10131 Colonial Country Club Blvd #1403 · Fort Myers, FL 33913

$220,000

2 bd · 2.0 ba · 1,309 sqft · Condo public records · 153 Days on market

Built 2003 $878/mo HOA · 20% of rent ↓ 5% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful new Heather model with a lake view. Located near the Garden Lakes community pool, this home has vaulted ceilings, 2 beds, 2 baths with a storage facility and carport.

Key facts

• Covered parking
• Preserve view
• Extra storage unit

Tags

• WATER VIEW
• PRESERVE VIEW
• OPEN-CONCEPT LAYOUT
• COVERED PARKING
• EXTRA STORAGE UNIT
• PRIVATE BUNDLED GOLF COMMUNITY

Property features AI

Finance

• Other: Property is part of a large complex (1,669 units) with 10 units in the building and 2 units per floor
• Financial info: Total annual recurring fees listed; Total one-time fees listed
• HOA & community: Mandatory HOA; Master HOA fee paid annually; Quarterly condo fee; Professional management; Maintenance covers cable, golf course, internet/WiFi access, irrigation water, lawn/land maintenance, exterior pest control, reserves, and street lights; Community amenities include clubhouse, community pool and spa, exercise room, golf course (golf-bundled), putting green, restaurant, basketball, bocce, pickleball, tennis, sidewalks, and underground utilities; Community is golf-course oriented

Exterior

• Parking: 1 assigned covered parking; Detached 1-car carport
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise (1-3) building; Carriage/coach style; 2-story building; Rear exposure facing southeast; Located in Colonial Country Club (Garden Lakes sub-condo)
• Construction: Concrete block construction; Built in 2003
• Exterior features: Tile roof; Single hung windows; Manual storm shutters; Stone exterior finish; Zero lot line; Private road; Creek and freshwater waterfront; Canal and preserve views; Central irrigation

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator/Freezer; Self-cleaning oven
• Bedrooms: 2 bedrooms; Split bedroom layout
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Cable prewire; Cathedral ceiling; High-speed internet available; Pantry; Smoke detectors; Breakfast bar dining area; Screened balcony; Turnkey furnished; 2 ceiling fans; 2-story floor plan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,445/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 $7k 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 153 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $91k; list at $220k implies a 142% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 2.02% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.13%
• DSCR: 1.90
• GRM: 4.1

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: -3.4%
• Equity multiple: 0.88×
• Total profit: $-7,540
• Equity at exit: $32,803

10-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $2,315
• Equity at exit: $19,022

Cash invested: $61,600 (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: 4.1×

Monthly cashflow live

• Estimated rent: $4,445 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$355 /mo · $4,258/yr
• Insurance: −$92
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$878
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $607

Break-even live

Break-even rent $3,677

Max offer price $220,000

Occupancy floor 81%

Sensitivity live

Price	-10% $731	-5% $669	+0% $607	+5% $545	+10% $482
Rent	-10% $256	-5% $431	+0% $607	+5% $782	+10% $958
Rate	-1.0pp $718	-0.5pp $663	base $607	+0.5pp $550	+1.0pp $492

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	24d	1	0.02mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	24d	1	0.05mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	24d	1	0.10mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	4d	1	0.12mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	0.15mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	24d	1	0.20mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	17d	1	0.20mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	24d	1	0.20mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	24d	1	0.21mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	0.25mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	12d	1	0.26mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	24d	1	0.28mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	17d	1	0.31mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	24d	1	0.41mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	4d	1	0.43mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	24d	1	0.50mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	24d	1	0.51mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	24d	1	0.56mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	24d	1	0.59mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	24d	1	0.72mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	24d	1	0.72mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	24d	1	0.72mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	15d	1	0.72mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	24d	1	0.72mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	24d	1	0.75mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	24d	1	0.78mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	22d	1	0.80mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	22d	1	0.84mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	17d	2	0.85mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	22d	1	0.85mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	24d	1	0.89mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	4d	1	0.89mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	0.90mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	24d	1	0.99mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	24d	1	1.01mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	24d	1	1.03mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	24d	1	1.03mi
10025 Oakhurst Way Fort Myers, FL	2.0	2.0	1504	$7,100	$4.72	24d	1	1.03mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	24d	1	1.10mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	24d	1	1.12mi

HOA detail condo

• Monthly dues: $878 · $10,536/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-17
   days on market $220,000 Active 153 DOM
2. 2026-06-16
   days on market $220,000 Active 152 DOM
3. 2026-06-15
   days on market $220,000 Active 151 DOM
4. 2026-06-13
   days on market $220,000 Active 149 DOM
5. 2026-06-10
   days on market $220,000 Active 146 DOM
6. 2026-06-09
   days on market $220,000 Active 145 DOM
7. 2026-06-07
   days on market $220,000 Active 143 DOM
8. 2026-06-02
   days on market $220,000 Active 138 DOM
9. 2026-06-01
   days on market $220,000 Active 137 DOM
10. 2026-06-01
    days on market $220,000 Active 136 DOM
11. 2026-03-24
    price $220,000
12. 2026-02-18
    price $225,000
13. 2026-02-05
    price $239,000
14. 2026-01-15
    listed $250,000 Active
15. 2015-03-02
    price $229,900 176-char remark

    Show marketing remark (176 chars)

    Beautiful new Heather model with a lake view. Located near the Garden Lakes community pool, this home has vaulted ceilings, 2 beds, 2 baths with a storage facility and carport.

16. 2012-01-20
    soldstatus $91,000 254-char remark

    Show marketing remark (254 chars)

    Fantastic opportunity to own a great condo at Colonial Country Club. This two bed two bath unit is on the second floor and boasts over 1,300 square feet of space. Relax on your screened lanai and enjoy a beautiful lake view. This home will not last long!

17. 2006-04-25
    soldstatus $231,000
18. 2006-04-18
    soldstatus $231,000 176-char remark

    Show marketing remark (176 chars)

    Beautiful new Heather model with a lake view. Located near the Garden Lakes community pool, this home has vaulted ceilings, 2 beds, 2 baths with a storage facility and carport.

ⓘ 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: $4,258 · $355/mo
• Projected year-2 tax: $4,258 · $355/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $53,341
• − Mortgage interest: −$12,323
• − Property taxes: −$4,258
• − Insurance: −$6,218
• − Repairs & maintenance: −$4,267
• − Management: −$4,267
• − HOA: −$10,536
• − Depreciation: −$6,400
• Taxable income: $5,071
• Est. tax owed @ 24.0%: −$1,217
• After-tax cash flow: $6,066/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

-4.8% since first listed

8 events — show timeline

• 2026-03-24 Price Changed $220,000 BEARMLS
• 2026-02-18 Price Changed $225,000 BEARMLS
• 2026-02-05 Price Changed $239,000 BEARMLS
• 2026-01-15 Listed $250,000 BEARMLS
• 2015-03-02 Price Changed $229,900 FORTMLS
• 2012-01-20 Sold (MLS) $91,000 FORTMLS
• 2006-04-25 Sold (Public Records) $231,000 Public Records
• 2006-04-18 Sold (MLS) $231,000 FORTMLS

Property tax history

+7.4%/yr

Latest (2025): $4,258 · -7.0% YoY. Source: county tax records.