24797 Lakemont Cove Ln #202 · Bonita Springs, FL 34134

$307,500

2 bd · 2.0 ba · 1,658 sqft · Condo public records · 342 Days on market

Built 1993 $1041/mo HOA · 32% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• 1% rule +5.5/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged, AI generated or rendered. Best priced condo in Lakemont Cove. This beautiful three-bedroom, two-bath carriage home in the highly desirable Pelican Landing is truly ready and waiting for your personal touch. Located on the second floor, this light and airy residence features brand-new carpet, fresh interior paint, and a spacious open-concept layout designed for comfortable, everyday living. The home is thoughtfully equipped with in-home laundry, generous storage, electric storm shutters, and a private attached garage. Major system updates provide added peace of mind, including a brand-new exterior A/C unit installed on October 2024, along with

Key facts

• In-home laundry
• Community pool
• Private garage

Tags

• PRIVATE GARAGE
• IN-HOME LAUNDRY
• ELECTRIC STORM SHUTTERS
• COMMUNITY POOL
• PRIVATE BEACH

Property features AI

Finance

• Other: Part of Pelican Landing development (Lakemont Cove sub-condo); Unit located in a building with 4 units and 2 floors; 124 units in the complex
• Financial info: Total annual recurring fees listed; Total one-time fees listed
• HOA & community: Mandatory HOA; Quarterly HOA fee; Master HOA fee paid annually; Professional management; HOA covers insurance, lawn/land maintenance, legal/accounting, management, exterior pest control, recreation facilities, reserves, security, street lights, and street maintenance; Community amenities include: beach access and club, bike/jog path, bocce, clubhouse, community pool, community room, exercise room, golf course (non-equity), hobby room, pickleball, private beach pavilion, sidewalk, streetlight, tennis courts, underground utilities

Exterior

• Parking: Paved driveway; Attached 1-car garage
• Security: Unmonitored alarm; Garage secured; Gated community with guard at gate
• Utilities: Central water; Central sewer; Electric service (central)
• Home design: Residential low-rise (1–3 stories); Carriage/coach end-unit; Rear exposure facing west
• Construction: Concrete block construction; Stucco exterior finish; Tile roof; Built in 1993
• Exterior features: Patio; Pool/club view; Central irrigation

Interior

• Kitchen: Pantry; Electric cooktop; Self-cleaning oven; Microwave; Dishwasher; Refrigerator/Freezer
• Bedrooms: 3 bedrooms (split bedroom floor plan)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with separate tub and shower
• Heating & cooling: Central electric heat; Central electric air conditioning; Cable available
• Interior features: Cable prewire; Foyer; High-speed internet available; Pantry; Walk-in closet; Window coverings; Balcony; 3 ceiling fans; Unfurnished
• Laundry & utility: Washer; Washer/dryer hookup; Auto garage door; Smoke detector

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $308k.

Deal economics

• At list price, monthly cash flow is $-449 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (25.8% below list).
• Meets the 1% rule at list price ($3k rent vs $308k).
• Recommended offer: $228k (25.8% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: cost of living C-, health & safety D, amenities 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.
• Zoned schools: Spring Creek Elementary School (math 64% / reading 48%, grade C+, #832 of 2,144 statewide, top 40%, 594 students, 54% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); Bonita Springs High School (math 34% / reading 49%, grade F, #284 of 667 statewide, top 43%, 1,543 students, 35% FRL).
• Market conditions: Rents rising (+2.9%/yr); 699 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $9k 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 342 days — a 12% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $92k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $124k; list at $308k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,187 (25.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 342 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 4.54%
• Cash-on-cash: -6.26%
• DSCR: 0.72
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.85% rent growth · sell at horizon

5-year hold

• IRR: -27.0%
• Equity multiple: 0.09×
• Total profit: $-78,321
• Equity at exit: $45,849

10-year hold

• IRR: -24.6%
• Equity multiple: -0.22×
• Total profit: $-104,620
• Equity at exit: $26,587

Cash invested: $86,100 (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 34134

• Rents YoY: 2.9%
• Active inventory: 699
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,236 medium
• Mortgage (P&I): −$1,613
• Tax from tax record: −$224 /mo · $2,686/yr
• Insurance: −$128
• HOA: −$1,041
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $-449

Break-even live

Break-even rent $3,804

Max offer price $228,187

Occupancy floor —

Sensitivity live

Price	-10% $-275	-5% $-362	+0% $-449	+5% $-536	+10% $-623
Rent	-10% $-705	-5% $-577	+0% $-449	+5% $-321	+10% $-193
Rate	-1.0pp $-294	-0.5pp $-371	base $-449	+0.5pp $-529	+1.0pp $-610

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: $76,875
• Closing costs: $9,225
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24821 Lakemont Cove Ln #202 Bonita Springs, FL	3.0	2.0	1658	$5,000	$3.02	22d	1	0.04mi
24821 Lakemont Cove Ln #101 Bonita Springs, FL	2.0	2.0	1203	$6,500	$5.40	25d	1	0.04mi
24821 Lakemont Cove Ln #201 Bonita Springs, FL	3.0	2.0	1633	$7,000	$4.29	25d	1	0.04mi
24827 Lakemont Cove Ln #101 Bonita Springs, FL	2.0	2.0	1552	$6,750	$4.35	25d	1	0.05mi
3451 Ballybridge Cir #103 Bonita Springs, FL	3.0	2.0	1703	$6,500	$3.82	25d	1	0.30mi
3401 Tralee Ct #202 Bonita Springs, FL	3.0	2.0	2184	$7,500	$3.43	25d	1	0.41mi
4200 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,250	$3.63	25d	1	0.53mi
4201 Sawgrass Point Dr #102 Bonita Springs, FL	2.0	2.0	1319	$5,000	$3.79	25d	1	0.57mi
4161 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,500	$3.81	22d	1	0.61mi
4161 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,500	$3.81	25d	1	0.61mi
24360 Sandpiper Isle Way #101 Bonita Springs, FL	2.0	2.0	1666	$6,500	$3.90	25d	1	0.61mi
25248 Pelican Creek Cir #102 Bonita Springs, FL	3.0	2.0	1458	$7,000	$4.80	25d	1	0.65mi
24361 Sandpiper Isle Way #401 Bonita Springs, FL	2.0	2.0	1807	$8,000	$4.43	25d	1	0.66mi
24420 Reserve Ct #202 Bonita Springs, FL	3.0	2.0	2244	$8,000	$3.57	25d	1	0.67mi
25240 Pelican Creek Cir #202 Bonita Springs, FL	2.0	2.0	1846	$6,500	$3.52	17d	1	0.69mi
25240 Pelican Creek Cir #202 Bonita Springs, FL	2.0	2.0	1846	$6,500	$3.52	25d	1	0.69mi
25232 Pelican Creek Cir #202 Bonita Springs, FL	3.0	2.0	1646	$6,500	$3.95	25d	1	0.69mi
24300 Sandpiper Isle Way #201 Bonita Springs, FL	3.0	2.5	1887	$7,500	$3.97	25d	1	0.73mi
3421 Marbella Ct Bonita Springs, FL	3.0	3.5	2073	$10,000	$4.82	25d	1	0.81mi
3578 Heron Cove Ct Bonita Springs, FL	3.0	3.0	2185	$9,000	$4.12	25d	1	0.84mi
8861 Colonnades Ct W #216 Bonita Springs, FL	3.0	2.0	1207	$2,200	$1.82	25d	1	0.87mi
3460 Pointe Creek Ct #102 Bonita Springs, FL	3.0	2.0	1622	$6,800	$4.19	25d	1	0.90mi
25130 Sandpiper Greens Ct #104 Bonita Springs, FL	2.0	2.0	1392	$6,500	$4.67	25d	1	0.91mi
3461 Pointe Creek Ct #306 Bonita Springs, FL	3.0	2.0	1650	$3,150	$1.91	25d	1	0.93mi
3442 Pointe Creek Ct #201 Bonita Springs, FL	3.0	2.0	1673	$7,000	$4.18	4d	1	0.95mi
23611 Alamanda Dr #202 Estero, FL	3.0	2.0	1440	$2,900	$2.01	25d	1	0.95mi
3412 Pointe Creek Ct #102 Bonita Springs, FL	3.0	2.0	1622	$6,250	$3.85	25d	1	0.96mi
23680 Walden Center Dr #107 Estero, FL	2.0	2.0	1052	$1,900	$1.81	4d	1	0.97mi
23710 Walden Center Dr #308 Estero, FL	3.0	2.0	1355	$3,000	$2.21	25d	1	0.98mi
3431 Pointe Creek Ct Bonita Springs, FL	2.0–3.0	2.0	1414	$2,365	$1.67	21d	2	0.99mi
25151 Bay Cedar Dr Bonita Springs, FL	2.0	2.0	1738	$11,000	$6.33	3d	1	1.03mi
4700 Leilani Ln Bonita Springs, FL	2.0	2.0	1380	$5,000	$3.62	25d	1	1.03mi
4709 Kon Tiki Ln Bonita Springs, FL	2.0	2.0	1475	$1,500	$1.02	25d	1	1.03mi
23640 Walden Center Dr #106 Estero, FL	2.0	2.0	1052	$1,850	$1.76	3d	1	1.04mi
23500 Walden Center Dr Estero, FL	1.0–2.0	1.0–2.0	803	$2,800	$3.48	17d	3	1.05mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	4d	1	1.09mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	25d	1	1.09mi
23550 Alamanda Dr #102 Estero, FL	3.0	2.5	1616	$5,200	$3.22	25d	1	1.11mi
23550 Alamanda Dr #203 Estero, FL	2.0	2.0	1152	$5,000	$4.34	25d	1	1.11mi
8510 Violeta St #201 Estero, FL	2.0	2.0	1152	$2,400	$2.08	25d	1	1.12mi

HOA detail condo

• Monthly dues: $1,041 · $12,492/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-13
   status $307,500 Pending 342 DOM
2. 2026-05-04
   status Pending With Contingencies
3. 2026-04-16
   price $307,500
4. 2026-04-04
   price $310,000
5. 2026-03-20
   price $325,000
6. 2026-03-03
   price $340,000
7. 2026-02-05
   price $375,000
8. 2025-11-03
   status Active
9. 2025-10-31
   historical
10. 2025-05-27
    historical
11. 2025-05-24
    listed $399,000 Active
12. 2025-05-21
    price $399,000
13. 2025-04-04
    price $450,000
14. 2025-02-24
    price $475,000
15. 2025-01-24
    price $499,900
16. 2024-11-15
    listed $525,000 Active
17. 1993-04-05
    soldstatus $124,200

ⓘ 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: $2,686 · $224/mo
• Projected year-2 tax: $2,686 · $224/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $38,834
• − Mortgage interest: −$17,225
• − Property taxes: −$2,686
• − Insurance: −$1,538
• − Repairs & maintenance: −$3,107
• − Management: −$3,107
• − HOA: −$12,492
• − Depreciation: −$8,945
• Taxable loss: −$10,265
• Est. tax savings @ 24.0%: +$2,464
• After-tax cash flow: $-2,924/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 16,475
• Household income: $130,719
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 554.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Common ancestry: Slovak 5% Romanian 4% Serbian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 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: ▼ -236.48%
• Current HPI: 237.4416
• Rent YoY: ▲ 2.85%
• 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

+147.6% since first listed

16 events — show timeline

• 2026-05-04 Pending — NAPLESMLS
• 2026-04-16 Price Changed $307,500 NAPLESMLS
• 2026-04-04 Price Changed $310,000 NAPLESMLS
• 2026-03-20 Price Changed $325,000 NAPLESMLS
• 2026-03-03 Price Changed $340,000 NAPLESMLS
• 2026-02-05 Price Changed $375,000 NAPLESMLS
• 2025-11-03 Relisted — NAPLESMLS
• 2025-10-31 Listing Removed — NAPLESMLS
• 2025-05-27 Listing Removed — NAPLESMLS
• 2025-05-24 Listed $399,000 NAPLESMLS
• 2025-05-21 Price Changed $399,000 NAPLESMLS
• 2025-04-04 Price Changed $450,000 NAPLESMLS
• 2025-02-24 Price Changed $475,000 NAPLESMLS
• 2025-01-24 Price Changed $499,900 NAPLESMLS
• 2024-11-15 Listed $525,000 NAPLESMLS
• 1993-04-05 Sold (Public Records) $124,200 Public Records

Property tax history

+0.8%/yr

Latest (2025): $2,686 · +3.3% YoY. Source: county tax records.