760 Sextant Dr #1051 · Sanibel, FL 33957

$488,000

2 bd · 2.0 ba · 957 sqft · Condo public records · 214 Days on market

Built 1977 Excellent condition $510/sqft · 39% below area Est $803k · 39% under $1397/mo HOA · 20% of rent

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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 +20.4/30.0
• ARV discount +15.0/15.0
• 1% rule +9.0/10.0
• Schools +6.9/10.0
• DSCR +6.5/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check all the boxes with this Mariner Pointe condo - stunning bay views, direct gulf access dockage, deeded beach access, a private fishing pier, 2 tennis courts, 2 pools, shuffleboard, kayak racks and kayak float, outdoor BBQ areas, plentiful wildlife, and a convenient east-end location adjacent to the Sanibel causeway. Furnished nicely, this 2 bedroom 2 bathroom condo is on the ground level and features a walk-out screened lanai. Located on a private peninsula surrounded by water, Mariner Pointe is an amazing location and offers solid rental potential. Currently in the Sanibel Vacations rental program. Dockage includes 30 slips with water and electric and are available for long or short term rentals for owners and renters; maximum boat Length 35'.

Key facts

• Waterfront views
• Quartz countertops
• Screened lanai

Tags

• SCREENED LANAI
• WATERFRONT VIEWS
• REMODELED THROUGHOUT
• REDESIGNED KITCHEN
• ALL WOOD CABINETRY
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $488k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $488k).
• Recommended offer: $429k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.6% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing D+, amenities F, 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: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% 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 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 582 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $6,840/mo this rent would consume 67% of the median local household income ($123k/yr) — 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 $3k of loan paydown is wiped out by about $15k 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 214 days — a 12% lower offer ($429k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $100k (17%) 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; HOA is 20% of rent.
• 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $429,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
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: 1.40% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 5.9

CMA / ARV

• ARV (median comp): $803,343
• List price: $488,000
• Delta: -39.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
845 E Gulf Dr #121	0.85mi	2/2.0	983 (+3%)	2mo	$700,000	$712	59
641 Periwinkle Way Unit B5	0.34mi	2/1.0	1,000 (+4%)	22mo	$340,000	$340	54
671 E Gulf Dr Unit 1D3	0.70mi	2/2.0	875 (-9%)	5mo	$1,050,000	$1,200	49
629 Nerita St Unit A	1.25mi	2/2.0	1,079 (+13%)	1mo	$525,000	$487	43
845 E Gulf Dr #1342	0.76mi	2/2.0	983 (+3%)	21mo	$840,000	$855	43
805 E Gulf Dr Unit C-1	0.65mi	2/2.0	902 (-6%)	25mo	$365,000	$405	40
979 E Gulf Dr Unit C303	0.99mi	2/2.0	1,184 (+24%)	0mo	$740,000	$625	40
979 E Gulf Dr #191	1.10mi	2/2.0	1,184 (+24%)	1mo	$790,000	$667	39
1246 Fulgur St #306	1.44mi	2/2.0	1,100 (+15%)	4mo	$590,000	$536	36
979 E Gulf Dr #162	1.10mi	2/2.0	1,184 (+24%)	18mo	$880,000	$743	25
979 E Gulf Dr Unit D472	1.00mi	2/2.0	1,184 (+24%)	21mo	$855,000	$722	22
979 E Gulf Dr Unit C324	0.99mi	2/2.0	1,184 (+24%)	29mo	$870,000	$735	20

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-64,607
• Equity at exit: $72,762

10-year hold

• IRR: -3.7%
• Equity multiple: 0.75×
• Total profit: $-34,230
• Equity at exit: $42,193

Cash invested: $136,640 (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 →

Active competition Active MLS

• For sale now: 0 active · 5 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33957

• Home prices YoY: -15.7%
• Active inventory: 582
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $6,840 medium
• Mortgage (P&I): −$2,559
• Tax est. 1.5%: −$610 /mo · $7,320/yr
• Insurance: −$203
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,397
• Vacancy / Maint / Mgmt: −$1,437
• Net cashflow: $208

Break-even live

Break-even rent $6,577

Max offer price $488,000

Occupancy floor 92%

Sensitivity live

Price	-10% $545	-5% $377	+0% $208	+5% $39	+10% $-129
Rent	-10% $-332	-5% $-62	+0% $208	+5% $478	+10% $748
Rate	-1.0pp $454	-0.5pp $332	base $208	+0.5pp $82	+1.0pp $-47

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: $122,000
• Closing costs: $14,640
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	119d	1	0.74mi
849 Beach Rd Sanibel, FL	2.0	2.0	800	$2,600	$3.25	10d	1	0.78mi

Property features AI

Finance

• Financial info: Pets allowed conditionally (call); maximum 2 pets with 25 lb limit
• HOA & community: Homeowners association with quarterly feeAssociation covers management, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, sewer, street lights, security, trash and waterCommunity amenities include beach rights, beach access, boat dock/slip, bike storage, clubhouse, barbecue/picnic areas, pool, pickleball, shuffleboard, tennis courts and on-site managementCommunity of approximately 100 unitsCommunity features include boat facilities and street lights

Exterior

• Parking: Assigned parking (one space)
• Security: Security guardSmoke detectors
• Utilities: Public waterPublic sewerCable availableHigh-speed internet availableUnderground utilities
• Home design: Condominium/unit in a 3-story buildingEntry level: 1Faces southResale propertyWaterfront setting (bay front; across-the-road water frontage)North exposure
• Construction: Block, concrete and stucco constructionBuilt-up and flat roof
• Exterior features: Security/high impact doorsSprinkler/irrigation (municipal)PatioTennis courtsLanai/porch (screened)Community pool

Interior

• Kitchen: CooktopDishwasherFreezerDisposalMicrowaveRefrigerator
• Bedrooms: Split bedrooms layout
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)Ceiling fans
• Interior features: Impact glass windowsDual sinksFamily/dining roomKitchen islandCombined living and dining areaShower only (separate shower)Cable TV availableHigh-speed internet availableSplit bedroom floorplan
• Laundry & utility: WasherDryerInside laundry

HOA detail $1,397/mo · $16,764/yr condo

• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-24
   days on market $488,000 Active 214 DOM
2. 2026-09-23
   days on market $488,000 Active 213 DOM
3. 2026-09-22
   days on market $488,000 Active 212 DOM
4. 2026-09-21
   days on market $488,000 Active 211 DOM
5. 2026-09-17
   days on market $488,000 Active 207 DOM
6. 2026-09-14
   days on market $488,000 Active 204 DOM
7. 2026-09-13
   days on market $488,000 Active 203 DOM
8. 2026-09-13
   days on market $488,000 Active 202 DOM
9. 2026-09-11
   days on market $488,000 Active 201 DOM
10. 2026-09-05
    days on market $488,000 Active 195 DOM
11. 2026-09-04
    days on market $488,000 Active 194 DOM
12. 2026-09-03
    days on market $488,000 Active 193 DOM
13. 2026-08-31
    days on market $488,000 Active 190 DOM
14. 2026-08-28
    days on market $488,000 Active 187 DOM
15. 2026-08-26
    days on market $488,000 Active 185 DOM
16. 2026-08-24
    days on market $488,000 Active 183 DOM
17. 2026-08-23
    days on market $488,000 Active 182 DOM
18. 2026-08-21
    days on market $488,000 Active 180 DOM
19. 2026-08-20
    days on market $488,000 Active 179 DOM
20. 2026-08-19
    days on market $488,000 Active 178 DOM
21. 2026-08-18
    days on market $488,000 Active 177 DOM
22. 2026-08-16
    days on market $488,000 Active 175 DOM
23. 2026-08-15
    days on market $488,000 Active 174 DOM
24. 2026-08-13
    days on market $488,000 Active 172 DOM
25. 2026-08-11
    days on market $488,000 Active 170 DOM
26. 2026-08-10
    days on market $488,000 Active 169 DOM
27. 2026-08-09
    days on market $488,000 Active 168 DOM
28. 2026-08-07
    pricedays on market $488,000 Active 166 DOM
29. 2026-08-06
    days on market $588,000 Active 165 DOM
30. 2026-08-05
    days on market $588,000 Active 164 DOM
31. 2026-08-04
    days on market $588,000 Active 163 DOM
32. 2026-07-30
    days on market $588,000 Active 157 DOM
33. 2026-07-28
    days on market $588,000 Active 156 DOM
34. 2026-07-26
    days on market $588,000 Active 154 DOM
35. 2026-07-24
    days on market $588,000 Active 152 DOM
36. 2026-07-23
    days on market $588,000 Active 151 DOM
37. 2026-07-22
    days on market $588,000 Active 150 DOM
38. 2026-07-21
    days on market $588,000 Active 149 DOM
39. 2026-07-18
    days on market $588,000 Active 146 DOM
40. 2026-07-18
    days on market $588,000 Active 145 DOM
41. 2026-07-16
    days on market $588,000 Active 144 DOM
42. 2026-07-15
    days on market $588,000 Active 143 DOM
43. 2026-07-13
    days on market $588,000 Active 141 DOM
44. 2026-07-13
    days on market $588,000 Active 140 DOM
45. 2026-07-12
    days on market $588,000 Active 139 DOM
46. 2026-07-10
    days on market $588,000 Active 138 DOM
47. 2026-07-09
    days on market $588,000 Active 137 DOM
48. 2026-07-07
    days on market $588,000 Active 135 DOM
49. 2026-07-06
    days on market $588,000 Active 134 DOM
50. 2026-07-05
    days on market $588,000 Active 133 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 25 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: $82,086
• − Mortgage interest: −$27,336
• − Property taxes: −$7,320
• − Insurance: −$7,558
• − Repairs & maintenance: −$6,567
• − Management: −$6,567
• − HOA: −$16,764
• − Depreciation: −$14,196
• Taxable loss: −$4,222
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $3,509/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 · 9 photos

Excellent 95/100 None rehab

This move-in ready, fully renovated townhouse boasts stunning bay views and is in excellent condition with no visible repairs needed. The property is ideal for both resale and rental due to its prime location and modern updates.

Components & finishes AI

Roof metal · good Flooring hardwood Counters granite Appliances stainless steel HVAC central · new lt5

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value ↑

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary The Sanibel School A+ FL #5/2,144 Nat'l #94/41,679 High Cypress Lake High School D- FL #228/667 Nat'l #6,809/17,239

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

C Composite livability gradescore 67/100

Livability — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• County: Lee · 871,946 people
• City population: 6,402
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 6,402
• Household income: $122,730
• Rent vs Own: 8.4% rent · 91.6% own
• Severe rent burden: 3% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% French/Haitian/Cajun 1%

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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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: Pets allowed conditionally (call); maximum 2 pets with 25 lb limit
• HOA & community: Homeowners association with quarterly feeAssociation covers management, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, sewer, street lights, security, trash and waterCommunity amenities include beach rights, beach access, boat dock/slip, bike storage, clubhouse, barbecue/picnic areas, pool, pickleball, shuffleboard, tennis courts and on-site managementCommunity of approximately 100 unitsCommunity features include boat facilities and street lights

Exterior

• Parking: Assigned parking (one space)
• Security: Security guardSmoke detectors
• Utilities: Public waterPublic sewerCable availableHigh-speed internet availableUnderground utilities
• Home design: Condominium/unit in a 3-story buildingEntry level: 1Faces southResale propertyWaterfront setting (bay front; across-the-road water frontage)North exposure
• Construction: Block, concrete and stucco constructionBuilt-up and flat roof
• Exterior features: Security/high impact doorsSprinkler/irrigation (municipal)PatioTennis courtsLanai/porch (screened)Community pool

Interior

• Kitchen: CooktopDishwasherFreezerDisposalMicrowaveRefrigerator
• Bedrooms: Split bedrooms layout
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air conditioning (electric)Ceiling fans
• Interior features: Impact glass windowsDual sinksFamily/dining roomKitchen islandCombined living and dining areaShower only (separate shower)Cable TV availableHigh-speed internet availableSplit bedroom floorplan
• Laundry & utility: WasherDryerInside laundry

Price history

+226.7% since first listed

10 events — show timeline

• 2026-02-22 Listed $588,000 FORTMLS
• 2020-02-19 Sold (Public Records) $460,000 Public Records
• 2020-02-18 Sold (MLS) $460,000 FORTMLS
• 2019-12-31 Listed $499,000 FORTMLS
• 2001-11-08 Sold (Public Records) $439,000 Public Records
• 2001-11-05 Sold (MLS) $439,000 FORTMLS
• 2001-11-02 Price Changed $449,900 FORTMLS
• 2001-04-11 Sold (Public Records) $365,000 Public Records
• 1998-12-22 Sold (Public Records) $285,000 Public Records
• 1996-06-10 Sold (Public Records) $180,000 Public Records

Property tax history

-21.3%/yr

Latest (2025): $328 · +0.1% YoY. Source: county tax records.