21393 Bella Terra Blvd · Estero, FL 33928

$369,500

3 bd · 2.0 ba · 1,417 sqft · SingleFamily · 5 Days on market

Built 2009 Good condition Garage $261/sqft · 20% below area Est $462k · 20% under $392/mo HOA · 12% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +2.1/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Semi-attached villa with an extended lanai and tranquil nature views in both the front and back! Thoughtfully upgraded, this home features 3 bedrooms plus a versatile flex room ideal as a den, sitting room, or formal dining, 2 bathrooms, and an open concept layout with nearly 1,500 sq. ft. of living space. The updated kitchen offers white wood cabinetry, granite countertops, and upgraded appliances and neutral custom laminate flooring run throughout the home. Additional highlights include updated fans and lighting, bright white interior walls, and an expanded lanai that’s perfect for outdoor entertaining. An inviting option for those seeking a comfortable full-time residence or a sunny winter retreat. You'll also have peace of mind during storm season NOT being in a flood zone, along with having an accordion storm shutter package for added protection. Bella Terra is nestled on 999 acres with half the community dedicated to lakes/preserves and home to a variety of native Florida wildlife. Bella Terra has a Resort-style Clubhouse, 24 hr fitness center, activities for all ages, resort-style pool and spa, shaded children's play area, tennis, pickle ball, bocce ball, sand volleyball, multi-use sports fields, tranquil butterfly garden, exercise trails and more.

Key facts

• Newer a/c
• Updated kitchen
• Extended lanai

Tags

• EXTENDED LANAI
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• NEWER A/C
• RESORT STYLE CLUBHOUSE
• 24 HOUR FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $370k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-458 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (14.8% below list).
• Recommended offer: $303k (17.9% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.2% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Pinewoods Elementary School (math 81% / reading 74%, grade A, #163 of 2,144 statewide, top 8%, 1,089 students, 25% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 39% FRL vs 57% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.4%/yr); 879 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 37% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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; severe 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 $303,282 (17.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.31%
• DSCR: 0.76
• GRM: 9.8

CMA / ARV

• ARV (median comp): $461,601
• List price: $369,500
• Delta: -19.95%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21298 Bella Terra Blvd	0.17mi	2/2.0 (-1)	1,564 (+10%)	6mo	$345,000	$221	65
21021 Bella Terra Blvd	0.41mi	3/2.0	1,677 (+18%)	0mo	$457,500	$273	56
13277 Boccala Ln	0.17mi	2/2.0 (-1)	1,564 (+10%)	18mo	$410,000	$262	55
21187 Bella Terra Blvd	0.41mi	3/2.0	1,677 (+18%)	5mo	$455,000	$271	51
13900 Cleto Dr	0.85mi	2/2.0 (-1)	1,711 (+21%)	30mo	$500,000	$292	15
13811 Cleto Dr	1.00mi	2/2.0 (-1)	1,709 (+21%)	32mo	$480,000	$281	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.3%
• Equity multiple: 0.05×
• Total profit: $-97,961
• Equity at exit: $55,094

10-year hold

• IRR: -52.6%
• Equity multiple: -0.52×
• Total profit: $-157,329
• Equity at exit: $31,948

Cash invested: $103,460 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 5 under contract
• Months of supply: 2.0 mo (50%/mo absorbed)
• Median asking: $354,900 ($250/sqft)
• Median days on market: 15 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +30.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33928

• Rents YoY: -1.4%
• Active inventory: 879
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,149 high
• Mortgage (P&I): −$1,938
• Tax est. 1.5%: −$462 /mo · $5,542/yr
• Insurance: −$154
• HOA: −$392
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $-458

Break-even live

Break-even rent $3,729

Max offer price $303,282

Occupancy floor —

Sensitivity live

Price	-10% $-202	-5% $-330	+0% $-458	+5% $-585	+10% $-713
Rent	-10% $-706	-5% $-582	+0% $-458	+5% $-333	+10% $-209
Rate	-1.0pp $-272	-0.5pp $-364	base $-458	+0.5pp $-553	+1.0pp $-651

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: $92,375
• Closing costs: $11,085
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21294 Bella Terra Blvd Estero, FL	2.0	2.0	1564	$2,400	$1.53	0d	1	0.19mi
13509 San Georgio Dr Estero, FL	3.0	2.0	1677	$2,950	$1.76	9d	1	0.91mi
13672 Troia Dr Estero, FL	2.0	2.0	1669	$5,200	$3.12	119d	1	1.00mi
13672 Troia Dr Estero, FL	2.0	2.0	1669	$5,200	$3.12	9d	1	1.00mi
13696 Troia Dr Estero, FL	3.0	2.0	1669	$2,850	$1.71	9d	1	1.01mi
20552 Ardore Ln Estero, FL	3.0	2.0	1705	$3,000	$1.76	119d	1	1.09mi

Property features AI

Finance

• Other: Property is part of Bella Terra developmentBuilding contains 2 units; this is one unit per building on a single floor
• Financial info: Total one-time fees and annual recurring fees apply
• HOA & community: Mandatory HOAQuarterly HOA feesMaster HOA quarterly feeProfessional managementHOA covers cable, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserves, security, street lights, and street maintenanceCommunity amenities include clubhouse, community pool and spa, exercise room, tennis, pickleball, basketball, bocce, volleyball, bike/jog paths, and play areaCommunity is gated and has a tennis-focused community typeOne-time mandatory club fee and other one-time fees required

Exterior

• Parking: Attached garage with 2 garage spaces2+ deeded parking spaces
• Security: Gated community (community provides security services)
• Utilities: Central waterCentral sewerCable available
• Home design: Attached villa (1 story/ranch)Rear exposure facing northwest
• Construction: Built in 2009Concrete block constructionStucco exteriorTile roofSingle-hung and sliding windowsExterior shutters
• Exterior features: Private roadAutomatic sprinkler systemPreserve viewIrrigation from lake/canal

Interior

• Kitchen: RangeMicrowaveDishwasherDisposalRefrigeratorPantry
• Bedrooms: 3 bedrooms plus den
• Flooring: Laminate flooring
• Bathrooms: 2 full bathroomsMaster bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heatCentral electric air conditioningCeiling fans
• Interior features: BarCable prewireFoyerHigh-speed internet availablePantryVolume ceilingWindow coveringsBreakfast bar / dining (family)Den (study)Family roomGreat roomGuest bathGuest roomScreened lanai/porch
• Laundry & utility: Washer and dryer in residenceAuto garage doorSmoke detector

HOA detail $392/mo · $4,704/yr

• Likely covers: poolgym

Listing history 12 events

1. 2026-09-23
   days on market $369,500 Active 5 DOM
2. 2026-09-22
   days on market $369,500 Active 4 DOM
3. 2026-09-21
   days on market $369,500 Active 3 DOM
4. 2026-09-20
   days on market $369,500 Active 2 DOM
5. 2026-09-18
   statusdays on marketlisting id $369,500 Active 1 DOM
6. 2026-06-08
   status $369,500 Pending 15 DOM

   Show marketing remark (1282 chars)

   Semi-attached villa with an extended lanai and tranquil nature views in both the front and back! Thoughtfully upgraded, this home features 3 bedrooms plus a versatile flex room ideal as a den, sitting room, or formal dining, 2 bathrooms, and an open concept layout with nearly 1,500 sq. ft. of living space. The updated kitchen offers white wood cabinetry, granite countertops, and upgraded appliances and neutral custom laminate flooring run throughout the home. Additional highlights include updated fans and lighting, bright white interior walls, and an expanded lanai that’s perfect for outdoor entertaining. An inviting option for those seeking a comfortable full-time residence or a sunny winter retreat. You'll also have peace of mind during storm season NOT being in a flood zone, along with having an accordion storm shutter package for added protection. Bella Terra is nestled on 999 acres with half the community dedicated to lakes/preserves and home to a variety of native Florida wildlife. Bella Terra has a Resort-style Clubhouse, 24 hr fitness center, activities for all ages, resort-style pool and spa, shaded children's play area, tennis, pickle ball, bocce ball, sand volleyball, multi-use sports fields, tranquil butterfly garden, exercise trails and more.

7. 2026-06-07
   days on market $369,500 Active 15 DOM
8. 2026-06-03
   days on market $369,500 Active 11 DOM
9. 2026-06-02
   days on market $369,500 Active 10 DOM
10. 2026-06-01
    days on market $369,500 Active 9 DOM
11. 2026-05-31
    days on market $369,500 Active 8 DOM
12. 2026-05-23
    listed $369,500 Active

    Show marketing remark (1282 chars)

    Semi-attached villa with an extended lanai and tranquil nature views in both the front and back! Thoughtfully upgraded, this home features 3 bedrooms plus a versatile flex room ideal as a den, sitting room, or formal dining, 2 bathrooms, and an open concept layout with nearly 1,500 sq. ft. of living space. The updated kitchen offers white wood cabinetry, granite countertops, and upgraded appliances and neutral custom laminate flooring run throughout the home. Additional highlights include updated fans and lighting, bright white interior walls, and an expanded lanai that’s perfect for outdoor entertaining. An inviting option for those seeking a comfortable full-time residence or a sunny winter retreat. You'll also have peace of mind during storm season NOT being in a flood zone, along with having an accordion storm shutter package for added protection. Bella Terra is nestled on 999 acres with half the community dedicated to lakes/preserves and home to a variety of native Florida wildlife. Bella Terra has a Resort-style Clubhouse, 24 hr fitness center, activities for all ages, resort-style pool and spa, shaded children's play area, tennis, pickle ball, bocce ball, sand volleyball, multi-use sports fields, tranquil butterfly garden, exercise trails and more.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 9/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,791
• − Mortgage interest: −$20,698
• − Property taxes: −$5,542
• − Insurance: −$1,848
• − Repairs & maintenance: −$3,023
• − Management: −$3,023
• − HOA: −$4,704
• − Depreciation: −$10,749
• Taxable loss: −$11,796
• Est. tax savings @ 24.0%: +$2,831
• After-tax cash flow: $-2,660/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.

Condition & rehab AI · 30 photos

Good 80/100 Cosmetic rehab Est. rehab $7,085–$21,255 screening

This well-maintained, updated single-family home with a spacious lanai and neutral interior is ready for move-in. It offers a good balance of curb appeal and interior comfort, making it an attractive option for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and outdoor living space ↑
• Both furniture — adds comfort and functionality to the living spaces ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Bonita Springs Elementary School C- FL #976/2,144 Nat'l #11,114/41,679 Middle Bonita Springs Middle Center For The Arts C+ FL #209/571 Nat'l #2,873/14,009 High Estero High School D FL #179/667 Nat'l #5,677/17,239

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

B Composite livability gradescore 79/100

Livability — Estero

• Score: 79/100
• State rank: #149
• US rank: #2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estero, FL
• County: Lee County · 871,946 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 1%

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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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Property is part of Bella Terra developmentBuilding contains 2 units; this is one unit per building on a single floor
• Financial info: Total one-time fees and annual recurring fees apply
• HOA & community: Mandatory HOAQuarterly HOA feesMaster HOA quarterly feeProfessional managementHOA covers cable, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserves, security, street lights, and street maintenanceCommunity amenities include clubhouse, community pool and spa, exercise room, tennis, pickleball, basketball, bocce, volleyball, bike/jog paths, and play areaCommunity is gated and has a tennis-focused community typeOne-time mandatory club fee and other one-time fees required

Exterior

• Parking: Attached garage with 2 garage spaces2+ deeded parking spaces
• Security: Gated community (community provides security services)
• Utilities: Central waterCentral sewerCable available
• Home design: Attached villa (1 story/ranch)Rear exposure facing northwest
• Construction: Built in 2009Concrete block constructionStucco exteriorTile roofSingle-hung and sliding windowsExterior shutters
• Exterior features: Private roadAutomatic sprinkler systemPreserve viewIrrigation from lake/canal

Interior

• Kitchen: RangeMicrowaveDishwasherDisposalRefrigeratorPantry
• Bedrooms: 3 bedrooms plus den
• Flooring: Laminate flooring
• Bathrooms: 2 full bathroomsMaster bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heatCentral electric air conditioningCeiling fans
• Interior features: BarCable prewireFoyerHigh-speed internet availablePantryVolume ceilingWindow coveringsBreakfast bar / dining (family)Den (study)Family roomGreat roomGuest bathGuest roomScreened lanai/porch
• Laundry & utility: Washer and dryer in residenceAuto garage doorSmoke detector

Price history

+0.0% since first listed

4 events — show timeline

• 2026-09-18 Listed $369,500 BEARMLS
• 2026-07-21 Sold (MLS) $350,000 BEARMLS
• 2026-06-08 Pending — BEARMLS
• 2026-05-23 Listed $369,500 BEARMLS