Imagination 2 Plan · Verandah, FL 33905

$275,990

3 bd · 2.0 ba · 1,778 sqft · SingleFamily · 129 Days on market

Excellent condition 2-car garage

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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 +5.6/30.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• Livability +2.5/5.0
• Rent growth +1.8/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

* Base price does not include the homesite premium or design options. * The Imagination 2 is a wonderful home design encompassing 3 bedrooms, 2 baths and a 2-car garage across 1,778 sq. ft. of living space. Walk through the foyer where you'll be greeted by the sight of the luxurious great room area. The hub of the home, a beautiful open concept kitchen, features a spacious island and breakfast area for culinary enjoyment. The kitchen includes glass sliding doors leading to the lanai, perfect for when you want to enjoy an outdoor meal. The master bedroom includes a walk-in closet, corner shower and private water closet. The remaining 2 bedrooms are located by a secondary bath.

Key facts

• Spacious island
• Open concept kitchen
• Glass sliding doors

Tags

• OPEN CONCEPT KITCHEN
• SPACIOUS ISLAND
• BREAKFAST AREA
• GLASS SLIDING DOORS
• LANAI
• WALK-IN CLOSET

🏗️ New construction. The $275,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $599,347.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $276k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $276k).
• Recommended offer: $243k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.8% vs local median 2.5% in Verandah — 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: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% 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 soft (-3.0%/yr); 1226 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,649/mo this rent would consume 61% of the median local household income ($72k/yr) — 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 $4k of loan paydown is wiped out by about $18k 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 129 days — a 12% lower offer ($243k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $242,871 (12.0% 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 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 0.61% ✗
• Cap rate: 3.77%
• Cash-on-cash: -9.01%
• DSCR: 0.60
• GRM: 13.7

CMA / ARV

• ARV (median comp): $599,347
• List price: $275,990
• Delta: -53.95%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3151 Cottonwood Bnd #1306	0.17mi	3/2.5	1,821 (+2%)	1mo	$210,000	$115	85
3171 Cottonwood Bnd #1106	0.19mi	3/2.5	1,821 (+2%)	1mo	$225,000	$124	84
3231 Cottonwood Bnd #301	0.14mi	3/2.5	1,703 (-4%)	1mo	$193,750	$114	83
3180 Bramble Cove Ct	0.46mi	3/2.0	1,661 (-7%)	2mo	$350,000	$211	66
3080 Meandering Way #201	0.65mi	3/2.0	1,690 (-5%)	3mo	$260,000	$154	59
16941 Carolyn Ln	1.35mi	3/2.0	1,885 (+6%)	3mo	$315,000	$167	53
16990 Laurelin Ct	1.33mi	3/2.0	1,663 (-6%)	2mo	$299,000	$180	52
2414 Parkview Dr	1.24mi	3/2.0	1,935 (+9%)	3mo	$210,000	$109	48
11407 Rabun Gap Dr	1.49mi	3/2.0	1,551 (-13%)	2mo	$320,000	$206	42
12641 1st St	1.27mi	3/2.0	1,530 (-14%)	2mo	$249,500	$163	40
12401 Davis Blvd	1.46mi	4/3.0 (+1)	1,934 (+9%)	2mo	$270,000	$140	39
2114 Davis Blvd	1.38mi	4/2.0 (+1)	1,542 (-13%)	1mo	$280,000	$182	37

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -35.6%
• Equity multiple: -0.12×
• Total profit: $-187,975
• Equity at exit: $89,365

10-year hold

• IRR: -70.9%
• Equity multiple: -0.84×
• Total profit: $-308,079
• Equity at exit: $51,821

Cash invested: $167,817 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 18 active · 4 under contract
• Months of supply: 54.0 mo (2%/mo absorbed)
• Median asking: $363,490 ($185/sqft)
• Median days on market: 152 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +81.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 1226
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,649 high
• Mortgage (P&I): −$3,143
• Tax est. 1.5%: −$749 /mo · $8,990/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $-1,259

Break-even live

Break-even rent $5,243

Max offer price $417,097

Occupancy floor —

Sensitivity live

Price	-10% $-845	-5% $-1,052	+0% $-1,259	+5% $-1,467	+10% $-1,674
Rent	-10% $-1,548	-5% $-1,404	+0% $-1,259	+5% $-1,115	+10% $-971
Rate	-1.0pp $-958	-0.5pp $-1,107	base $-1,259	+0.5pp $-1,415	+1.0pp $-1,573

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: $149,837
• Closing costs: $17,980
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 Cottonwood Bnd #1901 Fort Myers, FL	3.0	2.5	1821	$2,500	$1.37	164d	1	0.06mi
3100 Cottonwood Bnd #1901 Fort Myers, FL	3.0	2.5	1821	$5,000	$2.75	55d	1	0.06mi
3111 Cottonwood Bnd #1704 Fort Myers, FL	3.0	2.5	1833	$3,000	$1.64	164d	1	0.09mi
3241 Cottonwood Bnd #101 Fort Myers, FL	3.0	2.5	1821	$2,490	$1.37	119d	1	0.11mi
3231 Cottonwood Bnd #303 Fort Myers, FL	3.0	2.5	1821	$3,500	$1.92	10d	1	0.13mi
3231 Cottonwood Bnd #303 Fort Myers, FL	3.0	2.5	1821	$3,500	$1.92	37d	1	0.13mi
3240 Cottonwood Bnd #201 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	164d	1	0.14mi
3240 Cottonwood Bnd #201 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	6d	1	0.14mi
3240 Cottonwood Bnd #201 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	10d	1	0.14mi
3230 Cottonwood Bnd #406 Fort Myers, FL	3.0	2.5	1821	$4,700	$2.58	127d	1	0.16mi
3211 Cottonwood Bnd #705 Fort Myers, FL	3.0	2.5	1867	$5,000	$2.68	138d	1	0.18mi
3211 Cottonwood Bnd #701 Fort Myers, FL	3.0	3.0	1821	$2,500	$1.37	164d	1	0.18mi
3171 Cottonwood Bnd #1105 Fort Myers, FL	3.0	2.5	1867	$1,900	$1.02	10d	1	0.18mi
3181 Cottonwood Bnd #901 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	164d	1	0.19mi
3181 Cottonwood Bnd #901 Fort Myers, FL	3.0	2.5	1821	$3,000	$1.65	10d	1	0.19mi
3210 Cottonwood Bnd #803 Fort Myers, FL	3.0	2.5	1867	$5,500	$2.95	10d	1	0.21mi
3210 Cottonwood Bnd #803 Fort Myers, FL	3.0	2.5	1867	$5,500	$2.95	6d	1	0.21mi
11970 Bramble Cove Dr Fort Myers, FL	4.0	3.0	1994	$3,800	$1.91	46d	1	0.47mi
3131 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$2,500	$1.76	10d	1	0.57mi
3131 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$2,500	$1.76	46d	1	0.57mi
3111 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$2,700	$1.90	164d	1	0.58mi
3120 Meandering Way #202 Fort Myers, FL	3.0	2.0	1690	$3,000	$1.78	164d	1	0.61mi
3071 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$3,000	$2.11	164d	1	0.61mi
3080 Meandering Way #202 Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	131d	1	0.63mi
3021 Meandering Way #202 Fort Myers, FL	3.0	2.0	1690	$6,500	$3.85	21d	1	0.63mi
3021 Meandering Way #201 Fort Myers, FL	3.0	2.0	1690	$6,500	$3.85	27d	1	0.63mi
3021 Meandering Way #202 Fort Myers, FL	3.0	2.0	1690	$6,500	$3.85	10d	1	0.63mi
3011 Meandering Way #202 Fort Myers, FL	2.0	2.0	1690	$2,500	$1.48	130d	1	0.64mi
3050 Meandering Way #201 Fort Myers, FL	2.0	2.0	1690	$6,000	$3.55	10d	1	0.65mi
3131 Orangetree Bnd Fort Myers, FL	3.0	3.0	1842	$7,000	$3.80	41d	1	0.92mi
3131 Orangetree Bnd Fort Myers, FL	3.0	3.0	1842	$7,000	$3.80	10d	1	0.92mi
3131 Orangetree Bnd Fort Myers, FL	3.0	3.0	1842	$7,000	$3.80	164d	1	0.92mi
12641 1st St Fort Myers, FL	3.0	2.0	1530	$1,900	$1.24	130d	1	1.26mi
2260 Davis Blvd Fort Myers, FL	2.0	2.0	1300	$1,850	$1.42	123d	1	1.27mi
12639 5th St Fort Myers, FL	4.0	2.0	1533	$1,900	$1.24	110d	1	1.29mi
2123 Davis Blvd Fort Myers, FL	3.0	3.0	1488	$2,995	$2.01	10d	1	1.34mi
12937 Fourth St Fort Myers, FL	2.0	1.0	1236	$1,900	$1.54	164d	1	1.43mi
2804 River Ridge Blvd Unit 1 Fort Myers, FL	2.0	1.0	1404	$1,350	$0.96	10d	1	1.44mi
2804 River Ridge Blvd Unit 1 Fort Myers, FL	2.0	1.0	1404	$1,350	$0.96	55d	1	1.44mi
2804 River Ridge Blvd Fort Myers, FL	2.0	2.0	1404	$1,350	$0.96	164d	1	1.44mi

Property features AI

Finance

• Financial info: List price $275,990

Exterior

• Parking: 2 total parking spaces2-car garage
• Home design: New construction plan: Imagination 2Inventory type: Plan

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area approximately 1,778 (listed)

Listing history 50 events

1. 2026-11-08
   days on market $275,990 Active 129 DOM
2. 2026-11-07
   days on market $275,990 Active 128 DOM
3. 2026-11-06
   days on market $275,990 Active 127 DOM
4. 2026-11-05
   days on market $275,990 Active 126 DOM
5. 2026-11-04
   days on market $275,990 Active 125 DOM
6. 2026-11-01
   days on market $275,990 Active 122 DOM
7. 2026-11-01
   days on market $275,990 Active 121 DOM
8. 2026-10-30
   days on market $275,990 Active 120 DOM
9. 2026-10-29
   days on market $275,990 Active 119 DOM
10. 2026-10-28
    days on market $275,990 Active 118 DOM
11. 2026-10-27
    days on market $275,990 Active 117 DOM
12. 2026-10-26
    days on market $275,990 Active 116 DOM
13. 2026-10-26
    days on market $275,990 Active 115 DOM
14. 2026-10-23
    days on market $275,990 Active 113 DOM
15. 2026-10-22
    days on market $275,990 Active 112 DOM
16. 2026-10-21
    days on market $275,990 Active 111 DOM
17. 2026-10-20
    days on market $275,990 Active 110 DOM
18. 2026-10-19
    days on market $275,990 Active 109 DOM
19. 2026-10-18
    days on market $275,990 Active 108 DOM
20. 2026-10-17
    days on market $275,990 Active 107 DOM
21. 2026-10-16
    days on market $275,990 Active 106 DOM
22. 2026-10-15
    days on market $275,990 Active 105 DOM
23. 2026-10-14
    days on market $275,990 Active 104 DOM
24. 2026-10-13
    days on market $275,990 Active 103 DOM
25. 2026-10-12
    days on market $275,990 Active 102 DOM
26. 2026-10-11
    days on market $275,990 Active 101 DOM
27. 2026-10-10
    days on market $275,990 Active 100 DOM
28. 2026-10-09
    days on market $275,990 Active 99 DOM
29. 2026-10-09
    days on market $275,990 Active 98 DOM
30. 2026-10-07
    days on market $275,990 Active 97 DOM
31. 2026-10-06
    days on market $275,990 Active 96 DOM
32. 2026-10-05
    days on market $275,990 Active 95 DOM
33. 2026-10-05
    days on market $275,990 Active 94 DOM
34. 2026-10-04
    days on market $275,990 Active 93 DOM
35. 2026-10-01
    days on market $275,990 Active 91 DOM
36. 2026-09-30
    days on market $275,990 Active 90 DOM
37. 2026-09-29
    days on market $275,990 Active 89 DOM
38. 2026-09-24
    days on market $275,990 Active 84 DOM
39. 2026-09-23
    days on market $275,990 Active 83 DOM
40. 2026-09-22
    days on market $275,990 Active 82 DOM
41. 2026-09-21
    days on market $275,990 Active 81 DOM
42. 2026-09-17
    days on market $275,990 Active 77 DOM
43. 2026-09-13
    days on market $275,990 Active 73 DOM
44. 2026-09-13
    days on market $275,990 Active 72 DOM
45. 2026-09-11
    days on market $275,990 Active 71 DOM
46. 2026-09-05
    days on market $275,990 Active 65 DOM
47. 2026-09-04
    days on market $275,990 Active 64 DOM
48. 2026-08-31
    days on market $275,990 Active 60 DOM
49. 2026-08-28
    days on market $275,990 Active 57 DOM
50. 2026-08-26
    days on market $275,990 Active 55 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $43,784
• − Mortgage interest: −$33,573
• − Property taxes: −$8,990
• − Insurance: −$2,997
• − Repairs & maintenance: −$3,503
• − Management: −$3,503
• − Depreciation: −$17,436
• Taxable loss: −$26,216
• Est. tax savings @ 24.0%: +$6,292
• After-tax cash flow: $-8,822/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This home is move-in ready with excellent condition and modern amenities, making it an attractive option for both resale and rental markets.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both furniture — improves the home's livability and appeal ↑

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Manatee Elementary School F FL #1,330/2,144 Nat'l #17,190/41,679 Middle Oak Hammock Middle School D- FL #340/571 Nat'l #5,398/14,009 High Riverdale High School F FL #340/667 Nat'l #9,001/17,239

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 — Verandah

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Verandah, FL
• County: Lee County · 871,946 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 1%

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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: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: List price $275,990

Exterior

• Parking: 2 total parking spaces2-car garage
• Home design: New construction plan: Imagination 2Inventory type: Plan

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area approximately 1,778 (listed)