10510 Amiata Way #306 · Fort Myers, FL 33913

$289,900

3 bd · 2.0 ba · 1,380 sqft · Condo public records · 120 Days on market

Built 2005 $896/mo HOA · 19% of rent

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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 +29.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

END UNIT-VIZCAYA MODEL-3 BEDROOMS + 2 BATHS-IN PELICAN PRESERVE THE ULTIMATE 55+ BETTER RESORT LIFESTYLE COMMUNITY IN SW FLORIDA! On the highest possible floor with GORGEOUS 270 degree elevated views with no building to your right! Views are of lake, Residents' Butterfly Garden and Resident's Garden plus the 38-acre onsite Nature Preserve. It's all about the unmatched lifestyle of Pelican Preserve, with unmatched amenities, including: Optional 27 holes of championship golf, 6 lighted-clay Har Tru tennis courts with leagues & Pro + Pro Shop, UNBELIEVABLE Fitness Center with indoor pool and water aerobics classes, Spa, Sauna, Massage Rooms, then Softball Stadium, Basketball, Beach Sand Volleyball, Fishing Pier with adjacent sand beach, Destinations Restaurant, Wood Shop, Craft Center, Billards, Movie Theater with Free Movies on Friday (includes popcorn!), Magnolia Banquet Room, Computer Center, Outdoor Amphitheater, Lawn Bowling, Croquet, Horseshoe Pits, Bike/Jogging Track + Preserve!

Key facts

• Fitness center
• Lake views
• Spacious balcony

Tags

• VAULTED CEILINGS
• SPACIOUS BALCONY
• LAKE VIEWS
• DEDICATED LAUNDRY ROOM
• DEDICATED STORAGE UNIT
• FITNESS CENTER

Property features AI

Finance

• Other: Gated community with street lights; Pet policy: call/conditional, maximum 2 pets (no aggressive breeds)
• Financial info: Land lease expires 2026-04-01
• HOA & community: Homeowners association with quarterly fees; Association fees include cable TV, internet, grounds maintenance, pest control, security, trash and water; Community amenities: clubhouse, pool, spa/hot tub, fitness center, golf course, tennis courts, pickleball, bocce court, billiards/billiard room, business center, restaurant, dog park, library, hobby room, trails, management, trash service

Exterior

• Parking: Detached carport; 1 covered carport space
• Security: Smoke detector(s); Security/high impact doors
• Utilities: Public water; Public sewer; Cable available; Underground utilities
• Home design: Block, concrete and stucco construction; Tile roof; 3 stories total; Entry level: 3; North-facing main orientation; Resale property; Zero lot line
• Construction: Built with block, concrete and stucco; Tile roof; Foundation details not provided
• Exterior features: Lanai; Porch; Screened porch; Security/high impact doors; Sprinkler/irrigation (automatic); Water feature; Community pool; Lake frontage (waterfront); South exposure; Municipal irrigation source; Has view

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator; Breakfast bar
• Bedrooms: Split bedroom layout
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Furnished; Breakfast bar; Dual sinks; Living/dining room; Separate shower (shower only); Cable TV; Split bedrooms; Single hung windows; Impact glass windows
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $618 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $290k).
• Recommended offer: $264k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.0% in Fort Myers — 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 flat; 811 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,794/mo this rent would consume 52% of the median local household income ($110k/yr) (locally 276% 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 $9k 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 120 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $200k; 45% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% 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. 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 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: 1.65% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.44%
• DSCR: 1.69
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.76×
• Total profit: $-19,209
• Equity at exit: $43,225

10-year hold

• IRR: -2.4%
• Equity multiple: 0.86×
• Total profit: $-10,989
• Equity at exit: $25,065

Cash invested: $81,172 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $4,794 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$206 /mo · $2,473/yr
• Insurance: −$121
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$896
• Vacancy / Maint / Mgmt: −$1,007
• Net cashflow: $618

Break-even live

Break-even rent $4,012

Max offer price $289,900

Occupancy floor 82%

Sensitivity live

Price	-10% $782	-5% $700	+0% $618	+5% $536	+10% $454
Rent	-10% $239	-5% $428	+0% $618	+5% $807	+10% $996
Rate	-1.0pp $764	-0.5pp $691	base $618	+0.5pp $543	+1.0pp $466

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	25d	1	0.03mi
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	25d	1	0.11mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	25d	2	0.39mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	25d	1	0.48mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	25d	1	0.54mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	25d	1	0.54mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	25d	1	0.54mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	15d	1	0.54mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	25d	1	0.54mi
9232 Aviano Dr Unit Amazing Aviano Fort Myers, FL	3.0	2.0	1772	$5,500	$3.10	25d	1	0.57mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	15d	1	0.64mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	15d	1	0.64mi
9217 Aviano Dr Fort Myers, FL	2.0	2.0	1227	$2,500	$2.04	12d	1	0.64mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	25d	1	0.65mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	25d	1	0.69mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	4d	1	0.69mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	25d	1	0.69mi
10025 Oakhurst Way Fort Myers, FL	2.0	2.0	1504	$7,100	$4.72	25d	1	0.70mi
10351 Whispering Palms Dr #105 Fort Myers, FL	3.0	2.0	1724	$2,500	$1.45	25d	1	0.70mi
10092 Oakhurst Way Fort Myers, FL	2.0	2.0	1505	$6,700	$4.45	20d	1	0.77mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	25d	1	0.79mi
10074 Oakhurst Way Fort Myers, FL	3.0	2.0	1727	$7,500	$4.34	25d	1	0.80mi
10072 Oakhurst Way Fort Myers, FL	2.0	2.0	1511	$7,400	$4.90	25d	1	0.81mi
10428 Materita Dr Fort Myers, FL	2.0	2.0	1568	$6,250	$3.99	25d	1	0.82mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	25d	1	0.82mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	25d	1	0.83mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	25d	1	0.86mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	25d	1	0.90mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	4d	1	0.91mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	25d	1	0.91mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	25d	1	0.92mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	25d	1	0.92mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	25d	1	0.93mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	13d	1	0.94mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	25d	1	0.95mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	25d	1	0.97mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	25d	1	0.97mi
10730 Cetrella Dr Fort Myers, FL	3.0	2.0	1558	$6,900	$4.43	25d	1	1.03mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	4d	1	1.08mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	25d	1	1.08mi

HOA detail condo

• Monthly dues: $896 · $10,752/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-07
   statusdays on market $289,900 Pending 120 DOM
2. 2026-06-02
   days on market $289,900 Active 118 DOM
3. 2026-06-01
   days on market $289,900 Active 117 DOM
4. 2026-06-01
   days on market $289,900 Active 116 DOM
5. 2026-04-25
   price $289,900
6. 2026-03-10
   status Active
7. 2026-02-26
   status Pending
8. 2026-01-31
   status Active
9. 2026-01-31
   price $294,000
10. 2026-01-06
    historical
11. 2025-12-29
    listed $292,000 Active
12. 2008-05-08
    soldstatus $200,000
13. 2008-05-06
    price $208,000 1003-char remark

    Show marketing remark (1003 chars)

    END UNIT-VIZCAYA MODEL-3 BEDROOMS + 2 BATHS-IN PELICAN PRESERVE THE ULTIMATE 55+ BETTER RESORT LIFESTYLE COMMUNITY IN SW FLORIDA! On the highest possible floor with GORGEOUS 270 degree elevated views with no building to your right! Views are of lake, Residents' Butterfly Garden and Resident's Garden plus the 38-acre onsite Nature Preserve. It's all about the unmatched lifestyle of Pelican Preserve, with unmatched amenities, including: Optional 27 holes of championship golf, 6 lighted-clay Har Tru tennis courts with leagues & Pro + Pro Shop, UNBELIEVABLE Fitness Center with indoor pool and water aerobics classes, Spa, Sauna, Massage Rooms, then Softball Stadium, Basketball, Beach Sand Volleyball, Fishing Pier with adjacent sand beach, Destinations Restaurant, Wood Shop, Craft Center, Billards, Movie Theater with Free Movies on Friday (includes popcorn!), Magnolia Banquet Room, Computer Center, Outdoor Amphitheater, Lawn Bowling, Croquet, Horseshoe Pits, Bike/Jogging Track + Preserve!

14. 2008-05-05
    soldstatus $200,000 1003-char remark

    Show marketing remark (1003 chars)

    END UNIT-VIZCAYA MODEL-3 BEDROOMS + 2 BATHS-IN PELICAN PRESERVE THE ULTIMATE 55+ BETTER RESORT LIFESTYLE COMMUNITY IN SW FLORIDA! On the highest possible floor with GORGEOUS 270 degree elevated views with no building to your right! Views are of lake, Residents' Butterfly Garden and Resident's Garden plus the 38-acre onsite Nature Preserve. It's all about the unmatched lifestyle of Pelican Preserve, with unmatched amenities, including: Optional 27 holes of championship golf, 6 lighted-clay Har Tru tennis courts with leagues & Pro + Pro Shop, UNBELIEVABLE Fitness Center with indoor pool and water aerobics classes, Spa, Sauna, Massage Rooms, then Softball Stadium, Basketball, Beach Sand Volleyball, Fishing Pier with adjacent sand beach, Destinations Restaurant, Wood Shop, Craft Center, Billards, Movie Theater with Free Movies on Friday (includes popcorn!), Magnolia Banquet Room, Computer Center, Outdoor Amphitheater, Lawn Bowling, Croquet, Horseshoe Pits, Bike/Jogging Track + Preserve!

15. 2008-01-16
    historical
16. 2007-12-19
    listed $215,500
17. 2007-12-15
    historical
18. 2007-06-29
    listed $215,500

ⓘ 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: $2,473 · $206/mo
• Projected year-2 tax: $2,473 · $206/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 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $57,530
• − Mortgage interest: −$16,239
• − Property taxes: −$2,473
• − Insurance: −$6,568
• − Repairs & maintenance: −$4,602
• − Management: −$4,602
• − HOA: −$10,752
• − Depreciation: −$8,433
• Taxable income: $3,859
• Est. tax owed @ 24.0%: −$926
• After-tax cash flow: $6,486/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ 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: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

+34.5% since first listed

14 events — show timeline

• 2026-04-25 Price Changed $289,900 FORTMLS
• 2026-03-10 Relisted — FORTMLS
• 2026-02-26 Pending — FORTMLS
• 2026-01-31 Relisted — FORTMLS
• 2026-01-31 Price Changed $294,000 FORTMLS
• 2026-01-06 Listing Removed — FORTMLS
• 2025-12-29 Listed $292,000 FORTMLS
• 2008-05-08 Sold (Public Records) $200,000 Public Records
• 2008-05-06 Price Changed $208,000 FORTMLS
• 2008-05-05 Sold (MLS) $200,000 FORTMLS
• 2008-01-16 Listing Removed — FORTMLS
• 2007-12-19 Listed $215,500 FORTMLS
• 2007-12-15 Listing Removed — FORTMLS
• 2007-06-29 Listed $215,500 FORTMLS

Property tax history

+1.4%/yr

Latest (2025): $2,473 · -3.0% YoY. Source: county tax records.