10848 Bonapartes Gull · Estero, FL 33928

$59,000

1 bd · 1.0 ba · 408 sqft · Manufactured public records · 450 Days on market

Built 1986 2,221 sqft lot $239/mo HOA · 14% of rent ↓ 27% since listing

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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 +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

WELCOME TO Fabulous Florida Living in Corkscrew Woodlands! This property is ready for its new owner to make it YOUR own and priced to sell! Spacious side yard on this lot with plenty of space for outdoor hobbies!! Enjoy your new home, boasting with tropical landscaping and banana trees. Just steps from the community center, yet plenty of enjoyment in the quiet peaceful Woodlands. This 55+ Gated community is conveniently situated on 123 Acres of land in the heart of Estero. Enjoy the lakefront lap pool, hot tub, and more. Enjoy wildlife on the miles of nature trails, bridges and canals, including a butterfly garden. HOA fees of $717/quarter includes Water, Sewer, Basic Cable and Lawn mainten

Key facts

• Hot tub
• Butterfly garden
• Lakefront lap pool

Tags

• TROPICAL LANDSCAPING
• BANANA TREES
• LAKEFRONT LAP POOL
• HOT TUB
• NATURE TRAILS
• BUTTERFLY GARDEN

Property features AI

Finance

• Other: Located in Corkscrew Woodlands development; Zoning: RV; Lot is regular, approximately 0.051 acre
• HOA & community: Mandatory HOA (professional management); Quarterly HOA fee; HOA covers cable, laundry facilities, lawn/land maintenance, recreation facilities, reserves, sewer, street maintenance and water; Community amenities include clubhouse, community pool and spa, exercise room, tennis, pickleball, bocce, shuffleboard, putting green, fishing pier, library, billiards, common laundry, extra storage, sidewalks and streetlights; Gated mobile/manufactured community; Total annual recurring HOA fees: $2,868; One-time fees: $100

Exterior

• Parking: Paved driveway
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; Single-story; Rear exposure faces north
• Construction: Built in 1986; Manufactured construction
• Exterior features: Vinyl siding; Roof over; Landscaped area view; Private road

Interior

• Kitchen: Electric cooktop; Dishwasher; Microwave; Refrigerator; Freezer
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom; No master bath
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Screened lanai/porch; Partially furnished; See remarks for additional interior details
• Laundry & utility: Washer and dryer included; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 3.4% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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 (-1.4%/yr); 668 active listings in the ZIP; solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 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 + 0.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 450 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $36k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 450 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 2.83% ✓
• Cap rate: 19.51%
• Cash-on-cash: 47.20%
• DSCR: 3.10
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 2.06×
• Total profit: $17,535
• Equity at exit: $8,797

10-year hold

• IRR: 32.0%
• Equity multiple: 3.32×
• Total profit: $38,336
• Equity at exit: $5,101

Cash invested: $16,520 (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 33928

• Rents YoY: -1.4%
• Active inventory: 668
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$95 /mo · $1,138/yr
• Insurance: −$25
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$239
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $498

Break-even live

Break-even rent $1,038

Max offer price $59,000

Occupancy floor 65%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $239 · $2,868/yr
• Likely covers: watersewercablelandscapingpoolsecurity

Listing history 16 events

1. 2026-06-17
   days on market $59,000 Active 450 DOM
2. 2026-06-16
   days on market $59,000 Active 449 DOM
3. 2026-06-16
   days on market $59,000 Active 448 DOM
4. 2026-06-13
   days on market $59,000 Active 446 DOM
5. 2026-06-09
   pricedays on market $59,000 Active 442 DOM
6. 2026-06-07
   days on market $69,000 Active 440 DOM
7. 2026-06-02
   days on market $69,000 Active 435 DOM
8. 2026-06-01
   days on market $69,000 Active 434 DOM
9. 2026-06-01
   days on market $69,000 Active 433 DOM
10. 2026-04-16
    price $69,000
11. 2026-01-25
    price $75,000
12. 2025-10-02
    status Active
13. 2025-08-07
    price $80,000
14. 2025-05-12
    price $85,000
15. 2025-04-12
    price $90,000
16. 2025-03-17
    listed $95,000 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: $1,138 · $95/mo
• Projected year-2 tax: $1,138 · $95/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 AH · 13% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 27 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: $20,015
• − Mortgage interest: −$3,305
• − Property taxes: −$1,138
• − Insurance: −$2,120
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$2,868
• − Depreciation: −$1,716
• Taxable income: $5,666
• Est. tax owed @ 24.0%: −$1,360
• After-tax cash flow: $4,614/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 — Estero

• Score: 79/100
• State rank: #149
• US rank: #2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estero, FL
• County: Lee County · 788,662 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 606.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• 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

-27.4% since first listed

7 events — show timeline

• 2026-04-16 Price Changed $69,000 BEARMLS
• 2026-01-25 Price Changed $75,000 BEARMLS
• 2025-10-02 Relisted — BEARMLS
• 2025-08-07 Price Changed $80,000 BEARMLS
• 2025-05-12 Price Changed $85,000 BEARMLS
• 2025-04-12 Price Changed $90,000 BEARMLS
• 2025-03-17 Listed $95,000 BEARMLS

Property tax history

+6.2%/yr

Latest (2025): $1,138 · -4.3% YoY. Source: county tax records.