Short-Term Rental Property with Three
For Sale
$215,000
12970 SPENCER Street, Fort Myers, FL 33908
Residential Income, FORT MYERS, FL
Property Size960 SF
Lot Size0.09 Acres
Price / SF$223.96
Days on Market92
Property Features for 12970 SPENCER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MH-1
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2
Subdivision
HARVEY HEIGHTS
Directions
McGregor Blv to Iona Rd-Rt to John Morris-left to Spencer-left
Standard status
Active
APN
36-45-23-05-0000C.0190
Size
960 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HARVEY HEIGHTS U 1 UNREC BLK C DB 324 PG 255 LOT 19
Tax Annual Amount
2064
Legal Description
HARVEY HEIGHTS U 1 UNREC BLK C DB 324 PG 255 LOT 19
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Floors in Building
1
Roof type
Shingle
Listing Agency:
APOGEE REALTY SERVICES
(813) 484-6886
Listed By:
Mary Boor · License #603447
(813) 689-2119
Added: Jun 9
Changed: Sep 4
Last Checked: Sep 8 at 7:06PM
MLS# TB8517139
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Welcome to this well-maintained three-bedroom, two-bath mobile home in Fort Myers, located in a quiet community with no HOA fees. The property sits on land you own and is classified as real property under MH-1 zoning. With an open-concept layout, a functional kitchen, and comfortable bedrooms designed for easy living, the home has been successfully operated as a full-time Airbnb.
The home is 960 square feet and was built in 1998. It features central air conditioning with electric heating. Utilities include public water and public sewer, and the roof is a shingle roof.
The property is being sold unfurnished; furnishings may be available through separate negotiation. Heating and cooling are in place, and the home is ready for continued short-term rental use or owner occupancy near the coast.
The home is 960 square feet and was built in 1998. It features central air conditioning with electric heating. Utilities include public water and public sewer, and the roof is a shingle roof.
The property is being sold unfurnished; furnishings may be available through separate negotiation. Heating and cooling are in place, and the home is ready for continued short-term rental use or owner occupancy near the coast.
Key Highlights
- Successfully operated as a full‑time Airbnb short‑term rental
- 960 square feet under MH‑1 zoning on a 0.09‑acre lot
- Three bedrooms and two bathrooms in an open‑concept layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,776
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,520
$235.5K
Cap Rate 7%
$168,229
$168.2K
Cap Rate 9%
$130,844
$130.8K
Market Conditions
NOI Build-Up for 960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.3K $23.28/SF
− Vacancy
−$939 −$0.98/SF
EGI
$21.4K $22.30/SF
− OpEx
−$9.6K −$10.04/SF
NOI
$11.8K $12.27/SF
Area
Lee County, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$235,520
Cap Rate 7%
$168,229
Cap Rate 9%
$130,844
Alternative Uses
Best Use
Apartment 5plus
$168.2K
$147.2K – $196.3K
NOI $11,776 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.2K
$264.4K – $352.5K
NOI $21,151 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Three-bedroom, two-bath mobile home on MH-1 land with public water and public sewer, no HOA fees, and central air.
Where is this short term rental property located?
The property is located at 12970 SPENCER Street Fort Myers, FL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Successfully operated as a full‑time Airbnb short‑term rental; 960 square feet under MH‑1 zoning on a 0.09‑acre lot; Three bedrooms and two bathrooms in an open‑concept layout
