1806 / 1808 SW 15th Pl · Cape Coral, FL 33991

$339,000

4 bd · 2.0 ba · — sqft · MultiFamily · 43 Days on market

Built 1985 Good condition 10,667 sqft 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +0.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investors, take notice! This exceptionally maintained duplex at 1806 SW 15th Place offers a seamless "buy and hold" opportunity in one of Cape Coral’s most desirable areas. This property is a true turnkey investment with a reliable lease already in place, providing immediate cash flow from day one. The property features a newer roof 2022, significantly reducing future capital expenditure and providing peace of mind for years to come. Situated in a quiet, safe neighborhood in deep Southwest Cape Coral, this duplex is perfectly positioned across from a beautiful local church and just minutes from essential amenities including Publix, Walmart, and various dining and shopping ce

Key facts

• Newer roof
• Fenced backyard
• 0.24 acre lot

Tags

• NEWER ROOF
• FENCED BACKYARD
• QUIET SAFE NEIGHBORHOOD

Property features AI

Finance

• Other: Irrigation available at extra cost
• Financial info: Gross scheduled income: $32,400; Operating expenses: $2,000; Tenant pays electricity and water; Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Utilities: Public water (assessment unpaid); Sewer assessment unpaid; Cable available
• Home design: Single-story property; Resale condition; Zoned C
• Construction: Concrete and stucco construction; Shingle roof
• Exterior features: Room for a pool; Rectangular lot with dimensions approximately 80 x 125 x 80 x 125

Interior

• Flooring: Concrete
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating
• Interior features: Concrete flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $339k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive. Per door: $260/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• Recommended offer: $329k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: commute F.
• 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 falling (-8.6%/yr); 686 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $3,709/mo this rent would consume 53% of the median local household income ($84k/yr) (locally 760% 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 $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 43 days — a 3% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $328,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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: 1.09% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.43%
• DSCR: 1.33
• GRM: 7.6

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: -9.7%
• Equity multiple: 0.66×
• Total profit: $-32,529
• Equity at exit: $50,546

10-year hold

• IRR: -5.1%
• Equity multiple: 0.71×
• Total profit: $-27,219
• Equity at exit: $29,311

Cash invested: $94,920 (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 33991

• Home prices YoY: -27.8%
• Rents YoY: -8.6%
• Active inventory: 686
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $3,709 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$779
• Net cashflow: $521

Break-even live

Break-even rent $3,050

Max offer price $339,000

Occupancy floor 81%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,710
Total (2 units)			$3,709

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1715 Chiquita Blvd S Cape Coral, FL	5.0	3.0	2207	$3,500	$1.59	23d	1	0.08mi
1916 SW 15th Pl Cape Coral, FL	3.0	2.0	1200	$1,549	$1.29	19d	1	0.17mi
1622 SW 16th Ct Cape Coral, FL	3.0	2.0	1789	$2,200	$1.23	23d	1	0.24mi
1407 SW 16th Ter #201 Cape Coral, FL	3.0	2.0	1186	$1,000	$0.84	23d	1	0.25mi
1704 SW 17th Ave Cape Coral, FL	3.0	3.0	2140	$8,000	$3.74	23d	1	0.27mi
2005 Chiquita Blvd S Cape Coral, FL	3.0	2.0	1200	$1,600	$1.33	3d	1	0.30mi
1314 Trafalgar Pkwy Cape Coral, FL	3.0	2.0	1209	$1,550	$1.28	16d	1	0.31mi
1314 Trafalgar Pkwy Cape Coral, FL	3.0	2.0	1209	$1,525	$1.26	3d	1	0.31mi
1405 SW Trafalgar Pkwy Cape Coral, FL	4.0	2.5	2100	$2,395	$1.14	3d	1	0.31mi
1228 Trafalgar Pkwy Unit 1228 Cape Coral, FL	3.0	2.0	1623	$1,500	$0.92	23d	1	0.34mi
1206 SW Trafalgar Pkwy Cape Coral, FL	3.0	2.0	1522	$2,150	$1.41	23d	1	0.40mi
1710 SW 10th Pl Cape Coral, FL	3.0	2.0	1993	$1,999	$1.00	14d	1	0.56mi
1713 SW 10th Pl Cape Coral, FL	3.0	2.0	1704	$1,850	$1.09	23d	1	0.59mi
1726 SW 22nd St Cape Coral, FL	3.0	2.0	1283	$1,920	$1.50	3d	1	0.63mi
1815 SW 22nd St Cape Coral, FL	4.0	2.0	1845	$4,095	$2.22	23d	1	0.65mi
1409 SW 11th Pl Cape Coral, FL	4.0	2.0	1499	$1,790	$1.19	21d	1	0.68mi
1408 SW 23rd St Cape Coral, FL	3.0	2.5	1901	$3,500	$1.84	14d	1	0.72mi
1817 SW 22nd Ln Cape Coral, FL	4.0	3.0	3000	$3,100	$1.03	21d	1	0.74mi
1229 SW 18th Ave Cape Coral, FL	3.0	2.0	1993	$2,141	$1.07	3d	1	0.76mi
1110 SW 15th Ave Cape Coral, FL	3.0	2.0	2371	$2,495	$1.05	3d	1	0.78mi
1633 SW 12th Ter Cape Coral, FL	4.0	2.0	1828	$1,950	$1.07	3d	1	0.79mi
1912 SW 13th St Cape Coral, FL	3.0	3.0	1931	$3,125	$1.62	23d	1	0.81mi
2054 Willow Branch Dr Cape Coral, FL	3.0	2.5	2523	$2,850	$1.13	23d	1	0.84mi
2305 SW 19th Pl Cape Coral, FL	3.0	2.0	1521	$4,975	$3.27	23d	1	0.84mi
1915 SW 13th St Cape Coral, FL	3.0	2.0	1557	$1,900	$1.22	23d	1	0.85mi
1817 SW 12th Ln Cape Coral, FL	4.0	2.0	1898	$2,275	$1.20	3d	1	0.85mi
902 SW 21st Ln Cape Coral, FL	3.0	2.0	1656	$1,795	$1.08	11d	1	0.86mi
1137 SW 18th Ct Cape Coral, FL	4.0	3.0	1918	$8,785	$4.58	23d	1	0.90mi
1510 SW 8th Pl Cape Coral, FL	3.0	2.0	1524	$2,400	$1.57	2d	1	0.90mi
2112 SW 8th Pl Cape Coral, FL	3.0	2.0	1580	$2,100	$1.33	23d	1	0.95mi
1218 SW 9th Ct Cape Coral, FL	3.0	2.0	1476	$2,850	$1.93	2d	1	0.96mi
1218 SW 9th Ct Cape Coral, FL	3.0	2.0	1476	$2,850	$1.93	3d	1	0.96mi
1409 SW 10th St Cape Coral, FL	3.0	2.0	1412	$1,750	$1.24	23d	1	0.97mi
1627 SW 25th Ln Cape Coral, FL	4.0	2.0	1828	$1,861	$1.02	3d	1	0.97mi
2100 SW 12th Ter Cape Coral, FL	4.0	2.0	1951	$2,631	$1.35	3d	1	0.98mi
1825 SW 25th St Cape Coral, FL	3.0	2.0	1785	$1,950	$1.09	3d	1	0.98mi
1833 SW 11th Ter Cape Coral, FL	4.0	2.0	1838	$8,000	$4.35	23d	1	1.01mi
916 SW 24th St Cape Coral, FL	4.0	2.0	2260	$2,749	$1.22	23d	1	1.04mi
2200 Oasis Palm Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1076	$1,919	$1.78	2d	19	1.10mi
2427 Woodbourne Pl Cape Coral, FL	3.0	2.0	1507	$2,300	$1.53	16d	1	1.10mi

Listing history 6 events

1. 2026-05-07
   status Pending
2. 2026-04-20
   price $339,000
3. 2026-03-24
   listed $349,000 Active
4. 2019-08-16
   historical
5. 2019-08-05
   price $177,000
6. 2019-03-18
   listed $189,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,508
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$2,492
• − Repairs & maintenance: −$3,561
• − Management: −$3,561
• − Depreciation: −$9,862
• Taxable income: $958
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $6,021/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.

Condition & rehab AI · 8 photos

Good 75/100 Cosmetic rehab

This well-maintained duplex is in good condition with some minor repairs and maintenance needed. It offers a seamless 'buy and hold' opportunity in a desirable area.

Repairs flagged

• Minor Kitchen cabinets — The kitchen cabinets appear to be in good condition, with no visible damage or wear.
• Minor Bathroom fixtures — The bathroom fixtures appear to be in good condition, with no visible damage or wear.
• Minor Landscaping — The landscaping appears to be in average condition, with some overgrown areas visible.

Value-add opportunities

• Resale Paint interior walls — Painting interior walls can improve the home's appearance and make it more appealing to potential buyers.
• Resale Replace kitchen cabinets — Replacing old kitchen cabinets can improve the home's appearance and make it more appealing to potential buyers.
• Resale Replace bathroom fixtures — Replacing old bathroom fixtures can improve the home's appearance and make it more appealing to potential buyers.
• Rental Landscaping maintenance — Maintaining the landscaping can improve the home's curb appeal and make it more attractive to potential renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The kitchen cabinets appear to be in good condition, with no visible damage or wear.	Minor	$500–3,000
Bathroom fixtures · The bathroom fixtures appear to be in good condition, with no visible damage or wear.	Minor	$500–3,000
Landscaping · The landscaping appears to be in average condition, with some overgrown areas visible.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint interior walls — Painting interior walls can improve the home's appearance and make it more appealing to potential buyers. ↑
• Resale Replace kitchen cabinets — Replacing old kitchen cabinets can improve the home's appearance and make it more appealing to potential buyers. ↑
• Resale Replace bathroom fixtures — Replacing old bathroom fixtures can improve the home's appearance and make it more appealing to potential buyers. ↑
• Rental Landscaping maintenance — Maintaining the landscaping can improve the home's curb appeal and make it more attractive to potential renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F 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: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 27,725
• Household income: $84,470
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 760.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 20% Two or more races 14% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Cuban 6%
• Common ancestry: Romanian 5% Lithuanian 3% Italian 3%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 15% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▼ -108.25%
• Current HPI: 281.0735
• Rent YoY: ▼ -8.55%
• 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

+79.4% since first listed

6 events — show timeline

• 2026-05-07 Pending — FORTMLS
• 2026-04-20 Price Changed $339,000 FORTMLS
• 2026-03-24 Listed $349,000 FORTMLS
• 2019-08-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-08-05 Price Changed $177,000 Stellar MLS as Distributed by MLS Grid
• 2019-03-18 Listed $189,000 Stellar MLS as Distributed by MLS Grid