996 Greenwood Ct N · Sanibel, FL 33957

$729,000

3 bd · 3.0 ba · 1,741 sqft · SingleFamily public records · 499 Days on market

Built 1981 8,058 sqft lot Est $1341k · 46% under $23/mo HOA

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Meticulously maintained 3 Bedroom, 3 Bathroom Townhome close to the causeway, Bailey Beach and the Gulf. Tile and hardwood floors throughout. The first level has a large great room with cathedral ceilings, screen enclosed porch, spacious dining room, updated kitchen, guest bedroom and bathroom, laundry room and large primary suite with walk-in closet. Second level has a large loft/sitting area open to screened lanai, guest bedroom and bathroom. Lower level includes screen enclosed pool, two parking spaces and several storage rooms. Impact windows and doors, new hot water heater, New A/C, Hardiboard siding on front and back, Roof-2011, irrigation system and partially furnished.

Key facts

• Entertainment area
• Large loft
• Private caged pool

Tags

• PRIVATE CAGED POOL
• ENTERTAINMENT AREA
• ADDITIONAL STORAGE
• UPDATED KITCHEN
• SCREENED PORCH
• LARGE LOFT

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with annual fee (covers grounds and road maintenance); Community amenities include beach access and rights, clubhouse, golf course, pool, putting greens, restaurant, tennis courts, and management; Community features: golf, non-gated, tennis courts

Exterior

• Parking: Attached garage with one covered space; Garage with automatic door opener; Two parking spaces total (attached, covered)
• Security: High-impact doors; Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Two-story home; Shingle roof; Wood frame construction; Raised foundation with pier/pillar supports; Faces southeast; Located on a rectangular dead-end lot; Lot exposures to the northwest
• Construction: Built with wood frame construction; Shingle roof; Raised pier/pillar foundation
• Exterior features: Patio; Lanai (open, screened); Porch (screened); Patio with screen enclosure; Attached guest house; Outdoor storage; Security/high-impact doors; Smoke detectors

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Range; Refrigerator (with ice maker)
• Bedrooms: Main-level primary bedroom
• Flooring: Carpet; Tile
• Bathrooms: Three full bathrooms; Separate shower in primary bath
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Cathedral ceilings; Entrance foyer; Living/dining room; Main-level primary suite; Separate shower (shower only); Cable TV available; Window treatments; Sliding windows; Impact glass windows
• Laundry & utility: Washer and dryer inside

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $729k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $729k).
• Recommended offer: $642k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.8% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: housing D+, amenities F, commute F.
• 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: 526 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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 + 3.0% rent growth), your $204k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 499 days — a 12% lower offer ($642k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $221k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $641,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 499 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.31%
• DSCR: 1.99
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $1,340,570
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1258 Sand Castle Rd	0.62mi	3/2.0	1,704 (-2%)	14mo	$570,000	$335	52
1154 Harbor Cottage Ct	0.21mi	3/2.0	1,493 (-14%)	16mo	$1,150,000	$770	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.47×
• Total profit: $96,646
• Equity at exit: $108,696

10-year hold

• IRR: 20.9%
• Equity multiple: 2.77×
• Total profit: $361,481
• Equity at exit: $63,031

Cash invested: $204,120 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $10,870 medium
• Mortgage (P&I): −$3,823
• Tax from tax record: −$643 /mo · $7,722/yr
• Insurance: −$304
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$23
• Vacancy / Maint / Mgmt: −$2,283
• Net cashflow: $3,368

Break-even live

Break-even rent $6,607

Max offer price $729,000

Occupancy floor 64%

Sensitivity live

Price	-10% $3,781	-5% $3,574	+0% $3,368	+5% $3,162	+10% $2,955
Rent	-10% $2,509	-5% $2,938	+0% $3,368	+5% $3,797	+10% $4,227
Rate	-1.0pp $3,735	-0.5pp $3,553	base $3,368	+0.5pp $3,179	+1.0pp $2,987

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: $182,250
• Closing costs: $21,870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 Lagoon Dr Sanibel, FL	3.0	2.0	1704	$18,200	$10.68	24d	1	0.86mi
1666 Sabal Palm Dr Sanibel, FL	2.0	2.5	1715	$3,500	$2.04	24d	1	1.23mi
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$7,115	$4.32	16d	1	1.44mi

HOA detail

• Monthly dues: $23 · $276/yr
• Likely covers: waterpool

Listing history 25 events

1. 2026-06-17
   days on market $729,000 Active 499 DOM
2. 2026-06-16
   days on market $729,000 Active 498 DOM
3. 2026-06-16
   days on market $729,000 Active 497 DOM
4. 2026-06-13
   days on market $729,000 Active 495 DOM
5. 2026-06-09
   days on market $729,000 Active 491 DOM
6. 2026-06-07
   days on market $729,000 Active 489 DOM
7. 2026-06-02
   days on market $729,000 Active 484 DOM
8. 2026-06-01
   days on market $729,000 Active 483 DOM
9. 2026-06-01
   days on market $729,000 Active 482 DOM
10. 2026-04-16
    price $729,000
11. 2026-02-26
    price $739,000
12. 2026-02-16
    price $765,000
13. 2025-12-23
    price $775,000
14. 2025-07-02
    price $799,000
15. 2025-05-28
    price $850,000
16. 2025-03-26
    price $899,000
17. 2025-02-03
    listed $950,000 Active
18. 2023-03-09
    soldstatus $725,000
19. 2023-02-27
    soldstatus $725,000 Closed 685-char remark

    Show marketing remark (685 chars)

    Meticulously maintained 3 Bedroom, 3 Bathroom Townhome close to the causeway, Bailey Beach and the Gulf. Tile and hardwood floors throughout. The first level has a large great room with cathedral ceilings, screen enclosed porch, spacious dining room, updated kitchen, guest bedroom and bathroom, laundry room and large primary suite with walk-in closet. Second level has a large loft/sitting area open to screened lanai, guest bedroom and bathroom. Lower level includes screen enclosed pool, two parking spaces and several storage rooms. Impact windows and doors, new hot water heater, New A/C, Hardiboard siding on front and back, Roof-2011, irrigation system and partially furnished.

20. 2023-01-03
    status Pending 685-char remark

    Show marketing remark (685 chars)

    Meticulously maintained 3 Bedroom, 3 Bathroom Townhome close to the causeway, Bailey Beach and the Gulf. Tile and hardwood floors throughout. The first level has a large great room with cathedral ceilings, screen enclosed porch, spacious dining room, updated kitchen, guest bedroom and bathroom, laundry room and large primary suite with walk-in closet. Second level has a large loft/sitting area open to screened lanai, guest bedroom and bathroom. Lower level includes screen enclosed pool, two parking spaces and several storage rooms. Impact windows and doors, new hot water heater, New A/C, Hardiboard siding on front and back, Roof-2011, irrigation system and partially furnished.

21. 2022-12-29
    listed $779,000 Active 685-char remark

    Show marketing remark (685 chars)

    Meticulously maintained 3 Bedroom, 3 Bathroom Townhome close to the causeway, Bailey Beach and the Gulf. Tile and hardwood floors throughout. The first level has a large great room with cathedral ceilings, screen enclosed porch, spacious dining room, updated kitchen, guest bedroom and bathroom, laundry room and large primary suite with walk-in closet. Second level has a large loft/sitting area open to screened lanai, guest bedroom and bathroom. Lower level includes screen enclosed pool, two parking spaces and several storage rooms. Impact windows and doors, new hot water heater, New A/C, Hardiboard siding on front and back, Roof-2011, irrigation system and partially furnished.

22. 2009-12-22
    soldstatus $380,000 570-char remark

    Show marketing remark (570 chars)

    Truly unique three bedroom, three bath home, unlike any other duplex in the Dunes! Private caged pool with large entertainment area and additional storage below home, that could be used for a workshop or exercise room. Updated kitchen with large formal dining room, living room, two screened porches, open porch off master bedroom, and loft/office area. Brand new impact resistant windows, sliding glass doors and French doors off dining room. Located in a wonderful island subdivision with many community amenities and just down the street to the Bay beach, a must see!

23. 2009-12-22
    soldstatus $380,000

    Show marketing remark (570 chars)

    Truly unique three bedroom, three bath home, unlike any other duplex in the Dunes! Private caged pool with large entertainment area and additional storage below home, that could be used for a workshop or exercise room. Updated kitchen with large formal dining room, living room, two screened porches, open porch off master bedroom, and loft/office area. Brand new impact resistant windows, sliding glass doors and French doors off dining room. Located in a wonderful island subdivision with many community amenities and just down the street to the Bay beach, a must see!

24. 2009-11-30
    price $456,000 570-char remark

    Show marketing remark (570 chars)

    Truly unique three bedroom, three bath home, unlike any other duplex in the Dunes! Private caged pool with large entertainment area and additional storage below home, that could be used for a workshop or exercise room. Updated kitchen with large formal dining room, living room, two screened porches, open porch off master bedroom, and loft/office area. Brand new impact resistant windows, sliding glass doors and French doors off dining room. Located in a wonderful island subdivision with many community amenities and just down the street to the Bay beach, a must see!

25. 1995-03-31
    soldstatus $146,700

ⓘ 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: $7,722 · $643/mo
• Projected year-2 tax: $7,722 · $643/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 26 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: $130,444
• − Mortgage interest: −$40,835
• − Property taxes: −$7,722
• − Insurance: −$8,764
• − Repairs & maintenance: −$10,436
• − Management: −$10,436
• − HOA: −$276
• − Depreciation: −$21,207
• Taxable income: $30,769
• Est. tax owed @ 24.0%: −$7,385
• After-tax cash flow: $33,030/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 — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• City population: 6,402
• Population (ZIP): 6,402

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• 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

+396.9% since first listed

16 events — show timeline

• 2026-04-16 Price Changed $729,000 FORTMLS
• 2026-02-26 Price Changed $739,000 FORTMLS
• 2026-02-16 Price Changed $765,000 FORTMLS
• 2025-12-23 Price Changed $775,000 FORTMLS
• 2025-07-02 Price Changed $799,000 FORTMLS
• 2025-05-28 Price Changed $850,000 FORTMLS
• 2025-03-26 Price Changed $899,000 FORTMLS
• 2025-02-03 Listed $950,000 FORTMLS
• 2023-03-09 Sold (Public Records) $725,000 Public Records
• 2023-02-27 Sold (MLS) $725,000 FORTMLS
• 2023-01-03 Pending — FORTMLS
• 2022-12-29 Listed $779,000 FORTMLS
• 2009-12-22 Sold (Public Records) $380,000 Public Records
• 2009-12-22 Sold (MLS) $380,000 FORTMLS
• 2009-11-30 Price Changed $456,000 FORTMLS
• 1995-03-31 Sold (Public Records) $146,700 Public Records

Property tax history

+5.0%/yr

Latest (2025): $7,722 · +3.4% YoY. Source: county tax records.