608 SE 2nd Pl · Cape Coral, FL 33990

$5,000

3 bd · 2.0 ba · 1,954 sqft · SingleFamily public records · 1 Days on market

Built 1990

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +0.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Statistical purposes only.

Key facts

• 2 garage spots
• Built 1990

Property features AI

Finance

• Other: Directions: Santa Barbara Blvd to East onto SE 6th St, then south onto SE 2nd Pl

Exterior

• Parking: 2-car garage
• Home design: Residential property; 1 story
• Exterior features: Lot zoned R 1-D

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Single-story layout

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$406,432) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• Cap rate 394.9% 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 (-7.1%/yr); 467 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 36% of the median local income ($71k/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 $35 of loan paydown is wiped out by about $150 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 + 0.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y ago 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.

Risks & watch-outs

• 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 $5,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 41.86% ✓
• Cap rate: 394.87%
• Cash-on-cash: 1387.79%
• DSCR: 62.75
• GRM: 0.2

CMA / ARV

• ARV (on-the-fly): $406,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 SE 4th Ter	0.26mi	3/2.0	1,918 (-2%)	10mo	$385,000	$201	76
318 SE 4th Ter	0.33mi	4/2.0 (+1)	1,960 (+0%)	9mo	$311,000	$159	72
414 SE 6th St	0.26mi	3/2.0	1,864 (-5%)	15mo	$330,000	$177	68
141 SE 5th St	0.18mi	4/2.0 (+1)	1,828 (-6%)	13mo	$308,000	$168	65
414 SE 6th Ter	0.26mi	4/2.0 (+1)	2,089 (+7%)	13mo	$365,000	$175	61
531 SE 8th Ter	0.50mi	4/2.0 (+1)	1,828 (-6%)	4mo	$380,000	$208	58
222 SE 2nd Ave	0.48mi	4/3.0 (+1)	2,098 (+7%)	1mo	$655,000	$312	56
139 SE 2nd Ave	0.66mi	3/2.0	1,869 (-4%)	8mo	$530,000	$284	55
526 SE 3rd Ter	0.57mi	4/3.0 (+1)	2,020 (+3%)	7mo	$359,999	$178	53
413 SE 4th St	0.44mi	4/3.0 (+1)	2,020 (+3%)	18mo	$426,990	$211	50
267 SE 1st Ave	0.37mi	3/2.0	1,695 (-13%)	14mo	$640,000	$378	49
110 SE 11th Ter	0.65mi	4/3.0 (+1)	2,002 (+2%)	16mo	$627,000	$313	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 69.72×
• Total profit: $96,208
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 138.84×
• Total profit: $192,982
• Equity at exit: $432

Cash invested: $1,400 (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 33990

• Rents YoY: -7.1%
• Active inventory: 467
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $2,093 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $1,619

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 18%

Sensitivity live

Price	-10% $1,623	-5% $1,621	+0% $1,619	+5% $1,617	+10% $1,616
Rent	-10% $1,454	-5% $1,536	+0% $1,619	+5% $1,702	+10% $1,784
Rate	-1.0pp $1,622	-0.5pp $1,620	base $1,619	+0.5pp $1,618	+1.0pp $1,616

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 SE 1st Pl Cape Coral, FL	4.0	2.0	1828	$1,811	$0.99	3d	1	0.11mi
218 SE 8th St Cape Coral, FL	3.0	2.0	1672	$2,020	$1.21	2d	1	0.17mi
114 SE 3rd St Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	24d	1	0.37mi
302 SE 3rd St Cape Coral, FL	3.0	2.0	1404	$2,055	$1.46	2d	1	0.46mi
302 SE 3rd St Cape Coral, FL	3.0	2.0	1404	$2,240	$1.60	21d	1	0.46mi
237 SE 3rd St Cape Coral, FL	4.0	2.0	1828	$2,326	$1.27	3d	1	0.48mi
528 SE 4th Ter Cape Coral, FL	3.0	2.0	1250	$1,800	$1.44	24d	1	0.52mi
537 SE 6th Pl Unit B Cape Coral, FL	2.0	2.0	2019	$1,575	$0.78	24d	1	0.54mi
611 SE 5th St Cape Coral, FL	2.0	2.0	1245	$1,395	$1.12	14d	1	0.60mi
159 SE Santa Barbara Pl Cape Coral, FL	3.0	2.0	1412	$2,250	$1.59	24d	1	0.64mi
271 SW 4th St Unit 271 Cape Coral, FL	3.0	2.0	1259	$2,000	$1.59	24d	1	0.65mi
616 SE 9th St Cape Coral, FL	2.0	2.0	1970	$1,400	$0.71	3d	1	0.66mi
142 SE 1st Ave Cape Coral, FL	3.0	2.0	1554	$1,900	$1.22	15d	1	0.66mi
149 Santa Barbara Blvd S Cape Coral, FL	3.0	2.0	1250	$1,520	$1.22	24d	1	0.67mi
410 SE 1st Ter Cape Coral, FL	4.0	2.0	2330	$2,800	$1.20	24d	1	0.68mi
410 SE 1st Ter Cape Coral, FL	4.0	2.0	2330	$2,600	$1.12	16d	1	0.68mi
134 SE 1st Ave Cape Coral, FL	3.0	2.0	1680	$2,331	$1.39	3d	1	0.69mi
910 SW 3rd Ave Cape Coral, FL	3.0	2.0	1380	$1,900	$1.38	12d	1	0.69mi
610 SE 10th St Unit A Cape Coral, FL	2.0	2.0	2188	$1,350	$0.62	3d	1	0.71mi
720 SE 8th Ter Cape Coral, FL	3.0	2.0	1250	$1,660	$1.33	24d	1	0.71mi
615 Cultural Park Blvd Unit 1 Cape Coral, FL	3.0	2.0	1240	$2,400	$1.94	24d	1	0.72mi
706 SE 4th Ter Cape Coral, FL	3.0	2.0	1250	$1,700	$1.36	24d	1	0.73mi
613 SE 2nd Ter Cape Coral, FL	3.0	2.0	1577	$4,100	$2.60	3d	1	0.77mi
1312 SE 2nd Pl Cape Coral, FL	3.0	2.0	2344	$1,395	$0.60	24d	1	0.82mi
409 SW 8th St Cape Coral, FL	4.0	2.0	2108	$3,500	$1.66	16d	1	0.85mi
231 Cultural Park Blvd Apt B Cape Coral, FL	2.0	2.0	1265	$1,600	$1.26	3d	1	0.86mi
433 SW 6th St Cape Coral, FL	3.0	2.0	2437	$2,225	$0.91	2d	1	0.87mi
30 SE 1st Pl Unit 3013 Cape Coral, FL	4.0	3.0	2020	$2,300	$1.14	24d	1	0.88mi
1304 SE 6th Ave Unit NA Cape Coral, FL	3.0	2.0	1300	$2,000	$1.54	24d	1	0.92mi
1403 SE 5th Pl Cape Coral, FL	3.0	2.0	1477	$2,200	$1.49	24d	1	0.99mi
603 SE 13th Ter Cape Coral, FL	2.0	2.0	2398	$1,750	$0.73	24d	1	1.00mi
220 SE 14th Ter Cape Coral, FL	4.0	2.0	1828	$1,721	$0.94	3d	1	1.00mi
406 SE 10th Ave Cape Coral, FL	3.0	2.0	1548	$2,141	$1.38	21d	1	1.01mi
712 SE 11th Ave Cape Coral, FL	3.0	2.0	1276	$1,730	$1.36	3d	1	1.05mi
607 SE 14th Ter Cape Coral, FL	3.0	2.0	2418	$1,650	$0.68	24d	1	1.11mi
1101 Country Club Blvd Cape Coral, FL	2.0	2.5	1554	$1,750	$1.13	15d	1	1.12mi
314 SE 15th Ter Cape Coral, FL	4.0	2.0	2010	$3,000	$1.49	24d	1	1.13mi
1136 SE 9th Ct Cape Coral, FL	3.0	2.0	1250	$1,700	$1.36	3d	1	1.13mi
1327 SW 3rd Ave Cape Coral, FL	3.0	2.0	1882	$2,800	$1.49	24d	1	1.13mi
1305 SE 8th Pl Unit 1305 Cape Coral, FL	3.0	2.0	1300	$2,550	$1.96	24d	1	1.14mi

Listing history 2 events

1. 2026-06-17
   remarks 310-char remark
2. 2026-06-17
   listed $5,000 Active 1 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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

Taxation est. · year 1

• Rental income: $25,119
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − Depreciation: −$145
• Taxable income: $20,574
• Est. tax owed @ 24.0%: −$4,938
• After-tax cash flow: $14,491/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): 34,713
• Household income: $70,665
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 1246.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 26% Two or more races 17% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 8% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 3%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 74% English-only · Spanish 20% Other Indo-European 2% 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: ▼ -196.42%
• Current HPI: 289.1969
• Rent YoY: ▼ -7.11%
• 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

-94.2% since first listed

17 events — show timeline

• 2026-06-17 Listed $5,000 NFMLS
• 2020-04-02 Sold (Public Records) $245,000 Public Records
• 2020-04-01 Listed $245,000 Stellar MLS as Distributed by MLS Grid
• 2020-04-01 Sold (MLS) $245,000 FORTMLS
• 2020-04-01 Sold (MLS) $245,000 Stellar MLS as Distributed by MLS Grid
• 2020-02-27 Pending — FORTMLS
• 2020-02-04 Price Changed $247,917 FORTMLS
• 2020-02-01 Listed $249,917 FORTMLS
• 2020-01-31 Listing Removed — FORTMLS
• 2020-01-24 Price Changed $249,917 FORTMLS
• 2019-12-10 Price Changed $251,917 FORTMLS
• 2019-11-09 Price Changed $254,917 FORTMLS
• 2019-10-09 Price Changed $259,917 FORTMLS
• 2019-08-20 Listed $269,917 FORTMLS
• 2013-09-17 Price Changed $119,900 FORTMLS
• 2001-05-09 Sold (MLS) $122,900 FORTMLS
• 1993-05-11 Sold (Public Records) $86,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $5,603 · +3.7% YoY. Source: county tax records.