10482 Materita Dr · Fort Myers, FL 33913

$297,500

2 bd · 2.0 ba · 1,227 sqft · Townhouse public records · 1 Days on market

Built 2011 6,141 sqft lot Est $274k · 9% over $606/mo HOA · 14% of rent ↓ 55% since listing

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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 +27.1/30.0
• 1% rule +9.8/10.0
• DSCR +9.4/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• ARV discount +3.6/15.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best Value in Pelican Preserve: The Milan Design, located in the Materita neighborhood within the gated community of Pelican Preserve in Fort Myers, the Milan design home offers the best value in this active 55+ community. Built by the original Pelican Preserve Master Builder, this timeless open concept home is situated along a 13-acres of sparkling lake, providing over 330 feet of open water views. The private extended lanai is the perfect spot to start your day with a cup of coffee and enjoy the stunning evening sunsets. Whether you seek quiet solitude or want to entertain friends and family, the outdoor living area offers both options. Inside the well-maintained, low-maintenance home (HOA cleans the roofs and paints the exterior of the buildings) you will find 42” wood cabinets, granite countertops, 18" tile in the main living areas with luxury vinyl plank flooring in both bedrooms, a deluxe utility room with extra storage, easy-to-use upgraded accordion window shutters, and Storm Smart brand roll-down hurricane screens on the lanai making it easy for snowbirds to lock and leave when heading north. The recently expanded town center offers a wide range of amenities, including a staffed fitness and wellness center, indoor and outdoor pools, 8 tennis and 12 pickleball courts, 2 restaurants with outdoor dining options, card rooms, arts and crafts rooms, live entertainment, planned social activities, a concert pavilion, a 99-seat cinema, and more. Optional golf memberships are also available for those who enjoy the links. Just outside the gates of Pelican Preserve, residents are conveniently located near major shopping centers, various dining options, medical facilities, entertainment venues, and the international airport, all just minutes away. This Milan design home offers the perfect combination of luxury, convenience, and community living in the heart of Fort Myers at Pelican Preserve.

Key facts

• Walk-in tiled shower
• Lake view
• Extended lanai

Tags

• LAKE VIEW
• EXTENDED LANAI
• 42 SOLID WOOD KITCHEN CABINETS
• GRANITE COUNTERS
• WALK-IN TILED SHOWER
• REMODELED LAUNDRY ROOM

Property features AI

Finance

• Other: Part of a 2-unit community
• Financial info: Pets allowed (call; conditional)
• HOA & community: Homeowners association with quarterly fees; Association fees include management, cable TV, internet, irrigation water, grounds maintenance and pest control; Community amenities include beach rights, clubhouse, concierge, fitness center, pool, golf course, pickleball, tennis courts, playground, bocce court, basketball court, putting greens, billiards/media rooms, business center, library, park, dog park, RV/boat storage and pier

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 covered parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Underground utilities; Irrigation from municipal source
• Home design: Single-story home; Tile roof; Faces southeast; Entry at level 1; Attached property (has attached structure); Resale property; Waterfront on a lake; Northwest exposures
• Construction: Block, concrete and stucco construction
• Exterior features: Lanai; Patio; Porch; Screened porch; Shutters (electric and manual); Patio; Guest house (attached); Smoke detectors

Interior

• Kitchen: Dishwasher; Range; Self-cleaning oven; Microwave; Refrigerator; Freezer; Breakfast bar; Pantry; Eat-in kitchen
• Bedrooms: Guest quarters
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Breakfast bar; Dual sinks; Eat-in kitchen; Pantry; Separate shower; Shower only; Cable TV available; Walk-in closet(s); Window treatments; High speed internet available; Split bedroom layout; Single-hung windows
• Laundry & utility: Washer and dryer (inside laundry)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $298k.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $298k).
• Cap rate 9.7% vs local median 3.0% in Fort Myers — 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 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.
• Market conditions: Rents flat; 811 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,410/mo this rent would consume 48% of the median local household income ($110k/yr) (locally 276% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $297,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.48% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.14%
• DSCR: 1.54
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $273,621
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10480 Materita Dr	0.01mi	2/2.0	1,227 (0%)	5mo	$318,000	$259	95
10700 Palazzo Way #203	0.50mi	2/2.0	1,235 (+1%)	2mo	$277,000	$224	74
10720 Palazzo Way #103	0.50mi	2/2.0	1,235 (+1%)	2mo	$255,500	$207	74
10555 Diamante Way	0.64mi	2/2.0	1,227 (0%)	2mo	$281,000	$229	69
10751 Palazzo Way #402	0.59mi	2/2.0	1,242 (+1%)	3mo	$295,000	$238	68
10820 Palazzo Way #303	0.62mi	2/2.0	1,235 (+1%)	4mo	$235,000	$190	67
10800 Palazzo Way #204	0.60mi	2/2.0	1,235 (+1%)	11mo	$225,000	$182	62
10710 Ravenna Way #103	0.71mi	2/2.0	1,251 (+2%)	4mo	$260,000	$208	61
10710 Ravenna Way #203	0.71mi	2/2.0	1,251 (+2%)	5mo	$260,000	$208	60
10720 Ravenna Way #402	0.68mi	2/2.0	1,283 (+5%)	7mo	$260,000	$203	55
10700 Palazzo Way #101	0.50mi	3/2.0 (+1)	1,390 (+13%)	4mo	$309,500	$223	46
10244 Prato Dr	0.70mi	3/2.0 (+1)	1,411 (+15%)	6mo	$330,000	$234	33

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-5,500
• Equity at exit: $44,358

10-year hold

• IRR: 4.2%
• Equity multiple: 1.26×
• Total profit: $21,762
• Equity at exit: $25,722

Cash invested: $83,300 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $4,410 high
• Mortgage (P&I): −$1,560
• Tax from tax record: −$351 /mo · $4,214/yr
• Insurance: −$124
• HOA: −$606
• Vacancy / Maint / Mgmt: −$926
• Net cashflow: $842

Break-even live

Break-even rent $3,343

Max offer price $297,500

Occupancy floor 76%

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: $74,375
• Closing costs: $8,925
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	23d	1	0.13mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	23d	1	0.13mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	23d	1	0.14mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.30mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	23d	1	0.30mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	0.48mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	0.54mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	0.54mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	0.56mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	23d	1	0.59mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	0.60mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	23d	1	0.71mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	23d	2	0.77mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	0.88mi
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	23d	1	0.91mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	23d	1	0.92mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	23d	1	0.95mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	23d	1	1.12mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	23d	1	1.13mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	1.13mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	23d	1	1.13mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	1.15mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	23d	1	1.23mi
9217 Aviano Dr Fort Myers, FL	2.0	2.0	1227	$2,500	$2.04	11d	1	1.25mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	1.26mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	13d	1	1.26mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	14d	1	1.26mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	1.27mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	23d	1	1.28mi
9460 Ivy Brook Run #710 Fort Myers, FL	3.0	2.5	1220	$1,500	$1.23	11d	1	1.32mi
9440 Ivy Brook Run #509 Fort Myers, FL	3.0	2.5	1220	$1,500	$1.23	3d	1	1.36mi
9440 Ivy Brook Run Fort Myers, FL	2.0–3.0	2.5	1269	$1,550	$1.22	23d	2	1.36mi
9420 Ivy Brook Run Fort Myers, FL	2.0	2.5	1415	$1,700	$1.20	23d	1	1.41mi
12020 Champions Green Way #112 Fort Myers, FL	2.0	2.0	1056	$2,000	$1.89	11d	1	1.43mi
12010 Rock Brook Run #1704 Fort Myers, FL	2.0	2.5	1410	$1,750	$1.24	21d	1	1.43mi
12030 Champions Green Way #212 Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	1.45mi
9400 Ivy Brook Run Fort Myers, FL	3.0	2.5	1200	$1,495	$1.25	23d	1	1.45mi
12011 Rock Brook Run #2003 Fort Myers, FL	2.0	2.5	1344	$1,650	$1.23	16d	1	1.45mi
12001 Rock Brook Run #1903 Fort Myers, FL	2.0	2.5	1410	$1,750	$1.24	3d	1	1.46mi

HOA detail

• Monthly dues: $606 · $7,272/yr
• Likely covers: waterpoolsecurity

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $4,214 · $351/mo
• Projected year-2 tax: $4,214 · $351/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $52,917
• − Mortgage interest: −$16,665
• − Property taxes: −$4,214
• − Insurance: −$1,488
• − Repairs & maintenance: −$4,233
• − Management: −$4,233
• − HOA: −$7,272
• − Depreciation: −$8,655
• Taxable income: $6,157
• Est. tax owed @ 24.0%: −$1,478
• After-tax cash flow: $8,631/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 — 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 · 788,662 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: 276.0

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 (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: —

Market trends

• HPI YoY: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

-55.3% since first listed

14 events — show timeline

• 2026-05-30 Pending — FORTMLS
• 2026-05-29 Listed $297,500 FORTMLS
• 2025-06-13 Sold (Public Records) $290,000 Public Records
• 2025-06-13 Sold (MLS) $290,000 FORTMLS
• 2025-05-11 Pending — FORTMLS
• 2025-04-30 Price Changed $300,000 FORTMLS
• 2025-03-24 Price Changed $325,000 FORTMLS
• 2025-03-07 Listed $335,000 FORTMLS
• 2019-05-06 Sold (Public Records) $235,000 Public Records
• 2019-05-02 Sold (MLS) $235,000 FORTMLS
• 2019-04-06 Pending — FORTMLS
• 2019-04-03 Pending — FORTMLS
• 2019-04-01 Listed $238,000 FORTMLS
• 1999-12-09 Sold (Public Records) $665,400 Public Records

Property tax history

+1.9%/yr

Latest (2025): $4,214 · +2.8% YoY. Source: county tax records.