2616 Somerville Loop · Cape Coral, FL 33991

$279,900

2 bd · 2.0 ba · 1,650 sqft · SingleFamily

Built 2006 Good condition Est $391k · 28% under

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Why this score? — see what drove the D+ 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 +15.0/15.0
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +0.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Why make SOMERVILLE at SANDOVAL your new home? Here& apos; s why! Within this well-established community of 172 condominiums in Somerville Loop and 1,490 single family homes within the community, you simply won& apos; t find anything like it in Cape Coral. Looking for that ultimate tropical lifestyle? Somerville at Sandoval offers a remarkable array of CLUBS, SPECIAL EVENTS and LIFESTYLE ACTIVITIES for all ages. The Somerville condos are a FAMILY & amp; PET FRIENDLY (2 dog parks!) neighborhood with its own PRIVATE POOL & amp; HOT TUB. Of course, Somerville residents have access to all of Sandoval& apos; s expansive array of amenities. There is no need to go on a vacatio

Key facts

• Built 2006

🏷️ Possibly a rental listed for sale. The $279,900 price doesn't fit this home's estimated sale value (~$391,050) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-24 ($-292/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (10.6% below list).
• Recommended offer: $250k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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 falling (-8.6%/yr); 686 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 36% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,180 (10.6% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $391,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2527 Blackburn Cir	0.36mi	3/2.0 (+1)	1,792 (+9%)	2mo	$359,000	$200	62
2525 SW 24th Ct	0.42mi	3/2.0 (+1)	1,702 (+3%)	12mo	$390,000	$229	60
2652 SW 29th Ave	0.61mi	3/2.0 (+1)	1,698 (+3%)	4mo	$327,500	$193	58
2535 Woodbourne Pl	0.49mi	3/2.0 (+1)	1,507 (-9%)	1mo	$380,000	$252	56
2835 SW 26th Pl	0.70mi	3/2.0 (+1)	1,648 (-0%)	8mo	$457,000	$277	56
2710 Surfside Blvd	0.60mi	3/2.0 (+1)	1,697 (+3%)	9mo	$565,000	$333	55
2492 Hopefield Ct	0.70mi	3/2.0 (+1)	1,726 (+5%)	6mo	$329,000	$191	49
2523 Blackburn Cir	0.38mi	3/2.0 (+1)	1,792 (+9%)	20mo	$424,000	$237	47
2520 Hopefield Ct	0.69mi	3/2.0 (+1)	1,507 (-9%)	7mo	$350,000	$232	43
2428 Miracle	0.32mi	3/2.0 (+1)	1,886 (+14%)	16mo	$498,000	$264	43
2313 SW 27th Ter	0.68mi	3/2.0 (+1)	1,796 (+9%)	13mo	$400,000	$223	38
2707 SW 27th St	0.50mi	3/2.0 (+1)	1,850 (+12%)	21mo	$455,000	$246	34

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: -20.4%
• Equity multiple: 0.31×
• Total profit: $-54,161
• Equity at exit: $41,734

10-year hold

• IRR: -22.6%
• Equity multiple: 0.02×
• Total profit: $-77,175
• Equity at exit: $24,201

Cash invested: $78,372 (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 33991

• Home prices YoY: -27.8%
• Rents YoY: -8.6%
• Active inventory: 686
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-24

Break-even live

Break-even rent $2,533

Max offer price $276,375

Occupancy floor 96%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2616 Somerville Loop #2108 Cape Coral, FL	2.0	2.0	1650	$2,100	$1.27	23d	1	0.03mi
2616 Somerville Loop #2107 Cape Coral, FL	2.0	2.0	1373	$1,700	$1.24	23d	1	0.03mi
2627 Somerville Loop #608 Cape Coral, FL	2.0	2.0	1650	$4,400	$2.67	23d	1	0.11mi
2430 Verdmont Ct Cape Coral, FL	3.0	2.0	1694	$2,500	$1.48	15d	1	0.27mi
2454 Blackburn Cir Cape Coral, FL	3.0	2.0	1696	$2,650	$1.56	23d	1	0.29mi
2535 SW 28th Pl Cape Coral, FL	3.0	2.0	1452	$5,500	$3.79	23d	1	0.44mi
2919 SW 25th St Cape Coral, FL	3.0	2.0	1394	$3,100	$2.22	23d	1	0.48mi
2919 SW 25th St Cape Coral, FL	3.0	2.0	1394	$2,900	$2.08	21d	1	0.48mi
2200 Oasis Palm Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1076	$1,659	$1.54	2d	19	0.60mi
2427 Woodbourne Pl Cape Coral, FL	3.0	2.0	1507	$2,300	$1.53	15d	1	0.62mi
2305 SW 19th Pl Cape Coral, FL	3.0	2.0	1521	$4,975	$3.27	23d	1	0.93mi
2513 SW 31st St Cape Coral, FL	3.0	2.0	1428	$1,816	$1.27	21d	1	0.96mi
1825 SW 25th St Cape Coral, FL	3.0	2.0	1785	$1,950	$1.09	3d	1	0.99mi
2649 SW 32nd St Cape Coral, FL	3.0	2.0	1864	$2,750	$1.48	23d	1	1.10mi
2609 Clairfont Ct Cape Coral, FL	3.0	2.0	1726	$2,800	$1.62	23d	1	1.11mi
1726 SW 22nd St Cape Coral, FL	3.0	2.0	1283	$1,920	$1.50	3d	1	1.11mi
2310 SW 17th Pl Cape Coral, FL	1.0–2.0	1.0–2.0	1011	$2,000	$1.98	2d	9	1.11mi
3322 Oasis Blvd Cape Coral, FL	3.0	2.0	1415	$3,200	$2.26	23d	1	1.36mi
2005 Chiquita Blvd S Cape Coral, FL	3.0	2.0	1200	$1,600	$1.33	3d	1	1.43mi
1704 SW 17th Ave Cape Coral, FL	3.0	3.0	2140	$8,000	$3.74	23d	1	1.44mi
3433 SW 27th Ave Cape Coral, FL	3.0	2.0	2148	$6,010	$2.80	23d	1	1.49mi
1916 SW 15th Pl Cape Coral, FL	3.0	2.0	1200	$1,549	$1.29	19d	1	1.49mi

Listing history 2 events

1. 2026-06-16
   remarks 679-char remark
2. 2026-06-16
   listed $279,900 Under Contract

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 23 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: $30,022
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$2,197
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$8,143
• Taxable loss: −$4,999
• Est. tax savings @ 24.0%: +$1,200
• After-tax cash flow: $907/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 · 2 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a fresh exterior paint job and well-maintained landscaping, making it a great candidate for both resale and rental.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value
• Both HVAC maintenance — Ensures comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both HVAC maintenance — Ensures comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 27,725
• Household income: $84,470
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 760.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 20% Two or more races 14% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Cuban 6%
• Common ancestry: Romanian 5% Lithuanian 3% Italian 3%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▼ -108.25%
• Current HPI: 281.0735
• Rent YoY: ▼ -8.55%
• 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

1 event — show timeline

• 2026-05-26 Listed $279,900 FSBO.com