11007 Mill Creek Way #1501 · Fort Myers, FL 33913

$305,000

2 bd · 2.0 ba · 1,656 sqft · Condo public records · 198 Days on market

Built 2004 $864/mo HOA · 19% of rent

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Why this score? — see what drove the C+ 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 +22.5/30.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 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

HUGE END OF SEASON PRICE REDUCTION!!! 1,797 sq' Spoonbill model in prestigous Colonial CC. pay as you play golf membership, across from pool, 2 bedroom 2 bath +den carriage home with attached garage with 2 additional parking spaces. Tall ceilings, sunny and bright interior and wonderful lake view from large lanai. Hurricane treated windows. Championship golf course by Gordon Lewis, active tennis programs, marvelous 14,000 sq ft club house with formal dining and sports bar. Live entertainment and dancing, card groups, tours, theater outings, baseball games at Twins and Red Sox Spring training are just some of the activities our full time social director has prepared to keep everyone happy. Best fitness center around with all nautilus equipment to keep you in shape. 3.5 miles of tropical nature trails are great for family walks or runs. Grab a book from the community library and bask in the Sun at the Huge community pool or take a short drive to Florida's famous white sand beaches.

Key facts

• Dual sinks
• French doors
• Walk-in shower

Tags

• OVERLOOKING THE LAKE
• SPLIT-BEDROOM FLOOR PLAN
• DUAL SINKS
• WALK-IN SHOWER
• SPACIOUS CLOSET
• FRENCH DOORS

Property features AI

Finance

• Other: Pets allowed (call/conditional)
• Financial info: 240 units in the community
• HOA & community: Homeowners association (annual fee applies); Association amenities include pool, spa/hot tub, tennis courts, pickleball, bocce court, golf course, clubhouse, fitness center, business center, library, restaurant, barbecue/picnic area, management, and street lights; Association fee billed annually and quarterly (multiple fee components)

Exterior

• Parking: Attached garage with one covered space; Driveway; Paved parking; Garage door opener; Two parking spaces (total)
• Security: Gated community with guard; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Underground utilities
• Home design: Two-story home; Entry level is 1; Resale property; Faces south
• Construction: Tile roof; Block, concrete and stucco construction
• Exterior features: Sprinkler/irrigation system (automatic); Shutters (manual); Screened porch / lanai; Lakefront; North exposure; Public maintained paved road

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator (with icemaker); Freezer; Icemaker
• Bedrooms: Master bedroom; Additional bedroom(s); Den (flex room)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Separate shower
• Heating & cooling: Heat pump heating; Central air conditioning; Ceiling fan(s); Electric cooling; Has heating and cooling
• Interior features: Dual sinks; Living/dining room; Separate shower (shower only); Cable TV available; Window treatments/coverings; High-speed internet available; Split bedrooms; Furnishing negotiable
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $305k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $305k).
• Recommended offer: $268k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 $4,528/mo this rent would consume 49% 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 $2k of loan paydown is wiped out by about $9k 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 198 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $220k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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; moderate wildfire risk; extreme-heat days projected 8→33/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.48% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• GRM: 5.6

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: -19.0%
• Equity multiple: 0.36×
• Total profit: $-54,774
• Equity at exit: $45,476

10-year hold

• IRR: -24.3%
• Equity multiple: 0.03×
• Total profit: $-82,451
• Equity at exit: $26,371

Cash invested: $85,400 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $4,528 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$475 /mo · $5,698/yr
• Insurance: −$127
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$864
• Vacancy / Maint / Mgmt: −$951
• Net cashflow: $85

Break-even live

Break-even rent $4,420

Max offer price $305,000

Occupancy floor 93%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	0.04mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	23d	1	0.08mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	23d	1	0.19mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	23d	1	0.22mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	3d	1	0.30mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	23d	1	0.32mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	23d	1	0.32mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	23d	1	0.35mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	0.35mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	15d	1	0.37mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	23d	1	0.37mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	23d	1	0.38mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	23d	1	0.39mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	0.42mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	23d	1	0.44mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	15d	1	0.44mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	23d	1	0.60mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	23d	1	0.62mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	23d	1	0.63mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	23d	1	0.64mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	23d	1	0.68mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	23d	1	0.71mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.71mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	23d	1	0.71mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	23d	1	0.74mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	23d	1	0.74mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	23d	1	0.88mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	23d	1	0.88mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	15d	1	0.91mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	23d	1	0.93mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.95mi
10025 Oakhurst Way Fort Myers, FL	2.0	2.0	1504	$7,100	$4.72	23d	1	0.97mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	23d	1	1.01mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	23d	1	1.02mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	1.02mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	15d	2	1.04mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	1.04mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	1.04mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	23d	1	1.04mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	1.08mi

HOA detail condo

• Monthly dues: $864 · $10,368/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-17
   days on market $305,000 Active 198 DOM
2. 2026-06-16
   days on market $305,000 Active 197 DOM
3. 2026-06-16
   days on market $305,000 Active 196 DOM
4. 2026-06-13
   days on market $305,000 Active 194 DOM
5. 2026-06-09
   days on market $305,000 Active 190 DOM
6. 2026-06-07
   days on market $305,000 Active 188 DOM
7. 2026-06-02
   days on market $305,000 Active 183 DOM
8. 2026-06-01
   days on market $305,000 Active 182 DOM
9. 2026-06-01
   days on market $305,000 Active 181 DOM
10. 2026-05-12
    price $305,000
11. 2026-04-08
    price $309,900
12. 2026-02-23
    price $319,900
13. 2026-01-13
    price $324,900
14. 2025-12-01
    listed $329,900 Active
15. 2021-07-01
    soldstatus $220,000
16. 2013-06-11
    soldstatus $155,000
17. 2013-06-05
    soldstatus $155,000 994-char remark

    Show marketing remark (994 chars)

    HUGE END OF SEASON PRICE REDUCTION!!! 1,797 sq' Spoonbill model in prestigous Colonial CC. pay as you play golf membership, across from pool, 2 bedroom 2 bath +den carriage home with attached garage with 2 additional parking spaces. Tall ceilings, sunny and bright interior and wonderful lake view from large lanai. Hurricane treated windows. Championship golf course by Gordon Lewis, active tennis programs, marvelous 14,000 sq ft club house with formal dining and sports bar. Live entertainment and dancing, card groups, tours, theater outings, baseball games at Twins and Red Sox Spring training are just some of the activities our full time social director has prepared to keep everyone happy. Best fitness center around with all nautilus equipment to keep you in shape. 3.5 miles of tropical nature trails are great for family walks or runs. Grab a book from the community library and bask in the Sun at the Huge community pool or take a short drive to Florida's famous white sand beaches.

18. 2013-05-16
    price $159,900 994-char remark

    Show marketing remark (994 chars)

    HUGE END OF SEASON PRICE REDUCTION!!! 1,797 sq' Spoonbill model in prestigous Colonial CC. pay as you play golf membership, across from pool, 2 bedroom 2 bath +den carriage home with attached garage with 2 additional parking spaces. Tall ceilings, sunny and bright interior and wonderful lake view from large lanai. Hurricane treated windows. Championship golf course by Gordon Lewis, active tennis programs, marvelous 14,000 sq ft club house with formal dining and sports bar. Live entertainment and dancing, card groups, tours, theater outings, baseball games at Twins and Red Sox Spring training are just some of the activities our full time social director has prepared to keep everyone happy. Best fitness center around with all nautilus equipment to keep you in shape. 3.5 miles of tropical nature trails are great for family walks or runs. Grab a book from the community library and bask in the Sun at the Huge community pool or take a short drive to Florida's famous white sand beaches.

19. 2012-08-20
    listed $199,900

ⓘ 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: $5,698 · $475/mo
• Projected year-2 tax: $5,698 · $475/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 8 d/yr ≥107°F today · 33 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: $54,331
• − Mortgage interest: −$17,085
• − Property taxes: −$5,698
• − Insurance: −$6,644
• − Repairs & maintenance: −$4,347
• − Management: −$4,347
• − HOA: −$10,368
• − Depreciation: −$8,873
• Taxable loss: −$3,029
• Est. tax savings @ 24.0%: +$727
• After-tax cash flow: $1,745/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

+52.6% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $305,000 FORTMLS
• 2026-04-08 Price Changed $309,900 FORTMLS
• 2026-02-23 Price Changed $319,900 FORTMLS
• 2026-01-13 Price Changed $324,900 FORTMLS
• 2025-12-01 Listed $329,900 FORTMLS
• 2021-07-01 Sold (Public Records) $220,000 Public Records
• 2013-06-11 Sold (Public Records) $155,000 Public Records
• 2013-06-05 Sold (MLS) $155,000 FORTMLS
• 2013-05-16 Price Changed $159,900 FORTMLS
• 2012-08-20 Listed $199,900 NAPLESMLS

Property tax history

+3.2%/yr

Latest (2025): $5,698 · -0.8% YoY. Source: county tax records.