2480 Library Way · Sanibel, FL 33957

$1,595,000

3 bd · 3.0 ba · 1,700 sqft · SingleFamily public records · 195 Days on market

Built 1989 10,454 sqft 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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.3/10.0
• 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 MLS

Have your Business and live here too! Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

Key facts

• Superb craftsmanship
• Zoned tcl
• Hardie board siding

Tags

• ZONED TCL
• SUPERB CRAFTSMANSHIP
• IMPACT WINDOWS AND DOORS
• HARDIE BOARD SIDING
• BRAZILIAN HARDWOOD DECKING
• COMPOSITE DECKING

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association amenities include trails; Non-gated community

Exterior

• Parking: Attached garage with 2 spaces; Covered parking; Underground garage access; Garage door opener; Guest parking; Handicap accessible parking
• Security: Monitored burglar alarm; Security system; Smoke detectors
• Utilities: Public water; Public and private sewer connections; Natural gas available; High-speed internet availability; Cable not available
• Home design: Two stories; Total of four stories in the building; Resale property; Raised foundation with pillar/post/pier; Faces west; Has a view; Rectangular lot with paved public road access; Lot exposures to the east
• Construction: Stucco and wood frame construction; Metal roof
• Exterior features: Courtyard; Deck; Fence; Security/high-impact doors; Sprinkler/irrigation (municipal source); Outdoor shower; Patio; Storage; Awnings; Balcony; Open porch

Interior

• Kitchen: Gas cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Water purifier; Kitchen island; Breakfast bar; Pantry; Eat-in kitchen
• Bedrooms: Primary bedroom located on an upper level
• Flooring: Wood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric, gas, propane) with zoned controls; Central air conditioning; Ceiling fans
• Interior features: Breakfast bar; Bathtub; Dual sinks; Eat-in kitchen; Handicap access; High ceilings; Kitchen island; Pantry; Sitting area in primary; Separate shower; Upper level primary; Vaulted ceilings; Bar; Window treatments; Split bedrooms; Workshop; Other interior features noted; Furnished; Wheelchair access; Jalousie, sliding, and impact windows
• Laundry & utility: Washer and dryer included; Washer hookup and dryer hookup inside

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.59M.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.48M (7.1% below list).
• Recommended offer: $1.40M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 $11k of loan paydown is wiped out by about $48k 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 195 days — a 12% lower offer ($1.40M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $155k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $725k; list at $1.59M implies a 120% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,403,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.93% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 9.0

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-157,277
• Equity at exit: $237,820

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-7,600
• Equity at exit: $137,906

Cash invested: $446,600 (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: 9.0×

Monthly cashflow live

• Estimated rent: $14,817 medium
• Mortgage (P&I): −$8,364
• Tax from tax record: −$656 /mo · $7,869/yr
• Insurance: −$665
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,112
• Net cashflow: $1,594

Break-even live

Break-even rent $12,799

Max offer price $1,595,000

Occupancy floor 84%

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: $398,750
• Closing costs: $47,850
• 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	23d	1	1.03mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	23d	1	1.07mi
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$7,115	$4.32	16d	1	1.27mi

Listing history 29 events

1. 2026-06-17
   days on market $1,595,000 Active 195 DOM
2. 2026-06-16
   days on market $1,595,000 Active 194 DOM
3. 2026-06-15
   days on market $1,595,000 Active 193 DOM
4. 2026-06-13
   days on market $1,595,000 Active 191 DOM
5. 2026-06-09
   days on market $1,595,000 Active 187 DOM
6. 2026-06-07
   days on market $1,595,000 Active 185 DOM
7. 2026-06-02
   days on market $1,595,000 Active 180 DOM
8. 2026-06-01
   days on market $1,595,000 Active 179 DOM
9. 2026-06-01
   days on market $1,595,000 Active 178 DOM
10. 2026-02-20
    price $1,595,000
11. 2026-01-29
    price $1,650,000
12. 2025-12-04
    listed $1,750,000 Active
13. 2021-06-25
    soldstatus $725,000 Closed 568-char remark

    Show marketing remark (568 chars)

    Have your Business and live here too! Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

14. 2021-04-26
    status Pending 568-char remark

    Show marketing remark (568 chars)

    Have your Business and live here too! Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

15. 2021-03-08
    listed $829,000 Active 568-char remark

    Show marketing remark (568 chars)

    Have your Business and live here too! Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

16. 2020-12-08
    soldstatus $600,000 Closed 530-char remark

    Show marketing remark (530 chars)

    Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

17. 2020-10-26
    status Pending 530-char remark

    Show marketing remark (530 chars)

    Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

18. 2020-03-18
    listed $649,000 Active 530-char remark

    Show marketing remark (530 chars)

    Unique opportunity to own a property that offers mixed zoning of residential and a commercial business under the same roof. Combine business with pleasure in this position perfect and centrally located home/office offering the ability to walk to shops, banks, restaurants, delis and the post office. A place with space this multiple level living has wood floors throughout and an elevator that services all floors. Double garage for storage, a side yard for entertaining and parking in front. Live and work in an island paradise.

19. 2019-06-10
    historical
20. 2019-03-02
    price $779,000
21. 2018-12-17
    listed $837,000 Active
22. 2018-11-01
    historical
23. 2018-09-26
    price $837,000
24. 2018-07-02
    listed $875,000 Active
25. 2018-07-01
    historical
26. 2018-05-30
    price $875,000
27. 2018-02-16
    price $899,000
28. 2018-01-04
    listed $995,000 Active
29. 2008-05-02
    soldstatus $515,000

ⓘ 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: $7,869 · $656/mo
• Projected year-2 tax: $13,238 · $1,103/mo
• Expected delta: +$5,369/yr (+$447/mo · 68.2%)

ⓘ 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 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: $177,800
• − Mortgage interest: −$89,345
• − Property taxes: −$7,869
• − Insurance: −$13,094
• − Repairs & maintenance: −$14,224
• − Management: −$14,224
• − Depreciation: −$46,400
• Taxable loss: −$7,355
• Est. tax savings @ 24.0%: +$1,765
• After-tax cash flow: $20,892/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

+209.7% since first listed

20 events — show timeline

• 2026-02-20 Price Changed $1,595,000 FORTMLS
• 2026-01-29 Price Changed $1,650,000 FORTMLS
• 2025-12-04 Listed $1,750,000 FORTMLS
• 2021-06-25 Sold (MLS) $725,000 FORTMLS
• 2021-04-26 Pending — FORTMLS
• 2021-03-08 Listed $829,000 FORTMLS
• 2020-12-08 Sold (MLS) $600,000 FORTMLS
• 2020-10-26 Pending — FORTMLS
• 2020-03-18 Listed $649,000 FORTMLS
• 2019-06-10 Listing Removed — FORTMLS
• 2019-03-02 Price Changed $779,000 FORTMLS
• 2018-12-17 Listed $837,000 FORTMLS
• 2018-11-01 Listing Removed — FORTMLS
• 2018-09-26 Price Changed $837,000 FORTMLS
• 2018-07-02 Listed $875,000 FORTMLS
• 2018-07-01 Listing Removed — FORTMLS
• 2018-05-30 Price Changed $875,000 FORTMLS
• 2018-02-16 Price Changed $899,000 FORTMLS
• 2018-01-04 Listed $995,000 FORTMLS
• 2008-05-02 Sold (Public Records) $515,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $7,869 · +0.4% YoY. Source: county tax records.