20050 Seagrove St #1705 · Estero, FL 33928

$389,000

3 bd · 2.0 ba · 1,736 sqft · Condo public records · 13 Days on market

Built 2003 $1113/mo HOA · 18% of rent

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Why this score? — see what drove the B- 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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience style and modern comfort in this impeccably maintained 3-bedroom, 2-bath condo with an attached garage, perfectly situated within the popular Sabal Palm community at Grandezza Country Club. Blending traditional warmth with contemporary finishes, this home offers an inviting atmosphere enhanced by serene water and golf course views! An open-concept layout creates effortless flow throughout the main living spaces, where abundant natural light and tranquil outdoor vista set a relaxing tone. The well appointed eat-in-kitchen anchors the home with modern cabinetry, quartz countertops, updated appliances, and generous counter space - ideal for the chef in the family. The spacious prima

Key facts

• Quartz countertops
• Water views
• Eat-in-kitchen

Tags

• WATER VIEWS
• GOLF COURSE VIEWS
• OPEN-CONCEPT LAYOUT
• EAT-IN-KITCHEN
• MODERN CABINETRY
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Subdivision/section identifiers and community directions provided by listing
• Financial info: Total annual recurring fees and one-time fees assessed by association
• HOA & community: Mandatory HOA with professional management; Condo fee applies (quarterly); One-time and recurring mandatory club fees required; Community amenities include clubhouse, community pool, exercise/fitness center, tennis, basketball, bocce court, putting green, golf course (non-equity), restaurant, cabana, business center and private membership options; Maintenance covers internet/WiFi access, legal/accounting, exterior pest control, sewer and street lights; Underground utilities, sidewalks and streetlights in community

Exterior

• Parking: Covered parking and paved driveway; Attached 2-car garage with automatic garage door
• Security: Gated community with guard at gate and patrol service
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in a low-rise (1–3) community; 2-story building; Rear exposure to the west; Located in the GRANDEZZA development
• Construction: Poured concrete construction; Tile roof; Built in 2003
• Exterior features: Pond on the property; Storm protection with electric shutters; Stucco exterior; Single-hung windows

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Self-cleaning oven; Microwave; Freezer; Refrigerator/ice maker
• Bedrooms: 3 bedrooms with a split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Cable prewire and high-speed internet available; Smoke detectors; Pantry; Dining area open to living and eat-in kitchen; Screened lanai/porch; Four ceiling fans; Unfurnished
• Laundry & utility: Laundry in residence; Washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $389k).
• Cap rate 10.1% vs local median 3.4% 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.
• Market conditions: Rents soft (-1.4%/yr); 668 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); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $6,186/mo this rent would consume 72% of the median local household income ($103k/yr) (locally 606% 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $172k; list at $389k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $389,000

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. 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. 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 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: 1.59% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.46%
• DSCR: 1.60
• GRM: 5.2

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: -0.7%
• Equity multiple: 0.98×
• Total profit: $-2,661
• Equity at exit: $58,001

10-year hold

• IRR: 4.6%
• Equity multiple: 1.28×
• Total profit: $30,629
• Equity at exit: $33,634

Cash invested: $108,920 (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 33928

• Rents YoY: -1.4%
• Active inventory: 668
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $6,186 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$351 /mo · $4,207/yr
• Insurance: −$162
• HOA: −$1,113
• Vacancy / Maint / Mgmt: −$1,299
• Net cashflow: $1,222

Break-even live

Break-even rent $4,640

Max offer price $389,000

Occupancy floor 75%

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20051 Seagrove St #1202 Estero, FL	3.0	2.0	1567	$5,995	$3.83	24d	1	0.04mi
20057 Saraceno Dr Estero, FL	3.0	2.0	1848	$7,000	$3.79	24d	1	0.13mi
20053 Saraceno Dr Estero, FL	3.0	2.0	2045	$8,995	$4.40	24d	1	0.13mi
20101 Seagrove St #708 Estero, FL	3.0	2.0	1431	$5,995	$4.19	24d	1	0.17mi
20112 Saraceno Dr Estero, FL	3.0	2.0	2107	$10,750	$5.10	24d	1	0.21mi
20083 Seadale Ct Estero, FL	2.0	2.0	1981	$10,500	$5.30	24d	1	0.27mi
20099 Seadale Ct Estero, FL	3.0	2.0	2079	$5,500	$2.65	24d	1	0.28mi
20150 Seagrove St #2701 Estero, FL	3.0	2.5	1856	$2,895	$1.56	16d	1	0.29mi
20151 Seagrove St #206 Estero, FL	2.0	2.0	1735	$6,000	$3.46	24d	1	0.31mi
20161 Seagrove St #102 Estero, FL	2.0	2.0	1702	$6,000	$3.53	24d	1	0.34mi
20161 Seagrove St #108 Estero, FL	2.0	2.0	1655	$5,995	$3.62	24d	1	0.34mi
20271 Calice Ct #2304 Estero, FL	3.0	2.0	2009	$10,500	$5.23	24d	1	0.52mi
20240 Burnside Pl #1603 Estero, FL	3.0	2.5	1656	$5,995	$3.62	24d	1	0.53mi
20310 Calice Ct #1202 Estero, FL	3.0	2.0	1569	$5,500	$3.51	24d	1	0.61mi
19520 Highland Oaks Dr Estero, FL	3.0	1.0–2.0	977	$2,720	$2.78	2d	18	0.72mi
21301 Lancaster Run #822 Estero, FL	2.0	2.0	1134	$2,700	$2.38	24d	1	0.77mi
12595 Grandezza Cir Estero, FL	3.0	2.0	1649	$10,500	$6.37	24d	1	0.78mi
21311 Lancaster Run #721 Estero, FL	2.0	2.0	1200	$5,499	$4.58	24d	1	0.80mi
20092 Palermo Lake Ct Estero, FL	3.0	2.0	1975	$7,995	$4.05	24d	1	0.81mi
21330 Lancaster Run #1218 Estero, FL	2.0	2.0	1225	$2,500	$2.04	21d	1	0.90mi
21330 Lancaster Run Estero, FL	2.0	2.0	1225	$2,300	$1.88	24d	2	0.90mi
21300 Lancaster Run #926 Estero, FL	2.0	2.0	1360	$2,200	$1.62	10d	1	0.90mi
19640 Marino Lake Cir #2602 Miromar Lakes, FL	2.0	2.0	2034	$7,000	$3.44	24d	1	0.91mi
21340 Lancaster Run #1327 Estero, FL	2.0	2.0	1134	$2,500	$2.20	24d	1	0.93mi
21361 Lancaster Run #225 Estero, FL	2.0	2.0	1134	$2,000	$1.76	24d	1	0.93mi
19630 Marino Lake Cir #2702 Miromar Lakes, FL	2.0	2.0	2034	$7,500	$3.69	24d	1	0.94mi
21371 Lancaster Run #122 Estero, FL	2.0	2.0	1134	$4,800	$4.23	24d	1	0.96mi
21350 Lancaster Run Estero, FL	2.0	2.0	1200	$1,822	$1.52	3d	2	0.96mi
19721 Marino Lake Cir #1002 Miromar Lakes, FL	3.0	2.0	2034	$5,000	$2.46	12d	1	0.98mi
10530 Otter Key Ln Estero, FL	2.0	2.0	2062	$2,995	$1.45	3d	1	0.98mi
21370 Lancaster Run #1622 Estero, FL	2.0	2.0	1134	$4,500	$3.97	24d	1	0.99mi
10541 Marino Pointe Dr #2002 Miromar Lakes, FL	2.0	2.0	2034	$8,500	$4.18	24d	1	1.01mi
20257 Royal Villagio Ct Estero, FL	2.0–3.0	2.0	1364	$2,300	$1.69	3d	2	1.08mi
20257 Royal Villagio Ct #202 Estero, FL	3.0	2.0	1537	$2,300	$1.50	24d	1	1.08mi
10101 Villagio Palms Way Estero, FL	3.0	2.0–2.5	1732	$2,550	$1.47	3d	2	1.17mi
20230 Estero Gardens Cir #206 Estero, FL	3.0	2.0	1828	$2,550	$1.39	24d	1	1.24mi
21489 Sheridan Run Estero, FL	3.0	2.0	1645	$10,000	$6.08	24d	1	1.25mi
19649 Aqua View Ln Fort Myers, FL	3.0	2.0	2178	$8,500	$3.90	16d	1	1.28mi
19649 Aqua View Ln Fort Myers, FL	3.0	2.0	2178	$6,000	$2.75	24d	1	1.28mi
20321 Estero Gardens Cir Estero, FL	2.0–3.0	1.5–2.0	1423	$3,700	$2.60	24d	3	1.30mi

HOA detail condo

• Monthly dues: $1,113 · $13,356/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-19
   status Pending
2. 2026-04-05
   listed $389,000 Active
3. 2011-12-28
   soldstatus $172,500

ⓘ 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: $4,207 · $351/mo
• Projected year-2 tax: $4,207 · $351/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $74,238
• − Mortgage interest: −$21,790
• − Property taxes: −$4,207
• − Insurance: −$1,945
• − Repairs & maintenance: −$5,939
• − Management: −$5,939
• − HOA: −$13,356
• − Depreciation: −$11,316
• Taxable income: $9,745
• Est. tax owed @ 24.0%: −$2,339
• After-tax cash flow: $12,321/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 — 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 · 788,662 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: 606.0

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 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%

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

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

+125.5% since first listed

3 events — show timeline

• 2026-04-19 Pending — NAPLESMLS
• 2026-04-05 Listed $389,000 NAPLESMLS
• 2011-12-28 Sold (Public Records) $172,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $4,207 · +3.0% YoY. Source: county tax records.