2419 NE 23rd Ave · Cape Coral, FL 33909

$260,000

3 bd · 2.0 ba · 1,206 sqft · SingleFamily public records · 92 Days on market

Built 2005 10,628 sqft lot Est $283k · 8% under

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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 +13.7/30.0
• ARV discount +11.2/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW ROOF, SPACIOUS BACKYARD & OPPORTUNITY TO PERSONALIZE! Welcome to this Northeast Cape Coral home offering 3 bedrooms, 2 baths, and approximately 1,206 square feet of living space. Inside, a functional split-bedroom floor plan, vaulted ceilings, and tile flooring throughout create a comfortable and practical layout. The kitchen opens to the dining and living areas, providing a seamless flow for everyday living and entertaining. The primary suite features a walk-in closet, while the screened front entry and rear lanai offer inviting spaces to relax and enjoy the Florida lifestyle. Recent improvements include a new roof (2023), new garage door, exterior paint, and a water well tank

Key facts

• Split-bedroom layout
• Walk-in closet
• Lanai

Tags

• NEW ROOF
• SCREENED FRONT ENTRY PORCH
• LANAI
• GENEROUSLY SIZED BACKYARD
• SPLIT-BEDROOM LAYOUT
• WALK-IN CLOSET

Property features AI

Finance

• Other: Lot is rectangular and paved, public maintained road access; Lot dimensions approximately 85 x 125 x 85 x 125; Lot exposure: East; Zoning: R1
• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 covered parking spaces
• Security: Smoke detector(s)
• Utilities: Cable available; Septic tank; Well water
• Home design: Single-story home; Resale property; Faces west; Entry level: 1
• Construction: Block, concrete, and stucco construction; Shingle roof; Built on foundation consistent with block/concrete construction
• Exterior features: Lanai; Porch; Screened porch; Room for pool; Manual shutters; Smoke detectors

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Split bedrooms (separate from main living area)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Living/dining room layout; Vaulted ceilings; Split bedroom floor plan; Walk-in closets; Separate shower; Shower-only bath configuration; Single-hung and sliding windows; Unfurnished
• Laundry & utility: Washer and dryer included; Washer/dryer hookups in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $21 ($256/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 $204k (21.4% below list).
• Recommended offer: $204k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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 falling (-5.6%/yr); 1597 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 34% of the median local income ($73k/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 $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 92 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,456 (21.4% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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: 0.79% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $283,410
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2128 NE 25th St	0.16mi	3/2.0	1,272 (+6%)	12mo	$325,000	$256	73
2017 NE 24th Ter	0.39mi	3/2.0	1,265 (+5%)	5mo	$180,000	$142	70
2010 NE 24th Ter	0.42mi	3/2.0	1,116 (-8%)	0mo	$215,000	$193	67
2127 NE 24th Ter	0.16mi	3/2.0	1,144 (-5%)	20mo	$265,000	$232	67
2038 NE 25th St	0.31mi	3/2.0	1,083 (-10%)	10mo	$255,000	$235	60
2612 NE 22nd Ave	0.25mi	3/2.0	1,362 (+13%)	9mo	$330,000	$242	59
1814 NE 23rd Ave	0.71mi	3/2.0	1,284 (+6%)	14mo	$273,000	$213	44
1804 NE 26th Ter	0.72mi	3/2.0	1,377 (+14%)	22mo	$405,000	$294	25

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.36×
• Total profit: $-46,860
• Equity at exit: $38,767

10-year hold

• IRR: -18.0%
• Equity multiple: 0.14×
• Total profit: $-62,594
• Equity at exit: $22,480

Cash invested: $72,800 (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 33909

• Home prices YoY: -23.1%
• Rents YoY: -5.6%
• Active inventory: 1597
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,045 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$122 /mo · $1,465/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $21

Break-even live

Break-even rent $2,018

Max offer price $260,000

Occupancy floor 94%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 NE 25th St Cape Coral, FL	3.0	2.0	1352	$1,891	$1.40	3d	1	0.18mi
1871 Concordia Lake Cir #301 Cape Coral, FL	3.0	2.0	1468	$1,650	$1.12	3d	1	0.69mi
571 Sunrise Ln North Fort Myers, FL	2.0	2.0	1004	$1,400	$1.39	23d	1	0.73mi
1757 Concordia Lake Cir #3405 Cape Coral, FL	2.0	2.0	1190	$1,450	$1.22	23d	1	0.74mi
1706 Kismet Pkwy E Cape Coral, FL	3.0	2.0	1408	$1,950	$1.38	14d	1	0.77mi
1788 Concordia Lake Cir Cape Coral, FL	2.0–3.0	2.0	1329	$3,800	$2.86	11d	2	0.78mi
13700 Oak St North Fort Myers, FL	1.0–3.0	1.0–2.0	1023	$2,465	$2.41	3d	32	0.97mi
2108 NE 15th Pl Cape Coral, FL	3.0	2.0	1422	$2,266	$1.59	3d	1	1.08mi
2221 NE 15th Ln Cape Coral, FL	2.0	2.0	1400	$1,675	$1.20	16d	1	1.10mi
2309 NE 15th Ln Cape Coral, FL	3.0	2.0	1250	$1,595	$1.28	3d	1	1.10mi
1409 NE 23rd St Cape Coral, FL	3.0	2.0	1147	$1,750	$1.53	3d	1	1.14mi
2213 NE 33rd St Cape Coral, FL	3.0	2.0	1385	$1,800	$1.30	23d	1	1.21mi
2112 NE 14th Ave Cape Coral, FL	3.0	2.0	1472	$1,941	$1.32	3d	1	1.24mi
2006 NE 15th Ter Cape Coral, FL	3.0	2.0	1141	$1,999	$1.75	10d	1	1.24mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,970	$2.66	3d	41	1.24mi
2122 NE 13th Pl Cape Coral, FL	3.0	2.0	1279	$1,850	$1.45	23d	1	1.28mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	1.38mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	23d	1	1.39mi
2505 Liberty Park Dr Cape Coral, FL	1.0–2.0	1.0–2.0	1092	$2,203	$2.02	3d	14	1.42mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	1.49mi

Listing history 23 events

1. 2026-06-17
   days on market $260,000 Active 92 DOM
2. 2026-06-16
   days on market $260,000 Active 91 DOM
3. 2026-06-15
   days on market $260,000 Active 90 DOM
4. 2026-06-13
   pricedays on market $260,000 Active 88 DOM
5. 2026-06-10
   days on market $265,000 Active 85 DOM
6. 2026-06-09
   days on market $265,000 Active 84 DOM
7. 2026-06-07
   remarks 695-char remark
8. 2026-06-07
   days on market $265,000 Active 82 DOM
9. 2026-06-03
   days on market $265,000 Active 78 DOM
10. 2026-06-02
    days on market $265,000 Active 77 DOM
11. 2026-06-01
    days on market $265,000 Active 76 DOM
12. 2026-06-01
    days on market $265,000 Active 75 DOM
13. 2026-03-16
    listed $265,000 Active
14. 2025-06-30
    historical
15. 2025-03-04
    price $270,000
16. 2025-01-15
    price $275,000
17. 2024-12-04
    listed $279,000 Active
18. 2024-11-25
    historical
19. 2024-10-28
    price $279,000
20. 2024-08-16
    listed $289,000 Active
21. 2005-12-21
    soldstatus $249,000
22. 2002-08-30
    soldstatus $3,000
23. 2002-08-07
    price $3,500

ⓘ 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: $1,465 · $122/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$693/yr (+$58/mo · 47.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $24,535
• − Mortgage interest: −$14,564
• − Property taxes: −$1,465
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,963
• − Management: −$1,963
• − Depreciation: −$7,564
• Taxable loss: −$4,284
• Est. tax savings @ 24.0%: +$1,028
• After-tax cash flow: $1,284/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 40,231
• Household income: $73,053
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1657.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 56% Hispanic / Latino 36% Two or more races 24% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 7% Cuban 14% Dominican 4%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 27% Other Indo-European 1% German/W. Germanic 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: ▼ -94.24%
• Current HPI: 313.8761
• Rent YoY: ▼ -5.60%
• 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

+7471.4% since first listed

11 events — show timeline

• 2026-03-16 Listed $265,000 FORTMLS
• 2025-06-30 Listing Removed — FORTMLS
• 2025-03-04 Price Changed $270,000 FORTMLS
• 2025-01-15 Price Changed $275,000 FORTMLS
• 2024-12-04 Listed $279,000 FORTMLS
• 2024-11-25 Listing Removed — FORTMLS
• 2024-10-28 Price Changed $279,000 FORTMLS
• 2024-08-16 Listed $289,000 FORTMLS
• 2005-12-21 Sold (Public Records) $249,000 Public Records
• 2002-08-30 Sold (MLS) $3,000 FORTMLS
• 2002-08-07 Price Changed $3,500 FORTMLS

Property tax history

+4.4%/yr

Latest (2025): $1,465 · +5.4% YoY. Source: county tax records.