18617/18619 Bartow Blvd · San Carlos Park, FL 33967

$349,900

4 bd · 2.0 ba · 1,800 sqft · MultiFamily · 6 Days on market

Built 1982 Fair condition 10,672 sqft lot Est $387k · 10% under

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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 +20.8/30.0
• ARV discount +11.8/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Exceptional duplex investment opportunity in the highly desirable San Carlos Park area of Fort Myers! This income-producing property features two spacious 2-bedroom, 2-bath units, each offering approximately 900 square feet of living space with strong rental demand in a prime location near Florida Gulf Coast University, Gulf Coast Town Center, Southwest Florida International Airport, and major commuter routes. Both units are currently leased with immediate cash flow potential, making this an ideal addition to an investor’s portfolio or an excellent opportunity for an owner-occupant looking to offset expenses with rental income. The property sits on an oversized lot in Flood Zone X where flood insurance is typically not required, adding long-term value and peace of mind. The duplex offers a functional layout with open living areas, tile flooring throughout, central air conditioning, private laundry areas, and ample parking. Mature landscaping and a large backyard create additional appeal for tenants, while the strong location continues to support consistent occupancy and future appreciation potential. Whether you are looking for steady rental income, a long-term hold, or a value-add opportunity in one of Southwest Florida’s most active rental corridors, this property checks all the boxes.

Key facts

• Strong rental demand
• Oversized lot
• Prime location

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• INCOME PRODUCING PROPERTY
• STRONG RENTAL DEMAND
• PRIME LOCATION
• IMMEDIATE CASH FLOW POTENTIAL
• OVERSIZED LOT

Property features AI

Finance

• Other: Property type: Residential income (duplex); Zoning: TFC-2; Living area approximately 1,800 square feet; building area approximately 1,930 square feet; Total buildings on property: 1
• Financial info: Annual net income reported as $0.00; Pro forma values listed for unit types
• HOA & community: No association

Exterior

• Parking: No designated parking listed
• Utilities: Public water; Septic tank; Cable available and connected; Broadband/high-speed internet available; Electricity available and connected; Water connected
• Home design: Duplex (residential income); Single-story; One building on the lot; Lot roughly 0.25 acre (approx. 80 x 105)
• Construction: Block and stucco construction; Shingle roof; Block foundation; Built as part of one building
• Exterior features: Enclosed rear porch; Rain gutters; Paved road access

Interior

• Kitchen: No appliance details provided
• Bedrooms: Two 2-bedroom units (each unit currently leased annually)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive. Per door: $239/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 7.9% vs local median 2.4% in San Carlos Park — 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 65/100 on livability (#662 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: amenities F, commute F, health & safety D-.
• 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: Three Oaks Elementary School (math 72% / reading 68%, grade A-, #345 of 2,144 statewide, top 17%, 1,000 students, 34% 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 42% FRL vs 57% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents falling (-5.7%/yr); 226 active listings in the ZIP; 40 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).
• At $3,665/mo this rent would consume 49% of the median local household income ($91k/yr) (locally 491% of renters already pay >50% of income on rent) — 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 $2k of loan paydown is wiped out by about $10k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $349,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.05% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $387,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19160 Miami Blvd #162	0.67mi	5/2.0 (+1)	1,648 (-8%)	16mo	$355,000	$215	36

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: -10.7%
• Equity multiple: 0.62×
• Total profit: $-36,987
• Equity at exit: $52,171

10-year hold

• IRR: -6.3%
• Equity multiple: 0.65×
• Total profit: $-34,349
• Equity at exit: $30,253

Cash invested: $97,972 (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 33967

• Home prices YoY: -29.3%
• Rents YoY: -5.7%
• Active inventory: 226
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $3,665 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$770
• Net cashflow: $477

Break-even live

Break-even rent $3,061

Max offer price $349,900

Occupancy floor 82%

Sensitivity live

Price	-10% $719	-5% $598	+0% $477	+5% $356	+10% $235
Rent	-10% $188	-5% $333	+0% $477	+5% $622	+10% $767
Rate	-1.0pp $653	-0.5pp $566	base $477	+0.5pp $387	+1.0pp $294

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,664
Total (2 units)			$3,665

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18500 Winter Haven Rd Fort Myers, FL	3.0	2.0	1523	$2,100	$1.38	21d	1	0.26mi
9980 Portofino Vineyards Dr Fort Myers, FL	3.0–4.0	2.5–3.5	2026	$4,399	$2.17	3d	56	0.31mi
9096 Frank Rd Fort Myers, FL	3.0	2.0	1258	$2,506	$1.99	14d	1	0.44mi
8418 Wren Rd Fort Myers, FL	3.0	2.0	1502	$2,246	$1.50	2d	1	0.60mi
8357 Matanzas Rd Fort Myers, FL	4.0	2.0	1828	$3,095	$1.69	24d	1	0.71mi
18015 Horseshoe Bay Cir Fort Myers, FL	3.0	2.0	1623	$3,350	$2.06	24d	1	0.71mi
9135 Astonia Way Estero, FL	4.0	2.5	2539	$3,000	$1.18	24d	1	0.72mi
8334 Robin Rd Fort Myers, FL	3.0	2.0	1272	$2,495	$1.96	24d	1	0.76mi
10040 Valiant Ct #101 Miromar Lakes, FL	3.0	2.0	1548	$4,350	$2.81	24d	1	0.86mi
10040 Valiant Ct #202 Miromar Lakes, FL	3.0	2.5	2134	$4,400	$2.06	24d	1	0.86mi
9758 Country Oaks Dr Fort Myers, FL	4.0	2.0	2006	$2,850	$1.42	24d	1	0.88mi
10085 Valiant Ct #201 Miromar Lakes, FL	3.0	2.5	2134	$8,995	$4.22	24d	1	0.90mi
17700 Middle Oak Ct Fort Myers, FL	3.0	2.0	1943	$2,800	$1.44	24d	1	0.93mi
18422 Huckleberry Rd Fort Myers, FL	3.0	2.5	2028	$2,975	$1.47	24d	1	0.96mi
8157 Albatross Rd Fort Myers, FL	4.0	2.0	1700	$3,095	$1.82	24d	1	1.05mi
8157 Albatross Rd Fort Myers, FL	4.0	2.0	1667	$3,095	$1.86	3d	1	1.05mi
19738 Tesoro Way Unit 1545812P Fort Myers, FL	3.0	2.0	1496	$3,871	$2.59	16d	1	1.07mi
9940 Estero Oaks Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1107	$2,299	$2.08	2d	14	1.09mi
8430 Southbridge Dr #3 Estero, FL	3.0	2.0	1805	$4,447	$2.46	24d	1	1.10mi
19639 Villa Rosa Loop Estero, FL	3.0	2.0	2075	$2,600	$1.25	12d	1	1.11mi
19809 Maddelena Cir Estero, FL	3.0	2.0	2348	$3,500	$1.49	24d	1	1.15mi
17579 Cherry Ridge Ln Fort Myers, FL	3.0	2.5	1707	$2,300	$1.35	24d	1	1.17mi
9600 Roundstone Cir Fort Myers, FL	4.0	3.0	1938	$2,800	$1.44	3d	1	1.18mi
9600 Roundstone Cir Fort Myers, FL	4.0	2.5	1938	$2,800	$1.44	24d	1	1.18mi
8792 Largo Mar Dr Estero, FL	4.0	3.0	2568	$8,000	$3.12	21d	1	1.19mi
17460 Oriole Rd Fort Myers, FL	3.0	2.0	1333	$2,261	$1.70	21d	1	1.21mi
17615 Brickstone Loop Fort Myers, FL	3.0	2.5	1686	$1,995	$1.18	3d	1	1.22mi
8847 Largo Mar Dr Estero, FL	3.0	2.0	2099	$4,500	$2.14	20d	1	1.23mi
9634 Roundstone Cir Fort Myers, FL	3.0	2.5	1800	$2,200	$1.22	24d	1	1.24mi
9634 Roundstone Cir Fort Myers, FL	3.0	2.5	1707	$2,200	$1.29	3d	1	1.24mi
17529 Laurel Grove Ct Fort Myers, FL	3.0	2.5	1980	$2,000	$1.01	24d	1	1.26mi
10160 Bellavista Cir #1201 Miromar Lakes, FL	3.0	2.0	1915	$12,000	$6.27	24d	1	1.28mi
17412 Oriole Rd Fort Myers, FL	3.0	2.0	1483	$2,025	$1.37	14d	1	1.30mi
18606 Cedar Dr E Fort Myers, FL	3.0	2.0	1698	$2,676	$1.58	3d	1	1.30mi
9706 Roundstone Cir Fort Myers, FL	3.0	2.5	1707	$2,075	$1.22	24d	1	1.31mi
9723 Heatherstone Lake Ct #5 Estero, FL	3.0	2.5	1766	$2,750	$1.56	24d	1	1.33mi
9701 Roundstone Cir Fort Myers, FL	3.0	2.5	1938	$2,300	$1.19	21d	1	1.34mi
19610 Marino Lake Cir #2904 Miromar Lakes, FL	4.0	3.0	2547	$7,500	$2.94	24d	1	1.35mi
18477 Sunflower Rd Fort Myers, FL	3.0	2.0	2120	$2,100	$0.99	16d	1	1.36mi
18477 Sunflower Rd Fort Myers, FL	3.0	2.0	1548	$2,100	$1.36	21d	1	1.36mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $349,900 Pending 6 DOM
2. 2026-06-10
   days on market $349,900 Active 4 DOM
3. 2026-06-09
   days on market $349,900 Active 3 DOM
4. 2026-06-08
   days on market $349,900 Active 2 DOM
5. 2026-06-07
   remarks 693-char remark
6. 2026-06-07
   listed $349,900 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $43,980
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,518
• − Management: −$3,518
• − Depreciation: −$10,179
• Taxable income: $166
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $5,687/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

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance, with painting and landscaping improvements expected to significantly enhance its resale and rental value.

Repairs flagged

• Minor Landscaping — Overgrown vegetation needs trimming
• Minor Exterior paint — Paint appears faded in some areas

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Well-maintained landscaping increases curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown vegetation needs trimming	Minor	$500–3,000
Exterior paint · Paint appears faded in some areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Well-maintained landscaping increases curb appeal and property value ↑

ⓘ 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 — San Carlos Park

• Score: 65/100
• State rank: #662
• US rank: #13354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Carlos Park, FL
• County: Lee County · 788,662 people
• City population: 27,337
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 28,341
• Household income: $90,519
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 491.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 23% Two or more races 16% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 4% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, Vietnam
• Languages at home: 79% English-only · Spanish 16% Other Indo-European 1% Vietnamese 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: ▼ -123.07%
• Current HPI: 296.5923
• Rent YoY: ▼ -5.68%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-06 Listed $349,900 Stellar MLS as Distributed by MLS Grid
• 2026-06-05 Listed $349,900 FORTMLS