18307 Parksville Dr

Estero, FL 33928

$585,000D-

3 bd · 3.0 ba · 2,434 sqft · Built 2022 · SingleFamily · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,749/mo
• Mortgage (P&I): −$3,068
• Tax + insurance: −$914
• HOA: −$394
• Vac / Maint / Mgmt: −$997
• Net cashflow: $-624/mo
• Annual: $-7,486/yr
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• 1% rule: 0.81%
• Cash to close: $163,800

Investor read

• This is a 3-bed/3.0-bath single-family listed at $585k. Condition is rated good.
• At list price, monthly cash flow is $-624 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $475k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $475k (18.8% below list).
• It's been on market 105 days — a 9% lower offer ($532k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $475k (18.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• 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 (-1.4%/yr); 767 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% 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).
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.0% vs local median 3.1% 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.
• At $4,749/mo this rent would consume 56% of the median local household income ($103k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.