771 Rabbit Rd · Sanibel, FL 33957

$694,000

2 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 355 Days on market

Built 1986 Good condition 0.35 ac lot Garage $551/sqft · 25% below area Est $928k · 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 +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Sanibel river views from this near beach, 2 bedroom and 2 bath, partially furnished 1/2 duplex. New roof in March 2023, 2-car garage, interior & exterior storage, wood and tile floors throughout. Granite counters and backsplash in kitchen. Laundry on main living level. Sliders across the back of the home that open to an expansive back deck overlooking the Sanibel river. Enjoy wide open water views and plenty of wildlife. Large fenced backyard with a custom pool, two orchid houses, decorative statues, ceramic pots, outside shower and a covered seating area. There is a water feature/koi pond on the side/front of house that was damaged from the hurricane. All is still in place, but needs to be re-worked and repaired.

Key facts

• Sanibel river views
• New tile flooring
• Custom cabinetry

Tags

• SANIBEL RIVER VIEWS
• PRIVATE SALTWATER POOL
• NEW ROOF
• NEW HURRICANE WINDOWS
• NEW TILE FLOORING
• CUSTOM CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $694k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $694k).
• Recommended offer: $611k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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; 2 comparable units currently listed for rent nearby; 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 $5k of loan paydown is wiped out by about $21k 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 $194k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 355 days — a 12% lower offer ($611k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $155k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $600k; 16% 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 $610,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 355 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: 1.95% ✓
• Cap rate: 16.87%
• Cash-on-cash: 37.77%
• DSCR: 2.68
• GRM: 4.3

CMA / ARV

• ARV (median comp): $928,114
• List price: $694,000
• Delta: -25.22%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
647 Rabbit Rd	0.20mi	3/2.0 (+1)	1,376 (+9%)	1mo	$625,000	$454	70
575 Hideaway Ct	0.35mi	3/2.5 (+1)	1,430 (+14%)	16mo	$607,500	$425	40

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: 30.7%
• Equity multiple: 2.29×
• Total profit: $250,201
• Equity at exit: $103,478

10-year hold

• IRR: 37.9%
• Equity multiple: 4.53×
• Total profit: $685,724
• Equity at exit: $60,004

Cash invested: $194,320 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 3 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $784,000 ($690/sqft)
• Median days on market: 147 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +6.7% vs 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: 4.3×

Monthly cashflow live

• Estimated rent: $13,500 medium
• Mortgage (P&I): −$3,639
• Tax from tax record: −$621 /mo · $7,449/yr
• Insurance: −$289
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,835
• Net cashflow: $5,689

Break-even live

Break-even rent $6,299

Max offer price $694,000

Occupancy floor 53%

Sensitivity live

Price	-10% $6,082	-5% $5,886	+0% $5,689	+5% $5,493	+10% $5,296
Rent	-10% $4,623	-5% $5,156	+0% $5,689	+5% $6,222	+10% $6,756
Rate	-1.0pp $6,039	-0.5pp $5,866	base $5,689	+0.5pp $5,509	+1.0pp $5,326

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: $173,500
• Closing costs: $20,820
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Durion Ct Sanibel, FL	3.0	2.5	1306	$12,000	$9.19	119d	1	0.32mi
707 Durion Ct Sanibel, FL	3.0	2.5	1306	$15,000	$11.49	10d	1	0.32mi

Property features AI

Finance

• Other: Private in-ground saltwater pool with pool equipmentWaterfront on a river
• Financial info: Pets allowed
• HOA & community: No association feeNon-gated community

Exterior

• Parking: Attached garage (2 spaces)DrivewayUnderground parking availableUnpaved areas
• Security: High-impact doorsSmoke detector(s)
• Utilities: Public waterPublic sewerCable available
• Home design: Single-storyEntry at ground levelFaces southeastHas a viewNorthwest exposure
• Construction: Wood siding and wood frame constructionShingle roofPillar/post/pier raised foundationResale propertyBuilt on a rectangular lot
• Exterior features: DeckLanaiOpen patioPatioPorchScreened porchFenceSecurity/high-impact doorsSmoke detector(s)

Interior

• Kitchen: Double ovenRangeMicrowaveDishwasherGarbage disposalIcemakerRefrigeratorRefrigerator with ice makerKitchen island
• Bedrooms: Guest quarters
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)Ceiling fan(s)
• Interior features: Built-in featuresKitchen islandLiving/dining roomShower-only bath with separate showerSingle hung windows with impact glassUnfurnished
• Laundry & utility: WasherDryerLaundry inside

Listing history 15 events

1. 2026-06-01
   days on market $694,000 Active 355 DOM
2. 2026-06-01
   days on market $694,000 Active 354 DOM
3. 2026-04-07
   price $694,000
4. 2026-01-21
   price $699,000
5. 2026-01-06
   price $719,000
6. 2025-12-11
   price $739,000
7. 2025-12-01
   price $749,000
8. 2025-11-17
   price $789,000
9. 2025-07-15
   price $799,000
10. 2025-06-11
    listed $849,000 Active
11. 2023-12-08
    soldstatus $600,000 Closed 739-char remark

    Show marketing remark (739 chars)

    Beautiful Sanibel river views from this near beach, 2 bedroom and 2 bath, partially furnished 1/2 duplex. New roof in March 2023, 2-car garage, interior & exterior storage, wood and tile floors throughout. Granite counters and backsplash in kitchen. Laundry on main living level. Sliders across the back of the home that open to an expansive back deck overlooking the Sanibel river. Enjoy wide open water views and plenty of wildlife. Large fenced backyard with a custom pool, two orchid houses, decorative statues, ceramic pots, outside shower and a covered seating area. There is a water feature/koi pond on the side/front of house that was damaged from the hurricane. All is still in place, but needs to be re-worked and repaired.

12. 2023-10-19
    status Pending 739-char remark

    Show marketing remark (739 chars)

    Beautiful Sanibel river views from this near beach, 2 bedroom and 2 bath, partially furnished 1/2 duplex. New roof in March 2023, 2-car garage, interior & exterior storage, wood and tile floors throughout. Granite counters and backsplash in kitchen. Laundry on main living level. Sliders across the back of the home that open to an expansive back deck overlooking the Sanibel river. Enjoy wide open water views and plenty of wildlife. Large fenced backyard with a custom pool, two orchid houses, decorative statues, ceramic pots, outside shower and a covered seating area. There is a water feature/koi pond on the side/front of house that was damaged from the hurricane. All is still in place, but needs to be re-worked and repaired.

13. 2023-10-16
    listed $679,000 Active 739-char remark

    Show marketing remark (739 chars)

    Beautiful Sanibel river views from this near beach, 2 bedroom and 2 bath, partially furnished 1/2 duplex. New roof in March 2023, 2-car garage, interior & exterior storage, wood and tile floors throughout. Granite counters and backsplash in kitchen. Laundry on main living level. Sliders across the back of the home that open to an expansive back deck overlooking the Sanibel river. Enjoy wide open water views and plenty of wildlife. Large fenced backyard with a custom pool, two orchid houses, decorative statues, ceramic pots, outside shower and a covered seating area. There is a water feature/koi pond on the side/front of house that was damaged from the hurricane. All is still in place, but needs to be re-worked and repaired.

14. 1998-11-09
    soldstatus $148,500
15. 1986-04-01
    soldstatus $170,000

ⓘ 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: $7,449 · $621/mo
• Projected year-2 tax: $7,449 · $621/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 3/10 Moderate
• 🌡 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: $162,000
• − Mortgage interest: −$38,875
• − Property taxes: −$7,449
• − Insurance: −$8,588
• − Repairs & maintenance: −$12,960
• − Management: −$12,960
• − Depreciation: −$20,189
• Taxable income: $60,979
• Est. tax owed @ 24.0%: −$14,635
• After-tax cash flow: $53,635/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $6,300–$18,900 screening

This home offers beautiful Sanibel River views and is in good condition with recent updates, making it a great investment opportunity.

Components & finishes AI

Roof asphalt shingle · good Flooring tile

Deferred maintenance Est. $2,000–$8,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.

Value-add opportunities

• Both New hurricane windows and doors — Enhances safety and energy efficiency ↑
• Both New sod and landscaping — Improves curb appeal and property value ↑
• Both New tile flooring throughout — Enhances durability and aesthetic appeal ↑

ⓘ 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

• Other: Private in-ground saltwater pool with pool equipmentWaterfront on a river
• Financial info: Pets allowed
• HOA & community: No association feeNon-gated community

Exterior

• Parking: Attached garage (2 spaces)DrivewayUnderground parking availableUnpaved areas
• Security: High-impact doorsSmoke detector(s)
• Utilities: Public waterPublic sewerCable available
• Home design: Single-storyEntry at ground levelFaces southeastHas a viewNorthwest exposure
• Construction: Wood siding and wood frame constructionShingle roofPillar/post/pier raised foundationResale propertyBuilt on a rectangular lot
• Exterior features: DeckLanaiOpen patioPatioPorchScreened porchFenceSecurity/high-impact doorsSmoke detector(s)

Interior

• Kitchen: Double ovenRangeMicrowaveDishwasherGarbage disposalIcemakerRefrigeratorRefrigerator with ice makerKitchen island
• Bedrooms: Guest quarters
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)Ceiling fan(s)
• Interior features: Built-in featuresKitchen islandLiving/dining roomShower-only bath with separate showerSingle hung windows with impact glassUnfurnished
• Laundry & utility: WasherDryerLaundry inside

Price history

+308.2% since first listed

13 events — show timeline

• 2026-04-07 Price Changed $694,000 FORTMLS
• 2026-01-21 Price Changed $699,000 FORTMLS
• 2026-01-06 Price Changed $719,000 FORTMLS
• 2025-12-11 Price Changed $739,000 FORTMLS
• 2025-12-01 Price Changed $749,000 FORTMLS
• 2025-11-17 Price Changed $789,000 FORTMLS
• 2025-07-15 Price Changed $799,000 FORTMLS
• 2025-06-11 Listed $849,000 FORTMLS
• 2023-12-08 Sold (MLS) $600,000 FORTMLS
• 2023-10-19 Pending — FORTMLS
• 2023-10-16 Listed $679,000 FORTMLS
• 1998-11-09 Sold (Public Records) $148,500 Public Records
• 1986-04-01 Sold (Public Records) $170,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $7,449 · +16.7% YoY. Source: county tax records.