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11777 Grand Belvedere Way #201
F Composite 34.21
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 +10.4/15.0
  • Cash flow +5.1/30.0
  • Livability +4.3/5.0
  • 1% rule +4.1/10.0
  • Condition / age +4.0/5.0
  • Schools +3.7/10.0
  • Rent growth +2.6/5.0
  • DSCR +0.0/10.0
  • Appreciation +0.0/10.0

$350,000

11777 Grand Belvedere Way #201 · Fort Myers, FL 33913
3 bd · 2.0 ba · 1,873 sqft · Condo · 131 Days on market
Built 2019 Good condition Garage $187/sqft · 6% below area Est $374k · 6% under $921/mo HOA · 29% of rent ↓ 3% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Experience refined, resort-style living in the highly sought-after community of Arborwood Preserve. Selling BELOW APPRAISED VALUE!! This beautifully maintained (and hardly used) second-floor coach home with DIRECT WATER VIEWS offers an open, light-filled layout designed for comfort and effortless entertaining. The spacious living area flows seamlessly into a private screened lanai with 2 sets of triple hurricane resistant glass sliders, creating the perfect setting to relax and enjoy Southwest Florida’s year-round sunshine. Massive primary suite closet, glass shower, dual sinks and gorgeous water views from your impact windows!

Key facts

  • Rock waterfall
  • Pickleball courts
  • Resort style pool

Tags

RESORT STYLE POOLLAP POOLROCK WATERFALLPICKLEBALL COURTSTENNIS COURTSFITNESS STUDIO

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.0-bath condo listed at $350k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-812 ($-10k/yr) — negative.
  • To cash-flow at today's rent, offer at most $232k (33.6% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $320k (8.6% below list).
  • Recommended offer: $232k (33.6% below list) — sets the bar for cash-flow.
  • Cap rate 3.5% vs local median 2.8% in Fort Myers — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
  • Zoned schools: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
  • Market conditions: Rents flat; 954 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
  • This rent runs 35% of the median local income ($110k/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 $2k of loan paydown is wiped out by about $10k 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 131 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 29% of rent.
  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $232,489 (33.6% below list)

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. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
  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. 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?
  8. 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.
  9. 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.
  10. 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
0.91%
Cap rate
3.51%
Cash-on-cash
-9.94%
DSCR
0.56
GRM
9.1

CMA / ARV

ARV (median comp)
$374,084
List price
$350,000
Delta
-6.44%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
11781 Grand Belvedere Way #203 0.03mi 2/2.0 (-1) 1,873 (0%) 2mo $342,000 $183 92
11331 Merriweather Ct 0.38mi 3/2.0 1,912 (+2%) 2mo $680,000 $356 77
11597 Golden Oak Ter 0.43mi 2/2.0 (-1) 1,917 (+2%) 0mo $400,000 $209 71
11543 Golden Oak Ter 0.54mi 2/2.0 (-1) 1,917 (+2%) 2mo $400,000 $209 64
11175 Callaway Greens Dr 0.89mi 3/2.0 1,820 (-3%) 0mo $480,000 $264 60
11395 Tiverton Trce 1.07mi 3/2.0 2,010 (+7%) 0mo $485,000 $241 53
11920 Bourke Pl 0.49mi 3/2.0 2,177 (+16%) 0mo $600,000 $276 52
10878 Dennington Rd 0.98mi 2/2.0 (-1) 1,969 (+5%) 0mo $540,000 $274 51
12168 Country Day Cir 1.16mi 3/2.0 2,112 (+13%) 0mo $420,000 $199 44
12258 Championship Cir 0.94mi 3/2.0 1,601 (-14%) 2mo $370,000 $231 39
11772 Mahogany Run 0.98mi 3/3.0 2,282 (+22%) 0mo $472,000 $207 36
11217 Suffield St 1.12mi 2/2.0 (-1) 1,540 (-18%) 0mo $350,000 $227 35

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 · 0.37% rent growth · sell at horizon

5-year hold
IRR
-38.5%
Equity multiple
-0.18×
Total profit
$-116,074
Equity at exit
$52,186
10-year hold
IRR
-89.1%
Equity multiple
-1.01×
Total profit
$-197,299
Equity at exit
$30,262

Cash invested: $98,000 (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.

Active competition Active MLS

For sale now
0 active · 6 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33913

Home prices YoY
-10.3%
Rents YoY
0.4%
Active inventory
954
Price-to-rent
9.1×

Monthly cashflow live

Estimated rent
$3,200 high interval (Pro) →
Mortgage (P&I)
$1,835
Tax est. 1.5%
$438 /mo · $5,250/yr
Insurance
$146
HOA
$921
Vacancy / Maint / Mgmt
$672
Net cashflow
$-812

Break-even live

Break-even rent $4,228
Max offer price $232,489
Occupancy floor

Sensitivity live

Price -10% $-570 -5% $-691 +0% $-812 +5% $-933 +10% $-1,054
Rent -10% $-1,065 -5% $-938 +0% $-812 +5% $-686 +10% $-559
Rate -1.0pp $-636 -0.5pp $-723 base $-812 +0.5pp $-903 +1.0pp $-995

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
$87,500
Closing costs
$10,500
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
11624 Onyx Cir Fort Myers, FL 3.0 3.0 2201 $5,000 $2.27 39d 1 0.39mi
11548 Shady Blossom Dr Fort Myers, FL 4.0 3.0 2032 $4,500 $2.21 17d 1 0.47mi
11564 Golden Oak Ter Fort Myers, FL 2.0 2.0 1917 $2,500 $1.30 46d 1 0.47mi
12090 Summergate Cir #101 Fort Myers, FL 3.0 2.0 1231 $1,825 $1.48 72d 1 0.50mi
12090 Summergate Cir #101 Fort Myers, FL 3.0 2.0 1231 $1,825 $1.48 46d 1 0.50mi
12062 Via Lighthouse Ln Fort Myers, FL 3.0 2.5 1879 $2,050 $1.09 19d 1 0.63mi
11530 Villa Grand #1115 Fort Myers, FL 3.0 2.0 1336 $1,750 $1.31 19d 1 0.65mi
11530 Villa Grand #1115 Fort Myers, FL 3.0 2.0 1336 $1,750 $1.31 41d 1 0.65mi
11571 Villa Grand #617 Fort Myers, FL 3.0 2.0 1336 $1,950 $1.46 35d 1 0.73mi
11012 Castlereagh St Fort Myers, FL 3.0 3.0 2517 $12,000 $4.77 72d 1 0.76mi
11701 Avingston Ter Fort Myers, FL 2.0 2.0 1553 $5,500 $3.54 63d 1 0.79mi
10952 Clarendon St Fort Myers, FL 2.0 2.0 1582 $4,000 $2.53 72d 1 0.83mi
10900 Glenhurst St Fort Myers, FL 2.0 2.0 1355 $2,200 $1.62 46d 1 0.85mi
10900 Glenhurst St Fort Myers, FL 2.0 2.0 1355 $2,200 $1.62 52d 1 0.85mi
10879 Rutherford Rd Fort Myers, FL 2.0 2.0 1566 $5,500 $3.51 30d 1 0.88mi
11512 Shady Palm Way Fort Myers, FL 3.0 3.0 1852 $2,995 $1.62 19d 1 0.90mi
12300 Professional Park Dr Fort Myers, FL 1.0–3.0 1.0–2.0 1058 $2,345 $2.22 72d 25 0.91mi
10908 Clarendon St Fort Myers, FL 3.0 2.0 1433 $8,000 $5.58 63d 1 0.91mi
10908 Clarendon St Fort Myers, FL 3.0 2.0 1433 $4,500 $3.14 46d 1 0.91mi
11442 Tiverton Trce Fort Myers, FL 3.0 2.0 2010 $9,500 $4.73 72d 1 0.95mi
12096 Ledgewood Cir Fort Myers, FL 3.0 2.0 1798 $2,850 $1.59 72d 1 0.95mi
11230 Suffield St Fort Myers, FL 2.0 2.0 1560 $8,500 $5.45 72d 1 1.06mi
11343 Tiverton Trce Fort Myers, FL 2.0 2.0 1685 $4,000 $2.37 52d 1 1.09mi
10271 Glastonbury Cir #102 Fort Myers, FL 2.0 2.0 1550 $4,500 $2.90 72d 1 1.11mi
11387 Waterford Village Dr Fort Myers, FL 3.0 2.0 1732 $2,795 $1.61 32d 1 1.11mi
12074 Country Day Cir Fort Myers, FL 3.0 2.0 2110 $2,400 $1.14 16d 1 1.13mi
11801 Pine Timber Ln Fort Myers, FL 3.0 2.5 2508 $8,000 $3.19 72d 1 1.15mi
11394 Waterford Village Dr Fort Myers, FL 3.0 3.0 1790 $2,850 $1.59 35d 1 1.17mi
11225 Lithgow Ln Fort Myers, FL 2.0 2.0 2153 $4,500 $2.09 46d 1 1.18mi
12908 New Market St #201 Fort Myers, FL 3.0 2.5 2198 $3,000 $1.36 72d 1 1.18mi
11619 Meadowrun Cir Fort Myers, FL 3.0 2.5 2242 $2,495 $1.11 72d 1 1.19mi
10535 Carolina Willow Dr Fort Myers, FL 3.0 2.0 1290 $2,300 $1.78 70d 1 1.20mi
12774 Devonshire Lakes Cir Fort Myers, FL 2.0 2.0 1527 $1,950 $1.28 27d 1 1.23mi
10820 Palazzo Way #203 Fort Myers, FL 2.0 2.0 1235 $5,400 $4.37 72d 1 1.25mi
12171 Treeline Ave Fort Myers, FL 1.0–3.0 1.0–2.0 1256 $3,331 $2.65 16d 24 1.26mi
12016 Five Waters Cir Fort Myers, FL 3.0 2.0 1646 $4,500 $2.73 72d 1 1.27mi
10791 Palazzo Way #301 Fort Myers, FL 2.0 2.0 1390 $5,300 $3.81 72d 1 1.27mi
12797 Vista Pine Cir Fort Myers, FL 4.0 2.0 2146 $2,495 $1.16 41d 1 1.32mi
11761 Pinewood Lakes Dr Fort Myers, FL 4.0 3.0 2528 $2,850 $1.13 26d 1 1.34mi
10529 Casella Way #102 Fort Myers, FL 3.0 2.0 1722 $4,500 $2.61 72d 1 1.35mi

Property features AI

Finance

Other
Part of a complex with multiple units (8 units in building, approx. 120 units in complex)
Financial info
Condo management
HOA & community
Mandatory HOAMaster HOA fee charged quarterlyCondo fee charged quarterlyMaster HOA covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, management, recreation facilities, repairs, security, sewer, street lights, trash removal, waterCommunity amenities include bocce court, community pool, community room, exercise room, hobby room, library, pickleball, restaurant, sidewalks, streetlights, tennis court, theaterTotal annual recurring fees listedOne-time fees listed

Exterior

Parking
Attached garage (1 space)Driveway with paved parking and 2+ spaces
Security
Gated community
Utilities
Central waterCentral sewerElectric service (central)
Home design
Residential propertyLow rise (1-3) carriage/coach buildingTwo-story (total floors: 2)Rear exposure southeastLocated in Arborwood Preserve
Construction
Built in 2019Concrete block constructionStucco exteriorTile roofImpact resistant windows and doors
Exterior features
PatioPond viewIrrigation (central)

Interior

Kitchen
Kitchen islandPantryRangeMicrowaveDishwasherRefrigerator/Freezer
Bedrooms
3 bedroomsMaster bedroom upstairsSplit bedroom floor plan
Flooring
CarpetTile
Bathrooms
2 full bathroomsMaster bath with shower only
Heating & cooling
Central electric heatCentral electric air conditioningCeiling fansCable available
Interior features
Cable prewireFire sprinkler systemFrench doorsHigh-speed internet availableVaulted ceilingDen/StudyScreened lanai/porchDining area in living room
Laundry & utility
Washer and dryer in residenceGrill (other)Smoke detector

HOA detail $921/mo · $11,052/yr condo

Likely covers
water
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 23 events

  1. 2026-07-07
    days on market $350,000 Active 131 DOM
  2. 2026-07-06
    days on market $350,000 Active 130 DOM
  3. 2026-07-05
    days on market $350,000 Active 129 DOM
  4. 2026-07-02
    days on market $350,000 Active 126 DOM
  5. 2026-07-01
    days on market $350,000 Active 125 DOM
  6. 2026-06-30
    days on market $350,000 Active 124 DOM
  7. 2026-06-29
    days on market $350,000 Active 123 DOM
  8. 2026-06-28
    days on market $350,000 Active 122 DOM
  9. 2026-06-25
    days on market $350,000 Active 118 DOM
  10. 2026-06-22
    days on market $350,000 Active 116 DOM
  11. 2026-06-22
    days on market $350,000 Active 115 DOM
  12. 2026-06-17
    days on market $350,000 Active 111 DOM
  13. 2026-06-16
    days on market $350,000 Active 110 DOM
  14. 2026-06-15
    days on market $350,000 Active 109 DOM
  15. 2026-06-13
    days on market $350,000 Active 107 DOM
  16. 2026-06-10
    days on market $350,000 Active 104 DOM
  17. 2026-06-09
    days on market $350,000 Active 103 DOM
  18. 2026-06-07
    days on market $350,000 Active 101 DOM
  19. 2026-06-02
    days on market $350,000 Active 96 DOM
  20. 2026-06-01
    days on market $350,000 Active 95 DOM
  21. 2026-06-01
    pricedays on market $350,000 Active 94 DOM
  22. 2026-04-23
    price $360,000
  23. 2026-02-26
    listed $370,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
  • 🔥 Wildfire 2/10 Low
  • 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$38,395
− Mortgage interest
−$19,605
− Property taxes
−$5,250
− Insurance
−$1,750
− Repairs & maintenance
−$3,072
− Management
−$3,072
− HOA
−$11,052
− Depreciation
−$10,182
Taxable loss
−$15,587
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$3,741
After-tax cash flow
$-6,004/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

Good 80/100 Cosmetic rehab Est. rehab $9,365–$28,095 screening

This beautifully maintained townhouse in Arborwood Preserve offers a good condition with minimal repairs needed. It's located in a highly sought-after community with direct water views, making it an excellent investment opportunity.

Value-add opportunities

  • Both Painting exterior siding — Enhances curb appeal and value
  • Both Landscaping improvements — Enhances curb appeal and value
  • Both New flooring in bathrooms — Improves aesthetics and functionality
  • Both New kitchen appliances — Modernizes the space and enhances value

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 37/100

Zoned Schools

Elementary Edgewood Academy F FL #1,684/2,144 Nat'l #22,764/41,679 Middle Paul Laurence Dunbar Middle School C+ FL #217/571 Nat'l #3,033/14,009 High East Lee County High School F FL #533/667 Nat'l #13,485/17,239

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
A Composite livability gradescore 86/100

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 · 871,946 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
13% of renters

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

Price history

-2.7% since first listed
2 events — show timeline
  • 2026-04-23 Price Changed $360,000 NAPLESMLS
  • 2026-02-26 Listed $370,000 NAPLESMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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