10127 Colonial Country Club Blvd #1603 · Fort Myers, FL 33913

$239,000

2 bd · 2.0 ba · 1,309 sqft · Condo public records · 134 Days on market

Built 2004 $878/mo HOA · 20% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Water view! Immaculate large 2 Bedroom with fully furnished rooms in showroom condition! This is a stunning condo with an astounding low price under 200k. The amenities at Colonial Country Club are remarkable with golf, multiple pools, tennis courts, and pristine walking boardwalks thru the tall peaceful pine trees. Please do not miss this unique home or vacationers dream.

Key facts

• Full-service spa
• Clubhouse dining
• $878 HOA

Tags

• FULLY REMODELED KITCHEN
• TROPICAL SCREENED LANAI
• SOUTHEAST-FACING LAKE VIEWS
• CLUBHOUSE DINING
• FULL-SERVICE SPA
• ATTENDED FITNESS CENTER

Property features AI

Finance

• Other: Located in the Colonial Country Club development (Garden Lakes sub-condo); Private and public road access; Deeded restrictions: architectural, no commercial, no truck
• Financial info: Total annual recurring fees reported; Total one-time fees reported
• HOA & community: Mandatory HOA; Quarterly HOA fee; Master HOA billed annually; Professional management; HOA maintenance covers: cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserve, security, street lights, street maintenance, trash removal, water; Community amenities include: clubhouse, community pool and spa/hot tub, exercise/fitness center (attended), full service spa, golf course (golf-bundled), putting green, BBQ/picnic area, bike and jog paths, bocce court, business center, library, pickleball, tennis courts, restaurant, shopping, sidewalks, underground utilities, private membership options

Exterior

• Parking: 2 assigned covered, deeded paved parking spaces; 1 detached carport space
• Security: Gated community; Community security included in maintenance
• Utilities: Central water; Central sewer (assessment paid); Cable available; Reclaimed irrigation with assessment paid
• Home design: Residential property; Low-rise building (1-3); 2-story design; Rear exposure facing SE
• Construction: Concrete block construction; Stucco exterior; Tile roof; Built in 2004
• Exterior features: Automatic sprinkler system; Storage; Shutters (manual); Shutters with screens/fabric; Single-hung windows; Lake waterfront; Canal, lake and wooded area views; Zero lot line

Interior

• Kitchen: Pantry; Breakfast bar; Eat-in kitchen; Formal dining area; Cooktop - Electric; Dishwasher; Disposal; Microwave; Refrigerator/Icemaker
• Bedrooms: 2 bedrooms; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Foyer; High-speed internet available; Pantry; Smoke detectors; Turnkey furnished; Screened lanai/porch; Guest room; Guest bath; Laundry in residence
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $239k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 $4,432/mo this rent would consume 48% 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 $7k 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 134 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 2 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 $145k; list at $239k implies a 65% 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 $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.85% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 4.5

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: -6.1%
• Equity multiple: 0.78×
• Total profit: $-14,444
• Equity at exit: $35,636

10-year hold

• IRR: -2.4%
• Equity multiple: 0.87×
• Total profit: $-8,673
• Equity at exit: $20,664

Cash invested: $66,920 (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: 4.5×

Monthly cashflow live

• Estimated rent: $4,432 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$296 /mo · $3,558/yr
• Insurance: −$100
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$878
• Vacancy / Maint / Mgmt: −$931
• Net cashflow: $547

Break-even live

Break-even rent $3,739

Max offer price $239,000

Occupancy floor 83%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	23d	1	0.05mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	3d	1	0.06mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	23d	1	0.06mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	16d	1	0.15mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	23d	1	0.15mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	23d	1	0.16mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	23d	1	0.17mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	23d	1	0.19mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	0.22mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	0.22mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	23d	1	0.22mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	23d	1	0.26mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	16d	1	0.28mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	23d	1	0.45mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	0.47mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	23d	1	0.49mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	23d	1	0.50mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	23d	1	0.53mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	23d	1	0.58mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	23d	1	0.72mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	23d	1	0.73mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.73mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	23d	1	0.73mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	23d	1	0.75mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	23d	1	0.75mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.75mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	0.78mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	0.79mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	0.79mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	0.83mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	23d	1	0.84mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	23d	1	0.85mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.85mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	0.94mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	23d	1	0.97mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	23d	1	1.01mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	23d	1	1.01mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	23d	1	1.03mi
10025 Oakhurst Way Fort Myers, FL	2.0	2.0	1504	$7,100	$4.72	23d	1	1.06mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	23d	1	1.07mi

HOA detail condo

• Monthly dues: $878 · $10,536/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-17
   days on market $239,000 Active 134 DOM
2. 2026-06-16
   days on market $239,000 Active 133 DOM
3. 2026-06-15
   days on market $239,000 Active 132 DOM
4. 2026-06-13
   days on market $239,000 Active 130 DOM
5. 2026-06-10
   days on market $239,000 Active 127 DOM
6. 2026-06-09
   days on market $239,000 Active 126 DOM
7. 2026-06-07
   days on market $239,000 Active 124 DOM
8. 2026-06-02
   days on market $239,000 Active 119 DOM
9. 2026-06-01
   days on market $239,000 Active 118 DOM
10. 2026-06-01
    days on market $239,000 Active 117 DOM
11. 2026-05-01
    price $239,000
12. 2026-02-03
    listed $250,000 Active
13. 2015-04-01
    price $145,000 376-char remark

    Show marketing remark (376 chars)

    Water view! Immaculate large 2 Bedroom with fully furnished rooms in showroom condition! This is a stunning condo with an astounding low price under 200k. The amenities at Colonial Country Club are remarkable with golf, multiple pools, tennis courts, and pristine walking boardwalks thru the tall peaceful pine trees. Please do not miss this unique home or vacationers dream.

14. 2015-03-25
    soldstatus $145,000
15. 2015-03-19
    price $159,000 376-char remark

    Show marketing remark (376 chars)

    Water view! Immaculate large 2 Bedroom with fully furnished rooms in showroom condition! This is a stunning condo with an astounding low price under 200k. The amenities at Colonial Country Club are remarkable with golf, multiple pools, tennis courts, and pristine walking boardwalks thru the tall peaceful pine trees. Please do not miss this unique home or vacationers dream.

16. 2015-03-19
    soldstatus $145,000 Sold 376-char remark

    Show marketing remark (376 chars)

    Water view! Immaculate large 2 Bedroom with fully furnished rooms in showroom condition! This is a stunning condo with an astounding low price under 200k. The amenities at Colonial Country Club are remarkable with golf, multiple pools, tennis courts, and pristine walking boardwalks thru the tall peaceful pine trees. Please do not miss this unique home or vacationers dream.

17. 2015-02-16
    status Pending 376-char remark

    Show marketing remark (376 chars)

    Water view! Immaculate large 2 Bedroom with fully furnished rooms in showroom condition! This is a stunning condo with an astounding low price under 200k. The amenities at Colonial Country Club are remarkable with golf, multiple pools, tennis courts, and pristine walking boardwalks thru the tall peaceful pine trees. Please do not miss this unique home or vacationers dream.

18. 2015-02-12
    listed $159,000 Active 376-char remark

    Show marketing remark (376 chars)

    Water view! Immaculate large 2 Bedroom with fully furnished rooms in showroom condition! This is a stunning condo with an astounding low price under 200k. The amenities at Colonial Country Club are remarkable with golf, multiple pools, tennis courts, and pristine walking boardwalks thru the tall peaceful pine trees. Please do not miss this unique home or vacationers dream.

19. 2005-03-04
    soldstatus $194,500 469-char remark

    Show marketing remark (469 chars)

    Brand New - never lived in Garden Lakes Condo at Colonial Country Club. Very popular Heather floor plan, 2nd floor with view of lake and treed area. Eastern exposure on lanai. Beautiful gated community - social membership included. - pools, tennis courts, fitness center, clubhouse, walking trails. Upgrades include 18 neutral tile, berber carpet, smooth top stove. Close to neighborhood pool and cabana. Why wait to build - ready for immediate occupancy. Easy to Show.

ⓘ 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: $3,558 · $296/mo
• Projected year-2 tax: $3,558 · $296/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,180
• − Mortgage interest: −$13,388
• − Property taxes: −$3,558
• − Insurance: −$6,314
• − Repairs & maintenance: −$4,254
• − Management: −$4,254
• − HOA: −$10,536
• − Depreciation: −$6,953
• Taxable income: $3,924
• Est. tax owed @ 24.0%: −$942
• After-tax cash flow: $5,623/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

+22.9% since first listed

9 events — show timeline

• 2026-05-01 Price Changed $239,000 BEARMLS
• 2026-02-03 Listed $250,000 BEARMLS
• 2015-04-01 Price Changed $145,000 FORTMLS
• 2015-03-25 Sold (Public Records) $145,000 Public Records
• 2015-03-19 Sold (MLS) $145,000 FORTMLS
• 2015-03-19 Price Changed $159,000 FORTMLS
• 2015-02-16 Pending — FORTMLS
• 2015-02-12 Listed $159,000 FORTMLS
• 2005-03-04 Sold (MLS) $194,500 FORTMLS

Property tax history

+1.5%/yr

Latest (2025): $3,558 · -8.6% YoY. Source: county tax records.