480 Las Tiendas Ln · Sanibel, FL 33957

$999,000

3 bd · 3.0 ba · 1,807 sqft · SingleFamily public records · 24 Days on market

Built 1992 0.35 ac lot Est $1156k · 14% under

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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
• ARV discount +13.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Located along the charming and quiet Las Tiendas Lane in the East End of Sanibel, this 3 bedroom plus den/ 3 bath elevated island home offers a rare opportunity to own in one of Sanibel’s most coveted locations. Surrounded by lush tropical landscaping, the property is set on a spacious lot along a quiet, shell-lined street, providing both privacy and a true sense of Old Florida charm as well as only a five-minute walk to Sanibel’s world-renowned beaches. Inside, the home features a bright and open floor plan with abundant natural light, three comfortable bedrooms, and a bright den/office providing a seamless flow that is perfect for both relaxing and entertaining. The kitchen op

Key facts

• Elevated island home
• French doors
• Bright den office

Tags

• ELEVATED ISLAND HOME
• LUSH TROPICAL LANDSCAPING
• QUIET SHELL-LINED STREET
• FIVE-MINUTE WALK TO BEACHES
• BRIGHT DEN OFFICE
• FRENCH DOORS

Property features AI

Finance

• Other: Private in-ground heated pool with electric heat and pool equipment
• Financial info: Pets allowed
• HOA & community: Association provides beach access and beach rights; Non-gated community

Exterior

• Parking: Attached garage with 2 spaces; Driveway parking; Unpaved parking areas; Garage door opener
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Single-story home; Resale property; Faces south; North exposure noted; Raised foundation with pillar/post/pier
• Construction: Metal roof; Stucco, vinyl siding and wood frame construction; Built on a raised pier/pillar foundation; Built prior to resale (existing home)
• Exterior features: Fenced yard; Automatic sprinklers (municipal irrigation); Patio and screened porch; Balcony

Interior

• Kitchen: Built-in oven and double oven; Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator with ice maker; Icemaker
• Bedrooms: Includes den and office (additional flexible rooms)
• Flooring: Carpet and tile
• Bathrooms: Three full bathrooms; Dual sinks in at least one bath; Separate shower and bathtub
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Arched, single-hung and sliding windows with window coverings; French doors and atrium-style French door(s); Partially furnished; Breakfast bar and built-in features; Bathtub and separate shower; Dual sinks; Entrance foyer; Fireplace; High ceilings; Living/dining room; Cable TV; Walk-in closets; Window treatments; Home office; Split-bedroom layout
• Laundry & utility: Washer and dryer inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $999k.

Deal economics

• At list price, monthly cash flow is $7k ($84k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $999k).
• Recommended offer: $984k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.2% 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 $7k of loan paydown is wiped out by about $30k 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 $280k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($984k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago 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 $433k; list at $999k implies a 131% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $984,015 (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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.82% ✓
• Cap rate: 15.25%
• Cash-on-cash: 31.98%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $1,156,480
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
279 Ferry Landing Dr	0.42mi	3/2.0	2,031 (+12%)	1mo	$1,300,000	$640	55

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: 24.8%
• Equity multiple: 2.02×
• Total profit: $286,238
• Equity at exit: $148,954

10-year hold

• IRR: 32.6%
• Equity multiple: 3.96×
• Total profit: $827,801
• Equity at exit: $86,375

Cash invested: $279,720 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $18,200 medium
• Mortgage (P&I): −$5,239
• Tax from tax record: −$1,269 /mo · $15,229/yr
• Insurance: −$416
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,822
• Net cashflow: $7,027

Break-even live

Break-even rent $9,305

Max offer price $999,000

Occupancy floor 56%

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 Lagoon Dr Sanibel, FL	3.0	2.0	1704	$18,200	$10.68	23d	1	0.05mi

Listing history 8 events

1. 2026-05-11
   status Pending
2. 2026-04-17
   listed $999,000 Active
3. 2018-11-28
   soldstatus $433,000
4. 2018-11-05
   historical
5. 2018-09-12
   price $749,000
6. 2018-07-09
   listed $799,000 Active
7. 2000-02-08
   soldstatus $390,000
8. 1991-02-01
   soldstatus $96,000

ⓘ 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: $15,229 · $1,269/mo
• Projected year-2 tax: $15,229 · $1,269/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 26 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: $218,400
• − Mortgage interest: −$55,960
• − Property taxes: −$15,229
• − Insurance: −$10,114
• − Repairs & maintenance: −$17,472
• − Management: −$17,472
• − Depreciation: −$29,062
• Taxable income: $73,092
• Est. tax owed @ 24.0%: −$17,542
• After-tax cash flow: $66,785/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

+940.6% since first listed

8 events — show timeline

• 2026-05-11 Pending — FORTMLS
• 2026-04-17 Listed $999,000 FORTMLS
• 2018-11-28 Sold (Public Records) $433,000 Public Records
• 2018-11-05 Listing Removed — FORTMLS
• 2018-09-12 Price Changed $749,000 FORTMLS
• 2018-07-09 Listed $799,000 FORTMLS
• 2000-02-08 Sold (Public Records) $390,000 Public Records
• 1991-02-01 Sold (Public Records) $96,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $15,229 · +6.6% YoY. Source: county tax records.