561 Periwinkle Way Unit F3 · Sanibel, FL 33957

$410,000

2 bd · 2.0 ba · 844 sqft · Condo public records · 54 Days on market

Built 1972 Excellent condition $486/sqft · 35% below area Est $640k · 36% under $911/mo HOA · 14% of rent

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.9/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well kept ground floor unit with Glass enclosed screened porch/Fl room, all white kitchen, ceramic tiled kitchen and baths, plantation shutters on bedroom windows, mirrored living room wall. Fully furnished and value priced. quiet and desirable east end and 1st floor location. Attractively landscaped courtyard.

Key facts

• New flooring
• Navigable canal
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• NEW FLOORING
• NAVIGABLE CANAL
• SHORT STROLL TO BEACH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $410k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $410k).
• Recommended offer: $398k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 2.6% 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: 582 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $3k of loan paydown is wiped out by about $12k 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 $115k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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 $278k; 47% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $397,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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?
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. 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: 1.64% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.68%
• DSCR: 1.79
• GRM: 5.1

CMA / ARV

• ARV (median comp): $640,073
• List price: $410,000
• Delta: -35.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
671 E Gulf Dr Unit 1D3	0.52mi	2/2.0	875 (+4%)	5mo	$1,050,000	$1,200	66
641 Periwinkle Way Unit B5	0.12mi	2/1.0	1,000 (+18%)	22mo	$340,000	$340	47
805 E Gulf Dr Unit C-1	0.56mi	2/2.0	902 (+7%)	25mo	$365,000	$405	43
845 E Gulf Dr #121	0.80mi	2/2.0	983 (+16%)	2mo	$700,000	$712	38
845 E Gulf Dr #1342	0.76mi	2/2.0	983 (+16%)	21mo	$840,000	$855	22
805 E Gulf Dr Unit 3C	0.56mi	1/1.0 (-1)	638 (-24%)	32mo	$300,000	$470	20
1220 Junonia St Unit B2	1.23mi	1/1.0 (-1)	970 (+15%)	30mo	$549,000	$566	11

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $14,979
• Equity at exit: $61,132

10-year hold

• IRR: 13.1%
• Equity multiple: 2.05×
• Total profit: $120,207
• Equity at exit: $35,449

Cash invested: $114,800 (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 →

Active competition Active MLS

• For sale now: 0 active · 5 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33957

• Home prices YoY: -15.7%
• Active inventory: 582
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $6,707 medium
• Mortgage (P&I): −$2,150
• Tax from tax record: −$375 /mo · $4,500/yr
• Insurance: −$171
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$911
• Vacancy / Maint / Mgmt: −$1,408
• Net cashflow: $1,265

Break-even live

Break-even rent $5,106

Max offer price $410,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,497	-5% $1,381	+0% $1,265	+5% $1,149	+10% $1,033
Rent	-10% $735	-5% $1,000	+0% $1,265	+5% $1,530	+10% $1,795
Rate	-1.0pp $1,472	-0.5pp $1,369	base $1,265	+0.5pp $1,159	+1.0pp $1,051

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: $102,500
• Closing costs: $12,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	119d	1	0.73mi
849 Beach Rd Sanibel, FL	2.0	2.0	800	$2,600	$3.25	10d	1	0.93mi

Property features AI

Finance

• Financial info: Pets allowed conditionally; call for detailsMaximum of 2 pets with a maximum weight of 30 lbs
• HOA & community: Part of a 48-unit communityHomeowners association fee charged monthlyHOA fee covers management, insurance, internet, irrigation water, laundry, legal/accounting, grounds maintenance, pest control, sewer, trash and waterCommunity is non-gatedAssociation amenities include laundry and management

Exterior

• Parking: Attached carport1 covered carport space
• Security: Smoke detectors
• Utilities: Public waterPublic sewerCable availableMunicipal irrigation source
• Home design: Block, concrete, and stucco constructionRolled/hot mop roof2 total storiesEntry level is 1Property is a resaleFaces west
• Construction: Built with block, concrete and stuccoRolled/Hot Mop roof
• Exterior features: Lanai/porch with screened areasSecurity/high-impact doorsAutomatic sprinklers/irrigationProperty is waterfront with canal access and mangrovesOversized lotEast exposure

Interior

• Kitchen: RangeRefrigerator
• Bedrooms: Screened porch listed as a room type
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barSeparate showerShower-only bathSplit bedroom floor planDouble-hung windowsPartially furnished
• Laundry & utility: Laundry area inside the buildingCommon area laundry

HOA detail $911/mo · $10,932/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-07-02
   days on market $410,000 Active 54 DOM
2. 2026-07-01
   days on market $410,000 Active 53 DOM
3. 2026-06-30
   days on market $410,000 Active 52 DOM
4. 2026-06-29
   pricedays on market $410,000 Active 51 DOM
5. 2026-06-28
   days on market $429,000 Active 50 DOM
6. 2026-06-27
   days on market $429,000 Active 49 DOM
7. 2026-06-25
   days on market $429,000 Active 46 DOM
8. 2026-06-22
   days on market $429,000 Active 44 DOM
9. 2026-06-22
   days on market $429,000 Active 43 DOM
10. 2026-06-17
    days on market $429,000 Active 39 DOM
11. 2026-06-16
    days on market $429,000 Active 38 DOM
12. 2026-06-15
    days on market $429,000 Active 37 DOM
13. 2026-06-13
    days on market $429,000 Active 35 DOM
14. 2026-06-10
    days on market $429,000 Active 32 DOM
15. 2026-06-09
    days on market $429,000 Active 31 DOM
16. 2026-06-08
    days on market $429,000 Active 30 DOM
17. 2026-06-07
    days on market $429,000 Active 29 DOM
18. 2026-06-03
    days on market $429,000 Active 25 DOM
19. 2026-06-02
    days on market $429,000 Active 24 DOM
20. 2026-06-01
    days on market $429,000 Active 23 DOM
21. 2026-05-31
    days on market $429,000 Active 22 DOM
22. 2026-05-09
    listed $429,000 Active
23. 2025-04-28
    historical
24. 2025-04-09
    price $399,000
25. 2025-04-07
    price $449,000
26. 2025-02-16
    status Active
27. 2025-02-16
    price $499,000
28. 2024-11-30
    historical
29. 2024-10-02
    status Active
30. 2024-10-02
    price $550,000
31. 2024-04-08
    historical
32. 2022-09-13
    status Active
33. 2022-09-12
    historical
34. 2022-08-30
    status Active
35. 2022-08-25
    status Pending
36. 2022-08-17
    listed $620,000 Active
37. 2015-08-29
    price $278,000 312-char remark

    Show marketing remark (312 chars)

    Well kept ground floor unit with Glass enclosed screened porch/Fl room, all white kitchen, ceramic tiled kitchen and baths, plantation shutters on bedroom windows, mirrored living room wall. Fully furnished and value priced. quiet and desirable east end and 1st floor location. Attractively landscaped courtyard.

38. 2015-08-28
    soldstatus $278,000 Sold 312-char remark

    Show marketing remark (312 chars)

    Well kept ground floor unit with Glass enclosed screened porch/Fl room, all white kitchen, ceramic tiled kitchen and baths, plantation shutters on bedroom windows, mirrored living room wall. Fully furnished and value priced. quiet and desirable east end and 1st floor location. Attractively landscaped courtyard.

39. 2015-08-27
    soldstatus $278,000
40. 2015-08-25
    price $289,982 312-char remark

    Show marketing remark (312 chars)

    Well kept ground floor unit with Glass enclosed screened porch/Fl room, all white kitchen, ceramic tiled kitchen and baths, plantation shutters on bedroom windows, mirrored living room wall. Fully furnished and value priced. quiet and desirable east end and 1st floor location. Attractively landscaped courtyard.

41. 2015-06-29
    status Pending With Contingencies 312-char remark

    Show marketing remark (312 chars)

    Well kept ground floor unit with Glass enclosed screened porch/Fl room, all white kitchen, ceramic tiled kitchen and baths, plantation shutters on bedroom windows, mirrored living room wall. Fully furnished and value priced. quiet and desirable east end and 1st floor location. Attractively landscaped courtyard.

42. 2015-04-21
    listed $289,982 Active 312-char remark

    Show marketing remark (312 chars)

    Well kept ground floor unit with Glass enclosed screened porch/Fl room, all white kitchen, ceramic tiled kitchen and baths, plantation shutters on bedroom windows, mirrored living room wall. Fully furnished and value priced. quiet and desirable east end and 1st floor location. Attractively landscaped courtyard.

43. 2002-08-14
    soldstatus $230,000
44. 2002-08-07
    soldstatus $230,000
45. 2002-06-13
    price $234,900
46. 1988-11-15
    soldstatus $83,010

ⓘ 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: $4,500 · $375/mo
• Projected year-2 tax: $4,500 · $375/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 · 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: $80,486
• − Mortgage interest: −$22,966
• − Property taxes: −$4,500
• − Insurance: −$7,168
• − Repairs & maintenance: −$6,439
• − Management: −$6,439
• − HOA: −$10,932
• − Depreciation: −$11,927
• Taxable income: $10,113
• Est. tax owed @ 24.0%: −$2,427
• After-tax cash flow: $12,755/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.

Condition & rehab AI · 9 photos

Excellent 95/100 None rehab

This move-in ready townhouse is in excellent condition with modern amenities and a prime location. Minor exterior painting and landscaping improvements could further enhance its appeal.

Components & finishes AI

Roof tile · good Flooring tile Counters granite Appliances stainless steel HVAC central · new lt5

Value-add opportunities

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value ↑
• Both Landscaping improvements — Enhanced landscaping can improve both resale and rental value ↑

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary The Sanibel School A+ FL #5/2,144 Nat'l #94/41,679 High Cypress Lake High School D- FL #228/667 Nat'l #6,809/17,239

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

C Composite livability gradescore 67/100

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
• County: Lee · 871,946 people
• City population: 6,402
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 6,402
• Household income: $122,730
• Rent vs Own: 8.4% rent · 91.6% own
• Severe rent burden: 3% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: Pets allowed conditionally; call for detailsMaximum of 2 pets with a maximum weight of 30 lbs
• HOA & community: Part of a 48-unit communityHomeowners association fee charged monthlyHOA fee covers management, insurance, internet, irrigation water, laundry, legal/accounting, grounds maintenance, pest control, sewer, trash and waterCommunity is non-gatedAssociation amenities include laundry and management

Exterior

• Parking: Attached carport1 covered carport space
• Security: Smoke detectors
• Utilities: Public waterPublic sewerCable availableMunicipal irrigation source
• Home design: Block, concrete, and stucco constructionRolled/hot mop roof2 total storiesEntry level is 1Property is a resaleFaces west
• Construction: Built with block, concrete and stuccoRolled/Hot Mop roof
• Exterior features: Lanai/porch with screened areasSecurity/high-impact doorsAutomatic sprinklers/irrigationProperty is waterfront with canal access and mangrovesOversized lotEast exposure

Interior

• Kitchen: RangeRefrigerator
• Bedrooms: Screened porch listed as a room type
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barSeparate showerShower-only bathSplit bedroom floor planDouble-hung windowsPartially furnished
• Laundry & utility: Laundry area inside the buildingCommon area laundry

Price history

+416.8% since first listed

25 events — show timeline

• 2026-05-09 Listed $429,000 FORTMLS
• 2025-04-28 Listing Removed — FORTMLS
• 2025-04-09 Price Changed $399,000 FORTMLS
• 2025-04-07 Price Changed $449,000 FORTMLS
• 2025-02-16 Relisted — FORTMLS
• 2025-02-16 Price Changed $499,000 FORTMLS
• 2024-11-30 Listing Removed — FORTMLS
• 2024-10-02 Relisted — FORTMLS
• 2024-10-02 Price Changed $550,000 FORTMLS
• 2024-04-08 Listing Removed — FORTMLS
• 2022-09-13 Relisted — FORTMLS
• 2022-09-12 Listing Removed — FORTMLS
• 2022-08-30 Relisted — FORTMLS
• 2022-08-25 Pending — FORTMLS
• 2022-08-17 Listed $620,000 FORTMLS
• 2015-08-29 Price Changed $278,000 FORTMLS
• 2015-08-28 Sold (MLS) $278,000 FORTMLS
• 2015-08-27 Sold (Public Records) $278,000 Public Records
• 2015-08-25 Price Changed $289,982 FORTMLS
• 2015-06-29 Pending — FORTMLS
• 2015-04-21 Listed $289,982 FORTMLS
• 2002-08-14 Sold (Public Records) $230,000 Public Records
• 2002-08-07 Sold (MLS) $230,000 FORTMLS
• 2002-06-13 Price Changed $234,900 FORTMLS
• 1988-11-15 Sold (Public Records) $83,010 Public Records

Property tax history

+4.0%/yr

Latest (2025): $4,500 · +821.9% YoY. Source: county tax records.