16175 John Morris Road Site 16 Unit 16-016 · Iona, FL 33908

$121,995

1 bd · 1.0 ba · 490 sqft · Manufactured · 75 Days on market

Built 2026 Excellent condition

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Why this score? — see what drove the C 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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a brand-new property located within Sun Retreats Fort Myers Beach. The home is move in ready to include appliances, upgraded counter tops and beautiful flooring. Sun Retreats Fort Myers Beach (formerly The Groves) is a highly desirable All Age Community that is conveniently located between Fort Myers Beach and the entrance to Sanibel Island. This is an All-Age Community that would like to offer you, your own little piece of paradise. The community is close to Sanibel, Bunche and Fort Myers Beaches.

Key facts

• Beautiful flooring
• Close to sanibel
• Move in ready

Tags

• MOVE IN READY
• UPGRADED COUNTER TOPS
• BEAUTIFUL FLOORING
• CONVENIENTLY LOCATED
• CLOSE TO SANIBEL
• CLOSE TO BUNCHE

Property features AI

Finance

• Financial info: List price $121,995

Exterior

• Home design: Single-unit property (plan: 16175 John Morris Rd., Site 016 16); Active listing
• Construction: Living area approximately 490
• Exterior features: Located at 16175 John Morris Road Site 16 Unit 16-016, Fort Myers, FL 33908

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: Spec home (new construction inventory)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $122k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $115k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.1% in Iona — 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 72/100 on livability (#359 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: schools D-, 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.
• Market conditions: Rents soft (-1.2%/yr); 1244 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 $843 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.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.

Recommended offer $114,675 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.09% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 7.7

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: -8.7%
• Equity multiple: 0.69×
• Total profit: $-10,584
• Equity at exit: $18,190

10-year hold

• IRR: -3.7%
• Equity multiple: 0.78×
• Total profit: $-7,352
• Equity at exit: $10,548

Cash invested: $34,159 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1244
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$640
• Tax est. 1.5%: −$152 /mo · $1,830/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $205

Break-even live

Break-even rent $1,067

Max offer price $121,995

Occupancy floor 80%

Sensitivity live

Price	-10% $289	-5% $247	+0% $205	+5% $163	+10% $121
Rent	-10% $100	-5% $153	+0% $205	+5% $257	+10% $310
Rate	-1.0pp $266	-0.5pp $236	base $205	+0.5pp $173	+1.0pp $141

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: $30,499
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-17
   days on market $121,995 Active 75 DOM
2. 2026-06-16
   days on market $121,995 Active 74 DOM
3. 2026-06-16
   days on market $121,995 Active 73 DOM
4. 2026-06-13
   days on market $121,995 Active 71 DOM
5. 2026-06-09
   days on market $121,995 Active 67 DOM
6. 2026-06-07
   days on market $121,995 Active 65 DOM
7. 2026-06-01
   days on market $121,995 Active 59 DOM
8. 2026-06-01
   days on market $121,995 Active 58 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: $15,919
• − Mortgage interest: −$6,834
• − Property taxes: −$1,830
• − Insurance: −$610
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$3,549
• Taxable income: $550
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $2,327/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

Excellent 95/100 None rehab

This move-in-ready manufactured home in Sun Retreats Fort Myers Beach is in excellent condition with no visible repairs needed. It offers a good return on investment with updates that can further increase its value.

Value-add opportunities

• Resale Painting the exterior — Enhances curb appeal
• Resale Landscaping the front yard — Improves curb appeal
• Resale Upgrading the kitchen appliances — Modernizes the space
• Both Adding a smart home system — Enhances both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Enhances curb appeal ↑
• Resale Landscaping the front yard — Improves curb appeal ↑
• Resale Upgrading the kitchen appliances — Modernizes the space ↑
• Both Adding a smart home system — Enhances both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iona, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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