10515 Diamante Way · Fort Myers, FL 33913

$299,000

2 bd · 2.0 ba · 1,051 sqft · Condo public records · 188 Days on market

Built 2003 $846/mo HOA · 18% of rent

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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 +24.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute as a Button! Updated Asti Model with Living Room Extension, 2 Bedrooms, 2 Baths with a home office adjacent to the laundry room. Freshly Painted Inside and Out, Plantation Shutters, TURNKEY FURNISHED AND A BRAND NEW ROOF! Perfect for entertaining or relaxing with a screened-in lanai and beautifully landscaped backyard. Natural Gas is available here for those who love to cook with gas and there's even a stub out on the lanai for your gas grill, no need to constantly fill tanks. This home is Gorgeous and Clean, with a garage and all on one level, this twin villa truly lives like a single family home even though classified as a condo with exterior painting & roof reserves. .. . Pelican Preserve is the Premier 55 & Better Community in SW Florida. Featuring: 80,000 sq ft of amenities! Imagine a Social Meeting Place, World Class Fitness, Tennis Facility, Butterfly Garden, Arts & Crafts Studio, Wood Working Shop, Movie Theater, 27 holes of Championship Golf (optional), Amazing Restaurants, 38 Acre Cypress Preserve w/ Boardwalks, 3 Pools, Flip Flops Poolside Bar, Jazz Concerts, & Full Spa! The preferred method of transportation, take your golf cart throughout the whole community!

Key facts

• Natural gas stove
• Landscaped backyard
• Screened-in lanai

Tags

• ASTI MODEL VILLA
• LIVING ROOM EXTENSION
• NATURAL GAS STOVE
• SCREENED-IN LANAI
• LANDSCAPED BACKYARD
• ONE-LEVEL LAYOUT

Property features AI

Finance

• Other: Part of a large community (approximately 2,500 units)
• Financial info: Land lease expires 2026-03-31; Pets allowed (conditional) — up to 2
• HOA & community: Homeowners association (quarterly fee); Association fee includes management, cable TV, legal/accounting, grounds maintenance, pest control and reserve fund; Community amenities: golf, gated access, tennis courts, street lights, basketball court, bocce court, billiard room, business center, clubhouse, dog park, fitness center, guest suites, hobby room, library, media room, playground, pickleball, park, private membership, pool, putting greens, restaurant, shuffleboard court

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage door opener
• Security: Security gate; Gated community with guard; Security guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available; Cable available; High-speed internet available; Underground utilities; Irrigation supplied by reclaimed water
• Home design: Single-story; Entry level: 1; Faces west; Resale; Has property attached
• Construction: Block, concrete and stucco construction; Tile roof; Built on foundation (standard)
• Exterior features: Sprinkler/irrigation (automatic); Patio; Lanai; Screened porch; Porch; Room for pool; Shutters (manual); Guest house attached; Community pool; Paved road

Interior

• Kitchen: Gas cooktop; Microwave; Dishwasher; Disposal; Icemaker; Refrigerator (with ice maker)
• Bedrooms: Guest quarters; Den; Office
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Furnished; Family/Dining room; Living/Dining room; Pantry; Tub with shower; Walk-in closet(s); Window treatments; Window coverings; High-speed internet; Home office; Split bedrooms
• Laundry & utility: Washer; Dryer; Laundry tub; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 32 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 $4,593/mo this rent would consume 50% 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 $2k of loan paydown is wiped out by about $9k 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 188 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $51k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.78×
• Total profit: $-18,580
• Equity at exit: $44,582

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-6,818
• Equity at exit: $25,852

Cash invested: $83,720 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $4,593 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$445 /mo · $5,343/yr
• Insurance: −$125
• HOA: −$846
• Vacancy / Maint / Mgmt: −$965
• Net cashflow: $645

Break-even live

Break-even rent $3,777

Max offer price $299,000

Occupancy floor 81%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.30mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	23d	1	0.30mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	0.35mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	23d	1	0.39mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	0.42mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	0.47mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	0.48mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	0.53mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	23d	1	0.59mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	23d	1	0.64mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	0.64mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	23d	1	0.65mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	23d	1	0.67mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	23d	1	0.70mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	23d	1	0.72mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	23d	1	0.72mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.72mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	0.72mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	23d	1	0.73mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	0.76mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	23d	1	0.77mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	23d	1	0.83mi
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	23d	1	0.85mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.88mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	23d	1	0.89mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	23d	2	0.89mi
9217 Aviano Dr Fort Myers, FL	2.0	2.0	1227	$2,500	$2.04	11d	1	1.35mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	14d	1	1.36mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	14d	1	1.36mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	14d	1	1.40mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	23d	1	1.40mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	3d	1	1.44mi

HOA detail condo

• Monthly dues: $846 · $10,152/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-04-29
   price $299,000
2. 2026-04-10
   price $319,900
3. 2026-01-05
   price $340,000
4. 2025-11-19
   listed $350,000 Active
5. 2025-08-09
   historical $5,400
6. 2025-07-17
   listed $5,400
7. 2024-02-15
   historical $2,600
8. 2023-10-17
   listed $2,600
9. 2021-06-01
   soldstatus $267,500
10. 2021-05-28
    soldstatus $267,500 Sold 1221-char remark

    Show marketing remark (1221 chars)

    Cute as a Button! Updated Asti Model with Living Room Extension, 2 Bedrooms, 2 Baths with a home office adjacent to the laundry room. Freshly Painted Inside and Out, Plantation Shutters, TURNKEY FURNISHED AND A BRAND NEW ROOF! Perfect for entertaining or relaxing with a screened-in lanai and beautifully landscaped backyard. Natural Gas is available here for those who love to cook with gas and there's even a stub out on the lanai for your gas grill, no need to constantly fill tanks. This home is Gorgeous and Clean, with a garage and all on one level, this twin villa truly lives like a single family home even though classified as a condo with exterior painting & roof reserves. .. . Pelican Preserve is the Premier 55 & Better Community in SW Florida. Featuring: 80,000 sq ft of amenities! Imagine a Social Meeting Place, World Class Fitness, Tennis Facility, Butterfly Garden, Arts & Crafts Studio, Wood Working Shop, Movie Theater, 27 holes of Championship Golf (optional), Amazing Restaurants, 38 Acre Cypress Preserve w/ Boardwalks, 3 Pools, Flip Flops Poolside Bar, Jazz Concerts, & Full Spa! The preferred method of transportation, take your golf cart throughout the whole community!

11. 2021-05-07
    status Pending With Contingencies 1221-char remark

    Show marketing remark (1221 chars)

    Cute as a Button! Updated Asti Model with Living Room Extension, 2 Bedrooms, 2 Baths with a home office adjacent to the laundry room. Freshly Painted Inside and Out, Plantation Shutters, TURNKEY FURNISHED AND A BRAND NEW ROOF! Perfect for entertaining or relaxing with a screened-in lanai and beautifully landscaped backyard. Natural Gas is available here for those who love to cook with gas and there's even a stub out on the lanai for your gas grill, no need to constantly fill tanks. This home is Gorgeous and Clean, with a garage and all on one level, this twin villa truly lives like a single family home even though classified as a condo with exterior painting & roof reserves. .. . Pelican Preserve is the Premier 55 & Better Community in SW Florida. Featuring: 80,000 sq ft of amenities! Imagine a Social Meeting Place, World Class Fitness, Tennis Facility, Butterfly Garden, Arts & Crafts Studio, Wood Working Shop, Movie Theater, 27 holes of Championship Golf (optional), Amazing Restaurants, 38 Acre Cypress Preserve w/ Boardwalks, 3 Pools, Flip Flops Poolside Bar, Jazz Concerts, & Full Spa! The preferred method of transportation, take your golf cart throughout the whole community!

12. 2021-05-07
    listed $267,500 Active 1221-char remark

    Show marketing remark (1221 chars)

    Cute as a Button! Updated Asti Model with Living Room Extension, 2 Bedrooms, 2 Baths with a home office adjacent to the laundry room. Freshly Painted Inside and Out, Plantation Shutters, TURNKEY FURNISHED AND A BRAND NEW ROOF! Perfect for entertaining or relaxing with a screened-in lanai and beautifully landscaped backyard. Natural Gas is available here for those who love to cook with gas and there's even a stub out on the lanai for your gas grill, no need to constantly fill tanks. This home is Gorgeous and Clean, with a garage and all on one level, this twin villa truly lives like a single family home even though classified as a condo with exterior painting & roof reserves. .. . Pelican Preserve is the Premier 55 & Better Community in SW Florida. Featuring: 80,000 sq ft of amenities! Imagine a Social Meeting Place, World Class Fitness, Tennis Facility, Butterfly Garden, Arts & Crafts Studio, Wood Working Shop, Movie Theater, 27 holes of Championship Golf (optional), Amazing Restaurants, 38 Acre Cypress Preserve w/ Boardwalks, 3 Pools, Flip Flops Poolside Bar, Jazz Concerts, & Full Spa! The preferred method of transportation, take your golf cart throughout the whole community!

ⓘ 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: $5,343 · $445/mo
• Projected year-2 tax: $5,343 · $445/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 4/10 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: $55,122
• − Mortgage interest: −$16,749
• − Property taxes: −$5,343
• − Insurance: −$1,495
• − Repairs & maintenance: −$4,410
• − Management: −$4,410
• − HOA: −$10,152
• − Depreciation: −$8,698
• Taxable income: $3,865
• Est. tax owed @ 24.0%: −$928
• After-tax cash flow: $6,813/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

+11.8% since first listed

12 events — show timeline

• 2026-04-29 Price Changed $299,000 FORTMLS
• 2026-04-10 Price Changed $319,900 FORTMLS
• 2026-01-05 Price Changed $340,000 FORTMLS
• 2025-11-19 Listed $350,000 FORTMLS
• 2025-08-09 Rental Removed $5,400 SHOWMOJO
• 2025-07-17 Listed for Rent $5,400 SHOWMOJO
• 2024-02-15 Rental Removed $2,600 FORTMLS
• 2023-10-17 Listed for Rent $2,600 FORTMLS
• 2021-06-01 Sold (Public Records) $267,500 Public Records
• 2021-05-28 Sold (MLS) $267,500 NAPLESMLS
• 2021-05-07 Pending — NAPLESMLS
• 2021-05-07 Listed $267,500 NAPLESMLS

Property tax history

+6.6%/yr

Latest (2025): $5,343 · -6.2% YoY. Source: county tax records.