11008 Mill Creek Way #2107 · Fort Myers, FL 33913

$267,000

2 bd · 2.0 ba · 1,379 sqft · Condo public records · 102 Days on market

Built 2003 $808/mo HOA · 18% of rent

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Why this score? — see what drove the B- 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 +28.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful lake views in gated golf course community of Colonial Country Club. Features 1 car garage, tile floors on diagonal in kitchen and living room, bedrooms are carpeted. Offered AS IS with right to inspect.

Key facts

• Preserve views
• Accordion shutters
• Neighborhood spa

Tags

• PRIVATE WATER VIEWS
• PRESERVE VIEWS
• HUGE SIDE YARD
• NEIGHBORHOOD POOL
• NEIGHBORHOOD SPA
• ACCORDION SHUTTERS

Property features AI

Finance

• Other: Pets allowed with conditions (maximum 2 pets; weight limits and breed restrictions apply)
• Financial info: Community contains 1,699 units
• HOA & community: Homeowners association (annual and quarterly fees apply); Association covers management, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, reserves, trash and water; Community amenities include clubhouse, fitness center, pool, spa/hot tub, bocce court, pickleball, tennis courts, sidewalks, restaurant and on-site management; Community features include golf and gated access

Exterior

• Parking: Assigned covered parking; Attached garage with one garage space; Garage door opener; Guest parking; Deeded parking (one space)
• Security: Gated community with security gate and guard; On-site management; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High speed internet available
• Home design: Single-story; Resale property; Entry level: 1; Faces west; RPD zoning
• Construction: Block, concrete and stucco construction; Tile roof; Built on a foundation (standard)
• Exterior features: Lanai; Screened porch; Porch; Sprinkler/irrigation (automatic); Shutters (manual); Reclaimed water irrigation; East exposure; Water view (canal access, lake); Private road with private maintenance; Zero lot line

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Disposal; Icemaker; Refrigerator (with ice maker); Breakfast bar; Eat-in kitchen
• Bedrooms: Den (flex room); Screened porch (listed as a room type)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans; Humidity control
• Interior features: Breakfast bar; Entrance foyer; Eat-in kitchen; Living/dining room; Dual sinks; Separate shower (shower only); Walk-in closets; Window treatments; Cable TV; High speed internet; Split bedrooms; French doors; Single hung and sliding windows; Shutters
• Laundry & utility: Washer and dryer included; Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $267k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $267k).
• Recommended offer: $243k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.0% 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.
• Market conditions: Rents flat; 811 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,505/mo this rent would consume 49% of the median local household income ($110k/yr) (locally 276% 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 $8k 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 ($243k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $120k; list at $267k implies a 123% 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; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,970 (9.0% below list)

Questions for the listing agent

1. 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?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 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: 1.69% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.35%
• DSCR: 1.59
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.62×
• Total profit: $-28,189
• Equity at exit: $39,811

10-year hold

• IRR: -8.7%
• Equity multiple: 0.56×
• Total profit: $-32,977
• Equity at exit: $23,085

Cash invested: $74,760 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $4,505 high
• Mortgage (P&I): −$1,400
• Tax from tax record: −$408 /mo · $4,892/yr
• Insurance: −$111
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$808
• Vacancy / Maint / Mgmt: −$946
• Net cashflow: $405

Break-even live

Break-even rent $3,992

Max offer price $267,000

Occupancy floor 86%

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: $66,750
• Closing costs: $8,010
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	23d	1	0.02mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	0.04mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	23d	1	0.13mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	23d	1	0.16mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	3d	1	0.24mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	23d	1	0.27mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	23d	1	0.29mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	15d	1	0.31mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	23d	1	0.31mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	23d	1	0.33mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	23d	1	0.34mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	23d	1	0.35mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	0.36mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	0.37mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	15d	1	0.39mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	23d	1	0.45mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	23d	1	0.58mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	23d	1	0.65mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	23d	1	0.65mi
11280 Reflection Isles Blvd Fort Myers, FL	3.0	2.0	1670	$3,500	$2.10	23d	1	0.66mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	23d	1	0.66mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	23d	1	0.68mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	23d	1	0.70mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.71mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	23d	1	0.71mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	23d	1	0.83mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.90mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	23d	1	0.94mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	0.96mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	15d	2	0.98mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	0.98mi
10025 Oakhurst Way Fort Myers, FL	2.0	2.0	1504	$7,100	$4.72	23d	1	0.99mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	23d	1	0.99mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.99mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	1.02mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	23d	1	1.08mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	1.13mi
11869 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1646	$5,000	$3.04	23d	1	1.13mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	23d	1	1.15mi
10072 Oakhurst Way Fort Myers, FL	2.0	2.0	1511	$7,400	$4.90	23d	1	1.17mi

HOA detail condo

• Monthly dues: $808 · $9,696/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-17
   days on market $267,000 Active 102 DOM
2. 2026-06-16
   pricedays on market $267,000 Active 101 DOM
3. 2026-06-15
   days on market $274,900 Active 100 DOM
4. 2026-06-13
   days on market $274,900 Active 98 DOM
5. 2026-06-10
   days on market $274,900 Active 95 DOM
6. 2026-06-09
   days on market $274,900 Active 94 DOM
7. 2026-06-07
   days on market $274,900 Active 92 DOM
8. 2026-06-02
   days on market $274,900 Active 87 DOM
9. 2026-06-01
   days on market $274,900 Active 86 DOM
10. 2026-06-01
    days on market $274,900 Active 85 DOM
11. 2026-03-25
    status Active
12. 2026-01-28
    historical
13. 2026-01-10
    listed $274,900 Active
14. 2025-05-09
    historical
15. 2025-03-24
    price $289,000
16. 2025-02-01
    listed $299,900 Active
17. 2015-08-21
    price $119,900 212-char remark

    Show marketing remark (212 chars)

    Beautiful lake views in gated golf course community of Colonial Country Club. Features 1 car garage, tile floors on diagonal in kitchen and living room, bedrooms are carpeted. Offered AS IS with right to inspect.

18. 2010-11-22
    soldstatus $120,000 212-char remark

    Show marketing remark (212 chars)

    Beautiful lake views in gated golf course community of Colonial Country Club. Features 1 car garage, tile floors on diagonal in kitchen and living room, bedrooms are carpeted. Offered AS IS with right to inspect.

ⓘ 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: $4,892 · $408/mo
• Projected year-2 tax: $4,892 · $408/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,062
• − Mortgage interest: −$14,956
• − Property taxes: −$4,892
• − Insurance: −$6,454
• − Repairs & maintenance: −$4,325
• − Management: −$4,325
• − HOA: −$9,696
• − Depreciation: −$7,767
• Taxable income: $1,647
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $4,470/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): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

+129.1% since first listed

8 events — show timeline

• 2026-03-25 Relisted — FORTMLS
• 2026-01-28 Listing Removed — FORTMLS
• 2026-01-10 Listed $274,900 FORTMLS
• 2025-05-09 Listing Removed — FORTMLS
• 2025-03-24 Price Changed $289,000 FORTMLS
• 2025-02-01 Listed $299,900 FORTMLS
• 2015-08-21 Price Changed $119,900 FORTMLS
• 2010-11-22 Sold (MLS) $120,000 FORTMLS

Property tax history

+2.9%/yr

Latest (2025): $4,892 · -1.4% YoY. Source: county tax records.