4724 Riverside Dr · Estero, FL 33928

$639,000

3 bd · 2.0 ba · 1,991 sqft · SingleFamily public records · 93 Days on market

Built 1990 0.28 ac lot Est $1085k · 41% under

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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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.4/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience the charm of Old Florida living in the highly desirable Estero River Heights boating community. Nestled along the Estero River and the protected Estero Bay Preserve, this non-gated boating neighborhood offers direct Gulf access and a peaceful natural setting while remaining centrally located between Naples and Fort Myers. This beautifully maintained and thoughtfully upgraded pool and spa home features 3 bedrooms, 2 bathrooms, and nearly 2,000 square feet of living space and a new roof installed in 2023! A double-door entry welcomes you into the home where volume ceilings, tile flooring throughout, and a cozy living area with fireplace create a warm and inviting atmosphere. The up

Key facts

• Custom kitchen
• Direct gulf access
• Screened lanai

Tags

• BOATING COMMUNITY
• DIRECT GULF ACCESS
• NEW ROOF
• CUSTOM KITCHEN
• PANORAMIC WINDOWS
• SCREENED LANAI

Property features AI

Finance

• Other: Property is in Estero River Heights development; Lot irrigation from well; Gulf access via canal (boat ramp; canal width 31-80; no bridges)
• HOA & community: Voluntary HOA; HOA maintenance includes recreation facilities; Community amenities include basketball, community boat dock and boat ramp, community park, and play area; Community type: boating, non-gated

Exterior

• Parking: Attached 2-car garage; Paved driveway with 2+ parking spaces
• Security: Smoke detectors
• Utilities: Well water; Septic sewer; Cable available; Electric service
• Home design: Single-family residential; One-story / ranch; Rear exposure faces NW
• Construction: Concrete block construction; Built in 1990
• Exterior features: Fruit trees; Patio; Automatic sprinkler system; Screened pool and screened spa (below-ground; pool and spa equipment stay); Landscaped area view; Double-hung windows; Stucco exterior; Shingle roof

Interior

• Kitchen: Pantry; Range; Dishwasher; Refrigerator / refrigerator-freezer / icemaker
• Bedrooms: 3 bedrooms
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and separate tub and shower
• Heating & cooling: Central electric heating; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Fireplace; High-speed internet available; Laundry tub; Pantry; Smoke detectors; Volume ceiling; Window coverings; Split bedroom floor plan; Breakfast bar / dining in living area; Guest bath and guest room; Screened lanai/porch
• Laundry & utility: Washer and dryer included; Washer/dryer hookup; Laundry in residence; Laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $639k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $603k (5.7% below list).
• Recommended offer: $581k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.4% 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.
• Market conditions: Rents soft (-1.4%/yr); 668 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $6,028/mo this rent would consume 70% of the median local household income ($103k/yr) (locally 606% 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 $4k of loan paydown is wiped out by about $19k 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 93 days — a 9% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $36k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $350k; list at $639k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $581,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 8.18%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $1,085,095
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19005 Ridgepoint Dr	0.36mi	3/3.5	1,989 (-0%)	1mo	$907,000	$456	76
4631 Torrey Pines Ct	0.34mi	2/2.0 (-1)	1,875 (-6%)	8mo	$1,022,500	$545	63
20823 Gleneagles Links Dr	0.48mi	2/2.0 (-1)	1,885 (-5%)	3mo	$1,216,000	$645	62
20831 Torrey Pines Way	0.39mi	3/2.5	2,106 (+6%)	22mo	$1,050,000	$499	52

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.53×
• Total profit: $-84,578
• Equity at exit: $95,277

10-year hold

• IRR: -10.0%
• Equity multiple: 0.47×
• Total profit: $-94,887
• Equity at exit: $55,249

Cash invested: $178,920 (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 33928

• Rents YoY: -1.4%
• Active inventory: 668
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $6,028 high
• Mortgage (P&I): −$3,351
• Tax from tax record: −$142 /mo · $1,705/yr
• Insurance: −$266
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,266
• Net cashflow: $576

Break-even live

Break-even rent $5,299

Max offer price $639,000

Occupancy floor 85%

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: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Royal Shores Dr #101 Estero, FL	3.0	3.0	2060	$10,000	$4.85	24d	1	0.46mi
19500 Marsh Point Run #201 Estero, FL	3.0	2.0	2044	$5,000	$2.45	24d	1	0.48mi
4761 W Bay Blvd Unit 1545976P Estero, FL	3.0	3.0	1743	$4,994	$2.87	14d	1	0.86mi
4761 W Bay Blvd #703 Estero, FL	3.0	3.0	2150	$9,000	$4.19	24d	1	0.86mi
20151 Ian Ct #201 Estero, FL	2.0	2.0	1429	$3,000	$2.10	24d	1	0.87mi
4751 W Bay Blvd #402 Estero, FL	3.0	3.0	1608	$7,500	$4.66	24d	1	0.90mi
4751 W Bay Blvd #101 Estero, FL	3.0	3.5	2342	$12,500	$5.34	24d	1	0.90mi
4751 W Bay Blvd #402 Estero, FL	3.0	3.0	1608	$7,500	$4.66	16d	1	0.90mi
3783 Pino Vista Way #201 Estero, FL	3.0	2.0	1523	$3,300	$2.17	24d	1	1.00mi
3702 Pino Vista Way #3 Estero, FL	3.0	2.0	1610	$2,300	$1.43	3d	1	1.14mi
3610 Lansing Loop #103 Estero, FL	3.0	2.5	1917	$2,800	$1.46	3d	1	1.32mi
3535 Cherry Blossom Ct #102 Estero, FL	3.0	2.5	1917	$2,900	$1.51	24d	1	1.47mi

Listing history 22 events

1. 2026-06-17
   days on market $639,000 Active 93 DOM
2. 2026-06-16
   days on market $639,000 Active 92 DOM
3. 2026-06-15
   days on market $639,000 Active 91 DOM
4. 2026-06-13
   days on market $639,000 Active 89 DOM
5. 2026-06-10
   days on market $639,000 Active 86 DOM
6. 2026-06-09
   days on market $639,000 Active 85 DOM
7. 2026-06-07
   days on market $639,000 Active 83 DOM
8. 2026-06-03
   days on market $639,000 Active 79 DOM
9. 2026-06-02
   days on market $639,000 Active 78 DOM
10. 2026-06-01
    days on market $639,000 Active 77 DOM
11. 2026-06-01
    days on market $639,000 Active 76 DOM
12. 2026-05-19
    price $639,000
13. 2026-04-29
    price $649,000
14. 2026-04-16
    price $660,000
15. 2026-03-16
    listed $675,000 Active
16. 2022-12-12
    soldstatus $350,000
17. 2019-04-18
    soldstatus $352,000
18. 2019-02-06
    price $399,900
19. 2018-10-31
    historical
20. 2018-10-18
    status Active
21. 2018-10-08
    status Pending With Contingencies
22. 2018-06-15
    listed $425,000 Active

ⓘ 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: $1,705 · $142/mo
• Projected year-2 tax: $5,304 · $442/mo
• Expected delta: +$3,598/yr (+$300/mo · 211.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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

Taxation est. · year 1

• Rental income: $72,332
• − Mortgage interest: −$35,794
• − Property taxes: −$1,705
• − Insurance: −$8,314
• − Repairs & maintenance: −$5,787
• − Management: −$5,787
• − Depreciation: −$18,589
• Taxable loss: −$3,643
• Est. tax savings @ 24.0%: +$874
• After-tax cash flow: $7,786/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 — 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 · 788,662 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 606.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• 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

+50.4% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $639,000 BEARMLS
• 2026-04-29 Price Changed $649,000 BEARMLS
• 2026-04-16 Price Changed $660,000 BEARMLS
• 2026-03-16 Listed $675,000 BEARMLS
• 2022-12-12 Sold (Public Records) $350,000 Public Records
• 2019-04-18 Sold (Public Records) $352,000 Public Records
• 2019-02-06 Price Changed $399,900 BEARMLS
• 2018-10-31 Listing Removed — FORTMLS
• 2018-10-18 Relisted — FORTMLS
• 2018-10-08 Pending — FORTMLS
• 2018-06-15 Listed $425,000 FORTMLS

Property tax history

-1.9%/yr

Latest (2025): $1,705 · +9.2% YoY. Source: county tax records.