20211 Calice Ct #2802 · Estero, FL 33928

$425,000

3 bd · 2.0 ba · 1,569 sqft · Condo public records · 152 Days on market

Built 2001 $974/mo HOA · 17% of rent

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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 +24.4/30.0
• 1% rule +8.7/10.0
• DSCR +7.9/10.0
• 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

Rarely available first-floor end unit condominium in Oakwood. Enjoy your morning coffee watching the sun come up over the lake and golf course from your spacious screened lanai. This two-bedroom plus den or three-bedroom, two-bath condominium is located in Grandezza, a 550-acre luxury gated golf course community with world-class amenities. Tile on the diagonal in the main living areas, double attached garage and full-size laundry room. The master bedroom has two large walk-in closets, as well as a hanging closet plus a linen closet. Located directly across from the Oakwood community pool and clubhouse. Walking distance to the recently renovated and updated Grandezza clubhouse. Beautifully maintained community with newer roof.

Key facts

• Screened lanai
• New ac system
• Updated coach home

Tags

• UPDATED COACH HOME
• NEW QUARTZ COUNTERTOPS
• UPDATED KITCHEN APPLIANCES
• NEW AC SYSTEM
• WATER HEATER REPLACED
• SCREENED LANAI

Property features AI

Finance

• Other: No RV allowed; Deeded restrictions; No commercial use allowed
• Financial info: Total annual recurring fees listed; Total one-time fees listed
• HOA & community: Mandatory HOA/Condo association; Quarterly condo fee; Annual mandatory club fee; Condo management; Master association fee included; Community amenities: clubhouse, community pool and spa, exercise room, tennis courts, bocce court, putting green, restaurant, cabana, sidewalks, streetlights, underground utilities, private membership (golf); Maintenance provided: cable, insurance, irrigation water, lawn/land maintenance, pest control (exterior), sewer, street maintenance, legal/accounting, manager

Exterior

• Parking: Attached garage; 2 garage spaces; Covered parking with 2+ spaces
• Security: Gated community; Concierge services available
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential carriage/coach style; Low-rise building (1–3 stories); Built in 2001; Rear exposure faces east; Located in the GRANDEZZA development (Oakwood sub-condo)
• Construction: Concrete block construction; Tile roof
• Exterior features: Automatic sprinkler system; Electric storm shutters; Single-hung windows; Stucco exterior; Golf course and water views; Zero lot line; Private road access; Reclaimed irrigation water

Interior

• Kitchen: Pantry; Electric cooktop; Self-cleaning oven; Microwave; Dishwasher; Disposal; Refrigerator / freezer / icemaker
• Bedrooms: 3 bedrooms; Master bedroom on ground level; First-floor bedroom; Split bedroom arrangement
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Cable prewired; High-speed internet available; Pantry; Smoke detectors; Den (study); Guest room; Screened lanai/porch; Dining area open to family room; Great room floor plan; Split-bedroom layout
• Laundry & utility: Washer and dryer included; Laundry in residence; Auto garage door opener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $863 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 25d 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 $5,816/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 $13k 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 152 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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 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: 1.37% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.70%
• DSCR: 1.39
• GRM: 6.1

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: -7.2%
• Equity multiple: 0.74×
• Total profit: $-30,389
• Equity at exit: $63,369

10-year hold

• IRR: -2.9%
• Equity multiple: 0.84×
• Total profit: $-19,239
• Equity at exit: $36,746

Cash invested: $119,000 (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 33928

• Rents YoY: -1.4%
• Active inventory: 668
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $5,816 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$352 /mo · $4,225/yr
• Insurance: −$177
• HOA: −$974
• Vacancy / Maint / Mgmt: −$1,221
• Net cashflow: $863

Break-even live

Break-even rent $4,724

Max offer price $425,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,103	-5% $983	+0% $863	+5% $742	+10% $622
Rent	-10% $403	-5% $633	+0% $863	+5% $1,092	+10% $1,322
Rate	-1.0pp $1,077	-0.5pp $971	base $863	+0.5pp $753	+1.0pp $641

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: $106,250
• Closing costs: $12,750
• 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	24d	1	0.10mi
20150 Seagrove St #2701 Estero, FL	3.0	2.5	1856	$2,895	$1.56	17d	1	0.18mi
20310 Calice Ct #1202 Estero, FL	3.0	2.0	1569	$5,500	$3.51	24d	1	0.19mi
20161 Seagrove St #108 Estero, FL	2.0	2.0	1655	$5,995	$3.62	24d	1	0.20mi
20161 Seagrove St #102 Estero, FL	2.0	2.0	1702	$6,000	$3.53	24d	1	0.20mi
20151 Seagrove St #206 Estero, FL	2.0	2.0	1735	$6,000	$3.46	24d	1	0.22mi
20240 Burnside Pl #1603 Estero, FL	3.0	2.5	1656	$5,995	$3.62	24d	1	0.22mi
20112 Saraceno Dr Estero, FL	3.0	2.0	2107	$10,750	$5.10	24d	1	0.28mi
20101 Seagrove St #708 Estero, FL	3.0	2.0	1431	$5,995	$4.19	24d	1	0.29mi
20099 Seadale Ct Estero, FL	3.0	2.0	2079	$5,500	$2.65	24d	1	0.36mi
21301 Lancaster Run #822 Estero, FL	2.0	2.0	1134	$2,700	$2.38	24d	1	0.36mi
20057 Saraceno Dr Estero, FL	3.0	2.0	1848	$7,000	$3.79	24d	1	0.38mi
20083 Seadale Ct Estero, FL	2.0	2.0	1981	$10,500	$5.30	24d	1	0.39mi
20053 Saraceno Dr Estero, FL	3.0	2.0	2045	$8,995	$4.40	24d	1	0.39mi
21311 Lancaster Run #721 Estero, FL	2.0	2.0	1200	$5,499	$4.58	24d	1	0.40mi
20051 Seagrove St #1202 Estero, FL	3.0	2.0	1567	$5,995	$3.83	24d	1	0.40mi
19520 Highland Oaks Dr Estero, FL	3.0	1.0–2.0	977	$2,720	$2.78	3d	18	0.42mi
21330 Lancaster Run #1218 Estero, FL	2.0	2.0	1225	$2,500	$2.04	22d	1	0.49mi
21330 Lancaster Run Estero, FL	2.0	2.0	1225	$2,300	$1.88	24d	2	0.49mi
21300 Lancaster Run #926 Estero, FL	2.0	2.0	1360	$2,200	$1.62	11d	1	0.51mi
21340 Lancaster Run #1327 Estero, FL	2.0	2.0	1134	$2,500	$2.20	24d	1	0.53mi
21361 Lancaster Run #225 Estero, FL	2.0	2.0	1134	$2,000	$1.76	24d	1	0.55mi
21350 Lancaster Run Estero, FL	2.0	2.0	1200	$1,822	$1.52	4d	2	0.57mi
21371 Lancaster Run #122 Estero, FL	2.0	2.0	1134	$4,800	$4.23	24d	1	0.58mi
21370 Lancaster Run #1622 Estero, FL	2.0	2.0	1134	$4,500	$3.97	24d	1	0.61mi
21489 Sheridan Run Estero, FL	3.0	2.0	1645	$10,000	$6.08	24d	1	0.83mi
20092 Palermo Lake Ct Estero, FL	3.0	2.0	1975	$7,995	$4.05	24d	1	0.91mi
20257 Royal Villagio Ct Estero, FL	2.0–3.0	2.0	1364	$2,300	$1.69	4d	2	0.96mi
20257 Royal Villagio Ct #202 Estero, FL	3.0	2.0	1537	$2,300	$1.50	24d	1	0.97mi
12595 Grandezza Cir Estero, FL	3.0	2.0	1649	$10,500	$6.37	24d	1	0.97mi
10530 Otter Key Ln Estero, FL	2.0	2.0	2062	$2,995	$1.45	4d	1	1.02mi
10445 Corkscrew Commons Dr Estero, FL	1.0–2.0	1.0–2.0	1031	$2,060	$2.00	3d	17	1.02mi
21565 Windham Run Estero, FL	3.0	2.0	1947	$3,000	$1.54	24d	1	1.04mi
10101 Villagio Palms Way Estero, FL	3.0	2.0–2.5	1732	$2,550	$1.47	4d	2	1.07mi
20230 Estero Gardens Cir #206 Estero, FL	3.0	2.0	1828	$2,550	$1.39	24d	1	1.11mi
19640 Marino Lake Cir #2602 Miromar Lakes, FL	2.0	2.0	2034	$7,000	$3.44	24d	1	1.14mi
19721 Marino Lake Cir #1002 Miromar Lakes, FL	3.0	2.0	2034	$5,000	$2.46	12d	1	1.15mi
19630 Marino Lake Cir #2702 Miromar Lakes, FL	2.0	2.0	2034	$7,500	$3.69	24d	1	1.16mi
10707 Pearl Bay Cir Estero, FL	3.0	2.0	1207	$2,600	$2.15	20d	1	1.21mi
10140 North Golden Elm Dr Estero, FL	3.0	2.0	1631	$2,500	$1.53	20d	1	1.21mi

HOA detail condo

• Monthly dues: $974 · $11,688/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-07
   days on market $425,000 Active 152 DOM
2. 2026-06-02
   days on market $425,000 Active 147 DOM
3. 2026-06-01
   days on market $425,000 Active 146 DOM
4. 2026-06-01
   days on market $425,000 Active 145 DOM
5. 2026-01-06
   listed $425,000 Active
6. 2022-01-25
   soldstatus $394,000
7. 2022-01-19
   historical 735-char remark

   Show marketing remark (735 chars)

   Rarely available first-floor end unit condominium in Oakwood. Enjoy your morning coffee watching the sun come up over the lake and golf course from your spacious screened lanai. This two-bedroom plus den or three-bedroom, two-bath condominium is located in Grandezza, a 550-acre luxury gated golf course community with world-class amenities. Tile on the diagonal in the main living areas, double attached garage and full-size laundry room. The master bedroom has two large walk-in closets, as well as a hanging closet plus a linen closet. Located directly across from the Oakwood community pool and clubhouse. Walking distance to the recently renovated and updated Grandezza clubhouse. Beautifully maintained community with newer roof.

8. 2022-01-18
   soldstatus $394,000 Sold 735-char remark

   Show marketing remark (735 chars)

   Rarely available first-floor end unit condominium in Oakwood. Enjoy your morning coffee watching the sun come up over the lake and golf course from your spacious screened lanai. This two-bedroom plus den or three-bedroom, two-bath condominium is located in Grandezza, a 550-acre luxury gated golf course community with world-class amenities. Tile on the diagonal in the main living areas, double attached garage and full-size laundry room. The master bedroom has two large walk-in closets, as well as a hanging closet plus a linen closet. Located directly across from the Oakwood community pool and clubhouse. Walking distance to the recently renovated and updated Grandezza clubhouse. Beautifully maintained community with newer roof.

9. 2021-11-04
   status Pending With Contingencies 735-char remark

   Show marketing remark (735 chars)

   Rarely available first-floor end unit condominium in Oakwood. Enjoy your morning coffee watching the sun come up over the lake and golf course from your spacious screened lanai. This two-bedroom plus den or three-bedroom, two-bath condominium is located in Grandezza, a 550-acre luxury gated golf course community with world-class amenities. Tile on the diagonal in the main living areas, double attached garage and full-size laundry room. The master bedroom has two large walk-in closets, as well as a hanging closet plus a linen closet. Located directly across from the Oakwood community pool and clubhouse. Walking distance to the recently renovated and updated Grandezza clubhouse. Beautifully maintained community with newer roof.

10. 2021-11-02
    listed $365,000 Active 735-char remark

    Show marketing remark (735 chars)

    Rarely available first-floor end unit condominium in Oakwood. Enjoy your morning coffee watching the sun come up over the lake and golf course from your spacious screened lanai. This two-bedroom plus den or three-bedroom, two-bath condominium is located in Grandezza, a 550-acre luxury gated golf course community with world-class amenities. Tile on the diagonal in the main living areas, double attached garage and full-size laundry room. The master bedroom has two large walk-in closets, as well as a hanging closet plus a linen closet. Located directly across from the Oakwood community pool and clubhouse. Walking distance to the recently renovated and updated Grandezza clubhouse. Beautifully maintained community with newer roof.

11. 2001-02-28
    soldstatus $2,040,000

ⓘ 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: $4,225 · $352/mo
• Projected year-2 tax: $4,225 · $352/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: $69,792
• − Mortgage interest: −$23,807
• − Property taxes: −$4,225
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,583
• − Management: −$5,583
• − HOA: −$11,688
• − Depreciation: −$12,364
• Taxable income: $4,417
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $9,293/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

-79.2% since first listed

7 events — show timeline

• 2026-01-06 Listed $425,000 BEARMLS
• 2022-01-25 Sold (Public Records) $394,000 Public Records
• 2022-01-19 Listing Removed — NAPLESMLS
• 2022-01-18 Sold (MLS) $394,000 NAPLESMLS
• 2021-11-04 Pending — NAPLESMLS
• 2021-11-02 Listed $365,000 NAPLESMLS
• 2001-02-28 Sold (Public Records) $2,040,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $4,225 · +4.0% YoY. Source: county tax records.