11751 Venetian Lagoon Dr #101 · Florida Gulf Coast University, FL 33913

$479,900

3 bd · 2.0 ba · 1,616 sqft · Condo · 99 Days on market

Built 2024 Excellent condition $679/mo HOA · 14% of rent

---

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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• DSCR +3.9/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 3 BEDROOM, 2 BATHROOM, GROUND FLOOR unit with a panoramic LAKE VIEW, located in the highly sought after community of Esplanade Lake Club. Enjoy LUXURY living in this open-layout design, including a large eat-in kitchen with breakfast nook.  Enjoy the comforts of a Newer Unit, with sweeping views of the enormous, lush lake and ample natural light.  Multiple upgrades, including crown molding, additional ceiling fans and 3rd BEDROOM with glass French doors and closet (not featured in any other unit in this community). Enjoy your favorite book or morning coffee on the front porch or spacious screened lanai.  This unit includes a detached one car garage that offers

Key facts

• Large eat-in kitchen
• Glass french doors
• Front porch

Tags

• LAKE VIEW
• OPEN-LAYOUT DESIGN
• LARGE EAT-IN KITCHEN
• CROWN MOLDING
• GLASS FRENCH DOORS
• FRONT PORCH

Property features AI

Finance

• Financial info: Pets allowed with conditions; contact for details
• HOA & community: Homeowners association with quarterly fees (approx. $1,000 quarterly); HOA covers insurance and grounds maintenance; Community amenities include clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball, boat dock, beach rights, restaurant, trails and management; Community features include boat facilities and gated access

Exterior

• Parking: Detached garage with garage door opener; Driveway, paved; 1 covered parking space
• Security: Gated community with security gate and guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Underground utilities; Municipal irrigation
• Home design: Single-story; Entry on level 1; Faces north; Resale property; Lake waterfront
• Construction: Block, concrete and stucco construction; Tile roof; Built on standard foundation
• Exterior features: Patio; Lanai; Screened porch; Porch; Zero lot line; Pond on lot; South exposure; Has view

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Disposal
• Bedrooms: Primary bedroom on the main level
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Screened porch / lanai; Breakfast area; Eat-in kitchen; Kitchen island; Pantry; Bar; Dual sinks; Shower only with separate shower; Split bedroom floorplan; French doors; Unfurnished
• Laundry & utility: Washer; Dryer; Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $480k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-27 ($-319/yr) — negative.
• To cash-flow at today's rent, offer at most $476k (0.8% below list).
• Meets the 1% rule at list price ($5k rent vs $480k).
• Recommended offer: $437k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents flat; 821 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $5,024/mo this rent would consume 55% 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 $3k of loan paydown is wiped out by about $14k 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 99 days — a 9% lower offer ($437k) is reasonable based on typical stale-listing flexibility.

Recommended offer $436,709 (9.0% 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 99 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.05% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -20.2%
• Equity multiple: 0.32×
• Total profit: $-91,919
• Equity at exit: $71,555

10-year hold

• IRR: -22.2%
• Equity multiple: 0.03×
• Total profit: $-130,650
• Equity at exit: $41,493

Cash invested: $134,372 (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: 821
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $5,024 high
• Mortgage (P&I): −$2,517
• Tax est. 1.5%: −$600 /mo · $7,198/yr
• Insurance: −$200
• HOA: −$679
• Vacancy / Maint / Mgmt: −$1,055
• Net cashflow: $-27

Break-even live

Break-even rent $5,058

Max offer price $476,052

Occupancy floor 96%

Sensitivity live

Price	-10% $305	-5% $139	+0% $-27	+5% $-192	+10% $-358
Rent	-10% $-423	-5% $-225	+0% $-27	+5% $172	+10% $370
Rate	-1.0pp $215	-0.5pp $95	base $-27	+0.5pp $-151	+1.0pp $-277

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: $119,975
• Closing costs: $14,397
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11751 Venetian Lagoon Dr Unit 104 Fort Myers, FL	2.0	2.0	1632	$3,499	$2.14	25d	1	0.03mi
11771 Venetian Lagoon Dr #103 Fort Myers, FL	2.0	2.0	1616	$6,000	$3.71	4d	1	0.04mi
11781 Venetian Lagoon Dr Unit 103 Fort Myers, FL	2.0	2.0	1616	$6,500	$4.02	25d	1	0.07mi
11801 Venetian Lagoon Dr Fort Myers, FL	2.0	2.0	1632	$2,500	$1.53	25d	1	0.11mi
11801 Venetian Lagoon Dr #203 Fort Myers, FL	2.0	2.0	1616	$3,300	$2.04	25d	1	0.11mi
11811 Venetian Lagoon Dr #202 Fort Myers, FL	2.0	2.0	1616	$6,000	$3.71	25d	1	0.14mi
11811 Venetian Lagoon Dr #102 Fort Myers, FL	2.0	2.0	1616	$5,500	$3.40	25d	1	0.14mi
11841 Venetian Lagoon Dr Fort Myers, FL	2.0	2.0	1616	$2,500	$1.55	4d	1	0.22mi
11851 Venetian Lagoon Dr #103 Fort Myers, FL	2.0	2.0	1616	$2,500	$1.55	12d	1	0.25mi
11861 Venetian Lagoon Dr Fort Myers, FL	2.0	2.0	1632	$5,500	$3.37	25d	1	0.27mi
11900 Marquina Blvd Fort Myers, FL	1.0–2.0	1.0–2.0	968	$2,475	$2.56	3d	13	0.58mi
12361 Canal Grande Dr Fort Myers, FL	2.0	2.0	1581	$7,500	$4.74	25d	1	0.60mi
17357 Corsini Dr Fort Myers, FL	2.0	2.0	1581	$7,500	$4.74	25d	1	0.64mi
17434 Caravita Ln Fort Myers, FL	2.0	2.0	1579	$7,500	$4.75	25d	1	0.68mi
11909 Sacra Pl Fort Myers, FL	2.0	2.0	1579	$7,000	$4.43	25d	1	0.76mi
11929 Sacra Pl Fort Myers, FL	2.0	2.0	1581	$8,000	$5.06	25d	1	0.78mi
10721 Mirasol Dr #301 Miromar Lakes, FL	3.0	3.0	2224	$10,000	$4.50	25d	1	1.25mi
10723 Mirasol Dr Miromar Lakes, FL	3.0	3.0–3.5	2327	$12,000	$5.16	25d	2	1.25mi
10761 Vivaldi Ct #1301 Miromar Lakes, FL	2.0	2.0	2099	$12,500	$5.96	25d	1	1.34mi
10160 Bellavista Cir #1201 Miromar Lakes, FL	3.0	2.0	1915	$12,000	$6.27	25d	1	1.35mi
10101 Gulf Center Dr Fort Myers, FL	2.0	1.0–2.0	892	$2,740	$3.07	15d	22	1.36mi
11964 Molto Dr Fort Myers, FL	3.0	3.5	2139	$10,000	$4.68	25d	1	1.46mi

HOA detail condo

• Monthly dues: $679 · $8,148/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-22
   days on market $479,900 Active 99 DOM
2. 2026-06-17
   days on market $479,900 Active 95 DOM
3. 2026-06-16
   days on market $479,900 Active 94 DOM
4. 2026-06-15
   days on market $479,900 Active 93 DOM
5. 2026-06-13
   days on market $479,900 Active 91 DOM
6. 2026-06-10
   days on market $479,900 Active 88 DOM
7. 2026-06-09
   days on market $479,900 Active 87 DOM
8. 2026-06-07
   days on market $479,900 Active 85 DOM
9. 2026-06-03
   days on market $479,900 Active 81 DOM
10. 2026-06-02
    days on market $479,900 Active 80 DOM
11. 2026-06-01
    days on market $479,900 Active 79 DOM
12. 2026-06-01
    days on market $479,900 Active 78 DOM
13. 2026-03-14
    listed $479,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $60,287
• − Mortgage interest: −$26,882
• − Property taxes: −$7,198
• − Insurance: −$2,400
• − Repairs & maintenance: −$4,823
• − Management: −$4,823
• − HOA: −$8,148
• − Depreciation: −$13,961
• Taxable loss: −$7,948
• Est. tax savings @ 24.0%: +$1,907
• After-tax cash flow: $1,588/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 · 14 photos

Excellent 95/100 None rehab

This property is in excellent condition with no visible damage or wear. It has a beautiful exterior and interior, and the landscaping is well-maintained. The home is move-in ready and would benefit from some minor updates to the exterior and interior to further enhance its value.

Value-add opportunities

• Resale Painting the exterior and interior walls — A fresh coat of paint can enhance the curb appeal and make the home look more inviting to potential buyers.
• Resale Landscaping improvements — Well-maintained landscaping can enhance the curb appeal and make the home more attractive to potential buyers.
• Resale Upgrading the kitchen appliances — Upgrading the kitchen appliances can make the home more appealing to potential buyers and increase its value.
• Resale Upgrading the flooring — Upgrading the flooring can make the home more appealing to potential buyers and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior and interior walls — A fresh coat of paint can enhance the curb appeal and make the home look more inviting to potential buyers. ↑
• Resale Landscaping improvements — Well-maintained landscaping can enhance the curb appeal and make the home more attractive to potential buyers. ↑
• Resale Upgrading the kitchen appliances — Upgrading the kitchen appliances can make the home more appealing to potential buyers and increase its value. ↑
• Resale Upgrading the flooring — Upgrading the flooring can make the home more appealing to potential buyers and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Florida Gulf Coast University

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Lee County · 788,662 people
• City population: 4,416
• 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

1 event — show timeline

• 2026-03-14 Listed $479,900 FORTMLS