826/828 Diplomat Pkwy E · Cape Coral, FL 33909

$529,900

12 bd · 8.0 ba · 2,498 sqft · MultiFamily · 105 Days on market

Built 2026 Excellent condition ↓ 4% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.9/30.0
• Condition / age +4.8/5.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0
• 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

New construction DUPLEX in Cape Coral near Diplomat Pkwy. Two identical units featuring 3 bedrooms and 2 bathrooms each, modern finishes, open floor plans, and separate utilities. Vacant and ready for new owner. Excellent rental potential. No HOA. Ideal for investors or owner-occupants.

Key facts

• Separate utilities
• Modern finishes
• 6 parking spots

Tags

• BRAND-NEW CONSTRUCTION
• MODERN FINISHES
• OPEN-CONCEPT LIVING AREAS
• SEPARATE UTILITIES
• VACANT AND MOVE-IN READY
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Financial info: Property configured as 2 units (multifamily); Units unfurnished; No current rent listed

Exterior

• Parking: 6 parking spaces; Garage parking (serving units)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story property; New construction; R3-D zoning
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Refrigerator included
• Bedrooms: Total of 6 bedrooms across 2 units
• Flooring: Tile
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Impact glass windows; Tile flooring

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $530k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-802 ($-10k/yr) — negative. Per door: $-401/mo.
• To cash-flow at today's rent, offer at most $414k (21.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $362k (31.7% below list).
• Recommended offer: $362k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 4.5% 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.
• 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 (-5.6%/yr); 1611 active listings in the ZIP; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,620/mo this rent would consume 59% of the median local household income ($73k/yr) (locally 1657% 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 $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 105 days — a 9% lower offer ($482k) is reasonable based on typical stale-listing flexibility.
• 3 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $362,000 (31.7% 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 105 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.68% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.49%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: 0.01×
• Total profit: $-147,515
• Equity at exit: $79,010

10-year hold

• IRR: -53.7%
• Equity multiple: -0.58×
• Total profit: $-235,021
• Equity at exit: $45,816

Cash invested: $148,372 (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 33909

• Home prices YoY: -23.1%
• Rents YoY: -5.6%
• Active inventory: 1611
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $3,620 high
• Mortgage (P&I): −$2,779
• Tax est. 1.5%: −$662 /mo · $7,948/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $-802

Break-even live

Break-even rent $4,635

Max offer price $413,818

Occupancy floor —

Sensitivity live

Price	-10% $-436	-5% $-619	+0% $-802	+5% $-985	+10% $-1,168
Rent	-10% $-1,088	-5% $-945	+0% $-802	+5% $-659	+10% $-516
Rate	-1.0pp $-535	-0.5pp $-667	base $-802	+0.5pp $-940	+1.0pp $-1,079

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,620
Total (2 units)			$3,620

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: $132,475
• Closing costs: $15,897
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $529,900 Active 105 DOM
2. 2026-06-22
   days on market $529,900 Active 104 DOM
3. 2026-06-17
   days on market $529,900 Active 100 DOM
4. 2026-06-16
   days on market $529,900 Active 99 DOM
5. 2026-06-15
   days on market $529,900 Active 98 DOM
6. 2026-06-13
   days on market $529,900 Active 96 DOM
7. 2026-06-10
   days on market $529,900 Active 93 DOM
8. 2026-06-09
   days on market $529,900 Active 92 DOM
9. 2026-06-07
   days on market $529,900 Active 90 DOM
10. 2026-06-02
    days on market $529,900 Active 85 DOM
11. 2026-06-01
    days on market $529,900 Active 84 DOM
12. 2026-06-01
    days on market $529,900 Active 83 DOM
13. 2026-04-23
    price $529,900 287-char remark

    Show marketing remark (449 chars)

    Brand-new construction duplex in Cape Coral. Each unit features 3 bedrooms and 2 bathrooms, with modern finishes, open-concept living areas, and separate utilities for added convenience. The property is vacant and move-in ready, making it perfect for immediate occupancy or rental income. Excellent investment opportunity with strong rental potential and no HOA. Ideal for investors or owner-occupants looking to live in one unit and rent the other.

14. 2026-04-23
    price $529,900 449-char remark

    Show marketing remark (449 chars)

    Brand-new construction duplex in Cape Coral. Each unit features 3 bedrooms and 2 bathrooms, with modern finishes, open-concept living areas, and separate utilities for added convenience. The property is vacant and move-in ready, making it perfect for immediate occupancy or rental income. Excellent investment opportunity with strong rental potential and no HOA. Ideal for investors or owner-occupants looking to live in one unit and rent the other.

15. 2026-04-23
    price $529,900

    Show marketing remark (449 chars)

    Brand-new construction duplex in Cape Coral. Each unit features 3 bedrooms and 2 bathrooms, with modern finishes, open-concept living areas, and separate utilities for added convenience. The property is vacant and move-in ready, making it perfect for immediate occupancy or rental income. Excellent investment opportunity with strong rental potential and no HOA. Ideal for investors or owner-occupants looking to live in one unit and rent the other.

16. 2026-03-09
    listed $549,900 Active 449-char remark

    Show marketing remark (449 chars)

    Brand-new construction duplex in Cape Coral. Each unit features 3 bedrooms and 2 bathrooms, with modern finishes, open-concept living areas, and separate utilities for added convenience. The property is vacant and move-in ready, making it perfect for immediate occupancy or rental income. Excellent investment opportunity with strong rental potential and no HOA. Ideal for investors or owner-occupants looking to live in one unit and rent the other.

17. 2026-03-09
    listed $549,900 Active

    Show marketing remark (449 chars)

    Brand-new construction duplex in Cape Coral. Each unit features 3 bedrooms and 2 bathrooms, with modern finishes, open-concept living areas, and separate utilities for added convenience. The property is vacant and move-in ready, making it perfect for immediate occupancy or rental income. Excellent investment opportunity with strong rental potential and no HOA. Ideal for investors or owner-occupants looking to live in one unit and rent the other.

18. 2026-03-05
    listed $549,900 Active 287-char remark

    Show marketing remark (287 chars)

    New construction DUPLEX in Cape Coral near Diplomat Pkwy. Two identical units featuring 3 bedrooms and 2 bathrooms each, modern finishes, open floor plans, and separate utilities. Vacant and ready for new owner. Excellent rental potential. No HOA. Ideal for investors or owner-occupants.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $43,440
• − Mortgage interest: −$29,683
• − Property taxes: −$7,948
• − Insurance: −$2,650
• − Repairs & maintenance: −$3,475
• − Management: −$3,475
• − Depreciation: −$15,415
• Taxable loss: −$19,206
• Est. tax savings @ 24.0%: +$4,610
• After-tax cash flow: $-5,017/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 · 14 photos

Excellent 95/100 None rehab

This brand-new construction duplex in Cape Coral is move-in ready with modern finishes and open-concept living areas. The property is ideal for investors or owner-occupants looking for a turnkey investment opportunity.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Interior decor — Adding modern decor can enhance the home's appeal and make it more attractive to buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Interior decor — Adding modern decor can enhance the home's appeal and make it more attractive to buyers and renters. ↑

ⓘ 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): 40,231
• Household income: $73,053
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1657.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 56% Hispanic / Latino 36% Two or more races 24% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 7% Cuban 14% Dominican 4%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 27% Other Indo-European 1% German/W. Germanic 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: ▼ -94.24%
• Current HPI: 313.8761
• Rent YoY: ▼ -5.60%
• 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

-3.6% since first listed

6 events — show timeline

• 2026-04-23 Price Changed $529,900 NAPLESMLS
• 2026-04-23 Price Changed $529,900 Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $529,900 MARMLS
• 2026-03-09 Listed $549,900 MARMLS
• 2026-03-09 Listed $549,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Listed $549,900 NAPLESMLS