3231 NW 4th Ave · Cape Coral, FL 33993

$309,990

4 bd · 2.0 ba · 1,593 sqft · Land · 84 Days on market

Built 2026 10,236 sqft lot

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Why this score? — see what drove the D- 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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled within a peninsula formed by the Gulf of Mexico and the Caloosahatchee River, Christopher Alan Homes is building new homes on individual "spot lots" in two distinctive Cape Coral areas:South Cape Coral -The city with its picturesque downtownoriginated here, where the river and Gulf meet just south of Cape Coral Parkway. Two toll bridges south of Pine Island Road link Cape Coral to the mainland while canal-front homesites provide the quickest access to the Gulf. North Cape Coral - The city's fastest-growing region, Pine Island Road, is in the midst of an ambitious development plan and building boom, bringing residential, retail, restaurants, entertainment venues, commercial growth and jobs to hundreds of acres, including a 131-acre multipurpose outdoor town center. DRE# 175519667

Key facts

• New construction
• Walk-in closet
• Covered lanai

Tags

• NEW CONSTRUCTION
• OPEN KITCHEN
• COVERED LANAI
• PRIVATE PRIMARY SUITE
• WALK-IN CLOSET
• RELAXING BATH

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association fee: $0

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage door opener
• Security: Smoke detector(s)
• Utilities: Cable available; Septic tank; Well water
• Home design: Single-story home; Entry level: 1; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Security/high impact doors; Open patio and porch; Patio; Porch; Room for pool; Rectangular lot; Lot dimensions approximately 84 x 125 x 80 x 125; Public maintained road; Property faces southwest; Exposure to the northeast

Interior

• Kitchen: Dishwasher; Icemaker; Microwave; Range; Refrigerator (with ice maker)
• Bedrooms: Guest quarters
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Cathedral ceilings; Dual sinks; Entrance foyer; High ceilings; Living/dining room; Pantry; Shower only; Separate shower; Walk-in pantry; Walk-in closets; Split bedrooms; Sliding windows; Impact glass windows; Unfurnished
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $310k.

Deal economics

• At list price, monthly cash flow is $-36 ($-430/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (26.8% below list).
• Recommended offer: $227k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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: Rents falling (-5.5%/yr); 2652 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 30% of the median local income ($91k/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 $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 84 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $42k; list at $310k implies a 638% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,863 (26.8% 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 84 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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 B-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. 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?
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 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: 0.73% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 11.4

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: -20.1%
• Equity multiple: 0.32×
• Total profit: $-59,320
• Equity at exit: $46,221

10-year hold

• IRR: -20.0%
• Equity multiple: 0.07×
• Total profit: $-80,932
• Equity at exit: $26,802

Cash invested: $86,797 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2652
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,269 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$73 /mo · $879/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-36

Break-even live

Break-even rent $2,314

Max offer price $303,663

Occupancy floor 97%

Sensitivity live

Price	-10% $140	-5% $52	+0% $-36	+5% $-124	+10% $-211
Rent	-10% $-215	-5% $-125	+0% $-36	+5% $54	+10% $143
Rate	-1.0pp $120	-0.5pp $43	base $-36	+0.5pp $-116	+1.0pp $-198

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: $77,498
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3055 NW 3rd Pl Cape Coral, FL	3.0	2.0	1184	$1,675	$1.41	4d	1	0.14mi
3220 NW 1st Ave Cape Coral, FL	4.0	2.0	1723	$2,250	$1.31	24d	1	0.19mi
3229 NW 1st Ave Cape Coral, FL	4.0	2.0	1828	$1,811	$0.99	3d	1	0.22mi
51 Wilmington Pkwy Cape Coral, FL	4.0	3.0	1681	$2,000	$1.19	24d	1	0.30mi
2936 NW 4th Pl Cape Coral, FL	4.0	2.0	1769	$1,895	$1.07	24d	1	0.35mi
2919 NW 4th Pl Cape Coral, FL	4.0	2.0	1639	$1,926	$1.18	4d	1	0.41mi
3024 NE 1st Ave Cape Coral, FL	4.0	2.0	1499	$1,695	$1.13	20d	1	0.56mi
2907 Santa Barbara Blvd N Cape Coral, FL	3.0	2.0	1209	$1,775	$1.47	11d	1	0.58mi
721 NW Douglas Cir Cape Coral, FL	3.0	2.0	1164	$1,770	$1.52	20d	1	0.65mi
3010 NE 1st Pl Cape Coral, FL	3.0	2.0	1582	$2,750	$1.74	24d	1	0.65mi
501 NW 26th Ter Cape Coral, FL	3.0	2.0	1465	$2,200	$1.50	15d	1	0.82mi
2616 NW 1st Pl Cape Coral, FL	4.0	2.0	1829	$1,946	$1.06	22d	1	0.83mi
2809 NW 8th Pl Cape Coral, FL	3.0	2.0	1400	$2,400	$1.71	24d	1	0.87mi
36 NW 26th St Cape Coral, FL	3.0	2.0	1270	$1,990	$1.57	4d	1	0.94mi
221 NW 25th St Cape Coral, FL	3.0	2.0	1407	$1,780	$1.27	24d	1	0.97mi
214 NW 25th St Cape Coral, FL	3.0	2.0	1983	$2,100	$1.06	24d	1	1.01mi
101 NW 25th St Cape Coral, FL	4.0	2.0	1613	$1,900	$1.18	4d	1	1.02mi
609 NW 25th St Cape Coral, FL	4.0	2.0	1556	$2,000	$1.29	4d	1	1.03mi
324 NW 24th Ter Cape Coral, FL	3.0	2.0	1499	$2,500	$1.67	4d	1	1.07mi
2604 NW 8th Pl Cape Coral, FL	4.0	2.0	1650	$1,795	$1.09	22d	1	1.08mi
2524 NE 1st Pl Cape Coral, FL	4.0	3.0	1683	$2,250	$1.34	24d	1	1.08mi
520 NW 23rd Ter Cape Coral, FL	4.0	2.0	1693	$2,350	$1.39	24d	1	1.23mi
2925 NE 6th Ave Cape Coral, FL	4.0	2.0	1651	$2,000	$1.21	24d	1	1.26mi
2227 NW 3rd Pl Cape Coral, FL	3.0	3.0	1771	$1,999	$1.13	15d	1	1.26mi
2227 NW 3rd Pl Cape Coral, FL	3.0	2.5	1771	$1,799	$1.02	24d	1	1.26mi
3026 NE 6th Pl Cape Coral, FL	4.0	2.0	1683	$2,095	$1.24	24d	1	1.26mi
2603 NE 4th Ave Cape Coral, FL	3.0	2.0	1356	$1,471	$1.08	4d	1	1.29mi
2620 NE 5th Ave Cape Coral, FL	3.0	2.0	1597	$3,500	$2.19	24d	1	1.31mi
331 NE 25th St Cape Coral, FL	4.0	2.0	1565	$2,000	$1.28	24d	1	1.33mi
2728 NE 6th Pl Cape Coral, FL	4.0	2.0	1760	$1,795	$1.02	2d	1	1.40mi
2308 NW 9th Ave Cape Coral, FL	4.0	3.0	1683	$2,200	$1.31	24d	1	1.43mi
1011 Kismet Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,100	$1.18	4d	1	1.43mi

Listing history 15 events

1. 2026-06-17
   days on market $309,990 Active 84 DOM
2. 2026-06-16
   days on market $309,990 Active 83 DOM
3. 2026-06-15
   days on market $309,990 Active 82 DOM
4. 2026-06-13
   pricedays on market $309,990 Active 80 DOM
5. 2026-06-10
   days on market $314,990 Active 77 DOM
6. 2026-06-09
   days on market $314,990 Active 76 DOM
7. 2026-06-07
   days on market $314,990 Active 74 DOM
8. 2026-06-03
   days on market $314,990 Active 70 DOM
9. 2026-06-02
   days on market $314,990 Active 69 DOM
10. 2026-06-01
    days on market $314,990 Active 68 DOM
11. 2026-06-01
    days on market $314,990 Active 67 DOM
12. 2026-03-26
    listed $314,990 Active 807-char remark

    Show marketing remark (807 chars)

    Nestled within a peninsula formed by the Gulf of Mexico and the Caloosahatchee River, Christopher Alan Homes is building new homes on individual "spot lots" in two distinctive Cape Coral areas:South Cape Coral -The city with its picturesque downtownoriginated here, where the river and Gulf meet just south of Cape Coral Parkway. Two toll bridges south of Pine Island Road link Cape Coral to the mainland while canal-front homesites provide the quickest access to the Gulf. North Cape Coral - The city's fastest-growing region, Pine Island Road, is in the midst of an ambitious development plan and building boom, bringing residential, retail, restaurants, entertainment venues, commercial growth and jobs to hundreds of acres, including a 131-acre multipurpose outdoor town center. DRE# 175519667

13. 2026-03-25
    listed $314,990 Active
14. 2025-12-03
    soldstatus $42,000
15. 2025-11-20
    soldstatus $34,000

ⓘ 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: $879 · $73/mo
• Projected year-2 tax: $2,573 · $214/mo
• Expected delta: +$1,694/yr (+$141/mo · 192.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $27,224
• − Mortgage interest: −$17,364
• − Property taxes: −$879
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − Depreciation: −$9,018
• Taxable loss: −$5,943
• Est. tax savings @ 24.0%: +$1,426
• After-tax cash flow: $997/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F 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: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+826.4% since first listed

4 events — show timeline

• 2026-03-26 Listed $314,990 Zillow
• 2026-03-25 Listed $314,990 FORTMLS
• 2025-12-03 Sold (Public Records) $42,000 Public Records
• 2025-11-20 Sold (Public Records) $34,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $879 · +13.2% YoY. Source: county tax records.