1607 Sand Castle Rd · Sanibel, FL 33957

$699,000

3 bd · 3.0 ba · 1,656 sqft · Townhouse public records · 14 Days on market

Built 1984 6,185 sqft lot $23/mo HOA

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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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• 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

This updated and move-in ready two-story half duplex in The Dunes offers an array of desirable features. With 3 bedrooms and 2.5 baths, the home welcomes you into a spacious living room that boasts vaulted ceilings and stunning southern exposure views of the golf course and the lake beyond. Sliding doors lead to a generous wraparound screened porch, ideal for entertaining guests. The open-concept chef's kitchen is a culinary delight, featuring granite countertops, two ovens, and a large walk-in pantry. The master bedroom, located on the lower level, provides breathtaking views and private access to the porch, while the well-appointed master bathroom includes a double vanity with granite cou

Key facts

• Double vanity
• Open-concept kitchen
• Granite countertops

Tags

• WRAPAROUND SCREENED PORCH
• OPEN-CONCEPT KITCHEN
• GRANITE COUNTERTOPS
• LARGE WALK-IN PANTRY
• PRIVATE ACCESS TO PORCH
• DOUBLE VANITY

Property features AI

Finance

• Other: Irrigation source: municipal
• Financial info: Pets allowed
• HOA & community: Homeowners association (annual fee $275); Association covers management, golf, legal/accounting, grounds maintenance, recreation facilities, and road maintenance; Community amenities include beach rights/access, clubhouse, golf course, pool, putting greens, restaurant, tennis courts, and management; Community features: golf, non-gated, tennis courts; 2 units in community

Exterior

• Parking: Attached carport; Underground parking; 2 covered spaces; 2-car carport
• Security: Smoke detector(s); Security/high impact doors
• Utilities: Public water; Public sewer; Cable available
• Home design: 2 stories; Resale property; Pillar/post/pier raised foundation; Northwest-facing; Has a view; On a lake (waterfront); Southeast exposure
• Construction: Shingle roof; Wood siding; Wood frame construction
• Exterior features: Security/high impact doors; Sprinkler/irrigation system (automatic); Storage; Lanai; Porch; Screened porch; Guest house attached; Smoke detectors

Interior

• Kitchen: Double oven; Dishwasher; Disposal; Icemaker; Microwave; Range; Refrigerator; Refrigerator with ice maker; Pantry
• Bedrooms: Guest quarters
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Furnished; Breakfast bar; Dual sinks; Living/dining room; Pantry; Separate shower; Shower only; Cable TV; Vaulted ceilings; Home office; Sliding windows; Impact glass windows
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $699k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $699k).
• Cap rate 9.0% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $21k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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 $530k; 32% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $699,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.11% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.5

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: -5.2%
• Equity multiple: 0.80×
• Total profit: $-38,211
• Equity at exit: $104,223

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $63,916
• Equity at exit: $60,437

Cash invested: $195,720 (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: 7.5×

Monthly cashflow live

• Estimated rent: $7,764 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$551 /mo · $6,618/yr
• Insurance: −$291
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$23
• Vacancy / Maint / Mgmt: −$1,630
• Net cashflow: $1,175

Break-even live

Break-even rent $6,276

Max offer price $699,000

Occupancy floor 80%

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1666 Sabal Palm Dr Sanibel, FL	2.0	2.5	1715	$3,500	$2.04	23d	1	0.62mi
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$7,115	$4.32	15d	1	1.12mi
424 Lagoon Dr Sanibel, FL	3.0	2.0	1704	$18,200	$10.68	23d	1	1.41mi

HOA detail

• Monthly dues: $23 · $276/yr

Listing history 10 events

1. 2026-06-18
   days on market $699,000 Active 14 DOM
2. 2026-06-17
   days on market $699,000 Active 13 DOM
3. 2026-06-16
   days on market $699,000 Active 12 DOM
4. 2026-06-15
   days on market $699,000 Active 11 DOM
5. 2026-06-13
   days on market $699,000 Active 9 DOM
6. 2026-06-10
   days on market $699,000 Active 6 DOM
7. 2026-06-09
   days on market $699,000 Active 5 DOM
8. 2026-06-08
   days on market $699,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $699,000 Active 3 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: $6,618 · $551/mo
• Projected year-2 tax: $6,618 · $551/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 26 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: $93,164
• − Mortgage interest: −$39,155
• − Property taxes: −$6,618
• − Insurance: −$8,614
• − Repairs & maintenance: −$7,453
• − Management: −$7,453
• − HOA: −$276
• − Depreciation: −$20,335
• Taxable income: $3,261
• Est. tax owed @ 24.0%: −$783
• After-tax cash flow: $13,322/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

+345.2% since first listed

15 events — show timeline

• 2026-06-04 Listed $699,000 FORTMLS
• 2026-04-30 Listing Removed — FORTMLS
• 2025-11-03 Listed $749,000 FORTMLS
• 2025-04-15 Listing Removed — FORTMLS
• 2025-02-06 Price Changed $775,000 FORTMLS
• 2024-11-04 Listed $795,000 FORTMLS
• 2020-04-03 Sold (Public Records) $530,000 Public Records
• 2020-04-03 Sold (MLS) $530,000 FORTMLS
• 2020-02-10 Pending — FORTMLS
• 2019-10-16 Listed $579,000 FORTMLS
• 2019-09-30 Listing Removed — FORTMLS
• 2019-04-05 Listed $579,000 FORTMLS
• 1997-03-20 Sold (Public Records) $205,000 Public Records
• 1987-04-21 Sold (Public Records) $157,000 Public Records
• 1987-04-01 Sold (Public Records) $157,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $6,618 · +20.6% YoY. Source: county tax records.