8701 Banyan Bay Blvd · Harlem Heights, FL 33908

$449,000

3 bd · 2.0 ba · 1,836 sqft · SingleFamily public records · 15 Days on market

Built 2008 6,838 sqft lot Est $676k · 34% under $267/mo HOA · 5% of rent ↓ 59% since listing

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Why this score? — see what drove the B- 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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.1/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Beautiful Gated 3/2 w/ den, pool home in a Great location! Just minutes to Beaches, Shopping, Library, Restaurants and much more. This home has Many Customized features. Tile Roof, Gorgeous True Wood Floors, 18 Tile floors, Ceiling Fans, Tray Ceilings to mention a few. A Upgraded kitchen w/ custom made Cabinets, Corian Counter Tops. Tiled Backsplash, Stainless Steel Appliances. Tons of Storage & Huge Breakfast Bar. A Open Floor Plan to the living room with its custom made Fireplace, for those cooler nights. A large size dining room to enjoy family gatherings. A nice den or office offers custom Granite built-ins. A Beautiful & Unique Handcrafted Wood door. Two guest rooms separated from the master, providing privacy for all. The elegant Master Bedroom is one of a kind. Gorgeous wood floors, Handcrafted wall. Walk in closet. Master Bath has Dbl sinks, Seamless Large glass shower w/ slate tile. The pool area is welcoming and spacious for lounging & Entertaining. Come see your new home today

Key facts

• No rear neighbors
• Remodeled kitchen
• Screened lanai

Tags

• REMODELED KITCHEN
• PRIVATE OASIS
• SCREENED LANAI
• NO REAR NEIGHBORS
• GATED COMMUNITIES

Property features AI

Finance

• Other: Private in-ground pool
• Financial info: Pets allowed (call/conditional)
• HOA & community: Homeowners association with management; Quarterly HOA fee (listed); Community pool; Gated community; Approximately 200 units in community

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking
• Security: Gated community access; Security gate; Smoke detectors
• Utilities: Cable available; Sewer assessment paid; Water assessment paid; Municipal irrigation
• Home design: Single-story home; Entry level: 1; Faces northeast; Resale property
• Construction: Built with block, concrete and stone; Tile roof
• Exterior features: Lanai; Porch; Screened porch; Security/high impact doors; Security gate; Gated community; Smoke detector(s)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Freezer
• Bedrooms: Split bedroom floorplan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Partially furnished; Built-in features; Separate/formal dining room; Pantry; Shower only (separate shower); Walk-in closet(s); Split bedrooms; Casement windows; Impact glass
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $442k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.8% in Harlem Heights — 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 75/100 on livability (#263 in FL, #4,209 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, employment 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.
• 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 soft (-1.2%/yr); 1251 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• At $4,990/mo this rent would consume 79% of the median local household income ($75k/yr) (locally 1944% 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 $13k 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 15 days — a 2% lower offer ($442k) is reasonable based on typical stale-listing flexibility.
• 3 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 $292k; list at $449k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $442,265 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $675,648
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16436 Willowcrest Way	0.43mi	3/2.0	1,853 (+1%)	6mo	$769,900	$415	74
16404 Willowcrest Way	0.48mi	3/2.0	1,781 (-3%)	11mo	$470,000	$264	63
16499 Edgemont Dr	0.47mi	2/2.0 (-1)	1,949 (+6%)	3mo	$740,000	$380	60
16320 Willowcrest Way	0.67mi	3/2.0	1,763 (-4%)	10mo	$635,000	$360	54
16384 Willowcrest Way	0.53mi	2/2.0 (-1)	1,763 (-4%)	15mo	$757,500	$430	51
16445 Edgemont Dr	0.54mi	3/2.0	2,003 (+9%)	16mo	$737,000	$368	46
16440 Willowcrest Way	0.42mi	3/2.0	2,066 (+12%)	23mo	$730,000	$353	40
16488 Crown Arbor Way	0.65mi	2/2.0 (-1)	2,000 (+9%)	18mo	$559,000	$280	35

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: -13.3%
• Equity multiple: 0.54×
• Total profit: $-58,320
• Equity at exit: $66,947

10-year hold

• IRR: -10.7%
• Equity multiple: 0.45×
• Total profit: $-69,005
• Equity at exit: $38,821

Cash invested: $125,720 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1251
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $4,990 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$255 /mo · $3,063/yr
• Insurance: −$187
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$267
• Vacancy / Maint / Mgmt: −$1,048
• Net cashflow: $451

Break-even live

Break-even rent $4,418

Max offer price $449,000

Occupancy floor 86%

Sensitivity live

Price	-10% $706	-5% $578	+0% $451	+5% $324	+10% $197
Rent	-10% $57	-5% $254	+0% $451	+5% $648	+10% $846
Rate	-1.0pp $677	-0.5pp $566	base $451	+0.5pp $335	+1.0pp $217

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1498	$6,300	$4.21	17d	1	0.24mi
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1247	$6,300	$5.05	16d	1	0.24mi
17020 Willowcrest Way Fort Myers, FL	2.0–3.0	2.0	1344	$6,300	$4.69	17d	2	0.48mi
9190 Southmont Cv #309 Fort Myers, FL	3.0	2.0	1331	$6,500	$4.88	3d	1	0.51mi
9170 Southmont Cv Fort Myers, FL	2.0–3.0	2.0	1358	$6,300	$4.64	16d	1	0.63mi
9140 Southmont Cv #102 Fort Myers, FL	3.0	2.0	1331	$2,500	$1.88	16d	1	0.65mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1282	$2,400	$1.87	25d	1	0.66mi
9240 Willowcrest Ct Fort Myers, FL	2.0	2.0	1752	$8,500	$4.85	16d	1	0.66mi
16320 Willowcrest Way Fort Myers, FL	2.0	2.0	1751	$8,700	$4.97	16d	1	0.68mi
9201 Bayberry Bnd #103 Fort Myers, FL	2.0	2.0	1724	$3,500	$2.03	25d	1	0.73mi
16491 Millstone Cir #207 Fort Myers, FL	2.0	2.0	1348	$2,000	$1.48	16d	1	0.77mi
9240 Bayberry Bnd #103 Fort Myers, FL	3.0	2.0	1584	$6,600	$4.17	25d	1	0.77mi
9250 Bayberry Bnd #202 Fort Myers, FL	2.0	2.0	1669	$4,950	$2.97	16d	1	0.80mi
9241 Bayberry Bnd #103 Fort Myers, FL	3.0	2.0	1584	$4,725	$2.98	16d	1	0.80mi
16481 Millstone Cir #207 Fort Myers, FL	3.0	2.0	1348	$2,700	$2.00	25d	1	0.80mi
8549 S Lake Cir Fort Myers, FL	3.0	2.0	2091	$3,500	$1.67	25d	1	1.11mi
11848 Bayport Ln #2002 Fort Myers, FL	3.0	2.0	1661	$2,200	$1.32	25d	1	1.31mi
8986 Greenwich Hills Way #201 Fort Myers, FL	2.0	2.0	2040	$5,200	$2.55	25d	1	1.42mi

HOA detail

• Monthly dues: $267 · $3,204/yr
• Likely covers: poolsecurity

Listing history 25 events

1. 2026-06-22
   days on market $449,000 Active 15 DOM
2. 2026-06-18
   days on market $449,000 Active 12 DOM
3. 2026-06-17
   days on market $449,000 Active 11 DOM
4. 2026-06-16
   days on market $449,000 Active 10 DOM
5. 2026-06-15
   days on market $449,000 Active 9 DOM
6. 2026-06-13
   days on market $449,000 Active 7 DOM
7. 2026-06-10
   days on market $449,000 Active 4 DOM
8. 2026-06-09
   days on market $449,000 Active 3 DOM
9. 2026-06-08
   days on market $449,000 Active 2 DOM
10. 2026-06-07
    remarks 687-char remark
11. 2026-06-07
    days on marketlisting id $449,000 Active 1 DOM
12. 2026-06-02
    days on market $449,000 Active 99 DOM
13. 2026-06-01
    days on market $449,000 Active 98 DOM
14. 2026-06-01
    days on market $449,000 Active 97 DOM
15. 2026-04-28
    price $449,000
16. 2026-02-23
    listed $465,000 Active
17. 2026-01-22
    historical
18. 2025-10-02
    status Active
19. 2025-10-02
    price $479,000
20. 2025-09-10
    historical
21. 2025-01-27
    listed $500,000 Active
22. 2014-01-06
    soldstatus $292,000
23. 2013-12-23
    soldstatus $294,000 1022-char remark

    Show marketing remark (1022 chars)

    A Beautiful Gated 3/2 w/ den, pool home in a Great location! Just minutes to Beaches, Shopping, Library, Restaurants and much more. This home has Many Customized features. Tile Roof, Gorgeous True Wood Floors, 18 Tile floors, Ceiling Fans, Tray Ceilings to mention a few. A Upgraded kitchen w/ custom made Cabinets, Corian Counter Tops. Tiled Backsplash, Stainless Steel Appliances. Tons of Storage & Huge Breakfast Bar. A Open Floor Plan to the living room with its custom made Fireplace, for those cooler nights. A large size dining room to enjoy family gatherings. A nice den or office offers custom Granite built-ins. A Beautiful & Unique Handcrafted Wood door. Two guest rooms separated from the master, providing privacy for all. The elegant Master Bedroom is one of a kind. Gorgeous wood floors, Handcrafted wall. Walk in closet. Master Bath has Dbl sinks, Seamless Large glass shower w/ slate tile. The pool area is welcoming and spacious for lounging & Entertaining. Come see your new home today

24. 2013-11-24
    price $297,500 1022-char remark

    Show marketing remark (1022 chars)

    A Beautiful Gated 3/2 w/ den, pool home in a Great location! Just minutes to Beaches, Shopping, Library, Restaurants and much more. This home has Many Customized features. Tile Roof, Gorgeous True Wood Floors, 18 Tile floors, Ceiling Fans, Tray Ceilings to mention a few. A Upgraded kitchen w/ custom made Cabinets, Corian Counter Tops. Tiled Backsplash, Stainless Steel Appliances. Tons of Storage & Huge Breakfast Bar. A Open Floor Plan to the living room with its custom made Fireplace, for those cooler nights. A large size dining room to enjoy family gatherings. A nice den or office offers custom Granite built-ins. A Beautiful & Unique Handcrafted Wood door. Two guest rooms separated from the master, providing privacy for all. The elegant Master Bedroom is one of a kind. Gorgeous wood floors, Handcrafted wall. Walk in closet. Master Bath has Dbl sinks, Seamless Large glass shower w/ slate tile. The pool area is welcoming and spacious for lounging & Entertaining. Come see your new home today

25. 2006-08-10
    soldstatus $1,087,000

ⓘ 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: $3,063 · $255/mo
• Projected year-2 tax: $3,727 · $311/mo
• Expected delta: +$664/yr (+$55/mo · 21.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $59,875
• − Mortgage interest: −$25,151
• − Property taxes: −$3,063
• − Insurance: −$7,364
• − Repairs & maintenance: −$4,790
• − Management: −$4,790
• − HOA: −$3,204
• − Depreciation: −$13,062
• Taxable loss: −$1,548
• Est. tax savings @ 24.0%: +$371
• After-tax cash flow: $5,788/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 — Harlem Heights

• Score: 75/100
• State rank: #263
• US rank: #4209

Category grades

Amenities F Commute B Cost of living A+ Crime A+ Employment F Housing A Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

-58.7% since first listed

11 events — show timeline

• 2026-04-28 Price Changed $449,000 FORTMLS
• 2026-02-23 Listed $465,000 FORTMLS
• 2026-01-22 Listing Removed — FORTMLS
• 2025-10-02 Relisted — FORTMLS
• 2025-10-02 Price Changed $479,000 FORTMLS
• 2025-09-10 Listing Removed — FORTMLS
• 2025-01-27 Listed $500,000 FORTMLS
• 2014-01-06 Sold (Public Records) $292,000 Public Records
• 2013-12-23 Sold (MLS) $294,000 FORTMLS
• 2013-11-24 Price Changed $297,500 FORTMLS
• 2006-08-10 Sold (Public Records) $1,087,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $3,063 · +4.3% YoY. Source: county tax records.