11015 Mill Creek Way #1108 · Fort Myers, FL 33913

$317,000

2 bd · 2.0 ba · 1,656 sqft · Condo public records · 207 Days on market

Built 2004 $765/mo HOA · 17% 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 +22.5/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rarely available Spoonbill corner unit. This 2 bedroom plus den unit has everything you need to move right in (it comes totally furnished). Enjoy a game of billiards while entertaining on your large lanai watching the sunset. The owner has kept up with the maintenance of the unit by replacing the garbage disposal (2023), HVAC (2021), microwave (2020) and the other appliances have all been replaced. This unit was just freshly painted and the grout has been cleaned. There is a social membership that comes with this unit that includes all the amenities PLUS you can pay as you play golf. And amenities are many including many tennis and pickle ball courts, pools throughout the community, a great bar/restaurant with a great view of the golf course. The gym has state of the art equipment and there is an exercise room for floor exercises like Yoga or Zumba. There's so much to love here you're probably going to want to move in full-time. Come see what everyone is talking about.

Key facts

• Clubhouse
• Attached garage
• Open den

Tags

• SECOND FLOOR COACH HOME
• TURNKEY RESIDENCE
• OPEN DEN
• ATTACHED GARAGE
• CLUBHOUSE

Property features AI

Finance

• Financial info: Pets allowed (call/conditional)
• HOA & community: Homeowners association with annual fees; Association covers cable TV, insurance, irrigation water, grounds maintenance, pest control, reserve fund, road maintenance, security and water; Association amenities include clubhouse, concierge, fitness center, golf course, library, private membership options, putting greens, restaurant, racquetball, spa/hot tub, trails and management; Community features: golf, gated, street lights

Exterior

• Parking: Attached 1-car garage; Driveway parking; Paved parking; Garage door opener
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Cable available; High speed internet available
• Home design: 2-story property; Entry level: 2; Resale property; Faces southeast
• Construction: Block, concrete and stucco construction; Tile roof
• Exterior features: Lanai; Screened porch; Porch; Shutters (manual); Pond on lot; Zero lot line; Private road frontage; Private maintained road; Northwest exposure; Has view

Interior

• Kitchen: Range; Self-cleaning oven; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Pantry
• Bedrooms: Includes den and guest quarters; Split bedroom layout
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Dual sinks in primary bath; Separate shower (no tub)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Built-in features; Breakfast area; Separate/formal dining room; Entrance foyer; High ceilings; Pantry; Split bedrooms; Dual sinks; Separate shower; Shower only; Cable TV; High speed internet; Jalousie windows; Furnished
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $317k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $317k).
• Recommended offer: $279k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.0% in Fort Myers — 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Rents flat; 811 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,517/mo this rent would consume 49% of the median local household income ($110k/yr) (locally 276% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 207 days — a 12% lower offer ($279k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask is 5881% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $278,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.42% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.38×
• Total profit: $-55,316
• Equity at exit: $47,266

10-year hold

• IRR: -21.9%
• Equity multiple: 0.08×
• Total profit: $-81,242
• Equity at exit: $27,408

Cash invested: $88,760 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $4,517 high
• Mortgage (P&I): −$1,662
• Tax from tax record: −$475 /mo · $5,698/yr
• Insurance: −$132
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$765
• Vacancy / Maint / Mgmt: −$949
• Net cashflow: $108

Break-even live

Break-even rent $4,381

Max offer price $317,000

Occupancy floor 93%

Sensitivity live

Price	-10% $287	-5% $197	+0% $108	+5% $18	+10% $-72
Rent	-10% $-249	-5% $-71	+0% $108	+5% $286	+10% $464
Rate	-1.0pp $267	-0.5pp $188	base $108	+0.5pp $25	+1.0pp $-58

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: $79,250
• Closing costs: $9,510
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	0.06mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	24d	1	0.06mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	24d	1	0.13mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	24d	1	0.16mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	24d	1	0.23mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	4d	1	0.24mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	24d	1	0.27mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	24d	1	0.28mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	0.29mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	24d	1	0.30mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	4d	1	0.31mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	13d	1	0.34mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	24d	1	0.34mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	17d	1	0.34mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	24d	1	0.38mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	17d	1	0.44mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	24d	1	0.53mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	24d	1	0.59mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	24d	1	0.59mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	24d	1	0.60mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	24d	1	0.64mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	15d	1	0.64mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	24d	1	0.64mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	24d	1	0.66mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	24d	1	0.69mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	24d	1	0.78mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	24d	1	0.78mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	24d	1	0.88mi
10025 Oakhurst Way Fort Myers, FL	2.0	2.0	1504	$7,100	$4.72	24d	1	0.92mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	24d	1	0.94mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	22d	1	0.94mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	4d	1	0.95mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	24d	1	0.95mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	22d	1	0.96mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	17d	1	0.97mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	17d	2	0.98mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	22d	1	0.98mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	24d	1	0.99mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	24d	1	1.02mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	1.02mi

HOA detail condo

• Monthly dues: $765 · $9,180/yr
• Likely covers: trashpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-17
   days on market $317,000 Active 207 DOM
2. 2026-06-16
   days on market $317,000 Active 206 DOM
3. 2026-06-16
   days on market $317,000 Active 205 DOM
4. 2026-06-13
   days on market $317,000 Active 203 DOM
5. 2026-06-09
   days on market $317,000 Active 199 DOM
6. 2026-06-07
   days on market $317,000 Active 197 DOM
7. 2026-06-02
   days on market $317,000 Active 192 DOM
8. 2026-06-01
   days on market $317,000 Active 191 DOM
9. 2026-06-01
   days on market $317,000 Active 190 DOM

ⓘ 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: $5,698 · $475/mo
• Projected year-2 tax: $5,698 · $475/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 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $54,204
• − Mortgage interest: −$17,757
• − Property taxes: −$5,698
• − Insurance: −$6,704
• − Repairs & maintenance: −$4,336
• − Management: −$4,336
• − HOA: −$9,180
• − Depreciation: −$9,222
• Taxable loss: −$3,029
• Est. tax savings @ 24.0%: +$727
• After-tax cash flow: $2,018/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ 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: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

-96.9% since first listed

17 events — show timeline

• 2026-05-27 Relisted — FORTMLS
• 2026-04-28 Listed for Rent $5,300 FGCMLS
• 2026-04-13 Rental Removed $3,000 FORTMLS
• 2026-04-13 Listed for Rent $3,000 FORTMLS
• 2026-04-03 Listing Removed — FORTMLS
• 2026-03-09 Price Changed $317,000 FORTMLS
• 2025-12-23 Price Changed $323,000 FORTMLS
• 2025-09-29 Listed $330,000 FORTMLS
• 2024-09-24 Sold (Public Records) $341,000 Public Records
• 2024-09-24 Sold (MLS) $341,000 FORTMLS
• 2024-08-22 Pending — FORTMLS
• 2024-08-14 Listed $349,500 FORTMLS
• 2015-07-15 Listing Removed — FORTMLS
• 2015-01-15 Listed $209,500 FORTMLS
• 2009-02-09 Sold (Public Records) $170,000 Public Records
• 2009-01-26 Price Changed $185,000 FORTMLS
• 2009-01-23 Sold (MLS) $170,000 FORTMLS

Property tax history

+3.4%/yr

Latest (2025): $5,698 · +8.7% YoY. Source: county tax records.