760 Sextant Dr #733 · Sanibel, FL 33957

$499,900

2 bd · 2.0 ba · 993 sqft · Condo public records · 134 Days on market

Built 1974 $1397/mo HOA · 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Owner Financing Available - Your Dream Waterfront Retreat Awaits! Stunning Bay & Canal Views from This Top-Floor, Corner 2-Bedroom, 2-Bath Condo Located in one of the most coveted spots at Mariner Point, this spacious top-floor, corner condo offers unparalleled views of the Bay and canal. If you're a boating enthusiast or simply love being close to the water, this is the perfect home for you. With direct access to the Gulf of Mexico beach just moments away, you'll enjoy the best of both worlds — a peaceful sanctuary and endless outdoor adventures. Mariner Point is a boater’s paradise, featuring low dockage fees for owners, making it an ideal to explore the San Carlos Bay a

Key facts

• Two sparkling pools
• Boater's paradise
• Bay views

Tags

• WATERFRONT RETREAT
• BAY VIEWS
• CANAL VIEWS
• DIRECT ACCESS TO BEACH
• BOATER'S PARADISE
• TWO SPARKLING POOLS

Property features AI

Finance

• Financial info: Pets allowed with conditions (call for details)
• HOA & community: Homeowners association with monthly fee; Association fee covers management, cable TV, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, reserve fund, sewer, trash, and water; Community 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 doors; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: 3 total stories; Entry level: 3; Resale property
• Construction: Built with block, concrete, wood siding, and wood frame; Built-up and flat roof
• Exterior features: Security/high-impact doors; Sprinkler/irrigation system (municipal source); Tennis court(s); Lanai; Porch (screened); Smoke detectors; Private in-ground community pool; Oversized lot; Automatic sprinklers; Waterfront with bay front and canal access; West exposure; Has a view; Faces east

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• 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 windows; Breakfast bar; Combined living/dining area; Tub with shower; Cable TV available; High-speed internet available; Split bedroom floor plan; Furnished
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $500k).
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 3.8% 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: schools A+, 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.
• Market conditions: 526 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $49k (9%) 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 $439,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.10% ✓
• Cap rate: 15.85%
• Cash-on-cash: 34.14%
• DSCR: 2.52
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.3%
• Equity multiple: 2.05×
• Total profit: $146,394
• Equity at exit: $74,537

10-year hold

• IRR: 33.1%
• Equity multiple: 4.02×
• Total profit: $422,921
• Equity at exit: $43,222

Cash invested: $139,972 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $10,500 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$86 /mo · $1,034/yr
• Insurance: −$208
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,397
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $3,555

Break-even live

Break-even rent $5,999

Max offer price $499,900

Occupancy floor 61%

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	23d	1	0.75mi

HOA detail condo

• Monthly dues: $1,397 · $16,764/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-17
   days on market $499,900 Active 134 DOM
2. 2026-06-16
   days on market $499,900 Active 133 DOM
3. 2026-06-15
   days on market $499,900 Active 132 DOM
4. 2026-06-13
   days on market $499,900 Active 130 DOM
5. 2026-06-10
   days on market $499,900 Active 127 DOM
6. 2026-06-09
   days on market $499,900 Active 126 DOM
7. 2026-06-07
   days on market $499,900 Active 124 DOM
8. 2026-06-02
   days on market $499,900 Active 119 DOM
9. 2026-06-01
   days on market $499,900 Active 118 DOM
10. 2026-06-01
    days on market $499,900 Active 117 DOM
11. 2026-04-02
    price $499,900
12. 2026-02-03
    listed $549,000 Active
13. 2025-08-22
    historical
14. 2024-11-24
    listed $549,000 Active
15. 2024-02-05
    historical
16. 2023-12-28
    listed $599,000 Active
17. 2022-05-13
    soldstatus $665,000
18. 2022-04-28
    soldstatus $665,000 Closed
19. 2022-02-28
    status Pending
20. 2022-02-11
    listed $699,999 Active
21. 2021-05-18
    soldstatus $531,000
22. 2021-04-27
    soldstatus $531,000 Closed
23. 2021-02-22
    status Pending
24. 2021-02-22
    listed $525,000 Active
25. 2018-02-26
    soldstatus $475,000
26. 2018-02-23
    soldstatus $475,000 Sold
27. 2018-02-23
    listed $499,000
28. 2017-11-22
    historical
29. 2017-04-24
    price $445,000
30. 2017-04-24
    listed $475,000 Active
31. 2017-01-30
    historical
32. 2016-08-31
    listed $519,000 Active
33. 2016-07-06
    historical
34. 2016-05-20
    price $519,000
35. 2016-03-03
    listed $529,000 Active
36. 2013-11-11
    soldstatus $350,000
37. 2013-11-07
    soldstatus $350,000
38. 2011-04-01
    soldstatus $280,000
39. 2011-04-01
    soldstatus $280,000
40. 2011-03-15
    price $299,000
41. 2010-09-15
    soldstatus $240,000
42. 2010-09-15
    price $269,000
43. 2000-12-07
    soldstatus $370,000
44. 2000-02-07
    soldstatus $310,000
45. 1980-08-01
    soldstatus $87,500
46. 1976-08-01
    soldstatus $53,000

ⓘ 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: $1,034 · $86/mo
• Projected year-2 tax: $4,149 · $346/mo
• Expected delta: +$3,115/yr (+$260/mo · 301.4%)

ⓘ 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: $126,000
• − Mortgage interest: −$28,002
• − Property taxes: −$1,034
• − Insurance: −$7,618
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$16,764
• − Depreciation: −$14,543
• Taxable income: $37,880
• Est. tax owed @ 24.0%: −$9,091
• After-tax cash flow: $33,575/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 — 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
• City population: 6,402
• Population (ZIP): 6,402

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 (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%

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

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

+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.