2445 W Gulf Dr Unit 5D · Sanibel, FL 33957

$980,000

2 bd · 2.0 ba · 1,243 sqft · Condo public records · 121 Days on market

Built 1974 $1798/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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

Key facts

• Quartz countertops
• Recently remodeled
• $1,798 HOA

Tags

• DIRECT BEACHFRONT ACCESS
• PANORAMIC OCEAN VISTAS
• RESORT STYLE AMENITIES
• RECENTLY REMODELED
• QUARTZ COUNTERTOPS
• KITCHENAID APPLIANCES

Property features AI

Finance

• Financial info: Pets allowed on a conditional basis (owners only — contact for details)
• HOA & community: Quarterly association fee; Association covers management, cable TV, internet, legal/accounting, grounds maintenance, pest control, recreation facilities, sewer, trash and water; Community amenities: beach rights and access, clubhouse, sport court, barbecue and picnic areas, pickleball, pool, spa/hot tub, storage, tennis courts, on-site management, elevator, near hotel/motel; 141 units in the community; Condo-hotel community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Security/high-impact doors; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Condominium (multi-unit community); 4-story building; Entry level: 1; Faces northwest; Has a view; Southeast exposures
• Construction: Block, concrete and stucco construction; Built-up and flat roof
• Exterior features: Courtyard; Storage; Tennis court(s); Lanai; Porch; Screened patio/porch; Smoke detectors; Pond on lot; Zero lot line; Community pool

Interior

• Kitchen: Electric cooktop; Range; Microwave; Dishwasher; Garbage disposal; Icemaker; Refrigerator; Kitchen island
• Bedrooms: Screened porch (room type); Great room (room type)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Tray ceilings; Dual sinks; Kitchen island; Open living/dining area; Separate shower (shower only); Cable TV available; Window treatments; High-speed internet available; Sliding windows; Impact glass windows; Window coverings; Furnished
• Laundry & utility: Washer; Dryer; Laundry inside unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $980k.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $980k).
• Recommended offer: $862k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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: 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.
• Zoned schools: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 526 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $7k of loan paydown is wiped out by about $29k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $274k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($862k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $675k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $862,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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: 1.88% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.24%
• DSCR: 2.17
• GRM: 4.4

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $220,606
• Equity at exit: $146,121

10-year hold

• IRR: 28.1%
• Equity multiple: 3.49×
• Total profit: $684,600
• Equity at exit: $84,732

Cash invested: $274,400 (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: 4.4×

Monthly cashflow live

• Estimated rent: $18,445 medium
• Mortgage (P&I): −$5,139
• Tax est. 1.5%: −$1,225 /mo · $14,700/yr
• Insurance: −$408
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,798
• Vacancy / Maint / Mgmt: −$3,873
• Net cashflow: $5,935

Break-even live

Break-even rent $10,933

Max offer price $980,000

Occupancy floor 63%

Sensitivity live

Price	-10% $6,612	-5% $6,273	+0% $5,935	+5% $5,596	+10% $5,257
Rent	-10% $4,478	-5% $5,206	+0% $5,935	+5% $6,663	+10% $7,392
Rate	-1.0pp $6,428	-0.5pp $6,184	base $5,935	+0.5pp $5,681	+1.0pp $5,422

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: $245,000
• Closing costs: $29,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	25d	1	0.02mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	25d	1	0.07mi
1992 Roseate Ln Unit 414 Sanibel, FL	2.0	1.0	900	$1,400	$1.56	5d	1	1.11mi

HOA detail condo

• Monthly dues: $1,798 · $21,576/yr
• Likely covers: waterinternetcablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-22
   pricedays on market $980,000 Active 121 DOM
2. 2026-06-17
   days on market $1,025,000 Active 117 DOM
3. 2026-06-16
   days on market $1,025,000 Active 116 DOM
4. 2026-06-15
   days on market $1,025,000 Active 115 DOM
5. 2026-06-13
   days on market $1,025,000 Active 113 DOM
6. 2026-06-10
   days on market $1,025,000 Active 110 DOM
7. 2026-06-09
   days on market $1,025,000 Active 109 DOM
8. 2026-06-07
   days on market $1,025,000 Active 107 DOM
9. 2026-06-02
   days on market $1,025,000 Active 102 DOM
10. 2026-06-01
    days on market $1,025,000 Active 101 DOM
11. 2026-06-01
    days on market $1,025,000 Active 100 DOM
12. 2026-02-19
    listed $1,025,000 Active
13. 2022-06-10
    historical
14. 2021-12-10
    listed $1,300,000 Active
15. 2016-01-06
    price $675,000 737-char remark

    Show marketing remark (737 chars)

    Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

16. 2016-01-06
    soldstatus $675,000 Sold 737-char remark

    Show marketing remark (737 chars)

    Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

17. 2016-01-06
    soldstatus $675,000

    Show marketing remark (737 chars)

    Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

18. 2016-01-05
    price $725,000 737-char remark

    Show marketing remark (737 chars)

    Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

19. 2015-11-04
    status Pending With Contingencies 737-char remark

    Show marketing remark (737 chars)

    Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

20. 2015-10-23
    listed $725,000 Active 737-char remark

    Show marketing remark (737 chars)

    Feel the sand on your feet and watch the sunsets. Lots of Amenities! This 2 bedroom, 2 full bath vacation getaway awaits your arrival. Ground floor, easily accessible with the Gulf of Mexico down the paver path. Lush landscaping, fun pool area with sundecks, tennis, community room & new Cat6, fiber optic cable with live streaming internet (the 1st on Sanibel) are all offered here at Pointe Santo. Guest Room with dual entrance bath, Master Suite with separate dressing area, vanity & slider right to screened lanai. Living, Dining area bringing a day of water fun to a relaxing moment. Located on the treasured West Gulf Drive and minutes to all dining, shopping, & fun your heart desires. Come on, see us on Sanibel!

21. 2015-06-01
    historical
22. 2015-01-07
    listed $675,000 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) · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $221,343
• − Mortgage interest: −$54,895
• − Property taxes: −$14,700
• − Insurance: −$5,698
• − Repairs & maintenance: −$17,707
• − Management: −$17,707
• − HOA: −$21,576
• − Depreciation: −$28,509
• Taxable income: $60,550
• Est. tax owed @ 24.0%: −$14,532
• After-tax cash flow: $56,684/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

+51.9% since first listed

11 events — show timeline

• 2026-02-19 Listed $1,025,000 FORTMLS
• 2022-06-10 Listing Removed — FORTMLS
• 2021-12-10 Listed $1,300,000 FORTMLS
• 2016-01-06 Price Changed $675,000 FORTMLS
• 2016-01-06 Sold (Public Records) $675,000 Public Records
• 2016-01-06 Sold (MLS) $675,000 FORTMLS
• 2016-01-05 Price Changed $725,000 FORTMLS
• 2015-11-04 Pending — FORTMLS
• 2015-10-23 Listed $725,000 FORTMLS
• 2015-06-01 Listing Removed — FORTMLS
• 2015-01-07 Listed $675,000 FORTMLS

Property tax history

-17.3%/yr

Latest (2025): $1,003 · -0.4% YoY. Source: county tax records.