20927 Villareal Way · North Fort Myers, FL 33917

$270,000

2 bd · 2.0 ba · 1,274 sqft · SingleFamily public records · 3 Days on market

Built 2002 7,318 sqft lot Est $255k · 6% over $242/mo HOA · 8% 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 +22.0/30.0
• DSCR +7.0/10.0
• 1% rule +6.7/10.0
• ARV discount +4.8/15.0
• 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

You will love the lifestyle at Herons Glen. This Laconia floor plan was constructed in 2002. It is located on a corner lot and features mature and well-kept landscaping. The granite eat-in kitchen features a backsplash and newer appliances. The floor plan is an open concept. The living room flows in the weatherized lanai that features roll-down shutters. The entire home has roll-down shutters for Hurricane protection. The garage features built-in cabinets. The garage also has a pull-down screen. The guest bedroom has a built-in Murphy bed and work stations for two. These could be easily removed is the new owner would like a different finish to the room. The residents own all the facilities at Herons Glen. Herons Glen is a gated golf and tennis community. Golf is optional! The amenities feature an 18 hole championship golf course, tennis on 6 har tru courts, bocce ball, 4 pickleball courts, 40,000 sq. ft. clubhouse complete with a restaurant & lounge, library, hobby rooms, and a fitness area. Call Today for your personal tour!

Key facts

• Leaded glass door
• Pavered driveway
• Built-in murphy bed

Tags

• PAVERED DRIVEWAY
• LEADED GLASS DOOR
• UPDATED EAT IN KITCHEN
• WEATHERIZED LANAI
• WALK IN CLOSET
• BUILT-IN MURPHY BED

Property features AI

Finance

• Other: Lot dimensions approximately 102 x 72 x 99 x 63; Irrigation includes reclaimed water and assessment-paid irrigation; Zoning: RPD; Number of units in community: 1
• Financial info: Pets allowed conditionally (call), maximum 3 pets
• HOA & community: Homeowners association (quarterly fee); HOA covers association management, golf, insurance, irrigation water, legal/accounting, recreation facilities, reserve fund, road maintenance, street lights, security; Community amenities include clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball, bocce, shuffleboard, putting greens, golf course, restaurant, trails, sidewalks, billiards/hobby/library rooms, and management

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; 2 covered parking spaces
• Security: Gated community with guard; Security guard on site
• Utilities: Public water (assessment paid); Public sewer (assessment paid); Cable available; High-speed internet available; Underground utilities
• Home design: Single-story home; Entry level 1; Resale property; Faces northwest
• Construction: Tile roof; Block, concrete and stucco construction
• Exterior features: Sprinkler/irrigation system; Automatic sprinklers; Shutters (electric and manual); Corner lot; Paved public road access; Lot faces southeast

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Disposal; Pantry; Eat-in kitchen
• Bedrooms: Primary bedroom on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features; Entrance foyer; Eat-in kitchen; Family/dining room; Living/dining room; Cable TV available; High-speed internet available; Walk-in closet(s); Bedroom on main level; Main level primary; Bathtub; Separate shower; Dual sinks; Pantry; Single hung windows; Furnished
• Laundry & utility: Washer and dryer (inside laundry)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Cap rate 8.2% 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.
• Zoned schools: Diplomat Elementary School (math 67% / reading 60%, grade B, #564 of 2,144 statewide, top 27%, 1,069 students, 56% FRL); Mariner Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,001 students, 53% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL).
• Market conditions: Rents rising (+2.6%/yr); 846 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,164/mo this rent would consume 69% 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $182k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,000

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.17% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $254,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20919 Villareal Way	0.01mi	2/2.0	1,428 (+12%)	14mo	$286,000	$200	68
2030 Rio Nuevo Dr	0.28mi	2/2.0	1,408 (+10%)	3mo	$295,000	$210	66
1941 Palo Duro Blvd	0.31mi	3/2.0 (+1)	1,448 (+14%)	17mo	$281,000	$194	44

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-25,159
• Equity at exit: $40,258

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-545
• Equity at exit: $23,345

Cash invested: $75,600 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 846
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,164 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$297 /mo · $3,568/yr
• Insurance: −$112
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $306

Break-even live

Break-even rent $2,776

Max offer price $270,000

Occupancy floor 85%

Sensitivity live

Price	-10% $459	-5% $383	+0% $306	+5% $230	+10% $154
Rent	-10% $57	-5% $181	+0% $306	+5% $431	+10% $556
Rate	-1.0pp $442	-0.5pp $375	base $306	+0.5pp $236	+1.0pp $165

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	25d	1	0.04mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	5d	1	0.20mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	25d	1	0.20mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	16d	1	0.37mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	25d	1	0.43mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	18d	1	0.43mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	18d	1	0.74mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	23d	1	0.74mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	21d	1	0.95mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	25d	1	0.98mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	25d	1	1.03mi
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	25d	1	1.39mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	25d	1	1.46mi

HOA detail

• Monthly dues: $242 · $2,904/yr
• Likely covers: landscapingsecurity

Listing history 1 events

1. 2026-05-31
   status $270,000 Pending 3 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: $3,568 · $297/mo
• Projected year-2 tax: $3,568 · $297/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 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: $37,965
• − Mortgage interest: −$15,124
• − Property taxes: −$3,568
• − Insurance: −$2,852
• − Repairs & maintenance: −$3,037
• − Management: −$3,037
• − HOA: −$2,904
• − Depreciation: −$7,855
• Taxable loss: −$412
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $3,776/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

+22.8% since first listed

12 events — show timeline

• 2026-05-30 Pending — FORTMLS
• 2026-05-25 Listed $270,000 FORTMLS
• 2019-12-16 Sold (Public Records) $182,000 Public Records
• 2019-12-13 Sold (MLS) $182,000 FORTMLS
• 2019-11-14 Pending — FORTMLS
• 2019-10-17 Listed $189,900 FORTMLS
• 2019-08-22 Listing Removed — FORTMLS
• 2019-06-12 Price Changed $198,000 FORTMLS
• 2019-06-03 Price Changed $178,000 FORTMLS
• 2019-03-11 Listed $199,000 FORTMLS
• 2005-03-03 Sold (Public Records) $219,900 Public Records
• 2005-03-01 Sold (MLS) $219,900 FORTMLS

Property tax history

+2.5%/yr

Latest (2025): $3,568 · +3.0% YoY. Source: county tax records.