10109 Colonial Country Club Blvd #2404 · Fort Myers, FL 33913

$199,000

2 bd · 2.0 ba · 1,116 sqft · Condo public records · 220 Days on market

Built 2003 $908/mo HOA · 20% of rent ↓ 22% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TURNKEY FURNISHED bottom floor condo boasts beautiful FLORIDA SUNRISES. METICULOUS HOMEOWNER HAS ADDED MANY UPGRADES TO THIS HOME! * * New 2022 Gorgeous 20 inch tile throughout living, dining, bedrooms, and closets * * New 2022 Master shower beautifully remodeled with pebble flooring, new fixtures, and glass doors. Sink faucets also replaced. * * New 2022 Entire condo freshly painted. * * New 2022 Fabric vertical blinds at sliders * * New 2022 Dryer vent and air ducts professionally cleaned. * * NEW 2022 New smoke detectors. All windows and lanai screen have been rescreened. Additional electric outlet added to the hardware closet. Refrigerator replumbed with on/off switch and metal line. Covered parking with shed for bikes, etc. Guest parking available. Condo sleeps 6 with the pull out couch in the living room. COUNTY CLUB LIVING WITH SO MANY THINGS TO DO! You have a choice of 3 out of 8 community pools/spas, Pickleball, Bocce ball, State of the art fitness, Beautifully renovated clubhouse with weekly entertainment, nature trails, walking paths. This home is on the pay as you play golf side of the community. Same social membership for every homeowner. CLOSE TO TWINS AND RED SOX TRAINING CAMPS.

Key facts

• Gated community
• Golf course views
• Lake vistas

Tags

• GATED COMMUNITY
• SCENIC WALKING TRAILS
• GOLF COURSE VIEWS
• LAKE VISTAS
• UPDATED MASTER BATH SUITE
• FULL GLASS WALK IN SHOWER DOOR

Property features AI

Finance

• Other: Has view
• Financial info: Pets allowed with conditions (call for details); Maximum of 3 pets, maximum pet weight 70 lbs
• HOA & community: Homeowners association (annual and quarterly fees apply); Association covers management, cable TV, internet, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, reserve fund, road maintenance, sewer, street lights, trash and water; Community amenities include clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball, bocce court, golf course and putting greens, restaurant, business center, library, barbecue/picnic area, trails, sidewalks and on-site management; Community features: golf, gated community, tennis courts; Community size: 1,699 units

Exterior

• Parking: Assigned parking; Guest parking; Detached carport; One covered space (carport)
• Security: Gated community with guard; Security gate; Security guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Underground utilities; Irrigation with reclaimed water
• Home design: Single-story; Entry level: 1; Resale property; Block, concrete and stucco construction; Tile roof
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Patio; Shutters (manual); Lakefront; East exposure; West-facing views; Zero lot line; Private road access (privately maintained)

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Range; Refrigerator; Refrigerator with ice maker
• Bedrooms: Primary bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Furnished; Dual sinks; Living/dining room; Main level primary bedroom; Cable TV available; Walk-in closet(s); Window treatments; High speed internet available; Split bedroom floorplan; Single hung windows; Sliding windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.0% 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.
• Market conditions: Rents flat; 811 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $4,549/mo this rent would consume 49% of the median local household income ($110k/yr) (locally 276% 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 $1k of loan paydown is wiped out by about $6k 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 220 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $31k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 2.29% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.69%
• DSCR: 2.14
• GRM: 3.6

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: 2.8%
• Equity multiple: 1.10×
• Total profit: $5,787
• Equity at exit: $29,672

10-year hold

• IRR: 7.7%
• Equity multiple: 1.47×
• Total profit: $26,121
• Equity at exit: $17,206

Cash invested: $55,720 (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: 811
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $4,549 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$366 /mo · $4,398/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$908
• Vacancy / Maint / Mgmt: −$955
• Net cashflow: $766

Break-even live

Break-even rent $3,579

Max offer price $199,000

Occupancy floor 78%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	12d	1	0.06mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	0.12mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	24d	1	0.31mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	0.44mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	24d	1	0.53mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	0.53mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	24d	1	0.53mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	24d	1	0.57mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.57mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	0.59mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	24d	1	0.62mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	24d	1	0.62mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.62mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	0.63mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	0.63mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	0.68mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	24d	1	0.80mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.82mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	24d	1	0.88mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	24d	1	0.92mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	24d	1	0.93mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	24d	1	0.93mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	24d	1	0.96mi
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	24d	1	0.97mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	24d	2	1.09mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	24d	1	1.10mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	14d	1	1.33mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	24d	1	1.33mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	3d	1	1.38mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$2,606	$1.97	3d	23	1.47mi

HOA detail condo

• Monthly dues: $908 · $10,896/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-17
   days on market $199,000 Active 220 DOM
2. 2026-06-16
   days on market $199,000 Active 219 DOM
3. 2026-06-16
   days on market $199,000 Active 218 DOM
4. 2026-06-13
   days on market $199,000 Active 216 DOM
5. 2026-06-09
   days on market $199,000 Active 212 DOM
6. 2026-06-07
   days on market $199,000 Active 210 DOM
7. 2026-06-02
   days on market $199,000 Active 205 DOM
8. 2026-06-01
   days on market $199,000 Active 204 DOM
9. 2026-06-01
   days on market $199,000 Active 203 DOM
10. 2026-03-14
    price $199,000
11. 2026-02-13
    price $209,900
12. 2026-01-06
    price $214,900
13. 2025-12-08
    price $220,000
14. 2025-11-09
    listed $230,000 Active
15. 2025-08-31
    historical
16. 2025-03-14
    price $285,000
17. 2025-02-10
    listed $290,000 Active
18. 2022-04-28
    soldstatus $310,000
19. 2022-04-22
    soldstatus $310,000 Closed 1228-char remark

    Show marketing remark (1228 chars)

    TURNKEY FURNISHED bottom floor condo boasts beautiful FLORIDA SUNRISES. METICULOUS HOMEOWNER HAS ADDED MANY UPGRADES TO THIS HOME! * * New 2022 Gorgeous 20 inch tile throughout living, dining, bedrooms, and closets * * New 2022 Master shower beautifully remodeled with pebble flooring, new fixtures, and glass doors. Sink faucets also replaced. * * New 2022 Entire condo freshly painted. * * New 2022 Fabric vertical blinds at sliders * * New 2022 Dryer vent and air ducts professionally cleaned. * * NEW 2022 New smoke detectors. All windows and lanai screen have been rescreened. Additional electric outlet added to the hardware closet. Refrigerator replumbed with on/off switch and metal line. Covered parking with shed for bikes, etc. Guest parking available. Condo sleeps 6 with the pull out couch in the living room. COUNTY CLUB LIVING WITH SO MANY THINGS TO DO! You have a choice of 3 out of 8 community pools/spas, Pickleball, Bocce ball, State of the art fitness, Beautifully renovated clubhouse with weekly entertainment, nature trails, walking paths. This home is on the pay as you play golf side of the community. Same social membership for every homeowner. CLOSE TO TWINS AND RED SOX TRAINING CAMPS.

20. 2022-03-25
    status Pending 1228-char remark

    Show marketing remark (1228 chars)

    TURNKEY FURNISHED bottom floor condo boasts beautiful FLORIDA SUNRISES. METICULOUS HOMEOWNER HAS ADDED MANY UPGRADES TO THIS HOME! * * New 2022 Gorgeous 20 inch tile throughout living, dining, bedrooms, and closets * * New 2022 Master shower beautifully remodeled with pebble flooring, new fixtures, and glass doors. Sink faucets also replaced. * * New 2022 Entire condo freshly painted. * * New 2022 Fabric vertical blinds at sliders * * New 2022 Dryer vent and air ducts professionally cleaned. * * NEW 2022 New smoke detectors. All windows and lanai screen have been rescreened. Additional electric outlet added to the hardware closet. Refrigerator replumbed with on/off switch and metal line. Covered parking with shed for bikes, etc. Guest parking available. Condo sleeps 6 with the pull out couch in the living room. COUNTY CLUB LIVING WITH SO MANY THINGS TO DO! You have a choice of 3 out of 8 community pools/spas, Pickleball, Bocce ball, State of the art fitness, Beautifully renovated clubhouse with weekly entertainment, nature trails, walking paths. This home is on the pay as you play golf side of the community. Same social membership for every homeowner. CLOSE TO TWINS AND RED SOX TRAINING CAMPS.

21. 2022-03-22
    listed $284,000 Active 1228-char remark

    Show marketing remark (1228 chars)

    TURNKEY FURNISHED bottom floor condo boasts beautiful FLORIDA SUNRISES. METICULOUS HOMEOWNER HAS ADDED MANY UPGRADES TO THIS HOME! * * New 2022 Gorgeous 20 inch tile throughout living, dining, bedrooms, and closets * * New 2022 Master shower beautifully remodeled with pebble flooring, new fixtures, and glass doors. Sink faucets also replaced. * * New 2022 Entire condo freshly painted. * * New 2022 Fabric vertical blinds at sliders * * New 2022 Dryer vent and air ducts professionally cleaned. * * NEW 2022 New smoke detectors. All windows and lanai screen have been rescreened. Additional electric outlet added to the hardware closet. Refrigerator replumbed with on/off switch and metal line. Covered parking with shed for bikes, etc. Guest parking available. Condo sleeps 6 with the pull out couch in the living room. COUNTY CLUB LIVING WITH SO MANY THINGS TO DO! You have a choice of 3 out of 8 community pools/spas, Pickleball, Bocce ball, State of the art fitness, Beautifully renovated clubhouse with weekly entertainment, nature trails, walking paths. This home is on the pay as you play golf side of the community. Same social membership for every homeowner. CLOSE TO TWINS AND RED SOX TRAINING CAMPS.

22. 2015-03-02
    price $253,700
23. 2005-06-13
    soldstatus $254,000
24. 2005-06-13
    soldstatus $254,000

ⓘ 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: $4,398 · $366/mo
• Projected year-2 tax: $4,398 · $366/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $54,589
• − Mortgage interest: −$11,147
• − Property taxes: −$4,398
• − Insurance: −$6,114
• − Repairs & maintenance: −$4,367
• − Management: −$4,367
• − HOA: −$10,896
• − Depreciation: −$5,789
• Taxable income: $7,511
• Est. tax owed @ 24.0%: −$1,803
• After-tax cash flow: $7,392/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

-21.7% since first listed

15 events — show timeline

• 2026-03-14 Price Changed $199,000 FORTMLS
• 2026-02-13 Price Changed $209,900 FORTMLS
• 2026-01-06 Price Changed $214,900 FORTMLS
• 2025-12-08 Price Changed $220,000 FORTMLS
• 2025-11-09 Listed $230,000 FORTMLS
• 2025-08-31 Listing Removed — NAPLESMLS
• 2025-03-14 Price Changed $285,000 NAPLESMLS
• 2025-02-10 Listed $290,000 NAPLESMLS
• 2022-04-28 Sold (Public Records) $310,000 Public Records
• 2022-04-22 Sold (MLS) $310,000 FORTMLS
• 2022-03-25 Pending — FORTMLS
• 2022-03-22 Listed $284,000 FORTMLS
• 2015-03-02 Price Changed $253,700 FORTMLS
• 2005-06-13 Sold (Public Records) $254,000 Public Records
• 2005-06-13 Sold (MLS) $254,000 FORTMLS

Property tax history

+8.9%/yr

Latest (2025): $4,398 · -9.2% YoY. Source: county tax records.