,250	$1.85	25d	1	1.27mi
2452 Stella St Unit 105 Fort Myers, FL	2.0	1.0	676	$1,000	$1.48	13d	1	1.27mi
2825 Palm Beach Blvd Fort Myers, FL	1.0–3.0	1.5–2.5	990	$1,900	$1.92	12d	7	1.28mi
2590 First St #203 Fort Myers, FL	1.0	1.0	473	$1,550	$3.28	15d	1	1.30mi
2590 First St #203 Fort Myers, FL	1.0	1.0	473	$1,550	$3.28	25d	1	1.30mi
3920 Mina Cir Fort Myers, FL	1.0–3.0	1.0–2.0	992	$2,034	$2.05	5d	39	1.31mi
4220 Coasterra DR Fort Myers, FL	1.0–3.0	1.0–2.5	1072	$2,080	$1.94	5d	10	1.31mi
2771 Royal Palm Ave Fort Myers, FL	1.0	1.0	700	$1,125	$1.61	25d	1	1.32mi
2554 First St Fort Myers, FL	1.0	1.0	750	$1,250	$1.67	17d	2	1.35mi
2544 First St #104 Fort Myers, FL	1.0	1.0	583	$1,350	$2.32	25d	1	1.35mi
2330 Union St Fort Myers, FL	3.0	1.0–2.0	951	$3,182	$3.34	5d	27	1.44mi
2480 First St Fort Myers, FL	2.0	1.0–2.0	984	$2,499	$2.54	4d	26	1.45mi
3175 Royalston Ave #105 Fort Myers, FL	1.0	1.0	476	$1,059	$2.22	25d	1	1.45mi
3155 Royalston Ave #201 Fort Myers, FL	1.0	1.0	476	$1,059	$2.22	25d	1	1.45mi
2950 Royal Palm Ave Fort Myers, FL	2.0	1.0	732	$1,522	$2.08	25d	1	1.46mi

Listing history 46 events

1. 2026-06-22
   days on market $158,900 Active 35 DOM
2. 2026-06-17
   days on market $158,900 Active 31 DOM
3. 2026-06-16
   days on market $158,900 Active 30 DOM
4. 2026-06-15
   days on market $158,900 Active 29 DOM
5. 2026-06-13
   days on market $158,900 Active 27 DOM
6. 2026-06-10
   days on market $158,900 Active 24 DOM
7. 2026-06-09
   days on market $158,900 Active 23 DOM
8. 2026-06-08
   days on market $158,900 Active 22 DOM
9. 2026-06-07
   days on market $158,900 Active 21 DOM
10. 2026-06-03
    days on market $158,900 Active 17 DOM
11. 2026-06-02
    days on market $158,900 Active 16 DOM
12. 2026-06-01
    days on market $158,900 Active 15 DOM
13. 2026-05-31
    days on market $158,900 Active 14 DOM
14. 2026-05-16
    listed $1,500
15. 2026-05-07
    listed $158,900 Active
16. 2026-04-20
    historical $1,500
17. 2026-01-06
    price $1,500
18. 2025-11-20
    listed $1,600
19. 2024-12-16
    historical $1,400
20. 2024-12-09
    listed $1,400
21. 2022-08-09
    price $1,600
22. 2022-08-02
    soldstatus $150,000
23. 2022-08-01
    soldstatus $150,000 Closed 351-char remark

    Show marketing remark (351 chars)

    * * Photos from prior to tenant occupancy * * Nearly new from top to bottom, Florida style home offers new roof, all new electrical, all new plumbing, new kitchen, new bathroom, new AC units, new flooring. .. .Starting to get the idea?! This two bedroom home just needs a new owner. Tenant in place at $1400 a month with a lease expiring 2/28/2023

24. 2022-06-23
    status Pending 351-char remark

    Show marketing remark (351 chars)

    * * Photos from prior to tenant occupancy * * Nearly new from top to bottom, Florida style home offers new roof, all new electrical, all new plumbing, new kitchen, new bathroom, new AC units, new flooring. .. .Starting to get the idea?! This two bedroom home just needs a new owner. Tenant in place at $1400 a month with a lease expiring 2/28/2023

25. 2022-06-21
    listed $150,000 Active 351-char remark

    Show marketing remark (351 chars)

    * * Photos from prior to tenant occupancy * * Nearly new from top to bottom, Florida style home offers new roof, all new electrical, all new plumbing, new kitchen, new bathroom, new AC units, new flooring. .. .Starting to get the idea?! This two bedroom home just needs a new owner. Tenant in place at $1400 a month with a lease expiring 2/28/2023

26. 2021-02-08
    historical
27. 2021-02-05
    status Active
28. 2021-01-25
    status Pending
29. 2020-11-23
    price $89,500
30. 2020-09-16
    price $89,900
31. 2020-09-02
    status Active
32. 2020-09-01
    status Pending
33. 2020-08-31
    listed $93,900 Active
34. 2019-01-29
    historical
35. 2019-01-28
    listed $39,900
36. 2017-08-24
    historical
37. 2017-08-17
    listed $39,900 Active
38. 2016-07-31
    historical
39. 2016-07-12
    price $43,900
40. 2016-05-06
    listed $44,900 Active
41. 2015-03-02
    price $15,000
42. 2012-06-15
    soldstatus $16,500
43. 2005-10-21
    soldstatus $65,000
44. 2001-08-06
    soldstatus $45,000
45. 2001-08-03
    soldstatus $45,000
46. 1981-01-01
    soldstatus $5,800

ⓘ 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: $1,984 · $165/mo
• Projected year-2 tax: $1,984 · $165/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $17,064
• − Mortgage interest: −$8,901
• − Property taxes: −$1,984
• − Insurance: −$794
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$4,623
• Taxable loss: −$1,968
• Est. tax savings @ 24.0%: +$472
• After-tax cash flow: $1,175/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

-74.1% since first listed

33 events — show timeline

• 2026-05-16 Listed for Rent $1,500 TURBOTENANT
• 2026-05-07 Listed $158,900 FORTMLS
• 2026-04-20 Rental Removed $1,500 TURBOTENANT
• 2026-01-06 Price Changed $1,500 TURBOTENANT
• 2025-11-20 Listed for Rent $1,600 TURBOTENANT
• 2024-12-16 Rental Removed $1,400 TURBOTENANT
• 2024-12-09 Listed for Rent $1,400 TURBOTENANT
• 2022-08-09 Price Changed $1,600 RENT.
• 2022-08-02 Sold (Public Records) $150,000 Public Records
• 2022-08-01 Sold (MLS) $150,000 FORTMLS
• 2022-06-23 Pending — FORTMLS
• 2022-06-21 Listed $150,000 FORTMLS
• 2021-02-08 Listing Removed — FORTMLS
• 2021-02-05 Relisted — FORTMLS
• 2021-01-25 Pending — FORTMLS
• 2020-11-23 Price Changed $89,500 FORTMLS
• 2020-09-16 Price Changed $89,900 FORTMLS
• 2020-09-02 Relisted — FORTMLS
• 2020-09-01 Pending — FORTMLS
• 2020-08-31 Listed $93,900 FORTMLS
• 2019-01-29 Listing Removed — FORTMLS
• 2019-01-28 Listed $39,900 FORTMLS
• 2017-08-24 Listing Removed — FORTMLS
• 2017-08-17 Listed $39,900 FORTMLS
• 2016-07-31 Listing Removed — FORTMLS
• 2016-07-12 Price Changed $43,900 FORTMLS
• 2016-05-06 Listed $44,900 FORTMLS
• 2015-03-02 Price Changed $15,000 FORTMLS
• 2012-06-15 Sold (MLS) $16,500 FORTMLS
• 2005-10-21 Sold (Public Records) $65,000 Public Records
• 2001-08-06 Sold (Public Records) $45,000 Public Records
• 2001-08-03 Sold (MLS) $45,000 FORTMLS
• 1981-01-01 Sold (Public Records) $5,800 Public Records

Property tax history

+11.9%/yr

Latest (2025): $1,984 · +8.8% YoY. Source: county tax records.