13033 Pennington Pl #101 · Fort Myers, FL 33913

$350,000

3 bd · 3.0 ba · 1,873 sqft · Condo public records · 92 Days on market

Built 2007 $985/mo HOA · 24% of rent

---

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 +11.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• DSCR +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Are you looking at the sq feet on this first floor condo? It is a true 3/3 and you will not question this purchase at this price. Welcome to one of the best floor plans in The Plantation. This first-floor, 3-bedroom, 3-bath condo offers the largest layout built by Centex. You get space, comfort, and easy living all on one level. What You’ll Love Largest first-floor plan in The Plantation. 3 full bedrooms and 3 baths Plantation shutters throughout Light-filled living areas Peaceful spot to watch the sunrise Low condo fees — the lowest of all condo streets in the community Start your day with coffee on the lanai as the sun rises. Then head out and en

Key facts

• Plantation shutters
• Low condo fees
• $985 HOA

Tags

• LARGEST FIRST-FLOOR PLAN
• PLANTATION SHUTTERS
• LIGHT-FILLED LIVING AREAS
• LOW CONDO FEES
• RESORT-STYLE AMENITIES
• UPDATED FITNESS CENTER

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with quarterly fees; Association covers cable TV, insurance, internet, irrigation water, grounds maintenance, pest control, recreation facilities, road maintenance, street lights, and water; Community amenities include clubhouse, fitness center, pool, spa/hot tub, sauna, restaurant, private membership, golf course, putting greens, tennis courts, pickleball, bocce court, library; Gated community with street lights; 954 units in the community

Exterior

• Parking: Attached 2-car garage; Assigned parking; Driveway; Guest parking; Paved parking; Garage door opener; Two covered parking spaces
• Security: Gated community with guard; Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Irrigation water from lake
• Home design: 2-story building; Entry level: 1; Resale property; Faces west
• Construction: Tile roof; Block, concrete, and stucco construction
• Exterior features: Lanai; Porch; Screened porch; Shutters (manual); Zero lot line; Paved road access; East exposure; Has a view

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Disposal; Refrigerator; Pantry; Breakfast bar
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms; Dual sinks; Separate shower; Bathtub
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Bedroom on main level; Bathtub; Dual sinks; High ceilings; Living/dining room; Pantry; Separate shower; Cable TV available; High speed internet available; Split bedrooms; Double hung windows; Unfurnished
• Laundry & utility: Washer and dryer included; Inside laundry; Laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $324k (7.4% below list).
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 3.3% in Fort Myers — 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents flat; 821 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 44% of the median local income ($110k/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 $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

• It's been on market 92 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $225k; list at $350k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $318,500 (9.0% 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 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
8. 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.
9. 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.
10. 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: 1.17% ✓
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.22×
• Total profit: $-75,978
• Equity at exit: $52,186

10-year hold

• IRR: -32.8%
• Equity multiple: -0.19×
• Total profit: $-116,620
• Equity at exit: $30,262

Cash invested: $98,000 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 821
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,087 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$410 /mo · $4,919/yr
• Insurance: −$146
• HOA: −$985
• Vacancy / Maint / Mgmt: −$858
• Net cashflow: $-147

Break-even live

Break-even rent $4,274

Max offer price $324,000

Occupancy floor 99%

Sensitivity live

Price	-10% $51	-5% $-48	+0% $-147	+5% $-246	+10% $-345
Rent	-10% $-470	-5% $-309	+0% $-147	+5% $14	+10% $176
Rate	-1.0pp $29	-0.5pp $-58	base $-147	+0.5pp $-238	+1.0pp $-330

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13068 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$2,900	$1.82	16d	1	0.38mi
13104 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$3,100	$1.95	25d	1	0.40mi
13071 Georges Cay Pl Fort Myers, FL	3.0	3.0	1600	$3,800	$2.38	25d	1	0.41mi
12908 New Market St #201 Fort Myers, FL	3.0	2.5	2198	$3,000	$1.36	25d	1	0.44mi
10900 Legacy Gateway Cir Fort Myers, FL	1.0–3.0	1.0–2.5	1115	$2,350	$2.11	3d	36	0.57mi
10271 Glastonbury Cir #102 Fort Myers, FL	2.0	2.0	1550	$4,500	$2.90	25d	1	0.82mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$3,402	$2.58	5d	23	0.88mi
11869 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1646	$5,000	$3.04	25d	1	1.08mi
9340 Triana Ter #4 Fort Myers, FL	3.0	3.0	2563	$7,500	$2.93	25d	1	1.08mi
9221 Triana Ter #4 Fort Myers, FL	3.0	3.0	2520	$11,500	$4.56	25d	1	1.13mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	4d	1	1.16mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	25d	1	1.17mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	16d	1	1.17mi
9281 Triana Ter #1 Fort Myers, FL	3.0	2.0	1826	$8,500	$4.65	25d	1	1.17mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	25d	1	1.17mi
12531 Villagio Way Fort Myers, FL	3.0	2.0	1913	$8,500	$4.44	25d	1	1.22mi
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	25d	1	1.24mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	17d	1	1.28mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	25d	1	1.31mi
11012 Castlereagh St Fort Myers, FL	3.0	3.0	2517	$12,000	$4.77	25d	1	1.39mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	25d	1	1.42mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	25d	1	1.49mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	25d	1	1.50mi

HOA detail condo

• Monthly dues: $985 · $11,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-15
   status Pending
2. 2026-04-25
   price $350,000
3. 2026-02-12
   listed $365,000 Active
4. 2015-04-28
   soldstatus $225,000

ⓘ 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: $4,919 · $410/mo
• Projected year-2 tax: $4,919 · $410/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $49,048
• − Mortgage interest: −$19,605
• − Property taxes: −$4,919
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,924
• − Management: −$3,924
• − HOA: −$11,820
• − Depreciation: −$10,182
• Taxable loss: −$7,076
• Est. tax savings @ 24.0%: +$1,698
• After-tax cash flow: $-68/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ 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: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

+55.6% since first listed

4 events — show timeline

• 2026-05-15 Pending — FORTMLS
• 2026-04-25 Price Changed $350,000 FORTMLS
• 2026-02-12 Listed $365,000 FORTMLS
• 2015-04-28 Sold (Public Records) $225,000 Public Records

Property tax history

-2.6%/yr

Latest (2025): $4,919 · +2.1% YoY. Source: county tax records.