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11777 Grand Belvedere Way #201 🌊 Lakefront
F Composite 34.33
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 +15.0/15.0
  • Livability +4.3/5.0
  • Condition / age +4.0/5.0
  • Schools +3.7/10.0
  • Rent growth +2.6/5.0
  • 1% rule +2.5/10.0
  • Cash flow +2.2/30.0
  • DSCR +0.0/10.0
  • Appreciation +0.0/10.0

$359,000

11777 Grand Belvedere Way #201 · Fort Myers, FL 33913
2 bd · 2.0 ba · 1,873 sqft · Condo · 9 Days on market
Built 2019 Good condition Garage $192/sqft · 30% below area Est $516k · 30% under · waterfront $947/mo HOA · 35% of rent ↓ 3% since listing

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

Listing remarks

EXPERIENCE LAKEFRONT LIVING IN THE RESORT-STYLE COMMUNITY OF ARBORWOOD PRESERVE! Discover the Southwest Florida lifestyle in this beautiful second-floor, 2-bedroom plus generous den, 2-bathroom lakefront condominium located in the highly desirable gated community of Arborwood Preserve in Fort Myers. Enjoy picturesque lake views and peaceful surroundings from your private screened lanai, the perfect setting for morning coffee, afternoon relaxation, or simply unwinding while taking in the tranquil waterfront scenery. At the heart of this exceptional community is an impressive 23,000+ square-foot Town Center offering an extraordinary collection of resort-style amenities.

Key facts

  • Lakefront living
  • $947 HOA
  • Garage

Tags

LAKEFRONT LIVINGPRIVATE SCREENED LANAIRESORT STYLE COMMUNITYSPECTACULAR SWIMMING POOLFOUR PICKLEBALL COURTSTWO BOCCE BALL COURTS

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 2-bed/2.0-bath condo listed at $359k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
  • To cash-flow at today's rent, offer at most $172k (52.1% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (24.7% below list).
  • Recommended offer: $172k (52.1% below list) — sets the bar for cash-flow.
  • Cap rate 2.0% vs local median 2.7% in Fort Myers — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 1225 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

  • Watch-outs: HOA is 35% 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 $172,040 (52.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  3. 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?
  4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  5. 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?
  6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
  7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
  8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
  9. 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.
  10. 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.
  11. 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
0.75% ✗
Cap rate
1.97%
Cash-on-cash
-15.42%
DSCR
0.31
GRM
11.1

CMA / ARV

ARV (median comp)
$515,672
List price
$359,000
Delta
-30.38%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold
IRR
-50.6%
Equity multiple
-0.46×
Total profit
$-146,813
Equity at exit
$53,528
10-year hold
IRR
—
Equity multiple
-1.57×
Total profit
$-258,414
Equity at exit
$31,040

Cash invested: $100,520 (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.

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
1225
Price-to-rent
11.1×

Monthly cashflow live

Estimated rent
$2,704 high interval (Pro) →
Mortgage (P&I)
−$1,883
Tax est. 1.5%
−$449 /mo · $5,385/yr
Insurance
−$150
HOA
−$947
Vacancy / Maint / Mgmt
−$568
Net cashflow
$-1,292

Break-even live

Break-even rent $4,339
Max offer price $172,040
Occupancy floor —

Sensitivity live

Price -10% $-1,044 -5% $-1,168 +0% $-1,292 +5% $-1,416 +10% $-1,540
Rent -10% $-1,506 -5% $-1,399 +0% $-1,292 +5% $-1,185 +10% $-1,078
Rate -1.0pp $-1,111 -0.5pp $-1,201 base $-1,292 +0.5pp $-1,385 +1.0pp $-1,480

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
$89,750
Closing costs
$10,770
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
11784 Grand Belvedere Way Unit 202 Fort Myers, FL 3.0 2.0 1891 $3,000 $1.59 55d 1 0.10mi
11784 Grand Belvedere Way Unit 202 Fort Myers, FL 3.0 2.0 1891 $3,000 $1.59 10d 1 0.10mi
11910 Bay Oak Dr Fort Myers, FL 3.0 3.0 2445 $3,295 $1.35 52d 1 0.21mi
11848 Arbor Trace Dr Fort Myers, FL 3.0 3.0 2032 $9,250 $4.55 10d 1 0.22mi
11848 Arbor Trace Dr Fort Myers, FL 3.0 3.0 2032 $9,250 $4.55 43d 1 0.22mi
12056 Westmoreland Way Fort Myers, FL 2.0 2.0 1433 $2,800 $1.95 10d 1 0.26mi
11752 Bowes Cir Fort Myers, FL 3.0 2.5 2319 $3,100 $1.34 50d 1 0.36mi
11624 Onyx Cir Fort Myers, FL 3.0 3.0 2201 $5,000 $2.27 130d 1 0.39mi
11572 Shady Blossom Dr Fort Myers, FL 3.0 3.0 2032 $3,200 $1.57 0d 1 0.42mi
12060 Summergate Cir Unit D-203 Fort Myers, FL 2.0 2.0 1310 $1,575 $1.20 2d 1 0.44mi
11564 Golden Oak Ter Fort Myers, FL 2.0 2.0 1917 $2,500 $1.30 138d 1 0.47mi
11853 Hickory Estate Cir Fort Myers, FL 3.0 3.0 2434 $4,250 $1.75 10d 1 0.49mi
12090 Summergate Cir #101 Fort Myers, FL 3.0 2.0 1231 $1,825 $1.48 138d 1 0.50mi
12090 Summergate Cir #101 Fort Myers, FL 3.0 2.0 1231 $1,825 $1.48 164d 1 0.50mi
12508 Hammock Cove Blvd Fort Myers, FL 3.0 2.5 1829 $2,200 $1.20 10d 1 0.50mi
12508 Hammock Cove Blvd Fort Myers, FL 3.0 2.5 1829 $2,200 $1.20 6d 1 0.50mi
11876 Misty Arbor Run Fort Myers, FL 3.0 3.0 2434 $3,900 $1.60 35d 1 0.53mi
12542 Westhaven Way Fort Myers, FL 3.0 2.5 1942 $2,100 $1.08 55d 1 0.56mi
12542 Westhaven Way Fort Myers, FL 3.0 2.5 1942 $2,100 $1.08 10d 1 0.56mi
12062 Via Lighthouse Ln Fort Myers, FL 3.0 2.5 1879 $2,050 $1.09 110d 1 0.63mi
11530 Villa Grand #1115 Fort Myers, FL 3.0 2.0 1336 $1,750 $1.31 110d 1 0.65mi
11530 Villa Grand #1115 Fort Myers, FL 3.0 2.0 1336 $1,750 $1.31 133d 1 0.65mi
11510 Villa Grand #403 Fort Myers, FL 3.0 2.0 1336 $1,650 $1.24 10d 1 0.65mi
11510 Villa Grand #403 Fort Myers, FL 3.0 2.0 1336 $1,650 $1.24 55d 1 0.65mi
12835 Epping Way Fort Myers, FL 2.0 2.0 1804 $6,000 $3.33 41d 1 0.71mi
11571 Villa Grand #617 Fort Myers, FL 3.0 2.0 1336 $1,950 $1.46 127d 1 0.73mi
12031 Champions Green Way #808 Fort Myers, FL 3.0 2.0 1725 $2,200 $1.28 41d 1 0.74mi
11012 Castlereagh St Fort Myers, FL 3.0 3.0 2517 $11,000 $4.37 41d 1 0.76mi
11701 Avingston Ter Fort Myers, FL 2.0 2.0 1553 $5,500 $3.54 10d 1 0.79mi
10952 Clarendon St Fort Myers, FL 2.0 2.0 1582 $4,000 $2.53 164d 1 0.83mi
10900 Glenhurst St Fort Myers, FL 2.0 2.0 1355 $2,200 $1.62 138d 1 0.85mi
10900 Glenhurst St Fort Myers, FL 2.0 2.0 1355 $2,200 $1.62 143d 1 0.85mi
12155 Corcoran Pl Fort Myers, FL 2.0 2.0 1804 $9,000 $4.99 10d 1 0.86mi
10879 Rutherford Rd Fort Myers, FL 2.0 2.0 1566 $3,500 $2.23 35d 1 0.88mi
10879 Rutherford Rd Fort Myers, FL 2.0 2.0 1566 $3,500 $2.23 10d 1 0.88mi
11512 Shady Palm Way Fort Myers, FL 3.0 3.0 1852 $2,995 $1.62 6d 1 0.90mi
11512 Shady Palm Way Fort Myers, FL 3.0 3.0 1852 $2,995 $1.62 41d 1 0.90mi
12300 Professional Park Dr Fort Myers, FL 1.0–3.0 1.0–2.0 1058 $1,905 $1.80 10d 25 0.91mi
10908 Clarendon St Fort Myers, FL 3.0 2.0 1433 $4,500 $3.14 10d 1 0.91mi
10908 Clarendon St Fort Myers, FL 3.0 2.0 1433 $4,500 $3.14 138d 1 0.91mi

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 $947/mo · $11,364/yr condo

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

Listing history 32 events

  1. 2026-11-08
    days on market $359,000 Active 9 DOM
  2. 2026-11-07
    days on market $359,000 Active 8 DOM
  3. 2026-11-06
    days on market $359,000 Active 7 DOM
  4. 2026-11-05
    days on market $359,000 Active 6 DOM
  5. 2026-11-04
    days on market $359,000 Active 5 DOM
  6. 2026-11-02
    days on market $359,000 Active 3 DOM
  7. 2026-11-01
    days on market $359,000 Active 2 DOM
  8. 2026-11-01
    remarks 699-char remark
  9. 2026-11-01
    pricedays on marketlisting id $359,000 Active 1 DOM
  10. 2026-07-07
    days on market $350,000 Active 131 DOM
  11. 2026-07-06
    days on market $350,000 Active 130 DOM
  12. 2026-07-05
    days on market $350,000 Active 129 DOM
  13. 2026-07-02
    days on market $350,000 Active 126 DOM
  14. 2026-07-01
    days on market $350,000 Active 125 DOM
  15. 2026-06-30
    days on market $350,000 Active 124 DOM
  16. 2026-06-29
    days on market $350,000 Active 123 DOM
  17. 2026-06-28
    days on market $350,000 Active 122 DOM
  18. 2026-06-25
    days on market $350,000 Active 118 DOM
  19. 2026-06-22
    days on market $350,000 Active 116 DOM
  20. 2026-06-22
    days on market $350,000 Active 115 DOM
  21. 2026-06-17
    days on market $350,000 Active 111 DOM
  22. 2026-06-16
    days on market $350,000 Active 110 DOM
  23. 2026-06-15
    days on market $350,000 Active 109 DOM
  24. 2026-06-13
    days on market $350,000 Active 107 DOM
  25. 2026-06-10
    days on market $350,000 Active 104 DOM
  26. 2026-06-09
    days on market $350,000 Active 103 DOM
  27. 2026-06-07
    days on market $350,000 Active 101 DOM
  28. 2026-06-02
    days on market $350,000 Active 96 DOM
  29. 2026-06-01
    days on market $350,000 Active 95 DOM
  30. 2026-06-01
    pricedays on market $350,000 Active 94 DOM
  31. 2026-04-23
    price $360,000
  32. 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
$32,445
− Mortgage interest
−$20,110
− Property taxes
−$5,385
− Insurance
−$1,795
− Repairs & maintenance
−$2,596
− Management
−$2,596
− HOA
−$11,364
− Depreciation
−$10,444
Taxable loss
−$21,844
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$5,243
After-tax cash flow
$-10,262/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%
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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