15393 Bellamar Cir · Iona, FL 33908

$210,000

3 bd · 2.0 ba · 1,043 sqft · SingleFamily · 16 Days on market

Built 2004 Good condition

---

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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Immaculate 2nd floor corner unit condo is looking for a new owner!! This pet friendly & amp; centrally located gated community is Walking distance to shopping, restaurants and less than 5 miles to Sanibel Island & amp; Fort Myers Beach. HOA fees are $563 a month and allows owners to lease 12 times a year with a 30 day minimum making this neighborhood great for a 2nd home or rental/investment property. This cute, clean, and cozy condo has been well kept and has an open floor plan. A/C & amp; Water heater were replaced in 2016. 2025 appliances and new floors! Amenities include a community pool & amp; Spa and a fitness center.

Key facts

• Gated community
• Fitness center
• Community pool

Tags

• CENTRALLY LOCATED
• GATED COMMUNITY
• WALKING DISTANCE TO SHOPPING
• COMMUNITY POOL
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.1% in Iona — 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 72/100 on livability (#359 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents soft (-1.2%/yr); 1251 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); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 35% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 16 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $206,850 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.55×
• Total profit: $-26,750
• Equity at exit: $31,312

10-year hold

• IRR: -9.8%
• Equity multiple: 0.49×
• Total profit: $-30,270
• Equity at exit: $18,157

Cash invested: $58,800 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1251
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$88
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $214

Break-even live

Break-even rent $1,921

Max offer price $210,000

Occupancy floor 85%

Sensitivity live

Price	-10% $359	-5% $287	+0% $214	+5% $141	+10% $69
Rent	-10% $41	-5% $127	+0% $214	+5% $301	+10% $387
Rate	-1.0pp $320	-0.5pp $267	base $214	+0.5pp $160	+1.0pp $104

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15401 Bellamar Cir #621 Fort Myers, FL	3.0	2.0	1040	$1,700	$1.63	13d	1	0.03mi
15385 Bellamar Cir #413 Fort Myers, FL	3.0	2.0	1043	$1,600	$1.53	25d	1	0.04mi
15417 Bellamar Cir #823 Fort Myers, FL	3.0	2.0	1043	$1,650	$1.58	23d	1	0.07mi
15417 Bellamar Cir #823 Fort Myers, FL	3.0	2.0	1043	$1,650	$1.58	25d	1	0.07mi
15430 Bellamar Cir #3023 Fort Myers, FL	3.0	2.0	1043	$3,500	$3.36	5d	1	0.12mi
15430 Bellamar Cir Unit 1546283P Fort Myers, FL	3.0	2.0	1033	$1,873	$1.81	16d	1	0.12mi
15430 Bellamar Cir Fort Myers, FL	3.0	2.0	1043	$2,400	$2.30	17d	2	0.12mi
15270 Ballast Point Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1094	$2,003	$1.83	3d	20	0.13mi
15433 Bellamar Cir Fort Myers, FL	3.0	2.0	1021	$2,575	$2.52	25d	2	0.13mi
15449 Bellamar Cir #1225 Fort Myers, FL	3.0	2.0	1043	$1,700	$1.63	15d	1	0.18mi
10770 Clear Lake Loop Fort Myers, FL	2.0–4.0	1.0–2.0	1108	$1,680	$1.52	25d	14	0.26mi
11400 Ocean Walk Ln Fort Myers, FL	1.0–2.0	1.0–2.0	856	$1,500	$1.75	5d	2	0.27mi
15625 Ocean Walk Cir #103 Fort Myers, FL	2.0	2.0	1287	$1,450	$1.13	23d	1	0.29mi
15655 Ocean Walk Cir Fort Myers, FL	1.0–2.0	1.0–2.0	856	$3,200	$3.74	16d	2	0.33mi
10743 Robinson St Fort Myers, FL	3.0	2.0	1216	$2,000	$1.64	25d	1	0.35mi
14967 Rivers Edge Ct Unit B2 Fort Myers, FL	2.0	2.0	1166	$1,700	$1.46	5d	1	0.36mi
11271 Jacana Ct #1706 Fort Myers, FL	2.0	2.0	1487	$4,500	$3.03	25d	1	0.39mi
15645 Ocean Walk Cir Fort Myers, FL	3.0	2.0	1287	$3,699	$2.87	4d	2	0.40mi
15645 Ocean Walk Cir Fort Myers, FL	3.0	2.0	1227	$2,774	$2.26	5d	3	0.40mi
14971 Rivers Edge Ct #101 Fort Myers, FL	2.0	2.0	1273	$2,000	$1.57	25d	1	0.40mi
15037 Tamarind Cay Ct #1503 Fort Myers, FL	3.0	2.0	1487	$2,000	$1.34	25d	1	0.43mi
14977 Rivers Edge Ct #219 Fort Myers, FL	2.0	2.0	1128	$1,599	$1.42	25d	1	0.45mi
15091 Tamarind Cay Ct #907 Fort Myers, FL	2.0	2.0	1487	$5,000	$3.36	25d	1	0.49mi
14873 Crescent Cove Dr Fort Myers, FL	3.0	2.0	1134	$3,500	$3.09	25d	1	0.53mi
11651 Pointe Cir Unit 1546272P Fort Myers, FL	2.0	2.0	1367	$1,249	$0.91	17d	1	0.60mi
603 McGregor Park Cir Fort Myers, FL	3.0	3.0	1345	$2,250	$1.67	25d	1	0.63mi
15773 Beachcomber Ave Unit 1264830P Fort Myers, FL	3.0	2.0	1496	$3,133	$2.09	15d	1	0.63mi
11093 Kelly Rd Fort Myers, FL	2.0	1.0	830	$2,000	$2.41	23d	1	0.65mi
7199 Blanquilla Ct Unit 1545910P Fort Myers, FL	3.0	2.0	1345	$2,341	$1.74	17d	1	0.69mi
7171 Drake Dr Fort Myers, FL	3.0	2.0	1346	$2,350	$1.75	25d	1	0.78mi
5421 Peppertree Dr Fort Myers, FL	2.0	2.0	1200	$2,000	$1.67	25d	1	0.78mi
7105 Quail Run Ct W #1 Fort Myers, FL	2.0	2.0	1124	$1,750	$1.56	25d	1	0.79mi
7113 Quail Run Ct W Unit W9 Fort Myers, FL	2.0	2.0	1028	$1,795	$1.75	25d	1	0.80mi
15514 Kapok Ct Fort Myers, FL	2.0	2.0	900	$1,850	$2.06	25d	1	0.86mi
11921 Seabreeze Cove Ln #208 Fort Myers, FL	2.0	2.0	1455	$4,399	$3.02	5d	1	0.89mi
5479 Peppertree Dr Unit E13 Fort Myers, FL	2.0	2.0	964	$1,950	$2.02	25d	1	0.91mi
16001 Amberwood Lake Ct #1 Fort Myers, FL	2.0	2.5	1060	$2,100	$1.98	25d	1	0.91mi
11601 Navarro Way #2102 Fort Myers, FL	2.0	2.0	1378	$4,500	$3.27	25d	1	0.93mi
11701 Pasetto Ln Unit 1049715P Fort Myers, FL	3.0	2.0	1496	$2,960	$1.98	23d	1	0.96mi
14320 Harbour Links Ct Unit 10A Fort Myers, FL	3.0	2.0	1498	$5,000	$3.34	13d	1	0.98mi

Listing history 8 events

1. 2026-06-22
   days on market $210,000 Active 16 DOM
2. 2026-06-17
   days on market $210,000 Active 12 DOM
3. 2026-06-16
   days on market $210,000 Active 11 DOM
4. 2026-06-16
   days on market $210,000 Active 10 DOM
5. 2026-06-13
   days on market $210,000 Active 8 DOM
6. 2026-06-09
   days on market $210,000 Active 4 DOM
7. 2026-06-07
   remarks 631-char remark
8. 2026-06-07
   listed $210,000 Active 2 DOM

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,304
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,847
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − Depreciation: −$6,109
• Taxable loss: −$774
• Est. tax savings @ 24.0%: +$186
• After-tax cash flow: $2,754/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 · 2 photos

Good 75/100 Cosmetic rehab

This well-maintained single-family home in a gated community is ready for a new owner. It features a good condition roof, exterior, and interior, with minimal maintenance required. Painting the exterior and improving landscaping would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping improvements — Enhances curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping improvements — Enhances curb appeal and rental value ↑

ⓘ 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 — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iona, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

1 event — show timeline

• 2026-06-05 Listed $210,000 FSBO.com