20887 Villareal Way · North Fort Myers, FL 33917

$249,500

2 bd · 2.0 ba · 1,183 sqft · SingleFamily public records · 50 Days on market

Built 1993 6,403 sqft lot $242/mo HOA · 8% 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

Key facts

• 6,403 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Community size: 1,380 units; Lot is rectangular with pond on lot; Private road frontage (paved); private and public maintained road responsibilities; Lot dimensions approx. 59 x 110 x 59 x 111
• Financial info: Pets allowed with conditions (maximum 3)
• HOA & community: Homeowners association (quarterly fee); Association fee includes cable TV, internet, golf, irrigation water, grounds maintenance, road maintenance, sewer, street lights, and trash; Community amenities: clubhouse, fitness center, golf course, putting greens, bocce, pickleball, tennis, shuffleboard, pool, spa/hot tub, restaurant, billiards/hobby/library rooms, sidewalks, management

Exterior

• Parking: Attached garage; 2 garage spaces; Assigned parking; Garage door opener; Two covered spaces
• Security: Gated community with guard; Security gate; Security guard; Smoke detectors
• Utilities: Cable available; High-speed internet available; Natural gas available; Underground utilities; Sewer assessment paid; Water assessment paid
• Home design: Single-story home; Entry level 1; Resale property; Faces east; West exposure on lot
• Construction: Block, concrete, and stucco construction; Tile roof; Built on foundation (standard)
• Exterior features: Courtyard; Lanai; Patio (screened); Porch; Outdoor grill / gas grill; Storage; Sprinkler/irrigation (automatic); Patio; Community pool

Interior

• Kitchen: Dishwasher; Range; Self-cleaning oven; Microwave; Refrigerator with ice maker; Freezer; Disposal; Icemaker; Kitchen island; Pantry; Breakfast bar; Eat-in kitchen
• Bedrooms: Guest quarters; Exercise room; Screened porch
• Flooring: Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Attic; Breakfast bar; Bathtub; Dual sinks; Eat-in kitchen; Kitchen island; Open living/dining area; Main level primary; Pantry; Pull-down attic stairs; Separate shower; Cable TV; High-speed internet; Single-hung windows; Furnished
• Laundry & utility: Washer; Dryer; Laundry tub; Laundry in garage; Tankless water heater

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.6% in North 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, 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.
• Market conditions: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,099/mo this rent would consume 68% of the median local household income ($55k/yr) (locally 775% 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 50 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $100k; list at $250k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,015 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-14,411
• Equity at exit: $37,201

10-year hold

• IRR: 3.7%
• Equity multiple: 1.26×
• Total profit: $18,397
• Equity at exit: $21,572

Cash invested: $69,860 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,099 high
• Mortgage (P&I): −$1,308
• Tax from tax record: −$246 /mo · $2,947/yr
• Insurance: −$104
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $423

Break-even live

Break-even rent $2,564

Max offer price $249,500

Occupancy floor 81%

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: $62,375
• Closing costs: $7,485
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	23d	1	0.04mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	23d	1	0.14mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	14d	1	0.35mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	23d	1	0.44mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	15d	1	0.44mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	21d	1	0.73mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	15d	1	0.73mi
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	23d	1	1.32mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	23d	1	1.40mi

HOA detail

• Monthly dues: $242 · $2,904/yr

Listing history 13 events

1. 2026-04-07
   historical
2. 2026-04-06
   listed $249,500 Active
3. 2026-03-05
   price $229,000
4. 2026-01-02
   price $249,500
5. 2025-11-02
   listed $262,000 Active
6. 2019-01-16
   soldstatus $99,750
7. 2018-12-20
   soldstatus $99,750 Sold 146-char remark

   Show marketing remark (146 chars)

   Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

8. 2018-11-12
   status Pending 146-char remark

   Show marketing remark (146 chars)

   Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

9. 2018-08-22
   price $124,000 146-char remark

   Show marketing remark (146 chars)

   Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

10. 2018-08-03
    price $134,000 146-char remark

    Show marketing remark (146 chars)

    Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

11. 2018-08-02
    price $144,000 146-char remark

    Show marketing remark (146 chars)

    Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

12. 2018-03-29
    listed $160,000 Active 146-char remark

    Show marketing remark (146 chars)

    Priced to sell home!!!! This wont last long. Property needs a little fixer upper, but can be a great opportunity to make this into the dream home.

13. 1993-12-14
    soldstatus $118,600

ⓘ 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: $2,947 · $246/mo
• Projected year-2 tax: $2,947 · $246/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $37,186
• − Mortgage interest: −$13,976
• − Property taxes: −$2,947
• − Insurance: −$2,750
• − Repairs & maintenance: −$2,975
• − Management: −$2,975
• − HOA: −$2,904
• − Depreciation: −$7,258
• Taxable income: $1,401
• Est. tax owed @ 24.0%: −$336
• After-tax cash flow: $4,739/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

+110.4% since first listed

13 events — show timeline

• 2026-04-07 Listing Removed — FORTMLS
• 2026-04-06 Listed $249,500 FORTMLS
• 2026-03-05 Price Changed $229,000 FORTMLS
• 2026-01-02 Price Changed $249,500 FORTMLS
• 2025-11-02 Listed $262,000 FORTMLS
• 2019-01-16 Sold (Public Records) $99,750 Public Records
• 2018-12-20 Sold (MLS) $99,750 FORTMLS
• 2018-11-12 Pending — FORTMLS
• 2018-08-22 Price Changed $124,000 FORTMLS
• 2018-08-03 Price Changed $134,000 FORTMLS
• 2018-08-02 Price Changed $144,000 FORTMLS
• 2018-03-29 Listed $160,000 FORTMLS
• 1993-12-14 Sold (Public Records) $118,600 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,947 · +3.3% YoY. Source: county tax records.