20210 Calice Ct #201 · Estero, FL 33928

$415,000

3 bd · 2.0 ba · 1,569 sqft · Condo public records · 17 Days on market

Built 2001 $470/mo HOA · 8% of rent

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Golf & Lakefront Living at Its Finest Welcome to effortless Florida living in this beautifully maintained 3-bedroom, 2-bath ground-floor townhome, perfectly positioned to capture both sweeping golf course and tranquil lake views. In the desirable Grandezza community, this inviting residence offers a light-filled open layout designed for comfort, relaxation, and entertaining. The kitchen features ample cabinetry, and generous workspace, flowing seamlessly into the spacious living and dining areas. Large windows and sliding glass doors frame picturesque views of the fairways and sparkling lake, creating a peaceful backdrop for everyday living. The private primary bedroom offers privacy, his and her's closets, while two additional bedrooms provide flexibility for guests, a home office, or seasonal visitors. This townhome features a two car garage and community pool right outside your door. Step outside to your screened lanai and enjoy morning coffee, breathtaking sunsets, and the serene beauty of the surrounding golf community. Whether you're seeking a full-time residence, seasonal escape, or investment opportunity, this exceptional townhome delivers the perfect combination of location, lifestyle, and value. Enjoy resort-style amenities, lush landscaping, and the convenience of ground-floor living--all within a sought-after golf course community that offers options for several types of membership. You can stay social, or go all out for all the sports the community has to offer. If you choose a golf membership, you will have reciprocal options at over 30 other golf communities nationwide to play golf, tennis, swim and dine. The community clubhouse, pool, restaurant, and golf course are just across the street offering convenience to all the communities activities. Move right in and start enjoying the views, the lifestyle, and everything this exceptional home has to offer!!

Key facts

• Lake views
• Community pool
• Screened lanai

Tags

• GOLF COURSE VIEWS
• LAKE VIEWS
• SCREENED LANAI
• COMMUNITY POOL
• GROUND-FLOOR LIVING
• RESORT-STYLE AMENITIES

Property features AI

Finance

• Financial info: Pets allowed with conditions (call for details)
• HOA & community: Homeowners association (annual fee); Quarterly additional association fee; Association covers management, cable TV, golf, insurance, internet, irrigation water, grounds maintenance, reserve fund, road maintenance, sewer, street lights, security, trash and water; Community amenities include golf, gated access, tennis courts, clubhouse, fitness center, pool, spa/hot tub, putting greens, bocce court, basketball court, restaurant, barbecue/picnic areas, vehicle wash area, private membership and on-site management; 60 units in the community

Exterior

• Parking: Attached garage; 2 covered garage spaces; Guest parking; Paved parking with garage door opener
• Security: Smoke detectors
• Utilities: Cable available; High-speed internet available; Sewer assessment paid; Water assessment paid
• Home design: One-story; Entry level: 1; Resale property; Faces east
• Construction: Tile roof; Block, concrete and stucco construction
• Exterior features: Lanai; Screened porch; Porch; Shutters (electric); Community pool; Zero lot line; Paved road; West exposure; Has view

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Disposal
• Bedrooms: Guest quarters
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Double-hung windows; Partially furnished; Breakfast bar and breakfast area; Dual sinks; Separate shower (shower only); High-speed internet; Split bedroom layout
• Laundry & utility: Washer; Dryer (inside laundry)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $415k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $415k).
• Recommended offer: $409k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 (-1.4%/yr); 668 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).
• At $5,801/mo this rent would consume 68% of the median local household income ($103k/yr) (locally 606% 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 $3k of loan paydown is wiped out by about $12k 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 17 days — a 2% lower offer ($409k) 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; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $408,775 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 6.0

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $406
• Equity at exit: $61,878

10-year hold

• IRR: 6.0%
• Equity multiple: 1.38×
• Total profit: $44,572
• Equity at exit: $35,882

Cash invested: $116,200 (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 33928

• Rents YoY: -1.4%
• Active inventory: 668
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $5,801 high
• Mortgage (P&I): −$2,176
• Tax from tax record: −$439 /mo · $5,272/yr
• Insurance: −$173
• HOA: −$470
• Vacancy / Maint / Mgmt: −$1,218
• Net cashflow: $1,324

Break-even live

Break-even rent $4,125

Max offer price $415,000

Occupancy floor 72%

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20271 Calice Ct #2304 Estero, FL	3.0	2.0	2009	$10,500	$5.23	23d	1	0.12mi
20240 Burnside Pl #1603 Estero, FL	3.0	2.5	1656	$5,995	$3.62	23d	1	0.16mi
20310 Calice Ct #1202 Estero, FL	3.0	2.0	1569	$5,500	$3.51	23d	1	0.19mi
20150 Seagrove St #2701 Estero, FL	3.0	2.5	1856	$2,895	$1.56	16d	1	0.23mi
20161 Seagrove St #102 Estero, FL	2.0	2.0	1702	$6,000	$3.53	23d	1	0.26mi
20161 Seagrove St #108 Estero, FL	2.0	2.0	1655	$5,995	$3.62	23d	1	0.26mi
20112 Saraceno Dr Estero, FL	3.0	2.0	2107	$10,750	$5.10	23d	1	0.27mi
20151 Seagrove St #206 Estero, FL	2.0	2.0	1735	$6,000	$3.46	23d	1	0.27mi
20101 Seagrove St #708 Estero, FL	3.0	2.0	1431	$5,995	$4.19	23d	1	0.33mi
20099 Seadale Ct Estero, FL	3.0	2.0	2079	$5,500	$2.65	23d	1	0.33mi
20083 Seadale Ct Estero, FL	2.0	2.0	1981	$10,500	$5.30	23d	1	0.36mi
19520 Highland Oaks Dr Estero, FL	3.0	1.0–2.0	977	$2,720	$2.78	2d	18	0.36mi
20057 Saraceno Dr Estero, FL	3.0	2.0	1848	$7,000	$3.79	23d	1	0.38mi
21301 Lancaster Run #822 Estero, FL	2.0	2.0	1134	$2,700	$2.38	23d	1	0.38mi
20053 Saraceno Dr Estero, FL	3.0	2.0	2045	$8,995	$4.40	23d	1	0.38mi
21311 Lancaster Run #721 Estero, FL	2.0	2.0	1200	$5,499	$4.58	23d	1	0.42mi
20051 Seagrove St #1202 Estero, FL	3.0	2.0	1567	$5,995	$3.83	23d	1	0.42mi
21330 Lancaster Run #1218 Estero, FL	2.0	2.0	1225	$2,500	$2.04	21d	1	0.51mi
21330 Lancaster Run Estero, FL	2.0	2.0	1225	$2,300	$1.88	23d	2	0.51mi
21300 Lancaster Run #926 Estero, FL	2.0	2.0	1360	$2,200	$1.62	10d	1	0.53mi
21340 Lancaster Run #1327 Estero, FL	2.0	2.0	1134	$2,500	$2.20	23d	1	0.55mi
21361 Lancaster Run #225 Estero, FL	2.0	2.0	1134	$2,000	$1.76	23d	1	0.58mi
21350 Lancaster Run Estero, FL	2.0	2.0	1200	$1,822	$1.52	3d	2	0.59mi
21371 Lancaster Run #122 Estero, FL	2.0	2.0	1134	$4,800	$4.23	23d	1	0.61mi
21370 Lancaster Run #1622 Estero, FL	2.0	2.0	1134	$4,500	$3.97	23d	1	0.64mi
21489 Sheridan Run Estero, FL	3.0	2.0	1645	$10,000	$6.08	23d	1	0.82mi
20257 Royal Villagio Ct Estero, FL	2.0–3.0	2.0	1364	$2,300	$1.69	3d	2	0.90mi
20257 Royal Villagio Ct #202 Estero, FL	3.0	2.0	1537	$2,300	$1.50	23d	1	0.90mi
10530 Otter Key Ln Estero, FL	2.0	2.0	2062	$2,995	$1.45	3d	1	0.96mi
20092 Palermo Lake Ct Estero, FL	3.0	2.0	1975	$7,995	$4.05	23d	1	0.97mi
10445 Corkscrew Commons Dr Estero, FL	1.0–2.0	1.0–2.0	1031	$2,060	$2.00	2d	17	0.97mi
10101 Villagio Palms Way Estero, FL	3.0	2.0–2.5	1732	$2,550	$1.47	3d	2	1.01mi
21565 Windham Run Estero, FL	3.0	2.0	1947	$3,000	$1.54	23d	1	1.02mi
12595 Grandezza Cir Estero, FL	3.0	2.0	1649	$10,500	$6.37	23d	1	1.03mi
20230 Estero Gardens Cir #206 Estero, FL	3.0	2.0	1828	$2,550	$1.39	23d	1	1.05mi
19640 Marino Lake Cir #2602 Miromar Lakes, FL	2.0	2.0	2034	$7,000	$3.44	23d	1	1.10mi
19721 Marino Lake Cir #1002 Miromar Lakes, FL	3.0	2.0	2034	$5,000	$2.46	11d	1	1.11mi
19630 Marino Lake Cir #2702 Miromar Lakes, FL	2.0	2.0	2034	$7,500	$3.69	23d	1	1.12mi
10140 North Golden Elm Dr Estero, FL	3.0	2.0	1631	$2,500	$1.53	19d	1	1.15mi
20321 Estero Gardens Cir Estero, FL	2.0–3.0	1.5–2.0	1423	$3,700	$2.60	23d	3	1.16mi

HOA detail condo

• Monthly dues: $470 · $5,640/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $415,000 Active 17 DOM
2. 2026-06-17
   days on market $415,000 Active 16 DOM
3. 2026-06-16
   days on market $415,000 Active 15 DOM
4. 2026-06-15
   days on market $415,000 Active 14 DOM
5. 2026-06-13
   days on market $415,000 Active 12 DOM
6. 2026-06-10
   days on market $415,000 Active 9 DOM
7. 2026-06-09
   days on market $415,000 Active 8 DOM
8. 2026-06-08
   days on market $415,000 Active 7 DOM
9. 2026-06-07
   days on market $415,000 Active 6 DOM
10. 2026-06-03
    days on market $415,000 Active 2 DOM
11. 2026-06-01
    remarks 695-char remark
12. 2026-06-01
    listed $415,000 Active 1 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: $5,272 · $439/mo
• Projected year-2 tax: $5,272 · $439/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,608
• − Mortgage interest: −$23,246
• − Property taxes: −$5,272
• − Insurance: −$2,075
• − Repairs & maintenance: −$5,569
• − Management: −$5,569
• − HOA: −$5,640
• − Depreciation: −$12,073
• Taxable income: $10,165
• Est. tax owed @ 24.0%: −$2,440
• After-tax cash flow: $13,448/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 — 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): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 606.0

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 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• 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

-79.7% since first listed

12 events — show timeline

• 2026-05-28 Listed $415,000 MIML
• 2026-05-27 Listed $415,000 FORTMLS
• 2024-12-27 Listing Removed — FORTMLS
• 2024-11-01 Price Changed $509,500 FORTMLS
• 2024-09-16 Price Changed $519,999 FORTMLS
• 2024-08-14 Price Changed $528,900 FORTMLS
• 2024-07-20 Listed $529,900 FORTMLS
• 2022-04-29 Sold (Public Records) $510,000 Public Records
• 2005-08-23 Sold (Public Records) $412,000 Public Records
• 2005-05-24 Sold (Public Records) $319,000 Public Records
• 2001-09-07 Sold (Public Records) $216,200 Public Records
• 2001-02-28 Sold (Public Records) $2,040,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $5,272 · -9.2% YoY. Source: county tax records.