979 E Gulf Dr Unit D-462 · Sanibel, FL 33957

$775,000

2 bd · 2.0 ba · 1,184 sqft · Condo public records · 69 Days on market

Built 1976 $1100/mo HOA · 10% of rent

---

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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• 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

After a day of beachcombing, play tennis or shuffleboard and lounge at the pool. Coming home to a fresh yet serene coastal blue décor is calming and soothing. Take a quick nap before enjoying beverages and dinner on the spacious screened lanai overlooking the courtyard that is situated with just enough distance from the playfulness of the pool, or head out to one of the island eateries. The east end location gives ease of access to off-island errands and quick trips to the airport. The friendly management is on-site to accommodate owners as well as provide the safety net of security for the neighborhood of owners and guests. Preparing meals and snacks in the kitchen is delightful as it has been recently remodeled with white cabinetry, quartz counters, new appliances and wide plank tile floors. New paint, carpet and furnishings have been completed for you. Loggerhead Cay is a popular beachfront community for full, part-time or investment ownership.

Key facts

• Quartz countertops
• Direct beach access
• Large heated pool

Tags

• PRIVATE SCREENED LANAI
• AMPLE STORAGE
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• DIRECT BEACH ACCESS
• LARGE HEATED POOL

Property features AI

Finance

• Financial info: Pets allowed conditionally; owners 2, renters 1; breed restrictions; maximum 2 pets, max 25 lb
• HOA & community: Has homeowners association; Monthly association fee of $1,100; Association covers management, cable TV, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, sewer, trash, and water; Community amenities include beach rights/access, clubhouse, barbecue/picnic area, pickleball, pool, shuffleboard, tennis courts, and management; Community has 168 units; Building has elevator and is non-gated

Exterior

• Parking: Assigned parking; Guest parking; Paved parking; One assigned space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condo/Multistory property with 4 total stories; Entry level: 2; Faces west; Resale condition
• Construction: Insulated concrete forms construction; Stucco exterior; Built-up and flat roof
• Exterior features: Lanai; Porch; Screened porch; Security/high impact doors; Storage; Community pool; Reclaimed water irrigation; Paved road; Zero lot line; East exposures; Beach front Gulf waterfront

Interior

• Kitchen: Range; Microwave; Refrigerator; Freezer; Dishwasher
• Bedrooms: Includes family room and screened porch among room types
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Breakfast bar; Built-in features; Tray ceiling(s); Entrance foyer; Family/Dining room; Living/Dining room; Pantry; Tub with shower; Cable TV; Window treatments; Split bedroom floor plan; Sliding windows; Impact glass windows; Window coverings; Furnished
• Laundry & utility: Washer; Dryer; Laundry located inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $775k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $775k).
• Recommended offer: $728k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 69 days — a 6% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $550k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $728,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 9.43%
• Cash-on-cash: 11.21%
• DSCR: 1.50
• 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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-22,706
• Equity at exit: $115,555

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $115,422
• Equity at exit: $67,008

Cash invested: $217,000 (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): −$4,064
• Tax from tax record: −$782 /mo · $9,378/yr
• Insurance: −$323
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,100
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $1,600

Break-even live

Break-even rent $8,475

Max offer price $775,000

Occupancy floor 80%

Sensitivity live

Price	-10% $2,039	-5% $1,819	+0% $1,600	+5% $1,380	+10% $1,161
Rent	-10% $770	-5% $1,185	+0% $1,600	+5% $2,015	+10% $2,429
Rate	-1.0pp $1,990	-0.5pp $1,797	base $1,600	+0.5pp $1,399	+1.0pp $1,195

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: $193,750
• Closing costs: $23,250
• 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	0.36mi

HOA detail condo

• Monthly dues: $1,100 · $13,200/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-17
   days on market $775,000 Active 69 DOM
2. 2026-06-16
   days on market $775,000 Active 68 DOM
3. 2026-06-15
   days on market $775,000 Active 67 DOM
4. 2026-06-13
   days on market $775,000 Active 65 DOM
5. 2026-06-10
   days on market $775,000 Active 62 DOM
6. 2026-06-09
   days on market $775,000 Active 61 DOM
7. 2026-06-07
   days on market $775,000 Active 59 DOM
8. 2026-06-03
   days on market $775,000 Active 55 DOM
9. 2026-06-02
   days on market $775,000 Active 54 DOM
10. 2026-06-01
    days on market $775,000 Active 53 DOM
11. 2026-06-01
    days on market $775,000 Active 52 DOM
12. 2026-04-23
    price $775,000
13. 2026-04-09
    listed $799,000 Active
14. 2021-01-08
    soldstatus $550,000
15. 2020-12-21
    soldstatus $550,000 Closed 968-char remark

    Show marketing remark (968 chars)

    After a day of beachcombing, play tennis or shuffleboard and lounge at the pool. Coming home to a fresh yet serene coastal blue décor is calming and soothing. Take a quick nap before enjoying beverages and dinner on the spacious screened lanai overlooking the courtyard that is situated with just enough distance from the playfulness of the pool, or head out to one of the island eateries. The east end location gives ease of access to off-island errands and quick trips to the airport. The friendly management is on-site to accommodate owners as well as provide the safety net of security for the neighborhood of owners and guests. Preparing meals and snacks in the kitchen is delightful as it has been recently remodeled with white cabinetry, quartz counters, new appliances and wide plank tile floors. New paint, carpet and furnishings have been completed for you. Loggerhead Cay is a popular beachfront community for full, part-time or investment ownership.

16. 2020-10-27
    status Pending 968-char remark

    Show marketing remark (968 chars)

    After a day of beachcombing, play tennis or shuffleboard and lounge at the pool. Coming home to a fresh yet serene coastal blue décor is calming and soothing. Take a quick nap before enjoying beverages and dinner on the spacious screened lanai overlooking the courtyard that is situated with just enough distance from the playfulness of the pool, or head out to one of the island eateries. The east end location gives ease of access to off-island errands and quick trips to the airport. The friendly management is on-site to accommodate owners as well as provide the safety net of security for the neighborhood of owners and guests. Preparing meals and snacks in the kitchen is delightful as it has been recently remodeled with white cabinetry, quartz counters, new appliances and wide plank tile floors. New paint, carpet and furnishings have been completed for you. Loggerhead Cay is a popular beachfront community for full, part-time or investment ownership.

17. 2020-09-28
    listed $579,000 Active 968-char remark

    Show marketing remark (968 chars)

    After a day of beachcombing, play tennis or shuffleboard and lounge at the pool. Coming home to a fresh yet serene coastal blue décor is calming and soothing. Take a quick nap before enjoying beverages and dinner on the spacious screened lanai overlooking the courtyard that is situated with just enough distance from the playfulness of the pool, or head out to one of the island eateries. The east end location gives ease of access to off-island errands and quick trips to the airport. The friendly management is on-site to accommodate owners as well as provide the safety net of security for the neighborhood of owners and guests. Preparing meals and snacks in the kitchen is delightful as it has been recently remodeled with white cabinetry, quartz counters, new appliances and wide plank tile floors. New paint, carpet and furnishings have been completed for you. Loggerhead Cay is a popular beachfront community for full, part-time or investment ownership.

18. 2016-10-04
    soldstatus $505,000
19. 2016-09-30
    price $505,000 597-char remark

    Show marketing remark (597 chars)

    Well appointed 2 bedroom condo in one of Sanibel's most popular family condominium complexes. 2nd floor location for privacy and situated back from the pool for quiet times when relaxing on the lanai. The shell strewn beach is just steps from your front door. Loggerhead Cay offers pool, tennis, bbq grills and on site management. Fully furnished, new living room furniture and new air handler. Storage locker just steps away with room for beach gear and bikes. Well maintained by the current owner for their personal use only. Ready for your family or for a solid investment as a vacation rental.

20. 2016-09-30
    soldstatus $505,000 Sold 597-char remark

    Show marketing remark (597 chars)

    Well appointed 2 bedroom condo in one of Sanibel's most popular family condominium complexes. 2nd floor location for privacy and situated back from the pool for quiet times when relaxing on the lanai. The shell strewn beach is just steps from your front door. Loggerhead Cay offers pool, tennis, bbq grills and on site management. Fully furnished, new living room furniture and new air handler. Storage locker just steps away with room for beach gear and bikes. Well maintained by the current owner for their personal use only. Ready for your family or for a solid investment as a vacation rental.

21. 2016-09-25
    price $539,000 597-char remark

    Show marketing remark (597 chars)

    Well appointed 2 bedroom condo in one of Sanibel's most popular family condominium complexes. 2nd floor location for privacy and situated back from the pool for quiet times when relaxing on the lanai. The shell strewn beach is just steps from your front door. Loggerhead Cay offers pool, tennis, bbq grills and on site management. Fully furnished, new living room furniture and new air handler. Storage locker just steps away with room for beach gear and bikes. Well maintained by the current owner for their personal use only. Ready for your family or for a solid investment as a vacation rental.

22. 2016-08-31
    status Pending With Contingencies 597-char remark

    Show marketing remark (597 chars)

    Well appointed 2 bedroom condo in one of Sanibel's most popular family condominium complexes. 2nd floor location for privacy and situated back from the pool for quiet times when relaxing on the lanai. The shell strewn beach is just steps from your front door. Loggerhead Cay offers pool, tennis, bbq grills and on site management. Fully furnished, new living room furniture and new air handler. Storage locker just steps away with room for beach gear and bikes. Well maintained by the current owner for their personal use only. Ready for your family or for a solid investment as a vacation rental.

23. 2016-06-21
    listed $539,000 Active 597-char remark

    Show marketing remark (597 chars)

    Well appointed 2 bedroom condo in one of Sanibel's most popular family condominium complexes. 2nd floor location for privacy and situated back from the pool for quiet times when relaxing on the lanai. The shell strewn beach is just steps from your front door. Loggerhead Cay offers pool, tennis, bbq grills and on site management. Fully furnished, new living room furniture and new air handler. Storage locker just steps away with room for beach gear and bikes. Well maintained by the current owner for their personal use only. Ready for your family or for a solid investment as a vacation rental.

24. 2013-11-21
    soldstatus $470,000
25. 1976-07-01
    soldstatus $52,500

ⓘ 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: $9,378 · $782/mo
• Projected year-2 tax: $9,378 · $782/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 27 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: −$43,412
• − Property taxes: −$9,378
• − Insurance: −$8,994
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$13,200
• − Depreciation: −$22,545
• Taxable income: $8,311
• Est. tax owed @ 24.0%: −$1,995
• After-tax cash flow: $17,204/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

+1376.2% since first listed

14 events — show timeline

• 2026-04-23 Price Changed $775,000 FORTMLS
• 2026-04-09 Listed $799,000 FORTMLS
• 2021-01-08 Sold (Public Records) $550,000 Public Records
• 2020-12-21 Sold (MLS) $550,000 FORTMLS
• 2020-10-27 Pending — FORTMLS
• 2020-09-28 Listed $579,000 FORTMLS
• 2016-10-04 Sold (Public Records) $505,000 Public Records
• 2016-09-30 Price Changed $505,000 FORTMLS
• 2016-09-30 Sold (MLS) $505,000 FORTMLS
• 2016-09-25 Price Changed $539,000 FORTMLS
• 2016-08-31 Pending — FORTMLS
• 2016-06-21 Listed $539,000 FORTMLS
• 2013-11-21 Sold (Public Records) $470,000 Public Records
• 1976-07-01 Sold (Public Records) $52,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $9,378 · +1232.2% YoY. Source: county tax records.