2265 W Gulf Dr Unit 320C · Sanibel, FL 33957

$1,200,000

2 bd · 2.0 ba · 1,195 sqft · Condo public records · 16 Days on market

Built 1976 $1767/mo HOA · 10% of rent

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Why this score? — see what drove the B- 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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wake up to the magnificent views of the Gulf of Mexico from the large lanai, living room, dining and kitchen areas. Strategically positioned for gorgeous western sunsets, too. Island Beach Club consists of 75 units, just perfect for your winter retreat or an ideal income-producing vacation rental, with on-site management to care for the grounds and owners' convenience. Recently painted and a new A/C installed in 2020 with a lot of newer furniture in a pleasing coastal decor. Island Beach Club is a pet friendly condo complex with owners allowed 2 dogs. Close to fantastic shopping and restaurants, bike paths AND THE BEST shelling in the world. Community pool, shuffleboard, showers and restroom, and BBQ area round out the amenities. Don't wait to see this gulf-view unit! So close you can hear the waves!!

Key facts

• Ensuite baths
• Impact glass windows
• Laundry room

Tags

• REMODELED COASTAL RETREAT
• LAUNDRY ROOM
• ENSUITE BATHS
• WALK-IN CLOSET
• SCREENED LANAI
• IMPACT GLASS WINDOWS

Property features AI

Finance

• Financial info: Pets allowed (call/conditional), maximum 2
• HOA & community: Homeowners association (community of 75 units); Quarterly association fee; Association amenities include beach rights/access, clubhouse, barbecue and picnic area, pool, and management; Association covers management, cable TV, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, sewer, trash and water

Exterior

• Parking: Assigned covered parking; Underground parking; Attached 1-space carport; Guest parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Condo/Unit in a 4-story building; Entry on level 3; Faces east; Resale property
• Construction: Built with block, concrete and stucco; Tile roof; Raised foundation
• Exterior features: Storage; Community pool; Beachfront Gulf access; Rectangular lot; West exposure; Municipal irrigation; Has a view

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Great room (open living space)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Impact glass windows; Furnished; Breakfast bar; Open living/dining area; Tub with shower; High-speed internet available
• Laundry & utility: Washer and Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.20M).
• Recommended offer: $1.18M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.8% 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: schools A+, 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.
• Market conditions: 526 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $336k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $829k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,182,000 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.46% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.44%
• DSCR: 1.60
• GRM: 5.7

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $19,724
• Equity at exit: $178,924

10-year hold

• IRR: 11.2%
• Equity multiple: 1.89×
• Total profit: $297,433
• Equity at exit: $103,754

Cash invested: $336,000 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $17,499 medium
• Mortgage (P&I): −$6,293
• Tax est. 1.5%: −$1,500 /mo · $18,000/yr
• Insurance: −$500
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,767
• Vacancy / Maint / Mgmt: −$3,675
• Net cashflow: $3,337

Break-even live

Break-even rent $13,274

Max offer price $1,200,000

Occupancy floor 76%

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	23d	1	0.19mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	23d	1	0.26mi
1992 Roseate Ln Unit 414 Sanibel, FL	2.0	1.0	900	$1,400	$1.56	3d	1	1.02mi

HOA detail condo

• Monthly dues: $1,767 · $21,204/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $1,200,000 Active 16 DOM
2. 2026-06-17
   days on market $1,200,000 Active 15 DOM
3. 2026-06-16
   days on market $1,200,000 Active 14 DOM
4. 2026-06-15
   days on market $1,200,000 Active 13 DOM
5. 2026-06-13
   days on market $1,200,000 Active 11 DOM
6. 2026-06-10
   days on market $1,200,000 Active 8 DOM
7. 2026-06-09
   days on market $1,200,000 Active 7 DOM
8. 2026-06-08
   days on market $1,200,000 Active 6 DOM
9. 2026-06-07
   days on market $1,200,000 Active 5 DOM
10. 2026-06-03
    remarks 686-char remark
11. 2026-06-03
    listed $1,200,000 Active 1 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 27 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: $209,983
• − Mortgage interest: −$67,219
• − Property taxes: −$18,000
• − Insurance: −$11,118
• − Repairs & maintenance: −$16,799
• − Management: −$16,799
• − HOA: −$21,204
• − Depreciation: −$34,909
• Taxable income: $23,936
• Est. tax owed @ 24.0%: −$5,745
• After-tax cash flow: $34,305/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 — 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
• City population: 6,402
• Population (ZIP): 6,402

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 (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%

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

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

+410.6% since first listed

5 events — show timeline

• 2026-06-02 Listed $1,200,000 FORTMLS
• 2020-11-24 Sold (MLS) $829,000 FORTMLS
• 2020-10-08 Pending — FORTMLS
• 2020-10-07 Listed $829,000 FORTMLS
• 1989-03-01 Sold (Public Records) $235,000 Public Records

Property tax history

-16.8%/yr

Latest (2025): $789 · -0.4% YoY. Source: county tax records.