1806 Ibis Ln E · Sanibel, FL 33957

$685,000

3 bd · 2.0 ba · 1,635 sqft · SingleFamily public records · 138 Days on market

Built 1971 0.26 ac lot Est $817k · 16% under · waterfront

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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 +30.0/30.0
• ARV discount +14.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Schedule your showing today to experience the true island lifestyle at 1806 Ibis Lane! Tucked away on a quiet cul-de-sac, this waterfront 3 bedroom, 2 dens, 2 bathroom home overlooks Sanibel-Captiva Conservation land, offering a serene setting where nature and coastal living come together and the birds are always chirping. This is not staged; what you see is what you get- fully furnished! Enter into a thoughtfully designed space with a well-balanced layout. The fully appointed kitchen features top-of-the-line appliances and premium finishes. The primary bedroom is thoughtfully tucked away and features timeless finishes, generous space, and a walk-in closet. Both guest bedrooms are generousl

Key facts

• Walk-in closet
• Premium finishes
• Cul-de-sac

Tags

• CUL-DE-SAC
• FULLY FURNISHED
• FULLY APPOINTED KITCHEN
• TOP-OF-THE-LINE APPLIANCES
• PREMIUM FINISHES
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee reported

Exterior

• Parking: Attached garage with garage door opener (1 covered space)
• Security: Security/high impact doors; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story; Entry at ground level; Faces east; Resale property; Waterfront with lake view; West exposure
• Construction: Built with block, concrete and stucco; Metal roof
• Exterior features: Fence; Security/high impact doors; Sprinkler/irrigation system (municipal source); Patio; Lanai; Porch (screened); Room for pool; Storage; Smoke detector(s)

Interior

• Kitchen: Built-in oven; Double oven; Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator; Freezer; Wine cooler
• Bedrooms: Primary bedroom on main level; Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Dual sinks
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Breakfast bar; Built-in features; Breakfast area; Family/Dining room; Living/Dining room; Pantry; Shower only; Separate shower; Walk-in closet(s); Home office; Furnished; Single hung, sliding and impact glass windows
• Laundry & utility: Washer and dryer; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $685k.

Deal economics

• At list price, monthly cash flow is $10k ($121k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $685k).
• Recommended offer: $603k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.7% 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; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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 $192k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($603k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y 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 $460k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $602,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 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 1971 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 2.77% ✓
• Cap rate: 24.74%
• Cash-on-cash: 65.87%
• DSCR: 3.93
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $816,682
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1832 Farm Trl	0.46mi	2/2.0 (-1)	1,618 (-1%)	4mo	$599,000	$370	68
1258 Sand Castle Rd	1.31mi	3/2.0	1,704 (+4%)	14mo	$570,000	$335	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.2%
• Equity multiple: 3.78×
• Total profit: $532,738
• Equity at exit: $102,136

10-year hold

• IRR: 66.8%
• Equity multiple: 7.75×
• Total profit: $1,293,894
• Equity at exit: $59,226

Cash invested: $191,800 (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: 3.0×

Monthly cashflow live

• Estimated rent: $18,991 medium
• Mortgage (P&I): −$3,592
• Tax from tax record: −$597 /mo · $7,168/yr
• Insurance: −$285
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,988
• Net cashflow: $10,101

Break-even live

Break-even rent $6,204

Max offer price $685,000

Occupancy floor 42%

Sensitivity live

Price	-10% $10,489	-5% $10,295	+0% $10,101	+5% $9,907	+10% $9,713
Rent	-10% $8,601	-5% $9,351	+0% $10,101	+5% $10,851	+10% $11,601
Rate	-1.0pp $10,446	-0.5pp $10,275	base $10,101	+0.5pp $9,924	+1.0pp $9,743

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: $171,250
• Closing costs: $20,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1235 Par View Dr Sanibel, FL	2.0	2.0	1534	$3,500	$2.28	22d	1	0.70mi
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$7,115	$4.32	17d	1	0.75mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	25d	1	1.18mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	25d	1	1.20mi

Listing history 50 events

1. 2026-06-22
   days on market $685,000 Active 138 DOM
2. 2026-06-17
   days on market $685,000 Active 134 DOM
3. 2026-06-16
   days on market $685,000 Active 133 DOM
4. 2026-06-15
   days on market $685,000 Active 132 DOM
5. 2026-06-13
   days on market $685,000 Active 130 DOM
6. 2026-06-10
   days on market $685,000 Active 127 DOM
7. 2026-06-09
   days on market $685,000 Active 126 DOM
8. 2026-06-07
   days on market $685,000 Active 124 DOM
9. 2026-06-02
   days on market $685,000 Active 119 DOM
10. 2026-06-01
    days on market $685,000 Active 118 DOM
11. 2026-06-01
    days on market $685,000 Active 117 DOM
12. 2026-02-03
    listed $685,000 Active
13. 2025-09-08
    historical
14. 2025-04-28
    price $749,000
15. 2025-01-20
    price $699,000
16. 2024-11-14
    price $725,000
17. 2024-08-26
    listed $770,000 Active
18. 2024-04-30
    historical
19. 2024-03-19
    price $755,000
20. 2024-02-01
    price $799,000
21. 2024-01-10
    price $825,000
22. 2023-11-08
    price $849,000
23. 2023-10-26
    price $875,000
24. 2023-10-10
    listed $889,000 Active
25. 2023-09-08
    historical
26. 2023-07-15
    listed $895,000 Active
27. 2022-12-26
    soldstatus $460,000
28. 2018-06-26
    soldstatus $650,000
29. 2018-06-14
    soldstatus $650,000 Sold
30. 2018-02-22
    status Pending With Contingencies
31. 2018-02-15
    listed $679,000 Active
32. 2016-02-02
    price $360,000
33. 2016-02-02
    price $440,000
34. 2016-02-02
    soldstatus $360,000 Sold
35. 2016-02-02
    soldstatus $360,000
36. 2016-01-06
    status Pending With Contingencies
37. 2015-11-11
    price $440,000
38. 2015-11-03
    status Active
39. 2015-10-15
    status Pending With Contingencies
40. 2015-07-11
    price $450,000
41. 2015-07-02
    price $465,000
42. 2015-05-05
    listed $470,000 Active
43. 2015-05-01
    historical
44. 2015-04-16
    price $470,000
45. 2015-04-16
    status Active
46. 2015-04-06
    status Pending With Contingencies
47. 2015-02-07
    listed $499,000 Active
48. 2003-03-14
    soldstatus $354,000
49. 2001-03-05
    soldstatus $206,000
50. 1993-04-28
    soldstatus $177,000

ⓘ 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: $7,168 · $597/mo
• Projected year-2 tax: $7,168 · $597/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 25 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: $227,888
• − Mortgage interest: −$38,371
• − Property taxes: −$7,168
• − Insurance: −$8,544
• − Repairs & maintenance: −$18,231
• − Management: −$18,231
• − Depreciation: −$19,927
• Taxable income: $117,417
• Est. tax owed @ 24.0%: −$28,180
• After-tax cash flow: $93,034/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

+287.0% since first listed

39 events — show timeline

• 2026-02-03 Listed $685,000 FORTMLS
• 2025-09-08 Listing Removed — FORTMLS
• 2025-04-28 Price Changed $749,000 FORTMLS
• 2025-01-20 Price Changed $699,000 FORTMLS
• 2024-11-14 Price Changed $725,000 FORTMLS
• 2024-08-26 Listed $770,000 FORTMLS
• 2024-04-30 Listing Removed — FORTMLS
• 2024-03-19 Price Changed $755,000 FORTMLS
• 2024-02-01 Price Changed $799,000 FORTMLS
• 2024-01-10 Price Changed $825,000 FORTMLS
• 2023-11-08 Price Changed $849,000 FORTMLS
• 2023-10-26 Price Changed $875,000 FORTMLS
• 2023-10-10 Listed $889,000 FORTMLS
• 2023-09-08 Listing Removed — FORTMLS
• 2023-07-15 Listed $895,000 FORTMLS
• 2022-12-26 Sold (Public Records) $460,000 Public Records
• 2018-06-26 Sold (Public Records) $650,000 Public Records
• 2018-06-14 Sold (MLS) $650,000 FORTMLS
• 2018-02-22 Pending — FORTMLS
• 2018-02-15 Listed $679,000 FORTMLS
• 2016-02-02 Price Changed $360,000 FORTMLS
• 2016-02-02 Sold (Public Records) $360,000 Public Records
• 2016-02-02 Sold (MLS) $360,000 FORTMLS
• 2016-02-02 Price Changed $440,000 FORTMLS
• 2016-01-06 Pending — FORTMLS
• 2015-11-11 Price Changed $440,000 FORTMLS
• 2015-11-03 Relisted — FORTMLS
• 2015-10-15 Pending — FORTMLS
• 2015-07-11 Price Changed $450,000 FORTMLS
• 2015-07-02 Price Changed $465,000 FORTMLS
• 2015-05-05 Listed $470,000 FORTMLS
• 2015-05-01 Listing Removed — FORTMLS
• 2015-04-16 Price Changed $470,000 FORTMLS
• 2015-04-16 Relisted — FORTMLS
• 2015-04-06 Pending — FORTMLS
• 2015-02-07 Listed $499,000 FORTMLS
• 2003-03-14 Sold (Public Records) $354,000 Public Records
• 2001-03-05 Sold (Public Records) $206,000 Public Records
• 1993-04-28 Sold (Public Records) $177,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $7,168 · -24.4% YoY. Source: county tax records.