2708 Mangrove St · St. James City, FL 33956

$405,000

3 bd · 2.0 ba · 1,204 sqft · SingleFamily public records · 48 Days on market

Built 1978 9,888 sqft lot Est $474k · 15% 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 +28.1/30.0
• ARV discount +14.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Direct Gulf Access, 1 turn and you are in the Pine Island sound and Sanibel Island, Wonderful Boating!!! This home offer 3 bedrooms, 2 full baths, nice size living room and a family room over looking the water, it also has a screened lania to enjoy the afternoon, Call for more details or for a private showing.

Key facts

• New seawall
• Updated kitchen
• Golf cart friendly

Tags

• DEEP DIRECT GULF ACCESS
• NEW SEAWALL
• GOLF CART FRIENDLY
• UPDATED KITCHEN
• ENCLOSED FLORIDA ROOM
• SPLIT BEDROOM FLOOR PLAN

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee; Community features include boat facilities; non-gated community

Exterior

• Parking: Attached garage with garage door opener (1 covered space, 1 garage space)
• Utilities: Public water; Septic tank; Cable not available
• Home design: Single-story home; Entry level 1; Faces east; Resale property
• Construction: Block, concrete and stucco construction; Metal roof
• Exterior features: Patio; Lanai; Screened porch; Porch; Canal access with seawall; West exposure; Rectangular lot; Public maintained paved road

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Freezer
• Bedrooms: Includes guest quarters
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Breakfast bar; Living/Dining room; Shower only with separate shower; Walk-in closet(s); Window treatments; Split bedrooms; Unfurnished
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $405k.

Deal economics

• At list price, monthly cash flow is $851 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $405k).
• Recommended offer: $393k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.9% in St. James City — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 287 active listings in the ZIP; 5 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 48 days — a 3% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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.
• Current owner paid $233k; list at $405k implies a 74% gain — meaningful room to come down on a strong offer.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $392,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.26% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $474,376
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3289 8th Ave	0.12mi	2/2.0 (-1)	1,049 (-13%)	15mo	$305,000	$291	55
2371 Baybreeze St	0.33mi	3/2.0	1,327 (+10%)	23mo	$307,500	$232	48
2288 Sycamore St	0.46mi	2/2.0 (-1)	1,371 (+14%)	4mo	$540,000	$394	47
2411 Oleander St	0.42mi	2/1.0 (-1)	1,117 (-7%)	22mo	$475,000	$425	41
3232 Stabile Rd	0.59mi	2/2.0 (-1)	1,056 (-12%)	12mo	$599,900	$568	37
2472 York Rd	0.70mi	2/1.5 (-1)	1,104 (-8%)	12mo	$395,000	$358	37
3177 Vacation Ln	0.56mi	2/3.0 (-1)	1,344 (+12%)	13mo	$1,040,000	$774	35

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-11,143
• Equity at exit: $60,387

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $61,311
• Equity at exit: $35,017

Cash invested: $113,400 (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 33956

• Home prices YoY: -16.3%
• Active inventory: 287
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $5,097 medium
• Mortgage (P&I): −$2,124
• Tax from tax record: −$457 /mo · $5,478/yr
• Insurance: −$169
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,070
• Net cashflow: $851

Break-even live

Break-even rent $4,020

Max offer price $405,000

Occupancy floor 78%

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: $101,250
• Closing costs: $12,150
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2744 Sanderling Ct Saint James City, FL	2.0	1.0	841	$5,300	$6.30	23d	1	0.07mi
2951 York Rd Saint James City, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.50mi
3864 Royal Palm Dr Saint James City, FL	2.0	1.0	960	$1,650	$1.72	23d	1	0.71mi
3811 Emerald Ave Saint James City, FL	3.0	2.5	1500	$5,500	$3.67	23d	1	0.74mi
3103 Harpoon Ln Saint James City, FL	2.0	2.0	1094	$3,000	$2.74	23d	1	0.75mi

Listing history 45 events

1. 2026-06-17
   days on market $405,000 Active 48 DOM
2. 2026-06-16
   days on market $405,000 Active 47 DOM
3. 2026-06-15
   days on market $405,000 Active 46 DOM
4. 2026-06-13
   days on market $405,000 Active 44 DOM
5. 2026-06-10
   days on market $405,000 Active 41 DOM
6. 2026-06-09
   days on market $405,000 Active 40 DOM
7. 2026-06-08
   days on market $405,000 Active 39 DOM
8. 2026-06-07
   days on market $405,000 Active 38 DOM
9. 2026-06-03
   days on market $405,000 Active 34 DOM
10. 2026-06-02
    days on market $405,000 Active 33 DOM
11. 2026-06-01
    days on market $405,000 Active 32 DOM
12. 2026-05-31
    days on market $405,000 Active 31 DOM
13. 2026-04-29
    listed $405,000 Active
14. 2026-04-29
    historical
15. 2026-04-17
    status Active
16. 2026-03-26
    status Pending
17. 2026-02-19
    price $409,000
18. 2026-01-20
    price $419,000
19. 2025-12-16
    price $425,000
20. 2025-11-20
    price $439,000
21. 2025-10-15
    price $449,000
22. 2025-09-12
    price $474,500
23. 2025-08-05
    listed $484,000 Active
24. 2018-06-04
    soldstatus $233,400
25. 2018-05-31
    soldstatus $235,000 Sold 312-char remark

    Show marketing remark (312 chars)

    Direct Gulf Access, 1 turn and you are in the Pine Island sound and Sanibel Island, Wonderful Boating!!! This home offer 3 bedrooms, 2 full baths, nice size living room and a family room over looking the water, it also has a screened lania to enjoy the afternoon, Call for more details or for a private showing.

26. 2018-03-08
    status Pending With Contingencies 312-char remark

    Show marketing remark (312 chars)

    Direct Gulf Access, 1 turn and you are in the Pine Island sound and Sanibel Island, Wonderful Boating!!! This home offer 3 bedrooms, 2 full baths, nice size living room and a family room over looking the water, it also has a screened lania to enjoy the afternoon, Call for more details or for a private showing.

27. 2017-10-06
    listed $249,900 Active 312-char remark

    Show marketing remark (312 chars)

    Direct Gulf Access, 1 turn and you are in the Pine Island sound and Sanibel Island, Wonderful Boating!!! This home offer 3 bedrooms, 2 full baths, nice size living room and a family room over looking the water, it also has a screened lania to enjoy the afternoon, Call for more details or for a private showing.

28. 2017-10-02
    historical
29. 2017-09-27
    price $249,900
30. 2017-07-10
    price $259,900
31. 2017-04-07
    price $264,900
32. 2017-03-08
    price $269,900
33. 2017-03-01
    price $272,900
34. 2017-02-18
    price $279,900
35. 2017-02-11
    price $284,900
36. 2017-01-31
    price $289,900
37. 2017-01-17
    price $294,900
38. 2017-01-05
    price $299,900
39. 2016-11-02
    listed $309,900 Active
40. 2016-09-30
    historical
41. 2016-04-13
    price $309,900
42. 2016-03-16
    listed $314,900 Active
43. 2016-03-16
    historical
44. 2015-06-04
    price $314,900
45. 2015-04-22
    listed $329,900 Active

ⓘ 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: $5,478 · $457/mo
• Projected year-2 tax: $5,478 · $457/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 10/10 Extreme FEMA zone AE · 99% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,159
• − Mortgage interest: −$22,686
• − Property taxes: −$5,478
• − Insurance: −$7,144
• − Repairs & maintenance: −$4,893
• − Management: −$4,893
• − Depreciation: −$11,782
• Taxable income: $4,284
• Est. tax owed @ 24.0%: −$1,028
• After-tax cash flow: $9,179/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 — St. James City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. James City, FL
• Population (ZIP): 3,846

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Pacific Islander 2% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Slovak 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% German/W. Germanic 2% 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: ▼ -58.47%
• Current HPI: 300.1416
• 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

+22.8% since first listed

33 events — show timeline

• 2026-04-29 Listing Removed — FORTMLS
• 2026-04-29 Listed $405,000 FORTMLS
• 2026-04-17 Relisted — FORTMLS
• 2026-03-26 Pending — FORTMLS
• 2026-02-19 Price Changed $409,000 FORTMLS
• 2026-01-20 Price Changed $419,000 FORTMLS
• 2025-12-16 Price Changed $425,000 FORTMLS
• 2025-11-20 Price Changed $439,000 FORTMLS
• 2025-10-15 Price Changed $449,000 FORTMLS
• 2025-09-12 Price Changed $474,500 FORTMLS
• 2025-08-05 Listed $484,000 FORTMLS
• 2018-06-04 Sold (Public Records) $233,400 Public Records
• 2018-05-31 Sold (MLS) $235,000 FORTMLS
• 2018-03-08 Pending — FORTMLS
• 2017-10-06 Listed $249,900 FORTMLS
• 2017-10-02 Listing Removed — FORTMLS
• 2017-09-27 Price Changed $249,900 FORTMLS
• 2017-07-10 Price Changed $259,900 FORTMLS
• 2017-04-07 Price Changed $264,900 FORTMLS
• 2017-03-08 Price Changed $269,900 FORTMLS
• 2017-03-01 Price Changed $272,900 FORTMLS
• 2017-02-18 Price Changed $279,900 FORTMLS
• 2017-02-11 Price Changed $284,900 FORTMLS
• 2017-01-31 Price Changed $289,900 FORTMLS
• 2017-01-17 Price Changed $294,900 FORTMLS
• 2017-01-05 Price Changed $299,900 FORTMLS
• 2016-11-02 Listed $309,900 FORTMLS
• 2016-09-30 Listing Removed — FORTMLS
• 2016-04-13 Price Changed $309,900 FORTMLS
• 2016-03-16 Listed $314,900 FORTMLS
• 2016-03-16 Listing Removed — FORTMLS
• 2015-06-04 Price Changed $314,900 FORTMLS
• 2015-04-22 Listed $329,900 FORTMLS

Property tax history

+10.9%/yr

Latest (2025): $5,478 · +9.6% YoY. Source: county tax records.