Dream 2 Plan · Verandah, FL 33905

$285,990

3 bd · 2.0 ba · 1,860 sqft · SingleFamily · 8 Days on market

Excellent condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.9/30.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• Livability +2.5/5.0
• Rent growth +1.8/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks

* Base price does not include the homesite premium or design options. * A luxurious home embodying the carefree, relaxed Florida lifestyle happens with the Dream 2, a 3 bedroom, 2 bath single family home with a 2-car garage. The floor plan includes a beautiful open kitchen with corner pantry, center island with plenty of counterspace for culinary creativity and a dining area. The great room has glass sliders that lead out onto the lanai, perfect for taking a break outside. The master bedroom includes 2 closets, dual vanity sinks and a walk-in shower. A separate den, utility room and 2 additional bedrooms and second bath complete the home.

Key facts

• Corner pantry
• Great room
• Lanai

Tags

• OPEN KITCHEN
• CORNER PANTRY
• CENTER ISLAND
• GREAT ROOM
• GLASS SLIDERS
• LANAI

Property features AI

Finance

• Other: Address: Fort Myers, FL 33905
• Financial info: Currently listed as Active; List price $285,990

Exterior

• Parking: Detached or attached 2-car parking (2 total parking spaces, 2 garage spaces)
• Home design: Single-family home (Dream 2 plan)
• Construction: New construction
• Exterior features: Property listed as a new construction plan (Dream 2)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area (1,860 finished area)

🏗️ New construction. The $285,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $526,380.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $286k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $286k).

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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 (-3.0%/yr); 763 active listings in the ZIP; 15 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).
• At $3,315/mo this rent would consume 55% of the median local household income ($72k/yr) (locally 1358% 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 $4k of loan paydown is wiped out by about $16k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $285,990

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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.63% ✗
• Cap rate: 3.97%
• Cash-on-cash: -8.30%
• DSCR: 0.63
• GRM: 13.2

CMA / ARV

• ARV (on-the-fly): $526,380
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3300 Shady Bnd	0.59mi	3/2.0	1,993 (+7%)	9mo	$565,000	$283	53

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: -34.2%
• Equity multiple: -0.08×
• Total profit: $-159,854
• Equity at exit: $78,485

10-year hold

• IRR: -66.1%
• Equity multiple: -0.76×
• Total profit: $-260,098
• Equity at exit: $45,512

Cash invested: $147,386 (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 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 763
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,315 high
• Mortgage (P&I): −$2,760
• Tax est. 1.5%: −$658 /mo · $7,896/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $-1,019

Break-even live

Break-even rent $4,605

Max offer price $378,947

Occupancy floor —

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: $131,595
• Closing costs: $15,791
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 Cottonwood Bnd #1901 Fort Myers, FL	3.0	2.5	1821	$2,500	$1.37	23d	1	0.06mi
3111 Cottonwood Bnd #1704 Fort Myers, FL	3.0	2.5	1833	$3,000	$1.64	23d	1	0.09mi
3240 Cottonwood Bnd #201 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	23d	1	0.14mi
3211 Cottonwood Bnd #701 Fort Myers, FL	3.0	3.0	1821	$2,500	$1.37	23d	1	0.18mi
3211 Cottonwood Bnd #705 Fort Myers, FL	3.0	2.5	1867	$3,000	$1.61	23d	1	0.18mi
3181 Cottonwood Bnd #901 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	23d	1	0.19mi
3210 Cottonwood Bnd #803 Fort Myers, FL	3.0	2.5	1867	$5,000	$2.68	3d	1	0.21mi
3111 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$2,700	$1.90	23d	1	0.58mi
3120 Meandering Way #202 Fort Myers, FL	3.0	2.0	1690	$3,000	$1.78	23d	1	0.61mi
3071 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$3,000	$2.11	23d	1	0.61mi
3131 Orangetree Bnd Fort Myers, FL	3.0	3.0	1842	$7,000	$3.80	23d	1	0.92mi
12639 5th St Fort Myers, FL	4.0	2.0	1533	$1,900	$1.24	23d	1	1.29mi
12937 Fourth St Fort Myers, FL	2.0	1.0	1236	$1,900	$1.54	23d	1	1.43mi
2804 River Ridge Blvd Fort Myers, FL	2.0	2.0	1404	$1,350	$0.96	23d	1	1.44mi
3721 Pebblebrook Ridge Ct #102 Fort Myers, FL	2.0	2.0	1532	$2,950	$1.93	23d	1	1.49mi

Listing history 5 events

1. 2026-06-17
   days on market $285,990 Active 8 DOM
2. 2026-06-16
   days on market $285,990 Active 7 DOM
3. 2026-06-16
   days on market $285,990 Active 6 DOM
4. 2026-06-13
   remarks 647-char remark
5. 2026-06-13
   listed $285,990 Active 4 DOM

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

Taxation est. · year 1

• Rental income: $39,780
• − Mortgage interest: −$29,485
• − Property taxes: −$7,896
• − Insurance: −$2,632
• − Repairs & maintenance: −$3,182
• − Management: −$3,182
• − Depreciation: −$15,313
• Taxable loss: −$21,911
• Est. tax savings @ 24.0%: +$5,259
• After-tax cash flow: $-6,968/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs or maintenance needed. It is move-in ready and would benefit from a fresh coat of paint and landscaping improvements to further enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior siding and repainting the interior walls — Painting the exterior and interior will enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Landscaping improvements — Landscaping improvements will enhance the curb appeal and make the home more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and repainting the interior walls — Painting the exterior and interior will enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Landscaping improvements will enhance the curb appeal and make the home more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Verandah

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Verandah, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1358.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 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: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• 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