4217 NW 32nd Ter · Cape Coral, FL 33993

$260,000

3 bd · 2.0 ba · 1,918 sqft · Land · 56 Days on market

Built 2024 10,018 sqft lot

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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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Unfinished new construction opportunity being sold as-is in the growing NW Cape Coral area, offering 1,918 sq ft of living area with a 3-bedroom plus den, 2-bath, 2-car garage layout. Buyer will need to complete remaining construction and permitting requirements. Designed with a spacious great room floor plan, this home features a coffered ceiling in the main living area along with additional tray ceiling details and crown molding in multiple other rooms, creating a strong architectural foundation for a modern finished product. Kitchen is equipped with shaker-style cabinetry and quartz countertops already installed. Dining area includes a matching built-in buffet with wine storage. Primary

Key facts

• Quartz countertops
• Built-in buffet
• Tray ceiling details

Tags

• COFFERED CEILING
• TRAY CEILING DETAILS
• CROWN MOLDING
• SHAKER-STYLE CABINETRY
• QUARTZ COUNTERTOPS
• BUILT-IN BUFFET

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces
• Security: Security/high impact doors
• Utilities: Septic tank; Well water; Cable not available
• Home design: Single-story; New construction; South-facing; Entry level 1
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Security/high impact doors; Room for pool; Open porch

Interior

• Kitchen: Breakfast bar
• Bedrooms: Main level primary; Den; Great room
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Separate shower
• Interior features: Breakfast bar; Built-in features; Bathtub; Tray ceiling(s); Coffered ceiling(s); Dual sinks; Family/dining room; Living/dining room; Split bedrooms; Cable TV; Impact glass windows; Single hung windows; Unfurnished
• Laundry & utility: Inside laundry; Laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $260k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (9.0% below list).
• Recommended offer: $236k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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: Rents falling (-5.5%/yr); 2652 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 31% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 56 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $42k; list at $260k implies a 512% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,489 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 9.2

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: -23.2%
• Equity multiple: 0.23×
• Total profit: $-56,272
• Equity at exit: $38,767

10-year hold

• IRR: -30.3%
• Equity multiple: -0.16×
• Total profit: $-84,651
• Equity at exit: $22,480

Cash invested: $72,800 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2652
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,365 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$85 /mo · $1,026/yr
• Insurance: −$108
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-116

Break-even live

Break-even rent $2,511

Max offer price $239,584

Occupancy floor 100%

Sensitivity live

Price	-10% $32	-5% $-42	+0% $-116	+5% $-189	+10% $-263
Rent	-10% $-302	-5% $-209	+0% $-116	+5% $-22	+10% $71
Rate	-1.0pp $15	-0.5pp $-49	base $-116	+0.5pp $-183	+1.0pp $-251

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4202 NW 32nd Ln Cape Coral, FL	3.0	2.0	1688	$1,795	$1.06	24d	1	0.06mi
4230 NW 32nd Ter Cape Coral, FL	3.0	2.0	1688	$1,795	$1.06	15d	1	0.07mi
4129 Jacaranda Pkwy W Cape Coral, FL	4.0	2.0	2027	$2,501	$1.23	4d	1	0.15mi
3241 NW 41st Pl Cape Coral, FL	3.0	2.0	1688	$1,795	$1.06	24d	1	0.16mi
4410 NW 32nd Ter Cape Coral, FL	4.0	2.0	2347	$2,231	$0.95	4d	1	0.24mi
4240 NW 31st Ter Cape Coral, FL	4.0	2.0	2330	$3,500	$1.50	4d	1	0.24mi
4240 NW 31st Ter Cape Coral, FL	4.0	2.0	2330	$3,950	$1.70	22d	1	0.24mi
4331 NW 31st Ter Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	4d	1	0.32mi
4402 NW 34th Ter Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	24d	1	0.32mi
4333 NW 34th St Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	24d	1	0.33mi
4402 NW 34th Ter Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	24d	1	0.37mi
4333 NW 34th Ln Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	24d	1	0.43mi
4595 NW 34th St Cape Coral, FL	4.0	3.0	1900	$2,195	$1.16	17d	1	0.49mi
3518 NW 44th Pl Cape Coral, FL	4.0	3.0	2306	$2,750	$1.19	24d	1	0.55mi
3535 NW 42nd Ave Cape Coral, FL	4.0	2.0	1787	$2,145	$1.20	24d	1	0.59mi
2726 NW 41st Pl Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	4d	1	0.70mi
4115 NW 36th Ln Cape Coral, FL	4.0	2.0	1787	$2,000	$1.12	24d	1	0.75mi
3812 NW 38th St Cape Coral, FL	3.0	2.0	1920	$2,600	$1.35	24d	1	1.02mi
4113 Kismet Pkwy Cape Coral, FL	4.0	3.0	1816	$2,300	$1.27	4d	1	1.12mi
3617 NW 38th Ter Cape Coral, FL	4.0	3.0	1903	$2,200	$1.16	24d	1	1.21mi
2127 NW 41st Pl Cape Coral, FL	4.0	2.0	1828	$1,876	$1.03	4d	1	1.37mi
3911 NW 40th Ln Cape Coral, FL	3.0	2.0	1363	$3,500	$2.57	24d	1	1.42mi
2113 NW 41st Ave Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	4d	1	1.43mi

Listing history 38 events

1. 2026-06-17
   days on market $260,000 Active 56 DOM
2. 2026-06-16
   days on market $260,000 Active 55 DOM
3. 2026-06-15
   days on market $260,000 Active 54 DOM
4. 2026-06-13
   days on market $260,000 Active 52 DOM
5. 2026-06-10
   days on market $260,000 Active 49 DOM
6. 2026-06-09
   days on market $260,000 Active 48 DOM
7. 2026-06-07
   days on market $260,000 Active 46 DOM
8. 2026-06-03
   days on market $260,000 Active 42 DOM
9. 2026-06-02
   days on market $260,000 Active 41 DOM
10. 2026-06-01
    days on market $260,000 Active 40 DOM
11. 2026-05-31
    days on market $260,000 Active 39 DOM
12. 2026-04-21
    listed $270,000 Active
13. 2024-12-06
    historical
14. 2024-11-15
    listed $425,000 Active
15. 2024-09-11
    historical
16. 2024-08-14
    listed $524,999 Active
17. 2023-04-30
    historical
18. 2022-10-06
    listed $524,999 Active
19. 2021-07-22
    soldstatus $42,500
20. 2021-07-21
    soldstatus $42,500 Closed
21. 2021-07-08
    status Pending
22. 2021-07-02
    status Active
23. 2021-07-02
    price $42,500
24. 2021-05-31
    status Pending
25. 2021-05-26
    listed $40,000 Active
26. 2021-05-20
    soldstatus $36,000
27. 2011-10-19
    soldstatus $34,450
28. 2006-02-10
    soldstatus $86,000
29. 2006-01-24
    price $104,000
30. 2004-06-18
    soldstatus $42,900
31. 2004-06-11
    soldstatus $42,900
32. 2003-11-07
    soldstatus $15,000
33. 2003-11-06
    soldstatus $15,000
34. 2003-09-05
    price $17,900
35. 2001-10-01
    soldstatus $4,000
36. 2001-06-18
    price $4,450
37. 2001-02-07
    soldstatus $6,000
38. 2000-08-17
    soldstatus $24,500

ⓘ 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: $1,026 · $85/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$1,132/yr (+$94/mo · 110.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,379
• − Mortgage interest: −$14,564
• − Property taxes: −$1,026
• − Insurance: −$6,418
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − Depreciation: −$7,564
• Taxable loss: −$5,734
• Est. tax savings @ 24.0%: +$1,376
• After-tax cash flow: $-11/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+1002.0% since first listed

27 events — show timeline

• 2026-04-21 Listed $270,000 FORTMLS
• 2024-12-06 Listing Removed — FORTMLS
• 2024-11-15 Listed $425,000 FORTMLS
• 2024-09-11 Listing Removed — FORTMLS
• 2024-08-14 Listed $524,999 FORTMLS
• 2023-04-30 Listing Removed — MARMLS
• 2022-10-06 Listed $524,999 MARMLS
• 2021-07-22 Sold (Public Records) $42,500 Public Records
• 2021-07-21 Sold (MLS) $42,500 FORTMLS
• 2021-07-08 Pending — FORTMLS
• 2021-07-02 Relisted — FORTMLS
• 2021-07-02 Price Changed $42,500 FORTMLS
• 2021-05-31 Pending — FORTMLS
• 2021-05-26 Listed $40,000 FORTMLS
• 2021-05-20 Sold (Public Records) $36,000 Public Records
• 2011-10-19 Sold (Public Records) $34,450 Public Records
• 2006-02-10 Sold (MLS) $86,000 FORTMLS
• 2006-01-24 Price Changed $104,000 FORTMLS
• 2004-06-18 Sold (Public Records) $42,900 Public Records
• 2004-06-11 Sold (MLS) $42,900 FORTMLS
• 2003-11-07 Sold (Public Records) $15,000 Public Records
• 2003-11-06 Sold (MLS) $15,000 FORTMLS
• 2003-09-05 Price Changed $17,900 FORTMLS
• 2001-10-01 Sold (MLS) $4,000 FORTMLS
• 2001-06-18 Price Changed $4,450 FORTMLS
• 2001-02-07 Sold (Public Records) $6,000 Public Records
• 2000-08-17 Sold (Public Records) $24,500 Public Records

Property tax history

+12.7%/yr

Latest (2025): $1,026 · +13.9% YoY. Source: county tax records.