979 E Gulf Dr Unit D452 · Sanibel, FL 33957

$759,000

2 bd · 2.0 ba · 1,184 sqft · Condo public records · 99 Days on market

Built 1976 $1100/mo HOA · 10% 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A great gulf view from this condo in the sought after Loggerhead Cay gulf front complex-Sanibel's favorite family vacation destination. Loggerhead condos are open and spacious with generous sized living areas and bedrooms. Condo D452 has a corner lanai with direct views to the gulf, 2 bedroom split floorplan, guest bath, private primary bath, dining/living area, full size washer & dryer, large eat in kitchen and lanai. Beautifully updated in pleasant neutral colors. Newimpact rated windows and doors for storm security-the building also has a new roof. Storage closets are located on each floor. Loggerhead amenities include aheated pool, tennis & pickle ball, grills, on site manag

Key facts

• Gulf view
• Corner lanai
• New roof

Tags

• GULF VIEW
• CORNER LANAI
• NEW IMPACT RATED WINDOWS
• NEW ROOF
• HEATED POOL
• DESIGNATED PARKING

Property features AI

Finance

• Other: Pets allowed conditionally (maximum 2 pets, max 25 lb; breed restrictions may apply)
• Financial info: Community contains 168 units
• HOA & community: Part of HOA (monthly fee); HOA fee includes cable TV and internet; HOA fee includes legal/accounting, grounds maintenance, pest control, recreation facilities and reserve fund; Association amenities: beach rights, bike storage, barbecue, picnic area, pickleball, shuffleboard court, storage, tennis courts, management; Condo hotel community; Elevator; Near hotel/motel

Exterior

• Security: Security/high-impact doors
• Utilities: Cable available; Public water (assessment paid); Sewer via assessment paid
• Home design: Condo (multi-story community); 4 total stories; Entry on level 2; West-facing; East exposure; Has waterfront view (Gulf); Has view; Resale property
• Construction: Block, concrete and stucco construction; Built-up and flat roof
• Exterior features: Courtyard; Security/high-impact doors; Outdoor grill; Patio; Storage; Tennis court(s); Lanai; Screened porch; Porch

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Refrigerator (with ice maker); Self-cleaning oven
• Bedrooms: Guest quarters
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Electric cooling
• Interior features: Furnished; Breakfast bar; Built-in features; Living/dining room; Tub with shower; High-speed internet; Split bedroom layout; Display windows; Impact glass
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $759k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $759k).
• Recommended offer: $691k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.8% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: housing D+, amenities F, 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: 526 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $5k of loan paydown is wiped out by about $23k 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 99 days — a 9% lower offer ($691k) is reasonable based on typical stale-listing flexibility.
• 2 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 $520k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $690,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.38% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-6,506
• Equity at exit: $113,169

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $146,873
• Equity at exit: $65,624

Cash invested: $212,520 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $10,500 medium
• Mortgage (P&I): −$3,980
• Tax from tax record: −$657 /mo · $7,889/yr
• Insurance: −$316
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,100
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $1,815

Break-even live

Break-even rent $8,203

Max offer price $759,000

Occupancy floor 78%

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: $189,750
• Closing costs: $22,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	23d	1	0.36mi

HOA detail condo

• Monthly dues: $1,100 · $13,200/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-17
   days on market $759,000 Active 99 DOM
2. 2026-06-16
   days on market $759,000 Active 98 DOM
3. 2026-06-15
   days on market $759,000 Active 97 DOM
4. 2026-06-13
   days on market $759,000 Active 95 DOM
5. 2026-06-10
   days on market $759,000 Active 92 DOM
6. 2026-06-09
   days on market $759,000 Active 91 DOM
7. 2026-06-07
   days on market $759,000 Active 89 DOM
8. 2026-06-03
   days on market $759,000 Active 85 DOM
9. 2026-06-02
   days on market $759,000 Active 84 DOM
10. 2026-06-01
    days on market $759,000 Active 83 DOM
11. 2026-06-01
    days on market $759,000 Active 82 DOM
12. 2026-03-10
    listed $759,000 Active
13. 2025-08-17
    historical
14. 2025-03-17
    price $849,000
15. 2025-02-17
    listed $895,000 Active
16. 2016-12-05
    soldstatus $520,000
17. 2006-03-09
    soldstatus $657,000
18. 2004-07-23
    soldstatus $500,000
19. 1999-10-12
    soldstatus $405,000
20. 1996-01-08
    soldstatus $246,000
21. 1995-12-01
    soldstatus $246,000

ⓘ 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: $7,889 · $657/mo
• Projected year-2 tax: $7,889 · $657/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°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: $126,000
• − Mortgage interest: −$42,516
• − Property taxes: −$7,889
• − Insurance: −$8,914
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$13,200
• − Depreciation: −$22,080
• Taxable income: $11,242
• Est. tax owed @ 24.0%: −$2,698
• After-tax cash flow: $19,076/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 — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing D+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• City population: 6,402
• Population (ZIP): 6,402

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• 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

+208.5% since first listed

10 events — show timeline

• 2026-03-10 Listed $759,000 FORTMLS
• 2025-08-17 Listing Removed — FORTMLS
• 2025-03-17 Price Changed $849,000 FORTMLS
• 2025-02-17 Listed $895,000 FORTMLS
• 2016-12-05 Sold (Public Records) $520,000 Public Records
• 2006-03-09 Sold (Public Records) $657,000 Public Records
• 2004-07-23 Sold (Public Records) $500,000 Public Records
• 1999-10-12 Sold (Public Records) $405,000 Public Records
• 1996-01-08 Sold (Public Records) $246,000 Public Records
• 1995-12-01 Sold (Public Records) $246,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $7,889 · +1020.7% YoY. Source: county tax records.