23580 Walden Center Dr #305 · Estero, FL 34134

$260,000

2 bd · 2.0 ba · 1,127 sqft · Condo public records · 1 Days on market

Built 1999 $508/mo HOA · 20% of rent

---

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 +10.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a beautiful 2 bedroom, 2 bathroom condo. Features include Corian counter-tops, glass tile back splash and ceramic tile flooring through-out. Southern exposure boosts lot's of natural light and an open floor plan containing plenty of storage. The Tides at Pelican Landing is ideally located near shops and fine dining (Coconut Point Mall), the Hyatt Hotel Resort and within 2.2 miles from the Hertz world headquarters. World-renowned beaches of Bonita Springs are only 8.5 miles away. This is a great investment property with a tenant in place yielding a nice return. Nonetheless, this would also be a great condo for an end user.

Key facts

• Open floor plan
• Split-bedroom layout
• Fitness center

Tags

• OPEN FLOOR PLAN
• SCREENED LANAI
• SPLIT-BEDROOM LAYOUT
• GENEROUS STORAGE
• COMMUNITY POOL
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets allowed with conditions (call for details)
• HOA & community: Homeowners association with quarterly fee; Association covers irrigation water, grounds maintenance, recreation facilities, road maintenance, sewer and water; Community amenities include clubhouse, pool, basketball court, tennis courts and management; Community of approximately 640 units; Gated community

Exterior

• Parking: Paved parking
• Security: Gated community; Security gate; Fire sprinkler system
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium in a 3-story building; Entry level: 3; Faces north; Resale property
• Construction: Tile roof; Block, concrete and stucco construction
• Exterior features: Community pool; Sprinkler/irrigation system (reclaimed water); Automatic sprinklers; Rectangular lot; South exposure

Interior

• Kitchen: Cooktop; Microwave; Refrigerator
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Impact glass windows; Eat-in kitchen; Tub with shower; Split bedroom layout; Unfurnished
• Laundry & utility: Washer and dryer (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (0.9% below list).
• Recommended offer: $234k (9.9% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.4% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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 rising (+2.9%/yr); 699 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 16y 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 $130k; list at $260k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,161 (9.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.99% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.85% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.29×
• Total profit: $-51,560
• Equity at exit: $38,767

10-year hold

• IRR: -13.6%
• Equity multiple: 0.21×
• Total profit: $-57,364
• Equity at exit: $22,480

Cash invested: $72,800 (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 34134

• Rents YoY: 2.9%
• Active inventory: 699
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,575 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$201 /mo · $2,413/yr
• Insurance: −$108
• HOA: −$508
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $-146

Break-even live

Break-even rent $2,761

Max offer price $234,161

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23580 Walden Center Dr #209 Estero, FL	1.0	1.0	742	$1,550	$2.09	19d	1	0.03mi
23640 Walden Center Dr #106 Estero, FL	2.0	2.0	1052	$1,850	$1.76	2d	1	0.10mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	23d	1	0.10mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	3d	1	0.10mi
23660 Walden Center Dr Estero, FL	1.0	1.0	649	$1,522	$2.34	14d	1	0.13mi
23500 Walden Center Dr Estero, FL	1.0–2.0	1.0–2.0	803	$2,800	$3.48	16d	3	0.14mi
23680 Walden Center Dr #107 Estero, FL	2.0	2.0	1052	$1,900	$1.81	3d	1	0.16mi
23710 Walden Center Dr #308 Estero, FL	3.0	2.0	1355	$3,000	$2.21	23d	1	0.19mi
8540 Violeta St #202 Estero, FL	3.0	2.0	1440	$2,495	$1.73	23d	1	0.53mi
8010 Via Sardinia St #202 Estero, FL	2.0	2.0	1480	$2,200	$1.49	16d	1	0.53mi
8010 Via Sardinia Way #4112 Estero, FL	1.0	1.5	925	$2,200	$2.38	23d	1	0.53mi
8010 Via Sardinia Way #4208 Estero, FL	3.0	2.0	1351	$3,800	$2.81	23d	1	0.53mi
8010 Via Sardinia Way Estero, FL	1.0–2.0	1.5–2.0	1202	$2,300	$1.91	23d	2	0.53mi
8010 Via Sardinia Way #4112 Estero, FL	1.0	1.5	925	$1,995	$2.16	21d	1	0.53mi
8560 Evernia Ct #204 Estero, FL	3.0	2.0	1440	$2,100	$1.46	21d	1	0.54mi
8561 Evernia Ct #101 Estero, FL	2.0	2.0	1068	$2,000	$1.87	23d	1	0.55mi
8560 Violeta St #101 Estero, FL	2.0	3.0	1261	$2,200	$1.74	23d	1	0.55mi
8000 Via Sardinia Way #5301 Estero, FL	3.0	2.0	1351	$2,500	$1.85	3d	1	0.56mi
8000 Via Sardinia Way #5207 Estero, FL	2.0	2.0	1380	$5,500	$3.99	23d	1	0.56mi
8561 Violeta St #202 Bonita Springs, FL	3.0	2.0	1440	$2,950	$2.05	23d	1	0.56mi
8510 Violeta St #201 Estero, FL	2.0	2.0	1152	$2,400	$2.08	23d	1	0.57mi
23520 Alamanda Dr #202 Estero, FL	3.0	2.0	1452	$5,500	$3.79	23d	1	0.59mi
23520 Alamanda Dr #203 Estero, FL	2.0	2.0	1244	$2,200	$1.77	3d	1	0.59mi
23161 Fashion Dr #7109 Estero, FL	2.0	2.0	1444	$4,000	$2.77	23d	1	0.60mi
8500 Violeta St #102 Estero, FL	2.0	2.0	1468	$5,200	$3.54	2d	1	0.60mi
23159 Amgci Way #3314 Estero, FL	2.0	2.0	1226	$2,400	$1.96	23d	1	0.61mi
23550 Alamanda Dr #203 Estero, FL	2.0	2.0	1152	$5,000	$4.34	23d	1	0.61mi
23159 Amgci Way Estero, FL	1.0–2.0	1.5–2.0	1164	$4,500	$3.87	21d	2	0.61mi
8011 Via Monte Carlo Way #2213 Estero, FL	2.0	2.0	1226	$2,450	$2.00	11d	1	0.64mi
23611 Alamanda Dr #202 Estero, FL	3.0	2.0	1440	$2,900	$2.01	23d	1	0.66mi
8001 Via Monte Carlo Way Unit 103 Estero, FL	3.0	2.0	1351	$2,800	$2.07	19d	1	0.68mi
21715 Bridgegate Ct Estero, FL	3.0	2.0	1407	$2,750	$1.95	23d	1	0.91mi
23591 Sandycreek Ter #1006 Estero, FL	2.0	2.0	1209	$6,000	$4.96	23d	1	0.93mi
23526 Sandycreek Ter #304 Estero, FL	2.0	2.0	1368	$6,500	$4.75	23d	1	0.95mi
23601 Sandycreek Ter #903 Estero, FL	2.0	2.0	1246	$6,000	$4.82	23d	1	0.95mi
22201 Fountain Lakes Blvd Estero, FL	1.0–3.0	1.0–2.0	1000	$1,600	$1.60	23d	1	1.01mi
3685 Stone Way Estero, FL	2.0	2.0	1115	$1,500	$1.35	23d	1	1.04mi
24821 Lakemont Cove Ln #101 Bonita Springs, FL	2.0	2.0	1203	$6,500	$5.40	23d	1	1.07mi
4201 Sawgrass Point Dr #102 Bonita Springs, FL	2.0	2.0	1319	$5,000	$3.79	23d	1	1.10mi
3728 Stone Way Estero, FL	2.0	2.0	1275	$2,000	$1.57	23d	1	1.13mi

HOA detail condo

• Monthly dues: $508 · $6,096/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 687-char remark
2. 2026-06-17
   listed $260,000 Active 1 DOM

ⓘ 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: $2,413 · $201/mo
• Projected year-2 tax: $2,413 · $201/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,906
• − Mortgage interest: −$14,564
• − Property taxes: −$2,413
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,472
• − Management: −$2,472
• − HOA: −$6,096
• − Depreciation: −$7,564
• Taxable loss: −$5,976
• Est. tax savings @ 24.0%: +$1,434
• After-tax cash flow: $-321/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 — Estero

• Score: 79/100
• State rank: #149
• US rank: #2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estero, FL
• County: Lee County · 788,662 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 16,475
• Household income: $130,719
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 554.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Common ancestry: Slovak 5% Romanian 4% Serbian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 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: ▼ -236.48%
• Current HPI: 237.4416
• Rent YoY: ▲ 2.85%
• 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

-99.1% since first listed

17 events — show timeline

• 2026-06-17 Listed $260,000 FORTMLS
• 2024-05-31 Rental Removed $1,895 APPFOLIO
• 2024-05-10 Listed for Rent $1,895 APPFOLIO
• 2018-05-15 Sold (Public Records) $130,000 Public Records
• 2018-05-11 Sold (MLS) $130,000 NAPLESMLS
• 2018-03-30 Pending — NAPLESMLS
• 2018-03-08 Price Changed $125,900 NAPLESMLS
• 2018-02-27 Listed $159,000 NAPLESMLS
• 2013-07-25 Sold (Public Records) $95,000 Public Records
• 2013-07-22 Sold (MLS) $95,000 MARMLS
• 2012-11-26 Listed $96,000 MARMLS
• 2011-06-01 Sold (Public Records) $50,000 Public Records
• 2011-06-01 Price Changed $54,900 FORTMLS
• 2011-05-27 Sold (MLS) $50,000 NAPLESMLS
• 2011-05-27 Sold (MLS) $50,000 FORTMLS
• 2010-08-19 Listed $54,900 NAPLESMLS
• 2004-09-30 Sold (Public Records) $27,500,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,413 · -2.1% YoY. Source: county tax records.