255 Periwinkle Way Unit 7-A · Sanibel, FL 33957

$777,000

2 bd · 2.0 ba · 966 sqft · Condo public records · 56 Days on market

Built 1996 $2516/mo HOA · 24% 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 +19.7/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing Gulf views from this spacious and updated 2 bedroom condo located on the east end of Sanibel within walking distance to shops, restaurants, and the lighthouse. The condo and the complex has been very nicely maintained including a newer roof, and A/C. Amenities at the complex include pool and spa, tennis court, shuffleboard, a clubhouse with a game room, sauna, and more! Excellent income generator - 2013 Rental income was $34,484.

Key facts

• Covered parking
• Community amenities
• Screened porch

Tags

• GULF FRONT
• IMPACT WINDOWS AND DOORS
• SCREENED PORCH
• BEACH ACCESS
• COMMUNITY AMENITIES
• COVERED PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $777k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $777k).
• Recommended offer: $754k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.8% 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: schools A+, 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.
• Market conditions: 526 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $23k 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 56 days — a 3% lower offer ($754k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $72k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $597k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo; HOA is 24% of rent.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $753,690 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.35% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.9%
• Equity multiple: 0.50×
• Total profit: $-108,736
• Equity at exit: $115,853

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-67,557
• Equity at exit: $67,181

Cash invested: $217,560 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $10,500 medium
• Mortgage (P&I): −$4,075
• Tax from tax record: −$470 /mo · $5,644/yr
• Insurance: −$324
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$2,516
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $241

Break-even live

Break-even rent $10,195

Max offer price $777,000

Occupancy floor 93%

Sensitivity live

Price	-10% $681	-5% $461	+0% $241	+5% $21	+10% $-199
Rent	-10% $-588	-5% $-174	+0% $241	+5% $656	+10% $1,071
Rate	-1.0pp $633	-0.5pp $439	base $241	+0.5pp $40	+1.0pp $-165

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: $194,250
• Closing costs: $23,310
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	24d	1	1.10mi

HOA detail condo

• Monthly dues: $2,516 · $30,192/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-20
   status Pending
2. 2026-04-11
   price $777,000
3. 2026-03-26
   price $799,000
4. 2026-02-23
   listed $849,000 Active
5. 2014-09-23
   soldstatus $597,000
6. 2014-09-17
   soldstatus $597,000 441-char remark

   Show marketing remark (441 chars)

   Amazing Gulf views from this spacious and updated 2 bedroom condo located on the east end of Sanibel within walking distance to shops, restaurants, and the lighthouse. The condo and the complex has been very nicely maintained including a newer roof, and A/C. Amenities at the complex include pool and spa, tennis court, shuffleboard, a clubhouse with a game room, sauna, and more! Excellent income generator - 2013 Rental income was $34,484.

7. 2014-09-17
   price $668,500 441-char remark

   Show marketing remark (441 chars)

   Amazing Gulf views from this spacious and updated 2 bedroom condo located on the east end of Sanibel within walking distance to shops, restaurants, and the lighthouse. The condo and the complex has been very nicely maintained including a newer roof, and A/C. Amenities at the complex include pool and spa, tennis court, shuffleboard, a clubhouse with a game room, sauna, and more! Excellent income generator - 2013 Rental income was $34,484.

8. 2014-04-16
   listed $597,000 441-char remark

   Show marketing remark (441 chars)

   Amazing Gulf views from this spacious and updated 2 bedroom condo located on the east end of Sanibel within walking distance to shops, restaurants, and the lighthouse. The condo and the complex has been very nicely maintained including a newer roof, and A/C. Amenities at the complex include pool and spa, tennis court, shuffleboard, a clubhouse with a game room, sauna, and more! Excellent income generator - 2013 Rental income was $34,484.

9. 2010-09-03
   price $649,999 649-char remark

   Show marketing remark (649 chars)

   Wonderful gulf front unit in one of Sanibel's newest condominium complexes. Built in 1996, this 2 bedroom, 2 bath condo is beautifully furnished and has terrific views of the Gulf of Mexico. Very large pool and tennis courts on site. Close walk to the fishing pier and lighthouse as well as the shops and restaurants on East Periwinkle Way. Terrific rental income - grosses close to $50,000 annually. When looking for a Sanibel Gulf front condo - this one is a must see! 9 foot ceilings and all concrete construction. Living area sq. ft. is taken from tax rolls and considered accurate but not warranted. Buyer is responsible for verifying accuracy.

10. 2010-09-02
    soldstatus $585,000 649-char remark

    Show marketing remark (649 chars)

    Wonderful gulf front unit in one of Sanibel's newest condominium complexes. Built in 1996, this 2 bedroom, 2 bath condo is beautifully furnished and has terrific views of the Gulf of Mexico. Very large pool and tennis courts on site. Close walk to the fishing pier and lighthouse as well as the shops and restaurants on East Periwinkle Way. Terrific rental income - grosses close to $50,000 annually. When looking for a Sanibel Gulf front condo - this one is a must see! 9 foot ceilings and all concrete construction. Living area sq. ft. is taken from tax rolls and considered accurate but not warranted. Buyer is responsible for verifying accuracy.

11. 2010-09-02
    soldstatus $585,000

    Show marketing remark (649 chars)

    Wonderful gulf front unit in one of Sanibel's newest condominium complexes. Built in 1996, this 2 bedroom, 2 bath condo is beautifully furnished and has terrific views of the Gulf of Mexico. Very large pool and tennis courts on site. Close walk to the fishing pier and lighthouse as well as the shops and restaurants on East Periwinkle Way. Terrific rental income - grosses close to $50,000 annually. When looking for a Sanibel Gulf front condo - this one is a must see! 9 foot ceilings and all concrete construction. Living area sq. ft. is taken from tax rolls and considered accurate but not warranted. Buyer is responsible for verifying accuracy.

ⓘ 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: $5,644 · $470/mo
• Projected year-2 tax: $6,449 · $537/mo
• Expected delta: +$805/yr (+$67/mo · 14.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 26 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: $126,000
• − Mortgage interest: −$43,524
• − Property taxes: −$5,644
• − Insurance: −$11,913
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$30,192
• − Depreciation: −$22,604
• Taxable loss: −$8,037
• Est. tax savings @ 24.0%: +$1,929
• After-tax cash flow: $4,824/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 — 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
• City population: 6,402
• Population (ZIP): 6,402

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 (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%

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

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

+32.8% since first listed

11 events — show timeline

• 2026-04-20 Pending — FORTMLS
• 2026-04-11 Price Changed $777,000 FORTMLS
• 2026-03-26 Price Changed $799,000 FORTMLS
• 2026-02-23 Listed $849,000 FORTMLS
• 2014-09-23 Sold (Public Records) $597,000 Public Records
• 2014-09-17 Price Changed $668,500 FORTMLS
• 2014-09-17 Sold (MLS) $597,000 FORTMLS
• 2014-04-16 Listed $597,000 FORTMLS
• 2010-09-03 Price Changed $649,999 FORTMLS
• 2010-09-02 Sold (Public Records) $585,000 Public Records
• 2010-09-02 Sold (MLS) $585,000 FORTMLS

Property tax history

-2.7%/yr

Latest (2025): $5,644 · -2.7% YoY. Source: county tax records.