1666 Middle Gulf Dr · Sanibel, FL 33957

$1,159,000

3 bd · 2.0 ba · 1,631 sqft · SingleFamily public records · 141 Days on market

Built 1983 0.53 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Directly across the street form the Gulf of Mexico with gorgeous canal views- this charming island home awaits! Offering a split floorplan, 3 Bedrooms, 2 Bathrooms with cozy kitchen open to living room and large enclosed lanai with amazing canal views perfect for entertaining. Large Master Bedroom, 2-car garage with extra storage and spacious lower level patio are just a few of the features this home boasts. Private fenced in pool area and patio with outdoor shower make for an inviting retreat after a day at the beach! This one won't last!

Key facts

• Spa-like bath
• Beverage station
• Vaulted ceilings

Tags

• EXPANSIVE 16-FOOT ISLAND
• BEVERAGE STATION
• COFFEE BAR
• VAULTED CEILINGS
• REIMAGINED PRIMARY SUITE
• SPA-LIKE BATH

Property features AI

Finance

• Other: Private in-ground pool with pool equipment; Has a view
• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee listed

Exterior

• Parking: Attached garage; 3 covered garage spaces
• Security: Security/high impact doors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story home; Entry level: 1; Southeast facing; Resale property
• Construction: Shingle roof; Wood siding with wood frame construction; Raised foundation with pillars/posts/piers; Built as a single-unit residence
• Exterior features: Glass-enclosed lanai/porch; Screened porch; Porch; Security/high impact doors; Irregular lot; Riverfront property; Northwest exposure; Municipal irrigation

Interior

• Kitchen: Built-in oven; Electric cooktop; Microwave; Dishwasher; Refrigerator; Icemaker
• Bedrooms: Split bedrooms; Includes a screened porch (listed as a room type)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower; Shower only
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Impact glass windows; Breakfast bar; Dual sinks in bath; Living/dining room; Separate shower; Shower only; Split bedroom floor plan; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.16M.

Deal economics

• At list price, monthly cash flow is $7k ($82k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.16M).
• Recommended offer: $1.02M (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $8k of loan paydown is wiped out by about $35k 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 $325k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $180k (13%) 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,019,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.64% ✓
• Cap rate: 13.85%
• Cash-on-cash: 26.98%
• DSCR: 2.20
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.0%
• Equity multiple: 1.77×
• Total profit: $250,133
• Equity at exit: $172,811

10-year hold

• IRR: 27.3%
• Equity multiple: 3.41×
• Total profit: $782,720
• Equity at exit: $100,209

Cash invested: $324,520 (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: 5.1×

Monthly cashflow live

• Estimated rent: $18,980 medium
• Mortgage (P&I): −$6,078
• Tax from tax record: −$1,136 /mo · $13,634/yr
• Insurance: −$483
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,986
• Net cashflow: $6,870

Break-even live

Break-even rent $10,283

Max offer price $1,159,000

Occupancy floor 59%

Sensitivity live

Price	-10% $7,527	-5% $7,199	+0% $6,870	+5% $6,542	+10% $6,214
Rent	-10% $5,371	-5% $6,121	+0% $6,870	+5% $7,620	+10% $8,370
Rate	-1.0pp $7,454	-0.5pp $7,165	base $6,870	+0.5pp $6,570	+1.0pp $6,265

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: $289,750
• Closing costs: $34,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1235 Par View Dr Sanibel, FL	2.0	2.0	1534	$3,500	$2.28	22d	1	0.36mi
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$7,115	$4.32	17d	1	1.16mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	25d	1	1.28mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	25d	1	1.34mi

Listing history 21 events

1. 2026-06-17
   days on market $1,159,000 Active 141 DOM
2. 2026-06-16
   days on market $1,159,000 Active 140 DOM
3. 2026-06-15
   days on market $1,159,000 Active 139 DOM
4. 2026-06-13
   days on market $1,159,000 Active 137 DOM
5. 2026-06-10
   days on market $1,159,000 Active 134 DOM
6. 2026-06-09
   days on market $1,159,000 Active 133 DOM
7. 2026-06-07
   days on market $1,159,000 Active 131 DOM
8. 2026-06-02
   days on market $1,159,000 Active 126 DOM
9. 2026-06-01
   days on market $1,159,000 Active 125 DOM
10. 2026-06-01
    days on market $1,159,000 Active 124 DOM
11. 2026-04-02
    price $1,159,000
12. 2026-03-11
    price $1,239,000
13. 2026-01-27
    listed $1,339,000 Active
14. 2025-07-14
    historical
15. 2025-04-30
    price $1,400,000
16. 2025-01-14
    listed $1,595,000 Active
17. 2022-03-29
    soldstatus $1,050,000
18. 2022-03-25
    soldstatus $1,050,000 Closed 545-char remark

    Show marketing remark (545 chars)

    Directly across the street form the Gulf of Mexico with gorgeous canal views- this charming island home awaits! Offering a split floorplan, 3 Bedrooms, 2 Bathrooms with cozy kitchen open to living room and large enclosed lanai with amazing canal views perfect for entertaining. Large Master Bedroom, 2-car garage with extra storage and spacious lower level patio are just a few of the features this home boasts. Private fenced in pool area and patio with outdoor shower make for an inviting retreat after a day at the beach! This one won't last!

19. 2022-01-18
    status Pending 545-char remark

    Show marketing remark (545 chars)

    Directly across the street form the Gulf of Mexico with gorgeous canal views- this charming island home awaits! Offering a split floorplan, 3 Bedrooms, 2 Bathrooms with cozy kitchen open to living room and large enclosed lanai with amazing canal views perfect for entertaining. Large Master Bedroom, 2-car garage with extra storage and spacious lower level patio are just a few of the features this home boasts. Private fenced in pool area and patio with outdoor shower make for an inviting retreat after a day at the beach! This one won't last!

20. 2021-10-18
    listed $1,200,000 Active 545-char remark

    Show marketing remark (545 chars)

    Directly across the street form the Gulf of Mexico with gorgeous canal views- this charming island home awaits! Offering a split floorplan, 3 Bedrooms, 2 Bathrooms with cozy kitchen open to living room and large enclosed lanai with amazing canal views perfect for entertaining. Large Master Bedroom, 2-car garage with extra storage and spacious lower level patio are just a few of the features this home boasts. Private fenced in pool area and patio with outdoor shower make for an inviting retreat after a day at the beach! This one won't last!

21. 1991-12-11
    soldstatus $260,000

ⓘ 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: $13,634 · $1,136/mo
• Projected year-2 tax: $13,634 · $1,136/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 27 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: $227,757
• − Mortgage interest: −$64,922
• − Property taxes: −$13,634
• − Insurance: −$10,914
• − Repairs & maintenance: −$18,221
• − Management: −$18,221
• − Depreciation: −$33,716
• Taxable income: $68,130
• Est. tax owed @ 24.0%: −$16,351
• After-tax cash flow: $66,095/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

+345.8% since first listed

11 events — show timeline

• 2026-04-02 Price Changed $1,159,000 FORTMLS
• 2026-03-11 Price Changed $1,239,000 FORTMLS
• 2026-01-27 Listed $1,339,000 FORTMLS
• 2025-07-14 Listing Removed — FORTMLS
• 2025-04-30 Price Changed $1,400,000 FORTMLS
• 2025-01-14 Listed $1,595,000 FORTMLS
• 2022-03-29 Sold (Public Records) $1,050,000 Public Records
• 2022-03-25 Sold (MLS) $1,050,000 FORTMLS
• 2022-01-18 Pending — FORTMLS
• 2021-10-18 Listed $1,200,000 FORTMLS
• 1991-12-11 Sold (Public Records) $260,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $13,634 · +88.6% YoY. Source: county tax records.