10505 Diamante Way · Fort Myers, FL 33913

$298,000

2 bd · 2.0 ba · 1,355 sqft · Condo public records · 71 Days on market

Built 2003 $848/mo HOA · 18% of rent

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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 +26.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• 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

Not a Short Sale or Foreclosure! Fast Response Seller! COMPLETELY UPGRADED Villa in Beautiful 55 and Better Pelican Preserve. With almost 1400 square feet this Home is UPGRADED and MOVE IN READY! There has been no expense spared with Plantation Shutters, Wind Rated Windows, Tile and Hardwood floors, Electric Sun-Setter on EXTENDED Screened lanai, OVERSIZED garage with COMPLETE storage system, and an added Home Office/Den space. With all of the extras, you cannot build even close to this price. Plantation Preserve is an award winning community with nearly every imaginable amenity and activity. OPTIONAL GOLF membership on their championship course; 70,000 SqFt towncenter with restaurant, movie theatre, and more; Tennis, Resort Style Pools, Pickleball, and a 38 acre preserve complete with a Boardwalk. All of this with a location that cannot be matched. See the Virtual Tour. Welcome HOME!

Key facts

• Newer roof
• Water heater
• Hvac system

Tags

• IMPACT WINDOWS AND DOORS
• NEWER ROOF
• HVAC SYSTEM
• WATER HEATER
• PERGO AND TILE FLOORING
• UPDATED LIGHT FIXTURES

Property features AI

Finance

• Other: Pets allowed on a conditional basis; contact for details
• Financial info: Association fee billed quarterly
• HOA & community: Homeowners association with quarterly fee; Association fee covers management, cable TV, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, street lights, security and trash; Community amenities include beach rights, bocce court, billiards, bike storage, business center, clubhouse, dog park, fitness center, golf course access, hobby room, library, media room, pickleball, park, private membership, pool, putting greens, restaurant, shuffleboard and spa/hot tub; Gated community with street lights; Senior community; 46 units in the community

Exterior

• Parking: Attached garage; 2 covered garage spaces
• Security: Security gate; Gated community with guard; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Natural gas available; High-speed internet available; Underground utilities
• Home design: Single-story home; Tile roof; Block, concrete and stucco construction; Resale property; Entry at level 1; Faces west; Part of an attached property
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Security/high-impact doors; Sprinkler/irrigation system (municipal source); Patio; Lanai; Screened porch; Porch; Attached guest house; Community pool; Zero lot line; Situated on a cul-de-sac; Private road with private maintenance; East exposure

Interior

• Kitchen: Gas cooktop; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Water purifier / reverse osmosis system; Eat-in kitchen and breakfast bar; Pantry
• Bedrooms: Den; Great room; Office; Screened porch
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Impact glass windows; Furnishing negotiable; Breakfast bar; Built-in features; Eat-in kitchen; Handicap access; Pantry; Shower-only bathroom with separate shower; Cable TV; Bar; High-speed internet; Home office; Split bedroom layout; Smart home features
• Laundry & utility: Washer; Dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $298k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $298k).
• Recommended offer: $280k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 $4,705/mo this rent would consume 51% 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 71 days — a 6% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $235k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $280,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.58% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 5.3

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: -3.9%
• Equity multiple: 0.86×
• Total profit: $-11,690
• Equity at exit: $44,433

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $7,077
• Equity at exit: $25,766

Cash invested: $83,440 (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: 5.3×

Monthly cashflow live

• Estimated rent: $4,705 high
• Mortgage (P&I): −$1,563
• Tax from tax record: −$426 /mo · $5,117/yr
• Insurance: −$124
• HOA: −$848
• Vacancy / Maint / Mgmt: −$988
• Net cashflow: $755

Break-even live

Break-even rent $3,749

Max offer price $298,000

Occupancy floor 79%

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	23d	1	0.19mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	23d	1	0.19mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.25mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	23d	1	0.25mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	23d	1	0.26mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	23d	1	0.33mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	0.39mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	23d	1	0.41mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	23d	1	0.42mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	23d	1	0.45mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	0.46mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	23d	1	0.48mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	15d	2	0.52mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	0.52mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	3d	1	0.54mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	0.58mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	15d	1	0.59mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	23d	1	0.59mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	23d	1	0.60mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	23d	1	0.61mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	23d	1	0.62mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	23d	1	0.63mi
10428 Materita Dr Fort Myers, FL	2.0	2.0	1568	$6,250	$3.99	23d	1	0.64mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	23d	1	0.65mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	23d	1	0.69mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	23d	1	0.69mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.69mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	0.69mi
10730 Cetrella Dr Fort Myers, FL	3.0	2.0	1558	$6,900	$4.43	23d	1	0.69mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	23d	1	0.72mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	23d	1	0.73mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	15d	1	0.73mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	23d	1	0.74mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	0.76mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	0.76mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	23d	1	0.76mi
10520 Casella Way #101 Fort Myers, FL	3.0	2.0	1722	$7,000	$4.07	23d	1	0.77mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	23d	1	0.77mi
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	23d	1	0.78mi
10529 Casella Way #102 Fort Myers, FL	3.0	2.0	1722	$4,500	$2.61	23d	1	0.80mi

HOA detail condo

• Monthly dues: $848 · $10,176/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-07
   status $298,000 Pending 71 DOM
2. 2026-06-03
   days on market $298,000 Active 71 DOM
3. 2026-06-02
   days on market $298,000 Active 70 DOM
4. 2026-06-01
   days on market $298,000 Active 69 DOM
5. 2026-06-01
   days on market $298,000 Active 68 DOM
6. 2026-04-08
   price $298,000
7. 2026-03-23
   listed $309,000 Active
8. 2021-04-15
   soldstatus $235,000
9. 2012-08-02
   soldstatus $160,000
10. 2012-07-24
    soldstatus $156,500 899-char remark

    Show marketing remark (899 chars)

    Not a Short Sale or Foreclosure! Fast Response Seller! COMPLETELY UPGRADED Villa in Beautiful 55 and Better Pelican Preserve. With almost 1400 square feet this Home is UPGRADED and MOVE IN READY! There has been no expense spared with Plantation Shutters, Wind Rated Windows, Tile and Hardwood floors, Electric Sun-Setter on EXTENDED Screened lanai, OVERSIZED garage with COMPLETE storage system, and an added Home Office/Den space. With all of the extras, you cannot build even close to this price. Plantation Preserve is an award winning community with nearly every imaginable amenity and activity. OPTIONAL GOLF membership on their championship course; 70,000 SqFt towncenter with restaurant, movie theatre, and more; Tennis, Resort Style Pools, Pickleball, and a 38 acre preserve complete with a Boardwalk. All of this with a location that cannot be matched. See the Virtual Tour. Welcome HOME!

11. 2012-06-14
    price $160,000 899-char remark

    Show marketing remark (899 chars)

    Not a Short Sale or Foreclosure! Fast Response Seller! COMPLETELY UPGRADED Villa in Beautiful 55 and Better Pelican Preserve. With almost 1400 square feet this Home is UPGRADED and MOVE IN READY! There has been no expense spared with Plantation Shutters, Wind Rated Windows, Tile and Hardwood floors, Electric Sun-Setter on EXTENDED Screened lanai, OVERSIZED garage with COMPLETE storage system, and an added Home Office/Den space. With all of the extras, you cannot build even close to this price. Plantation Preserve is an award winning community with nearly every imaginable amenity and activity. OPTIONAL GOLF membership on their championship course; 70,000 SqFt towncenter with restaurant, movie theatre, and more; Tennis, Resort Style Pools, Pickleball, and a 38 acre preserve complete with a Boardwalk. All of this with a location that cannot be matched. See the Virtual Tour. Welcome HOME!

ⓘ 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: $5,117 · $426/mo
• Projected year-2 tax: $5,117 · $426/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: $56,455
• − Mortgage interest: −$16,693
• − Property taxes: −$5,117
• − Insurance: −$1,490
• − Repairs & maintenance: −$4,516
• − Management: −$4,516
• − HOA: −$10,176
• − Depreciation: −$8,669
• Taxable income: $5,277
• Est. tax owed @ 24.0%: −$1,267
• After-tax cash flow: $7,797/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

+86.2% since first listed

6 events — show timeline

• 2026-04-08 Price Changed $298,000 FORTMLS
• 2026-03-23 Listed $309,000 FORTMLS
• 2021-04-15 Sold (Public Records) $235,000 Public Records
• 2012-08-02 Sold (Public Records) $160,000 Public Records
• 2012-07-24 Sold (MLS) $156,500 FORTMLS
• 2012-06-14 Price Changed $160,000 FORTMLS

Property tax history

+6.1%/yr

Latest (2025): $5,117 · -0.6% YoY. Source: county tax records.