9627 Eaton Gardens Ln #101 · Cypress Lake, FL 33919

$115,000

1 bd · 2.0 ba · 780 sqft · Condo public records · 55 Days on market

Built 1991 $575/mo HOA · 28% 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 +27.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +0.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely Maintained Community With Club Room, Pool And Tennis, Insidewasher /Dryer. Conveniently Lcoated Just North Of Health Park In Southft. Myers, Close To Sanibel And The Beaches, Just Minutes To 41 Andgladiolus, Easy To Show. Leave Message With Lo Or La And Go.

Key facts

• Pantry
• Water heater
• Outdoor space

Tags

• NEW AC
• STACKABLE WASHER AND DRYER
• WATER HEATER
• SOLID SURFACE COUNTERS
• PANTRY
• OUTDOOR SPACE

Property features AI

Finance

• Other: Community pool
• Financial info: Pets allowed conditionally (call), maximum 1 pet up to 25 lbs
• HOA & community: Homeowners association with monthly fee; HOA fee covers insurance, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, sewer, trash and water; Community amenities include clubhouse, barbecue/picnic area, pool, tennis courts, pickleball, shuffleboard, and on-site management; Community of 80 units; Non-gated community

Exterior

• Parking: Attached carport (1 covered space)
• Utilities: Cable available; Public water (assessment paid); Public sewer (assessment paid)
• Home design: Two-story property; Entry level 1; Faces west; East exposure on lot
• Construction: Block, concrete and stucco construction; Shingle roof; Zero lot line
• Exterior features: Lanai; Porch; Screened patio/porch; Storage

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Freezer
• Bedrooms: Entry level 1
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Living/dining room; Pantry; Shower only with separate shower; High speed internet; Single-hung windows; Furnishing negotiable; Screened porch
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (12.9% below list).
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $100k (12.9% below list) — sets the bar for cash-flow.
• Cap rate 9.9% vs local median 1.7% in Cypress Lake — 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 75/100 on livability (#257 in FL, #4,125 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents falling (-7.8%/yr); 628 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 30% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 55 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $69k; list at $115k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 28% of rent.
• 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,159 (12.9% 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 55 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.76% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.77%
• DSCR: 1.57
• GRM: 4.7

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: -28.9%
• Equity multiple: 0.09×
• Total profit: $-29,342
• Equity at exit: $17,147

10-year hold

• IRR: -85.9%
• Equity multiple: -0.65×
• Total profit: $-53,029
• Equity at exit: $9,943

Cash invested: $32,200 (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 33919

• Rents YoY: -7.8%
• Active inventory: 628
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,025 high
• Mortgage (P&I): −$603
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$48
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$575
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-84

Break-even live

Break-even rent $2,131

Max offer price $100,159

Occupancy floor 99%

Sensitivity live

Price	-10% $-19	-5% $-51	+0% $-84	+5% $-117	+10% $-149
Rent	-10% $-244	-5% $-164	+0% $-84	+5% $-4	+10% $76
Rate	-1.0pp $-26	-0.5pp $-55	base $-84	+0.5pp $-114	+1.0pp $-144

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9627 Eaton Gardens Ln #104 Fort Myers, FL	2.0	2.0	1121	$3,199	$2.85	25d	1	0.03mi
14980 Vista View Way #207 Fort Myers, FL	2.0	2.0	1124	$1,875	$1.67	3d	1	0.36mi
14980 Vista View Way #207 Fort Myers, FL	2.0	2.0	1124	$1,875	$1.67	4d	1	0.36mi
14970 Vista View Way Unit 303B Fort Myers, FL	2.0	2.0	1124	$2,000	$1.78	25d	1	0.37mi
14970 Vista View Way #303 Fort Myers, FL	2.0	2.0	1124	$1,750	$1.56	25d	1	0.37mi
14501 Daffodil Dr #1207 Fort Myers, FL	2.0	2.0	1124	$1,850	$1.65	25d	1	0.64mi
15250 Sonoma Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1252	$1,410	$1.13	5d	31	0.94mi
10770 Clear Lake Loop Fort Myers, FL	2.0–4.0	1.0–2.0	1108	$1,440	$1.30	25d	14	1.21mi
1316 Sandtrap Dr Fort Myers, FL	2.0	2.0	1120	$1,550	$1.38	25d	1	1.22mi
14771 Hole IN 1 Cir Fort Myers, FL	2.0	2.0	1019	$3,125	$3.07	5d	2	1.23mi
14771 Hole IN 1 Cir Fort Myers, FL	2.0	2.0	1019	$3,125	$3.07	25d	2	1.23mi
14751 Hole IN 1 Cir #205 Fort Myers, FL	2.0	2.0	967	$4,000	$4.14	23d	1	1.25mi
6815 Sandtrap Dr #117 Fort Myers, FL	2.0	2.0	1023	$1,700	$1.66	5d	1	1.25mi
9601 Bay Harbor Cir Fort Myers, FL	1.0–3.0	1.0–2.0	1234	$1,430	$1.16	4d	18	1.26mi
13780 Julias Way Fort Myers, FL	2.0	2.0	1125	$2,748	$2.44	25d	2	1.28mi
13780 Julias Way Fort Myers, FL	2.0	2.0	1125	$2,748	$2.44	21d	2	1.28mi
8534 Charter Club Cir #8 Fort Myers, FL	2.0	2.0	825	$3,000	$3.64	25d	1	1.33mi
14941 Hole IN 1 Cir #303 Fort Myers, FL	2.0	2.0	1060	$2,300	$2.17	25d	1	1.36mi
6753a Lake McGregor Cir Unit 1 Fort Myers, FL	2.0	2.0	846	$1,425	$1.68	25d	1	1.37mi
8445 Charter Club Cir #11 Fort Myers, FL	2.0	2.0	1036	$2,050	$1.98	25d	1	1.44mi
14931 Park Lake Dr #105 Fort Myers, FL	1.0	2.0	920	$1,575	$1.71	5d	1	1.45mi
14931 Park Lake Dr #105 Fort Myers, FL	1.0	2.0	920	$1,575	$1.71	18d	1	1.45mi
15270 Ballast Point Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1094	$1,216	$1.11	3d	20	1.46mi
8148 Country Rd #101 Fort Myers, FL	1.0	1.0	562	$1,275	$2.27	21d	1	1.46mi
13661 Julias Way #1323 Fort Myers, FL	2.0	2.0	1125	$1,545	$1.37	25d	1	1.46mi
6777 Winkler Rd #174 Fort Myers, FL	2.0	1.0	972	$1,395	$1.44	15d	1	1.47mi
14831 Park Lake Dr #207 Fort Myers, FL	2.0	2.0	1011	$1,600	$1.58	13d	1	1.48mi
6777 Winkler Rd #168 Fort Myers, FL	1.0	1.0	679	$1,200	$1.77	5d	1	1.49mi
8715 Charter Club Cir #4 Fort Myers, FL	2.0	2.0	825	$1,695	$2.05	25d	1	1.49mi

HOA detail condo

• Monthly dues: $575 · $6,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-22
   days on market $115,000 Active 55 DOM
2. 2026-06-17
   days on market $115,000 Active 51 DOM
3. 2026-06-16
   days on market $115,000 Active 50 DOM
4. 2026-06-15
   days on market $115,000 Active 49 DOM
5. 2026-06-13
   days on market $115,000 Active 47 DOM
6. 2026-06-10
   days on market $115,000 Active 44 DOM
7. 2026-06-09
   days on market $115,000 Active 43 DOM
8. 2026-06-08
   days on market $115,000 Active 42 DOM
9. 2026-06-07
   days on market $115,000 Active 41 DOM
10. 2026-06-03
    days on market $115,000 Active 37 DOM
11. 2026-06-02
    days on market $115,000 Active 36 DOM
12. 2026-06-01
    days on market $115,000 Active 35 DOM
13. 2026-05-31
    days on market $115,000 Active 34 DOM
14. 2026-04-27
    listed $115,000 Active
15. 2003-01-04
    soldstatus $69,000
16. 2002-12-20
    soldstatus $69,000 265-char remark

    Show marketing remark (265 chars)

    Nicely Maintained Community With Club Room, Pool And Tennis, Insidewasher /Dryer. Conveniently Lcoated Just North Of Health Park In Southft. Myers, Close To Sanibel And The Beaches, Just Minutes To 41 Andgladiolus, Easy To Show. Leave Message With Lo Or La And Go.

17. 1997-08-21
    soldstatus $55,000
18. 1989-06-01
    soldstatus $49,500

ⓘ 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: $372 · $31/mo
• Projected year-2 tax: $954 · $80/mo
• Expected delta: +$582/yr (+$49/mo · 156.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $24,297
• − Mortgage interest: −$6,442
• − Property taxes: −$372
• − Insurance: −$5,694
• − Repairs & maintenance: −$1,944
• − Management: −$1,944
• − HOA: −$6,900
• − Depreciation: −$3,345
• Taxable loss: −$2,344
• Est. tax savings @ 24.0%: +$562
• After-tax cash flow: $-446/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 — Cypress Lake

• Score: 75/100
• State rank: #257
• US rank: #4125

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment C Housing A+ Health & safety A User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• City population: 30,300
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 30,412
• Household income: $80,451
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 762.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 3% Slovak 2% Scotch-Irish 2%
• Foreign-born: 10% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 5% German/W. Germanic 2% 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: ▼ -220.59%
• Current HPI: 237.5227
• Rent YoY: ▼ -7.85%
• 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

+132.3% since first listed

5 events — show timeline

• 2026-04-27 Listed $115,000 FORTMLS
• 2003-01-04 Sold (Public Records) $69,000 Public Records
• 2002-12-20 Sold (MLS) $69,000 FORTMLS
• 1997-08-21 Sold (Public Records) $55,000 Public Records
• 1989-06-01 Sold (Public Records) $49,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $372 · +2.4% YoY. Source: county tax records.