23501 Sandy Creek Ter · Estero, FL 34135

$369,900

2 bd · 2.0 ba · 1,262 sqft · Other · 36 Days on market

Built 1998 Fair condition

---

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 +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.3/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Condo, is in gated community. SpringRun Golf Club, checkout there website.

Key facts

• Gated community
• Springrun golf club
• Built 1998

Tags

• GATED COMMUNITY
• SPRINGRUN GOLF CLUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $370k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $58 ($698/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (10.5% below list).
• Recommended offer: $331k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 soft (-0.6%/yr); 835 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); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 43% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 36 days — a 3% lower offer ($359k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $330,941 (10.5% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-65,885
• Equity at exit: $55,153

10-year hold

• IRR: -18.6%
• Equity multiple: 0.13×
• Total profit: $-89,882
• Equity at exit: $31,982

Cash invested: $103,572 (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 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,309 high
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,548/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$695
• Net cashflow: $58

Break-even live

Break-even rent $3,236

Max offer price $369,900

Occupancy floor 93%

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23526 Sandycreek Ter #304 Estero, FL	2.0	2.0	1368	$6,500	$4.75	23d	1	0.07mi
23541 Sandycreek Ter #806 Estero, FL	2.0	2.0	1700	$6,000	$3.53	23d	1	0.14mi
23591 Sandycreek Ter #1006 Estero, FL	2.0	2.0	1209	$6,000	$4.96	23d	1	0.24mi
9030 Spring Run Blvd #508 Estero, FL	2.0	2.0	1333	$6,500	$4.88	23d	1	0.32mi
23601 Sandycreek Ter #903 Estero, FL	2.0	2.0	1246	$6,000	$4.82	23d	1	0.34mi
23520 Alamanda Dr #203 Estero, FL	2.0	2.0	1244	$2,200	$1.77	3d	1	0.43mi
23520 Alamanda Dr #202 Estero, FL	3.0	2.0	1452	$5,500	$3.79	23d	1	0.43mi
8561 Evernia Ct #101 Estero, FL	2.0	2.0	1068	$2,000	$1.87	23d	1	0.45mi
8561 Violeta St #202 Bonita Springs, FL	3.0	2.0	1440	$2,950	$2.05	23d	1	0.45mi
8560 Violeta St #101 Estero, FL	2.0	3.0	1261	$2,200	$1.74	23d	1	0.45mi
8560 Evernia Ct #204 Estero, FL	3.0	2.0	1440	$2,100	$1.46	21d	1	0.45mi
8500 Violeta St #102 Estero, FL	2.0	2.0	1468	$5,200	$3.54	1d	1	0.45mi
23550 Alamanda Dr #102 Estero, FL	3.0	2.5	1616	$5,200	$3.22	23d	1	0.46mi
23550 Alamanda Dr #203 Estero, FL	2.0	2.0	1152	$5,000	$4.34	23d	1	0.46mi
8510 Violeta St #201 Estero, FL	2.0	2.0	1152	$2,400	$2.08	23d	1	0.48mi
8540 Violeta St #202 Estero, FL	3.0	2.0	1440	$2,495	$1.73	23d	1	0.48mi
8000 Via Sardinia Way #5207 Estero, FL	2.0	2.0	1380	$5,500	$3.99	23d	1	0.56mi
8000 Via Sardinia Way #5301 Estero, FL	3.0	2.0	1351	$2,500	$1.85	3d	1	0.56mi
8010 Via Sardinia Way #4208 Estero, FL	3.0	2.0	1351	$3,800	$2.81	23d	1	0.59mi
8010 Via Sardinia Way Estero, FL	1.0–2.0	1.5–2.0	1202	$2,300	$1.91	23d	2	0.59mi
8010 Via Sardinia Way #4112 Estero, FL	1.0	1.5	925	$1,995	$2.16	21d	1	0.59mi
8010 Via Sardinia St #202 Estero, FL	2.0	2.0	1480	$2,200	$1.49	15d	1	0.59mi
8010 Via Sardinia Way #4112 Estero, FL	1.0	1.5	925	$2,200	$2.38	23d	1	0.59mi
23159 Amgci Way #3314 Estero, FL	2.0	2.0	1226	$2,400	$1.96	23d	1	0.59mi
8001 Via Monte Carlo Way Unit 103 Estero, FL	3.0	2.0	1351	$2,800	$2.07	19d	1	0.59mi
23611 Alamanda Dr #202 Estero, FL	3.0	2.0	1440	$2,900	$2.01	23d	1	0.59mi
23159 Amgci Way Estero, FL	1.0–2.0	1.5–2.0	1164	$4,500	$3.87	21d	2	0.59mi
8011 Via Monte Carlo Way #2213 Estero, FL	2.0	2.0	1226	$2,450	$2.00	11d	1	0.60mi
8011 Via Monte Carlo Way #2209 Estero, FL	2.0	2.5	1857	$2,800	$1.51	19d	1	0.60mi
23161 Fashion Dr #7109 Estero, FL	2.0	2.0	1444	$4,000	$2.77	23d	1	0.62mi
23785 Clear Spring Ct #2305 Estero, FL	3.0	2.0	1811	$7,500	$4.14	23d	1	0.70mi
23500 Walden Center Dr Estero, FL	1.0–2.0	1.0–2.0	803	$2,800	$3.48	15d	3	0.87mi
23710 Walden Center Dr #308 Estero, FL	3.0	2.0	1355	$3,000	$2.21	23d	1	0.88mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	23d	1	0.89mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	3d	1	0.89mi
23680 Walden Center Dr #107 Estero, FL	2.0	2.0	1052	$1,900	$1.81	3d	1	0.92mi
23640 Walden Center Dr #106 Estero, FL	2.0	2.0	1052	$1,850	$1.76	1d	1	0.92mi
23036 Lone Oak Dr Estero, FL	3.0	2.0	1524	$4,500	$2.95	23d	1	1.09mi
8641 Piazza del Lago Cir #203 Estero, FL	2.0	2.0	1732	$6,100	$3.52	15d	1	1.09mi
23007 Lone Oak Dr Estero, FL	2.0	2.0	1524	$3,950	$2.59	23d	1	1.10mi

Listing history 9 events

1. 2026-06-17
   days on market $369,900 Active 36 DOM
2. 2026-06-16
   days on market $369,900 Active 35 DOM
3. 2026-06-16
   days on market $369,900 Active 34 DOM
4. 2026-06-13
   days on market $369,900 Active 32 DOM
5. 2026-06-09
   days on market $369,900 Active 28 DOM
6. 2026-06-07
   days on market $369,900 Active 26 DOM
7. 2026-06-01
   days on market $369,900 Active 20 DOM
8. 2026-06-01
   days on market $369,900 Active 19 DOM
9. 2026-05-12
   listed $369,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 25 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: $39,713
• − Mortgage interest: −$20,720
• − Property taxes: −$5,548
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,177
• − Management: −$3,177
• − Depreciation: −$10,761
• Taxable loss: −$5,520
• Est. tax savings @ 24.0%: +$1,325
• After-tax cash flow: $2,022/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.

Condition & rehab AI · 1 photo

Fair 40/100 Cosmetic rehab

The home is in fair condition with cosmetic updates needed to enhance its resale and rental value.

Value-add opportunities

• Both Paint the interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace the light fixture in the kitchen — Modern lighting can improve the home's appeal and functionality
• Both Install new window treatments — New curtains or blinds can improve the home's curb appeal and privacy
• Both Upgrade the flooring — New flooring can significantly improve the home's appearance and value
• Both Update the kitchen backsplash — A fresh backsplash can modernize the kitchen and add value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace the light fixture in the kitchen — Modern lighting can improve the home's appeal and functionality ↑
• Both Install new window treatments — New curtains or blinds can improve the home's curb appeal and privacy ↑
• Both Upgrade the flooring — New flooring can significantly improve the home's appearance and value ↑
• Both Update the kitchen backsplash — A fresh backsplash can modernize the kitchen and add value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 48,252
• Household income: $91,380
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 976.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% French/Haitian/Cajun 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: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• 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

1 event — show timeline

• 2026-05-12 Listed $369,900 FSBO.com