11812 Five Waters Cir · Fort Myers, FL 33913

$399,900

2 bd · 2.0 ba · 1,646 sqft · Condo public records · 52 Days on market

Built 2017 $393/mo HOA · 9% 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).

• Cash flow +16.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• DSCR +5.0/10.0
• 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 MLS

Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

Key facts

• Dual walk in closets
• Large owner's suite
• Large screened patio

Tags

• GREAT ROOM FLOOR PLAN
• LARGE OWNER'S SUITE
• DUAL WALK IN CLOSETS
• LARGE SCREENED PATIO
• FULLY-EQUIPPED FITNESS CENTER
• INDOOR SPORTS COURT

Property features AI

Finance

• Other: Pets allowed (call/conditional)
• Financial info: Association fee: $393 monthly
• HOA & community: Homeowners association with monthly fee; HOA covers association management, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance and security; Community amenities include gated entry, street lights, clubhouse, fitness center, pool, spa/hot tub, sauna, tennis courts, pickleball, basketball court, playground, park, trails, sidewalks, billiards/hobby room and management

Exterior

• Parking: Attached garage with garage door opener; 2 covered garage spaces
• Security: Security system; Smoke detector(s)
• Utilities: Public water (assessment paid); Public sewer (assessment paid); Cable available; High-speed internet available; Underground utilities
• Home design: Single-story; Block, concrete, stucco construction; Tile roof; Resale property; Faces northeast
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Lanai; Porch; Screened porch; Shutters (manual); Sprinkler/irrigation (automatic); Paved road; Southwest exposure; Lake view / waterfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Self-cleaning oven; Refrigerator
• Bedrooms: Den; Great room
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Separate shower
• Heating & cooling: Central electric heat; Ceiling fan(s)
• Interior features: High ceilings; Family/Dining room; Living/Dining room; Pantry; Dual sinks; Separate shower (shower only); Walk-in closet(s); Cable TV; Window treatments; Air filtration; Unfurnished; Single hung and sliding windows
• Laundry & utility: Washer; Dryer; Laundry inside; Air purifier

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 24d 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 $4,297/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 $3k of loan paydown is wiped out by about $12k 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 52 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $289k; 38% 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; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.07% ✓
• Cap rate: 6.89%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• GRM: 7.8

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: -16.2%
• Equity multiple: 0.44×
• Total profit: $-62,784
• Equity at exit: $59,626

10-year hold

• IRR: -14.4%
• Equity multiple: 0.29×
• Total profit: $-80,028
• Equity at exit: $34,576

Cash invested: $111,972 (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: 7.8×

Monthly cashflow live

• Estimated rent: $4,297 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$538 /mo · $6,451/yr
• Insurance: −$167
• HOA: −$393
• Vacancy / Maint / Mgmt: −$902
• Net cashflow: $200

Break-even live

Break-even rent $4,043

Max offer price $399,900

Occupancy floor 90%

Sensitivity live

Price	-10% $427	-5% $314	+0% $200	+5% $87	+10% $-26
Rent	-10% $-139	-5% $31	+0% $200	+5% $370	+10% $540
Rate	-1.0pp $402	-0.5pp $302	base $200	+0.5pp $97	+1.0pp $-9

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	24d	1	0.11mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	16d	1	0.21mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	24d	1	0.23mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$2,606	$1.97	3d	23	0.32mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	24d	1	0.33mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	24d	1	0.35mi
11869 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1646	$5,000	$3.04	24d	1	0.37mi
10271 Glastonbury Cir #102 Fort Myers, FL	2.0	2.0	1550	$4,500	$2.90	24d	1	0.46mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	24d	1	0.47mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	15d	1	0.47mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	3d	1	0.53mi
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	24d	1	0.55mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.55mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	24d	1	0.63mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	16d	1	0.72mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	24d	1	0.82mi
11701 Avingston Ter Fort Myers, FL	2.0	2.0	1553	$5,500	$3.54	15d	1	0.83mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	16d	1	0.88mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	24d	1	0.88mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	24d	1	0.97mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	3d	1	1.01mi
12908 New Market St #201 Fort Myers, FL	3.0	2.5	2198	$3,000	$1.36	24d	1	1.01mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	24d	1	1.02mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	24d	1	1.03mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	24d	1	1.04mi
12531 Villagio Way Fort Myers, FL	3.0	2.0	1913	$8,500	$4.44	24d	1	1.04mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	1.06mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	24d	1	1.11mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	12d	1	1.13mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	1.16mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	1.16mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	1.16mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	24d	1	1.17mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	1.18mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	24d	1	1.19mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	1.21mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	24d	1	1.21mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	24d	1	1.22mi
11442 Tiverton Trce Fort Myers, FL	3.0	2.0	2010	$9,500	$4.73	24d	1	1.24mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	24d	1	1.25mi

HOA detail condo

• Monthly dues: $393 · $4,716/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-16
   status $399,900 Pending 52 DOM
2. 2026-06-15
   days on market $399,900 Active 52 DOM
3. 2026-06-13
   days on market $399,900 Active 50 DOM
4. 2026-06-10
   days on market $399,900 Active 47 DOM
5. 2026-06-09
   days on market $399,900 Active 46 DOM
6. 2026-06-08
   days on market $399,900 Active 45 DOM
7. 2026-06-07
   days on market $399,900 Active 44 DOM
8. 2026-06-03
   days on market $399,900 Active 40 DOM
9. 2026-06-02
   days on market $399,900 Active 39 DOM
10. 2026-06-01
    days on market $399,900 Active 38 DOM
11. 2026-05-31
    days on market $399,900 Active 37 DOM
12. 2026-05-04
    price $399,900
13. 2026-04-24
    listed $407,000 Active
14. 2017-05-31
    soldstatus $288,900 Sold 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

15. 2017-05-23
    status Pending 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

16. 2017-04-08
    price $289,900 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

17. 2017-03-03
    price $291,900 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

18. 2017-03-01
    status Active 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

19. 2017-01-27
    status Pending 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

20. 2017-01-05
    listed $296,900 Active 1153-char remark

    Show marketing remark (1153 chars)

    Available Immediately. Absolutely Beautiful Nantucket model, Builder already reduced price by over $15,000. Perfect for a first time buyer or for those ready to downsize! This home features Great Room floor plan with Formal Dining area, Two Bedroom plus a den, including the large owner's suite with dual walk in closets and bath with dual sinks, plus large shower and water closet. Two car garage and a large screened Patio. Marina Bay's clubhouse offers a fully-equipped fitness center, aerobics studio, indoor sports court, social hall, catering kitchen, game room, card room and outdoor amenities, like a resort-style pool, lap pool, tennis, pickle-ball, and party pavilion. Minutes away are gourmet restaurants, major roadways, airports, and beautiful Gulf Coast beaches. Close to great attractions like spring training. Popular shopping destinations like Gulf Coast Town, Miromar Outlets, and Bell Tower Shops. Great schools, gorgeous parks, medical facilities and everyday conveniences such as banks, salons, and grocery stores also surround Marina Bay. Prices are subject to increase without notice. PHOTOS MIGHT BE STOCK AND FOR REFERENCE ONLY!

ⓘ 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: $6,451 · $538/mo
• Projected year-2 tax: $6,451 · $538/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $51,567
• − Mortgage interest: −$22,401
• − Property taxes: −$6,451
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,125
• − Management: −$4,125
• − HOA: −$4,716
• − Depreciation: −$11,633
• Taxable loss: −$3,885
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $3,338/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

+34.7% since first listed

9 events — show timeline

• 2026-05-04 Price Changed $399,900 FORTMLS
• 2026-04-24 Listed $407,000 FORTMLS
• 2017-05-31 Sold (MLS) $288,900 FORTMLS
• 2017-05-23 Pending — FORTMLS
• 2017-04-08 Price Changed $289,900 FORTMLS
• 2017-03-03 Price Changed $291,900 FORTMLS
• 2017-03-01 Relisted — FORTMLS
• 2017-01-27 Pending — FORTMLS
• 2017-01-05 Listed $296,900 FORTMLS

Property tax history

+21.7%/yr

Latest (2025): $6,451 · -0.9% YoY. Source: county tax records.