20698 Marathona Ct · North Fort Myers, FL 33917

$274,900

2 bd · 2.0 ba · 1,273 sqft · Condo public records · 90 Days on market

Built 2001 $341/mo HOA · 10% of rent

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Why this score? — see what drove the C- 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 +19.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +6.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here it is. .. a much desired attached Villa in the Preserve area of Herons Glen! This lovely, MAINTENANCE FREE home features 2 bedrooms, 2 baths, a large great room with vaulted ceilings. The kitchen has an abundance of cabinets, plenty of counter space, a breakfast bar for casual dining plus an eat-in area for morning coffee. You will love the privacy of your screened lanai overlooking the preserve where you can relax or entertain family and friends. All this plus this great home is being offered TURNKEY including the golf cart! The AC and Hot Water Heater are 3 years old. Come enjoy the resort lifestyle of Herons Glen, where the residents own the facilities, amenities are numerous and daily planned activities will keep you busy as you meet your neighbors and make new friends plus GOLF is OPTIONAL! CALL TODAY for your private tour!

Key facts

• Quartz countertops
• Walk-in closet
• Hurricane shutters

Tags

• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• WALK-IN CLOSET
• LUXURY VINYL PLANK FLOORING
• FRONT AND BACK LANAIS
• HURRICANE SHUTTERS

Property features AI

Finance

• Other: Community of approximately 1,300 units
• Financial info: Maximum of 3 pets allowed (conditional; call for details)
• HOA & community: Homeowners association with quarterly fees; Association covers management, cable TV, internet, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, street lights and security; Community amenities include clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball, bocce, shuffleboard, putting greens, golf course, restaurant, billiards, hobby room, library, barbecue/picnic area, sidewalks, trails and management

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage door opener; 2 covered spaces
• Security: Gated community with guard; Security gate; Smoke detectors
• Utilities: Cable available; High speed internet available; Underground utilities; Public water (assessment paid); Public sewer (assessment paid)
• Home design: Single-story; Entry level: 1; Resale property; Faces northwest
• Construction: Block, concrete and stucco construction; Tile roof
• Exterior features: Sprinkler/irrigation; Shutters (manual); Lanai; Porch; Screened porch; Community pool; Private road frontage; Paved road; Rectangular lot on a dead-end; Sprinklers automatic; Southeast exposure; Has view

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Range; Self-cleaning oven; Refrigerator; Refrigerator with ice maker
• Bedrooms: Bedroom on main level; Main level primary
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Breakfast bar; Built-in features; Dual sinks; High ceilings; Kitchen island; Living/dining room; Multiple shower heads; Pantry; Cable TV; Window treatments; High speed internet; Split bedrooms; Furnished; Single hung and sliding windows
• Laundry & utility: Washer; Dryer; Laundry tub; Laundry in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.6% in North 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, 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: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3,261/mo this rent would consume 71% of the median local household income ($55k/yr) (locally 775% 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 $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

• It's been on market 90 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $215k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $258,405 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-27,277
• Equity at exit: $40,988

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-4,083
• Equity at exit: $23,768

Cash invested: $76,972 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,261 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$394 /mo · $4,725/yr
• Insurance: −$115
• HOA: −$341
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $286

Break-even live

Break-even rent $2,900

Max offer price $274,900

Occupancy floor 86%

Sensitivity live

Price	-10% $441	-5% $363	+0% $286	+5% $208	+10% $130
Rent	-10% $28	-5% $157	+0% $286	+5% $414	+10% $543
Rate	-1.0pp $424	-0.5pp $355	base $286	+0.5pp $214	+1.0pp $142

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	22d	1	0.19mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	16d	1	0.19mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	24d	1	0.35mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	15d	1	0.51mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	24d	1	0.52mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	16d	1	0.52mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	24d	1	0.52mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	20d	1	0.65mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	24d	1	0.75mi
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	24d	1	0.88mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	4d	1	0.92mi
20719 Kaidon Ln North Fort Myers, FL	2.0	2.0	1538	$4,000	$2.60	24d	1	1.07mi
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	24d	1	1.29mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	24d	1	1.30mi

HOA detail condo

• Monthly dues: $341 · $4,092/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-17
   days on market $274,900 Active 90 DOM
2. 2026-06-16
   days on market $274,900 Active 89 DOM
3. 2026-06-15
   days on market $274,900 Active 88 DOM
4. 2026-06-13
   days on market $274,900 Active 86 DOM
5. 2026-06-10
   days on market $274,900 Active 83 DOM
6. 2026-06-09
   days on market $274,900 Active 82 DOM
7. 2026-06-07
   days on market $274,900 Active 80 DOM
8. 2026-06-03
   days on market $274,900 Active 76 DOM
9. 2026-06-02
   days on market $274,900 Active 75 DOM
10. 2026-06-01
    days on market $274,900 Active 74 DOM
11. 2026-06-01
    days on market $274,900 Active 73 DOM
12. 2026-03-19
    listed $274,900 Active
13. 2026-01-11
    historical
14. 2025-11-26
    price $275,000
15. 2025-07-03
    listed $300,000 Active
16. 2021-04-23
    soldstatus $215,000
17. 2021-04-21
    soldstatus $215,000 Closed 849-char remark

    Show marketing remark (849 chars)

    Here it is. .. a much desired attached Villa in the Preserve area of Herons Glen! This lovely, MAINTENANCE FREE home features 2 bedrooms, 2 baths, a large great room with vaulted ceilings. The kitchen has an abundance of cabinets, plenty of counter space, a breakfast bar for casual dining plus an eat-in area for morning coffee. You will love the privacy of your screened lanai overlooking the preserve where you can relax or entertain family and friends. All this plus this great home is being offered TURNKEY including the golf cart! The AC and Hot Water Heater are 3 years old. Come enjoy the resort lifestyle of Herons Glen, where the residents own the facilities, amenities are numerous and daily planned activities will keep you busy as you meet your neighbors and make new friends plus GOLF is OPTIONAL! CALL TODAY for your private tour!

18. 2021-03-30
    status Pending 849-char remark

    Show marketing remark (849 chars)

    Here it is. .. a much desired attached Villa in the Preserve area of Herons Glen! This lovely, MAINTENANCE FREE home features 2 bedrooms, 2 baths, a large great room with vaulted ceilings. The kitchen has an abundance of cabinets, plenty of counter space, a breakfast bar for casual dining plus an eat-in area for morning coffee. You will love the privacy of your screened lanai overlooking the preserve where you can relax or entertain family and friends. All this plus this great home is being offered TURNKEY including the golf cart! The AC and Hot Water Heater are 3 years old. Come enjoy the resort lifestyle of Herons Glen, where the residents own the facilities, amenities are numerous and daily planned activities will keep you busy as you meet your neighbors and make new friends plus GOLF is OPTIONAL! CALL TODAY for your private tour!

19. 2021-03-21
    listed $215,000 Active 849-char remark

    Show marketing remark (849 chars)

    Here it is. .. a much desired attached Villa in the Preserve area of Herons Glen! This lovely, MAINTENANCE FREE home features 2 bedrooms, 2 baths, a large great room with vaulted ceilings. The kitchen has an abundance of cabinets, plenty of counter space, a breakfast bar for casual dining plus an eat-in area for morning coffee. You will love the privacy of your screened lanai overlooking the preserve where you can relax or entertain family and friends. All this plus this great home is being offered TURNKEY including the golf cart! The AC and Hot Water Heater are 3 years old. Come enjoy the resort lifestyle of Herons Glen, where the residents own the facilities, amenities are numerous and daily planned activities will keep you busy as you meet your neighbors and make new friends plus GOLF is OPTIONAL! CALL TODAY for your private tour!

20. 2005-02-18
    soldstatus $220,000

ⓘ 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: $4,725 · $394/mo
• Projected year-2 tax: $4,725 · $394/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 24 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: $39,136
• − Mortgage interest: −$15,399
• − Property taxes: −$4,725
• − Insurance: −$1,374
• − Repairs & maintenance: −$3,131
• − Management: −$3,131
• − HOA: −$4,092
• − Depreciation: −$7,997
• Taxable loss: −$713
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $3,598/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

+25.0% since first listed

9 events — show timeline

• 2026-03-19 Listed $274,900 FORTMLS
• 2026-01-11 Listing Removed — FORTMLS
• 2025-11-26 Price Changed $275,000 FORTMLS
• 2025-07-03 Listed $300,000 FORTMLS
• 2021-04-23 Sold (Public Records) $215,000 Public Records
• 2021-04-21 Sold (MLS) $215,000 FORTMLS
• 2021-03-30 Pending — FORTMLS
• 2021-03-21 Listed $215,000 FORTMLS
• 2005-02-18 Sold (Public Records) $220,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $4,725 · -4.8% YoY. Source: county tax records.