2445 W Gulf Dr Unit B44 · Sanibel, FL 33957

$1,100,000

2 bd · 2.0 ba · 1,243 sqft · Condo · 275 Days on market

Built 1977 $1648/mo HOA · 9% of rent ↓ 8% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Luxury island living can be yours! Just steps from the sand to the sea, this tastefully decorated two bedroom two bath turnkey condo boasts spectacular Gulf and sunset views from your very own private rooftop sundeck! Pointe Santo is one of the most sought after complexes on the west end of Sanibel Island, perfect for that quiet get away or as an income producing property. Come experience the ultimate Sanibel beach lifestyle with easy access to local restaurants, shops, and recreational activities.

Key facts

• $1,648 HOA
• Parking
• Community pool

Tags

• PRIVATE ROOFTOP SUNDECK
• GULF AND SUNSET VIEWS
• INCOME PRODUCING PROPERTY

Property features AI

Finance

• Other: Community contains 141 units; Lot features include a pond on the property; Roads are public, paved and publicly maintained; Lot and dimension sources: appraiser
• Financial info: Pets allowed with conditions (call); maximum of 1 pet; pets limited to owners only
• HOA & community: Quarterly association fee; Association covers management, insurance, legal/accounting, grounds maintenance and pest control; Community amenities include beach rights and access, clubhouse, pool, spa/hot tub, tennis courts, pickleball, shuffleboard, barbecue and picnic areas, bike storage, and on-site management; Condo hotel community with elevator; near hotel/motel

Exterior

• Parking: Assigned parking; Guest parking available; One assigned space
• Security: Security / high impact doors; Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Condo unit in a 4-story building; Entry level 4; West-facing; Has view; Resale property; Gulf waterfront exposure (Is Waterfront); East exposures noted for lot
• Construction: Block, concrete and stucco construction; Built-up and flat roof
• Exterior features: Courtyard; Deck; Lanai; Porch (screened); Tennis courts; Community pool; Spa / hot tub; Picnic and barbecue areas; Shuffleboard and pickleball courts; Bike storage

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Disposal; Icemaker; Refrigerator; Refrigerator with ice maker
• Bedrooms: Includes bathroom and great room; screened porch listed among room types
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Furnished; Breakfast bar; Built-in features; Tray ceilings; Dual sinks; Combined living and dining area; Shower only (separate shower); Window coverings
• Laundry & utility: Washer; Dryer; Laundry located inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $5k ($63k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.10M).
• Recommended offer: $968k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 25d 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 $8k of loan paydown is wiped out by about $33k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $308k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($968k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $968,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.68% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.79%
• DSCR: 1.92
• GRM: 5.0

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: 12.9%
• Equity multiple: 1.52×
• Total profit: $158,668
• Equity at exit: $164,014

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $575,694
• Equity at exit: $95,108

Cash invested: $308,000 (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: 5.0×

Monthly cashflow live

• Estimated rent: $18,462 medium
• Mortgage (P&I): −$5,769
• Tax est. 1.5%: −$1,375 /mo · $16,500/yr
• Insurance: −$458
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,648
• Vacancy / Maint / Mgmt: −$3,877
• Net cashflow: $5,269

Break-even live

Break-even rent $11,793

Max offer price $1,100,000

Occupancy floor 66%

Sensitivity live

Price	-10% $6,029	-5% $5,649	+0% $5,269	+5% $4,889	+10% $4,509
Rent	-10% $3,810	-5% $4,540	+0% $5,269	+5% $5,998	+10% $6,727
Rate	-1.0pp $5,823	-0.5pp $5,549	base $5,269	+0.5pp $4,984	+1.0pp $4,694

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	24d	1	0.01mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	24d	1	0.06mi
1992 Roseate Ln Unit 414 Sanibel, FL	2.0	1.0	900	$1,400	$1.56	4d	1	1.15mi

HOA detail condo

• Monthly dues: $1,648 · $19,776/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-17
   days on market $1,100,000 Active 275 DOM
2. 2026-06-16
   days on market $1,100,000 Active 274 DOM
3. 2026-06-16
   days on market $1,100,000 Active 273 DOM
4. 2026-06-13
   days on market $1,100,000 Active 271 DOM
5. 2026-06-09
   days on market $1,100,000 Active 267 DOM
6. 2026-06-07
   days on market $1,100,000 Active 265 DOM
7. 2026-06-02
   days on market $1,100,000 Active 260 DOM
8. 2026-06-01
   days on market $1,100,000 Active 259 DOM
9. 2026-06-01
   days on market $1,100,000 Active 258 DOM
10. 2025-09-15
    listed $1,100,000 Active
11. 2024-06-30
    historical
12. 2024-02-19
    price $995,000
13. 2024-01-10
    listed $1,200,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°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: $221,548
• − Mortgage interest: −$61,617
• − Property taxes: −$16,500
• − Insurance: −$6,298
• − Repairs & maintenance: −$17,724
• − Management: −$17,724
• − HOA: −$19,776
• − Depreciation: −$32,000
• Taxable income: $49,910
• Est. tax owed @ 24.0%: −$11,978
• After-tax cash flow: $51,249/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

-8.3% since first listed

4 events — show timeline

• 2025-09-15 Listed $1,100,000 FORTMLS
• 2024-06-30 Listing Removed — FORTMLS
• 2024-02-19 Price Changed $995,000 FORTMLS
• 2024-01-10 Listed $1,200,000 FORTMLS