113-119 Fairweather Ln · Fort Myers Beach, FL 33931

$1,490,000

2 bd · 2.0 ba · 1,020 sqft · MultiFamily public records · 214 Days on market

Built 1957 9,844 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Stunning Income-Producing 4-Plex on Fort Myers Beach Discover an exceptional investment opportunity just steps from the white-sand shoreline of Fort Myers Beach. This 4-unit multifamily property offers the perfect blend of island living and strong rental performance. Each unit is thoughtfully designed to maximize comfort, natural light, and functionality, appealing to both long-term residents and short-term vacation tenants. This property was completely remodeled and completed in late 2025, is located on a street that allows weekly rentals which means 1 guest per week, no matter how long the reservation! The property features updated interiors, modern kitchens, and well-maintained bat

Key facts

• Remodeled
• Modern kitchens
• Updated interiors

Tags

• INCOME PRODUCING 4 PLEX
• INVESTMENT OPPORTUNITY
• REMODELED
• UPDATED INTERIORS
• MODERN KITCHENS
• WELL MAINTAINED BATHROOMS

Property features AI

Finance

• Other: Pets allowed
• Financial info: Gross scheduled income: $200,000; Operating expenses: $80,000; Typical actual rent per 1-bedroom furnished unit: $4,200
• HOA & community: Association provides beach access; Non-gated community

Exterior

• Parking: Public maintained road access
• Utilities: Cable available; Water assessment paid; Sewer assessment paid
• Home design: Multi-family property with 4 total units; Resale condition; Zoned RM-2
• Construction: Block, concrete and stucco construction; Built-up and flat roof
• Exterior features: Fenced property; Room available for a pool; Across-the-road water frontage; Oversized lot

Interior

• Kitchen: Each unit includes a cooktop and range; Microwave in units; Refrigerator (with ice in some units); Freezer in some units
• Bedrooms: Four 1-bedroom units (each furnished)
• Flooring: Tile flooring throughout
• Bathrooms: Four full bathrooms
• Heating & cooling: Window heating units; Wall and window cooling units
• Interior features: Impact glass windows
• Laundry & utility: Cable available

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $1.49M.

Deal economics

• At list price, monthly cash flow is $-2k ($-29k/yr) — negative. Per door: $-597/mo.
• To cash-flow at today's rent, offer at most $1.07M (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $904k (39.3% below list).
• Recommended offer: $904k (39.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 0.3% in Fort Myers Beach — 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 69/100 on livability (#489 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools A-; Watch: amenities F, commute F, cost of living 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: 876 active listings in the ZIP; 8 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 $9,037/mo this rent would consume 137% of the median local household income ($79k/yr) (locally 145% 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 $10k of loan paydown is wiped out by about $45k 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 214 days — a 12% lower offer ($1.31M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $500k; list at $1.49M implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $903,700 (39.3% 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 214 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.61% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.64%
• DSCR: 0.75
• GRM: 13.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -28.2%
• Equity multiple: 0.06×
• Total profit: $-393,754
• Equity at exit: $222,164

10-year hold

• IRR: -27.5%
• Equity multiple: -0.29×
• Total profit: $-539,935
• Equity at exit: $128,828

Cash invested: $417,200 (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 33931

• Home prices YoY: -18.8%
• Active inventory: 876
• Price-to-rent: 55.0×

Monthly cashflow live

• Estimated rent: $9,037 medium
• Mortgage (P&I): −$7,814
• Tax from tax record: −$664 /mo · $7,971/yr
• Insurance: −$621
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,898
• Net cashflow: $-2,386

Break-even live

Break-even rent $12,057

Max offer price $1,068,485

Occupancy floor —

Sensitivity live

Price	-10% $-1,543	-5% $-1,964	+0% $-2,386	+5% $-2,808	+10% $-3,230
Rent	-10% $-3,100	-5% $-2,743	+0% $-2,386	+5% $-2,029	+10% $-1,672
Rate	-1.0pp $-1,636	-0.5pp $-2,007	base $-2,386	+0.5pp $-2,772	+1.0pp $-3,165

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$9,036
Total (4 units)			$9,037

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: $372,500
• Closing costs: $44,700
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Fairweather Ln Unit 5 Fort Myers Beach, FL	1.0	1.0	850	$1,595	$1.88	25d	1	0.11mi
2532 Estero Blvd #208 Fort Myers Beach, FL	2.0	2.0	1312	$4,900	$3.73	25d	1	0.22mi
2560 Estero Blvd Unit 4A Fort Myers Beach, FL	3.0	2.0	1211	$4,900	$4.05	25d	1	0.24mi
1511 Estero Blvd Fort Myers Beach, FL	2.0	2.0	961	$7,000	$7.28	25d	1	0.33mi
2810 Estero Blvd #511 Fort Myers Beach, FL	2.0	2.0	1266	$13,250	$10.47	25d	1	0.46mi
254 Palermo Cir Fort Myers Beach, FL	3.0	2.0	1104	$2,600	$2.36	25d	1	0.52mi
70 Emily Ln Fort Myers Beach, FL	2.0	2.0	960	$5,000	$5.21	25d	1	0.81mi
200 Mid Island Dr Fort Myers Beach, FL	2.0	2.0	900	$1,700	$1.89	25d	1	1.02mi

Listing history 13 events

1. 2026-06-17
   days on market $1,490,000 Active 214 DOM
2. 2026-06-16
   days on market $1,490,000 Active 213 DOM
3. 2026-06-16
   days on market $1,490,000 Active 212 DOM
4. 2026-06-13
   days on market $1,490,000 Active 210 DOM
5. 2026-06-09
   days on market $1,490,000 Active 206 DOM
6. 2026-06-07
   days on market $1,490,000 Active 204 DOM
7. 2026-06-02
   days on market $1,490,000 Active 199 DOM
8. 2026-06-01
   days on market $1,490,000 Active 198 DOM
9. 2026-06-01
   days on market $1,490,000 Active 197 DOM
10. 2025-11-15
    listed $1,490,000 Active
11. 2019-06-13
    soldstatus $500,000
12. 1994-04-29
    soldstatus $155,000
13. 1978-04-01
    soldstatus $78,000

ⓘ 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: $7,971 · $664/mo
• Projected year-2 tax: $12,367 · $1,031/mo
• Expected delta: +$4,396/yr (+$366/mo · 55.2%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 28 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: $108,444
• − Mortgage interest: −$83,463
• − Property taxes: −$7,971
• − Insurance: −$12,568
• − Repairs & maintenance: −$8,676
• − Management: −$8,676
• − Depreciation: −$43,345
• Taxable loss: −$56,255
• Est. tax savings @ 24.0%: +$13,501
• After-tax cash flow: $-15,132/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 — Fort Myers Beach

• Score: 69/100
• State rank: #489
• US rank: #8995

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Myers Beach, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 8,350
• Household income: $79,018
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 145.0

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 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: ▼ -194.12%
• Current HPI: 837.37
• Rent YoY: —
• 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

+1810.3% since first listed

4 events — show timeline

• 2025-11-15 Listed $1,490,000 FORTMLS
• 2019-06-13 Sold (Public Records) $500,000 Public Records
• 1994-04-29 Sold (Public Records) $155,000 Public Records
• 1978-04-01 Sold (Public Records) $78,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $7,971 · -28.1% YoY. Source: county tax records.