3600 Rue Alec Loop #4 · North Fort Myers, FL 33917

$229,000

2 bd · 2.0 ba · 1,178 sqft · SingleFamily public records · 37 Days on market

Built 2006 3,397 sqft lot $359/mo HOA · 12% 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 +21.4/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 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 MLS

BEAUTIFULLY maintained, MAINTENACE FREE attached villa is waiting for your personal touch! No carpet in this spacious villa. .. there are TILE FLOORS THROUGHOUT the entire home! You will find the neutral decor so appealing, plus it makes incorporating your personal items easy. The fans, lighting, and bathroom fixtures have all been upgraded. The kitchen offers CORIAN COUNTERS, upgraded cabinets and a beautiful tile backsplash. There is room for a casual eating area and an EXTRA LARGE PANTRY for all your storage needs. The in-house laundry has a newer front load washer and dryer, and the laundry area leads to the full 2-car garage with utility sink. Entertain family and friends on your private screened, under roof LANAI or enjoy the PRIVATE PRESERVE VIEW from the concrete patio. With a 2024 NEW ROOF and ACCORDION HURRICANE SHUTTERS throughout, this home is ready for you to move in and begin enjoying the community right away! Herons Glen has numerous planned daily activities, Clubhouse with Ballroom, Restaurant, Lounge, Heated Pool, Hot Tub, many Craft & Card Rooms, Billiards, Bocce, FITNESS CENTER, PICKLEBALL, Shuffleboard, TENNIS and GOLF is OPTIONAL! Don't miss your opportunity to view this villa that has only been used as a winter residence. CALL TODAY for your private tour!

Key facts

• Split-bedroom layout
• Brand-new roof
• Large pantry

Tags

• PRIVATE COURTYARD ENTRY
• BREAKFAST BAR
• LARGE PANTRY
• SPLIT-BEDROOM LAYOUT
• PRIVATE LANAI
• BRAND-NEW ROOF

Property features AI

Finance

• Other: Community of 13 units
• Financial info: Association fee examples listed quarterly
• HOA & community: Homeowners association with quarterly fees; Association covers management, cable TV, internet, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, street lights and security; Community amenities include clubhouse, fitness center, pool, spa/hot tub, tennis and pickleball courts, bocce and shuffleboard courts, putting green, golf course, restaurant, billiards, library, hobby room, sidewalks, trails and management

Exterior

• Parking: Attached 2-car garage; Assigned parking; Garage with door opener; Two covered spaces
• Security: Gated community with security gate and guard; Smoke detectors
• Utilities: Cable available; High-speed internet available; Underground utilities; Sewer assessment paid; Water assessment paid; Irrigation water included in assessment (reclaimed water)
• Home design: One-story property; Entry level 1; Resale property; Has attached property
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Courtyard; Sprinkler/irrigation (automatic); Manual shutters; Lanai; Porch; Screened porch; Guest house attached; Community pool; Private paved road frontage; Rectangular lot; Northwest exposure; Southeast-facing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Self-cleaning oven; Eat-in kitchen; Breakfast bar; Pantry
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: Two full bathrooms; Dual sinks
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Attic; Breakfast bar; Built-in features; Eat-in kitchen; Family/dining room; High ceilings; Living/dining room; Pantry; Pull-down attic stairs; Shower only (separate shower); Cable TV; Walk-in closets; Window treatments; High-speed internet; Split bedrooms; Single hung and sliding windows with shutters
• Laundry & utility: Washer; Dryer; Laundry tub; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Market conditions: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $2,998/mo this rent would consume 65% of the median local household income ($55k/yr) (locally 775% 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 $2k of loan paydown is wiped out by about $7k 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 37 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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; severe wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-16,319
• Equity at exit: $34,145

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $10,349
• Equity at exit: $19,800

Cash invested: $64,120 (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: 841
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,998 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$374 /mo · $4,493/yr
• Insurance: −$95
• HOA: −$359
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $339

Break-even live

Break-even rent $2,569

Max offer price $229,000

Occupancy floor 84%

Sensitivity live

Price	-10% $468	-5% $404	+0% $339	+5% $274	+10% $209
Rent	-10% $102	-5% $220	+0% $339	+5% $457	+10% $576
Rate	-1.0pp $454	-0.5pp $397	base $339	+0.5pp $279	+1.0pp $219

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	17d	1	1.33mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	22d	1	1.33mi

HOA detail

• Monthly dues: $359 · $4,308/yr
• Likely covers: poolgym

Listing history 12 events

1. 2026-06-17
   days on market $229,000 Active 37 DOM
2. 2026-06-16
   days on market $229,000 Active 36 DOM
3. 2026-06-15
   days on market $229,000 Active 35 DOM
4. 2026-06-13
   days on market $229,000 Active 33 DOM
5. 2026-06-10
   days on market $229,000 Active 30 DOM
6. 2026-06-09
   days on market $229,000 Active 29 DOM
7. 2026-06-08
   days on market $229,000 Active 28 DOM
8. 2026-06-07
   days on market $229,000 Active 27 DOM
9. 2026-06-03
   days on market $229,000 Active 23 DOM
10. 2026-06-02
    days on market $229,000 Active 22 DOM
11. 2026-06-01
    days on market $229,000 Active 21 DOM
12. 2026-05-31
    days on market $229,000 Active 20 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: $4,493 · $374/mo
• Projected year-2 tax: $4,493 · $374/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 8/10 Severe
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,978
• − Mortgage interest: −$12,828
• − Property taxes: −$4,493
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,878
• − Management: −$2,878
• − HOA: −$4,308
• − Depreciation: −$6,662
• Taxable income: $786
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $3,877/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

-99.6% since first listed

21 events — show timeline

• 2026-05-28 Relisted — FORTMLS
• 2026-05-15 Pending — FORTMLS
• 2026-05-14 Listing Removed — FORTMLS
• 2026-04-27 Listed $229,000 FORTMLS
• 2026-04-17 Listing Removed — FORTMLS
• 2026-04-03 Relisted — FORTMLS
• 2026-03-16 Pending — FORTMLS
• 2026-02-22 Price Changed $239,000 FORTMLS
• 2025-11-19 Price Changed $245,000 FORTMLS
• 2025-10-07 Listed $250,000 FORTMLS
• 2024-11-27 Sold (Public Records) $269,000 Public Records
• 2024-11-25 Sold (MLS) $269,000 FORTMLS
• 2024-10-30 Pending — FORTMLS
• 2024-09-25 Listed $269,000 FORTMLS
• 2018-07-19 Sold (Public Records) $157,800 Public Records
• 2018-07-06 Sold (MLS) $157,750 FORTMLS
• 2018-05-10 Pending — FORTMLS
• 2018-03-21 Price Changed $161,500 FORTMLS
• 2018-01-19 Listed $163,900 FORTMLS
• 2005-06-23 Sold (Public Records) $370,800 Public Records
• 2005-05-12 Sold (Public Records) $52,500,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,493 · +4.2% YoY. Source: county tax records.