20 Fletcher Dr #24North Fort MyersFL33903
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.75% yield at 20 Fletcher Dr #24, North Fort Myers, FL, 33903 in North Fort Myers is solid, but the $566/mo payment compresses net cash flow to $188/mo at $125,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $34,784 by year five, and $1,160/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.81) without U.S. income documentation. Total projected return: $60,074.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 6.0% |
| Monthly Cash Flow | $188 | $300 |
City averages based on North Fort Myers market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,023 |
| Total Monthly Debt Service | $785 |
| DSCR Ratio | 1.30x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Manufactured
Built in 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33903, North Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,516 (100%) |
| Owner Occupied HU | 9,855 (59.7%) |
| Renter Occupied HU | 2,839 (17.2%) |
| Vacant Housing Units | 3,822 (23.1%) |
| Median Home Value | $292,268 |
| Average Home Value | $343,390 |
Housing Distribution
Address Breakdown
Residential
13,783
Single Family
12,014
Multi-Family
1,769
Businesses
787
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Manufactured
Built in 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33903, North Fort Myers, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,516 (100%) |
| Owner Occupied HU | 9,855 (59.7%) |
| Renter Occupied HU | 2,839 (17.2%) |
| Vacant Housing Units | 3,822 (23.1%) |
| Median Home Value | $292,268 |
| Average Home Value | $343,390 |
Housing Distribution
Address Breakdown
Residential
13,783
Single Family
12,014
Multi-Family
1,769
Businesses
787
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jocelyn Allen • MHV II TRS LLC
Mls Name: My State MLS
Mls ID: #11415246