3677 Tangerine Dr · St. James City, FL 33956

$243,000

3 bd · 2.0 ba · 2,048 sqft · SingleFamily public records · 30 Days on market

Built 1978 0.36 ac lot

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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 +26.8/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3677 Tangerine Drive in the laid-back waterfront community of Saint James City, Florida. This property presents a unique opportunity for investors, flippers, or buyers looking to create their own slice of paradise in a highly desirable coastal location. Situated on a generous lot, the home offers great potential with its existing structure and location. While the property does require rehabilitation, it provides a blank canvas for those with vision. Whether you're looking to renovate and resell, build equity as a primary residence, or create a seasonal getaway, the possibilities here are substantial. Saint James City is known for its relaxed island lifestyle, access to world-clas

Key facts

• 0.36 acre lot
• Pool
• Built 1978

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Utilities: Cable available; Public water; Public sewer
• Home design: Single-story; Faces east; Resale property
• Construction: Shingle roof
• Exterior features: In-ground private pool; West exposure

Interior

• Bedrooms: Master bedroom (12.0 x 12.0); Bedroom (12.0 x 12.0)
• Flooring: Concrete flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning (electric)
• Interior features: Unfurnished; Bedroom on main level; Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $243k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $243k).
• Recommended offer: $239k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.9% in St. James City — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 287 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k 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 30 days — a 2% lower offer ($239k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,355 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.80%
• DSCR: 1.53
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $899,072
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3483 Manatee Dr	0.22mi	3/2.5	1,775 (-13%)	15mo	$780,000	$439	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-23,609
• Equity at exit: $36,232

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $641
• Equity at exit: $21,010

Cash invested: $68,040 (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 33956

• Home prices YoY: -16.3%
• Active inventory: 287
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,004 medium
• Mortgage (P&I): −$1,274
• Tax from tax record: −$329 /mo · $3,947/yr
• Insurance: −$101
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $242

Break-even live

Break-even rent $2,698

Max offer price $243,000

Occupancy floor 87%

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: $60,750
• Closing costs: $7,290
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-13
   status $243,000 Pending 30 DOM
2. 2026-06-10
   days on market $243,000 Active 30 DOM
3. 2026-06-09
   days on market $243,000 Active 29 DOM
4. 2026-06-08
   days on market $243,000 Active 28 DOM
5. 2026-06-07
   days on market $243,000 Active 27 DOM
6. 2026-06-03
   days on market $243,000 Active 23 DOM
7. 2026-06-02
   days on market $243,000 Active 22 DOM
8. 2026-06-01
   days on market $243,000 Active 21 DOM
9. 2026-05-31
   days on market $243,000 Active 20 DOM
10. 2026-05-16
    status Active
11. 2026-05-13
    status Pending
12. 2026-05-08
    listed $243,000 Active

ⓘ 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: $3,947 · $329/mo
• Projected year-2 tax: $3,947 · $329/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 ≥107°F today · 24 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,054
• − Mortgage interest: −$13,612
• − Property taxes: −$3,947
• − Insurance: −$6,334
• − Repairs & maintenance: −$2,884
• − Management: −$2,884
• − Depreciation: −$7,069
• Taxable loss: −$676
• Est. tax savings @ 24.0%: +$162
• After-tax cash flow: $3,072/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 — St. James City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. James City, FL
• Population (ZIP): 3,846

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Pacific Islander 2% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Slovak 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% German/W. Germanic 2% 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: ▼ -58.47%
• Current HPI: 300.1416
• 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

3 events — show timeline

• 2026-05-16 Relisted — FORTMLS
• 2026-05-13 Pending — FORTMLS
• 2026-05-08 Listed $243,000 FORTMLS

Property tax history

+12.8%/yr

Latest (2025): $3,947 · +4.7% YoY. Source: county tax records.