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10701 Halfmoon Shoal Rd #203
D Composite 40.36
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).

  • ARV discount +15.0/15.0
  • Schools +5.4/10.0
  • Cash flow +5.0/30.0
  • 1% rule +4.7/10.0
  • Livability +4.0/5.0
  • Condition / age +4.0/5.0
  • Rent growth +2.3/5.0
  • DSCR +0.0/10.0
  • Appreciation +0.0/10.0

$270,000

10701 Halfmoon Shoal Rd #203 · Estero, FL 34135
2 bd · 2.0 ba · 1,268 sqft · Condo · 90 Days on market
Built 2001 Good condition $213/sqft · 28% below area Est $377k · 28% under $835/mo HOA · 32% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Experience relaxed Florida living in this inviting 2nd-floor garden condo located in the sought-after community of Lighthouse Bay. Filled with natural light and cheerful coastal-inspired accents in shades of blue, green, and yellow, this 2-bedroom plus den, 2-bath residence offers a warm and welcoming atmosphere. A detached covered carport adds everyday convenience, while the den features stylish wood and glass sliding barn doors, creating the perfect flex space for guests, a home office, or media room. Comfortable carpeting extends throughout the main living spaces, with tile flooring in the kitchen and bathrooms for easy maintenance.

Key facts

  • Private lanai access
  • Tile flooring
  • Walk-in shower

Tags

DETACHED COVERED CARPORTTILE FLOORINGWHITE CABINETRYSTAINLESS STEEL APPLIANCESPRIVATE LANAI ACCESSWALK-IN SHOWER

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $270k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-637 ($-8k/yr) — negative.
  • To cash-flow at today's rent, offer at most $178k (34.1% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (3.2% below list).
  • Recommended offer: $178k (34.1% below list) — sets the bar for cash-flow.

Location & tenants

  • Location reads 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
  • 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: Pinewoods Elementary School (math 81% / reading 74%, grade A, #163 of 2,144 statewide, top 8%, 1,089 students, 25% 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) — zoned schools average 39% FRL vs 57% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
  • Market conditions: Rents soft (-0.6%/yr); 1001 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
  • This rent runs 34% of the median local income ($91k/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 $2k of loan paydown is wiped out by about $8k 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 90 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 32% of rent.
  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $177,796 (34.1% 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 90 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
  3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  4. 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?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. 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?
  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
0.97%
Cap rate
3.46%
Cash-on-cash
-10.11%
DSCR
0.55
GRM
8.6

CMA / ARV

ARV (median comp)
$377,130
List price
$270,000
Delta
-28.41%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
23810 Costa Del Sol Rd #203 0.36mi 2/2.0 1,276 (+1%) 5mo $237,500 $186 78
23731 Old Port Rd #103 0.08mi 2/2.0 1,103 (-13%) 0mo $244,900 $222 74
23741 Old Port Rd #103 0.10mi 2/2.0 1,100 (-13%) 3mo $299,000 $272 70
10911 Oak Island Rd #201 0.30mi 2/2.0 1,554 (+23%) 3mo $375,000 $241 58
9261 Spring Run Blvd #2409 1.48mi 2/2.0 1,310 (+3%) 4mo $425,000 $324 56
9209 Spring Run Blvd #2003 1.49mi 2/2.0 1,333 (+5%) 4mo $270,000 $203 53
9189 Spring Run Blvd #1903 1.47mi 2/2.0 1,333 (+5%) 7mo $393,000 $295 50
23506 Sandycreek Ter #108 1.25mi 2/2.0 1,368 (+8%) 13mo $340,000 $249 41
23511 Sandycreek Ter #1109 1.23mi 2/2.0 1,513 (+19%) 3mo $350,000 $231 37
9175 Spring Run Blvd #1803 1.44mi 2/2.0 1,480 (+17%) 4mo $380,000 $257 37
23576 Sandycreek Ter #1501 1.35mi 2/2.0 1,458 (+15%) 9mo $450,000 $309 32
9049 Spring Run Blvd 1.14mi 3/2.0 (+1) 1,478 (+17%) 4mo $535,000 $362 32

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
-39.8%
Equity multiple
-0.21×
Total profit
$-91,438
Equity at exit
$40,258
10-year hold
IRR
Equity multiple
-1.11×
Total profit
$-159,222
Equity at exit
$23,345

Cash invested: $75,600 (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.

Active competition Active MLS

For sale now
3 active · 2 under contract
Median asking
$429,000 ($283/sqft)
Median days on market
134 d
This list price
lowest-priced of the active set
ARV vs active asking
+5.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34135

Rents YoY
-0.6%
Active inventory
1001
Price-to-rent
8.6×

Monthly cashflow live

Estimated rent
$2,612 medium interval (Pro) →
Mortgage (P&I)
$1,416
Tax est. 1.5%
$338 /mo · $4,050/yr
Insurance
$112
HOA
$835
Vacancy / Maint / Mgmt
$549
Net cashflow
$-637

Break-even live

Break-even rent $3,419
Max offer price $177,796
Occupancy floor

Sensitivity live

Price -10% $-451 -5% $-544 +0% $-637 +5% $-730 +10% $-824
Rent -10% $-844 -5% $-740 +0% $-637 +5% $-534 +10% $-431
Rate -1.0pp $-501 -0.5pp $-569 base $-637 +0.5pp $-707 +1.0pp $-778

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
$67,500
Closing costs
$8,100
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 14 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
10701 Halfmoon Shoal Rd #9204 Estero, FL 2.0 2.0 1292 $5,700 $4.41 32d 1 0.03mi
23501 Wisteria Pointe Dr #1206 Estero, FL 3.0 2.0 1560 $7,000 $4.49 72d 1 0.25mi
23810 Marbella Bay Rd #102 Estero, FL 2.0 2.0 1103 $5,000 $4.53 72d 1 0.35mi
23821 Marbella Bay Rd Ofc Season Bonita Springs, FL 2.0 2.0 1279 $2,500 $1.95 72d 1 0.37mi
23821 Marbella Bay Rd #102 Estero, FL 2.0 2.0 1279 $5,750 $4.50 72d 1 0.37mi
10910 Santa Margherita Rd #102 Estero, FL 3.0 2.0 1279 $2,200 $1.72 72d 1 0.37mi
23810 Costa del Sol Rd #203 Estero, FL 2.0 2.0 1276 $2,400 $1.88 65d 1 0.39mi
10911 Santa Margherita Rd #102 Estero, FL 2.0 2.0 1279 $2,800 $2.19 72d 1 0.40mi
23785 Clear Spring Ct #2305 Estero, FL 3.0 2.0 1811 $7,500 $4.14 72d 1 0.58mi
9030 Spring Run Blvd #508 Estero, FL 2.0 2.0 1333 $6,500 $4.88 72d 1 1.08mi
23526 Sandycreek Ter #304 Estero, FL 2.0 2.0 1368 $6,500 $4.75 72d 1 1.29mi
23541 Sandycreek Ter #806 Estero, FL 2.0 2.0 1700 $6,000 $3.53 72d 1 1.29mi
23591 Sandycreek Ter #1006 Estero, FL 2.0 2.0 1209 $6,000 $4.96 72d 1 1.32mi
23601 Sandycreek Ter #903 Estero, FL 2.0 2.0 1246 $6,000 $4.82 72d 1 1.35mi

Property features AI

Finance

Other
Part of Lighthouse Bay at The Brooks communityCondo documents cited for measurements and restrictions include architectural and deeded restrictions; no commercial use and no RVs allowed
Financial info
Condo fee paid quarterly
HOA & community
Mandatory HOA (professional management)Quarterly condo feeHOA maintenance covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, master association fee, exterior pest control, repairs, reserves, security, sewer, street lights, street maintenance, trash removal, and waterCommunity amenities include community pool and spa, exercise room, tennis and pickleball courts, basketball, beach club access, lakefront beach, fishing pier, library, community room, sauna, bike/jog paths, BBQ/picnic areas, sidewalks, streetlights, and underground utilitiesTotal annual recurring HOA fees listed

Exterior

Parking
Covered, paved parkingDetached 1-car carport
Security
Gated communityCommunity includes security in HOA maintenance
Utilities
Central waterCentral sewerCable available
Home design
Residential garden apartment in a low-rise building (1–3 stories)Built in 2001Rear exposure faces southUnit/lot number 203
Construction
Concrete block construction
Exterior features
Stucco exteriorMetal roofSingle-hung and sliding windowsElectric storm shuttersGated communityLakefront with water feature viewIrrigation from lake/canal and reclaimed waterPaved road access

Interior

Kitchen
PantryDishwasherDisposalMicrowaveRangeSelf-cleaning ovenRefrigerator/FreezerBreakfast barFormal dining area
Bedrooms
2 bedrooms plus denSplit bedroom floor plan
Flooring
CarpetTile
Bathrooms
2 full bathroomsMaster bathroom with dual sinks and shower (no tub)
Heating & cooling
Central electric heatCentral electric coolingCeiling fans
Interior features
Cable prewire and high-speed internet availablePantrySmoke detectorsVolume ceilingsWalk-in closetTurnkey furnishedScreened lanai/porch
Laundry & utility
Washer and dryer in residenceLaundry area in unit

HOA detail $835/mo · $10,020/yr condo

Assessments
None detected in remarks — confirm with the listing agent.

Listing history 48 events

  1. 2026-08-08
    days on market $270,000 Active 90 DOM
  2. 2026-08-07
    days on market $270,000 Active 89 DOM
  3. 2026-08-06
    days on market $270,000 Active 88 DOM
  4. 2026-08-05
    days on market $270,000 Active 87 DOM
  5. 2026-08-04
    days on market $270,000 Active 86 DOM
  6. 2026-08-03
    days on market $270,000 Active 85 DOM
  7. 2026-07-30
    days on market $270,000 Active 80 DOM
  8. 2026-07-28
    days on market $270,000 Active 79 DOM
  9. 2026-07-26
    days on market $270,000 Active 77 DOM
  10. 2026-07-24
    days on market $270,000 Active 75 DOM
  11. 2026-07-23
    days on market $270,000 Active 74 DOM
  12. 2026-07-22
    days on market $270,000 Active 73 DOM
  13. 2026-07-21
    days on market $270,000 Active 72 DOM
  14. 2026-07-18
    days on market $270,000 Active 69 DOM
  15. 2026-07-18
    days on market $270,000 Active 68 DOM
  16. 2026-07-16
    days on market $270,000 Active 67 DOM
  17. 2026-07-15
    days on market $270,000 Active 66 DOM
  18. 2026-07-14
    days on market $270,000 Active 65 DOM
  19. 2026-07-13
    days on market $270,000 Active 64 DOM
  20. 2026-07-13
    days on market $270,000 Active 63 DOM
  21. 2026-07-12
    days on market $270,000 Active 62 DOM
  22. 2026-07-10
    days on market $270,000 Active 61 DOM
  23. 2026-07-09
    days on market $270,000 Active 60 DOM
  24. 2026-07-07
    days on market $270,000 Active 58 DOM
  25. 2026-07-06
    days on market $270,000 Active 57 DOM
  26. 2026-07-05
    days on market $270,000 Active 56 DOM
  27. 2026-07-02
    days on market $270,000 Active 53 DOM
  28. 2026-07-01
    days on market $270,000 Active 52 DOM
  29. 2026-06-30
    days on market $270,000 Active 51 DOM
  30. 2026-06-29
    days on market $270,000 Active 50 DOM
  31. 2026-06-28
    days on market $270,000 Active 49 DOM
  32. 2026-06-27
    days on market $270,000 Active 48 DOM
  33. 2026-06-25
    days on market $270,000 Active 45 DOM
  34. 2026-06-22
    days on market $270,000 Active 43 DOM
  35. 2026-06-22
    days on market $270,000 Active 42 DOM
  36. 2026-06-17
    days on market $270,000 Active 38 DOM
  37. 2026-06-16
    days on market $270,000 Active 37 DOM
  38. 2026-06-15
    days on market $270,000 Active 36 DOM
  39. 2026-06-13
    days on market $270,000 Active 34 DOM
  40. 2026-06-10
    days on market $270,000 Active 31 DOM
  41. 2026-06-09
    days on market $270,000 Active 30 DOM
  42. 2026-06-08
    days on market $270,000 Active 29 DOM
  43. 2026-06-07
    days on market $270,000 Active 28 DOM
  44. 2026-06-03
    days on market $270,000 Active 24 DOM
  45. 2026-06-02
    days on market $270,000 Active 23 DOM
  46. 2026-06-01
    days on market $270,000 Active 22 DOM
  47. 2026-05-31
    days on market $270,000 Active 21 DOM
  48. 2026-05-10
    listed $270,000 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
  • 🔥 Wildfire 7/10 Severe
  • 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
  • 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
  • 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$31,347
− Mortgage interest
−$15,124
− Property taxes
−$4,050
− Insurance
−$1,350
− Repairs & maintenance
−$2,508
− Management
−$2,508
− HOA
−$10,020
− Depreciation
−$7,855
Taxable loss
−$12,067
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,896
After-tax cash flow
$-4,750/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $6,340–$19,020 screening

This 2nd-floor garden condo in Lighthouse Bay is in good condition with minimal repairs needed. Fresh paint and deep cleaning would significantly enhance its curb appeal and interior aesthetics.

Value-add opportunities

  • Both Paint walls — Fresh paint enhances curb appeal and interior aesthetics
  • Both Deep clean carpets — Clean carpets improve comfort and reduce allergens
  • Both Replace blinds — New blinds can improve privacy and energy efficiency

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Rayma C. Page Elementary School A FL #281/2,144 Nat'l #2,730/41,679 Middle Three Oaks Middle School B+ FL #111/571 Nat'l #1,453/14,009 High South Fort Myers High School F FL #489/667 Nat'l #12,196/17,239

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
B Composite livability gradescore 79/100

Livability — Estero

Score
79/100
State rank
#149
US rank
#2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Estero, FL
County
Lee County · 871,946 people
City population
31,926
Metro
Cape Coral-Fort Myers, FL
Population (ZIP)
48,252
Household income
$91,380
Rent vs Own
17.7% rent · 82.3% own
Severe rent burden
17% of renters

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 (69%)
Race & ethnicity
White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
Hispanic origin (detail)
Mexican 8% Puerto Rican 4% Cuban 3%
Common ancestry
Romanian 5% Lithuanian 2% Slovak 2%
Foreign-born
22% · Canada, Jamaica
Languages at home
74% English-only · Spanish 21% 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

Price history

1 event — show timeline
  • 2026-05-10 Listed $270,000 NAPLESMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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