4181 Sawgrass Point Dr #201 · Bonita Springs, FL 34134

$355,000

3 bd · 2.0 ba · 1,445 sqft · Condo public records · 83 Days on market

Built 1994 $856/mo HOA · 16% 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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Major Price Improvement! Recently reduced by $44,000 to give buyers the flexibility to furnish and personalize this beautifully updated second-floor residence to their own style and taste. While many homes in the community are selling furnished or turnkey, this extensively upgraded unit now offers exceptional value and room in the budget for furnishings, décor, and delivery — creating an incredible opportunity in today’s market. Welcome to Sawgrass Point at Pelican Landing—a rare opportunity to own a beautifully updated second-floor residence in one of Southwest Florida’s most coveted communities. From the moment you enter, you’ll appreciate the extensiv

Key facts

• Stunning lake views
• New ceiling fans
• New cabinetry

Tags

• UPDATED SECOND-FLOOR RESIDENCE
• STUNNING LAKE VIEWS
• PRIVATE LANAI
• NEW CABINETRY
• STAINLESS STEEL APPLIANCES
• NEW CEILING FANS

Property features AI

Finance

• Other: Community pool
• Financial info: Pets allowed conditionally (call); maximum 1 pet
• HOA & community: Homeowners association (annual fee applies); Association management, cable TV, internet, insurance, irrigation water, grounds maintenance, pest control, road maintenance, street lights, security and water included in fees; Community amenities: beach rights and access, boat ramp, clubhouse, fitness center, barbecue/picnic areas, pickleball, park, pool, spa/hot tub, storage, sidewalks, tennis courts, management; Community features: golf, gated, tennis courts, street lights; 124 units in the community

Exterior

• Parking: Covered paved parking; Detached carport; 1 covered/carport space
• Security: Gated community with guard; Security gate; Security guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Underground utilities
• Home design: Condo/attached property; One story; Entry level 2; South-facing; North exposure; Has a view (lake)
• Construction: Tile roof; Block, concrete and stucco construction
• Exterior features: Lanai; Porch; Screened porch; Sprinkler/irrigation (reclaimed water); Storage; Zero lot line; Automatic sprinklers; Paved road

Interior

• Kitchen: Electric cooktop; Self-cleaning oven; Microwave; Refrigerator; Freezer; Dishwasher
• Bedrooms: Guest quarters
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Dual sinks; Living/dining room; Separate shower; Shower only; Cable TV available; High-speed internet available; Split bedrooms; Unfurnished; Single-hung and sliding windows
• Laundry & utility: Washer and dryer inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $355k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $355k).
• Recommended offer: $334k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety 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 rising (+2.9%/yr); 699 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 $5,338/mo this rent would consume 49% of the median local household income ($131k/yr) (locally 554% 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 $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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $99k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $164k; list at $355k implies a 116% 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; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $333,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.50% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.25%
• DSCR: 1.50
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.85% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,634
• Equity at exit: $52,932

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $76,987
• Equity at exit: $30,694

Cash invested: $99,400 (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 34134

• Rents YoY: 2.9%
• Active inventory: 699
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $5,338 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$419 /mo · $5,032/yr
• Insurance: −$148
• HOA: −$856
• Vacancy / Maint / Mgmt: −$1,121
• Net cashflow: $932

Break-even live

Break-even rent $4,158

Max offer price $355,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,133	-5% $1,033	+0% $932	+5% $832	+10% $731
Rent	-10% $510	-5% $721	+0% $932	+5% $1,143	+10% $1,354
Rate	-1.0pp $1,111	-0.5pp $1,022	base $932	+0.5pp $840	+1.0pp $747

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 Sawgrass Point Dr #102 Bonita Springs, FL	2.0	2.0	1319	$5,000	$3.79	24d	1	0.07mi
4161 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,500	$3.81	24d	1	0.08mi
4161 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,500	$3.81	22d	1	0.08mi
4200 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,250	$3.63	24d	1	0.10mi
4700 Leilani Ln Bonita Springs, FL	2.0	2.0	1380	$5,000	$3.62	24d	1	0.39mi
4709 Kon Tiki Ln Bonita Springs, FL	2.0	2.0	1475	$1,500	$1.02	24d	1	0.44mi
24360 Sandpiper Isle Way #101 Bonita Springs, FL	2.0	2.0	1666	$6,500	$3.90	24d	1	0.45mi
24361 Sandpiper Isle Way #401 Bonita Springs, FL	2.0	2.0	1807	$8,000	$4.43	24d	1	0.46mi
24827 Lakemont Cove Ln #101 Bonita Springs, FL	2.0	2.0	1552	$6,750	$4.35	24d	1	0.61mi
25151 Bay Cedar Dr Bonita Springs, FL	2.0	2.0	1738	$11,000	$6.33	3d	1	0.63mi
24821 Lakemont Cove Ln #101 Bonita Springs, FL	2.0	2.0	1203	$6,500	$5.40	24d	1	0.64mi
24821 Lakemont Cove Ln #201 Bonita Springs, FL	3.0	2.0	1633	$7,000	$4.29	24d	1	0.64mi
24821 Lakemont Cove Ln #202 Bonita Springs, FL	3.0	2.0	1658	$5,000	$3.02	22d	1	0.64mi
25130 Sandpiper Greens Ct #104 Bonita Springs, FL	2.0	2.0	1392	$6,500	$4.67	24d	1	0.71mi
3451 Ballybridge Cir #103 Bonita Springs, FL	3.0	2.0	1703	$6,500	$3.82	24d	1	0.89mi
23650 Via Veneto Blvd #1602 Estero, FL	2.0	2.5	1818	$8,000	$4.40	24d	1	1.00mi
25248 Pelican Creek Cir #102 Bonita Springs, FL	3.0	2.0	1458	$7,000	$4.80	24d	1	1.05mi
25232 Pelican Creek Cir #202 Bonita Springs, FL	3.0	2.0	1646	$6,500	$3.95	24d	1	1.06mi
25240 Pelican Creek Cir #202 Bonita Springs, FL	2.0	2.0	1846	$6,500	$3.52	17d	1	1.08mi
25240 Pelican Creek Cir #202 Bonita Springs, FL	2.0	2.0	1846	$6,500	$3.52	24d	1	1.08mi
23680 Walden Center Dr #107 Estero, FL	2.0	2.0	1052	$1,900	$1.81	4d	1	1.10mi
23710 Walden Center Dr #308 Estero, FL	3.0	2.0	1355	$3,000	$2.21	24d	1	1.13mi
23640 Walden Center Dr #106 Estero, FL	2.0	2.0	1052	$1,850	$1.76	3d	1	1.14mi
23500 Walden Center Dr Estero, FL	1.0–2.0	1.0–2.0	803	$2,800	$3.48	17d	3	1.18mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	24d	1	1.19mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	4d	1	1.19mi
23272 E Eldorado Ave Unit 1073519P Bonita Springs, FL	4.0	2.0	1786	$8,737	$4.89	22d	1	1.32mi
3460 Pointe Creek Ct #102 Bonita Springs, FL	3.0	2.0	1622	$6,800	$4.19	24d	1	1.32mi
3461 Pointe Creek Ct #306 Bonita Springs, FL	3.0	2.0	1650	$3,150	$1.91	24d	1	1.34mi
23611 Alamanda Dr #202 Estero, FL	3.0	2.0	1440	$2,900	$2.01	24d	1	1.34mi
3442 Pointe Creek Ct #201 Bonita Springs, FL	3.0	2.0	1673	$7,000	$4.18	4d	1	1.38mi
3412 Pointe Creek Ct #102 Bonita Springs, FL	3.0	2.0	1622	$6,250	$3.85	24d	1	1.41mi
8861 Colonnades Ct W #216 Bonita Springs, FL	3.0	2.0	1207	$2,200	$1.82	24d	1	1.41mi
3431 Pointe Creek Ct Bonita Springs, FL	2.0–3.0	2.0	1414	$2,590	$1.83	20d	2	1.41mi
8510 Violeta St #201 Estero, FL	2.0	2.0	1152	$2,400	$2.08	24d	1	1.44mi
8870 Colonnades Ct W #337 Bonita Springs, FL	2.0	2.0	997	$3,100	$3.11	4d	1	1.45mi
23550 Alamanda Dr #102 Estero, FL	3.0	2.5	1616	$5,200	$3.22	24d	1	1.45mi
23550 Alamanda Dr #203 Estero, FL	2.0	2.0	1152	$5,000	$4.34	24d	1	1.45mi
8500 Violeta St #102 Estero, FL	2.0	2.0	1468	$5,200	$3.54	3d	1	1.46mi
8540 Violeta St #202 Estero, FL	3.0	2.0	1440	$2,495	$1.73	24d	1	1.48mi

HOA detail condo

• Monthly dues: $856 · $10,272/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-18
   price $355,000
2. 2026-03-22
   price $399,000
3. 2026-03-02
   listed $425,000 Active
4. 1993-09-08
   soldstatus $164,100
5. 1992-12-01
   soldstatus $164,100

ⓘ 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: $5,032 · $419/mo
• Projected year-2 tax: $5,032 · $419/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,057
• − Mortgage interest: −$19,886
• − Property taxes: −$5,032
• − Insurance: −$1,775
• − Repairs & maintenance: −$5,125
• − Management: −$5,125
• − HOA: −$10,272
• − Depreciation: −$10,327
• Taxable income: $6,516
• Est. tax owed @ 24.0%: −$1,564
• After-tax cash flow: $9,622/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 16,475
• Household income: $130,719
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 554.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Common ancestry: Slovak 5% Romanian 4% Serbian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 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: ▼ -236.48%
• Current HPI: 237.4416
• Rent YoY: ▲ 2.85%
• 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

+116.3% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $355,000 FORTMLS
• 2026-03-22 Price Changed $399,000 FORTMLS
• 2026-03-02 Listed $425,000 FORTMLS
• 1993-09-08 Sold (Public Records) $164,100 Public Records
• 1992-12-01 Sold (Public Records) $164,100 Public Records

Property tax history

+4.0%/yr

Latest (2025): $5,032 · +6.0% YoY. Source: county tax records.