1965 Roseate Ln · Sanibel, FL 33957

$1,000,000

3 bd · 3.0 ba · 1,987 sqft · SingleFamily public records · 271 Days on market

Built 2000 Good condition 10,018 sqft lot 2-car garage $503/sqft · 25% below area Est $1.337M · 25% under · waterfront

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Why this score? — see what drove the A- 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 +6.9/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICE REDUCTION — IT’S A BUYER’S MARKET — MOVE NOW! Shows Like a Model • Room for a Pool • Prime Sanibel Location In today’s buyer’s market, the homes that shine and are priced strategically are the ones that sell. This is your opportunity to secure an exceptional property on Sanibel Island — don’t wait. Escape to paradise in this immaculate Key West–style home overlooking a serene freshwater lake. This beautifully maintained 3-bedroom, 2-bath retreat offers relaxed coastal elegance in a central location just minutes from the beach.

Key facts

• Freshwater lake
• Open airy floor plan
• Key west style home

Tags

• KEY WEST STYLE HOME
• FRESHWATER LAKE
• OPEN AIRY FLOOR PLAN
• DRAMATIC ENTRANCE
• ETCHED GLASS DOORS
• REMODELED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.00M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.00M).
• Recommended offer: $880k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.6% 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: 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.
• Zoned schools: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 582 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 117d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $7k of loan paydown is wiped out by about $30k 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 $280k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($880k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $126k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $740k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $880,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.83% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.90%
• DSCR: 2.51
• GRM: 4.6

CMA / ARV

• ARV (median comp): $1,337,071
• List price: $1,000,000
• Delta: -25.21%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
595 Piedmont Rd	0.33mi	3/2.0	1,871 (-6%)	1mo	$1,175,000	$628	70
1714 Atlanta Plaza Dr	0.34mi	4/3.0 (+1)	2,048 (+3%)	10mo	$961,714	$470	66
1890 Middle Gulf Dr	0.43mi	3/3.0	2,217 (+12%)	8mo	$1,355,000	$611	54

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 2.12×
• Total profit: $314,907
• Equity at exit: $149,103

10-year hold

• IRR: 34.7%
• Equity multiple: 4.18×
• Total profit: $889,192
• Equity at exit: $86,462

Cash invested: $280,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 24 active · 10 under contract
• Months of supply: 144.0 mo (1%/mo absorbed)
• Median asking: $972,500 ($460/sqft)
• Median days on market: 146 d
• This list price: 58% of active listings are priced below it
• ARV vs active asking: +46.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33957

• Home prices YoY: -15.7%
• Active inventory: 582
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $18,267 medium
• Mortgage (P&I): −$5,244
• Tax from tax record: −$859 /mo · $10,313/yr
• Insurance: −$417
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,836
• Net cashflow: $7,484

Break-even live

Break-even rent $8,793

Max offer price $1,000,000

Occupancy floor 54%

Sensitivity live

Price	-10% $8,050	-5% $7,767	+0% $7,484	+5% $7,201	+10% $6,918
Rent	-10% $6,041	-5% $6,762	+0% $7,484	+5% $8,205	+10% $8,927
Rate	-1.0pp $7,987	-0.5pp $7,738	base $7,484	+0.5pp $7,225	+1.0pp $6,961

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: $250,000
• Closing costs: $30,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2130 Sunset Cir Sanibel, FL	3.0	2.5	1827	$18,000	$9.85	10d	1	0.33mi
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$4,220	$2.56	10d	1	0.71mi
1235 Par View Dr Sanibel, FL	2.0	2.0	1534	$3,500	$2.28	117d	1	0.78mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	119d	1	1.20mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	119d	1	1.22mi

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated communityNo association fee indicated

Exterior

• Parking: Attached 2-car garageCovered/underground parking
• Security: Smoke detectors
• Utilities: Public waterPublic sewerCable availableHigh-speed internet available
• Home design: Single-story homeEntry level 1Resale propertyFaces west
• Construction: Built with vinyl siding and wood frameMetal roof1 story
• Exterior features: DeckOpen porchStoragePond on lotEast exposureHas view (lake)

Interior

• Kitchen: DishwasherRangeMicrowaveRefrigeratorFreezerKitchen islandPantryEat-in kitchenBreakfast bar
• Bedrooms: Guest quarters
• Flooring: TileVinyl
• Bathrooms: 2 full bathroomsDual sinks, separate shower, and bathtub
• Heating & cooling: Central heating (electric)Central air (electric)
• Interior features: FurnishedBreakfast barBathtubCathedral ceilingsDual sinksEntrance foyerEat-in kitchenHigh ceilingsKitchen islandLiving/dining roomPantrySeparate showerWalk-in closetsWindow treatmentsSplit bedroomsSingle hung and sliding windows
• Laundry & utility: WasherDryerDisposal

Listing history 44 events

1. 2026-07-26
   days on market $1,000,000 Active 271 DOM
2. 2026-07-24
   days on market $1,000,000 Active 269 DOM
3. 2026-07-23
   days on market $1,000,000 Active 268 DOM
4. 2026-07-22
   days on market $1,000,000 Active 267 DOM
5. 2026-07-21
   days on market $1,000,000 Active 266 DOM
6. 2026-07-18
   days on market $1,000,000 Active 263 DOM
7. 2026-07-18
   days on market $1,000,000 Active 262 DOM
8. 2026-07-16
   days on market $1,000,000 Active 261 DOM
9. 2026-07-15
   days on market $1,000,000 Active 260 DOM
10. 2026-07-13
    days on market $1,000,000 Active 258 DOM
11. 2026-07-13
    days on market $1,000,000 Active 257 DOM
12. 2026-07-12
    days on market $1,000,000 Active 256 DOM
13. 2026-07-10
    days on market $1,000,000 Active 255 DOM
14. 2026-07-10
    days on market $1,000,000 Active 254 DOM
15. 2026-07-07
    days on market $1,000,000 Active 252 DOM
16. 2026-07-06
    days on market $1,000,000 Active 251 DOM
17. 2026-07-05
    days on market $1,000,000 Active 250 DOM
18. 2026-07-02
    days on market $1,000,000 Active 247 DOM
19. 2026-07-01
    days on market $1,000,000 Active 246 DOM
20. 2026-06-30
    days on market $1,000,000 Active 245 DOM
21. 2026-06-29
    days on market $1,000,000 Active 244 DOM
22. 2026-06-28
    days on market $1,000,000 Active 243 DOM
23. 2026-06-25
    days on market $1,000,000 Active 239 DOM
24. 2026-06-22
    days on market $1,000,000 Active 237 DOM
25. 2026-06-22
    days on market $1,000,000 Active 236 DOM
26. 2026-06-17
    days on market $1,000,000 Active 232 DOM
27. 2026-06-16
    days on market $1,000,000 Active 231 DOM
28. 2026-06-16
    days on market $1,000,000 Active 230 DOM
29. 2026-06-13
    days on market $1,000,000 Active 228 DOM
30. 2026-06-09
    days on market $1,000,000 Active 224 DOM
31. 2026-06-07
    days on market $1,000,000 Active 222 DOM
32. 2026-06-02
    days on market $1,000,000 Active 217 DOM
33. 2026-06-01
    days on market $1,000,000 Active 216 DOM
34. 2026-06-01
    days on market $1,000,000 Active 215 DOM
35. 2026-02-22
    price $1,000,000
36. 2026-01-21
    price $1,075,900
37. 2025-10-28
    listed $1,125,900 Active
38. 2025-07-31
    historical
39. 2025-02-19
    price $1,125,900
40. 2024-12-21
    listed $1,199,000 Active
41. 2021-04-15
    soldstatus $740,000
42. 1999-10-12
    soldstatus $75,000
43. 1991-12-01
    soldstatus $62,200
44. 1989-05-01
    soldstatus $75,000

ⓘ 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: $10,313 · $859/mo
• Projected year-2 tax: $10,313 · $859/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 25 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: $219,200
• − Mortgage interest: −$56,016
• − Property taxes: −$10,313
• − Insurance: −$10,118
• − Repairs & maintenance: −$17,536
• − Management: −$17,536
• − Depreciation: −$29,091
• Taxable income: $78,589
• Est. tax owed @ 24.0%: −$18,861
• After-tax cash flow: $70,945/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $9,935–$29,805 screening

This well-maintained Key West-style home offers a serene waterfront location and modern updates, making it a great investment opportunity.

Components & finishes AI

Roof metal · good Flooring tile Counters granite Appliances stainless steel HVAC central · new lt5

Value-add opportunities

• Resale Painting the exterior — Fresh paint can make a significant difference in the curb appeal and overall look of the home, potentially increasing its resale value. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the curb appeal and add value to the property, both for resale and rental. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary The Sanibel School A+ FL #5/2,144 Nat'l #94/41,679 High Cypress Lake High School D- FL #228/667 Nat'l #6,809/17,239

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

C Composite livability gradescore 67/100

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
• County: Lee · 871,946 people
• City population: 6,402
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 6,402
• Household income: $122,730
• Rent vs Own: 8.4% rent · 91.6% own
• Severe rent burden: 3% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated communityNo association fee indicated

Exterior

• Parking: Attached 2-car garageCovered/underground parking
• Security: Smoke detectors
• Utilities: Public waterPublic sewerCable availableHigh-speed internet available
• Home design: Single-story homeEntry level 1Resale propertyFaces west
• Construction: Built with vinyl siding and wood frameMetal roof1 story
• Exterior features: DeckOpen porchStoragePond on lotEast exposureHas view (lake)

Interior

• Kitchen: DishwasherRangeMicrowaveRefrigeratorFreezerKitchen islandPantryEat-in kitchenBreakfast bar
• Bedrooms: Guest quarters
• Flooring: TileVinyl
• Bathrooms: 2 full bathroomsDual sinks, separate shower, and bathtub
• Heating & cooling: Central heating (electric)Central air (electric)
• Interior features: FurnishedBreakfast barBathtubCathedral ceilingsDual sinksEntrance foyerEat-in kitchenHigh ceilingsKitchen islandLiving/dining roomPantrySeparate showerWalk-in closetsWindow treatmentsSplit bedroomsSingle hung and sliding windows
• Laundry & utility: WasherDryerDisposal

Price history

+1233.3% since first listed

10 events — show timeline

• 2026-02-22 Price Changed $1,000,000 FORTMLS
• 2026-01-21 Price Changed $1,075,900 FORTMLS
• 2025-10-28 Listed $1,125,900 FORTMLS
• 2025-07-31 Listing Removed — FORTMLS
• 2025-02-19 Price Changed $1,125,900 FORTMLS
• 2024-12-21 Listed $1,199,000 FORTMLS
• 2021-04-15 Sold (Public Records) $740,000 Public Records
• 1999-10-12 Sold (Public Records) $75,000 Public Records
• 1991-12-01 Sold (Public Records) $62,200 Public Records
• 1989-05-01 Sold (Public Records) $75,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $10,313 · -22.3% YoY. Source: county tax records.