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23731 Old Port Rd #201 🌊 Lakefront
A- Composite 80.7
Why this score? — see what drove the A- 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
  • ARV discount +14.6/15.0
  • 1% rule +10.0/10.0
  • DSCR +10.0/10.0
  • Schools +5.8/10.0
  • Livability +4.0/5.0
  • Condition / age +4.0/5.0
  • Rent growth +2.3/5.0
  • Appreciation +0.0/10.0

$295,000

23731 Old Port Rd #201 · Estero, FL 34135
3 bd · 2.0 ba · 1,292 sqft · Condo public records · 213 Days on market
Built 2000 Good condition $228/sqft · 16% below area Est $350k · 16% under · waterfront $799/mo HOA · 15% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Price REDUCED * Embrace the ultimate Florida lifestyle! This tropical turnkey 3 Bed / 2 Bed plus den END unit offers soaring 11-ft ceilings and breathtaking lake views, overlooking 3 sparkling fountains. Unit 201 is upgraded with vinyl flooring, granite countertops in the kitchen, plantation shutters all round, and convenient electric storm shutters for added peace of mind. This PRICED to SELL home is perfectly nestled in the gated, 100% lakefront Lighthouse Bay community within The Brooks, spanning 162 acres with just 654 residences for a serene low-density vibe (only 4 units per acre).

Key facts

  • Gated community
  • Wildlife preserve
  • Lake views

Tags

LAKE VIEWSELECTRIC STORM SHUTTERSGATED COMMUNITYSTOCKED LAKESWILDLIFE PRESERVECOBBLESTONE BRIDGES

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.0-bath condo listed at $295k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $1k ($17k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($5k rent vs $295k).
  • Recommended offer: $260k (12.0% below list) — sets the bar for market timing.
  • Cap rate 12.0% vs local median 3.2% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
  • 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: Pinewoods Elementary School (math 81% / reading 74%, grade A, #163 of 2,144 statewide, top 8%, 1,089 students, 25% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% 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 39% FRL vs 57% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
  • Market conditions: Rents soft (-0.6%/yr); 1075 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 120d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
  • At $5,340/mo this rent would consume 70% of the median local household income ($91k/yr) (locally 17% 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 $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.
  • At projected returns (-3.0% appreciation + 0.0% rent growth), your $83k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 213 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
  • Current owner paid $235k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $259,600 (12.0% below list)

Questions for the listing agent

  1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
  2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  3. 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?
  4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
  8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
  9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
  10. 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.
  11. 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.
  12. 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
1.81%
Cap rate
11.97%
Cash-on-cash
20.27%
DSCR
1.90
GRM
4.6

CMA / ARV

ARV (median comp)
$350,000
List price
$295,000
Delta
-15.71%
Verdict
UNDERPRICED
Comps
10 within 6.0 mi

Projected returns pro-forma

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

5-year hold
IRR
8.4%
Equity multiple
1.31×
Total profit
$25,965
Equity at exit
$43,985
10-year hold
IRR
14.2%
Equity multiple
1.95×
Total profit
$78,834
Equity at exit
$25,506

Cash invested: $82,600 (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.

Active competition Active MLS

For sale now
3 active · 2 under contract
Median asking
$429,000 ($283/sqft)
Median days on market
134 d
This list price
lowest-priced of the active set
ARV vs active asking
-4.3% vs current asking $/sqft

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

ZIP-level market 34135

Rents YoY
-0.6%
Active inventory
1075
Price-to-rent
4.6×

Monthly cashflow live

Estimated rent
$5,340 high interval (Pro) →
Mortgage (P&I)
$1,547
Tax from tax record
$354 /mo · $4,252/yr
Insurance
$123
HOA
$799
Vacancy / Maint / Mgmt
$1,121
Net cashflow
$1,395

Break-even live

Break-even rent $3,574
Max offer price $295,000
Occupancy floor 69%

Sensitivity live

Price -10% $1,562 -5% $1,479 +0% $1,395 +5% $1,312 +10% $1,228
Rent -10% $973 -5% $1,184 +0% $1,395 +5% $1,606 +10% $1,817
Rate -1.0pp $1,544 -0.5pp $1,470 base $1,395 +0.5pp $1,319 +1.0pp $1,241

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
$73,750
Closing costs
$8,850
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 19 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
10701 Halfmoon Shoal Rd #9204 Estero, FL 2.0 2.0 1292 $5,700 $4.41 78d 1 0.08mi
10701 Halfmoon Shoal Rd #9204 Estero, FL 2.0 2.0 1292 $5,700 $4.41 0d 1 0.08mi
10910 Santa Margherita Rd #102 Estero, FL 3.0 2.0 1279 $2,200 $1.72 119d 1 0.28mi
23501 Wisteria Pointe Dr #1206 Estero, FL 3.0 2.0 1560 $7,000 $4.49 119d 1 0.29mi
23810 Marbella Bay Rd #102 Estero, FL 2.0 2.0 1103 $5,000 $4.53 119d 1 0.29mi
23810 Marbella Bay Rd #102 Estero, FL 2.0 2.0 1103 $5,000 $4.53 0d 1 0.29mi
23810 Costa del Sol Rd #203 Estero, FL 2.0 2.0 1276 $2,400 $1.88 111d 1 0.31mi
10911 Santa Margherita Rd #102 Estero, FL 2.0 2.0 1279 $2,800 $2.19 119d 1 0.32mi
23821 Marbella Bay Rd #102 Estero, FL 2.0 2.0 1279 $5,750 $4.50 119d 1 0.33mi
23821 Marbella Bay Rd Ofc Season Bonita Springs, FL 2.0 2.0 1279 $2,500 $1.95 119d 1 0.33mi
23805 Clear Spring Ct #2203 Estero, FL 2.0 2.5 1656 $7,000 $4.23 9d 1 0.60mi
23785 Clear Spring Ct #2305 Estero, FL 3.0 2.0 1811 $7,500 $4.14 119d 1 0.63mi
23785 Clear Spring Ct #2305 Estero, FL 3.0 2.0 1811 $7,500 $4.14 9d 1 0.63mi
9030 Spring Run Blvd #508 Estero, FL 2.0 2.0 1333 $6,500 $4.88 119d 1 1.13mi
23541 Sandycreek Ter #806 Estero, FL 2.0 2.0 1700 $6,000 $3.53 119d 1 1.35mi
23526 Sandycreek Ter #304 Estero, FL 2.0 2.0 1368 $5,000 $3.65 9d 1 1.35mi
23591 Sandycreek Ter #1006 Estero, FL 2.0 2.0 1209 $6,000 $4.96 9d 1 1.38mi
23591 Sandycreek Ter #1006 Estero, FL 2.0 2.0 1209 $6,000 $4.96 119d 1 1.38mi
23601 Sandycreek Ter #903 Estero, FL 2.0 2.0 1246 $6,200 $4.98 6d 1 1.40mi

Property features AI

Finance

Other
Part of a larger complex with 144 units; building contains 8 units; 2 units per floor; 1 floor in this building unit count context
Financial info
Total annual recurring HOA fees and one-time fees are managed by the association
HOA & community
Mandatory HOA with professional managementQuarterly condo fee (listed)HOA maintenance covers cable, insurance, internet/Wi-Fi, irrigation water, lawn/land maintenance, legal/accounting, manager, master association fee, exterior pest control, recreation facilities, repairs, reserves, security, sewer, street lights, street maintenance, trash removal and waterCommunity amenities include clubhouse, community pool and spa, exercise room, tennis, pickleball, bocce, basketball, fishing pier, community boat dock, beach club access, restaurant, business center, library, hobby room, play area, sidewalks and streetlights

Exterior

Parking
1 assigned covered parkingDetached 1-car carportPaved driveway and paved parking
Security
Gated communityEntry keypad
Utilities
Central waterCentral sewerCable availableIrrigation with reclaimed water and lake/canal source
Home design
Residential property in a low-rise (1–3) building2-story garden apartmentZero lot lineRear exposure faces southwestPart of Lighthouse Bay at The Brooks community
Construction
Concrete block constructionStucco exterior finishMetal roofYear built 2000See remarks regarding building description
Exterior features
Pond and water features with lake viewSprinkler (automatic)Water displayShutters (electric)

Interior

Kitchen
PantryCooktop - electricSelf-cleaning ovenDishwasherMicrowaveRefrigerator/ice makerDisposal
Bedrooms
3 bedrooms with split bedroom floor plan
Flooring
CarpetVinyl
Bathrooms
2 full bathroomsMaster bath with dual sinks and shower (no tub)
Heating & cooling
Central electric heatCentral electric air conditioningCeiling fans
Interior features
Cable prewireFoyerHigh-speed internet availablePantrySmoke detectorsWalk-in closetWindow coveringsDen (study)Great roomScreened lanai/porchTurnkey furnished9 total rooms6 ceiling fans
Laundry & utility
Washer and dryer in residenceLaundry in residence

HOA detail $799/mo · $9,588/yr condo

Likely covers
electricsecurity
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-09-24
    days on market $295,000 Active 213 DOM
  2. 2026-09-23
    days on market $295,000 Active 212 DOM
  3. 2026-09-22
    days on market $295,000 Active 211 DOM
  4. 2026-09-21
    days on market $295,000 Active 210 DOM
  5. 2026-09-17
    days on market $295,000 Active 206 DOM
  6. 2026-09-14
    days on market $295,000 Active 203 DOM
  7. 2026-09-13
    days on market $295,000 Active 202 DOM
  8. 2026-09-13
    days on market $295,000 Active 201 DOM
  9. 2026-09-11
    days on market $295,000 Active 200 DOM
  10. 2026-09-05
    days on market $295,000 Active 194 DOM
  11. 2026-09-04
    days on market $295,000 Active 193 DOM
  12. 2026-09-03
    days on market $295,000 Active 192 DOM
  13. 2026-08-31
    days on market $295,000 Active 189 DOM
  14. 2026-08-28
    days on market $295,000 Active 186 DOM
  15. 2026-08-26
    days on market $295,000 Active 184 DOM
  16. 2026-08-24
    days on market $295,000 Active 182 DOM
  17. 2026-08-23
    days on market $295,000 Active 181 DOM
  18. 2026-08-21
    days on market $295,000 Active 179 DOM
  19. 2026-08-20
    days on market $295,000 Active 178 DOM
  20. 2026-08-19
    days on market $295,000 Active 177 DOM
  21. 2026-08-18
    days on market $295,000 Active 176 DOM
  22. 2026-08-16
    days on market $295,000 Active 174 DOM
  23. 2026-08-15
    days on market $295,000 Active 173 DOM
  24. 2026-08-13
    days on market $295,000 Active 171 DOM
  25. 2026-08-11
    days on market $295,000 Active 169 DOM
  26. 2026-08-10
    days on market $295,000 Active 168 DOM
  27. 2026-08-09
    days on market $295,000 Active 167 DOM
  28. 2026-08-07
    days on market $295,000 Active 165 DOM
  29. 2026-08-06
    days on market $295,000 Active 164 DOM
  30. 2026-08-05
    days on market $295,000 Active 163 DOM
  31. 2026-08-04
    days on market $295,000 Active 162 DOM
  32. 2026-07-30
    days on market $295,000 Active 156 DOM
  33. 2026-07-28
    days on market $295,000 Active 155 DOM
  34. 2026-07-26
    days on market $295,000 Active 153 DOM
  35. 2026-07-24
    days on market $295,000 Active 151 DOM
  36. 2026-07-23
    days on market $295,000 Active 150 DOM
  37. 2026-07-22
    days on market $295,000 Active 149 DOM
  38. 2026-07-21
    days on market $295,000 Active 148 DOM
  39. 2026-07-18
    days on market $295,000 Active 145 DOM
  40. 2026-07-18
    days on market $295,000 Active 144 DOM
  41. 2026-07-16
    days on market $295,000 Active 143 DOM
  42. 2026-07-15
    days on market $295,000 Active 142 DOM
  43. 2026-07-13
    days on market $295,000 Active 140 DOM
  44. 2026-07-13
    days on market $295,000 Active 139 DOM
  45. 2026-07-12
    days on market $295,000 Active 138 DOM
  46. 2026-07-10
    days on market $295,000 Active 137 DOM
  47. 2026-07-09
    days on market $295,000 Active 136 DOM
  48. 2026-07-07
    days on market $295,000 Active 134 DOM
  49. 2026-07-06
    days on market $295,000 Active 133 DOM
  50. 2026-07-05
    days on market $295,000 Active 132 DOM

ⓘ 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
$4,252 · $354/mo
Projected year-2 tax
$4,252 · $354/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 · 30 d/yr by 30 yrs out
  • 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
  • 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$64,076
− Mortgage interest
−$16,525
− Property taxes
−$4,252
− Insurance
−$1,475
− Repairs & maintenance
−$5,126
− Management
−$5,126
− HOA
−$9,588
− Depreciation
−$8,582
Taxable income
$13,403
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$3,217
After-tax cash flow
$13,524/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

Good 80/100 Cosmetic rehab Est. rehab $6,460–$19,380 screening

This turnkey 3-bedroom, 2-bathroom townhouse in a serene lakefront community is in good condition with no major repairs needed. It offers a tropical lifestyle with lake views and a community pool. The home is ready for immediate occupancy and can be enhanced with some cosmetic updates to boost its resale and rental value.

Components & finishes AI

Roof tile · good

Value-add opportunities

  • Resale Paint the exterior walls and siding — Painting the exterior can enhance the home's curb appeal and make it more attractive to potential buyers.
  • Resale Trim the bushes and trees — Well-maintained landscaping can improve the home's curb appeal and make it more attractive to potential buyers.
  • Rental Inspect and clean the HVAC and mechanical systems — A clean and well-maintained HVAC system can improve the home's energy efficiency and reduce utility costs, making it more attractive to potential renters.

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Rayma C. Page Elementary School A FL #281/2,144 Nat'l #2,730/41,679 Middle Bonita Springs Middle Center For The Arts C+ FL #209/571 Nat'l #2,873/14,009 High Estero High School D FL #179/667 Nat'l #5,677/17,239

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
B Composite livability gradescore 79/100

Livability — Estero

Score
79/100
State rank
#149
US rank
#2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Estero, FL
County
Lee County · 871,946 people
City population
31,926
Metro
Cape Coral-Fort Myers, FL
Population (ZIP)
48,252
Household income
$91,380
Rent vs Own
17.7% rent · 82.3% own
Severe rent burden
17% of renters

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 (69%)
Race & ethnicity
White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
Hispanic origin (detail)
Mexican 8% Puerto Rican 4% Cuban 3%
Common ancestry
Romanian 5% Lithuanian 2% Slovak 2%
Foreign-born
22% · Canada, Jamaica
Languages at home
74% English-only · Spanish 21% 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

Price history

-91.5% since first listed
5 events — show timeline
  • 2026-05-23 Price Changed $295,000 NAPLESMLS
  • 2026-03-17 Price Changed $305,000 NAPLESMLS
  • 2026-02-23 Listed $329,900 NAPLESMLS
  • 2008-11-13 Sold (Public Records) $235,000 Public Records
  • 2000-03-07 Sold (Public Records) $3,458,800 Public Records

Property tax history

+3.7%/yr

Latest (2025): $4,252 · +2.0% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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