431 Van Buren St Unit C6 · Fort Myers, FL 33916

$112,500

2 bd · 1.0 ba · 819 sqft · Condo public records · 102 Days on market

Built 1975 $378/mo HOA · 29% of rent

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Why this score? — see what drove the D 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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• DSCR +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home! This charming 2-bedroom, 1-bath condo offers approximately 819 sq ft of comfortable living space, ideal for year-round living or a seasonal retreat. The layout features a bright living area that flows into the dining space and kitchen, offering a functional and inviting atmosphere. The spacious bedrooms provide a relaxing retreat, while the updated bathroom is designed for easy, low-maintenance living. Residents enjoy a peaceful, well-maintained community with amenities including a pool, clubhouse, shuffleboard, and billiards, creating opportunities to relax and connect with neighbors. The low HOA fees cover many essentials and the water bill, helping to keep ownership simple

Key facts

• Clubhouse
• Billiards
• Pool

Tags

• UPDATED BATHROOM
• WELL MAINTAINED COMMUNITY
• POOL
• CLUBHOUSE
• SHUFFLEBOARD
• BILLIARDS

Property features AI

Finance

• Financial info: Pets allowed with conditions (maximum 2 pets, max 35 lb); contact for details
• HOA & community: Part of a homeowners association (48 units in the community); Monthly association fee covers management, insurance, irrigation water, laundry, legal/accounting, grounds maintenance, pest control, reserve fund, sewer, trash and water; Community amenities include clubhouse, fitness center, billiards, bike storage, barbecue/picnic area, playground, pool, shuffleboard court, storage, sidewalks and onsite management; Non-gated community with street lights; Senior community

Exterior

• Parking: Assigned parking; Guest parking; Paved parking; One assigned space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Irrigation supplied by municipal source
• Home design: Resale property; Faces south; Entry level: 2; Exposure to the north
• Construction: Block, concrete and stucco construction; Metal roof
• Exterior features: Private courtyard; Automatic sprinklers / irrigation; Outdoor gas grill and additional grill; Storage; Community pool

Interior

• Kitchen: Electric cooktop; Range; Self-cleaning oven; Microwave; Refrigerator; Freezer; Indoor grill
• Bedrooms: Includes guest quarters
• Flooring: Tile flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features and closet cabinetry; Living/dining room; Separate shower (shower only); Cable TV and high-speed internet available; Window coverings / treatments; Furnishing negotiable
• Laundry & utility: Washer and dryer included; Laundry located inside and in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $112k.

Deal economics

• At list price, monthly cash flow is $-6 ($-74/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (1.0% below list).
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $102k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.3% 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.
• Zoned schools: Sunshine Elementary School (math 38% / reading 42%, grade F, #1,491 of 2,144 statewide, top 70%, 1,301 students, 74% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents falling (-4.3%/yr); 271 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $778 of loan paydown is wiped out by about $3k 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 102 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $34k; list at $112k implies a 231% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $102,375 (9.0% 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 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.16% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -21.1%
• Equity multiple: 0.29×
• Total profit: $-22,279
• Equity at exit: $16,774

10-year hold

• IRR: -28.5%
• Equity multiple: -0.08×
• Total profit: $-33,997
• Equity at exit: $9,727

Cash invested: $31,500 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 271
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,309 high
• Mortgage (P&I): −$590
• Tax from tax record: −$26 /mo · $307/yr
• Insurance: −$47
• HOA: −$378
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-6

Break-even live

Break-even rent $1,317

Max offer price $111,408

Occupancy floor 95%

Sensitivity live

Price	-10% $58	-5% $26	+0% $-6	+5% $-38	+10% $-70
Rent	-10% $-110	-5% $-58	+0% $-6	+5% $46	+10% $97
Rate	-1.0pp $50	-0.5pp $22	base $-6	+0.5pp $-35	+1.0pp $-65

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
838 Van Buren St Fort Myers, FL	2.0	2.0	800	$1,275	$1.59	13d	1	0.48mi
4104 Desoto Ave Fort Myers, FL	2.0	1.0	700	$1,195	$1.71	25d	1	0.48mi
3744 Estelle Ave Fort Myers, FL	2.0	1.0	725	$999	$1.38	25d	1	0.51mi
9145 Flying Eagle DR Tice, FL	1.0–3.0	1.0–2.5	1072	$2,174	$2.03	5d	14	0.55mi
4280 Desoto Ave #305 Fort Myers, FL	2.0	2.0	912	$1,550	$1.70	18d	1	0.55mi
4280 Desoto Ave Fort Myers, FL	2.0	2.0	948	$1,700	$1.79	25d	1	0.55mi
704 Karlov St Unit 704 Fort Myers, FL	2.0	1.0	725	$1,095	$1.51	5d	1	0.56mi
3814 Desoto Ave Fort Myers, FL	1.0	1.0	700	$959	$1.37	5d	1	0.60mi
3619 Seminole Ave Unit 3 Fort Myers, FL	1.0	1.0	800	$900	$1.12	25d	1	0.69mi
3838 Madison Ave Apt 3 Fort Myers, FL	1.0	1.0	800	$900	$1.12	25d	1	0.70mi
3920 Lora St Fort Myers, FL	2.0	1.0	800	$1,150	$1.44	13d	1	0.76mi
3555 Seminole Ave Fort Myers, FL	2.0	1.0	775	$1,000	$1.29	25d	1	0.81mi
3758 Lora St Unit 4 Fort Myers, FL	2.0	1.0	800	$1,025	$1.28	23d	1	0.83mi
8 Roanoke Dr Fort Myers, FL	3.0	2.0	1056	$1,495	$1.42	23d	1	0.84mi
3771 Belmont St Apt A Fort Myers, FL	2.0	1.0	800	$1,195	$1.49	25d	1	0.85mi
464 Carolina Ave Fort Myers, FL	2.0	1.0	750	$975	$1.30	21d	1	0.88mi
464 Carolina Ave Unit A Fort Myers, FL	2.0	1.0	714	$1,150	$1.61	5d	1	0.88mi
580 Thomas Ave Fort Myers, FL	2.0	1.0	900	$1,200	$1.33	25d	1	0.89mi
319 Montgomery Ave Fort Myers, FL	3.0	1.0	978	$1,300	$1.33	16d	1	0.93mi
1150 Polk St Fort Myers, FL	2.0	1.0	819	$2,000	$2.44	25d	1	0.94mi
4724 Tice St Fort Myers, FL	2.0	1.0	890	$1,100	$1.24	18d	1	0.95mi
3666 Pearl St Fort Myers, FL	2.0	1.0	1100	$1,400	$1.27	25d	1	0.98mi
3616 Pearl St Unit 4 Fort Myers, FL	2.0	1.5	980	$925	$0.94	23d	1	1.03mi
326 Chattanooga Dr Fort Myers, FL	2.0	1.0	895	$1,475	$1.65	23d	1	1.16mi
4900 Tice St Unit 5 Fort Myers, FL	2.0	1.0	700	$800	$1.14	25d	1	1.19mi
3339 Edgewood Ave Fort Myers, FL	2.0	1.0	860	$1,300	$1.51	18d	1	1.21mi
3339 Edgewood Ave Fort Myers, FL	2.0	1.0	860	$1,300	$1.51	5d	1	1.21mi
328 Bellair Rd Fort Myers, FL	2.0	1.0	900	$1,500	$1.67	25d	1	1.22mi
322 Louise Ave Fort Myers, FL	2.0	1.0	765	$1,100	$1.44	5d	1	1.24mi
322 Louise Ave Fort Myers, FL	2.0	1.0	765	$1,100	$1.44	21d	1	1.24mi
1427 Markland Ave Fort Myers, FL	1.0	1.0	800	$1,025	$1.28	25d	1	1.27mi
815 Freemont St Fort Myers, FL	2.0	1.0	850	$1,250	$1.47	25d	1	1.28mi
221 Maria St Unit 225 Fort Myers, FL	2.0	1.0	720	$1,095	$1.52	25d	1	1.28mi
227 Maria St Fort Myers, FL	2.0	1.0	720	$1,095	$1.52	25d	1	1.28mi
3233 Edgewood Ave Fort Myers, FL	2.0	1.0	950	$1,595	$1.68	23d	1	1.32mi
216 Maria St Fort Myers, FL	3.0	1.0	864	$1,600	$1.85	25d	1	1.32mi
3225 E Riverside Dr Fort Myers, FL	1.0	1.0	560	$1,800	$3.21	25d	1	1.35mi
3165 E Riverside Dr Fort Myers, FL	2.0	1.0–2.0	925	$1,250	$1.35	3d	1	1.43mi
3160 E Riverside Dr #3 Fort Myers, FL	2.0	1.0	825	$1,050	$1.27	16d	1	1.43mi
3160 E Riverside Dr Unit 6 Fort Myers, FL	2.0	1.0	825	$1,050	$1.27	25d	1	1.44mi

HOA detail condo

• Monthly dues: $378 · $4,536/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-22
   days on market $112,500 Active 102 DOM
2. 2026-06-17
   days on market $112,500 Active 98 DOM
3. 2026-06-16
   days on market $112,500 Active 97 DOM
4. 2026-06-15
   days on market $112,500 Active 96 DOM
5. 2026-06-13
   days on market $112,500 Active 94 DOM
6. 2026-06-10
   days on market $112,500 Active 91 DOM
7. 2026-06-09
   days on market $112,500 Active 90 DOM
8. 2026-06-07
   days on market $112,500 Active 88 DOM
9. 2026-06-03
   days on market $112,500 Active 84 DOM
10. 2026-06-02
    days on market $112,500 Active 83 DOM
11. 2026-06-01
    days on market $112,500 Active 82 DOM
12. 2026-06-01
    days on market $112,500 Active 81 DOM
13. 2026-05-12
    price $112,500
14. 2026-03-10
    listed $115,000 Active
15. 2014-04-18
    soldstatus $34,000
16. 2014-04-02
    historical
17. 2014-03-06
    listed $37,900
18. 1997-10-20
    soldstatus $23,900
19. 1981-02-01
    soldstatus $38,500

ⓘ 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: $307 · $26/mo
• Projected year-2 tax: $934 · $78/mo
• Expected delta: +$627/yr (+$52/mo · 204.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $15,710
• − Mortgage interest: −$6,302
• − Property taxes: −$307
• − Insurance: −$562
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − HOA: −$4,536
• − Depreciation: −$3,273
• Taxable loss: −$1,784
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $354/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): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

+192.2% since first listed

7 events — show timeline

• 2026-05-12 Price Changed $112,500 FORTMLS
• 2026-03-10 Listed $115,000 FORTMLS
• 2014-04-18 Sold (Public Records) $34,000 Public Records
• 2014-04-02 Listing Removed — FORTMLS
• 2014-03-06 Listed $37,900 FORTMLS
• 1997-10-20 Sold (Public Records) $23,900 Public Records
• 1981-02-01 Sold (Public Records) $38,500 Public Records

Property tax history

-2.7%/yr

Latest (2025): $307 · -2.1% YoY. Source: county tax records.