8793 Middlebrook Dr · Harlem Heights, FL 33908

$268,000

2 bd · 2.0 ba · 1,247 sqft · Condo public records · 299 Days on market

Built 1999 $1235/mo HOA · 27% 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 +25.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST REDUCED $10K! 2 BEDROOM PLUS DEN ATTACHED VILLA IN LEXINGTON COUNTRY CLUB'S LAKE VILLAGE. PAY AS YOU PLAY GOLF. THIS "BRISTOL" FLOOR PLAN IS PRICED TO SELL. END UNIT WITH EXTRA WINDOWS AND LOTS OF NATURAL LIGHT. NEW GARAGE DOOR 2015. NEW A/C 2015.WASHING MACHINE 2015. TILE THROUGHOUT. PLANTATION SHUTTERS. THIS ONE WON'T LAST.

Key facts

• Bristol floor plan
• End unit
• Southwest views

Tags

• ATTACHED VILLA
• BRISTOL FLOOR PLAN
• END UNIT
• EXTENDED LANAI
• SOUTHWEST VIEWS
• PEACEFUL POND

Property features AI

Finance

• Other: Pets allowed with restrictions (call/conditional), maximum 2 pets
• HOA & community: Homeowners association with quarterly fees; Association fee includes management, cable TV, insurance, internet, irrigation water, grounds maintenance, pest control, street lights and security; Community amenities include clubhouse, fitness center, tennis courts, pickleball, bocce court, trails and on-site restaurant; Gated community with street lights; Community of 204 units

Exterior

• Parking: Attached garage; Driveway; Paved parking; Garage door opener; 1 covered garage space (1-car)
• Security: Gated community with security gate and guard; Key card entry; Security guard; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Reclaimed water irrigation
• Home design: Single-story; Resale property; Entry level 1; Northeast facing; Southwest exposure; Waterfront on a lake; RPD zoning
• Construction: Block, concrete and stucco construction; Tile roof; Guest house attached
• Exterior features: Lanai; Porch (screened); Sprinkler/irrigation (automatic); Guest house attached; Paved road

Interior

• Kitchen: Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator with ice maker; Freezer; Icemaker
• Bedrooms: Bedroom on main level; Den; Great room
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Partially furnished; Breakfast bar; Kitchen island; Pantry; Living/dining room; Split bedrooms; Shower only (separate shower); High speed internet; Single hung windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $268k).
• Recommended offer: $236k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.8% in Harlem Heights — 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 75/100 on livability (#263 in FL, #4,209 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, employment 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents soft (-1.2%/yr); 1251 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,648/mo this rent would consume 74% of the median local household income ($75k/yr) (locally 1944% 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 299 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $77k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $216k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 27% of rent.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 299 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.73% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.73%
• DSCR: 1.43
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.41×
• Total profit: $-44,384
• Equity at exit: $39,960

10-year hold

• IRR: -27.8%
• Equity multiple: 0.04×
• Total profit: $-71,993
• 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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1251
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $4,648 high
• Mortgage (P&I): −$1,405
• Tax from tax record: −$311 /mo · $3,733/yr
• Insurance: −$112
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,235
• Vacancy / Maint / Mgmt: −$976
• Net cashflow: $182

Break-even live

Break-even rent $4,417

Max offer price $268,000

Occupancy floor 91%

Sensitivity live

Price	-10% $334	-5% $258	+0% $182	+5% $106	+10% $30
Rent	-10% $-185	-5% $-2	+0% $182	+5% $366	+10% $549
Rate	-1.0pp $317	-0.5pp $250	base $182	+0.5pp $112	+1.0pp $42

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 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1498	$6,300	$4.21	18d	1	0.12mi
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1247	$6,300	$5.05	16d	1	0.12mi
17020 Willowcrest Way Fort Myers, FL	2.0–3.0	2.0	1344	$2,500	$1.86	18d	2	0.25mi
9190 Southmont Cv #309 Fort Myers, FL	3.0	2.0	1331	$6,500	$4.88	4d	1	0.26mi
8837 E Bay Cir Fort Myers, FL	2.0	2.0	1156	$2,600	$2.25	25d	1	0.30mi
9170 Southmont Cv Fort Myers, FL	2.0–3.0	2.0	1358	$4,725	$3.48	16d	1	0.36mi
9140 Southmont Cv #102 Fort Myers, FL	3.0	2.0	1331	$2,500	$1.88	16d	1	0.44mi
16491 Millstone Cir #207 Fort Myers, FL	2.0	2.0	1348	$2,000	$1.48	16d	1	0.46mi
17100 Bridgestone Ct #303 Fort Myers, FL	2.0	2.0	1175	$4,575	$3.89	16d	1	0.48mi
16481 Millstone Cir #207 Fort Myers, FL	3.0	2.0	1348	$2,700	$2.00	25d	1	0.49mi
16471 Millstone Cir #303 Fort Myers, FL	2.0	2.0	1068	$6,100	$5.71	16d	1	0.50mi
16421 Millstone Cir Fort Myers, FL	2.0	2.0	1068	$4,400	$4.12	18d	2	0.55mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1282	$2,400	$1.87	25d	1	0.58mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1175	$2,400	$2.04	5d	1	0.58mi
16440 Millstone Cir #203 Fort Myers, FL	2.0	2.0	1067	$6,300	$5.90	16d	1	0.61mi
16430 Millstone Cir #103 Fort Myers, FL	2.0	2.0	1067	$6,300	$5.90	16d	1	0.61mi

HOA detail condo

• Monthly dues: $1,235 · $14,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-09
   days on market $268,000 Active 299 DOM
2. 2026-06-07
   days on market $268,000 Active 297 DOM
3. 2026-06-02
   days on market $268,000 Active 292 DOM
4. 2026-06-01
   days on market $268,000 Active 291 DOM
5. 2026-06-01
   days on market $268,000 Active 290 DOM
6. 2026-05-13
   price $268,000
7. 2026-04-18
   price $269,000
8. 2026-03-15
   price $289,000
9. 2026-02-06
   price $319,000
10. 2025-08-14
    listed $345,000 Active
11. 2022-09-13
    status Pending
12. 2022-09-12
    historical
13. 2022-08-31
    historical
14. 2022-08-31
    historical
15. 2022-08-29
    listed $439,900
16. 2020-02-25
    soldstatus $215,900
17. 2020-02-21
    soldstatus $215,900 Closed 342-char remark

    Show marketing remark (342 chars)

    JUST REDUCED $10K! 2 BEDROOM PLUS DEN ATTACHED VILLA IN LEXINGTON COUNTRY CLUB'S LAKE VILLAGE. PAY AS YOU PLAY GOLF. THIS "BRISTOL" FLOOR PLAN IS PRICED TO SELL. END UNIT WITH EXTRA WINDOWS AND LOTS OF NATURAL LIGHT. NEW GARAGE DOOR 2015. NEW A/C 2015.WASHING MACHINE 2015. TILE THROUGHOUT. PLANTATION SHUTTERS. THIS ONE WON'T LAST.

18. 2020-01-02
    status Pending 342-char remark

    Show marketing remark (342 chars)

    JUST REDUCED $10K! 2 BEDROOM PLUS DEN ATTACHED VILLA IN LEXINGTON COUNTRY CLUB'S LAKE VILLAGE. PAY AS YOU PLAY GOLF. THIS "BRISTOL" FLOOR PLAN IS PRICED TO SELL. END UNIT WITH EXTRA WINDOWS AND LOTS OF NATURAL LIGHT. NEW GARAGE DOOR 2015. NEW A/C 2015.WASHING MACHINE 2015. TILE THROUGHOUT. PLANTATION SHUTTERS. THIS ONE WON'T LAST.

19. 2019-08-22
    price $229,900 342-char remark

    Show marketing remark (342 chars)

    JUST REDUCED $10K! 2 BEDROOM PLUS DEN ATTACHED VILLA IN LEXINGTON COUNTRY CLUB'S LAKE VILLAGE. PAY AS YOU PLAY GOLF. THIS "BRISTOL" FLOOR PLAN IS PRICED TO SELL. END UNIT WITH EXTRA WINDOWS AND LOTS OF NATURAL LIGHT. NEW GARAGE DOOR 2015. NEW A/C 2015.WASHING MACHINE 2015. TILE THROUGHOUT. PLANTATION SHUTTERS. THIS ONE WON'T LAST.

20. 2019-08-15
    listed $239,900 Active 342-char remark

    Show marketing remark (342 chars)

    JUST REDUCED $10K! 2 BEDROOM PLUS DEN ATTACHED VILLA IN LEXINGTON COUNTRY CLUB'S LAKE VILLAGE. PAY AS YOU PLAY GOLF. THIS "BRISTOL" FLOOR PLAN IS PRICED TO SELL. END UNIT WITH EXTRA WINDOWS AND LOTS OF NATURAL LIGHT. NEW GARAGE DOOR 2015. NEW A/C 2015.WASHING MACHINE 2015. TILE THROUGHOUT. PLANTATION SHUTTERS. THIS ONE WON'T LAST.

21. 2019-07-06
    historical
22. 2019-04-23
    listed $239,900 Active
23. 2004-05-17
    soldstatus $195,000

ⓘ 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: $3,733 · $311/mo
• Projected year-2 tax: $3,733 · $311/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $55,772
• − Mortgage interest: −$15,012
• − Property taxes: −$3,733
• − Insurance: −$6,458
• − Repairs & maintenance: −$4,462
• − Management: −$4,462
• − HOA: −$14,820
• − Depreciation: −$7,796
• Taxable loss: −$972
• Est. tax savings @ 24.0%: +$233
• After-tax cash flow: $2,416/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 — Harlem Heights

• Score: 75/100
• State rank: #263
• US rank: #4209

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

+37.4% since first listed

18 events — show timeline

• 2026-05-13 Price Changed $268,000 FORTMLS
• 2026-04-18 Price Changed $269,000 FORTMLS
• 2026-03-15 Price Changed $289,000 FORTMLS
• 2026-02-06 Price Changed $319,000 FORTMLS
• 2025-08-14 Listed $345,000 FORTMLS
• 2022-09-13 Pending — FORTMLS
• 2022-09-12 Listing Removed — FORTMLS
• 2022-08-31 Listing Removed — FORTMLS
• 2022-08-31 Listing Removed — FORTMLS
• 2022-08-29 Listed $439,900 FORTMLS
• 2020-02-25 Sold (Public Records) $215,900 Public Records
• 2020-02-21 Sold (MLS) $215,900 FORTMLS
• 2020-01-02 Pending — FORTMLS
• 2019-08-22 Price Changed $229,900 FORTMLS
• 2019-08-15 Listed $239,900 FORTMLS
• 2019-07-06 Listing Removed — FORTMLS
• 2019-04-23 Listed $239,900 FORTMLS
• 2004-05-17 Sold (Public Records) $195,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $3,733 · -1.9% YoY. Source: county tax records.