2781 Bruce St · Matlacha, FL 33993

$474,900

2 bd · 2.0 ba · 1,272 sqft · SingleFamily public records · 175 Days on market

Built 1982 3,963 sqft lot Est $472k · at est.

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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 +17.7/30.0
• ARV discount +7.2/15.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• 1% rule +4.2/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you yearn to live your life with a laid back routine, ruled by sunshine, gentle breezes and sunset evenings with friends, among gently swaying palms, then this pristine, move-in ready island home, situated on one of the widest canals in Matlacha, is waiting for you. Perfect snowbird or rental property. Beautifully furnished, well equipped, turn key and surrounded by manicured landscaping. Two walk-in closets. Roll down hurricane shutters. Launch the two quality kayaks, included with the home, from your own private kayak dock. 7500# boat lift. Entertain waterside on the spacious dock. A short walk to Downtown Matlacha with its array of tropically painted cottages. Walk to restaurants, many offering seafood, fresh from local waters. Visit quaint shops, art galleries, alfresco waterfront dining with live music. Seasonal renters will return if home is available.

Key facts

• Boat lift
• Private dock
• Gulf access

Tags

• GULF ACCESS
• PRIVATE DOCK
• BOAT LIFT
• CANAL VIEWS
• SUNROOM
• FULLY RENOVATED KITCHEN

Property features AI

Finance

• Other: Waterfront property with canal access, navigable water, and seawall; Lot is rectangular on a cul-de-sac (approx. 50 x 80); Lot exposure: Southeast
• Financial info: Pets are allowed
• HOA & community: No association fee reported; Community features include boat facilities and non-gated community

Exterior

• Parking: Attached garage (1 covered space); Driveway parking; Paved parking with two spaces (one covered)
• Security: Smoke detectors
• Utilities: Public water; Public sewer (assessment paid); Cable available; High-speed internet available
• Home design: Single-story home; Entry level: 1; Resale property; Northwest-facing entry; Has a view
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Storage; Exterior shutters (manual); Lanai and screened porch; Covered porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator with ice maker; Icemaker
• Bedrooms: Bedroom on main level; Multiple primary suites; Main level primary bedroom
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Three full bathrooms; Separate shower and tub/shower combinations; Shower-only option in at least one bath
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Attic with pull-down stairs; Vaulted ceilings; Cable TV available; Window treatments; Window types include single-hung and sliding; Furnished
• Laundry & utility: Inside laundry with washer and dryer; Laundry tub

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $475k.

Deal economics

• At list price, monthly cash flow is $-42 ($-501/yr) — negative.
• To cash-flow at today's rent, offer at most $468k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $438k (7.8% below list).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#824 in FL) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: amenities F, commute F, health & safety D-.
• Market conditions: Rents falling (-5.5%/yr); 2652 active listings in the ZIP; 5 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 $4,378/mo this rent would consume 58% of the median local household income ($91k/yr) (locally 286% 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 $3k of loan paydown is wiped out by about $14k 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 175 days — a 12% lower offer ($418k) 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.
• Current owner paid $355k; 34% 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 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $417,912 (12.0% 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 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.92% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $471,912
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2703 Clyde St	0.12mi	2/2.0	1,403 (+10%)	9mo	$410,000	$292	70
11924 Island Ave	0.30mi	2/2.0	1,343 (+6%)	15mo	$825,000	$614	65
2709 Clyde St	0.13mi	2/1.5	1,147 (-10%)	18mo	$425,000	$371	60

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: -20.5%
• Equity multiple: 0.31×
• Total profit: $-92,241
• Equity at exit: $70,809

10-year hold

• IRR: -23.2%
• Equity multiple: 0.00×
• Total profit: $-132,512
• Equity at exit: $41,061

Cash invested: $132,972 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2652
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $4,378 medium
• Mortgage (P&I): −$2,490
• Tax from tax record: −$385 /mo · $4,624/yr
• Insurance: −$198
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $-42

Break-even live

Break-even rent $4,431

Max offer price $467,529

Occupancy floor 96%

Sensitivity live

Price	-10% $227	-5% $93	+0% $-42	+5% $-176	+10% $-311
Rent	-10% $-388	-5% $-215	+0% $-42	+5% $131	+10% $304
Rate	-1.0pp $197	-0.5pp $79	base $-42	+0.5pp $-165	+1.0pp $-290

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: $118,725
• Closing costs: $14,247
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2758 Bruce St Matlacha, FL	3.0	2.0	1404	$5,500	$3.92	24d	1	0.03mi
2669 Coco Plum Dr Matlacha, FL	3.0	2.0	1533	$4,800	$3.13	20d	1	0.41mi
4743 Pine Island Rd NW Matlacha, FL	2.0	2.5	1400	$12,000	$8.57	24d	1	0.60mi
2579 3rd St Matlacha, FL	3.0	3.0	1402	$5,500	$3.92	24d	1	0.69mi
2585 3rd St Matlacha, FL	2.0	2.0	936	$4,500	$4.81	24d	1	0.70mi

Listing history 10 events

1. 2026-03-10
   price $474,900
2. 2025-12-04
   listed $499,000 Active
3. 2020-04-08
   soldstatus $355,000
4. 2020-04-07
   soldstatus $355,000 Closed 873-char remark

   Show marketing remark (873 chars)

   If you yearn to live your life with a laid back routine, ruled by sunshine, gentle breezes and sunset evenings with friends, among gently swaying palms, then this pristine, move-in ready island home, situated on one of the widest canals in Matlacha, is waiting for you. Perfect snowbird or rental property. Beautifully furnished, well equipped, turn key and surrounded by manicured landscaping. Two walk-in closets. Roll down hurricane shutters. Launch the two quality kayaks, included with the home, from your own private kayak dock. 7500# boat lift. Entertain waterside on the spacious dock. A short walk to Downtown Matlacha with its array of tropically painted cottages. Walk to restaurants, many offering seafood, fresh from local waters. Visit quaint shops, art galleries, alfresco waterfront dining with live music. Seasonal renters will return if home is available.

5. 2020-01-11
   status Pending 873-char remark

   Show marketing remark (873 chars)

   If you yearn to live your life with a laid back routine, ruled by sunshine, gentle breezes and sunset evenings with friends, among gently swaying palms, then this pristine, move-in ready island home, situated on one of the widest canals in Matlacha, is waiting for you. Perfect snowbird or rental property. Beautifully furnished, well equipped, turn key and surrounded by manicured landscaping. Two walk-in closets. Roll down hurricane shutters. Launch the two quality kayaks, included with the home, from your own private kayak dock. 7500# boat lift. Entertain waterside on the spacious dock. A short walk to Downtown Matlacha with its array of tropically painted cottages. Walk to restaurants, many offering seafood, fresh from local waters. Visit quaint shops, art galleries, alfresco waterfront dining with live music. Seasonal renters will return if home is available.

6. 2019-12-09
   price $369,000 873-char remark

   Show marketing remark (873 chars)

   If you yearn to live your life with a laid back routine, ruled by sunshine, gentle breezes and sunset evenings with friends, among gently swaying palms, then this pristine, move-in ready island home, situated on one of the widest canals in Matlacha, is waiting for you. Perfect snowbird or rental property. Beautifully furnished, well equipped, turn key and surrounded by manicured landscaping. Two walk-in closets. Roll down hurricane shutters. Launch the two quality kayaks, included with the home, from your own private kayak dock. 7500# boat lift. Entertain waterside on the spacious dock. A short walk to Downtown Matlacha with its array of tropically painted cottages. Walk to restaurants, many offering seafood, fresh from local waters. Visit quaint shops, art galleries, alfresco waterfront dining with live music. Seasonal renters will return if home is available.

7. 2019-04-12
   listed $379,000 Active 873-char remark

   Show marketing remark (873 chars)

   If you yearn to live your life with a laid back routine, ruled by sunshine, gentle breezes and sunset evenings with friends, among gently swaying palms, then this pristine, move-in ready island home, situated on one of the widest canals in Matlacha, is waiting for you. Perfect snowbird or rental property. Beautifully furnished, well equipped, turn key and surrounded by manicured landscaping. Two walk-in closets. Roll down hurricane shutters. Launch the two quality kayaks, included with the home, from your own private kayak dock. 7500# boat lift. Entertain waterside on the spacious dock. A short walk to Downtown Matlacha with its array of tropically painted cottages. Walk to restaurants, many offering seafood, fresh from local waters. Visit quaint shops, art galleries, alfresco waterfront dining with live music. Seasonal renters will return if home is available.

8. 2008-04-25
   soldstatus $319,500 540-char remark

   Show marketing remark (540 chars)

   THIS IS YOUR IDEAL WATERFRONT HOME. Neat and clean, ready for your possession. A CBS 2 bedroom, 3 bath home with many upgrades including plumbing, paint, flooring, lighting and much more. Cool and breezy throughout. 2 Master bedrooms plus den that converts to additional guest room with its own full bath. Beautifully landscaped with full dock and covered 7500# boat lift. Furnishings are negotiable and seller will consider owner financing. Please use AS IS contract, inspections welcome. MAKE YOUR DREAMS COME TRUE AS YOU TAKE POSSESSION.

9. 2008-03-26
   price $339,900 540-char remark

   Show marketing remark (540 chars)

   THIS IS YOUR IDEAL WATERFRONT HOME. Neat and clean, ready for your possession. A CBS 2 bedroom, 3 bath home with many upgrades including plumbing, paint, flooring, lighting and much more. Cool and breezy throughout. 2 Master bedrooms plus den that converts to additional guest room with its own full bath. Beautifully landscaped with full dock and covered 7500# boat lift. Furnishings are negotiable and seller will consider owner financing. Please use AS IS contract, inspections welcome. MAKE YOUR DREAMS COME TRUE AS YOU TAKE POSSESSION.

10. 1981-03-01
    soldstatus $23,000

ⓘ 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: $4,624 · $385/mo
• Projected year-2 tax: $4,624 · $385/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 24 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: $52,533
• − Mortgage interest: −$26,602
• − Property taxes: −$4,624
• − Insurance: −$7,493
• − Repairs & maintenance: −$4,203
• − Management: −$4,203
• − Depreciation: −$13,815
• Taxable loss: −$8,406
• Est. tax savings @ 24.0%: +$2,017
• After-tax cash flow: $1,517/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)

No district data.

Livability — Matlacha

• Score: 59/100
• State rank: #824
• US rank: #20183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Matlacha, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+1964.8% since first listed

10 events — show timeline

• 2026-03-10 Price Changed $474,900 FORTMLS
• 2025-12-04 Listed $499,000 FORTMLS
• 2020-04-08 Sold (Public Records) $355,000 Public Records
• 2020-04-07 Sold (MLS) $355,000 FORTMLS
• 2020-01-11 Pending — FORTMLS
• 2019-12-09 Price Changed $369,000 FORTMLS
• 2019-04-12 Listed $379,000 FORTMLS
• 2008-04-25 Sold (MLS) $319,500 FORTMLS
• 2008-03-26 Price Changed $339,900 FORTMLS
• 1981-03-01 Sold (Public Records) $23,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $4,624 · -15.5% YoY. Source: county tax records.