2181 Rio Nuevo Dr · North Fort Myers, FL 33917

$268,000

2 bd · 2.0 ba · 1,515 sqft · SingleFamily public records · 16 Days on market

Built 1992 7,361 sqft lot Est $318k · 16% under $242/mo HOA · 7% 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 +21.9/30.0
• ARV discount +14.6/15.0
• 1% rule +7.5/10.0
• DSCR +7.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this LaScala gem in Herons Glen Country Club. This house has spectacular views and tremendous potential. The generous great room features soaring high ceilings and sliding doors that open to your wraparound lanai, where an above ground spa awaits. The kitchen is spacious with an eat in area and its own sliders leading to the lanai. The master suite includes a walk in shower, walk in closet, and dual sinks, plus sliders opening to the lanai. It’s the perfect floorplan to enjoy that indoor-outdoor Florida lifestyle. A 2025 new roof, full two-car garage with skeeter beater, and hurricane shutters give you the structural confidence to focus your energy and investment where

Key facts

• Dual sinks
• Above ground spa
• Walk in closet

Tags

• WRAPAROUND LANAI
• ABOVE GROUND SPA
• WALK IN SHOWER
• WALK IN CLOSET
• DUAL SINKS
• NEW ROOF

Property features AI

Finance

• Other: Part of a large community of approximately 1,300 units; Community features: golf, gated, tennis courts, street lights
• Financial info: Pets allowed conditionally (call); maximum of 3 pets
• HOA & community: Homeowners association with quarterly fee; Association amenities include clubhouse, fitness center, pool, spa/hot tub, golf course and putting greens, tennis and pickleball courts, bocce and shuffleboard courts, trails and sidewalks, restaurant, billiards/hobby/library rooms, barbecue/picnic areas, management, and security; Association fee covers management, cable TV, internet, irrigation water, legal/accounting, grounds maintenance, recreation facilities, reserve fund, road maintenance, street lights and security

Exterior

• Parking: Attached garage; 2 covered garage spaces; Driveway; paved parking
• Security: Gated community with guard; Security gate; Smoke detectors
• Utilities: Public water (assessment paid); Public sewer (assessment paid); Cable available; High-speed internet available; Underground utilities
• Home design: Single-story residence; Entry at level 1; Southeast facing; Resale property
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Private paved road frontage on a private maintained road; Automatic sprinklers/irrigation; Gas grill; Sprinkler/Irrigation included in assessment; Northwest exposure; Lake frontage (across the road)

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Disposal; Refrigerator with icemaker; Icemaker
• Bedrooms: At least one bedroom on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Furnished; Attic with pull-down stairs; Dual sinks in bathroom; Eat-in kitchen area; Combined living and dining room; Separate shower (shower only); Cable TV available; High-speed internet available; Single-hung and sliding windows with shutters
• Laundry & utility: Washer and dryer included; Indoor laundry with utility/laundry tub; Intercom

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $268k).
• Recommended offer: $264k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.6% in North 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, 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: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 14 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).
• At $3,338/mo this rent would consume 73% of the median local household income ($55k/yr) (locally 775% 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 $8k 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 16 days — a 2% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $180k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,980 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
4. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
5. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
6. 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.
7. 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.
8. 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: 1.25% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.73%
• DSCR: 1.30
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $318,150
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2030 Rio Nuevo Dr	0.17mi	2/2.0	1,408 (-7%)	3mo	$295,000	$210	78
1950 Corona Del Sire Dr	0.29mi	2/2.0	1,602 (+6%)	11mo	$250,000	$156	68
20919 Villareal Way	0.41mi	2/2.0	1,428 (-6%)	14mo	$286,000	$200	60
1941 Palo Duro Blvd	0.33mi	3/2.0 (+1)	1,448 (-4%)	17mo	$281,000	$194	58
20526 Plumwood Loop	0.54mi	2/2.0	1,497 (-1%)	18mo	$285,000	$190	58
20502 Plumwood Loop	0.58mi	2/2.0	1,497 (-1%)	18mo	$330,000	$220	56
1921 Embarcadero Way	0.41mi	3/2.0 (+1)	1,495 (-1%)	22mo	$429,000	$287	56
20686 Dennisport Ln	0.72mi	3/2.0 (+1)	1,617 (+7%)	2mo	$460,000	$284	48
2521 Palo Duro Blvd	0.37mi	3/2.0 (+1)	1,644 (+8%)	20mo	$500,000	$304	47
20736 Mystic Way	0.69mi	3/2.0 (+1)	1,700 (+12%)	3mo	$350,000	$206	40
2401 Palo Duro Blvd	0.34mi	3/2.0 (+1)	1,729 (+14%)	22mo	$460,000	$266	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-17,602
• Equity at exit: $39,960

10-year hold

• IRR: 2.9%
• Equity multiple: 1.20×
• Total profit: $15,239
• Equity at exit: $23,172

Cash invested: $75,040 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,338 high
• Mortgage (P&I): −$1,405
• Tax from tax record: −$457 /mo · $5,489/yr
• Insurance: −$112
• HOA: −$242
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $421

Break-even live

Break-even rent $2,806

Max offer price $268,000

Occupancy floor 82%

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	14d	1	0.05mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	23d	1	0.11mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	16d	1	0.11mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	23d	1	0.32mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	21d	1	0.36mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	16d	1	0.36mi
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	23d	1	0.39mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	3d	1	0.48mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	23d	1	0.74mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	23d	1	0.76mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	19d	1	0.79mi
20728 Tisbury Ln North Fort Myers, FL	3.0	2.5	2133	$5,000	$2.34	14d	1	0.85mi
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	23d	1	1.36mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	23d	1	1.41mi

HOA detail

• Monthly dues: $242 · $2,904/yr

Listing history 5 events

1. 2026-05-08
   status Pending
2. 2026-04-20
   listed $268,000 Active
3. 2003-12-10
   soldstatus $180,000
4. 2003-12-08
   price $189,000
5. 1992-11-09
   soldstatus $173,100

ⓘ 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: $5,489 · $457/mo
• Projected year-2 tax: $5,489 · $457/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 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: $40,057
• − Mortgage interest: −$15,012
• − Property taxes: −$5,489
• − Insurance: −$1,340
• − Repairs & maintenance: −$3,205
• − Management: −$3,205
• − HOA: −$2,904
• − Depreciation: −$7,796
• Taxable income: $1,107
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $4,782/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

+54.8% since first listed

5 events — show timeline

• 2026-05-08 Pending — FORTMLS
• 2026-04-20 Listed $268,000 FORTMLS
• 2003-12-10 Sold (MLS) $180,000 FORTMLS
• 2003-12-08 Price Changed $189,000 FORTMLS
• 1992-11-09 Sold (Public Records) $173,100 Public Records

Property tax history

+3.7%/yr

Latest (2025): $5,489 · +2.6% YoY. Source: county tax records.