2616 NW 2nd Ave · Cape Coral, FL 33993

$299,990

3 bd · 2.0 ba · 1,400 sqft · Land · 48 Days on market

Built 2026 10,410 sqft lot

---

Why this score? — see what drove the D- 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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Vacant Lot for Sale in Beautiful Cape Coral! Discover the perfect canvas for your dream home or investment project in beautiful Cape Coral! This double lot, located in one of Florida's fastest-growing cities, offers endless possibilities.

Key facts

• Open floor plan
• Kitchen island
• Private bathroom

Tags

• OPEN FLOOR PLAN
• UPGRADED CABINETS
• KITCHEN ISLAND
• TILE-PLANK FLOORING
• VAULTED CEILINGS
• PRIVATE BATHROOM

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee listed

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 covered parking spaces
• Security: High impact doors
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story home; Entry level: 1; Faces east; Currently under construction
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Open porch; Security/high impact doors; Rectangular lot; West exposure

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Pantry
• Bedrooms: Bedrooms arranged with split bedroom floorplan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: High ceilings; Family/dining room; Living/dining room; Pantry; Cable TV; Walk-in closet(s); Split bedrooms; Unfurnished; Single hung windows; Impact glass windows
• Laundry & utility: Washer; Dryer; Laundry room inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $300k.

Deal economics

• At list price, monthly cash flow is $-81 ($-969/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (28.3% below list).
• Recommended offer: $215k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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: Gulf Elementary School (math 70% / reading 65%, grade B+, #435 of 2,144 statewide, top 21%, 1,231 students, 38% FRL); Challenger Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,124 students, 50% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL) — zoned schools average 42% FRL vs 57% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents falling (-5.5%/yr); 2671 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $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 48 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $40k; list at $300k implies a 650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,142 (28.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.72% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.28×
• Total profit: $-60,207
• Equity at exit: $44,729

10-year hold

• IRR: -22.2%
• Equity multiple: -0.00×
• Total profit: $-84,016
• Equity at exit: $25,938

Cash invested: $83,997 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2671
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$82 /mo · $986/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-81

Break-even live

Break-even rent $2,254

Max offer price $285,723

Occupancy floor 99%

Sensitivity live

Price	-10% $89	-5% $4	+0% $-81	+5% $-166	+10% $-251
Rent	-10% $-251	-5% $-166	+0% $-81	+5% $4	+10% $89
Rate	-1.0pp $70	-0.5pp $-4	base $-81	+0.5pp $-158	+1.0pp $-238

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: $74,998
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2616 NW 1st Pl Cape Coral, FL	4.0	2.0	1829	$1,946	$1.06	23d	1	0.07mi
221 NW 25th St Cape Coral, FL	3.0	2.0	1407	$1,780	$1.27	25d	1	0.15mi
36 NW 26th St Cape Coral, FL	3.0	2.0	1270	$1,990	$1.57	5d	1	0.18mi
101 NW 25th St Cape Coral, FL	4.0	2.0	1613	$1,900	$1.18	5d	1	0.22mi
324 NW 24th Ter Cape Coral, FL	3.0	2.0	1499	$2,500	$1.67	5d	1	0.29mi
2919 NW 4th Pl Cape Coral, FL	4.0	2.0	1639	$1,926	$1.18	5d	1	0.43mi
501 NW 26th Ter Cape Coral, FL	3.0	2.0	1465	$2,200	$1.50	16d	1	0.45mi
2227 NW 3rd Pl Cape Coral, FL	3.0	3.0	1771	$1,999	$1.13	16d	1	0.45mi
2227 NW 3rd Pl Cape Coral, FL	3.0	2.5	1771	$1,799	$1.02	25d	1	0.45mi
2936 NW 4th Pl Cape Coral, FL	4.0	2.0	1769	$1,895	$1.07	25d	1	0.50mi
2524 NE 1st Pl Cape Coral, FL	4.0	3.0	1683	$2,250	$1.34	25d	1	0.50mi
609 NW 25th St Cape Coral, FL	4.0	2.0	1556	$2,000	$1.29	5d	1	0.51mi
520 NW 23rd Ter Cape Coral, FL	4.0	2.0	1693	$2,350	$1.39	25d	1	0.52mi
2912 Santa Barbara Blvd N Unit 2912 Cape Coral, FL	2.0	2.0	1100	$1,550	$1.41	13d	1	0.53mi
2907 Santa Barbara Blvd N Cape Coral, FL	3.0	2.0	1209	$1,775	$1.47	12d	1	0.53mi
3024 NE 1st Ave Cape Coral, FL	4.0	2.0	1499	$1,695	$1.13	21d	1	0.71mi
3010 NE 1st Pl Cape Coral, FL	3.0	2.0	1582	$2,750	$1.74	25d	1	0.71mi
3055 NW 3rd Pl Cape Coral, FL	3.0	2.0	1184	$1,675	$1.41	5d	1	0.72mi
721 NW Douglas Cir Cape Coral, FL	3.0	2.0	1164	$1,770	$1.52	21d	1	0.73mi
2604 NW 8th Pl Cape Coral, FL	4.0	2.0	1650	$1,795	$1.09	23d	1	0.77mi
2809 NW 8th Pl Cape Coral, FL	3.0	2.0	1400	$2,400	$1.71	25d	1	0.79mi
2107 NE 1st Pl Cape Coral, FL	4.0	2.0	1760	$1,895	$1.08	3d	1	0.82mi
331 NE 25th St Cape Coral, FL	4.0	2.0	1565	$2,000	$1.28	25d	1	0.82mi
3220 NW 1st Ave Cape Coral, FL	4.0	2.0	1723	$2,250	$1.31	25d	1	0.87mi
2603 NE 4th Ave Cape Coral, FL	3.0	2.0	1356	$1,471	$1.08	5d	1	0.89mi
3229 NW 1st Ave Cape Coral, FL	4.0	2.0	1828	$1,811	$0.99	4d	1	0.91mi
2308 NW 9th Ave Cape Coral, FL	4.0	3.0	1683	$2,200	$1.31	25d	1	0.92mi
2000 NW 7th Ave Cape Coral, FL	4.0	2.0	1708	$1,950	$1.14	25d	1	0.95mi
2000 NW 7th Ave Cape Coral, FL	4.0	2.0	1708	$1,950	$1.14	16d	1	0.95mi
1913 NE Juanita Pl Cape Coral, FL	4.0	2.0	1695	$2,395	$1.41	16d	1	0.95mi
1831 NW 6th Ave Cape Coral, FL	4.0	2.0	1833	$1,795	$0.98	3d	1	0.96mi
1834 NW 6th Ave Cape Coral, FL	3.0	2.0	1200	$1,530	$1.27	23d	1	0.97mi
1834 NW 6th Ave Cape Coral, FL	3.0	2.0	1200	$1,575	$1.31	25d	1	0.97mi
2620 NE 5th Ave Cape Coral, FL	3.0	2.0	1597	$3,500	$2.19	25d	1	0.97mi
1011 Kismet Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,100	$1.18	5d	1	1.03mi
51 Wilmington Pkwy Cape Coral, FL	4.0	3.0	1681	$2,000	$1.19	25d	1	1.05mi
2103 NW 10th Ave Cape Coral, FL	3.0	2.0	1455	$2,200	$1.51	25d	1	1.13mi
1023 NW 22nd Ter Cape Coral, FL	3.0	2.0	1469	$1,831	$1.25	15d	1	1.15mi
2728 NE 6th Pl Cape Coral, FL	4.0	2.0	1760	$1,795	$1.02	3d	1	1.18mi
2024 NE 5th Ave Cape Coral, FL	4.0	2.0	1617	$1,850	$1.14	5d	1	1.18mi

Listing history 21 events

1. 2026-06-22
   days on market $299,990 Active 48 DOM
2. 2026-06-17
   pricedays on market $299,990 Active 44 DOM
3. 2026-06-16
   days on market $302,990 Active 43 DOM
4. 2026-06-15
   days on market $302,990 Active 42 DOM
5. 2026-06-13
   days on market $302,990 Active 40 DOM
6. 2026-06-10
   pricedays on market $302,990 Active 37 DOM
7. 2026-06-09
   days on market $304,990 Active 36 DOM
8. 2026-06-08
   days on market $304,990 Active 35 DOM
9. 2026-06-07
   days on market $304,990 Active 34 DOM
10. 2026-06-03
    days on market $304,990 Active 30 DOM
11. 2026-06-02
    days on market $304,990 Active 29 DOM
12. 2026-06-01
    days on market $304,990 Active 28 DOM
13. 2026-05-31
    days on market $304,990 Active 27 DOM
14. 2026-05-04
    listed $304,990 Active
15. 2024-08-21
    soldstatus $40,000 Closed 245-char remark

    Show marketing remark (245 chars)

    Prime Vacant Lot for Sale in Beautiful Cape Coral! Discover the perfect canvas for your dream home or investment project in beautiful Cape Coral! This double lot, located in one of Florida's fastest-growing cities, offers endless possibilities.

16. 2024-08-21
    soldstatus $40,000

    Show marketing remark (245 chars)

    Prime Vacant Lot for Sale in Beautiful Cape Coral! Discover the perfect canvas for your dream home or investment project in beautiful Cape Coral! This double lot, located in one of Florida's fastest-growing cities, offers endless possibilities.

17. 2024-07-31
    status Pending 245-char remark

    Show marketing remark (245 chars)

    Prime Vacant Lot for Sale in Beautiful Cape Coral! Discover the perfect canvas for your dream home or investment project in beautiful Cape Coral! This double lot, located in one of Florida's fastest-growing cities, offers endless possibilities.

18. 2024-07-31
    listed $39,900 Active 245-char remark

    Show marketing remark (245 chars)

    Prime Vacant Lot for Sale in Beautiful Cape Coral! Discover the perfect canvas for your dream home or investment project in beautiful Cape Coral! This double lot, located in one of Florida's fastest-growing cities, offers endless possibilities.

19. 2023-07-31
    historical
20. 2022-12-16
    price $49,000
21. 2022-06-29
    listed $59,000 Active

ⓘ 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: $986 · $82/mo
• Projected year-2 tax: $2,490 · $207/mo
• Expected delta: +$1,503/yr (+$125/mo · 152.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $25,817
• − Mortgage interest: −$16,804
• − Property taxes: −$986
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$8,727
• Taxable loss: −$6,331
• Est. tax savings @ 24.0%: +$1,519
• After-tax cash flow: $550/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F 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: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+416.9% since first listed

8 events — show timeline

• 2026-05-04 Listed $304,990 FORTMLS
• 2024-08-21 Sold (Public Records) $40,000 Public Records
• 2024-08-21 Sold (MLS) $40,000 FORTMLS
• 2024-07-31 Pending — FORTMLS
• 2024-07-31 Listed $39,900 FORTMLS
• 2023-07-31 Listing Removed — FORTMLS
• 2022-12-16 Price Changed $49,000 FORTMLS
• 2022-06-29 Listed $59,000 FORTMLS

Property tax history

+12.5%/yr

Latest (2025): $986 · +25.8% YoY. Source: county tax records.