1840 NW 19th Ave · Cape Coral, FL 33993

$304,990

3 bd · 2.0 ba · 1,469 sqft · Land · 3 Days on market

Built 2026 10,018 sqft lot

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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).

• Cash flow +11.6/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location minutes to nearby shopping, restaurants, schools, Matlacha and Pine Island. Not in a Flood Zone.

Key facts

• Covered lanai
• Open-concept living
• 0.23 acre lot

Tags

• OPEN-CONCEPT LIVING
• SMART SPLIT-BEDROOM LAYOUT
• SOARING VAULTED CEILING
• LARGE FREESTANDING ISLAND
• COVERED LANAI
• PRIVATE PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $305k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (29.2% below list).
• Recommended offer: $216k (29.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (-5.5%/yr); 2671 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 3 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.
• Current owner paid $33k; list at $305k implies a 821% 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; moderate wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,908 (29.2% 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: 0.71% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• GRM: 11.8

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: -23.1%
• Equity multiple: 0.23×
• Total profit: $-66,128
• Equity at exit: $45,475

10-year hold

• IRR: -26.7%
• Equity multiple: -0.12×
• Total profit: $-95,722
• Equity at exit: $26,370

Cash invested: $85,397 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2671
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,159 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$74 /mo · $887/yr
• Insurance: −$127
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $-161

Break-even live

Break-even rent $2,363

Max offer price $276,521

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-75	+0% $-161	+5% $-247	+10% $-334
Rent	-10% $-332	-5% $-246	+0% $-161	+5% $-76	+10% $9
Rate	-1.0pp $-8	-0.5pp $-84	base $-161	+0.5pp $-240	+1.0pp $-321

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: $76,248
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1823 NW 19th Ave Cape Coral, FL	4.0	2.0	1712	$1,850	$1.08	25d	1	0.10mi
1809 NW 17th Ter Cape Coral, FL	3.0	2.0	1750	$1,980	$1.13	25d	1	0.24mi
2124 NW 18th Ave Cape Coral, FL	3.0	2.0	1556	$2,000	$1.29	21d	1	0.29mi
2014 NW 16th Pl Cape Coral, FL	4.0	2.0	1712	$1,701	$0.99	16d	1	0.33mi
2105 NW 22nd Ave Cape Coral, FL	4.0	2.0	1833	$2,265	$1.24	16d	1	0.40mi
2206 NW 17th Pl Cape Coral, FL	4.0	2.0	1779	$2,075	$1.17	25d	1	0.44mi
2216 NW 18th Ter Cape Coral, FL	3.0	2.0	1548	$1,816	$1.17	16d	1	0.46mi
1822 Diplomat Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,145	$1.20	25d	1	0.49mi
1818 Diplomat Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,025	$1.13	25d	1	0.49mi
1427 NW 20th St Cape Coral, FL	4.0	2.0	1617	$1,895	$1.17	18d	1	0.55mi
2152 NW 22nd Pl Cape Coral, FL	3.0	2.0	1418	$2,550	$1.80	13d	1	0.58mi
2423 NW 19th Pl Cape Coral, FL	4.0	2.0	1829	$1,761	$0.96	12d	1	0.65mi
1731 NW 14th St Cape Coral, FL	4.0	2.0	1337	$1,866	$1.40	5d	1	0.70mi
1926 NW 15th St Cape Coral, FL	3.0	2.0	1461	$2,100	$1.44	12d	1	0.72mi
1719 NW 25th Ln Cape Coral, FL	4.0	2.0	1829	$2,291	$1.25	5d	1	0.88mi
1917 NW 12th Ave Cape Coral, FL	3.0	2.0	1528	$2,200	$1.44	25d	1	0.89mi
1243 NW 22nd Ave Cape Coral, FL	3.0	2.0	1274	$2,195	$1.72	16d	1	0.91mi
1907 NW 26th St Cape Coral, FL	3.0	2.0	1842	$2,200	$1.19	16d	1	0.91mi
1150 NW 19th Pl Cape Coral, FL	4.0	2.0	1833	$1,895	$1.03	4d	1	0.93mi
1137 NW 19th Ave Cape Coral, FL	4.0	2.0	1771	$2,215	$1.25	16d	1	0.97mi
1212 Chiquita Blvd N Cape Coral, FL	3.0	2.0	1672	$2,100	$1.26	25d	1	0.98mi
1129 NW 20th Ave Cape Coral, FL	4.0	2.0	1828	$2,180	$1.19	23d	1	1.02mi
1129 NW 20th Ave Cape Coral, FL	4.0	2.0	1828	$2,200	$1.20	25d	1	1.02mi
1818 NW 27th Ter Cape Coral, FL	4.0	2.0	1665	$1,975	$1.19	5d	1	1.02mi
2507 NW 25th St Cape Coral, FL	4.0	2.0	1842	$2,200	$1.19	16d	1	1.03mi
2227 NW 11th Ct Cape Coral, FL	4.0	2.0	1650	$1,895	$1.15	25d	1	1.04mi
2511 NW 25th St Cape Coral, FL	4.0	2.0	1842	$2,200	$1.19	16d	1	1.04mi
1026 NW 21st Ter Cape Coral, FL	4.0	2.0	1760	$1,825	$1.04	5d	1	1.05mi
2538 NW 24th Pl Cape Coral, FL	4.0	2.0	1565	$1,950	$1.25	5d	1	1.09mi
1023 NW 22nd Ter Cape Coral, FL	3.0	2.0	1469	$1,831	$1.25	16d	1	1.11mi
2630 NW 23rd Ave Cape Coral, FL	3.0	2.0	1515	$2,299	$1.52	25d	1	1.11mi
2329 NW 27th Ave Cape Coral, FL	3.0	2.0	1761	$2,300	$1.31	18d	1	1.12mi
1101 NW 19th Pl Cape Coral, FL	4.0	2.0	1711	$1,900	$1.11	5d	1	1.12mi
1108 NW 21st Pl Cape Coral, FL	3.0	2.0	1666	$2,060	$1.24	25d	1	1.12mi
1426 NW 12th St Cape Coral, FL	3.0	2.0	1455	$1,699	$1.17	23d	1	1.13mi
1426 NW 12th St Cape Coral, FL	3.0	2.0	1455	$1,699	$1.17	16d	1	1.13mi
1426 NW 12th St Cape Coral, FL	3.0	2.0	1455	$1,699	$1.17	12d	1	1.13mi
2103 NW 10th Ave Cape Coral, FL	3.0	2.0	1455	$2,200	$1.51	25d	1	1.18mi
2838 NW 19th Pl Cape Coral, FL	4.0	2.0	1650	$1,845	$1.12	25d	1	1.21mi
2901 NW 18th Pl Cape Coral, FL	3.0	2.0	1555	$2,190	$1.41	15d	1	1.23mi

Listing history 8 events

1. 2026-03-16
   status Pending
2. 2026-03-13
   listed $304,990 Active
3. 2025-10-07
   soldstatus $33,100
4. 2025-10-06
   soldstatus $33,100 Closed 111-char remark

   Show marketing remark (111 chars)

   Great location minutes to nearby shopping, restaurants, schools, Matlacha and Pine Island. Not in a Flood Zone.

5. 2025-09-01
   status Pending 111-char remark

   Show marketing remark (111 chars)

   Great location minutes to nearby shopping, restaurants, schools, Matlacha and Pine Island. Not in a Flood Zone.

6. 2025-08-29
   listed $38,000 Active 111-char remark

   Show marketing remark (111 chars)

   Great location minutes to nearby shopping, restaurants, schools, Matlacha and Pine Island. Not in a Flood Zone.

7. 2017-03-29
   soldstatus $15,900
8. 2016-12-27
   soldstatus $16,000

ⓘ 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: $887 · $74/mo
• Projected year-2 tax: $2,531 · $211/mo
• Expected delta: +$1,645/yr (+$137/mo · 185.5%)

ⓘ 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 (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $25,909
• − Mortgage interest: −$17,084
• − Property taxes: −$887
• − Insurance: −$2,322
• − Repairs & maintenance: −$2,073
• − Management: −$2,073
• − Depreciation: −$8,872
• Taxable loss: −$7,402
• Est. tax savings @ 24.0%: +$1,777
• After-tax cash flow: $-157/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): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+1806.2% since first listed

8 events — show timeline

• 2026-03-16 Pending — FORTMLS
• 2026-03-13 Listed $304,990 FORTMLS
• 2025-10-07 Sold (Public Records) $33,100 Public Records
• 2025-10-06 Sold (MLS) $33,100 FORTMLS
• 2025-09-01 Pending — FORTMLS
• 2025-08-29 Listed $38,000 FORTMLS
• 2017-03-29 Sold (Public Records) $15,900 Public Records
• 2016-12-27 Sold (Public Records) $16,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $887 · +14.4% YoY. Source: county tax records.