For SaleRisky Deal487 days on market

16624 Coral Dr

16624 Coral Dr, Fort Myers, FL 33908, Fort Myers, FL 33908

$139,900

Listing Price

16624 Coral Dr, Fort Myers, FL 33908

Loc: Fort Myers, FL

Days Listed

487

Tax Assessed

$45k

Type

manufactured

More Than Just a Property

We believe a home extends beyond its walls. That's why we help you explore the pulse of the community—from top-rated schools to essential emergency services. Your safety, well-being, and connection to the neighborhood matter to us.

4.9

Safety Score

A+

Schools

Nearby Schools

Educational options and performance ratings in the area.

Heights Elementary School

PK-5

2.9 mi away

Lexington Middle School

6-8

3.1 mi away

Cypress Lake High School

9-12

4.9 mi away

Property Overview

No property narrative or remarks were supplied in the source listing records. Underwriting and financial metrics are calculated directly from public record data and MLS attributes.

Features & Amenities

Manufactured Home20260 spaces488 Days$103

Haven AI Verdict

Recommendation

Risky

Confidence Score: 2/10

Exercise caution due to potential market volatility.

Cap Rate

5.79%

Total ROI

84.7%

Cash Flow

$-51/mo

DSCR

0.93

Was this AI Verdict accurate?

Data provided by Haven AI. Disclaimer

Haven AI

Property yields an estimated $-51/mo net cash flow with a 5.8% cap rate. Underwriting indicates risky fundamentals for long-term hold.

Strengths

• Favorable cap rate profile (5.8%)
• Strong rental demand in Fort Myers

Considerations

• Verify historical operating expenses and local tax assessment
• Confirm current lease terms and tenant estoppel certificates

10-Year Price Projection

Price & Tax History

Price History

Date	Event	Price	Price/sqft
2025-05-15	Listed for sale	$139,900	$103

Tax History

Year	Property Tax	Tax Assessment
2021	$654.75	$45,000
2020	$666.71	$45,000
2019	$674.39	$45,000
2018	$674.39	$45,000
2017	$689.82	$45,000
2016	$706.06	$45,000
2015	$720.96	$55,860
2014	$845.69	$55,860
2013	$810.3	$40,000
2012	$655.95	$40,000
2011	$812.11	$48,450

Getzels Group

Haven Team

CalRE #01884947

Call / Text

818.535.5337

Property Specs

Beds

Baths

Sq Ft

1,354

Address-Level Value-Add Underwriting

ARV, Rehab & Maximum Allowable Offer (MAO)

Model contractor scopes, estimated after-repair value (ARV) projections, and determine your purchase price ceiling to protect target margins.

Estimated After-Repair Value (ARV) [estimated]Modeled value-add projection (+18% baseline) for 3b/2ba in Fort Myers

+18% vs. list

Rehab Budget & Scope (1,354 sq ft)$60,930

Institutional Acquisition Rule75% Rule

Maximum Allowable Offer (MAO)

$62,882

Calculated as (75% × $165,082) − $60,930

Asking Price is $77,018 (55.1%) Above MAO

To achieve your target margin of 25%, submit an initial counteroffer closer to $62,882 based on $60,930 in required updates.

Current Asking Price:$139,900

Estimated ARV:$165,082

Estimated Renovation:$60,930

All-In Capital Basis (MAO + Rehab):$123,812

Projected Equity Margin:+$41,270

Institutional Underwriting Ledger

Investment Numbers & Operating Model

Standardized cash flow underwriting modeled with state tax schedules, regional insurance hazard risk, and disciplined operating reserves.

Data Provenance:[Observed] List Price: $139,900[Estimated] Rent: $1,119/mo[Estimated] Tax Rate: 0.98% (FL)[Estimated] Hazard Ins: $150/mo[Defaulted] Reserves: 23% OpEx Baseline

Haven ScoreRisky

2/ 10

Multi-factor yield grade

Cap Rate (Unleveraged)

5.79%

NOI: $8,099/yr

Cash-on-Cash Yield

-1.9%

On $32,177 invested

DSCR Ratio

0.93x

Negative debt coverage