3359 Barra Cir · Sanibel, FL 33957

$1,075,000

3 bd · 3.0 ba · 1,828 sqft · SingleFamily public records · 20 Days on market

Built 1982 0.31 ac lot $8/mo HOA

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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 MLS

Charming and welcoming traditional Island home on Sanibel’s quiet West end. This partially raised Michigan home has been totally remodeled and features three spacious bedrooms including a master suite addition, three baths, soaring ceilings in the Gathering room and dining room. The fireplace offers ambiance and romance for cool tropical evenings; a large lanai carries the openness of the home outside to the heated swimming pool. The kitchen is a chef’s delight and the eat-in feature allows this to be the heart of the home. Model-like condition and decorator appointed the home has been loved by the Sellers. The spacious lanai looks over the screen enclosed pool and the grounds offering privacy and quietude. A short walk to the deeded beach access, 3359 Barra Circle shows like a model.

Key facts

• Quality appliances
• Private pool
• Outdoor living areas

Tags

• REMODELED ELEVATED HOME
• OPEN-CONCEPT FLOOR PLAN
• REMODELED KITCHEN
• QUALITY APPLIANCES
• PRIVATE POOL
• OUTDOOR LIVING AREAS

Property features AI

Finance

• Other: Private heated in-ground pool with electric heat, pool equipment and screen enclosure; Lot is rectangular on a cul-de-sac with automatic sprinklers and paved road access; Lot exposures: North; Lot dimensions approx. 118 x 126 x 116 x 90
• Financial info: Pets allowed
• HOA & community: Homeowners association with $100 annual fee; Association covers legal/accounting, recreation facilities, reserve fund, and road maintenance; Community offers beach rights and beach access; Non-gated community

Exterior

• Parking: Attached garage with garage door opener; 2 covered garage spaces
• Security: Smoke detectors; Security/high impact doors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story home; Faces south; Resale property; Pillar/post/pier raised foundation
• Construction: Stucco and wood frame construction; Metal roof; Built on raised pillar/post/pier foundation
• Exterior features: Security/high impact doors; Sprinkler/irrigation system; Patio; Shutters (electric and manual); Lanai; Screened patio/porch; Porch; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Range; Refrigerator; Refrigerator with ice maker
• Bedrooms: Split bedroom floor plan
• Flooring: Tile; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: High ceilings; Living/dining room; Tub with shower; Cable TV; Split bedrooms; Impact glass windows; Unfurnished
• Laundry & utility: Washer; Dryer; Indoor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.07M.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.07M).
• Recommended offer: $1.06M (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% 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: 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.
• Zoned schools: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 526 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $7k of loan paydown is wiped out by about $32k 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 $301k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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.
• Current owner paid $779k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,058,875 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.14%
• DSCR: 2.07
• GRM: 5.5

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: 15.3%
• Equity multiple: 1.61×
• Total profit: $184,417
• Equity at exit: $160,286

10-year hold

• IRR: 23.9%
• Equity multiple: 3.07×
• Total profit: $622,803
• Equity at exit: $92,946

Cash invested: $301,000 (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: 5.5×

Monthly cashflow live

• Estimated rent: $16,349 medium
• Mortgage (P&I): −$5,637
• Tax from tax record: −$768 /mo · $9,214/yr
• Insurance: −$448
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$3,433
• Net cashflow: $5,628

Break-even live

Break-even rent $9,225

Max offer price $1,075,000

Occupancy floor 61%

Sensitivity live

Price	-10% $6,237	-5% $5,932	+0% $5,628	+5% $5,324	+10% $5,020
Rent	-10% $4,336	-5% $4,982	+0% $5,628	+5% $6,274	+10% $6,920
Rate	-1.0pp $6,169	-0.5pp $5,901	base $5,628	+0.5pp $5,349	+1.0pp $5,066

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: $268,750
• Closing costs: $32,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Durion Ct Sanibel, FL	3.0	2.5	1306	$12,000	$9.19	25d	1	1.11mi
548 Boulder Dr Sanibel, FL	3.0	3.0	1969	$6,500	$3.30	25d	1	1.11mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	25d	1	1.26mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	25d	1	1.34mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: landscapingpool

Listing history 13 events

1. 2026-06-22
   days on market $1,075,000 Active 20 DOM
2. 2026-06-18
   days on market $1,075,000 Active 17 DOM
3. 2026-06-17
   days on market $1,075,000 Active 16 DOM
4. 2026-06-16
   days on market $1,075,000 Active 15 DOM
5. 2026-06-15
   days on market $1,075,000 Active 14 DOM
6. 2026-06-13
   days on market $1,075,000 Active 12 DOM
7. 2026-06-10
   days on market $1,075,000 Active 9 DOM
8. 2026-06-09
   days on market $1,075,000 Active 8 DOM
9. 2026-06-08
   days on market $1,075,000 Active 7 DOM
10. 2026-06-07
    days on market $1,075,000 Active 6 DOM
11. 2026-06-03
    days on market $1,075,000 Active 2 DOM
12. 2026-06-02
    remarks 693-char remark
13. 2026-06-02
    listed $1,075,000 Active 1 DOM

ⓘ 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: $9,214 · $768/mo
• Projected year-2 tax: $9,214 · $768/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 25 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: $196,188
• − Mortgage interest: −$60,217
• − Property taxes: −$9,214
• − Insurance: −$10,494
• − Repairs & maintenance: −$15,695
• − Management: −$15,695
• − HOA: −$96
• − Depreciation: −$31,273
• Taxable income: $53,506
• Est. tax owed @ 24.0%: −$12,841
• After-tax cash flow: $54,695/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

+6102.0% since first listed

8 events — show timeline

• 2026-06-01 Listed $1,075,000 FORTMLS
• 2017-04-28 Sold (Public Records) $779,000 Public Records
• 2017-04-27 Sold (MLS) $779,000 FORTMLS
• 2017-03-27 Pending — FORTMLS
• 2017-02-07 Listed $789,000 FORTMLS
• 2005-07-11 Sold (Public Records) $575,000 Public Records
• 2000-06-02 Sold (Public Records) $263,500 Public Records
• 1981-06-01 Sold (Public Records) $17,333 Public Records

Property tax history

+2.7%/yr

Latest (2025): $9,214 · +27.8% YoY. Source: county tax records.