760 Sextant Dr #321 · Sanibel, FL 33957

$799,999

2 bd · 2.0 ba · 1,218 sqft · Condo public records · 330 Days on market

Built 1973 $1397/mo HOA · 13% 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 +22.7/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 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

Experience coastal living in this sophisticated renovated 3-bedroom, 2-bath condominium located on the desirable lower level, just steps from the pool. Thoughtfully redesigned with elegant coastal aesthetic, this spacious condo is offered fully furnished for effortless move-in. Enjoy tranquil water peeks from the living area and wake up to sweeping views of the bay and bridge from the beautifully appointed primary suite. Boating enthusiasts will appreciate the dedicated dock along with a private kayak and canoe lift for endless days on the water. The community offers an array of upscale amenities including tennis and pickleball courts, outdoor grilling areas perfect for entertaining, and ea

Key facts

• Dedicated dock
• Lower level
• Tranquil water peeks

Tags

• RENOVATED CONDOMINIUM
• LOWER LEVEL
• STEPS FROM THE POOL
• TRANQUIL WATER PEEKS
• SWEEPING VIEWS
• DEDICATED DOCK

Property features AI

Finance

• Other: Pets allowed with approval (conditional)
• HOA & community: Quarterly association fee; Association covers management, cable TV, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, reserves, road maintenance, sewer, trash and water; Community amenities include beach rights and access, boat dock, boat ramp, pier, barbecue/picnic area, pool, tennis and pickleball courts, shuffleboard, and management; Condo hotel community with boat facilities; near hotel/motel

Exterior

• Parking: Assigned parking (one space)
• Security: Security/high-impact doors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story; Entry at level 1; Northeast-facing; Resale property
• Construction: Block, concrete and stucco construction; Metal roof; Built with a foundation typical for the area
• Exterior features: Courtyard; Security/high-impact doors; Paved road access; Rectangular lot; Bay-front and canal access waterfront; Southwest exposure; Private in-ground pool (community)

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator; Freezer; Disposal
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Impact-resistant windows; Furnished; Kitchen island; Open living/dining area; Main-level primary bedroom; Shower-only primary bath with separate shower; High-speed internet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $800k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $800k).
• Recommended offer: $704k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 $6k of loan paydown is wiped out by about $24k 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 330 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask is 5233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $527k; list at $800k implies a 52% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $703,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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: 1.31% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.34%
• DSCR: 1.33
• GRM: 6.3

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: -8.3%
• Equity multiple: 0.70×
• Total profit: $-68,305
• Equity at exit: $119,282

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $23,042
• Equity at exit: $69,169

Cash invested: $224,000 (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: 6.3×

Monthly cashflow live

• Estimated rent: $10,500 medium
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,397
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $943

Break-even live

Break-even rent $9,307

Max offer price $799,999

Occupancy floor 86%

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: $200,000
• Closing costs: $24,000
• 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	23d	1	0.76mi

HOA detail condo

• Monthly dues: $1,397 · $16,764/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-17
   days on market $799,999 Active 330 DOM
2. 2026-06-16
   days on market $799,999 Active 329 DOM
3. 2026-06-16
   days on market $799,999 Active 328 DOM
4. 2026-06-13
   days on market $799,999 Active 326 DOM
5. 2026-06-09
   days on market $799,999 Active 322 DOM
6. 2026-06-07
   days on market $799,999 Active 320 DOM
7. 2026-06-02
   days on market $799,999 Active 315 DOM
8. 2026-06-01
   days on market $799,999 Active 314 DOM
9. 2026-06-01
   days on market $799,999 Active 313 DOM
10. 2026-04-21
    listed $15,000
11. 2026-02-12
    price $799,999
12. 2026-02-12
    price $799,000
13. 2025-07-07
    listed $899,000 Active
14. 2025-05-31
    historical
15. 2024-08-28
    listed $899,000 Active
16. 2024-07-15
    historical
17. 2024-01-15
    listed $999,000 Active
18. 2020-02-03
    soldstatus $526,700
19. 2020-01-31
    soldstatus $526,670 Closed
20. 2019-12-31
    status Pending
21. 2019-07-30
    price $569,000
22. 2019-03-30
    price $579,000
23. 2019-03-29
    listed $5 Active
24. 2010-04-09
    soldstatus $470,600
25. 2010-04-09
    soldstatus $470,600
26. 2010-03-03
    price $509,000
27. 2001-08-28
    soldstatus $485,000
28. 1990-11-01
    soldstatus $212,800
29. 1988-06-16
    soldstatus $172,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥113°F today · 25 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: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$9,118
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$16,764
• − Depreciation: −$23,273
• Taxable loss: −$128
• Est. tax savings @ 24.0%: +$31
• After-tax cash flow: $11,345/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

-91.3% since first listed

20 events — show timeline

• 2026-04-21 Listed for Rent $15,000 FORTMLS
• 2026-02-12 Price Changed $799,999 FORTMLS
• 2026-02-12 Price Changed $799,000 FORTMLS
• 2025-07-07 Listed $899,000 FORTMLS
• 2025-05-31 Listing Removed — FORTMLS
• 2024-08-28 Listed $899,000 FORTMLS
• 2024-07-15 Listing Removed — FORTMLS
• 2024-01-15 Listed $999,000 FORTMLS
• 2020-02-03 Sold (Public Records) $526,700 Public Records
• 2020-01-31 Sold (MLS) $526,670 FORTMLS
• 2019-12-31 Pending — FORTMLS
• 2019-07-30 Price Changed $569,000 FORTMLS
• 2019-03-30 Price Changed $579,000 FORTMLS
• 2019-03-29 Listed $5 FORTMLS
• 2010-04-09 Sold (Public Records) $470,600 Public Records
• 2010-04-09 Sold (MLS) $470,600 FORTMLS
• 2010-03-03 Price Changed $509,000 FORTMLS
• 2001-08-28 Sold (Public Records) $485,000 Public Records
• 1990-11-01 Sold (Public Records) $212,800 Public Records
• 1988-06-16 Sold (Public Records) $172,000 Public Records

Property tax history

-13.6%/yr

Latest (2025): $1,034 · -0.4% YoY. Source: county tax records.