1117 SE 33rd Ter · Cape Coral, FL 33904

$199,000

3 bd · 2.0 ba · 1,370 sqft · SingleFamily public records · 4 Days on market

Built 1967 10,018 sqft lot Est $304k · 35% under

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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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• 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

For the first time since it was built, this home in South Cape Coral is ready for its next chapter. A true time capsule offering a rare opportunity to either embrace its vintage charm with a thoughtful restoration or reimagine the space with a complete modern remodel. Some key updates have already been taken care of, including a roof replaced in 2017, an AC system upgraded in 2022, city water and sewer with all assessments fully paid, and a new electricity meter installed in 2017. Located just minutes from downtown Cape Coral's vibrant dining, shopping, and entertainment scene, with quick access to the bridges connecting you to Fort Myers and beyond, this home is a blank canvas in one of Ca

Key facts

• Ac system upgraded
• City water and sewer
• Roof replaced

Tags

• ROOF REPLACED
• AC SYSTEM UPGRADED
• CITY WATER AND SEWER
• NEW ELECTRICITY METER
• MINUTES FROM DOWNTOWN
• QUICK ACCESS TO BRIDGES

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Attached garage with 1 covered space; Driveway parking; Paved surface with garage door opener
• Utilities: Public water (assessment paid); Public sewer (assessment paid); Cable not available
• Home design: Single-story home; Entry level: 1; Faces south; North exposures; Resale property; R1 zoning; Rectangular lot (approx. 0.23 acres, 80 x 125 x 80 x 125)
• Construction: Block, concrete and stucco construction; Shingle roof; Built on foundation
• Exterior features: Fenced yard; Open porch

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator
• Bedrooms: Bedroom on main level; Florida room
• Flooring: Terrazzo; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Wall units
• Interior features: Built-in features; Family/Dining room; Living/Dining room; Separate shower; Shower only; Unfurnished; Single hung windows
• Laundry & utility: Washer hookup in garage; Dryer hookup in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (0.3% below list).
• Recommended offer: $198k (0.3% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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.
• Market conditions: Rents falling (-5.5%/yr); 820 active listings in the ZIP; 40 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 33% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $6k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $27k; list at $199k implies a 637% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,370 (0.3% below list)

Questions for the listing agent

1. Built in 1967 — 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. 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?
5. 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.
6. 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.
7. 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: 1.00% ✗
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $304,140
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 SE 30th Ter	0.36mi	3/2.0	1,260 (-8%)	2mo	$320,000	$254	68
1214 SE 34th St	0.18mi	3/2.0	1,508 (+10%)	8mo	$334,900	$222	68
1319 SE 33rd Ter	0.27mi	2/2.0 (-1)	1,258 (-8%)	3mo	$265,000	$211	66
1315 SE 33rd St	0.26mi	3/2.0	1,539 (+12%)	2mo	$235,000	$153	66
632 SE 35th St	0.59mi	2/2.0 (-1)	1,359 (-1%)	1mo	$140,000	$103	65
1209 SE 36th St	0.32mi	3/2.0	1,186 (-13%)	8mo	$240,000	$202	56
3034 SE 10th Pl	0.38mi	3/2.0	1,568 (+14%)	4mo	$450,000	$287	55
3011 SE 8th Pl	0.55mi	3/2.0	1,529 (+12%)	4mo	$340,000	$222	52
918 SE 28th Ter	0.65mi	3/2.0	1,525 (+11%)	1mo	$329,900	$216	50
2825 SE 8th Pl	0.71mi	3/2.0	1,212 (-12%)	5mo	$319,000	$263	43
1306 Shelby Pkwy	0.71mi	3/2.0	1,562 (+14%)	3mo	$500,000	$320	41
530 SE 34th Ter	0.73mi	2/2.0 (-1)	1,174 (-14%)	2mo	$249,900	$213	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: -11.0%
• Equity multiple: 0.61×
• Total profit: $-21,659
• Equity at exit: $29,672

10-year hold

• IRR: -6.5%
• Equity multiple: 0.64×
• Total profit: $-20,238
• Equity at exit: $17,206

Cash invested: $55,720 (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 33904

• Rents YoY: -5.5%
• Active inventory: 820
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,984 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $258

Break-even live

Break-even rent $1,658

Max offer price $199,000

Occupancy floor 82%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3410 SE 11th Pl Cape Coral, FL	3.0	2.0	1368	$2,500	$1.83	23d	1	0.09mi
3425 SE 10th Ave Cape Coral, FL	3.0	2.0	1706	$2,500	$1.47	23d	1	0.25mi
1402 SE 34th St Cape Coral, FL	3.0	2.0	1613	$1,899	$1.18	11d	1	0.29mi
1322 SE 35th Ter Cape Coral, FL	4.0	2.0	1803	$2,850	$1.58	23d	1	0.37mi
1426 SE 34th Ter Cape Coral, FL	3.0	2.0	1740	$7,103	$4.08	23d	1	0.39mi
1410 SE 31st Ter Cape Coral, FL	3.0	2.0	1792	$5,600	$3.12	23d	1	0.42mi
1502 SE 33rd St Cape Coral, FL	3.0	2.0	1430	$2,100	$1.47	3d	1	0.44mi
3609 SE 9th Pl Unit 1 Cape Coral, FL	2.0	2.0	914	$1,200	$1.31	23d	1	0.44mi
3609 SE 9th Pl Unit 1 Cape Coral, FL	2.0	2.0	914	$1,200	$1.31	3d	1	0.44mi
1038 SE 30th St Cape Coral, FL	3.0	2.0	1754	$2,400	$1.37	21d	1	0.46mi
3708 SE 12th Ave #201 Cape Coral, FL	2.0	2.0	1111	$1,800	$1.62	23d	1	0.47mi
3619 SE 9th Pl Cape Coral, FL	2.0	2.0	1090	$1,250	$1.15	23d	1	0.47mi
3722 SE 12th Ave Unit 1F Cape Coral, FL	2.0	2.0	1410	$2,150	$1.52	23d	1	0.49mi
1128 SE 29th Ter Cape Coral, FL	3.0	2.0	1534	$2,250	$1.47	23d	1	0.52mi
3325 SE 15th Pl #202 Cape Coral, FL	2.0	2.0	908	$1,295	$1.43	23d	1	0.52mi
3325 SE 15th Pl #202 Cape Coral, FL	2.0	2.0	908	$1,295	$1.43	16d	1	0.52mi
3509 SE 15th Pl Unit 3 Cape Coral, FL	2.0	2.0	1070	$1,395	$1.30	11d	1	0.55mi
3813 SE 11th Pl #1214 Cape Coral, FL	2.0	2.0	1008	$1,725	$1.71	3d	1	0.56mi
3705 Country Club Blvd Unit 1 Cape Coral, FL	2.0	1.0	900	$1,300	$1.44	23d	1	0.57mi
1124 SE 29th St Cape Coral, FL	3.0	2.0	1578	$1,500	$0.95	23d	1	0.57mi
3801 Country Club Blvd Unit 1 Cape Coral, FL	2.0	1.0	950	$1,400	$1.47	23d	1	0.64mi
3629 SE 15th Pl Cape Coral, FL	2.0	2.0	1196	$1,495	$1.25	3d	1	0.64mi
3808 SE 11th Ave Unit A Cape Coral, FL	2.0	2.0	1121	$1,600	$1.43	23d	1	0.65mi
2927 SE 15th Pl Unit 4 Cape Coral, FL	2.0	1.0	945	$1,350	$1.43	14d	1	0.72mi
1235 Shelby Pkwy Cape Coral, FL	3.0	2.0	1479	$2,200	$1.49	3d	1	0.77mi
3021 SE 17th Ave Cape Coral, FL	3.0	2.0	1317	$3,955	$3.00	23d	1	0.81mi
3923 SE 12th Ave Cape Coral, FL	3.0	2.0	1684	$2,000	$1.19	23d	1	0.82mi
1019 SE 40th St Unit 1334306P Cape Coral, FL	2.0	2.0	1001	$2,159	$2.16	3d	1	0.84mi
1019 SE 40th St Unit 1334302P Cape Coral, FL	2.0	2.0	1001	$2,211	$2.21	3d	1	0.84mi
1005 SE 40th St #10 Cape Coral, FL	2.0	2.0	1111	$1,550	$1.40	23d	1	0.84mi
3832 SE 7th Ave Cape Coral, FL	2.0	2.0	1386	$1,575	$1.14	23d	1	0.85mi
1220 SE 40th St #7 Cape Coral, FL	2.0	2.0	1100	$1,500	$1.36	19d	1	0.86mi
1608 SE 28th Ter Unit A28 Cape Coral, FL	2.0	2.5	1444	$1,400	$0.97	23d	1	0.89mi
618 W Archer Pkwy Cape Coral, FL	3.0	2.0	1554	$5,135	$3.30	23d	1	0.91mi
922 SE 26th Ter Cape Coral, FL	2.0	2.0	1323	$1,700	$1.28	19d	1	0.92mi
1404 SE 40th St Unit A-3 Cape Coral, FL	2.0	2.0	1115	$1,850	$1.66	3d	1	0.92mi
1318 SE 40th Ter Unit 2 Cape Coral, FL	2.0	16.0	971	$1,350	$1.39	3d	1	0.96mi
4014 Coronado Pkwy #106 Cape Coral, FL	2.0	2.0	1380	$1,400	$1.01	23d	1	0.98mi
327 SE 31st Ter Cape Coral, FL	3.0	2.0	1408	$1,725	$1.23	3d	1	0.98mi
922 SE 25th Ln Cape Coral, FL	3.0	2.0	1516	$2,250	$1.48	23d	1	1.03mi

Listing history 5 events

1. 2026-06-18
   statusdays on market $199,000 Pending 4 DOM
2. 2026-06-17
   days on market $199,000 Active 3 DOM
3. 2026-06-16
   days on market $199,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $199,000 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: $1,398 · $116/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$254/yr (+$21/mo · 18.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $23,804
• − Mortgage interest: −$11,147
• − Property taxes: −$1,398
• − Insurance: −$1,792
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − Depreciation: −$5,789
• Taxable loss: −$131
• Est. tax savings @ 24.0%: +$31
• After-tax cash flow: $3,123/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): 33,599
• Household income: $71,190
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 1182.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 11% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 9%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Indo-European 1% Chinese 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: ▼ -190.05%
• Current HPI: 266.3458
• Rent YoY: ▼ -5.48%
• 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

+847.6% since first listed

3 events — show timeline

• 2026-06-12 Listed $199,000 FORTMLS
• 1976-11-01 Sold (Public Records) $27,000 Public Records
• 1975-10-01 Sold (Public Records) $21,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $1,398 · +10.3% YoY. Source: county tax records.