2124 E Gardenia Cir · North Fort Myers, FL 33917

$200,000

3 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 120 Days on market

Built 1962 7,840 sqft lot Est $303k · 34% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +4.8/10.0
• 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

Wonderful layout! This single family home is deceptive from the curb, it is has a SPRAWLING floor plan. Plenty of room for every member of the family, PLUS a huge backyard giving you tons of space to create a stunning outdoor living area. Inside the home you will find an updated kitchen, living room, dining room, large laundry room, family room w/ sliders leading to the backyard, 3 bedrooms all w/ large closets, and an updated full bath. Bonus features of the home are a long driveway leading to a 1-car carport, wide covered sitting area at front entry, and mature landscaping. Situated in a highly desired non-gated neighborhood that lines the shore of the Caloosahatchee River. Conveniently l

Key facts

• 1-car carport
• Huge backyard
• Large laundry room

Tags

• SPRAWLING FLOOR PLAN
• HUGE BACKYARD
• UPDATED KITCHEN
• LARGE LAUNDRY ROOM
• LONG DRIVEWAY
• 1-CAR CARPORT

Property features AI

Finance

• Financial info: Pets are allowed
• HOA & community: Association amenities: cabana, storage; Association fee listed as 0

Exterior

• Parking: Driveway; Paved parking; Attached carport with 1 covered space (total two parking spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Single-story home; Entry level: 1; Resale property; Faces northwest
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Fenced yard; Room for a pool; Paved road access; Rectangular lot; Southeast exposure

Interior

• Kitchen: Cooktop; Range; Self-cleaning oven; Dishwasher; Refrigerator; Freezer
• Bedrooms: Includes guest quarters; Split bedroom layout
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Eat-in kitchen; Pantry; Split bedrooms; Cable TV; Window coverings and treatments; None (other specified features not applicable)
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (1.9% below list).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Sunshine Elementary School (math 38% / reading 42%, grade F, #1,491 of 2,144 statewide, top 70%, 1,301 students, 74% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents rising (+2.6%/yr); 846 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 43% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $6k 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 120 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $86k; list at $200k implies a 133% gain — meaningful room to come down on a strong offer.

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; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,000 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 8.51%
• Cash-on-cash: 7.93%
• DSCR: 1.35
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $302,528
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16268 Horizon Rd	0.47mi	3/2.0	1,250 (-4%)	10mo	$289,500	$232	58
7589 Bonita Blvd	0.57mi	2/1.0 (-1)	1,284 (-2%)	16mo	$317,500	$247	53
2263 Club House Rd	0.72mi	2/1.0 (-1)	1,173 (-10%)	4mo	$244,880	$209	41

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: -18.7%
• Equity multiple: 0.35×
• Total profit: $-36,557
• Equity at exit: $29,821

10-year hold

• IRR: -11.8%
• Equity multiple: 0.31×
• Total profit: $-38,738
• Equity at exit: $17,292

Cash invested: $56,000 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,962 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-56

Break-even live

Break-even rent $2,033

Max offer price $190,048

Occupancy floor 98%

Sensitivity live

Price	-10% $57	-5% $0	+0% $-56	+5% $-113	+10% $-170
Rent	-10% $-211	-5% $-134	+0% $-56	+5% $21	+10% $99
Rate	-1.0pp $44	-0.5pp $-5	base $-56	+0.5pp $-108	+1.0pp $-161

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10820 Firebush Cir North Fort Myers, FL	3.0	2.0	1661	$1,895	$1.14	4d	1	0.21mi
16031 Enclaves Cove Dr North Fort Myers, FL	4.0	2.0	1850	$2,499	$1.35	4d	1	0.23mi
16031 Enclaves Cove Dr North Fort Myers, FL	4.0	2.0	1850	$2,499	$1.35	16d	1	0.23mi
10820 Marlberry Way North Fort Myers, FL	4.0	2.0	1850	$2,350	$1.27	25d	1	0.34mi
10754 Marlberry Way North Fort Myers, FL	3.0	2.0	1661	$1,900	$1.14	4d	1	0.35mi
15100 Caspian Tern Ct North Fort Myers, FL	2.0	2.5	1365	$1,595	$1.17	25d	1	0.36mi
15070 Caspian Tern Ct Unit 105 North Fort Myers, FL	3.0	2.5	1583	$1,750	$1.11	4d	1	0.36mi
15120 Caspian Tern Ct North Fort Myers, FL	3.0	2.5	1583	$1,600	$1.01	17d	1	0.36mi
15120 Caspian Tern Ct #105 North Fort Myers, FL	3.0	2.5	1583	$1,695	$1.07	3d	1	0.36mi
15050 Caspian Tern Ct #103 North Fort Myers, FL	2.0	2.5	1365	$1,520	$1.11	25d	1	0.38mi
6391 Brant Bay Blvd #101 North Fort Myers, FL	3.0	2.5	1583	$1,700	$1.07	25d	1	0.41mi
6391 Brant Bay Blvd Unit 102 North Fort Myers, FL	3.0	2.5	1502	$1,595	$1.06	4d	1	0.41mi
7306 Coon Rd North Fort Myers, FL	2.0	1.0	1000	$1,300	$1.30	13d	1	0.44mi
15020 Caspian Tern Ct Unit 103 North Fort Myers, FL	2.0	2.5	1286	$1,600	$1.24	25d	1	0.44mi
15011 Caspian Tern Ct #101 North Fort Myers, FL	3.0	2.5	1583	$1,725	$1.09	4d	1	0.45mi
15010 Caspian Tern Ct North Fort Myers, FL	3.0	2.5	1583	$1,850	$1.17	25d	1	0.46mi
15121 Piping Plover Ct North Fort Myers, FL	3.0	2.5	1583	$1,675	$1.06	20d	1	0.49mi
15121 Piping Plover Ct #101 North Fort Myers, FL	3.0	2.5	1583	$1,675	$1.06	25d	1	0.50mi
15493 Admiralty Cir #5 North Fort Myers, FL	2.0	2.0	1146	$2,400	$2.09	25d	1	0.60mi
2212 Club House Rd North Fort Myers, FL	2.0	2.0	1602	$3,500	$2.18	25d	1	0.73mi
226 Lamplighter Ln North Fort Myers, FL	2.0	1.0	900	$899	$1.00	25d	1	0.75mi
15250 Riverbend Blvd #204 North Fort Myers, FL	2.0	2.0	1429	$1,600	$1.12	22d	1	0.89mi
106 Gaslight Ave North Fort Myers, FL	2.0	2.0	1056	$1,400	$1.33	4d	1	0.93mi
2500 Gail Helen Ct North Fort Myers, FL	3.0	2.0	1296	$1,500	$1.16	25d	1	0.95mi
137 Lantern Pl Unit A North Fort Myers, FL	2.0	1.0	1080	$1,200	$1.11	4d	1	0.96mi
15080 Riverbend Blvd #802 North Fort Myers, FL	2.0	2.0	1344	$1,850	$1.38	22d	1	1.01mi
15610 Crystal Lake Dr #101 North Fort Myers, FL	2.0	2.0	998	$1,900	$1.90	25d	1	1.04mi
15610 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	968	$1,850	$1.91	25d	1	1.04mi
280 Flame Ln North Fort Myers, FL	2.0	2.0	980	$1,350	$1.38	4d	1	1.05mi
16900 Slater Rd North Fort Myers, FL	2.0–4.0	2.0	1120	$1,524	$1.36	3d	17	1.06mi
410 Suwanee Dr North Fort Myers, FL	3.0	2.0	1480	$1,650	$1.11	25d	1	1.13mi
5707 Foxlake Dr #2 North Fort Myers, FL	2.0	2.0	1114	$1,500	$1.35	25d	1	1.16mi
7622 Peyraud Dr North Fort Myers, FL	3.0	2.0	1404	$1,350	$0.96	25d	1	1.16mi
5701 Longleaf Dr North Fort Myers, FL	2.0	2.0	1233	$1,570	$1.27	13d	1	1.19mi
15427 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	1021	$3,200	$3.13	25d	1	1.25mi
7050 Nantucket Cir #6 North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	17d	1	1.36mi
7050 Nantucket Cir North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	25d	1	1.36mi

Listing history 18 events

1. 2026-06-22
   days on market $200,000 Active 120 DOM
2. 2026-06-17
   days on market $200,000 Active 116 DOM
3. 2026-06-16
   days on market $200,000 Active 115 DOM
4. 2026-06-15
   days on market $200,000 Active 114 DOM
5. 2026-06-13
   days on market $200,000 Active 112 DOM
6. 2026-06-10
   days on market $200,000 Active 109 DOM
7. 2026-06-09
   days on market $200,000 Active 108 DOM
8. 2026-06-07
   days on market $200,000 Active 106 DOM
9. 2026-06-02
   days on market $200,000 Active 101 DOM
10. 2026-06-01
    days on market $200,000 Active 100 DOM
11. 2026-06-01
    days on market $200,000 Active 99 DOM
12. 2026-05-15
    price $200,000
13. 2026-01-31
    listed $220,000 Active
14. 2002-04-08
    soldstatus $86,000
15. 2001-12-21
    soldstatus $44,200
16. 2001-12-06
    price $46,500
17. 1999-12-13
    soldstatus $51,500
18. 1990-05-29
    soldstatus $47,000

ⓘ 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: $568 · $47/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$1,092/yr (+$91/mo · 192.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 56% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $23,539
• − Mortgage interest: −$11,203
• − Property taxes: −$568
• − Insurance: −$6,118
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$5,818
• Taxable loss: −$3,935
• Est. tax savings @ 24.0%: +$944
• After-tax cash flow: $268/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

+325.5% since first listed

7 events — show timeline

• 2026-05-15 Price Changed $200,000 FORTMLS
• 2026-01-31 Listed $220,000 FORTMLS
• 2002-04-08 Sold (Public Records) $86,000 Public Records
• 2001-12-21 Sold (MLS) $44,200 FORTMLS
• 2001-12-06 Price Changed $46,500 FORTMLS
• 1999-12-13 Sold (Public Records) $51,500 Public Records
• 1990-05-29 Sold (Public Records) $47,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $568 · +11.1% YoY. Source: county tax records.