1142 Shell Basket Ln · Sanibel, FL 33957

$595,000

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 282 Days on market

Built 1953 0.26 ac lot

---

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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• 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 MLS

Only 500' to the beach!!! Just a 2 minute walk! A very special historical Sanibel cottage that held on tight during Ian. 3 bdm. , 2 bath, screened porch, laundry room, and additional large room at back of detached garage for game, craft room or art studio. New paver walk and drive, new garage roof and concrete floor- all undamaged. 9ft of bifold doors open living room up to screened porch. Was a 5 star seasonal rental, (VRBO 2183822), which grossed $31k in the first few months of 2022. Excellent neighborhood, quiet dead end street with new homes in desirable east end with quick causeway access. Vaulted, beamed master bedroom and bath was added in 2006. Home has been remidiated. Fix up this precious home at a bargain price and have a family treasure for years to come!

Key facts

• New construction
• Modern amenities
• Beach cottage

Tags

• BEACH COTTAGE
• MODERN AMENITIES
• NEW CONSTRUCTION
• DETACHED GARAGE

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Community is non-gated; Association provides beach rights and beach access; No association fee listed

Exterior

• Parking: Detached garage (1 covered space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story; Entry level 1; Resale property; Faces east
• Construction: Block, concrete and wood siding construction; Shingle roof; Built on foundation (standard)
• Exterior features: Open patio and porch; Patio; Porch; Rectangular lot; West exposure

Interior

• Kitchen: Built-in oven; Dishwasher; Refrigerator
• Flooring: Concrete flooring; Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Partially furnished; Living/dining room; Split bedrooms; Separate shower; Shower only; Jalousie and single-hung windows

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $595k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $595k).
• Recommended offer: $524k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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; 2 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 $4k of loan paydown is wiped out by about $18k 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 $167k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($524k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $130k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $523,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 282 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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 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: 1.29% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $8,742
• Equity at exit: $88,716

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $143,859
• Equity at exit: $51,445

Cash invested: $166,600 (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: 6.5×

Monthly cashflow live

• Estimated rent: $7,673 medium
• Mortgage (P&I): −$3,120
• Tax from tax record: −$620 /mo · $7,446/yr
• Insurance: −$248
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,611
• Net cashflow: $1,646

Break-even live

Break-even rent $5,589

Max offer price $595,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,983	-5% $1,815	+0% $1,646	+5% $1,478	+10% $1,310
Rent	-10% $1,040	-5% $1,343	+0% $1,646	+5% $1,949	+10% $2,252
Rate	-1.0pp $1,946	-0.5pp $1,798	base $1,646	+0.5pp $1,492	+1.0pp $1,335

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	24d	1	0.61mi
1992 Roseate Ln Unit 414 Sanibel, FL	2.0	1.0	900	$1,400	$1.56	4d	1	1.41mi

Listing history 30 events

1. 2026-06-17
   days on market $595,000 Active 282 DOM
2. 2026-06-16
   days on market $595,000 Active 281 DOM
3. 2026-06-16
   days on market $595,000 Active 280 DOM
4. 2026-06-13
   days on market $595,000 Active 278 DOM
5. 2026-06-09
   days on market $595,000 Active 274 DOM
6. 2026-06-07
   days on market $595,000 Active 272 DOM
7. 2026-06-02
   days on market $595,000 Active 267 DOM
8. 2026-06-01
   days on market $595,000 Active 266 DOM
9. 2026-06-01
   days on market $595,000 Active 265 DOM
10. 2026-05-11
    price $595,000
11. 2026-01-16
    price $648,000
12. 2025-09-08
    listed $725,000 Active
13. 2024-01-03
    soldstatus $550,000 Sold 781-char remark

    Show marketing remark (781 chars)

    Only 500' to the beach!!! Just a 2 minute walk! A very special historical Sanibel cottage that held on tight during Ian. 3 bdm. , 2 bath, screened porch, laundry room, and additional large room at back of detached garage for game, craft room or art studio. New paver walk and drive, new garage roof and concrete floor- all undamaged. 9ft of bifold doors open living room up to screened porch. Was a 5 star seasonal rental, (VRBO 2183822), which grossed $31k in the first few months of 2022. Excellent neighborhood, quiet dead end street with new homes in desirable east end with quick causeway access. Vaulted, beamed master bedroom and bath was added in 2006. Home has been remidiated. Fix up this precious home at a bargain price and have a family treasure for years to come!

14. 2023-12-06
    soldstatus $550,000
15. 2023-03-16
    status Pending 781-char remark

    Show marketing remark (781 chars)

    Only 500' to the beach!!! Just a 2 minute walk! A very special historical Sanibel cottage that held on tight during Ian. 3 bdm. , 2 bath, screened porch, laundry room, and additional large room at back of detached garage for game, craft room or art studio. New paver walk and drive, new garage roof and concrete floor- all undamaged. 9ft of bifold doors open living room up to screened porch. Was a 5 star seasonal rental, (VRBO 2183822), which grossed $31k in the first few months of 2022. Excellent neighborhood, quiet dead end street with new homes in desirable east end with quick causeway access. Vaulted, beamed master bedroom and bath was added in 2006. Home has been remidiated. Fix up this precious home at a bargain price and have a family treasure for years to come!

16. 2023-02-10
    price $699,000 781-char remark

    Show marketing remark (781 chars)

    Only 500' to the beach!!! Just a 2 minute walk! A very special historical Sanibel cottage that held on tight during Ian. 3 bdm. , 2 bath, screened porch, laundry room, and additional large room at back of detached garage for game, craft room or art studio. New paver walk and drive, new garage roof and concrete floor- all undamaged. 9ft of bifold doors open living room up to screened porch. Was a 5 star seasonal rental, (VRBO 2183822), which grossed $31k in the first few months of 2022. Excellent neighborhood, quiet dead end street with new homes in desirable east end with quick causeway access. Vaulted, beamed master bedroom and bath was added in 2006. Home has been remidiated. Fix up this precious home at a bargain price and have a family treasure for years to come!

17. 2022-12-19
    listed $779,000 Active 781-char remark

    Show marketing remark (781 chars)

    Only 500' to the beach!!! Just a 2 minute walk! A very special historical Sanibel cottage that held on tight during Ian. 3 bdm. , 2 bath, screened porch, laundry room, and additional large room at back of detached garage for game, craft room or art studio. New paver walk and drive, new garage roof and concrete floor- all undamaged. 9ft of bifold doors open living room up to screened porch. Was a 5 star seasonal rental, (VRBO 2183822), which grossed $31k in the first few months of 2022. Excellent neighborhood, quiet dead end street with new homes in desirable east end with quick causeway access. Vaulted, beamed master bedroom and bath was added in 2006. Home has been remidiated. Fix up this precious home at a bargain price and have a family treasure for years to come!

18. 2020-12-29
    soldstatus $560,000
19. 2020-12-14
    soldstatus $560,000 Closed 863-char remark

    Show marketing remark (863 chars)

    Charming cottage so close to the beach you can hear the waves! Located on a quiet, sandy lane, this 3 bedroom, 2 bathroom property is a short stroll to the lovely beaches of Sanibel!. The living room and dining area are brightly lit by a large bowed, multi-pane window. The galley kitchen has Corian counter tops and set up for easy living. The master bedroom is spacious and has its own en-suite bath with walkin shower. The two additional bedrooms are compact and ready for guests and family members. The screened porch and two decks provide comfortable places to gather and watch the neighborhood ospreys. There is a separate storage room with the Washer and Dryer off the porch. The separate garage provides great storage for all the beach toys and bikes. This is a rare opportunity to own one of the few remaining Sanibel cottages! More Pictures coming soon!

20. 2020-11-18
    status Pending 863-char remark

    Show marketing remark (863 chars)

    Charming cottage so close to the beach you can hear the waves! Located on a quiet, sandy lane, this 3 bedroom, 2 bathroom property is a short stroll to the lovely beaches of Sanibel!. The living room and dining area are brightly lit by a large bowed, multi-pane window. The galley kitchen has Corian counter tops and set up for easy living. The master bedroom is spacious and has its own en-suite bath with walkin shower. The two additional bedrooms are compact and ready for guests and family members. The screened porch and two decks provide comfortable places to gather and watch the neighborhood ospreys. There is a separate storage room with the Washer and Dryer off the porch. The separate garage provides great storage for all the beach toys and bikes. This is a rare opportunity to own one of the few remaining Sanibel cottages! More Pictures coming soon!

21. 2020-10-20
    price $625,000 863-char remark

    Show marketing remark (863 chars)

    Charming cottage so close to the beach you can hear the waves! Located on a quiet, sandy lane, this 3 bedroom, 2 bathroom property is a short stroll to the lovely beaches of Sanibel!. The living room and dining area are brightly lit by a large bowed, multi-pane window. The galley kitchen has Corian counter tops and set up for easy living. The master bedroom is spacious and has its own en-suite bath with walkin shower. The two additional bedrooms are compact and ready for guests and family members. The screened porch and two decks provide comfortable places to gather and watch the neighborhood ospreys. There is a separate storage room with the Washer and Dryer off the porch. The separate garage provides great storage for all the beach toys and bikes. This is a rare opportunity to own one of the few remaining Sanibel cottages! More Pictures coming soon!

22. 2020-06-17
    listed $644,444 Active 863-char remark

    Show marketing remark (863 chars)

    Charming cottage so close to the beach you can hear the waves! Located on a quiet, sandy lane, this 3 bedroom, 2 bathroom property is a short stroll to the lovely beaches of Sanibel!. The living room and dining area are brightly lit by a large bowed, multi-pane window. The galley kitchen has Corian counter tops and set up for easy living. The master bedroom is spacious and has its own en-suite bath with walkin shower. The two additional bedrooms are compact and ready for guests and family members. The screened porch and two decks provide comfortable places to gather and watch the neighborhood ospreys. There is a separate storage room with the Washer and Dryer off the porch. The separate garage provides great storage for all the beach toys and bikes. This is a rare opportunity to own one of the few remaining Sanibel cottages! More Pictures coming soon!

23. 2009-09-02
    soldstatus $480,000
24. 2009-08-27
    price $585,000
25. 2009-08-27
    soldstatus $480,000
26. 2005-04-26
    soldstatus $505,000
27. 2004-03-16
    soldstatus $450,000
28. 2001-01-18
    soldstatus $275,000
29. 1985-07-01
    soldstatus $87,500
30. 1972-04-01
    soldstatus $30,000

ⓘ 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: $7,446 · $620/mo
• Projected year-2 tax: $7,446 · $620/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 ≥112°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: $92,074
• − Mortgage interest: −$33,329
• − Property taxes: −$7,446
• − Insurance: −$8,094
• − Repairs & maintenance: −$7,366
• − Management: −$7,366
• − Depreciation: −$17,309
• Taxable income: $11,164
• Est. tax owed @ 24.0%: −$2,679
• After-tax cash flow: $17,077/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

+1883.3% since first listed

21 events — show timeline

• 2026-05-11 Price Changed $595,000 FORTMLS
• 2026-01-16 Price Changed $648,000 FORTMLS
• 2025-09-08 Listed $725,000 FORTMLS
• 2024-01-03 Sold (MLS) $550,000 NAPLESMLS
• 2023-12-06 Sold (Public Records) $550,000 Public Records
• 2023-03-16 Pending — NAPLESMLS
• 2023-02-10 Price Changed $699,000 NAPLESMLS
• 2022-12-19 Listed $779,000 NAPLESMLS
• 2020-12-29 Sold (Public Records) $560,000 Public Records
• 2020-12-14 Sold (MLS) $560,000 FORTMLS
• 2020-11-18 Pending — FORTMLS
• 2020-10-20 Price Changed $625,000 FORTMLS
• 2020-06-17 Listed $644,444 FORTMLS
• 2009-09-02 Sold (Public Records) $480,000 Public Records
• 2009-08-27 Sold (MLS) $480,000 FORTMLS
• 2009-08-27 Price Changed $585,000 FORTMLS
• 2005-04-26 Sold (Public Records) $505,000 Public Records
• 2004-03-16 Sold (Public Records) $450,000 Public Records
• 2001-01-18 Sold (Public Records) $275,000 Public Records
• 1985-07-01 Sold (Public Records) $87,500 Public Records
• 1972-04-01 Sold (Public Records) $30,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $7,446 · +24.2% YoY. Source: county tax records.