979 Whelk Dr · Sanibel, FL 33957

$1,495,000

3 bd · 2.0 ba · 2,112 sqft · SingleFamily public records · 181 Days on market

Built 1969 0.38 ac lot Est $1529k · at est. $8/mo HOA

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Why this score? — see what drove the D+ 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 +15.7/30.0
• ARV discount +8.5/15.0
• DSCR +4.9/10.0
• Schools +4.1/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 979 Whelk, a charming island retreat ideally situated on a desirable corner lot in the sought-after Shell Harbor neighborhood of Sanibel. This inviting residence offers the perfect blend of relaxed coastal living and everyday comfort, with the rare combination of boating access and deeded beach parking—providing effortless enjoyment of both the Bay and the Gulf. Surrounded by lush tropical landscaping, the home offers enhanced privacy and curb appeal. Inside, a bright open-concept layout is complemented by crisp white cabinetry, quartz countertops, and stainless steel appliances in the kitchen, creating a fresh coastal aesthetic that flows seamlessly into the main living ar

Key facts

• Deeded beach parking
• Custom bunk beds
• Boating access

Tags

• BOATING ACCESS
• DEEDED BEACH PARKING
• TROPICAL LANDSCAPING
• IMPACT WINDOWS
• CUSTOM BUNK BEDS
• OUTDOOR LIVING SPACES

Property features AI

Finance

• Other: Waterfront property with canal access, navigable water and seawall; Corner, irregular lot with paved road access; Lot exposures to the south
• Financial info: Pets allowed
• HOA & community: Homeowners association with annual fee; Association services include management, legal/accounting, recreation facilities and reserve fund; Association amenities include beach rights and beach access; Community offers boat facilities and is non-gated

Exterior

• Parking: Attached 2-car garage; Driveway parking; Garage with door opener; Unpaved parking area
• Security: Security/high-impact doors; Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story home; Resale property; North-facing
• Construction: Block, concrete and stucco construction; Tile roof; Built on a standard foundation
• Exterior features: Private heated in-ground pool with electric heat and pool equipment; Private in-ground spa with electric heat; Patio (open); Porch; Automatic sprinklers/irrigation; Security/high-impact doors; Smoke detectors

Interior

• Kitchen: Refrigerator with ice maker; Range; Microwave; Dishwasher; Disposal; Icemaker; Pantry
• Bedrooms: Den (flex space); Florida room
• Flooring: Terrazzo flooring; Tile flooring
• Bathrooms: Three full bathrooms; Separate shower(s)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Breakfast bar; Dual sinks; Entrance foyer; Combined living and dining area; Pantry; Shower only (separate shower); Cable TV connection; Walk-in closets; Window treatments; Split bedroom layout; Casement and sliding windows with impact glass
• Laundry & utility: Washer and dryer included; Indoor laundry with laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $242 ($3k/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 $1.30M (13.1% below list).
• Recommended offer: $1.30M (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: 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; 2 comparable units currently listed for rent nearby; 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 $10k of loan paydown is wiped out by about $45k 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 181 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y ago; this cycle's ask has dropped $200k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,299,442 (13.1% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. 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 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.87% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $1,529,088
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
739 Anchor Dr	0.28mi	3/2.0	2,209 (+5%)	0mo	$1,600,000	$724	79

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-226,839
• Equity at exit: $222,909

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-177,660
• Equity at exit: $129,260

Cash invested: $418,600 (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: 9.6×

Monthly cashflow live

• Estimated rent: $12,994 medium
• Mortgage (P&I): −$7,840
• Tax from tax record: −$1,126 /mo · $13,515/yr
• Insurance: −$623
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$2,729
• Net cashflow: $242

Break-even live

Break-even rent $12,688

Max offer price $1,495,000

Occupancy floor 93%

Sensitivity live

Price	-10% $1,088	-5% $665	+0% $242	+5% $-181	+10% $-604
Rent	-10% $-785	-5% $-271	+0% $242	+5% $755	+10% $1,268
Rate	-1.0pp $995	-0.5pp $622	base $242	+0.5pp $-145	+1.0pp $-540

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: $373,750
• Closing costs: $44,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 Lagoon Dr Sanibel, FL	3.0	2.0	1704	$18,200	$10.68	25d	1	0.80mi
1235 Par View Dr Sanibel, FL	2.0	2.0	1534	$3,500	$2.28	23d	1	1.31mi

HOA detail

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

Listing history 38 events

1. 2026-06-22
   days on market $1,495,000 Active 181 DOM
2. 2026-06-17
   days on market $1,495,000 Active 177 DOM
3. 2026-06-16
   days on market $1,495,000 Active 176 DOM
4. 2026-06-15
   days on market $1,495,000 Active 175 DOM
5. 2026-06-13
   days on market $1,495,000 Active 173 DOM
6. 2026-06-10
   days on market $1,495,000 Active 170 DOM
7. 2026-06-09
   days on market $1,495,000 Active 169 DOM
8. 2026-06-07
   days on market $1,495,000 Active 167 DOM
9. 2026-06-02
   days on market $1,495,000 Active 162 DOM
10. 2026-06-01
    days on market $1,495,000 Active 161 DOM
11. 2026-06-01
    days on market $1,495,000 Active 160 DOM
12. 2026-03-04
    price $1,495,000
13. 2026-02-26
    price $1,550,000
14. 2026-02-18
    price $1,650,000
15. 2025-12-22
    listed $1,695,000 Active
16. 2025-07-15
    historical
17. 2024-12-16
    listed $1,849,000 Active
18. 2024-06-18
    historical
19. 2024-04-04
    price $2,099,000
20. 2024-02-08
    listed $2,199,000 Active
21. 2024-01-31
    historical
22. 2023-12-06
    listed $2,280,000 Active
23. 2023-05-31
    historical
24. 2023-03-29
    price $1,449,000
25. 2023-02-21
    price $1,484,000
26. 2023-02-15
    price $1,494,000
27. 2023-01-03
    price $1,499,000
28. 2022-12-15
    listed $1,600,000 Active
29. 2022-02-03
    soldstatus $1,600,000
30. 2022-02-03
    listed $1,595,000
31. 2022-02-01
    soldstatus $1,600,000
32. 2020-10-30
    soldstatus $875,000 Closed
33. 2020-09-10
    status Pending
34. 2020-08-21
    price $900,000
35. 2020-02-20
    price $969,000
36. 2019-10-21
    listed $995,000 Active
37. 2003-06-23
    soldstatus $680,000
38. 1995-03-10
    soldstatus $335,000

ⓘ 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: $13,515 · $1,126/mo
• Projected year-2 tax: $13,515 · $1,126/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 27 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: $155,933
• − Mortgage interest: −$83,743
• − Property taxes: −$13,515
• − Insurance: −$12,594
• − Repairs & maintenance: −$12,475
• − Management: −$12,475
• − HOA: −$96
• − Depreciation: −$43,491
• Taxable loss: −$22,455
• Est. tax savings @ 24.0%: +$5,389
• After-tax cash flow: $8,292/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

+346.3% since first listed

27 events — show timeline

• 2026-03-04 Price Changed $1,495,000 FORTMLS
• 2026-02-26 Price Changed $1,550,000 FORTMLS
• 2026-02-18 Price Changed $1,650,000 FORTMLS
• 2025-12-22 Listed $1,695,000 FORTMLS
• 2025-07-15 Listing Removed — FORTMLS
• 2024-12-16 Listed $1,849,000 FORTMLS
• 2024-06-18 Listing Removed — FORTMLS
• 2024-04-04 Price Changed $2,099,000 FORTMLS
• 2024-02-08 Listed $2,199,000 FORTMLS
• 2024-01-31 Listing Removed — FORTMLS
• 2023-12-06 Listed $2,280,000 FORTMLS
• 2023-05-31 Listing Removed — FORTMLS
• 2023-03-29 Price Changed $1,449,000 FORTMLS
• 2023-02-21 Price Changed $1,484,000 FORTMLS
• 2023-02-15 Price Changed $1,494,000 FORTMLS
• 2023-01-03 Price Changed $1,499,000 FORTMLS
• 2022-12-15 Listed $1,600,000 FORTMLS
• 2022-02-03 Listed $1,595,000 FORTMLS
• 2022-02-03 Sold (MLS) $1,600,000 FORTMLS
• 2022-02-01 Sold (Public Records) $1,600,000 Public Records
• 2020-10-30 Sold (MLS) $875,000 FORTMLS
• 2020-09-10 Pending — FORTMLS
• 2020-08-21 Price Changed $900,000 FORTMLS
• 2020-02-20 Price Changed $969,000 FORTMLS
• 2019-10-21 Listed $995,000 FORTMLS
• 2003-06-23 Sold (Public Records) $680,000 Public Records
• 1995-03-10 Sold (Public Records) $335,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $13,515 · -31.4% YoY. Source: county tax records.