21 Cabana Ave · North Fort Myers, FL 33903

$125,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 6 Days on market

Built 1956 4,138 sqft lot Est $169k · 26% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

TAKING BACKUP OFFER - Stop scrolling and meet your new favorite "set it and forget it" investment—a beautifully remodeled 3-bedroom gem positioned so perfectly that you can almost hear the rhythm of the monthly Music Walk or the creative buzz of the Art Walk in Downtown Fort Myers right from your own yard. This isn’t just a pretty face with its sleek granite counters, brand-new stainless steel appliances, and fresh updates; it’s a total financial rockstar that comes "pre-loaded" with a tenant, letting you skip the landlord-marketing-headache and jump straight to that sweet payday the second you close. With a roof that is only about 3 years old, a newer

Key facts

• Remodeled
• Granite counters
• Corner lot

Tags

• REMODELED
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES
• CORNER LOT

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$168,720) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 13.2% vs local median 3.6% in North Fort Myers — 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, 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: Rents soft (-1.9%/yr); 472 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 40% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 3y 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; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $125,000

Questions for the listing agent

1. Built in 1956 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.51% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.69%
• DSCR: 2.10
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $168,720
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Cypress St	0.12mi	3/1.0	832 (-9%)	7mo	$122,500	$147	74
83 Oak St	0.14mi	3/2.0	1,004 (+10%)	12mo	$85,000	$85	63
142 Brooks Rd	0.54mi	2/1.0 (-1)	840 (-8%)	18mo	$155,000	$185	41
20 Glenmont Dr W	0.66mi	2/1.0 (-1)	864 (-5%)	23mo	$170,000	$197	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-6,870
• Equity at exit: $18,638

10-year hold

• IRR: -1.2%
• Equity multiple: 0.93×
• Total profit: $-2,375
• Equity at exit: $10,808

Cash invested: $35,000 (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 33903

• Rents YoY: -1.9%
• Active inventory: 472
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,891 high
• Mortgage (P&I): −$656
• Tax from tax record: −$66 /mo · $797/yr
• Insurance: −$52
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $293

Break-even live

Break-even rent $1,520

Max offer price $125,000

Occupancy floor 79%

Sensitivity live

Price	-10% $364	-5% $329	+0% $293	+5% $258	+10% $223
Rent	-10% $144	-5% $219	+0% $293	+5% $368	+10% $443
Rate	-1.0pp $356	-0.5pp $325	base $293	+0.5pp $261	+1.0pp $228

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92 Oak St North Fort Myers, FL	2.0	2.0	1008	$2,000	$1.98	3d	1	0.14mi
3300 N Key Dr Unit 4W North Fort Myers, FL	2.0	2.0	1103	$3,000	$2.72	24d	1	0.56mi
3324 N Key Dr #7 North Fort Myers, FL	2.0	1.0	791	$1,495	$1.89	24d	1	0.57mi
3345 N Key Dr #47 North Fort Myers, FL	2.0	2.5	1112	$2,150	$1.93	24d	1	0.58mi
3328 N Key Dr #5 North Fort Myers, FL	2.0	1.0	791	$1,400	$1.77	24d	1	0.58mi
3328 N Key Dr North Fort Myers, FL	2.0	1.0	800	$1,400	$1.75	3d	1	0.59mi
3342 N Key Dr Unit L3 North Fort Myers, FL	2.0	1.0	791	$1,490	$1.88	24d	1	0.60mi
21 Crescent Lake Dr Unit 21 North Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	24d	1	0.70mi
8049 Stillwater Ct North Fort Myers, FL	1.0–2.0	1.0–2.0	720	$1,600	$2.22	24d	1	0.75mi
3490 N Key Dr #514 North Fort Myers, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	0.83mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	3d	1	0.91mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	24d	1	0.92mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	3d	1	1.05mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	24d	1	1.05mi
1056 Old Bridge Rd North Fort Myers, FL	2.0	1.0	1100	$1,350	$1.23	24d	1	1.12mi
257 Poe Ave North Fort Myers, FL	2.0	1.0	870	$1,175	$1.35	3d	1	1.19mi
1288 Waite Dr North Fort Myers, FL	2.0	2.0	972	$2,200	$2.26	24d	1	1.40mi

Listing history 50 events

1. 2026-02-18
   status Pending
2. 2026-02-12
   listed $125,000 Active
3. 2025-11-18
   historical
4. 2025-11-18
   historical
5. 2025-10-31
   price $149,000
6. 2025-10-31
   price $149,000
7. 2025-10-27
   price $157,900
8. 2025-10-27
   price $157,900
9. 2025-10-15
   price $159,000
10. 2025-10-15
    price $159,000
11. 2025-10-07
    price $164,000
12. 2025-10-07
    price $164,000
13. 2025-09-15
    price $165,000
14. 2025-09-15
    price $165,000
15. 2025-09-01
    status Active
16. 2025-08-31
    historical
17. 2025-08-29
    price $170,000
18. 2025-08-29
    price $170,000
19. 2025-08-14
    status Active
20. 2025-08-14
    status Active
21. 2025-07-07
    status Pending
22. 2025-07-07
    status Pending
23. 2025-06-19
    price $174,000
24. 2025-06-19
    price $174,000
25. 2025-06-12
    price $175,000
26. 2025-06-12
    price $175,000
27. 2025-06-07
    historical $1,500
28. 2025-06-06
    status Active
29. 2025-06-06
    status Active
30. 2025-05-22
    price $1,500
31. 2025-05-07
    status Pending
32. 2025-05-07
    status Pending
33. 2025-05-01
    listed $1,590
34. 2025-04-18
    price $179,000
35. 2025-04-18
    price $179,000
36. 2025-04-11
    price $185,000
37. 2025-04-11
    price $185,000
38. 2025-04-04
    price $189,000
39. 2025-04-04
    price $189,000
40. 2025-03-24
    price $195,000
41. 2025-03-24
    price $195,000
42. 2025-02-16
    status Active
43. 2025-02-15
    status Active
44. 2025-02-15
    price $199,000
45. 2025-02-15
    price $199,000
46. 2024-09-29
    historical
47. 2024-09-29
    historical
48. 2024-09-10
    price $228,000
49. 2024-08-27
    price $229,000
50. 2024-08-27
    price $229,000

ⓘ 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: $797 · $66/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$241/yr (+$20/mo · 30.2%)

ⓘ 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 ≥107°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: $22,694
• − Mortgage interest: −$7,002
• − Property taxes: −$797
• − Insurance: −$5,744
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − Depreciation: −$3,636
• Taxable income: $1,884
• Est. tax owed @ 24.0%: −$452
• After-tax cash flow: $3,070/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 23,655
• Household income: $56,993
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 468.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 4% Romanian 4% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -172.26%
• Current HPI: 256.773
• Rent YoY: ▼ -1.94%
• 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

+312.5% since first listed

66 events — show timeline

• 2026-02-18 Pending — FORTMLS
• 2026-02-12 Listed $125,000 FORTMLS
• 2025-11-18 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-18 Listing Removed — FORTMLS
• 2025-10-31 Price Changed $149,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-31 Price Changed $149,000 FORTMLS
• 2025-10-27 Price Changed $157,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-27 Price Changed $157,900 FORTMLS
• 2025-10-15 Price Changed $159,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-15 Price Changed $159,000 FORTMLS
• 2025-10-07 Price Changed $164,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $164,000 FORTMLS
• 2025-09-15 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-15 Price Changed $165,000 FORTMLS
• 2025-09-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-29 Price Changed $170,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-29 Price Changed $170,000 FORTMLS
• 2025-08-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-08-14 Relisted — FORTMLS
• 2025-07-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-07 Pending — FORTMLS
• 2025-06-19 Price Changed $174,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-19 Price Changed $174,000 FORTMLS
• 2025-06-12 Price Changed $175,000 FORTMLS
• 2025-06-12 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-07 Rental Removed $1,500 TENANTTURNER2
• 2025-06-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-06-06 Relisted — FORTMLS
• 2025-05-22 Price Changed $1,500 TENANTTURNER2
• 2025-05-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-05-07 Pending — FORTMLS
• 2025-05-01 Listed for Rent $1,590 TENANTTURNER2
• 2025-04-18 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-18 Price Changed $179,000 FORTMLS
• 2025-04-11 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-11 Price Changed $185,000 FORTMLS
• 2025-04-04 Price Changed $189,000 FORTMLS
• 2025-04-04 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-24 Price Changed $195,000 FORTMLS
• 2025-03-24 Price Changed $195,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-02-15 Relisted — FORTMLS
• 2025-02-15 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-15 Price Changed $199,000 FORTMLS
• 2024-09-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-09-29 Listing Removed — FORTMLS
• 2024-09-10 Price Changed $228,000 FORTMLS
• 2024-08-27 Price Changed $229,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-27 Price Changed $229,000 FORTMLS
• 2024-08-08 Price Changed $230,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-07 Price Changed $230,000 FORTMLS
• 2024-07-31 Price Changed $234,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-30 Price Changed $234,000 FORTMLS
• 2024-07-17 Listed $235,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-17 Listed $235,000 FORTMLS
• 2024-03-18 Sold (Public Records) $205,000 Public Records
• 2024-03-12 Sold (MLS) $205,000 FORTMLS
• 2024-01-24 Pending — FORTMLS
• 2023-11-13 Price Changed $214,000 FORTMLS
• 2023-10-12 Listed $215,000 FORTMLS
• 2023-10-04 Listing Removed — NAPLESMLS
• 2023-08-21 Listed $214,000 NAPLESMLS
• 2023-05-03 Sold (Public Records) $87,000 Public Records
• 1994-10-26 Sold (Public Records) $38,000 Public Records
• 1989-06-09 Sold (Public Records) $30,300 Public Records

Property tax history

+4.4%/yr

Latest (2025): $797 · +68.7% YoY. Source: county tax records.