10878 Dennington Rd · Fort Myers, FL 33913

$568,500

2 bd · 2.0 ba · 1,969 sqft · SingleFamily public records · 91 Days on market

Built 2015 7,579 sqft lot Est $571k · at est. $472/mo HOA · 9% of rent ↓ 8% since listing

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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 +10.8/30.0
• ARV discount +7.7/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• DSCR +3.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This two-bedroom plus den saltwater pool home in Bridgetown at The Plantation offers over 1,900 square feet of living space with volume ceilings and designer finishes throughout. Upon entry through the hurricane glass led inlet door, tile and luxury vinyl flooring set an elegant atmosphere complemented by earth-tone paint and abundant natural light. Crown molding and tray ceilings add to the refined ambiance. The kitchen serves as a central gathering area, featuring a large granite island, designer pendant lighting, a stylish backsplash, and new appliances installed in 2023—including an LG French Door refrigerator, LG convection oven, and top of the line Bosch dishwasher. All cabinetr

Key facts

• Saltwater pool
• Custom shelving
• Granite island

Tags

• SALTWATER POOL
• HURRICANE GLASS DOOR
• GRANITE ISLAND
• PRIVATE COFFEE BAR
• WALK-IN PANTRY
• CUSTOM SHELVING

Property features AI

Finance

• Other: Community contains multiple units (community size indicated)
• Financial info: Association fee listed quarterly
• HOA & community: Homeowners association (quarterly fee); Association fee includes management, cable TV, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, sewer, street lights, security, and trash; Community amenities: clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball, bocce court, playground, park, barbecue/picnic area, trails, sidewalks, business center, management, and sidewalks; Gated community with street lights

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage door opener; Two covered spaces
• Security: Gated community; Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Underground utilities; Irrigation with reclaimed water
• Home design: Single-story; Entry level: 1; Faces southeast; Resale property; MDP-3 zoning
• Construction: Block, concrete and stucco construction; Tile roof; Built on foundation (standard)
• Exterior features: Lanai (screened porch); Porch; Screened porch; Sprinkler/irrigation system (automatic); Shutters (electric and manual); Concrete pool equipment; Has view; Paved road

Interior

• Kitchen: Kitchen island; Self-cleaning oven; Electric cooktop; Microwave; Dishwasher; Disposal; Refrigerator; Water purifier
• Bedrooms: Bedroom on main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Breakfast bar; Built-in features; Tray ceilings; Family/Dining room; Living/Dining room; Pantry; Walk-in pantry; Walk-in closet(s); Dual sinks; Separate shower (shower only); High speed internet; Cable TV; Split bedrooms; Unfurnished
• Laundry & utility: Inside laundry; Washer; Dryer; Laundry tub

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $568k.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $523k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $502k (11.6% below list).
• Recommended offer: $502k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.0% in 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 flat; 811 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); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $5,023/mo this rent would consume 55% of the median local household income ($110k/yr) (locally 276% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 91 days — a 9% lower offer ($517k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $502,281 (11.6% 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 91 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.88% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $571,010
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11800 Meadowrun Cir	0.42mi	2/2.0	2,104 (+7%)	2mo	$550,000	$261	67
12120 Corcoran Pl	0.47mi	3/2.0 (+1)	1,939 (-2%)	8mo	$575,000	$297	64
11897 Clifton Ter	0.54mi	3/2.0 (+1)	1,862 (-5%)	4mo	$550,000	$295	57
10911 Glenhurst St	0.23mi	3/3.0 (+1)	2,171 (+10%)	10mo	$409,000	$188	55
10907 Maitland Way	0.69mi	3/2.0 (+1)	2,107 (+7%)	4mo	$610,000	$290	48
11884 Bourke Pl	0.58mi	3/2.0 (+1)	2,107 (+7%)	15mo	$615,000	$292	44
11108 Laughton Cir	0.69mi	2/2.0	2,153 (+9%)	17mo	$615,000	$286	38
11872 Bourke Pl	0.61mi	3/2.0 (+1)	2,107 (+7%)	22mo	$670,000	$318	37
11548 Lakewood Preserve Pl	0.68mi	3/2.5 (+1)	2,242 (+14%)	2mo	$490,000	$219	36
11643 Riverstone Ln	0.68mi	3/2.5 (+1)	2,242 (+14%)	7mo	$390,000	$174	32

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 · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-121,312
• Equity at exit: $84,765

10-year hold

• IRR: -26.5%
• Equity multiple: -0.11×
• Total profit: $-176,248
• Equity at exit: $49,153

Cash invested: $159,180 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $5,023 high
• Mortgage (P&I): −$2,981
• Tax from tax record: −$537 /mo · $6,443/yr
• Insurance: −$237
• HOA: −$472
• Vacancy / Maint / Mgmt: −$1,055
• Net cashflow: $-259

Break-even live

Break-even rent $5,351

Max offer price $522,739

Occupancy floor —

Sensitivity live

Price	-10% $63	-5% $-98	+0% $-259	+5% $-420	+10% $-581
Rent	-10% $-656	-5% $-457	+0% $-259	+5% $-61	+10% $138
Rate	-1.0pp $27	-0.5pp $-114	base $-259	+0.5pp $-406	+1.0pp $-556

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: $142,125
• Closing costs: $17,055
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	24d	1	0.15mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	15d	1	0.15mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	24d	1	0.15mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	3d	1	0.20mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	24d	1	0.22mi
11012 Castlereagh St Fort Myers, FL	3.0	3.0	2517	$12,000	$4.77	24d	1	0.23mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	24d	1	0.24mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	24d	1	0.33mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	22d	1	0.37mi
11701 Avingston Ter Fort Myers, FL	2.0	2.0	1553	$5,500	$3.54	15d	1	0.41mi
10271 Glastonbury Cir #102 Fort Myers, FL	2.0	2.0	1550	$4,500	$2.90	24d	1	0.47mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$2,606	$1.97	4d	23	0.49mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	24d	1	0.55mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	24d	1	0.57mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	16d	1	0.63mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	24d	1	0.63mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	24d	1	0.65mi
11869 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1646	$5,000	$3.04	24d	1	0.80mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	16d	1	0.82mi
11442 Tiverton Trce Fort Myers, FL	3.0	2.0	2010	$9,500	$4.73	24d	1	0.86mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	24d	1	0.91mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	0.92mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	0.94mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	22d	1	0.94mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	16d	1	0.95mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	24d	1	0.95mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	24d	1	0.96mi
12908 New Market St #201 Fort Myers, FL	3.0	2.5	2198	$3,000	$1.36	24d	1	0.99mi
11343 Tiverton Trce Fort Myers, FL	2.0	2.0	1685	$4,000	$2.37	4d	1	1.00mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	22d	1	1.00mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	4d	1	1.09mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	24d	1	1.13mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	24d	1	1.14mi
10529 Casella Way #102 Fort Myers, FL	3.0	2.0	1722	$4,500	$2.61	24d	1	1.16mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	12d	1	1.17mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	24d	1	1.17mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	24d	1	1.20mi
10520 Casella Way #101 Fort Myers, FL	3.0	2.0	1722	$7,000	$4.07	24d	1	1.22mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	1.23mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	1.24mi

HOA detail

• Monthly dues: $472 · $5,664/yr
• Likely covers: waterpool

Listing history 12 events

1. 2026-06-13
   statusdays on market $568,500 Pending 91 DOM
2. 2026-06-10
   days on market $568,500 Active 89 DOM
3. 2026-06-09
   days on market $568,500 Active 88 DOM
4. 2026-06-07
   days on market $568,500 Active 86 DOM
5. 2026-06-03
   days on market $568,500 Active 82 DOM
6. 2026-06-02
   days on market $568,500 Active 81 DOM
7. 2026-06-01
   days on market $568,500 Active 80 DOM
8. 2026-06-01
   days on market $568,500 Active 79 DOM
9. 2026-05-11
   price $568,500
10. 2026-04-20
    price $575,000
11. 2026-04-04
    price $595,000
12. 2026-03-13
    listed $615,000 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: $6,443 · $537/mo
• Projected year-2 tax: $6,443 · $537/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $60,274
• − Mortgage interest: −$31,845
• − Property taxes: −$6,443
• − Insurance: −$2,842
• − Repairs & maintenance: −$4,822
• − Management: −$4,822
• − HOA: −$5,664
• − Depreciation: −$16,538
• Taxable loss: −$12,703
• Est. tax savings @ 24.0%: +$3,049
• After-tax cash flow: $-60/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ 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: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

-7.6% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $568,500 FORTMLS
• 2026-04-20 Price Changed $575,000 FORTMLS
• 2026-04-04 Price Changed $595,000 FORTMLS
• 2026-03-13 Listed $615,000 FORTMLS

Property tax history

+9.7%/yr

Latest (2025): $6,443 · +2.3% YoY. Source: county tax records.