1422 NW 12th St · Cape Coral, FL 33993

$294,999

4 bd · 2.0 ba · 1,499 sqft · Land · 102 Days on market

Built 2026 10,454 sqft lot

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Why this score? — see what drove the D- 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 +12.9/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME TO YOUR NEW DR HORTON HOME!! This is our appealing one-story, open concept, 1499 sqft FREEPORT II Floorplan featuring 4 bedrooms, 2 bathrooms, 2-car garage, all concrete block construction. This home is on a beautiful lot located in Cape Coral. This home boasts Designer cabinets and quartz countertops in both the kitchen and baths. Experience the timeless beauty and durability of RevWood laminated wood floors featured throughout the home, modern flat stock trim and baseboards, all stainless kitchen appliances including refrigerator, paver driveways and lanai, irrigation system, and garage door openers. Be wowed by the INCLUDED "home-is-connected" package plus three years of Alarm.com service. This is why owning a brand-new home from America's largest builder is going to be your best option. These homes move quickly so don't miss out. Finishings may vary - images are representational only of the model home based in that community.

Key facts

• Quartz countertops
• Open concept
• Designer cabinets

Tags

• OPEN CONCEPT
• DESIGNER CABINETS
• QUARTZ COUNTERTOPS
• REVWOOD LAMINATED WOOD FLOORS
• STAINLESS KITCHEN APPLIANCES
• PAVER DRIVEWAYS

Property features AI

Finance

• Other: Lot is regular-shaped; lot dimensions approx. 80 x 125 (total area 0.24 acres); Lot units 9 and 10; city-maintained road; source of lot dimensions: survey; View: see remarks
• HOA & community: Community type: see remarks; Irrigation water maintained

Exterior

• Parking: Attached 2-car garage; Paved driveway
• Utilities: Well water; Septic sewer; Cable available
• Home design: Single-family residential; 1 story (Ranch); Rear exposure faces south; Located in Cape Coral development
• Construction: Concrete block construction; Built in 2026; Shingle roof; Stone exterior
• Exterior features: Automatic sprinkler system; Shutters; Stone exterior finish; Single hung windows; Shingle roof

Interior

• Kitchen: Cooktop - Electric; Dishwasher; Microwave; Refrigerator/Freezer; Pantry
• Bedrooms: 4 bedrooms; Master bedroom on ground level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Cable prewire; Pantry; Walk-in closet; Great room floor plan; Laundry in residence; Auto garage door
• Laundry & utility: Laundry in residence

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $295k.

Deal economics

• At list price, monthly cash flow is $-24 ($-284/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (25.4% below list).
• Recommended offer: $220k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).

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 102 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,137 (25.4% 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 102 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.75% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• GRM: 11.2

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: -19.9%
• Equity multiple: 0.32×
• Total profit: $-55,899
• Equity at exit: $43,985

10-year hold

• IRR: -19.7%
• Equity multiple: 0.08×
• Total profit: $-76,105
• Equity at exit: $25,506

Cash invested: $82,600 (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: 11.2×

Monthly cashflow live

• Estimated rent: $2,201 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-24

Break-even live

Break-even rent $2,231

Max offer price $290,813

Occupancy floor 96%

Sensitivity live

Price	-10% $143	-5% $60	+0% $-24	+5% $-107	+10% $-191
Rent	-10% $-198	-5% $-111	+0% $-24	+5% $63	+10% $150
Rate	-1.0pp $125	-0.5pp $51	base $-24	+0.5pp $-100	+1.0pp $-178

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1426 NW 12th St Cape Coral, FL	3.0	2.0	1455	$1,699	$1.17	23d	1	0.02mi
1426 NW 12th St Cape Coral, FL	3.0	2.0	1455	$1,699	$1.17	12d	1	0.02mi
1426 NW 12th St Cape Coral, FL	3.0	2.0	1455	$1,699	$1.17	15d	1	0.02mi
1012 NW 15th Ave Cape Coral, FL	3.0	2.0	1805	$1,985	$1.10	25d	1	0.17mi
1212 Chiquita Blvd N Cape Coral, FL	3.0	2.0	1672	$2,100	$1.26	25d	1	0.18mi
916 NW 15th Ave Cape Coral, FL	3.0	2.0	1458	$1,890	$1.30	5d	1	0.26mi
1120 NW 11th Pl Cape Coral, FL	3.0	2.0	1528	$1,816	$1.19	15d	1	0.40mi
1137 NW 19th Ave Cape Coral, FL	4.0	2.0	1771	$2,215	$1.25	15d	1	0.49mi
1827 NW 10th St Cape Coral, FL	3.0	2.0	1864	$2,050	$1.10	25d	1	0.49mi
1731 NW 14th St Cape Coral, FL	4.0	2.0	1337	$1,866	$1.40	5d	1	0.50mi
1101 NW 19th Pl Cape Coral, FL	4.0	2.0	1711	$1,900	$1.11	5d	1	0.56mi
1150 NW 19th Pl Cape Coral, FL	4.0	2.0	1833	$1,895	$1.03	3d	1	0.58mi
1129 NW 20th Ave Cape Coral, FL	4.0	2.0	1828	$2,180	$1.19	23d	1	0.60mi
1129 NW 20th Ave Cape Coral, FL	4.0	2.0	1828	$2,200	$1.20	25d	1	0.60mi
1818 Diplomat Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,025	$1.13	25d	1	0.71mi
1822 Diplomat Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,145	$1.20	25d	1	0.72mi
1926 NW 15th St Cape Coral, FL	3.0	2.0	1461	$2,100	$1.44	12d	1	0.75mi
2014 NW 9th St Cape Coral, FL	4.0	2.0	1828	$2,300	$1.26	25d	1	0.77mi
2022 NW 9th St Cape Coral, FL	3.0	2.0	1303	$1,611	$1.24	15d	1	0.80mi
1108 NW 21st Pl Cape Coral, FL	3.0	2.0	1666	$2,060	$1.24	25d	1	0.83mi
910 NW 8th Ter Cape Coral, FL	3.0	2.0	1619	$2,100	$1.30	17d	1	0.84mi
532 NW 18th Ave Cape Coral, FL	3.0	2.0	1765	$2,000	$1.13	25d	1	0.85mi
1909 NW 6th Ter Cape Coral, FL	3.0	2.0	1828	$1,895	$1.04	5d	1	0.85mi
1909 NW 6th Ter Cape Coral, FL	4.0	2.0	1828	$1,895	$1.04	4d	1	0.85mi
1243 NW 22nd Ave Cape Coral, FL	3.0	2.0	1274	$2,195	$1.72	16d	1	0.87mi
1411 NW 9th Ave Cape Coral, FL	4.0	2.0	1760	$2,150	$1.22	15d	1	0.88mi
1406 NW 8th Pl Cape Coral, FL	3.0	2.0	1403	$1,855	$1.32	25d	1	0.89mi
1809 NW 17th Ter Cape Coral, FL	3.0	2.0	1750	$1,980	$1.13	25d	1	0.92mi
2043 NW 6th Ter Cape Coral, FL	4.0	2.0	1712	$2,999	$1.75	25d	1	0.98mi
416 NW 17th Ave Cape Coral, FL	3.0	2.0	1199	$2,000	$1.67	5d	1	1.00mi
1501 NW 4th St Cape Coral, FL	4.0	2.0	1809	$3,800	$2.10	5d	1	1.00mi
1823 NW 19th Ave Cape Coral, FL	4.0	2.0	1712	$1,850	$1.08	25d	1	1.05mi
1427 NW 20th St Cape Coral, FL	4.0	2.0	1617	$1,895	$1.17	17d	1	1.12mi
305 NW 16th Pl Cape Coral, FL	3.0	2.5	1446	$2,095	$1.45	5d	1	1.13mi
1917 NW 12th Ave Cape Coral, FL	3.0	2.0	1528	$2,200	$1.44	25d	1	1.14mi
2014 NW 16th Pl Cape Coral, FL	4.0	2.0	1712	$1,701	$0.99	15d	1	1.14mi
1156 NW 5th Pl Cape Coral, FL	3.0	2.0	1458	$1,695	$1.16	21d	1	1.19mi
526 NW 9th St Cape Coral, FL	4.0	2.0	1800	$2,100	$1.17	5d	1	1.20mi
2023 NW 3rd Ter Cape Coral, FL	3.0	2.0	1408	$2,150	$1.53	25d	1	1.22mi
521 NW 14th Ter Cape Coral, FL	4.0	2.0	1737	$1,821	$1.05	5d	1	1.29mi

Listing history 16 events

1. 2026-06-16
   status $294,999 Pending 102 DOM
2. 2026-06-15
   days on market $294,999 Active 102 DOM
3. 2026-06-13
   days on market $294,999 Active 100 DOM
4. 2026-06-10
   days on market $294,999 Active 97 DOM
5. 2026-06-09
   days on market $294,999 Active 96 DOM
6. 2026-06-07
   days on market $294,999 Active 94 DOM
7. 2026-06-02
   days on market $294,999 Active 89 DOM
8. 2026-06-01
   days on market $294,999 Active 88 DOM
9. 2026-06-01
   days on market $294,999 Active 87 DOM
10. 2026-05-22
    price $294,999 961-char remark

    Show marketing remark (961 chars)

    WELCOME TO YOUR NEW DR HORTON HOME!! This is our appealing one-story, open concept, 1499 sqft FREEPORT II Floorplan featuring 4 bedrooms, 2 bathrooms, 2-car garage, all concrete block construction. This home is on a beautiful lot located in Cape Coral. This home boasts Designer cabinets and quartz countertops in both the kitchen and baths. Experience the timeless beauty and durability of RevWood laminated wood floors featured throughout the home, modern flat stock trim and baseboards, all stainless kitchen appliances including refrigerator, paver driveways and lanai, irrigation system, and garage door openers. Be wowed by the INCLUDED "home-is-connected" package plus three years of Alarm.com service. This is why owning a brand-new home from America's largest builder is going to be your best option. These homes move quickly so don't miss out. Finishings may vary - images are representational only of the model home based in that community.

11. 2026-05-21
    price $294,999
12. 2026-03-06
    listed $315,885 Active 961-char remark

    Show marketing remark (961 chars)

    WELCOME TO YOUR NEW DR HORTON HOME!! This is our appealing one-story, open concept, 1499 sqft FREEPORT II Floorplan featuring 4 bedrooms, 2 bathrooms, 2-car garage, all concrete block construction. This home is on a beautiful lot located in Cape Coral. This home boasts Designer cabinets and quartz countertops in both the kitchen and baths. Experience the timeless beauty and durability of RevWood laminated wood floors featured throughout the home, modern flat stock trim and baseboards, all stainless kitchen appliances including refrigerator, paver driveways and lanai, irrigation system, and garage door openers. Be wowed by the INCLUDED "home-is-connected" package plus three years of Alarm.com service. This is why owning a brand-new home from America's largest builder is going to be your best option. These homes move quickly so don't miss out. Finishings may vary - images are representational only of the model home based in that community.

13. 2026-03-05
    listed $315,885 Active
14. 2025-12-19
    soldstatus $1,102,500
15. 2003-11-19
    soldstatus $9,800
16. 2003-11-19
    soldstatus $51,300

ⓘ 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: $1,114 · $93/mo
• Projected year-2 tax: $2,448 · $204/mo
• Expected delta: +$1,334/yr (+$111/mo · 119.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $26,416
• − Mortgage interest: −$16,525
• − Property taxes: −$1,114
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,113
• − Management: −$2,113
• − Depreciation: −$8,582
• Taxable loss: −$5,506
• Est. tax savings @ 24.0%: +$1,321
• After-tax cash flow: $1,037/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

+2910.2% since first listed

7 events — show timeline

• 2026-05-22 Price Changed $294,999 Zillow
• 2026-05-21 Price Changed $294,999 NAPLESMLS
• 2026-03-06 Listed $315,885 Zillow
• 2026-03-05 Listed $315,885 NAPLESMLS
• 2025-12-19 Sold (Public Records) $1,102,500 Public Records
• 2003-11-19 Sold (Public Records) $51,300 Public Records
• 2003-11-19 Sold (Public Records) $9,800 Public Records

Property tax history

+13.8%/yr

Latest (2025): $1,114 · +11.9% YoY. Source: county tax records.