3108 NW 20th Ave · Cape Coral, FL 33993

$299,097

4 bd · 2.0 ba · 1,824 sqft · Land · 28 Days on market

Built 2026 10,018 sqft lot

---

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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property Is Located In An Area Designated By The City Of Cape Coral To Be Re-zoned As Pf (Public Facility)

Key facts

• Owner's suite
• Attached patio
• 0.23 acre lot

Tags

• OPEN-PLAN FAMILY ROOM
• WELL-EQUIPPED KITCHEN
• ATTACHED PATIO
• OWNER'S SUITE
• CONVENIENT ADJOINING BATHROOM
• THREE SECONDARY BEDROOMS

Property features AI

Finance

• Other: Total living area approximately 1,824 (architectural plans); Lot approximately 0.23 acres (regular lot; dimensions noted)
• Financial info: Taxes listed (tax details provided)
• HOA & community: Developer-managed community; Streetlight on property; One-time fee of $1,750; No ongoing maintenance (None listed); Community type: See remarks

Exterior

• Parking: Driveway (paved); Attached 2-car garage
• Security: Impact resistant doors and windows; Smoke detector
• Utilities: Well water; Septic sewer; Electric service (central); Cable available
• Home design: Residential single-family home; 1 story / ranch; Rear exposure facing west; New construction (2026)
• Construction: Concrete block construction; Built in 2026
• Exterior features: Stucco exterior finish; Shingle roof; Impact resistant windows and doors; Single-hung and sliding windows; Landscaped area view; Paved road access; Well irrigation

Interior

• Kitchen: Island; Pantry / walk-in pantry; Dishwasher; Range; Microwave; Refrigerator/Icemaker
• Bedrooms: 4 bedrooms; First-floor bedroom; Split bedroom floor plan
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning
• Interior features: Cable prewire; Foyer; Pantry; Walk-in closet; Family room; Guest bath; Guest room; Unfurnished
• Laundry & utility: Laundry in residence; Washer; Dryer; Auto garage door; Smoke detector

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $299k.

Deal economics

• At list price, monthly cash flow is $28 ($341/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (23.6% below list).
• Recommended offer: $228k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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: Rents falling (-5.5%/yr); 2652 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 30% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 28 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,367 (23.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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?
4. 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.
5. 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.
6. 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: 0.76% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.36×
• Total profit: $-53,493
• Equity at exit: $44,596

10-year hold

• IRR: -17.4%
• Equity multiple: 0.16×
• Total profit: $-70,701
• Equity at exit: $25,860

Cash invested: $83,747 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2652
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,284 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $28

Break-even live

Break-even rent $2,248

Max offer price $299,097

Occupancy floor 94%

Sensitivity live

Price	-10% $198	-5% $113	+0% $28	+5% $-56	+10% $-141
Rent	-10% $-152	-5% $-62	+0% $28	+5% $119	+10% $209
Rate	-1.0pp $179	-0.5pp $104	base $28	+0.5pp $-49	+1.0pp $-128

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: $74,774
• Closing costs: $8,973
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1823 NW 31st St Cape Coral, FL	3.0	2.0	1408	$1,950	$1.38	4d	1	0.18mi
2838 NW 19th Pl Cape Coral, FL	4.0	2.0	1650	$1,845	$1.12	24d	1	0.24mi
2901 NW 18th Pl Cape Coral, FL	3.0	2.0	1555	$2,190	$1.41	14d	1	0.29mi
1818 NW 27th Ter Cape Coral, FL	4.0	2.0	1665	$1,975	$1.19	4d	1	0.46mi
2837 NW 24th Ave Cape Coral, FL	3.0	2.0	1286	$4,470	$3.48	24d	1	0.48mi
2824 NW 23rd Ave Cape Coral, FL	3.0	2.0	1462	$1,641	$1.12	22d	1	0.49mi
1907 NW 26th St Cape Coral, FL	3.0	2.0	1842	$2,200	$1.19	15d	1	0.54mi
2630 NW 23rd Ave Cape Coral, FL	3.0	2.0	1515	$2,299	$1.52	24d	1	0.60mi
1719 NW 25th Ln Cape Coral, FL	4.0	2.0	1829	$2,291	$1.25	4d	1	0.69mi
2423 NW 19th Pl Cape Coral, FL	4.0	2.0	1829	$1,761	$0.96	11d	1	0.80mi
2538 NW 24th Pl Cape Coral, FL	4.0	2.0	1565	$1,950	$1.25	4d	1	0.84mi
2837 NW 27th Ave Cape Coral, FL	3.0	2.0	1408	$1,691	$1.20	4d	1	0.86mi
2507 NW 25th St Cape Coral, FL	4.0	2.0	1842	$2,200	$1.19	15d	1	0.99mi
2511 NW 25th St Cape Coral, FL	4.0	2.0	1842	$2,200	$1.19	15d	1	1.00mi
2206 NW 17th Pl Cape Coral, FL	4.0	2.0	1779	$2,075	$1.17	24d	1	1.09mi
2152 NW 22nd Pl Cape Coral, FL	3.0	2.0	1418	$2,550	$1.80	12d	1	1.11mi
2124 NW 18th Ave Cape Coral, FL	3.0	2.0	1556	$2,000	$1.29	20d	1	1.21mi
2329 NW 27th Ave Cape Coral, FL	3.0	2.0	1761	$2,300	$1.31	17d	1	1.25mi
2800 NW 25th Ter Cape Coral, FL	3.0	2.0	1469	$2,000	$1.36	4d	1	1.25mi
2105 NW 22nd Ave Cape Coral, FL	4.0	2.0	1833	$2,265	$1.24	15d	1	1.26mi
2302 NW 27th Ave Cape Coral, FL	3.0	2.0	2136	$1,691	$0.79	22d	1	1.32mi
2812 NW 25th St Cape Coral, FL	4.0	2.0	1657	$1,950	$1.18	24d	1	1.32mi
2928 NW 27th St Cape Coral, FL	4.0	2.0	1853	$1,999	$1.08	24d	1	1.39mi
2928 NW 27th St Cape Coral, FL	4.0	2.0	1853	$1,999	$1.08	22d	1	1.39mi
2014 NW 16th Pl Cape Coral, FL	4.0	2.0	1712	$1,701	$0.99	15d	1	1.42mi
1431 NW 20th Ter Cape Coral, FL	3.0	2.0	2052	$1,775	$0.87	20d	1	1.45mi
1903 NW 22nd Ave Cape Coral, FL	4.0	2.0	1984	$2,200	$1.11	24d	1	1.47mi
2001 NW 25th Ave Cape Coral, FL	3.0	2.0	1887	$2,500	$1.32	24d	1	1.48mi
2227 NW 11th Ct Cape Coral, FL	4.0	2.0	1650	$1,895	$1.15	24d	1	1.50mi

Listing history 9 events

1. 2026-05-11
   status Pending
2. 2026-05-04
   price $299,097
3. 2026-04-28
   price $319,097
4. 2026-04-13
   listed $329,097 Active
5. 2025-10-09
   soldstatus $342,000
6. 2021-03-22
   soldstatus $30,450
7. 2005-04-25
   soldstatus $58,000
8. 2005-03-24
   soldstatus $58,000 106-char remark

   Show marketing remark (106 chars)

   Property Is Located In An Area Designated By The City Of Cape Coral To Be Re-zoned As Pf (Public Facility)

9. 1994-11-16
   soldstatus $11,000

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $2,483 · $207/mo
• Expected delta: +$1,492/yr (+$124/mo · 150.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 65% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 32 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: $27,404
• − Mortgage interest: −$16,754
• − Property taxes: −$991
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,192
• − Management: −$2,192
• − Depreciation: −$8,701
• Taxable loss: −$4,922
• Est. tax savings @ 24.0%: +$1,181
• After-tax cash flow: $1,522/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F 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: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+2619.1% since first listed

9 events — show timeline

• 2026-05-11 Pending — NAPLESMLS
• 2026-05-04 Price Changed $299,097 NAPLESMLS
• 2026-04-28 Price Changed $319,097 NAPLESMLS
• 2026-04-13 Listed $329,097 NAPLESMLS
• 2025-10-09 Sold (Public Records) $342,000 Public Records
• 2021-03-22 Sold (Public Records) $30,450 Public Records
• 2005-04-25 Sold (Public Records) $58,000 Public Records
• 2005-03-24 Sold (MLS) $58,000 FORTMLS
• 1994-11-16 Sold (Public Records) $11,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $991 · +13.6% YoY. Source: county tax records.