1826 Sunset Pl · Fort Myers, FL 33901

$199,900

3 bd · 2.0 ba · 1,335 sqft · SingleFamily public records · 18 Days on market

Built 1976 6,490 sqft lot Est $344k · 42% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.2/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated seller—priced for a quick sale! This handyman special is a prime value-add opportunity perfect for investors, flippers, or buyers looking to build instant equity. Featuring a roof replaced in 2017, you can focus on cosmetic upgrades and maximize your ROI. Situated on regular lot with mature tree and room for outdoor living. Located in a high-demand Southwest Florida area with strong rental income and resale potential. Sold as-is.

Key facts

• 6,490 sq ft lot
• Garage
• Built 1976

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.0% in Fort Myers — 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 (-3.2%/yr); 286 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $2,048/mo this rent would consume 47% of the median local household income ($52k/yr) (locally 1782% of renters already pay >50% of income on rent) — 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 $1k of loan paydown is wiped out by about $6k 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 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; list at $200k implies a 217% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $344,430
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3018 Sunset Rd	0.06mi	3/1.5	1,334 (-0%)	10mo	$265,000	$199	86
2930 Mccann St	0.25mi	3/2.0	1,323 (-1%)	11mo	$379,590	$287	78
1735 Sunset Pl	0.11mi	3/2.0	1,383 (+4%)	19mo	$372,500	$269	73
1640 Hanson St	0.23mi	3/2.0	1,398 (+5%)	12mo	$375,000	$268	71
1541 Grace	0.44mi	3/2.0	1,290 (-3%)	9mo	$260,000	$202	66
1557 Moreno Ave	0.38mi	3/2.0	1,482 (+11%)	2mo	$316,000	$213	62
1575 Grace Ave	0.40mi	3/1.5	1,281 (-4%)	14mo	$355,400	$277	61
1446 Poinciana Ave	0.61mi	3/1.0	1,412 (+6%)	1mo	$365,000	$258	57
1844 Passaic Ave	0.31mi	3/2.0	1,494 (+12%)	16mo	$320,000	$214	52
1465 Linhart Ave	0.52mi	2/1.5 (-1)	1,453 (+9%)	4mo	$260,500	$179	51
3347 Cortez Blvd	0.48mi	3/2.5	1,504 (+13%)	15mo	$300,000	$199	42
1481 Cordova Ave	0.52mi	3/2.0	1,466 (+10%)	21mo	$534,500	$365	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.79×
• Total profit: $-11,851
• Equity at exit: $29,806

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $439
• Equity at exit: $17,284

Cash invested: $55,972 (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 33901

• Home prices YoY: -25.9%
• Rents YoY: -3.2%
• Active inventory: 286
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$69 /mo · $822/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $418

Break-even live

Break-even rent $1,519

Max offer price $199,900

Occupancy floor 75%

Sensitivity live

Price	-10% $531	-5% $475	+0% $418	+5% $361	+10% $305
Rent	-10% $256	-5% $337	+0% $418	+5% $499	+10% $580
Rate	-1.0pp $519	-0.5pp $469	base $418	+0.5pp $366	+1.0pp $314

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1661 Coronado Rd Fort Myers, FL	3.0	2.0	1144	$3,000	$2.62	24d	1	0.22mi
2922 McCann St Fort Myers, FL	3.0	2.0	1323	$2,550	$1.93	24d	1	0.30mi
1849 Maravilla Ave Fort Myers, FL	2.0	2.0	956	$1,375	$1.44	2d	2	0.37mi
1535 Ransom St Fort Myers, FL	3.0	2.0	1104	$2,400	$2.17	24d	1	0.39mi
2103 Unity Ave Fort Myers, FL	4.0	2.0	1456	$1,900	$1.30	24d	1	0.41mi
1830 Maravilla Ave Fort Myers, FL	1.0–2.0	1.0–2.0	785	$1,290	$1.64	3d	8	0.41mi
1830 Maravilla Ave Fort Myers, FL	1.0–2.0	1.0–2.0	809	$1,290	$1.59	15d	9	0.41mi
1449 Braman Ave Fort Myers, FL	2.0	1.0	1332	$3,000	$2.25	4d	1	0.50mi
1449 Braman Ave Fort Myers, FL	2.0	1.0	1339	$2,800	$2.09	24d	1	0.50mi
2920 Jackson St Fort Myers, FL	2.0	1.5	980	$1,200	$1.22	4d	1	0.58mi
2828 Jackson St Fort Myers, FL	2.0	2.0	1159	$1,438	$1.24	4d	5	0.58mi
1350 Miracle Ln Fort Myers, FL	3.0	1.5	1350	$2,800	$2.07	14d	1	0.64mi
2817 Jackson St Fort Myers, FL	3.0	2.0	1200	$2,200	$1.83	24d	1	0.65mi
2524 Congress St Unit 7 Fort Myers, FL	2.0	1.0	928	$1,400	$1.51	24d	1	0.67mi
2405 Hanson St Fort Myers, FL	2.0	1.0	882	$1,125	$1.28	2d	2	0.70mi
1442 Olmeda Way Fort Myers, FL	2.0	2.0	1311	$2,400	$1.83	4d	1	0.73mi
2822 Central Ave Fort Myers, FL	3.0	2.0	1641	$1,100	$0.67	24d	1	0.73mi
2710 McGregor Blvd Fort Myers, FL	2.0	2.0	1680	$4,500	$2.68	2d	1	0.74mi
2148 Dora St Unit 12 Fort Myers, FL	2.0	1.0	912	$1,350	$1.48	24d	1	0.74mi
1927 Hill Ave Unit 8 Fort Myers, FL	2.0	2.0	880	$1,150	$1.31	24d	1	0.76mi
2408 Euclid Ave Fort Myers, FL	3.0	2.0	1347	$3,975	$2.95	24d	1	0.80mi
33 Broadway Cir Fort Myers, FL	3.0	2.0	1122	$1,800	$1.60	17d	1	0.84mi
2121 Collier Ave Fort Myers, FL	2.0	2.0	958	$1,375	$1.44	12d	4	0.91mi
2121 Collier Ave Fort Myers, FL	2.0	2.0	958	$1,448	$1.51	4d	3	0.91mi
3736 Luzon St Fort Myers, FL	3.0	2.0	1372	$1,801	$1.31	4d	1	0.94mi
3704 Broadway #101 Fort Myers, FL	2.0	1.0	910	$1,100	$1.21	24d	1	0.96mi
3706 Broadway Unit A29 Fort Myers, FL	2.0	2.0	949	$1,250	$1.32	24d	1	0.98mi
3706 Broadway #30 Fort Myers, FL	2.0	2.0	962	$1,100	$1.14	24d	1	0.98mi
3706 Broadway #29 Fort Myers, FL	2.0	2.0	949	$1,150	$1.21	4d	1	0.98mi
3585 Central Ave Fort Myers, FL	1.0–2.0	1.0–2.0	1000	$1,450	$1.45	24d	1	0.99mi
2135 Virginia Ave #11 Fort Myers, FL	2.0	1.5	924	$1,500	$1.62	24d	1	1.00mi
2525 Royal Palm Ave Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	24d	1	1.02mi
2243 Euclid Ave Fort Myers, FL	2.0	1.0	1000	$1,500	$1.50	24d	1	1.02mi
3835 Lake St Fort Myers, FL	3.0	1.0	976	$1,350	$1.38	12d	1	1.03mi
3835 Arlington St Fort Myers, FL	2.0	1.0	1062	$1,850	$1.74	24d	1	1.07mi
1905 Winkler Ave Unit 7 Fort Myers, FL	2.0	1.0	1000	$1,400	$1.40	24d	1	1.11mi
2250 McGregor Blvd Fort Myers, FL	2.0	1.0–2.0	927	$2,145	$2.31	2d	18	1.11mi
2350 W First St Fort Myers, FL	1.0–4.0	1.0–2.0	1344	$1,490	$1.11	22d	2	1.12mi
3726 Central Ave Fort Myers, FL	1.0–2.0	1.0–2.0	907	$1,700	$1.87	24d	1	1.13mi
2330 Hoople St Fort Myers, FL	3.0	2.0	1250	$1,750	$1.40	17d	1	1.18mi

Listing history 13 events

1. 2026-06-13
   statusdays on market $199,900 Pending 18 DOM
2. 2026-06-10
   days on market $199,900 Active 17 DOM
3. 2026-06-09
   days on market $199,900 Active 16 DOM
4. 2026-06-08
   days on market $199,900 Active 15 DOM
5. 2026-06-07
   days on market $199,900 Active 14 DOM
6. 2026-06-03
   days on market $199,900 Active 10 DOM
7. 2026-06-02
   days on market $199,900 Active 9 DOM
8. 2026-06-01
   days on market $199,900 Active 8 DOM
9. 2026-05-31
   statusdays on market $199,900 Active 7 DOM
10. 2026-04-23
    price $199,900
11. 2026-04-13
    status Pending
12. 2026-04-07
    listed $199,000 Active
13. 1994-11-01
    soldstatus $63,100

ⓘ 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: $822 · $69/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$837/yr (+$70/mo · 101.8%)

ⓘ 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) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $24,579
• − Mortgage interest: −$11,198
• − Property taxes: −$822
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$5,815
• Taxable income: $1,812
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $4,581/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ 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: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 24,481
• Household income: $51,816
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1782.0

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 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 23% Black 22% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4% Cuban 4%
• Common ancestry: Hispanic 7% Estonian 2% Lithuanian 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 18% French/Haitian/Cajun 8% Other Indo-European 4%

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: ▼ -108.70%
• Current HPI: 311.8283
• Rent YoY: ▼ -3.23%
• 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

+216.8% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $199,900 NAPLESMLS
• 2026-04-13 Pending — NAPLESMLS
• 2026-04-07 Listed $199,000 NAPLESMLS
• 1994-11-01 Sold (Public Records) $63,100 Public Records

Property tax history

+1.0%/yr

Latest (2025): $822 · -0.3% YoY. Source: county tax records.