760 Sextant Dr #841 · Sanibel, FL 33957

$530,000

2 bd · 2.0 ba · 1,127 sqft · Condo public records · 241 Days on market

Built 1974 Excellent condition $470/sqft · 27% below area Est $836k · 37% under $1397/mo HOA · 21% 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 +15.7/30.0
• ARV discount +15.0/15.0
• 1% rule +7.6/10.0
• Schools +6.9/10.0
• DSCR +4.8/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient 1st floor 2 bedrm with glass enclosed tiled dining lanai overlooking the bay in Sanibel's waterfront peninsula, Mariner Pointe. Clean as a whistle & tastefully furnished in neutral tones (some exclusions to furnishings). Updated kitchen & baths are white & bright. 2nd bedrm currently used as artist studio. With assigned parking just outside the front door & colorful garden entry walkway, this condo offers easy living as a year-'round residence, vacation retreat, or investment rental. Mariner Pointe has private fishing pier, 2 heated pools, tennis courts, shuffleboard, bbq/picnic areas, canal-side boat dockage (by annual lease), deeded beach access, & resident manager.

Key facts

• Walk-out corner unit
• $1,397 HOA
• Parking

Tags

• GROUND-LEVEL RESIDENCE
• WALK-OUT CORNER UNIT
• FABUWOOD HALLMARK CABINETRY
• POMPEII QUARTZ COUNTERTOPS
• UPGRADED LG APPLIANCES
• IMPACT-RESISTANT WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $530k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $502k (5.3% below list).
• Meets the 1% rule at list price ($7k rent vs $530k).
• Recommended offer: $466k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 2.6% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing D+, 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: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 582 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $6,697/mo this rent would consume 65% of the median local household income ($123k/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 $16k 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 241 days — a 12% lower offer ($466k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $466,400 (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 241 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
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. 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.
11. 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.
12. 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: 1.26% ✓
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 6.6

CMA / ARV

• ARV (median comp): $835,598
• List price: $530,000
• Delta: -36.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1246 Fulgur St #306	1.44mi	2/2.0	1,100 (-2%)	4mo	$590,000	$536	57
629 Nerita St Unit A	1.25mi	2/2.0	1,079 (-4%)	1mo	$525,000	$487	57
979 E Gulf Dr Unit C303	0.99mi	2/2.0	1,184 (+5%)	0mo	$740,000	$625	56
979 E Gulf Dr #191	1.09mi	2/2.0	1,184 (+5%)	1mo	$790,000	$667	56
610 Donax St #233	1.32mi	2/2.0	1,238 (+10%)	2mo	$760,000	$614	47
845 E Gulf Dr #121	0.82mi	2/2.0	983 (-13%)	2mo	$700,000	$712	42
979 E Gulf Dr #162	1.09mi	2/2.0	1,184 (+5%)	18mo	$880,000	$743	41
671 E Gulf Dr Unit 1D3	0.66mi	2/2.0	875 (-22%)	5mo	$1,050,000	$1,200	40
979 E Gulf Dr Unit D472	0.99mi	2/2.0	1,184 (+5%)	21mo	$855,000	$722	39
1299 Middle Gulf Dr #243	1.46mi	2/2.0	1,394 (+24%)	2mo	$650,000	$466	38
845 E Gulf Dr #1342	0.74mi	2/2.0	983 (-13%)	21mo	$840,000	$855	27
738 Donax St	1.16mi	2/2.0	1,380 (+22%)	20mo	$599,000	$434	24

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.35×
• Total profit: $-97,133
• Equity at exit: $79,025

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-95,679
• Equity at exit: $45,825

Cash invested: $148,400 (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 →

Active competition Active MLS

• For sale now: 0 active · 5 under contract

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

ZIP-level market 33957

• Home prices YoY: -15.7%
• Active inventory: 582
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $6,697 medium
• Mortgage (P&I): −$2,779
• Tax est. 1.5%: −$662 /mo · $7,950/yr
• Insurance: −$221
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,397
• Vacancy / Maint / Mgmt: −$1,406
• Net cashflow: $-196

Break-even live

Break-even rent $6,945

Max offer price $501,663

Occupancy floor 98%

Sensitivity live

Price	-10% $170	-5% $-13	+0% $-196	+5% $-379	+10% $-562
Rent	-10% $-725	-5% $-460	+0% $-196	+5% $69	+10% $333
Rate	-1.0pp $71	-0.5pp $-61	base $-196	+0.5pp $-333	+1.0pp $-473

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: $132,500
• Closing costs: $15,900
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
434 Lagoon Dr Sanibel, FL	2.0	2.0	1360	$6,000	$4.41	10d	1	0.52mi
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	119d	1	0.75mi
849 Beach Rd Sanibel, FL	2.0	2.0	800	$2,600	$3.25	10d	1	0.81mi

Property features AI

Finance

• Other: Pets allowed conditionally; maximum 1 pet (gentle breeds)
• Financial info: Multifamily community size: 100 units
• HOA & community: Homeowners association with quarterly feeAssociation covers management, insurance, legal/accounting, grounds maintenance, pest control, recreation facilities, trash and waterCommunity amenities include beach rights/access, boat dock/boat ramp/pier, boat slip, bike storage, barbecue/picnic area, pool, pickleball, shuffleboard, tennis courts and management

Exterior

• Parking: Assigned paved parking (one space)
• Security: Security / high impact doors
• Utilities: Public waterPublic sewerCable availableHigh-speed internet available
• Home design: Single-storyEntry level 1South-facingResale property
• Construction: Block, concrete and stucco constructionBuilt-up and flat roof
• Exterior features: Security / high impact doorsOutdoor grillTennis court(s)Private in-ground pool (community)Bay front waterfrontNorth exposureMunicipal irrigation

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Bedrooms: Includes a Florida roomIncludes guest quarters
• Flooring: TileVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barFamily/Dining roomLiving/Dining roomSeparate showerShower onlyWalk-in closet(s)Split bedroomsSingle hung windowsImpact glass windowsUnfurnished
• Laundry & utility: Washer hookup insideDryer hookup inside

HOA detail $1,397/mo · $16,764/yr condo

• Likely covers: waterpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-24
   days on market $530,000 Active 241 DOM
2. 2026-09-23
   days on market $530,000 Active 240 DOM
3. 2026-09-22
   days on market $530,000 Active 239 DOM
4. 2026-09-21
   days on market $530,000 Active 238 DOM
5. 2026-09-17
   days on market $530,000 Active 234 DOM
6. 2026-09-14
   days on market $530,000 Active 231 DOM
7. 2026-09-13
   days on market $530,000 Active 230 DOM
8. 2026-09-13
   days on market $530,000 Active 229 DOM
9. 2026-09-11
   days on market $530,000 Active 228 DOM
10. 2026-09-05
    days on market $530,000 Active 222 DOM
11. 2026-09-04
    days on market $530,000 Active 221 DOM
12. 2026-09-03
    days on market $530,000 Active 220 DOM
13. 2026-08-31
    days on market $530,000 Active 217 DOM
14. 2026-08-28
    days on market $530,000 Active 214 DOM
15. 2026-08-26
    days on market $530,000 Active 212 DOM
16. 2026-08-24
    days on market $530,000 Active 210 DOM
17. 2026-08-23
    days on market $530,000 Active 209 DOM
18. 2026-08-21
    days on market $530,000 Active 207 DOM
19. 2026-08-20
    days on market $530,000 Active 206 DOM
20. 2026-08-19
    days on market $530,000 Active 205 DOM
21. 2026-08-18
    days on market $530,000 Active 204 DOM
22. 2026-08-16
    days on market $530,000 Active 202 DOM
23. 2026-08-15
    days on market $530,000 Active 201 DOM
24. 2026-08-13
    days on market $530,000 Active 199 DOM
25. 2026-08-11
    days on market $530,000 Active 197 DOM
26. 2026-08-10
    days on market $530,000 Active 196 DOM
27. 2026-08-09
    days on market $530,000 Active 195 DOM
28. 2026-08-07
    days on market $530,000 Active 193 DOM
29. 2026-08-06
    days on market $530,000 Active 192 DOM
30. 2026-08-05
    days on market $530,000 Active 191 DOM
31. 2026-08-04
    days on market $530,000 Active 190 DOM
32. 2026-07-30
    days on market $530,000 Active 184 DOM
33. 2026-07-28
    days on market $530,000 Active 183 DOM
34. 2026-07-26
    days on market $530,000 Active 181 DOM
35. 2026-07-24
    days on market $530,000 Active 179 DOM
36. 2026-07-23
    days on market $530,000 Active 178 DOM
37. 2026-07-22
    days on market $530,000 Active 177 DOM
38. 2026-07-21
    days on market $530,000 Active 176 DOM
39. 2026-07-18
    days on market $530,000 Active 173 DOM
40. 2026-07-18
    days on market $530,000 Active 172 DOM
41. 2026-07-16
    days on market $530,000 Active 171 DOM
42. 2026-07-15
    days on market $530,000 Active 170 DOM
43. 2026-07-13
    days on market $530,000 Active 168 DOM
44. 2026-07-13
    days on market $530,000 Active 167 DOM
45. 2026-07-12
    days on market $530,000 Active 166 DOM
46. 2026-07-10
    days on market $530,000 Active 165 DOM
47. 2026-07-10
    days on market $530,000 Active 164 DOM
48. 2026-07-07
    days on market $530,000 Active 162 DOM
49. 2026-07-06
    days on market $530,000 Active 161 DOM
50. 2026-07-05
    days on market $530,000 Active 160 DOM

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 25 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: $80,361
• − Mortgage interest: −$29,688
• − Property taxes: −$7,950
• − Insurance: −$7,768
• − Repairs & maintenance: −$6,429
• − Management: −$6,429
• − HOA: −$16,764
• − Depreciation: −$15,418
• Taxable loss: −$10,086
• Est. tax savings @ 24.0%: +$2,421
• After-tax cash flow: $71/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 · 9 photos

Excellent 95/100 None rehab

This beautifully reimagined ground-level residence at Mariner Pointe on Sanibel Island is in excellent condition with no visible repairs needed. It offers a rare combination of quality craftsmanship, refined finishes, and an exceptional location within the community.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and adds value for both resale and rental ↑
• Both Painting exterior and interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and adds value for both resale and rental ↑

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary The Sanibel School A+ FL #5/2,144 Nat'l #94/41,679 High Cypress Lake High School D- FL #228/667 Nat'l #6,809/17,239

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

C Composite livability gradescore 67/100

Livability — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• County: Lee · 871,946 people
• City population: 6,402
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 6,402
• Household income: $122,730
• Rent vs Own: 8.4% rent · 91.6% own
• Severe rent burden: 3% 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: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% French/Haitian/Cajun 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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• 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

• Other: Pets allowed conditionally; maximum 1 pet (gentle breeds)
• Financial info: Multifamily community size: 100 units
• HOA & community: Homeowners association with quarterly feeAssociation covers management, insurance, legal/accounting, grounds maintenance, pest control, recreation facilities, trash and waterCommunity amenities include beach rights/access, boat dock/boat ramp/pier, boat slip, bike storage, barbecue/picnic area, pool, pickleball, shuffleboard, tennis courts and management

Exterior

• Parking: Assigned paved parking (one space)
• Security: Security / high impact doors
• Utilities: Public waterPublic sewerCable availableHigh-speed internet available
• Home design: Single-storyEntry level 1South-facingResale property
• Construction: Block, concrete and stucco constructionBuilt-up and flat roof
• Exterior features: Security / high impact doorsOutdoor grillTennis court(s)Private in-ground pool (community)Bay front waterfrontNorth exposureMunicipal irrigation

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Bedrooms: Includes a Florida roomIncludes guest quarters
• Flooring: TileVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)
• Interior features: Breakfast barFamily/Dining roomLiving/Dining roomSeparate showerShower onlyWalk-in closet(s)Split bedroomsSingle hung windowsImpact glass windowsUnfurnished
• Laundry & utility: Washer hookup insideDryer hookup inside

Price history

+158.5% since first listed

6 events — show timeline

• 2026-01-22 Listed $530,000 FORTMLS
• 2008-04-07 Sold (Public Records) $523,000 Public Records
• 2008-04-04 Sold (MLS) $523,000 FORTMLS
• 2008-03-18 Price Changed $574,000 FORTMLS
• 1998-11-12 Sold (Public Records) $230,000 Public Records
• 1991-02-13 Sold (Public Records) $205,000 Public Records

Property tax history

-13.1%/yr

Latest (2025): $1,034 · -0.4% YoY. Source: county tax records.