3109 SE 8th Pl · Cape Coral, FL 33904

$235,000

3 bd · 2.0 ba · 1,393 sqft · SingleFamily public records · 75 Days on market

Built 1968 10,018 sqft lot Est $309k · 24% under

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Why this score? — see what drove the C- 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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks

This home features 3 bedrooms, 2 baths, screened in lanai, new windows 10-4-2021 except sliding glass door and two widows on each side of the front door, new hurricane garage door, newer roof 7-26-2024, no flooding, large yard room for a pool. Kitchen has quarts counter tops and stainless-steel appliances, quiet neighborhood, easy access to shopping, restaurants, Fort Myers, Fort Myers Beach, Sanibel Island, Pine Island and RSW International Airport. Ready for its new owners!

Key facts

• Quarts counter tops
• Newer roof
• Large yard

Tags

• SCREENED IN LANAI
• NEW WINDOWS
• NEW HURRICANE GARAGE DOOR
• NEWER ROOF
• LARGE YARD
• QUARTS COUNTER TOPS

Property features AI

Finance

• Other: Irrigation included in assessment; Public maintained road
• Financial info: Pets allowed
• HOA & community: Non-gated community; Association fee: $0

Exterior

• Parking: Attached 2-car garage; 2 covered spaces
• Security: Smoke detector(s)
• Utilities: Cable available; Sewer assessment paid; Water assessment paid
• Home design: Single-story; Resale; Faces west; Zoned R1
• Construction: Block, concrete and stucco construction; Shingle roof; Built on standard foundation
• Exterior features: Room for pool; Lanai; Porch; Screened porch; East exposure

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Self-cleaning oven; Refrigerator
• Bedrooms: Screened porch; Great room
• Flooring: Terrazzo; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Entrance foyer; Living/dining room; Split bedrooms; Separate shower; Shower only; Sliding windows; Impact glass windows; Unfurnished
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (12.7% below list).
• Recommended offer: $205k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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: Gulf Elementary School (math 70% / reading 65%, grade B+, #435 of 2,144 statewide, top 21%, 1,231 students, 38% FRL); Challenger Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,124 students, 50% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL) — zoned schools average 42% FRL vs 57% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents falling (-5.5%/yr); 823 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 35% of the median local income ($71k/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 $7k 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 75 days — a 6% lower offer ($221k) 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 $45k; list at $235k implies a 422% gain — meaningful room to come down on a strong offer.

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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,207 (12.7% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. 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. Schools are B-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?
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: 0.87% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $309,246
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3011 SE 8th Pl	0.09mi	3/2.0	1,529 (+10%)	4mo	$340,000	$222	76
2727 SE 8th Ave	0.45mi	3/2.0	1,381 (-1%)	4mo	$185,000	$134	74
2931 SE 5th Ave	0.48mi	3/2.0	1,425 (+2%)	2mo	$320,000	$225	72
918 SE 28th Ter	0.33mi	3/2.0	1,525 (+10%)	1mo	$329,900	$216	68
632 SE 35th St	0.53mi	2/2.0 (-1)	1,359 (-2%)	1mo	$140,000	$103	65
3034 SE 10th Pl	0.25mi	3/2.0	1,568 (+13%)	4mo	$450,000	$287	64
1116 SE 30th Ter	0.47mi	3/2.0	1,260 (-10%)	2mo	$320,000	$254	61
2825 SE 8th Pl	0.30mi	3/2.0	1,212 (-13%)	5mo	$319,000	$263	60
933 SE 26th St	0.68mi	3/2.0	1,324 (-5%)	3mo	$258,000	$195	57
1315 SE 33rd St	0.69mi	3/2.0	1,539 (+10%)	2mo	$235,000	$153	49
1306 Shelby Pkwy	0.73mi	3/2.0	1,562 (+12%)	3mo	$500,000	$320	43
1319 SE 33rd Ter	0.73mi	2/2.0 (-1)	1,258 (-10%)	3mo	$265,000	$211	42

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: -16.4%
• Equity multiple: 0.43×
• Total profit: $-37,284
• Equity at exit: $35,039

10-year hold

• IRR: -14.2%
• Equity multiple: 0.29×
• Total profit: $-47,041
• Equity at exit: $20,319

Cash invested: $65,800 (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 33904

• Rents YoY: -5.5%
• Active inventory: 823
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,052 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$117 /mo · $1,403/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $107

Break-even live

Break-even rent $1,916

Max offer price $235,000

Occupancy floor 90%

Sensitivity live

Price	-10% $241	-5% $174	+0% $107	+5% $41	+10% $-26
Rent	-10% $-55	-5% $26	+0% $107	+5% $189	+10% $270
Rate	-1.0pp $226	-0.5pp $167	base $107	+0.5pp $47	+1.0pp $-15

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1038 SE 30th St Cape Coral, FL	3.0	2.0	1754	$2,400	$1.37	23d	1	0.31mi
618 W Archer Pkwy Cape Coral, FL	3.0	2.0	1554	$5,135	$3.30	25d	1	0.42mi
1124 SE 29th St Cape Coral, FL	3.0	2.0	1578	$1,500	$0.95	25d	1	0.45mi
1128 SE 29th Ter Cape Coral, FL	3.0	2.0	1534	$2,250	$1.47	25d	1	0.52mi
3425 SE 10th Ave Cape Coral, FL	3.0	2.0	1706	$2,500	$1.47	25d	1	0.54mi
3410 SE 11th Pl Cape Coral, FL	3.0	2.0	1368	$2,500	$1.83	25d	1	0.55mi
922 SE 26th Ter Cape Coral, FL	2.0	2.0	1323	$1,700	$1.28	21d	1	0.56mi
327 SE 31st Ter Cape Coral, FL	3.0	2.0	1408	$1,725	$1.23	5d	1	0.58mi
922 SE 25th Ln Cape Coral, FL	3.0	2.0	1516	$2,250	$1.48	25d	1	0.67mi
1235 Shelby Pkwy Cape Coral, FL	3.0	2.0	1479	$2,200	$1.49	5d	1	0.69mi
1410 SE 31st Ter Cape Coral, FL	3.0	2.0	1792	$5,600	$3.12	25d	1	0.71mi
3609 SE 9th Pl Unit 1 Cape Coral, FL	2.0	2.0	914	$1,200	$1.31	25d	1	0.71mi
3609 SE 9th Pl Unit 1 Cape Coral, FL	2.0	2.0	914	$1,200	$1.31	5d	1	0.71mi
506 SE 26th St Cape Coral, FL	2.0	1.0	1680	$1,500	$0.89	25d	1	0.73mi
3619 SE 9th Pl Cape Coral, FL	2.0	2.0	1090	$1,250	$1.15	25d	1	0.74mi
2509 Academy Blvd Cape Coral, FL	3.0	2.0	1252	$2,200	$1.76	25d	1	0.75mi
1402 SE 34th St Cape Coral, FL	3.0	2.0	1613	$1,899	$1.18	13d	1	0.77mi
310 SE 27th Ter Cape Coral, FL	3.0	2.0	1378	$3,700	$2.69	25d	1	0.78mi
310 SE 27th Ter Cape Coral, FL	3.0	2.0	1378	$3,700	$2.69	23d	1	0.78mi
2605 SE 4th Ave Cape Coral, FL	3.0	2.0	1756	$1,790	$1.02	5d	1	0.82mi
3708 SE 12th Ave #201 Cape Coral, FL	2.0	2.0	1111	$1,800	$1.62	25d	1	0.83mi
3705 Country Club Blvd Unit 1 Cape Coral, FL	2.0	1.0	900	$1,300	$1.44	25d	1	0.83mi
1502 SE 33rd St Cape Coral, FL	3.0	2.0	1430	$2,100	$1.47	5d	1	0.86mi
3722 SE 12th Ave Unit 1F Cape Coral, FL	2.0	2.0	1410	$2,150	$1.52	25d	1	0.87mi
3527 SE 3rd Ave Cape Coral, FL	3.0	2.0	1758	$2,115	$1.20	25d	1	0.87mi
1426 SE 34th Ter Cape Coral, FL	3.0	2.0	1740	$7,103	$4.08	25d	1	0.88mi
1322 SE 35th Ter Cape Coral, FL	4.0	2.0	1803	$2,850	$1.58	25d	1	0.88mi
2328 Country Club Blvd Cape Coral, FL	3.0	2.0	1476	$1,750	$1.19	25d	1	0.90mi
2927 SE 15th Pl Unit 4 Cape Coral, FL	2.0	1.0	945	$1,350	$1.43	16d	1	0.92mi
3813 SE 11th Pl #1214 Cape Coral, FL	2.0	2.0	1008	$1,725	$1.71	5d	1	0.94mi
3801 Country Club Blvd Unit 1 Cape Coral, FL	2.0	1.0	950	$1,400	$1.47	25d	1	0.95mi
1320 SE 25th Ln Cape Coral, FL	3.0	2.0	1752	$2,700	$1.54	5d	1	0.96mi
3325 SE 15th Pl #202 Cape Coral, FL	2.0	2.0	908	$1,295	$1.43	17d	1	0.97mi
3325 SE 15th Pl #202 Cape Coral, FL	2.0	2.0	908	$1,295	$1.43	25d	1	0.97mi
136 Kamal Pkwy Cape Coral, FL	3.0	2.0	1679	$8,500	$5.06	5d	1	0.98mi
3020 SE Santa Barbara Pl Cape Coral, FL	3.0	2.0	1348	$1,800	$1.34	25d	1	1.01mi
3106 SE Santa Barbara Pl Cape Coral, FL	3.0	2.0	1250	$1,660	$1.33	25d	1	1.02mi
3032 SE Santa Barbara Pl Unit 2 Cape Coral, FL	2.0	2.0	1015	$1,700	$1.67	25d	1	1.02mi
3808 SE 11th Ave Unit A Cape Coral, FL	2.0	2.0	1121	$1,600	$1.43	25d	1	1.02mi
3509 SE 15th Pl Unit 3 Cape Coral, FL	2.0	2.0	1070	$1,395	$1.30	13d	1	1.04mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $235,000 Pending 75 DOM
2. 2026-06-10
   days on market $235,000 Active 74 DOM
3. 2026-06-09
   days on market $235,000 Active 73 DOM
4. 2026-06-07
   days on market $235,000 Active 71 DOM
5. 2026-06-03
   days on market $235,000 Active 67 DOM
6. 2026-06-02
   days on market $235,000 Active 66 DOM
7. 2026-06-01
   days on market $235,000 Active 65 DOM
8. 2026-06-01
   days on market $235,000 Active 64 DOM
9. 2026-04-26
   status Active
10. 2026-04-21
    status Pending
11. 2026-03-21
    listed $235,000 Active
12. 1983-11-01
    soldstatus $45,000

ⓘ 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: $1,403 · $117/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$548/yr (+$46/mo · 39.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,625
• − Mortgage interest: −$13,164
• − Property taxes: −$1,403
• − Insurance: −$1,972
• − Repairs & maintenance: −$1,970
• − Management: −$1,970
• − Depreciation: −$6,836
• Taxable loss: −$2,690
• Est. tax savings @ 24.0%: +$646
• After-tax cash flow: $1,936/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F 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: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,599
• Household income: $71,190
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 1182.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 11% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 9%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Indo-European 1% Chinese 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: ▼ -190.05%
• Current HPI: 266.3458
• Rent YoY: ▼ -5.48%
• 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

+422.2% since first listed

4 events — show timeline

• 2026-04-26 Relisted — FORTMLS
• 2026-04-21 Pending — FORTMLS
• 2026-03-21 Listed $235,000 FORTMLS
• 1983-11-01 Sold (Public Records) $45,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,403 · +11.2% YoY. Source: county tax records.