2661 Bamboo St · St. James City, FL 33956

$335,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 90 Days on market

Built 1958 0.26 ac lot

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Why this score? — see what drove the C- 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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.7/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

DOUBLE LOT GULF-ACCESS OPPORTUNITY--SELL ONE, REMODEL HOUSE ON THE OTHER OR BUILD NEW Rare waterfront offering in St. James City with 2 separate lots with direct access and no bridges to open water. This is a true lot-value investment opportunity-keep both parcels for an expansive new home build, continue remodeling existing structure with plans and permits provided by the Seller or sell one lot and recoup a significant portion of your investment. This property features a concrete seawall, carport, and storage shed, with immediate boating access to open water. The existing elevated 2-bedroom, 1-bath structure (832 sq. ft. under air) was impacted by Hurricane Ian and has since been raised a

Key facts

• Direct gulf access
• Concrete seawall
• Carport

Tags

• WATERFRONT LOT
• DIRECT GULF ACCESS
• CONCRETE SEAWALL
• CARPORT
• STORAGE SHED
• IMMEDIATE ACCESS TO OPEN WATER

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee; Community boat facilities

Exterior

• Parking: Detached carport (1 covered space)
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single-story; Entry level: 2; Faces east; Known damage noted
• Construction: Wood frame construction; Metal roof; Raised foundation; Built on a 0.261-acre lot with surveyed dimensions
• Exterior features: Storage; West exposure; Has view; Waterfront with canal access on navigable water

Interior

• Bathrooms: 1 full bathroom
• Interior features: Single-hung windows; Unfurnished; Other interior features (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-22 ($-263/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $326k (2.8% below list).
• Recommended offer: $315k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.9% in St. James City — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 287 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 90 days — a 6% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (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; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $314,900 (6.0% 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 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 0.97% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.18%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-55,461
• Equity at exit: $49,950

10-year hold

• IRR: -8.4%
• Equity multiple: 0.48×
• Total profit: $-49,198
• Equity at exit: $28,965

Cash invested: $93,800 (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 33956

• Home prices YoY: -16.3%
• Active inventory: 287
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,256 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$271 /mo · $3,253/yr
• Insurance: −$140
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $-22

Break-even live

Break-even rent $3,283

Max offer price $331,125

Occupancy floor 96%

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3864 Royal Palm Dr Saint James City, FL	2.0	1.0	960	$1,650	$1.72	23d	1	0.34mi
2744 Sanderling Ct Saint James City, FL	2.0	1.0	841	$5,300	$6.30	23d	1	0.45mi
3103 Harpoon Ln Saint James City, FL	2.0	2.0	1094	$3,000	$2.74	23d	1	0.53mi

Listing history 17 events

1. 2026-06-17
   days on market $335,000 Active 90 DOM
2. 2026-06-16
   days on market $335,000 Active 89 DOM
3. 2026-06-15
   days on market $335,000 Active 88 DOM
4. 2026-06-13
   days on market $335,000 Active 86 DOM
5. 2026-06-10
   days on market $335,000 Active 83 DOM
6. 2026-06-09
   days on market $335,000 Active 82 DOM
7. 2026-06-07
   days on market $335,000 Active 80 DOM
8. 2026-06-03
   days on market $335,000 Active 76 DOM
9. 2026-06-02
   days on market $335,000 Active 75 DOM
10. 2026-06-01
    days on market $335,000 Active 74 DOM
11. 2026-06-01
    days on market $335,000 Active 73 DOM
12. 2026-05-15
    price $335,000
13. 2026-04-24
    status Active
14. 2026-03-01
    status Pending
15. 2026-01-16
    listed $385,000 Active
16. 2021-08-31
    soldstatus $324,500
17. 1977-03-01
    soldstatus $19,000

ⓘ 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: $3,253 · $271/mo
• Projected year-2 tax: $3,253 · $271/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,069
• − Mortgage interest: −$18,765
• − Property taxes: −$3,253
• − Insurance: −$6,794
• − Repairs & maintenance: −$3,125
• − Management: −$3,125
• − Depreciation: −$9,745
• Taxable loss: −$5,739
• Est. tax savings @ 24.0%: +$1,377
• After-tax cash flow: $1,114/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 — St. James City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. James City, FL
• Population (ZIP): 3,846

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Pacific Islander 2% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Slovak 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% German/W. Germanic 2% 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: ▼ -58.47%
• Current HPI: 300.1416
• Rent YoY: —
• Metro: —
• 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

+1663.2% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $335,000 FORTMLS
• 2026-04-24 Relisted — FORTMLS
• 2026-03-01 Pending — FORTMLS
• 2026-01-16 Listed $385,000 FORTMLS
• 2021-08-31 Sold (Public Records) $324,500 Public Records
• 1977-03-01 Sold (Public Records) $19,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,253 · -24.6% YoY. Source: county tax records.