4500 NW 36th Ave · Cape Coral, FL 33993

$376,350

4 bd · 2.0 ba · 1,755 sqft · Land · 9 Days on market

Built 2026 0.25 ac lot

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Oversized corner lot available in Unit 97 for your new home! Located across from Dewberry Canal, with SW rear exposure, and just a minute or two from the new TRANQUILITY LAKES RV RESORT, a 55+ luxury RV resort featuring waterfront RV sites, fitness center, multiple swimming pools, pickleball and sports courts, and clubhouse. Wouldn't it be simply delightful to have a place nearby for your family and friends to stay? This reasonably priced lot is less than other nearby properties for sale! Act fast!

Key facts

• New construction
• Low-e windows
• Upgraded cabinetry

Tags

• NEW CONSTRUCTION
• TILE FLOORING
• GRANITE COUNTERTOPS
• UPGRADED CABINETRY
• LOW-E WINDOWS
• PRIVATE LANAI

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee listed

Exterior

• Parking: Attached garage; 2 garage spaces; Attached carport; 2 carport spaces; Driveway parking; Guest parking; Paved parking; On-street parking; 4 covered parking spaces
• Security: Smoke detector(s)
• Utilities: Well water; Private sewer (septic tank); Cable available
• Home design: Single-story; Entry level 1; Faces East; Under construction with building permit
• Construction: Block, concrete and stucco construction; Shingle roof; Built on foundation (information not specified)
• Exterior features: Sprinkler/irrigation (automatic and manual); Shutters (manual); Rectangular lot; Paved road access; Public maintained road; West exposure; Has view

Interior

• Kitchen: Cooktop; Electric cooktop; Range; Dishwasher; Microwave; Disposal; Water purifier; Reverse osmosis system; Pantry; Kitchen island
• Bedrooms: Master bedroom on main level; Additional bedrooms on main level (three bedrooms)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Dual sinks in bathroom; Separate shower
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Electric cooling
• Interior features: Double-hung windows; French doors; Unfurnished; Closet cabinetry; Dual sinks; French/atrium door; Kitchen island; Living/dining room; Main level primary; Pantry; Separate shower (shower only); Cable TV
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $376k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $376k).
• Cap rate 8.9% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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.
• Zoned schools: Gulf Elementary School (math 70% / reading 65%, grade B+, #435 of 2,144 statewide, top 21%, 1,231 students, 38% FRL); Challenger Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,124 students, 50% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL) — zoned schools average 42% FRL vs 57% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents falling (-5.5%/yr); 2671 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,847/mo this rent would consume 51% of the median local household income ($91k/yr) (locally 286% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $44k; list at $376k implies a 765% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $376,350

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 8.2

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: -12.7%
• Equity multiple: 0.56×
• Total profit: $-46,676
• Equity at exit: $56,115

10-year hold

• IRR: -9.1%
• Equity multiple: 0.52×
• Total profit: $-51,049
• Equity at exit: $32,540

Cash invested: $105,378 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2671
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,847 high
• Mortgage (P&I): −$1,974
• Tax from tax record: −$82 /mo · $985/yr
• Insurance: −$157
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $400

Break-even live

Break-even rent $3,341

Max offer price $376,350

Occupancy floor 85%

Sensitivity live

Price	-10% $613	-5% $507	+0% $400	+5% $294	+10% $187
Rent	-10% $96	-5% $248	+0% $400	+5% $552	+10% $704
Rate	-1.0pp $590	-0.5pp $496	base $400	+0.5pp $303	+1.0pp $204

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: $94,088
• Closing costs: $11,290
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4157 NW 39th Ave Cape Coral, FL	3.0	2.0	1515	$2,500	$1.65	5d	1	0.53mi
4157 NW 39th Ave Cape Coral, FL	3.0	2.0	1515	$2,500	$1.65	25d	1	0.53mi
3929 NW 42nd Ln Cape Coral, FL	3.0	2.0	1333	$1,995	$1.50	25d	1	0.55mi
3911 NW 40th Ln Cape Coral, FL	3.0	2.0	1363	$3,500	$2.57	25d	1	0.80mi
3617 NW 38th Ter Cape Coral, FL	4.0	3.0	1903	$2,200	$1.16	25d	1	1.07mi
17947 Courtside Landings Cir Punta Gorda, FL	3.0	2.0	1338	$5,500	$4.11	25d	1	1.16mi
1010 Islamorada Blvd Punta Gorda, FL	3.0	2.0	1592	$4,700	$2.95	25d	1	1.20mi
3812 NW 38th St Cape Coral, FL	3.0	2.0	1920	$2,600	$1.35	25d	1	1.21mi
3250 Southshore Dr Unit 54B Punta Gorda, FL	3.0	2.0	2069	$5,750	$2.78	25d	1	1.40mi
3471 Sunset Key Cir #102 Punta Gorda, FL	3.0	2.0	1991	$5,750	$2.89	25d	1	1.43mi
3280 Southshore Dr Unit 87A Punta Gorda, FL	3.0	2.0	2069	$4,000	$1.93	25d	1	1.46mi
2091 King Tarpon Dr Punta Gorda, FL	3.0	2.0	1640	$5,200	$3.17	25d	1	1.46mi
3304 Sunset Key Cir Unit D Punta Gorda, FL	3.0	2.0	2255	$5,750	$2.55	25d	1	1.46mi
3270 Southshore Dr Unit 72B Punta Gorda, FL	3.0	2.0	2069	$5,750	$2.78	25d	1	1.47mi
4115 NW 36th Ln Cape Coral, FL	4.0	2.0	1787	$2,000	$1.12	25d	1	1.47mi
3001 King Tarpon Dr Punta Gorda, FL	3.0	2.0	1734	$5,500	$3.17	25d	1	1.48mi
3313 Sunset Key Cir Punta Gorda, FL	3.0	2.0–3.0	2089	$6,750	$3.23	25d	4	1.49mi

Listing history 7 events

1. 2026-06-22
   days on market $376,350 Active 9 DOM
2. 2026-06-18
   days on market $376,350 Active 6 DOM
3. 2026-06-17
   days on market $376,350 Active 5 DOM
4. 2026-06-16
   days on market $376,350 Active 4 DOM
5. 2026-06-15
   days on market $376,350 Active 3 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $376,350 Active 1 DOM

ⓘ 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: $985 · $82/mo
• Projected year-2 tax: $3,124 · $260/mo
• Expected delta: +$2,138/yr (+$178/mo · 217.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,170
• − Mortgage interest: −$21,081
• − Property taxes: −$985
• − Insurance: −$7,000
• − Repairs & maintenance: −$3,694
• − Management: −$3,694
• − Depreciation: −$10,948
• Taxable loss: −$1,233
• Est. tax savings @ 24.0%: +$296
• After-tax cash flow: $5,101/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+318.2% since first listed

13 events — show timeline

• 2026-06-12 Listed $376,350 FORTMLS
• 2024-03-08 Sold (Public Records) $43,500 Public Records
• 2024-03-07 Sold (MLS) $37,500 FORTMLS
• 2024-01-09 Pending — FORTMLS
• 2023-12-27 Price Changed $39,500 FORTMLS
• 2022-12-01 Listed $45,000 FORTMLS
• 2015-04-29 Sold (Public Records) $110 Public Records
• 2007-11-05 Sold (Public Records) $16,240,000 Public Records
• 2005-12-09 Sold (MLS) $87,000 FORTMLS
• 2005-10-26 Sold (MLS) $87,000 FORTMLS
• 2005-10-18 Sold (Public Records) $87,000 Public Records
• 2005-09-20 Price Changed $90,000 FORTMLS
• 2005-09-20 Price Changed $90,000 FORTMLS

Property tax history

+12.4%/yr

Latest (2025): $985 · +33.5% YoY. Source: county tax records.