1812 Ibis Ln · Sanibel, FL 33957

$395,000

2 bd · 2.0 ba · 1,204 sqft · SingleFamily public records · 99 Days on market

Built 1972 10,062 sqft lot $6/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 +27.5/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• 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 charming island home offers an exciting opportunity for investors or buyers ready to create their own coastal retreat. While the property sustained hurricane damage and will require a full remodel, it provides a rare chance to reimagine the space from the ground up. With an existing footprint in place, this home is well suited for a custom renovation designed to capture island living at its best. Situated in an established neighborhood, the property holds strong potential for transformation and long-term value. Cul-de-sac location, quiet community within walking distance to restaurants and shopping. Peaceful, serene water views to rear of property overlooking Sanctuary land, birds and

Key facts

• Cul-de-sac location
• Peaceful water views
• Full remodel

Tags

• FULL REMODEL
• CUSTOM RENOVATION
• ESTABLISHED NEIGHBORHOOD
• CUL-DE-SAC LOCATION
• WALKING DISTANCE TO SHOPPING
• PEACEFUL WATER VIEWS

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Annual association fee of $75; Non-gated community

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking
• Utilities: Cable available; Public water; Public sewer
• Home design: Single-story home; Tile roof; Faces northeast; Known damage noted; Has a view
• Construction: Block, concrete and stucco construction
• Exterior features: Lanai; Porch (screened); None listed under other exterior features; Irregular lot; Cul-de-sac lot

Interior

• Bedrooms: Main level primary
• Bathrooms: 2 full bathrooms
• Heating & cooling: Jalousie and sliding windows
• Interior features: Living/dining room; Main level primary bedroom; Split bedrooms; Cable TV available; See remarks

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $395k).
• Recommended offer: $359k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 $3k of loan paydown is wiped out by about $12k 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 99 days — a 9% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $40k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $395k implies a 558% 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 $359,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.20% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.73%
• DSCR: 1.57
• GRM: 7.0

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-16,212
• Equity at exit: $58,896

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $48,068
• Equity at exit: $34,152

Cash invested: $110,600 (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: 7.0×

Monthly cashflow live

• Estimated rent: $4,730 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$321 /mo · $3,855/yr
• Insurance: −$165
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$6
• Vacancy / Maint / Mgmt: −$993
• Net cashflow: $747

Break-even live

Break-even rent $3,785

Max offer price $395,000

Occupancy floor 79%

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1992 Roseate Ln Unit 414 Sanibel, FL	2.0	1.0	900	$1,400	$1.56	3d	1	0.11mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	23d	1	1.18mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	23d	1	1.20mi

HOA detail

• Monthly dues: $6 · $72/yr
• Likely covers: water

Listing history 11 events

1. 2026-05-05
   status Pending
2. 2026-02-26
   price $395,000
3. 2026-01-26
   listed $435,000 Active
4. 2026-01-06
   historical
5. 2025-05-29
   price $450,000
6. 2025-03-07
   listed $475,000 Active
7. 2024-10-15
   historical
8. 2024-06-12
   status Active
9. 2024-05-08
   status Pending
10. 2024-04-22
    listed $475,000 Active
11. 1976-05-01
    soldstatus $60,000

ⓘ 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: $3,855 · $321/mo
• Projected year-2 tax: $3,855 · $321/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°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: $56,758
• − Mortgage interest: −$22,126
• − Property taxes: −$3,855
• − Insurance: −$7,094
• − Repairs & maintenance: −$4,541
• − Management: −$4,541
• − HOA: −$72
• − Depreciation: −$11,491
• Taxable income: $3,039
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $8,232/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

+558.3% since first listed

11 events — show timeline

• 2026-05-05 Pending — FORTMLS
• 2026-02-26 Price Changed $395,000 FORTMLS
• 2026-01-26 Listed $435,000 FORTMLS
• 2026-01-06 Listing Removed — NAPLESMLS
• 2025-05-29 Price Changed $450,000 NAPLESMLS
• 2025-03-07 Listed $475,000 NAPLESMLS
• 2024-10-15 Listing Removed — FORTMLS
• 2024-06-12 Relisted — FORTMLS
• 2024-05-08 Pending — FORTMLS
• 2024-04-22 Listed $475,000 FORTMLS
• 1976-05-01 Sold (Public Records) $60,000 Public Records

Property tax history

-2.8%/yr

Latest (2025): $3,855 · -18.8% YoY. Source: county tax records.