2202 SW 2nd Ter · Cape Coral, FL 33991

$250,000

3 bd · 2.0 ba · 1,712 sqft · SingleFamily public records · 18 Days on market

Built 2003 10,236 sqft lot Est $354k · 29% 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 +14.8/30.0
• 1% rule +4.7/10.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +0.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4/2/2 off Chiquita Blvd with new ceramic tile in kitchen and great room, new carpet in bedrooms, situated in a great area of the Cape across from waterfront homes. Has great curb appeal, slightly oversized lot.

Key facts

• Room for a pool
• Open concept
• Laundry in residence

Tags

• NEW ROOF
• CITY WATER SEWER UTILITIES
• VINYL PLANK FLOORING
• OPEN CONCEPT
• LAUNDRY IN RESIDENCE
• ROOM FOR A POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $2 ($30/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (3.0% below list).
• Recommended offer: $243k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Zoned schools: Gulf Elementary School (math 70% / reading 65%, grade B+, #435 of 2,144 statewide, top 21%, 1,231 students, 38% FRL); Challenger Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,124 students, 50% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL) — zoned schools average 42% FRL vs 57% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents falling (-8.6%/yr); 691 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 34% 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

• It's been on market 18 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $110k; list at $250k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,589 (3.0% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $354,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 SW 22nd Ave	0.22mi	4/2.0 (+1)	1,800 (+5%)	3mo	$400,000	$222	74
1912 SW 3rd Ter	0.39mi	4/2.0 (+1)	1,828 (+7%)	1mo	$364,875	$200	65
211 SW 26th Ave	0.47mi	3/2.0	1,797 (+5%)	10mo	$290,000	$161	61
1723 SW 3rd Ter	0.57mi	3/2.0	1,815 (+6%)	4mo	$459,900	$253	60
127 EL Dorado Blvd N	0.56mi	3/2.0	1,799 (+5%)	11mo	$285,000	$158	56
1804 SW Embers Ln	0.52mi	4/2.0 (+1)	1,650 (-4%)	13mo	$340,990	$207	54
2716 SW 2nd Ln	0.70mi	4/2.0 (+1)	1,712 (0%)	13mo	$293,900	$172	52
224 NW 23rd Ave	0.64mi	4/3.0 (+1)	1,683 (-2%)	8mo	$165,000	$98	51
1712 SW 2nd Ter	0.59mi	4/2.0 (+1)	1,642 (-4%)	14mo	$385,000	$234	49
1808 SW 2nd St	0.48mi	3/2.0	1,903 (+11%)	15mo	$515,000	$271	47
1705 SW Embers Ter	0.66mi	4/2.0 (+1)	1,810 (+6%)	10mo	$321,000	$177	46
309 NW 23rd Ave	0.73mi	4/3.0 (+1)	1,917 (+12%)	11mo	$499,000	$260	28

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: -20.0%
• Equity multiple: 0.32×
• Total profit: $-47,312
• Equity at exit: $37,276

10-year hold

• IRR: -22.4%
• Equity multiple: 0.03×
• Total profit: $-67,858
• Equity at exit: $21,615

Cash invested: $70,000 (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 33991

• Home prices YoY: -27.8%
• Rents YoY: -8.6%
• Active inventory: 691
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,426 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$432 /mo · $5,188/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $2

Break-even live

Break-even rent $2,423

Max offer price $250,000

Occupancy floor 95%

Sensitivity live

Price	-10% $144	-5% $73	+0% $2	+5% $-68	+10% $-139
Rent	-10% $-189	-5% $-93	+0% $2	+5% $98	+10% $194
Rate	-1.0pp $128	-0.5pp $66	base $2	+0.5pp $-62	+1.0pp $-128

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 SW 22nd Ct Cape Coral, FL	3.0	3.0	1910	$3,500	$1.83	25d	1	0.08mi
2251 SW 4th St Cape Coral, FL	3.0	2.0	1806	$1,595	$0.88	12d	1	0.20mi
221 SW 25th Ave Cape Coral, FL	4.0	2.5	1871	$2,600	$1.39	3d	1	0.34mi
212 SW 25th Ave Cape Coral, FL	4.0	2.0	1828	$1,850	$1.01	25d	1	0.36mi
17 El Dorado Blvd N Cape Coral, FL	3.0	2.0	1779	$2,200	$1.24	25d	1	0.42mi
2447 SW Embers Ter Cape Coral, FL	3.0	3.0	1870	$2,100	$1.12	17d	1	0.42mi
326 SW 24th Pl Cape Coral, FL	3.0	2.0	1747	$1,795	$1.03	25d	1	0.42mi
2507 Embers Pkwy W Cape Coral, FL	3.0	2.0	1777	$2,450	$1.38	25d	1	0.49mi
1900 NW Embers Ter Cape Coral, FL	4.0	3.0	2009	$2,900	$1.44	25d	1	0.53mi
1827 Embers Pkwy W Cape Coral, FL	4.0	3.0	1807	$2,500	$1.38	16d	1	0.55mi
1827 Embers Pkwy W Cape Coral, FL	4.0	3.0	1807	$2,300	$1.27	5d	1	0.55mi
233 NW 22nd Pl Cape Coral, FL	4.0	3.0	1665	$2,200	$1.32	25d	1	0.66mi
128 NW 25th Pl Cape Coral, FL	3.0	2.0	1409	$2,850	$2.02	25d	1	0.68mi
2045 NW 3rd St Cape Coral, FL	3.0	2.0	1656	$2,095	$1.27	12d	1	0.73mi
2725 SW Embers Ter Cape Coral, FL	3.0	2.0	1970	$2,100	$1.07	4d	1	0.74mi
2637 NW 1st St Cape Coral, FL	3.0	2.0	1968	$2,475	$1.26	25d	1	0.74mi
2716 NW Embers Ter Cape Coral, FL	4.0	3.0	1765	$3,000	$1.70	25d	1	0.77mi
313 El Dorado Blvd N Cape Coral, FL	3.0	2.0	1500	$2,300	$1.53	25d	1	0.78mi
231 NW 26th Ave Cape Coral, FL	3.0	2.0	1479	$2,300	$1.56	25d	1	0.79mi
2023 NW 3rd Ter Cape Coral, FL	3.0	2.0	1408	$2,150	$1.53	25d	1	0.81mi
2835 NW Embers Ter Cape Coral, FL	3.0	2.0	1667	$2,250	$1.35	16d	1	0.93mi
2032 NW 5th St Cape Coral, FL	3.0	2.0	1946	$2,200	$1.13	25d	1	0.94mi
376 Penley Lake Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1195	$2,874	$2.40	3d	87	0.95mi
305 NW 16th Pl Cape Coral, FL	3.0	2.5	1446	$2,095	$1.45	5d	1	1.01mi
512 NW 25th Ave Cape Coral, FL	3.0	2.0	1702	$2,100	$1.23	13d	1	1.05mi
416 NW 17th Ave Cape Coral, FL	3.0	2.0	1199	$2,000	$1.67	5d	1	1.06mi
3305 Grant Cove Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1061	$2,133	$2.01	3d	20	1.07mi
1400 SW 1st Ter Cape Coral, FL	3.0	2.0	1619	$1,995	$1.23	25d	1	1.07mi
606 SW 29th Ave Cape Coral, FL	3.0	1.0–2.0	995	$2,126	$2.14	3d	56	1.09mi
2837 NW 3rd St Cape Coral, FL	3.0	3.0	1700	$3,500	$2.06	25d	1	1.12mi
2837 NW 3rd St Cape Coral, FL	3.0	3.0	1700	$3,500	$2.06	23d	1	1.12mi
222 NW 28th Ct Cape Coral, FL	3.0	2.0	1116	$1,526	$1.37	12d	1	1.15mi
2710 NW 5th Ter Cape Coral, FL	4.0	2.0	1830	$1,925	$1.05	17d	1	1.16mi
532 NW 18th Ave Cape Coral, FL	3.0	2.0	1765	$2,000	$1.13	25d	1	1.17mi
2043 NW 6th Ter Cape Coral, FL	4.0	2.0	1712	$2,999	$1.75	25d	1	1.17mi
1833 SW 11th Ter Cape Coral, FL	4.0	2.0	1838	$8,000	$4.35	25d	1	1.18mi
1909 NW 6th Ter Cape Coral, FL	3.0	2.0	1828	$1,895	$1.04	5d	1	1.19mi
1909 NW 6th Ter Cape Coral, FL	4.0	2.0	1828	$1,895	$1.04	4d	1	1.19mi
1501 NW 4th St Cape Coral, FL	4.0	2.0	1809	$3,800	$2.10	5d	1	1.21mi
1214 SW Embers Ter Cape Coral, FL	4.0	2.0	1828	$1,900	$1.04	25d	1	1.23mi

Listing history 19 events

1. 2026-02-09
   status Pending
2. 2026-01-21
   listed $250,000 Active
3. 2025-10-30
   status Pending
4. 2025-10-30
   historical
5. 2025-08-11
   price $269,000
6. 2025-07-26
   price $279,000
7. 2025-07-08
   price $285,000
8. 2025-06-23
   listed $290,000 Active
9. 2013-09-17
   price $139,900 210-char remark

   Show marketing remark (210 chars)

   4/2/2 off Chiquita Blvd with new ceramic tile in kitchen and great room, new carpet in bedrooms, situated in a great area of the Cape across from waterfront homes. Has great curb appeal, slightly oversized lot.

10. 2012-10-15
    soldstatus $110,500
11. 2012-09-11
    soldstatus $81,500
12. 2012-08-28
    soldstatus $81,500
13. 2012-08-28
    price $95,000
14. 2008-01-28
    soldstatus $143,500
15. 2008-01-25
    soldstatus $143,500 210-char remark

    Show marketing remark (210 chars)

    4/2/2 off Chiquita Blvd with new ceramic tile in kitchen and great room, new carpet in bedrooms, situated in a great area of the Cape across from waterfront homes. Has great curb appeal, slightly oversized lot.

16. 2005-09-29
    soldstatus $254,000
17. 2005-01-21
    soldstatus $139,200
18. 2002-06-26
    soldstatus $4,000
19. 2002-04-23
    price $4,900

ⓘ 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: $5,188 · $432/mo
• Projected year-2 tax: $5,188 · $432/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $29,111
• − Mortgage interest: −$14,004
• − Property taxes: −$5,188
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − Depreciation: −$7,273
• Taxable loss: −$4,059
• Est. tax savings @ 24.0%: +$974
• After-tax cash flow: $1,004/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 — 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

+5002.0% since first listed

19 events — show timeline

• 2026-02-09 Pending — FORTMLS
• 2026-01-21 Listed $250,000 FORTMLS
• 2025-10-30 Pending — FORTMLS
• 2025-10-30 Listing Removed — FORTMLS
• 2025-08-11 Price Changed $269,000 FORTMLS
• 2025-07-26 Price Changed $279,000 FORTMLS
• 2025-07-08 Price Changed $285,000 FORTMLS
• 2025-06-23 Listed $290,000 FORTMLS
• 2013-09-17 Price Changed $139,900 FORTMLS
• 2012-10-15 Sold (Public Records) $110,500 Public Records
• 2012-09-11 Sold (Public Records) $81,500 Public Records
• 2012-08-28 Price Changed $95,000 FORTMLS
• 2012-08-28 Sold (MLS) $81,500 FORTMLS
• 2008-01-28 Sold (Public Records) $143,500 Public Records
• 2008-01-25 Sold (MLS) $143,500 FORTMLS
• 2005-09-29 Sold (Public Records) $254,000 Public Records
• 2005-01-21 Sold (Public Records) $139,200 Public Records
• 2002-06-26 Sold (MLS) $4,000 FORTMLS
• 2002-04-23 Price Changed $4,900 FORTMLS

Property tax history

+7.1%/yr

Latest (2025): $5,188 · -1.8% YoY. Source: county tax records.