760 Sextant Dr #733 · Sanibel, FL 33957

$479,000

2 bd · 2.0 ba · 993 sqft · Condo public records · 15 Days on market

Built 1974 Good condition $482/sqft · 41% below area Est $804k · 40% under $1397/mo HOA · 20% of rent

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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 +27.2/30.0
• ARV discount +15.0/15.0
• 1% rule +9.7/10.0
• DSCR +9.5/10.0
• Schools +6.9/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Panoramic water views. Top-floor privacy. Resort-style amenities. Gulf access. This exceptional corner 2-bedroom, 2-bath condo at highly sought-after Mariner Point offers the opportunity to enjoy the Florida waterfront lifestyle from one of the community’s most desirable locations. From the moment you step inside, breathtaking Bay and canal views take center stage. As a top-floor, corner residence, this condo combines beautiful vistas with added privacy and a peaceful setting—creating a private retreat where you can relax, entertain, and enjoy the beauty of Southwest Florida every day. For boaters, the location is hard to beat.

Key facts

• Top-floor privacy
• Two sparkling pools
• Gulf access

Tags

• TOP-FLOOR PRIVACY
• GULF ACCESS
• CORNER RESIDENCE
• BREATHTAKING BAY VIEWS
• TWO SPARKLING POOLS
• TENNIS AND PICKLEBALL COURTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $479k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $479k).
• Recommended offer: $472k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.6% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing D+, amenities F, 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.
• Zoned schools: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 582 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $7,046/mo this rent would consume 69% of the median local household income ($123k/yr) — 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 15 days — a 2% lower offer ($472k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $70k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $471,815 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
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: 1.47% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.27%
• DSCR: 1.55
• GRM: 5.7

CMA / ARV

• ARV (median comp): $803,836
• List price: $479,000
• Delta: -40.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
641 Periwinkle Way Unit B5	0.27mi	2/1.0	1,000 (+1%)	22mo	$340,000	$340	64
845 E Gulf Dr #121	0.82mi	2/2.0	983 (-1%)	2mo	$700,000	$712	62
629 Nerita St Unit A	1.26mi	2/2.0	1,079 (+9%)	1mo	$525,000	$487	50
845 E Gulf Dr #1342	0.74mi	2/2.0	983 (-1%)	21mo	$840,000	$855	46
671 E Gulf Dr Unit 1D3	0.65mi	2/2.0	875 (-12%)	5mo	$1,050,000	$1,200	46
1246 Fulgur St #306	1.45mi	2/2.0	1,100 (+11%)	4mo	$590,000	$536	43
979 E Gulf Dr Unit C303	0.99mi	2/2.0	1,184 (+19%)	0mo	$740,000	$625	40
979 E Gulf Dr #191	1.10mi	2/2.0	1,184 (+19%)	1mo	$790,000	$667	39
610 Donax St #233	1.33mi	2/2.0	1,238 (+25%)	2mo	$760,000	$614	38
805 E Gulf Dr Unit C-1	0.61mi	2/2.0	902 (-9%)	25mo	$365,000	$405	36
979 E Gulf Dr #162	1.10mi	2/2.0	1,184 (+19%)	18mo	$880,000	$743	25
979 E Gulf Dr Unit D472	1.00mi	2/2.0	1,184 (+19%)	21mo	$855,000	$722	22

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-16,499
• Equity at exit: $71,420

10-year hold

• IRR: 6.6%
• Equity multiple: 1.50×
• Total profit: $66,865
• Equity at exit: $41,415

Cash invested: $134,120 (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 →

Active competition Active MLS

• For sale now: 0 active · 5 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33957

• Home prices YoY: -15.7%
• Active inventory: 582
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $7,046 medium
• Mortgage (P&I): −$2,512
• Tax from tax record: −$86 /mo · $1,034/yr
• Insurance: −$200
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,397
• Vacancy / Maint / Mgmt: −$1,480
• Net cashflow: $945

Break-even live

Break-even rent $5,850

Max offer price $479,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,216	-5% $1,081	+0% $945	+5% $810	+10% $102
Rent	-10% $389	-5% $667	+0% $945	+5% $1,224	+10% $1,502
Rate	-1.0pp $1,187	-0.5pp $1,067	base $945	+0.5pp $821	+1.0pp $695

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: $119,750
• Closing costs: $14,370
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	119d	1	0.75mi
849 Beach Rd Sanibel, FL	2.0	2.0	800	$2,600	$3.25	10d	1	0.81mi

Property features AI

Finance

• Financial info: Pets allowed with conditions (call for details)
• HOA & community: Homeowners association with monthly feeAssociation fee covers management, cable TV, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, reserve fund, sewer, trash, and waterCommunity amenities include beach rights, beach access, boat dock, boat facilities, pickleball, pool, tennis courts, and management

Exterior

• Parking: No parking details provided
• Security: Security/high-impact doorsSmoke detector(s)
• Utilities: Public waterPublic sewerCable available
• Home design: 3 total storiesEntry level: 3Resale property
• Construction: Built with block, concrete, wood siding, and wood frameBuilt-up and flat roof
• Exterior features: Security/high-impact doorsSprinkler/irrigation system (municipal source)Tennis court(s)LanaiPorch (screened)Smoke detectorsPrivate in-ground community poolOversized lotAutomatic sprinklersWaterfront with bay front and canal accessWest exposureHas a viewFaces east

Interior

• Kitchen: DishwasherDisposalMicrowaveRangeRefrigerator
• Bedrooms: Screened porch listed as a room type
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Impact glass windowsBreakfast barCombined living/dining areaTub with showerCable TV availableHigh-speed internet availableSplit bedroom floor planFurnished
• Laundry & utility: Washer

HOA detail $1,397/mo · $16,764/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-24
   days on market $479,000 Active 15 DOM
2. 2026-09-23
   days on market $479,000 Active 14 DOM
3. 2026-09-22
   days on market $479,000 Active 13 DOM
4. 2026-09-21
   days on market $479,000 Active 12 DOM
5. 2026-09-20
   days on market $479,000 Active 11 DOM
6. 2026-09-19
   days on market $479,000 Active 10 DOM
7. 2026-09-18
   days on market $479,000 Active 9 DOM
8. 2026-09-17
   days on market $479,000 Active 8 DOM
9. 2026-09-16
   days on market $479,000 Active 7 DOM
10. 2026-09-15
    days on market $479,000 Active 6 DOM
11. 2026-09-14
    days on market $479,000 Active 5 DOM
12. 2026-09-13
    days on market $479,000 Active 4 DOM
13. 2026-09-12
    days on market $479,000 Active 3 DOM
14. 2026-09-11
    remarks 687-char remark
15. 2026-09-11
    pricedays on marketlisting id $479,000 Active 2 DOM
16. 2026-07-13
    days on market $499,900 Active 160 DOM
17. 2026-07-13
    days on market $499,900 Active 159 DOM
18. 2026-07-12
    days on market $499,900 Active 158 DOM
19. 2026-07-10
    days on market $499,900 Active 157 DOM
20. 2026-07-10
    days on market $499,900 Active 156 DOM
21. 2026-07-07
    days on market $499,900 Active 154 DOM
22. 2026-07-06
    days on market $499,900 Active 153 DOM
23. 2026-07-05
    days on market $499,900 Active 152 DOM
24. 2026-07-02
    days on market $499,900 Active 149 DOM
25. 2026-07-01
    days on market $499,900 Active 148 DOM
26. 2026-06-30
    days on market $499,900 Active 147 DOM
27. 2026-06-29
    days on market $499,900 Active 146 DOM
28. 2026-06-28
    days on market $499,900 Active 145 DOM
29. 2026-06-25
    days on market $499,900 Active 141 DOM
30. 2026-06-22
    days on market $499,900 Active 139 DOM
31. 2026-06-22
    days on market $499,900 Active 138 DOM
32. 2026-06-17
    days on market $499,900 Active 134 DOM
33. 2026-06-16
    days on market $499,900 Active 133 DOM
34. 2026-06-15
    days on market $499,900 Active 132 DOM
35. 2026-06-13
    days on market $499,900 Active 130 DOM
36. 2026-06-10
    days on market $499,900 Active 127 DOM
37. 2026-06-09
    days on market $499,900 Active 126 DOM
38. 2026-06-07
    days on market $499,900 Active 124 DOM
39. 2026-06-02
    days on market $499,900 Active 119 DOM
40. 2026-06-01
    days on market $499,900 Active 118 DOM
41. 2026-06-01
    days on market $499,900 Active 117 DOM
42. 2026-04-02
    price $499,900
43. 2026-02-03
    listed $549,000 Active
44. 2025-08-22
    historical
45. 2024-11-24
    listed $549,000 Active
46. 2024-02-05
    historical
47. 2023-12-28
    listed $599,000 Active
48. 2022-05-13
    soldstatus $665,000
49. 2022-04-28
    soldstatus $665,000 Closed
50. 2022-02-28
    status Pending

ⓘ 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: $1,034 · $86/mo
• Projected year-2 tax: $3,976 · $331/mo
• Expected delta: +$2,942/yr (+$245/mo · 284.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 25 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: $84,555
• − Mortgage interest: −$26,831
• − Property taxes: −$1,034
• − Insurance: −$7,514
• − Repairs & maintenance: −$6,764
• − Management: −$6,764
• − HOA: −$16,764
• − Depreciation: −$13,935
• Taxable income: $4,949
• Est. tax owed @ 24.0%: −$1,188
• After-tax cash flow: $10,156/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 · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $4,965–$14,895 screening

This waterfront condo is in good condition with a good condition score of 80. It has a good exterior, interior, and HVAC system. The property has a good curb appeal and is move-in ready.

Components & finishes AI

Flooring tile Counters granite Appliances stainless steel

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics, making the property more attractive to buyers and renters. ↑
• Both Updating the flooring in the bathrooms — Replacing old or worn-out flooring with modern materials can improve the overall look and feel of the property, attracting more buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary The Sanibel School A+ FL #5/2,144 Nat'l #94/41,679 High Cypress Lake High School D- FL #228/667 Nat'l #6,809/17,239

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

C Composite livability gradescore 67/100

Livability — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• County: Lee · 871,946 people
• City population: 6,402
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 6,402
• Household income: $122,730
• Rent vs Own: 8.4% rent · 91.6% own
• Severe rent burden: 3% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% French/Haitian/Cajun 1%

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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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: Pets allowed with conditions (call for details)
• HOA & community: Homeowners association with monthly feeAssociation fee covers management, cable TV, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, reserve fund, sewer, trash, and waterCommunity amenities include beach rights, beach access, boat dock, boat facilities, pickleball, pool, tennis courts, and management

Exterior

• Parking: No parking details provided
• Security: Security/high-impact doorsSmoke detector(s)
• Utilities: Public waterPublic sewerCable available
• Home design: 3 total storiesEntry level: 3Resale property
• Construction: Built with block, concrete, wood siding, and wood frameBuilt-up and flat roof
• Exterior features: Security/high-impact doorsSprinkler/irrigation system (municipal source)Tennis court(s)LanaiPorch (screened)Smoke detectorsPrivate in-ground community poolOversized lotAutomatic sprinklersWaterfront with bay front and canal accessWest exposureHas a viewFaces east

Interior

• Kitchen: DishwasherDisposalMicrowaveRangeRefrigerator
• Bedrooms: Screened porch listed as a room type
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Impact glass windowsBreakfast barCombined living/dining areaTub with showerCable TV availableHigh-speed internet availableSplit bedroom floor planFurnished
• Laundry & utility: Washer

Price history

+843.2% since first listed

36 events — show timeline

• 2026-04-02 Price Changed $499,900 FORTMLS
• 2026-02-03 Listed $549,000 FORTMLS
• 2025-08-22 Listing Removed — FORTMLS
• 2024-11-24 Listed $549,000 FORTMLS
• 2024-02-05 Listing Removed — FORTMLS
• 2023-12-28 Listed $599,000 FORTMLS
• 2022-05-13 Sold (Public Records) $665,000 Public Records
• 2022-04-28 Sold (MLS) $665,000 FORTMLS
• 2022-02-28 Pending — FORTMLS
• 2022-02-11 Listed $699,999 FORTMLS
• 2021-05-18 Sold (Public Records) $531,000 Public Records
• 2021-04-27 Sold (MLS) $531,000 FORTMLS
• 2021-02-22 Pending — FORTMLS
• 2021-02-22 Listed $525,000 FORTMLS
• 2018-02-26 Sold (Public Records) $475,000 Public Records
• 2018-02-23 Listed $499,000 FORTMLS
• 2018-02-23 Sold (MLS) $475,000 FORTMLS
• 2017-11-22 Listing Removed — FORTMLS
• 2017-04-24 Price Changed $445,000 FORTMLS
• 2017-04-24 Listed $475,000 FORTMLS
• 2017-01-30 Listing Removed — FORTMLS
• 2016-08-31 Listed $519,000 FORTMLS
• 2016-07-06 Listing Removed — FORTMLS
• 2016-05-20 Price Changed $519,000 FORTMLS
• 2016-03-03 Listed $529,000 FORTMLS
• 2013-11-11 Sold (MLS) $350,000 FORTMLS
• 2013-11-07 Sold (Public Records) $350,000 Public Records
• 2011-04-01 Sold (Public Records) $280,000 Public Records
• 2011-04-01 Sold (MLS) $280,000 FORTMLS
• 2011-03-15 Price Changed $299,000 FORTMLS
• 2010-09-15 Price Changed $269,000 FORTMLS
• 2010-09-15 Sold (MLS) $240,000 FORTMLS
• 2000-12-07 Sold (Public Records) $370,000 Public Records
• 2000-02-07 Sold (Public Records) $310,000 Public Records
• 1980-08-01 Sold (Public Records) $87,500 Public Records
• 1976-08-01 Sold (Public Records) $53,000 Public Records

Property tax history

-13.4%/yr

Latest (2025): $1,034 · -0.4% YoY. Source: county tax records.