3704 Broadway #105 · Fort Myers, FL 33901

$79,000

2 bd · 1.0 ba · 962 sqft · Condo public records · 178 Days on market

Built 1972 $540/mo HOA · 40% of rent

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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).

• 1% rule +10.0/10.0
• Cash flow +9.5/30.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOW MONTHLY FEES! CLOSE to Downtown Ft Myers Mid Town Re-Development District, just a few blocks from Edison Mall and Fort Myers High School. New A/C in 2015 New Hot Water heater in 2017. Sliding glass doors overlooking patio and garden area, which lead to the community pool and grilling area. Windsor West complex is proud of its beautiful tropical garden with nice heated pool in spacious courtyard. It has secure lobbies and is fully fenced. Amenities include common laundry on each floor, exercise room, community room, sauna. Windsor West is located across from the Park with serene lake and kids playground. WHY PAY RENT when you can invest and create your own equity!

Key facts

• Picnic area
• Gated pool
• Brand-new roof

Tags

• GATED POOL
• PICNIC AREA
• LARGE SWIMMING POOL
• ON-SITE LAUNDRY FACILITIES
• BRAND-NEW ROOF
• FRESHLY PAINTED BUILDINGS

Property features AI

Finance

• Financial info: Pets allowed: call/conditional
• HOA & community: Homeowners association with monthly fee; Association fee includes laundry; Association amenities: pool, management; Community features: elevator, non-gated; 40 units in the community

Exterior

• Parking: Assigned parking (one space)
• Security: Fire sprinkler system
• Utilities: Septic tank; Assessment-paid water; Cable not available
• Home design: 2-story building; Entry on level 1
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Open porch; Community pool; Northeast exposure; Southwest-facing

Interior

• Kitchen: Electric cooktop
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Ceiling fan(s)
• Interior features: Sliding windows; Family/Dining room; Living/Dining room; Pantry; Tub shower
• Laundry & utility: Community laundry included in association

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $-55 ($-664/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (12.4% below list).
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $69k (12.4% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.3% 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents falling (-3.2%/yr); 287 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 31% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k 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 178 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $16k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $61k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,219 (12.4% 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 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.69% ✓
• Cap rate: 5.45%
• Cash-on-cash: -3.00%
• DSCR: 0.87
• GRM: 4.9

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: -28.3%
• Equity multiple: 0.10×
• Total profit: $-19,871
• Equity at exit: $11,779

10-year hold

• IRR: -80.3%
• Equity multiple: -0.60×
• Total profit: $-35,464
• Equity at exit: $6,830

Cash invested: $22,120 (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 33901

• Home prices YoY: -25.9%
• Rents YoY: -3.2%
• Active inventory: 287
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$414
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$33
• HOA: −$540
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $-55

Break-even live

Break-even rent $1,404

Max offer price $69,219

Occupancy floor 99%

Sensitivity live

Price	-10% $-11	-5% $-33	+0% $-55	+5% $-78	+10% $-100
Rent	-10% $-161	-5% $-108	+0% $-55	+5% $-3	+10% $50
Rate	-1.0pp $-16	-0.5pp $-35	base $-55	+0.5pp $-76	+1.0pp $-97

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3706 Broadway Unit A29 Fort Myers, FL	2.0	2.0	949	$1,250	$1.32	25d	1	0.02mi
3706 Broadway #29 Fort Myers, FL	2.0	2.0	949	$1,150	$1.21	5d	1	0.02mi
3706 Broadway #30 Fort Myers, FL	2.0	2.0	962	$1,100	$1.14	25d	1	0.02mi
3706 Broadway #18 Fort Myers, FL	1.0	1.0	752	$1,000	$1.33	25d	1	0.02mi
3704 Broadway #101 Fort Myers, FL	2.0	1.0	910	$1,100	$1.21	25d	1	0.03mi
3704 Broadway #310 Fort Myers, FL	1.0	1.0	702	$1,000	$1.42	25d	1	0.03mi
2121 Collier Ave Fort Myers, FL	2.0	2.0	958	$1,375	$1.44	13d	4	0.11mi
2121 Collier Ave Fort Myers, FL	2.0	2.0	958	$1,448	$1.51	5d	3	0.11mi
3891 Solomon Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	856	$1,390	$1.62	3d	23	0.22mi
3726 Central Ave Fort Myers, FL	1.0–2.0	1.0–2.0	907	$1,700	$1.87	25d	1	0.23mi
33 Broadway Cir Fort Myers, FL	3.0	2.0	1122	$1,800	$1.60	17d	1	0.33mi
1927 Hill Ave Unit 8 Fort Myers, FL	2.0	2.0	880	$1,150	$1.31	25d	1	0.36mi
1927 Hill Ave Fort Myers, FL	2.0	2.0	800	$1,150	$1.44	25d	1	0.36mi
3585 Central Ave Fort Myers, FL	1.0–2.0	1.0–2.0	1000	$1,450	$1.45	25d	1	0.37mi
2346 Winkler Ave Fort Myers, FL	1.0–3.0	1.0–2.0	812	$1,694	$2.09	3d	28	0.38mi
1905 Winkler Ave Unit 7 Fort Myers, FL	2.0	1.0	1000	$1,400	$1.40	25d	1	0.38mi
4105 Residence Dr #719 Fort Myers, FL	1.0	1.0	697	$1,095	$1.57	5d	1	0.43mi
4105 Residence Dr Fort Myers, FL	1.0	1.0	757	$1,098	$1.45	16d	2	0.43mi
1852 Golfview Ave Fort Myers, FL	1.0	1.0	800	$1,099	$1.37	16d	2	0.43mi
4109 Residence Dr Fort Myers, FL	2.0–3.0	2.0	1062	$1,350	$1.27	16d	3	0.44mi
4109 Residence Dr Fort Myers, FL	2.0–3.0	2.0	1062	$1,350	$1.27	5d	2	0.44mi
4113 Residence Dr #211 Fort Myers, FL	2.0	2.0	1080	$1,400	$1.30	16d	1	0.46mi
4121 Residence Dr #311 Fort Myers, FL	1.0	1.0	697	$1,300	$1.87	5d	1	0.49mi
4121 Residence Dr Fort Myers, FL	1.0	1.0	697	$1,200	$1.72	25d	2	0.49mi
3835 Lake St Fort Myers, FL	3.0	1.0	976	$1,350	$1.38	13d	1	0.50mi
4135 Residence Dr #618 Fort Myers, FL	3.0	2.0	1121	$1,700	$1.52	25d	1	0.51mi
4127 Residence Dr Fort Myers, FL	2.0	2.0	1003	$1,400	$1.40	25d	1	0.52mi
2650 Park Windsor Dr #111 Fort Myers, FL	2.0	2.0	752	$1,300	$1.73	25d	1	0.58mi
2366 E Mall Dr #406 Fort Myers, FL	2.0	2.0	1092	$1,500	$1.37	25d	1	0.63mi
1840 Maravilla Ave Unit 1 Fort Myers, FL	1.0	1.0	660	$1,050	$1.59	25d	1	0.63mi
2680 Park Windsor Dr #503 Fort Myers, FL	2.0	2.0	752	$1,300	$1.73	3d	1	0.63mi
2690 Park Windsor Dr #601 Fort Myers, FL	2.0	2.0	752	$1,374	$1.83	25d	1	0.64mi
1935 Ricardo Ave Fort Myers, FL	2.0	1.0	810	$895	$1.10	12d	1	0.66mi
1830 Maravilla Ave Fort Myers, FL	1.0–2.0	1.0–2.0	809	$1,290	$1.59	16d	9	0.66mi
1830 Maravilla Ave Fort Myers, FL	1.0–2.0	1.0–2.0	785	$1,290	$1.64	4d	8	0.66mi
2700 Park Windsor Dr #713 Fort Myers, FL	2.0	2.0	752	$1,500	$1.99	17d	1	0.66mi
1942 Passaic Ave Apt 8 Fort Myers, FL	2.0	1.0	750	$995	$1.33	25d	1	0.67mi
1849 Maravilla Ave Fort Myers, FL	2.0	2.0	956	$1,375	$1.44	3d	2	0.67mi
2835 Winkler Ave Fort Myers, FL	1.0	1.0	662	$900	$1.36	3d	1	0.85mi
3835 Arlington St Fort Myers, FL	2.0	1.0	1062	$1,850	$1.74	25d	1	0.86mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-05-13
   status Pending
2. 2026-04-23
   price $79,000
3. 2026-04-22
   price $89,000
4. 2026-04-10
   price $95,000
5. 2026-04-08
   status Active
6. 2026-03-21
   status Pending
7. 2026-03-16
   price $99,000
8. 2026-02-17
   price $105,000
9. 2026-01-02
   price $110,000
10. 2025-10-29
    listed $95,000 Active
11. 2025-07-17
    historical
12. 2025-07-01
    price $82,900
13. 2025-05-13
    price $83,900
14. 2025-04-15
    price $84,900
15. 2025-04-01
    price $88,900
16. 2025-02-11
    price $95,000
17. 2024-12-17
    listed $120,000 Active
18. 2020-10-02
    soldstatus $61,000
19. 2020-09-30
    soldstatus $61,000 Closed 675-char remark

    Show marketing remark (675 chars)

    LOW MONTHLY FEES! CLOSE to Downtown Ft Myers Mid Town Re-Development District, just a few blocks from Edison Mall and Fort Myers High School. New A/C in 2015 New Hot Water heater in 2017. Sliding glass doors overlooking patio and garden area, which lead to the community pool and grilling area. Windsor West complex is proud of its beautiful tropical garden with nice heated pool in spacious courtyard. It has secure lobbies and is fully fenced. Amenities include common laundry on each floor, exercise room, community room, sauna. Windsor West is located across from the Park with serene lake and kids playground. WHY PAY RENT when you can invest and create your own equity!

20. 2020-09-01
    status Pending 675-char remark

    Show marketing remark (675 chars)

    LOW MONTHLY FEES! CLOSE to Downtown Ft Myers Mid Town Re-Development District, just a few blocks from Edison Mall and Fort Myers High School. New A/C in 2015 New Hot Water heater in 2017. Sliding glass doors overlooking patio and garden area, which lead to the community pool and grilling area. Windsor West complex is proud of its beautiful tropical garden with nice heated pool in spacious courtyard. It has secure lobbies and is fully fenced. Amenities include common laundry on each floor, exercise room, community room, sauna. Windsor West is located across from the Park with serene lake and kids playground. WHY PAY RENT when you can invest and create your own equity!

21. 2020-08-30
    listed $59,000 Active 675-char remark

    Show marketing remark (675 chars)

    LOW MONTHLY FEES! CLOSE to Downtown Ft Myers Mid Town Re-Development District, just a few blocks from Edison Mall and Fort Myers High School. New A/C in 2015 New Hot Water heater in 2017. Sliding glass doors overlooking patio and garden area, which lead to the community pool and grilling area. Windsor West complex is proud of its beautiful tropical garden with nice heated pool in spacious courtyard. It has secure lobbies and is fully fenced. Amenities include common laundry on each floor, exercise room, community room, sauna. Windsor West is located across from the Park with serene lake and kids playground. WHY PAY RENT when you can invest and create your own equity!

22. 2013-10-04
    soldstatus $30,000
23. 2007-08-09
    soldstatus $120,000
24. 2005-03-04
    soldstatus $78,900
25. 2002-03-20
    soldstatus $79,000

ⓘ 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: $1,464 · $122/mo
• Projected year-2 tax: $1,464 · $122/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $16,008
• − Mortgage interest: −$4,425
• − Property taxes: −$1,464
• − Insurance: −$395
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − HOA: −$6,480
• − Depreciation: −$2,298
• Taxable loss: −$1,616
• Est. tax savings @ 24.0%: +$388
• After-tax cash flow: $-277/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): 24,481
• Household income: $51,816
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1782.0

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 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 23% Black 22% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4% Cuban 4%
• Common ancestry: Hispanic 7% Estonian 2% Lithuanian 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 18% French/Haitian/Cajun 8% Other Indo-European 4%

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: ▼ -108.70%
• Current HPI: 311.8283
• Rent YoY: ▼ -3.23%
• 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

+0.0% since first listed

25 events — show timeline

• 2026-05-13 Pending — FORTMLS
• 2026-04-23 Price Changed $79,000 FORTMLS
• 2026-04-22 Price Changed $89,000 FORTMLS
• 2026-04-10 Price Changed $95,000 FORTMLS
• 2026-04-08 Relisted — FORTMLS
• 2026-03-21 Pending — FORTMLS
• 2026-03-16 Price Changed $99,000 FORTMLS
• 2026-02-17 Price Changed $105,000 FORTMLS
• 2026-01-02 Price Changed $110,000 FORTMLS
• 2025-10-29 Listed $95,000 FORTMLS
• 2025-07-17 Listing Removed — FORTMLS
• 2025-07-01 Price Changed $82,900 FORTMLS
• 2025-05-13 Price Changed $83,900 FORTMLS
• 2025-04-15 Price Changed $84,900 FORTMLS
• 2025-04-01 Price Changed $88,900 FORTMLS
• 2025-02-11 Price Changed $95,000 FORTMLS
• 2024-12-17 Listed $120,000 FORTMLS
• 2020-10-02 Sold (Public Records) $61,000 Public Records
• 2020-09-30 Sold (MLS) $61,000 FORTMLS
• 2020-09-01 Pending — FORTMLS
• 2020-08-30 Listed $59,000 FORTMLS
• 2013-10-04 Sold (Public Records) $30,000 Public Records
• 2007-08-09 Sold (Public Records) $120,000 Public Records
• 2005-03-04 Sold (Public Records) $78,900 Public Records
• 2002-03-20 Sold (Public Records) $79,000 Public Records

Property tax history

+25.3%/yr

Latest (2025): $1,464 · -3.5% YoY. Source: county tax records.