671 E Gulf Dr Unit 2C2 · Sanibel, FL 33957

$675,555

2 bd · 2.0 ba · 875 sqft · Condo public records · 17 Days on market

Built 1974 $1467/mo HOA · 14% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Relax and enjoy fabulous gulf front views from your lanai. Delightful two bedroom/two bath unit, decorated in whimsical beach decor. Bright and light colors make this totally furnished unit ready to move into or rent. Unit remodeled in 2011 with master suite reconfigured to feature an ensuite bath. Convenient onsite laundry located across from your unit along with quick access to the elevator and stairs. Amazing opportunity to own a remodeled unit at popular Sandalfoot. Convenient onsite rental office with a low rental fee of 15% makes this a tremendous opportunity for any buyer. Low monthly association fees of $485 cover landscape/lawn, sewer, water, cable/TV, irrigation, manager, parking, pool, tennis shuffleboard, exterior pest control, exterior maintenance and repair, trash. Owners have chosen to pay the building insurance separately and currently assessed $2217 annually.

Key facts

• $1,467 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed conditionally (owners only; contact for details)
• HOA & community: Homeowners association with monthly fee; Association amenities include beach rights, beach access, pool, tennis and pickleball courts, laundry, and management; Association fee includes management, insurance, legal/accounting, grounds maintenance, pest control, sewer, trash and water; Condo hotel community with elevator and proximity to hotel/motel

Exterior

• Parking: Assigned parking (one space)
• Security: Smoke detectors
• Utilities: Public water (assessment paid); Public sewer (assessment paid); Cable available; High-speed internet available
• Home design: Condo unit in a 3-story building; Entry level: 2; Resale property; Faces east; Has view
• Construction: Insulated concrete forms construction; Stucco exterior; Built-up and flat roof
• Exterior features: Lanai/porch (screened); Security/high impact doors; Community tennis court(s); Community pool; Beachfront on the Gulf; West exposure; Zero lot line

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Microwave; Refrigerator with ice maker; Icemaker
• Bedrooms: Screened porch (listed as a room type)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Furnished; Living/dining room; Split bedroom floor plan; High-speed internet; Separate shower; Shower only; Single hung, sliding and impact glass windows
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $676k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $676k).
• Recommended offer: $665k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.8% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: housing D+, amenities F, 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.
• Market conditions: 526 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $5k of loan paydown is wiped out by about $20k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $189k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($665k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

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; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $665,421 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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.
8. 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.
9. 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: 1.55% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.56%
• DSCR: 1.74
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.2%
• Equity multiple: 1.16×
• Total profit: $30,692
• Equity at exit: $100,727

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $210,105
• Equity at exit: $58,410

Cash invested: $189,155 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $10,500 medium
• Mortgage (P&I): −$3,543
• Tax from tax record: −$393 /mo · $4,716/yr
• Insurance: −$281
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,467
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $2,184

Break-even live

Break-even rent $7,735

Max offer price $675,555

Occupancy floor 74%

Sensitivity live

Price	-10% $2,567	-5% $2,375	+0% $2,184	+5% $1,993	+10% $1,802
Rent	-10% $1,355	-5% $1,770	+0% $2,184	+5% $2,599	+10% $3,014
Rate	-1.0pp $2,524	-0.5pp $2,356	base $2,184	+0.5pp $2,009	+1.0pp $1,831

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: $168,889
• Closing costs: $20,267
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	24d	1	0.26mi

HOA detail condo

• Monthly dues: $1,467 · $17,604/yr
• Likely covers: watersewertrashcableexterior maint.insurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-04-27
   status Pending
2. 2026-04-10
   listed $675,555 Active
3. 2026-04-07
   historical
4. 2026-01-06
   price $675,555
5. 2025-05-08
   price $725,555
6. 2025-04-08
   listed $747,555 Active
7. 2021-04-06
   soldstatus $640,000
8. 2021-04-01
   soldstatus $640,000 Closed 888-char remark

   Show marketing remark (888 chars)

   Relax and enjoy fabulous gulf front views from your lanai. Delightful two bedroom/two bath unit, decorated in whimsical beach decor. Bright and light colors make this totally furnished unit ready to move into or rent. Unit remodeled in 2011 with master suite reconfigured to feature an ensuite bath. Convenient onsite laundry located across from your unit along with quick access to the elevator and stairs. Amazing opportunity to own a remodeled unit at popular Sandalfoot. Convenient onsite rental office with a low rental fee of 15% makes this a tremendous opportunity for any buyer. Low monthly association fees of $485 cover landscape/lawn, sewer, water, cable/TV, irrigation, manager, parking, pool, tennis shuffleboard, exterior pest control, exterior maintenance and repair, trash. Owners have chosen to pay the building insurance separately and currently assessed $2217 annually.

9. 2021-02-15
   status Pending 888-char remark

   Show marketing remark (888 chars)

   Relax and enjoy fabulous gulf front views from your lanai. Delightful two bedroom/two bath unit, decorated in whimsical beach decor. Bright and light colors make this totally furnished unit ready to move into or rent. Unit remodeled in 2011 with master suite reconfigured to feature an ensuite bath. Convenient onsite laundry located across from your unit along with quick access to the elevator and stairs. Amazing opportunity to own a remodeled unit at popular Sandalfoot. Convenient onsite rental office with a low rental fee of 15% makes this a tremendous opportunity for any buyer. Low monthly association fees of $485 cover landscape/lawn, sewer, water, cable/TV, irrigation, manager, parking, pool, tennis shuffleboard, exterior pest control, exterior maintenance and repair, trash. Owners have chosen to pay the building insurance separately and currently assessed $2217 annually.

10. 2020-11-09
    listed $657,000 Active 888-char remark

    Show marketing remark (888 chars)

    Relax and enjoy fabulous gulf front views from your lanai. Delightful two bedroom/two bath unit, decorated in whimsical beach decor. Bright and light colors make this totally furnished unit ready to move into or rent. Unit remodeled in 2011 with master suite reconfigured to feature an ensuite bath. Convenient onsite laundry located across from your unit along with quick access to the elevator and stairs. Amazing opportunity to own a remodeled unit at popular Sandalfoot. Convenient onsite rental office with a low rental fee of 15% makes this a tremendous opportunity for any buyer. Low monthly association fees of $485 cover landscape/lawn, sewer, water, cable/TV, irrigation, manager, parking, pool, tennis shuffleboard, exterior pest control, exterior maintenance and repair, trash. Owners have chosen to pay the building insurance separately and currently assessed $2217 annually.

11. 2004-05-13
    soldstatus $520,000
12. 1997-04-21
    soldstatus $310,000
13. 1995-02-28
    soldstatus $275,000

ⓘ 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: $4,716 · $393/mo
• Projected year-2 tax: $5,607 · $467/mo
• Expected delta: +$891/yr (+$74/mo · 18.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 27 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: $126,000
• − Mortgage interest: −$37,842
• − Property taxes: −$4,716
• − Insurance: −$8,496
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$17,604
• − Depreciation: −$19,653
• Taxable income: $17,529
• Est. tax owed @ 24.0%: −$4,207
• After-tax cash flow: $22,004/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 — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• City population: 6,402
• Population (ZIP): 6,402

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% French/Haitian/Cajun 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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• 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

+145.7% since first listed

13 events — show timeline

• 2026-04-27 Pending — FORTMLS
• 2026-04-10 Listed $675,555 FORTMLS
• 2026-04-07 Listing Removed — FORTMLS
• 2026-01-06 Price Changed $675,555 FORTMLS
• 2025-05-08 Price Changed $725,555 FORTMLS
• 2025-04-08 Listed $747,555 FORTMLS
• 2021-04-06 Sold (Public Records) $640,000 Public Records
• 2021-04-01 Sold (MLS) $640,000 FORTMLS
• 2021-02-15 Pending — FORTMLS
• 2020-11-09 Listed $657,000 FORTMLS
• 2004-05-13 Sold (Public Records) $520,000 Public Records
• 1997-04-21 Sold (Public Records) $310,000 Public Records
• 1995-02-28 Sold (Public Records) $275,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $4,716 · +323.9% YoY. Source: county tax records.