28010 Grossetto Way · Bonita Springs, FL 34135

$359,000

2 bd · 2.0 ba · 1,534 sqft · Condo public records · 6 Days on market

Built 2004 $367/mo HOA · 9% of rent

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Why this score? — see what drove the C- 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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.8/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged, AI generated or rendered. Welcome to San Remo, a gated enclave within the Palmira Golf Club community, conveniently located just east of Interstate 75 off Bonita Beach Road. This freshly painted 2 bedroom, 2 bath villa offers 1,540 square feet of living space, a two-car garage, and a screened lanai with a calming lake view. Step inside to soaring ceilings and an open, airy feel. The split bedroom design gives guests their own private wing, while the generous master suite is tucked away for quiet mornings and restful nights. A bright kitchen anchors this home for casual meals or entertaining. Slide open the doors to the screened lanai and enjoy

Key facts

• Master suite
• Bright kitchen
• Split bedroom design

Tags

• GATED ENCLAVE
• SCREENED LANAI
• CALMING LAKE VIEW
• SPLIT BEDROOM DESIGN
• MASTER SUITE
• BRIGHT KITCHEN

Property features AI

Finance

• Other: Part of a complex with 342 units; building contains 2 units; Floor count: 1; Subdivision: San Remo
• HOA & community: Mandatory HOA; Professional management; Quarterly master HOA fee; Master HOA fee ($1,102.22 quarterly); Total annual recurring fees $4,408; One-time fee $1,500; Community amenities: Clubhouse, community pool, community room, exercise room, tennis court, pickleball; Lawn/land maintenance and manager provided

Exterior

• Parking: Attached 2-car garage; Auto garage door
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Attached villa (1 story / ranch); Built in 2004; Rear exposure to the west; Stucco exterior; Tile roof; Sliding windows; Manual storm shutters; Concrete block construction; Gated community (San Remo)
• Construction: Concrete block construction; Stucco finish; Tile roof; Built in 2004; One-story
• Exterior features: Patio; Room for pool; Automatic sprinkler system; Lake view; Lake frontage (waterfront); Corner lot

Interior

• Kitchen: Range; Microwave; Dishwasher; Garbage disposal; Refrigerator/freezer; Breakfast bar; Dining (living) area
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Tile; Carpet
• Bathrooms: 2 full bathrooms; Master bath with dual sinks
• Heating & cooling: Central electric heat; Central electric air conditioning
• Interior features: Vaulted ceilings; Window coverings; Pantry; Laundry tub; Central vacuum; Screened lanai/porch; Den/study; Family room; Guest room
• Laundry & utility: Washer; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $359k).
• Cap rate 8.0% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• 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 soft (-0.6%/yr); 835 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $3,885/mo this rent would consume 51% of the median local household income ($91k/yr) (locally 976% 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 $11k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $259k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $359,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.08% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.7

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: -10.7%
• Equity multiple: 0.62×
• Total profit: $-37,794
• Equity at exit: $53,528

10-year hold

• IRR: -6.4%
• Equity multiple: 0.64×
• Total profit: $-35,691
• Equity at exit: $31,040

Cash invested: $100,520 (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 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,885 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$173 /mo · $2,079/yr
• Insurance: −$150
• HOA: −$367
• Vacancy / Maint / Mgmt: −$816
• Net cashflow: $497

Break-even live

Break-even rent $3,256

Max offer price $359,000

Occupancy floor 82%

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28050 Boccaccio Way Bonita Springs, FL	2.0	2.0	1534	$2,600	$1.69	23d	1	0.08mi
28086 Sosta Ln #1 Bonita Springs, FL	2.0	2.0	1402	$2,300	$1.64	3d	1	0.18mi
28008 Sosta Ln #4 Bonita Springs, FL	3.0	2.0	1541	$6,000	$3.89	23d	1	0.32mi
14706 Escalante Way Bonita Springs, FL	3.0	3.0	1868	$2,600	$1.39	23d	1	0.33mi
28719 Alessandria Cir Bonita Springs, FL	3.0	3.0	1868	$2,400	$1.28	23d	1	0.36mi
28576 Alessandria Cir Bonita Springs, FL	3.0	3.0	1868	$2,595	$1.39	19d	1	0.37mi
28000 Quiet Water Way Bonita Springs, FL	3.0	2.0	2174	$6,250	$2.87	23d	1	0.49mi
14099 Tivoli Ter Bonita Springs, FL	3.0	2.0	2205	$3,500	$1.59	13d	1	0.63mi
28495 Villagewalk Blvd Bonita Springs, FL	3.0	3.0	1868	$3,500	$1.87	16d	1	0.79mi
15317 Laughing Gull Ln Bonita Springs, FL	3.0	3.0	1800	$6,700	$3.72	23d	1	0.81mi
15369 Laughing Gull Ln Bonita Springs, FL	3.0	3.0	1868	$4,999	$2.68	23d	1	0.88mi
15107 Auk Way Bonita Springs, FL	3.0	3.0	1868	$6,200	$3.32	21d	1	0.91mi
28068 Cavendish Ct #2310 Bonita Springs, FL	2.0	2.0	1339	$5,500	$4.11	23d	1	0.92mi
28068 Cavendish Ct #2301 Bonita Springs, FL	3.0	2.0	1222	$6,000	$4.91	13d	1	0.92mi
28064 Cavendish Ct #2404 Bonita Springs, FL	2.0	2.0	1076	$5,300	$4.93	23d	1	0.93mi
28751 Xenon Way Bonita Springs, FL	3.0	2.0	1661	$2,650	$1.60	3d	1	0.93mi
28076 Cavendish Ct #2101 Bonita Springs, FL	3.0	2.0	1222	$6,250	$5.11	23d	1	0.94mi
28048 Cavendish Ct #5904 Bonita Springs, FL	2.0	2.0	1446	$6,500	$4.50	21d	1	0.96mi
28869 Vermillion Ln Bonita Springs, FL	2.0	2.0	1534	$4,000	$2.61	16d	1	0.96mi
28207 Islet Trl Bonita Springs, FL	2.0	2.0	1534	$3,300	$2.15	23d	1	0.98mi
15561 Latitude Dr Bonita Springs, FL	3.0	3.0	1868	$5,600	$3.00	23d	1	1.13mi
28648 San Lucas Ln #102 Bonita Springs, FL	2.0	2.0	1940	$8,000	$4.12	23d	1	1.13mi
13962 Southampton Dr #4404 Bonita Springs, FL	2.0	2.0	1446	$6,500	$4.50	23d	1	1.18mi
13520 Southampton Dr Bonita Springs, FL	3.0	2.0	1642	$8,000	$4.87	23d	1	1.22mi
15382 Queen Angel Way Bonita Springs, FL	2.0	2.0	1534	$1,500	$0.98	3d	1	1.32mi
13611 Worthington Way #1312 Bonita Springs, FL	3.0	2.0	1312	$5,500	$4.19	23d	1	1.41mi
28496 Burano Dr Bonita Springs, FL	2.0	2.0	1837	$3,245	$1.77	2d	1	1.41mi
16315 Bonita Landing Cir Bonita Springs, FL	3.0	3.0	2202	$3,950	$1.79	23d	1	1.43mi
13641 Worthington Way #1610 Bonita Springs, FL	2.0	2.0	1204	$5,799	$4.82	21d	1	1.48mi
13641 Worthington Way Bonita Springs, FL	2.0	2.0	1140	$4,150	$3.64	16d	2	1.49mi
13641 Worthington Way Bonita Springs, FL	2.0	2.0	1140	$4,000	$3.51	3d	2	1.49mi

HOA detail condo

• Monthly dues: $367 · $4,404/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $359,000 Active 6 DOM
2. 2026-06-17
   days on market $359,000 Active 5 DOM
3. 2026-06-16
   days on market $359,000 Active 4 DOM
4. 2026-06-15
   days on market $359,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $359,000 Active 1 DOM

ⓘ 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: $2,079 · $173/mo
• Projected year-2 tax: $2,980 · $248/mo
• Expected delta: +$901/yr (+$75/mo · 43.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,624
• − Mortgage interest: −$20,110
• − Property taxes: −$2,079
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,730
• − Management: −$3,730
• − HOA: −$4,404
• − Depreciation: −$10,444
• Taxable income: $333
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $5,884/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 48,252
• Household income: $91,380
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 976.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% 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: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• 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

-97.5% since first listed

3 events — show timeline

• 2026-06-12 Listed $359,000 NAPLESMLS
• 2004-10-07 Sold (Public Records) $259,000 Public Records
• 2002-10-04 Sold (Public Records) $14,176,400 Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,079 · +4.8% YoY. Source: county tax records.