10550 Amiata Way #303 · Fort Myers, FL 33913

$249,900

2 bd · 2.0 ba · 1,248 sqft · Condo public records · 105 Days on market

Built 2006 $889/mo HOA · 21% of rent ↓ 18% since listing

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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 +26.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• 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

TurnKEY 2/2 condo, just a short walk or bike ride to the prestigious 55+ Pelican Preserve Town Center. Meander along the paved trails or the enchanting raised boardwalk through the 38-acre Audubon Gold Certified Preserve. Step inside to embrace the open, light-filled design that encompasses 2 spacious bedrooms, a storage room, and a covered carport. The modern kitchen boasts brand new stainless-steel appliances, inviting you to culinary creations. Freshly painted to brighten for a new look! NEW 2026 AC With a TRANSFERRABLE 10 YEAR WARRANTY AND A 2 YEAR SERVICE PLAN Ensuring Year-Round comfort! Pelican Preserve sets the stage for an unparalleled lifestyle. Engage in organized sports like ten

Key facts

• Paved trails
• New 2026 ac
• Raised boardwalk

Tags

• PAVED TRAILS
• RAISED BOARDWALK
• MODERN KITCHEN
• STAINLESS-STEEL APPLIANCES
• NEW 2026 AC
• TRANSFERRABLE 10 YEAR WARRANTY

Property features AI

Finance

• Financial info: Pets allowed conditionally (call); up to 2 pets, maximum 40 lbs
• HOA & community: Homeowners association (quarterly fee); Association fee covers golf, internet, irrigation water, legal/accounting, grounds maintenance, street lights, trash; Community amenities include bocce court, boat dock, boat ramp, bike storage, golf course, media room, pickleball, pool, restaurant, spa/hot tub, sidewalks, tennis courts, trails, trash service; On-site management; Elevator; Gated community; Senior community; 96 units in community

Exterior

• Parking: Assigned parking; Detached carport; One covered space (carport)
• Security: Gated community with guard; Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Condo / Multi-story building (4 stories); Entry level is 3; North-facing; Resale property
• Construction: Stucco construction; Shingle roof
• Exterior features: Lanai; Porch; Screened porch; Water feature; Waterfront across the road; South exposure

Interior

• Kitchen: Electric cooktop; Range; Microwave; Dishwasher; Disposal; Freezer
• Bedrooms: Split bedroom layout
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Eat-in kitchen; High ceilings; Living/dining room; Pantry; Separate shower (shower only); Window treatments; High-speed internet; Split bedrooms; Single-hung windows; Window coverings; Furnished
• Laundry & utility: Washer hookup inside; Dryer hookup inside; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 36 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 $4,283/mo this rent would consume 47% 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 $7k 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 105 days — a 9% lower offer ($227k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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: 1.71% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.84%
• DSCR: 1.48
• GRM: 4.9

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: -15.7%
• Equity multiple: 0.46×
• Total profit: $-37,503
• Equity at exit: $37,261

10-year hold

• IRR: -18.4%
• Equity multiple: 0.22×
• Total profit: $-54,924
• Equity at exit: $21,607

Cash invested: $69,972 (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: 4.9×

Monthly cashflow live

• Estimated rent: $4,283 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$448 /mo · $5,379/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$889
• Vacancy / Maint / Mgmt: −$899
• Net cashflow: $205

Break-even live

Break-even rent $4,023

Max offer price $249,900

Occupancy floor 90%

Sensitivity live

Price	-10% $347	-5% $276	+0% $205	+5% $135	+10% $64
Rent	-10% $-133	-5% $36	+0% $205	+5% $375	+10% $544
Rate	-1.0pp $331	-0.5pp $269	base $205	+0.5pp $141	+1.0pp $75

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	24d	1	0.11mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	24d	2	0.19mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	24d	1	0.20mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	24d	1	0.28mi
9217 Aviano Dr Fort Myers, FL	2.0	2.0	1227	$2,500	$2.04	12d	1	0.53mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	15d	1	0.53mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	14d	1	0.53mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	4d	1	0.65mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	24d	1	0.65mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	24d	1	0.73mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	24d	1	0.73mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	15d	1	0.73mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	24d	1	0.80mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	24d	1	0.81mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	24d	1	0.85mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	24d	1	0.99mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	1.01mi
10800 Colonial Gateway Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1028	$1,956	$1.90	2d	106	1.01mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	12d	1	1.03mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	4d	1	1.08mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	24d	1	1.12mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	22d	1	1.14mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	17d	2	1.21mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	22d	1	1.21mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	24d	1	1.23mi
3100 Champion Ring Rd Fort Myers, FL	1.0–3.0	1.0–2.0	947	$1,641	$1.73	3d	19	1.26mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	1.26mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	1.29mi
3419 Forum Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	1049	$1,675	$1.60	4d	17	1.30mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	24d	1	1.35mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	24d	1	1.37mi
11205 Colonial Gateway Dr Fort Myers, FL	1.0–4.0	1.0–3.0	1375	$2,224	$1.62	2d	44	1.41mi
3247 Forum Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	1071	$1,720	$1.61	2d	22	1.44mi
9460 Ivy Brook Run #710 Fort Myers, FL	3.0	2.5	1220	$1,500	$1.23	12d	1	1.48mi
9440 Ivy Brook Run #509 Fort Myers, FL	3.0	2.5	1220	$1,500	$1.23	4d	1	1.50mi
9440 Ivy Brook Run Fort Myers, FL	2.0–3.0	2.5	1269	$1,550	$1.22	24d	2	1.50mi

HOA detail condo

• Monthly dues: $889 · $10,668/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-17
   days on market $249,900 Active 105 DOM
2. 2026-06-16
   days on market $249,900 Active 104 DOM
3. 2026-06-15
   days on market $249,900 Active 103 DOM
4. 2026-06-13
   days on market $249,900 Active 101 DOM
5. 2026-06-10
   days on market $249,900 Active 98 DOM
6. 2026-06-09
   days on market $249,900 Active 97 DOM
7. 2026-06-07
   days on market $249,900 Active 95 DOM
8. 2026-06-02
   days on market $249,900 Active 90 DOM
9. 2026-06-01
   days on market $249,900 Active 89 DOM
10. 2026-06-01
    days on market $249,900 Active 88 DOM
11. 2026-03-03
    listed $249,900 Active
12. 2026-03-02
    historical
13. 2026-01-29
    status Active
14. 2025-12-28
    price $249,900
15. 2025-12-28
    historical
16. 2025-12-15
    price $239,000
17. 2025-12-04
    price $249,000
18. 2025-11-12
    price $259,000
19. 2025-10-28
    price $279,000
20. 2025-09-09
    listed $299,000 Active
21. 2025-04-16
    historical
22. 2025-02-22
    price $299,900
23. 2024-12-28
    price $319,000
24. 2024-10-22
    price $329,000
25. 2024-08-10
    listed $299,900 Active
26. 2023-10-16
    soldstatus $310,000
27. 2023-10-13
    soldstatus $310,000 Closed
28. 2023-08-28
    status Pending
29. 2023-08-09
    listed $320,000 Active
30. 2022-03-07
    soldstatus $285,000
31. 2022-03-04
    soldstatus $285,000 Closed
32. 2022-01-02
    status Pending
33. 2021-12-12
    listed $304,000 Active

ⓘ 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: $5,379 · $448/mo
• Projected year-2 tax: $5,379 · $448/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 22 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: $51,400
• − Mortgage interest: −$13,998
• − Property taxes: −$5,379
• − Insurance: −$6,368
• − Repairs & maintenance: −$4,112
• − Management: −$4,112
• − HOA: −$10,668
• − Depreciation: −$7,270
• Taxable loss: −$508
• Est. tax savings @ 24.0%: +$122
• After-tax cash flow: $2,586/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

-17.8% since first listed

23 events — show timeline

• 2026-03-03 Listed $249,900 FORTMLS
• 2026-03-02 Listing Removed — FORTMLS
• 2026-01-29 Relisted — FORTMLS
• 2025-12-28 Listing Removed — FORTMLS
• 2025-12-28 Price Changed $249,900 FORTMLS
• 2025-12-15 Price Changed $239,000 FORTMLS
• 2025-12-04 Price Changed $249,000 FORTMLS
• 2025-11-12 Price Changed $259,000 FORTMLS
• 2025-10-28 Price Changed $279,000 FORTMLS
• 2025-09-09 Listed $299,000 FORTMLS
• 2025-04-16 Listing Removed — FORTMLS
• 2025-02-22 Price Changed $299,900 BEARMLS
• 2024-12-28 Price Changed $319,000 BEARMLS
• 2024-10-22 Price Changed $329,000 BEARMLS
• 2024-08-10 Listed $299,900 FORTMLS
• 2023-10-16 Sold (Public Records) $310,000 Public Records
• 2023-10-13 Sold (MLS) $310,000 FORTMLS
• 2023-08-28 Pending — FORTMLS
• 2023-08-09 Listed $320,000 FORTMLS
• 2022-03-07 Sold (Public Records) $285,000 Public Records
• 2022-03-04 Sold (MLS) $285,000 FORTMLS
• 2022-01-02 Pending — FORTMLS
• 2021-12-12 Listed $304,000 FORTMLS

Property tax history

+5.1%/yr

Latest (2025): $5,379 · -5.3% YoY. Source: county tax records.