11700 Lakewood Preserve Pl · Fort Myers, FL 33913

$499,900

2 bd · 3.0 ba · 2,023 sqft · Condo public records · 167 Days on market

Built 2021 $428/mo HOA · 9% of rent ↓ 11% since listing

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Why this score? — see what drove the D- 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 +10.6/30.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• DSCR +3.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this exceptional York Model residence, perfectly positioned on a rare corner lot with a private, full-size pool in the prestigious, resort-style gated community of Marina Bay. Designed for effortless Florida living, this thoughtfully crafted home offers 2 bedrooms plus a versatile den, 2.5 baths, and 2,023 square feet of refined living space. Built in 2021 and meticulously upgraded, this move-in-ready home showcases a gourmet kitchen featuring custom cabinetry, quartz countertops, designer tile backsplash, upgraded stainless steel appliances, a spacious walk-in pantry, and enhanced lighting throughout the kitchen and great room. A reverse osmosis system provides premium water fil

Key facts

• Custom cabinetry
• Quartz countertops
• Gourmet kitchen

Tags

• CORNER LOT
• PRIVATE FULL-SIZE POOL
• GOURMET KITCHEN
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• DESIGNER TILE BACKSPLASH

Property features AI

Finance

• Other: Located in the Marina Bay development; Development/Community name: MARINA BAY; Restrictions include architectural controls, deeded restrictions, and no RVs; Approximately 0.1776 acres (total area listed); Part of a large complex with many units (796 units in complex; 2 units in building)
• HOA & community: Mandatory HOA; Quarterly HOA fee; Professional management; HOA maintenance covers insurance, exterior pest control, street lights, and street maintenance; Gated community; Community amenities: clubhouse, community pool, exercise room, community room, basketball, tennis, pickleball, play area, sidewalks, streetlights

Exterior

• Parking: Attached 2-car garage
• Security: Manual shutters
• Utilities: Central water with whole-house reverse osmosis; Central sewer; Cable available
• Home design: Residential property; Villa attached design; 1 story (Ranch); Rear exposure facing west
• Construction: Concrete block construction; Stucco exterior finish; Tile roof; Double-hung windows; Built in 2021
• Exterior features: Patio; Below-ground private pool; Privacy wall; Corner lot; Reclaimed irrigation

Interior

• Kitchen: Island; Pantry; Cooktop (electric); Range; Microwave; Dishwasher; Disposal; Refrigerator/freezer
• Bedrooms: 2 bedrooms plus den
• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom; Master bath with dual sinks and separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Volume ceilings; Walk-in closet; Window coverings; Screened lanai/porch; Split bedroom floor plan
• Laundry & utility: Laundry in residence; Washer; Dryer; Auto garage door; Smoke detector

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $456k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $451k (9.9% below list).
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.7% 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 $4,505/mo this rent would consume 49% 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 $3k of loan paydown is wiped out by about $15k 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 167 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $439,912 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.12%
• DSCR: 0.91
• GRM: 9.2

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: -23.1%
• Equity multiple: 0.23×
• Total profit: $-108,081
• Equity at exit: $74,537

10-year hold

• IRR: -27.7%
• Equity multiple: -0.13×
• Total profit: $-158,457
• Equity at exit: $43,222

Cash invested: $139,972 (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: 9.2×

Monthly cashflow live

• Estimated rent: $4,505 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$549 /mo · $6,584/yr
• Insurance: −$208
• HOA: −$428
• Vacancy / Maint / Mgmt: −$946
• Net cashflow: $-247

Break-even live

Break-even rent $4,818

Max offer price $456,238

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-106	+0% $-247	+5% $-389	+10% $-530
Rent	-10% $-603	-5% $-425	+0% $-247	+5% $-69	+10% $109
Rate	-1.0pp $5	-0.5pp $-120	base $-247	+0.5pp $-377	+1.0pp $-508

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11869 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1646	$5,000	$3.04	24d	1	0.13mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	17d	1	0.16mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	24d	1	0.19mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	24d	1	0.37mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$2,606	$1.97	4d	23	0.42mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	24d	1	0.44mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	24d	1	0.59mi
10271 Glastonbury Cir #102 Fort Myers, FL	2.0	2.0	1550	$4,500	$2.90	24d	1	0.60mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	24d	1	0.71mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	15d	1	0.71mi
12531 Villagio Way Fort Myers, FL	3.0	2.0	1913	$8,500	$4.44	24d	1	0.79mi
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	24d	1	0.80mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	17d	1	0.80mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	24d	1	0.89mi
11012 Castlereagh St Fort Myers, FL	3.0	3.0	2517	$12,000	$4.77	24d	1	0.92mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	24d	1	0.96mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	17d	1	0.96mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	24d	1	1.04mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	24d	1	1.05mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	24d	1	1.07mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	4d	1	1.07mi
11701 Avingston Ter Fort Myers, FL	2.0	2.0	1553	$5,500	$3.54	15d	1	1.08mi
12908 New Market St #201 Fort Myers, FL	3.0	2.5	2198	$3,000	$1.36	24d	1	1.08mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	24d	1	1.11mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	24d	1	1.18mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	24d	1	1.21mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	24d	1	1.23mi
11846 Nalda St Fort Myers, FL	2.0	2.5	1697	$3,000	$1.77	17d	1	1.23mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	24d	1	1.29mi
11850 Liana St #9001 Fort Myers, FL	3.0	2.5	1674	$6,500	$3.88	24d	1	1.30mi
11875 Izarra Way #8711 Fort Myers, FL	2.0	2.5	1452	$6,000	$4.13	24d	1	1.35mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	24d	1	1.35mi
13068 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$2,900	$1.82	15d	1	1.36mi
13071 Georges Cay Pl Fort Myers, FL	3.0	3.0	1600	$3,800	$2.38	24d	1	1.38mi
11908 Izarra Way #7005 Fort Myers, FL	3.0	2.5	1637	$5,500	$3.36	24d	1	1.38mi
13104 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$3,100	$1.95	24d	1	1.41mi
11845 Palba Way #7301 Fort Myers, FL	3.0	2.5	2026	$5,900	$2.91	24d	1	1.42mi
9281 Triana Ter #1 Fort Myers, FL	3.0	2.0	1826	$8,500	$4.65	24d	1	1.42mi
9340 Triana Ter #4 Fort Myers, FL	3.0	3.0	2563	$7,500	$2.93	24d	1	1.43mi
8663 Olinda Way #7507 Fort Myers, FL	2.0	2.5	1452	$2,500	$1.72	24d	1	1.43mi

HOA detail condo

• Monthly dues: $428 · $5,136/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-17
   days on market $499,900 Active 167 DOM
2. 2026-06-16
   days on market $499,900 Active 166 DOM
3. 2026-06-15
   days on market $499,900 Active 165 DOM
4. 2026-06-13
   days on market $499,900 Active 163 DOM
5. 2026-06-10
   days on market $499,900 Active 160 DOM
6. 2026-06-09
   days on market $499,900 Active 159 DOM
7. 2026-06-07
   days on market $499,900 Active 157 DOM
8. 2026-06-02
   days on market $499,900 Active 152 DOM
9. 2026-06-01
   days on market $499,900 Active 151 DOM
10. 2026-06-01
    days on market $499,900 Active 150 DOM
11. 2026-01-01
    listed $499,900 Active
12. 2025-12-18
    historical
13. 2025-10-01
    price $550,000
14. 2025-08-16
    listed $561,000 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: $6,584 · $549/mo
• Projected year-2 tax: $6,584 · $549/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 24 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: $54,066
• − Mortgage interest: −$28,002
• − Property taxes: −$6,584
• − Insurance: −$2,500
• − Repairs & maintenance: −$4,325
• − Management: −$4,325
• − HOA: −$5,136
• − Depreciation: −$14,543
• Taxable loss: −$11,349
• Est. tax savings @ 24.0%: +$2,724
• After-tax cash flow: $-242/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

-10.9% since first listed

4 events — show timeline

• 2026-01-01 Listed $499,900 BEARMLS
• 2025-12-18 Listing Removed — NAPLESMLS
• 2025-10-01 Price Changed $550,000 NAPLESMLS
• 2025-08-16 Listed $561,000 NAPLESMLS

Property tax history

+35.4%/yr

Latest (2025): $6,584 · -7.5% YoY. Source: county tax records.