11780 Grand Belvedere Way #203 · Fort Myers, FL 33913

$359,000

3 bd · 2.0 ba · 1,873 sqft · SingleFamily · 15 Days on market

Built 2019 Good condition 8,006 sqft lot Est $553k · 35% under $921/mo HOA · 23% 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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• 1% rule +6.3/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• DSCR +2.9/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks

READY TO MOVE-IN! Fabulous end-unit condo in the sought-after community of Arborwood Preserve is being sold turnkey! Just bring your clothes and personal items! This neutral, two-bedroom unit features two bathrooms with a versatile flex room that can be used as a home office, TV room, or bedroom. Oversized screened lanai that runs the entire length of unit and features two sets of sliders for easy entry from the great room and dining room. Stainless steel appliances, impact doors and windows, tile on diagonal throughout main living areas, and new luxury vinyl in the den and bedrooms, afford owners a virtually maintenance-free lifestyle! Additional features include under-cabinet and above-ca

Key facts

• End-unit condo
• Flex room
• $921 HOA

Tags

• END-UNIT CONDO
• FLEX ROOM
• OVERSIZED SCREENED LANAI
• STAINLESS STEEL APPLIANCES
• IMPACT DOORS AND WINDOWS
• COLOR-CHANGING KITCHEN LIGHTS

Property features AI

Finance

• Other: Part of a 120-unit complex with 6 units per building; 1 floor in building; 2 units per floor
• Financial info: Total annual recurring fees $11,452; One-time fees $1,300
• HOA & community: Mandatory HOA; HOA fee $1,500 quarterly; Master HOA fee $1,262.81 quarterly; On-site management; HOA maintains insurance, irrigation water, lawn/land maintenance, pest control (exterior), sewer, street maintenance, street lights, trash removal, water, recreation facilities, reserves, security, internet/WiFi access, and more; Community amenities include clubhouse, community pool, exercise room, bocce court, pickleball, tennis, theater, business center, library, restaurant and more

Exterior

• Parking: Attached 1-car garage; Paved driveway; Guest parking
• Security: Gated community with guard at gate; On-site management; Security included in HOA maintenance
• Utilities: Central water (assessment paid); whole-house reverse osmosis and water softener; Central sewer (assessment paid); Electric service for HVAC and appliances
• Home design: Residential low-rise (1-3 stories), carriage/coach style; Built in 2019; Zero lot line; Rear exposure facing west; Located in the gated Arborwood Preserve community
• Construction: Concrete block construction
• Exterior features: Tile roof; Stucco exterior; Patio; Privacy wall; Automatic sprinkler system; Impact resistant windows and doors; Impact resistant windows

Interior

• Kitchen: Kitchen island; Pantry; Electric cooktop; Range; Self-cleaning oven; Microwave; Dishwasher; Disposal; Refrigerator/freezer; Reverse osmosis water filtration
• Bedrooms: 3 bedrooms; Split bedroom floor plan
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: French doors; Pantry; Smoke detectors; Walk-in closet; Window coverings; Den/Study; Great room; Guest bath; Guest room; Screened lanai/porch; Turnkey furnished
• Laundry & utility: Washer and dryer in residence; Water treatment (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $359k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (8.1% below list).
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $330k (8.1% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents flat; 821 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 44% of the median local income ($110k/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 $11k 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 15 days — a 2% lower offer ($354k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,767 (8.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $552,535
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11331 Merriweather Ct	0.33mi	3/2.0	1,912 (+2%)	0mo	$680,000	$356	81
11897 Clifton Ter	0.46mi	3/2.0	1,862 (-1%)	4mo	$550,000	$295	74
12279 Sussex St	0.39mi	3/2.0	2,010 (+7%)	6mo	$700,000	$348	65
11543 Golden Oak Ter	0.58mi	2/2.0 (-1)	1,917 (+2%)	1mo	$400,000	$209	64
12268 Sussex St	0.35mi	3/2.0	2,009 (+7%)	14mo	$565,000	$281	60
12503 Hammock Cove Blvd	0.48mi	3/2.5	1,829 (-2%)	15mo	$330,000	$180	60
12232 Sussex St	0.24mi	3/2.0	2,107 (+12%)	15mo	$575,000	$273	55
11591 Shady Blossom Dr	0.44mi	4/3.0 (+1)	2,032 (+8%)	3mo	$565,000	$278	54
11884 Bourke Pl	0.54mi	3/2.0	2,107 (+12%)	15mo	$615,000	$292	42
12819 Epping Way	0.61mi	3/2.0	2,007 (+7%)	24mo	$735,000	$366	40
11849 Grand Isles Ln	0.53mi	4/3.0 (+1)	2,060 (+10%)	14mo	$708,500	$344	38
11872 Bourke Pl	0.54mi	3/2.0	2,107 (+12%)	22mo	$670,000	$318	36

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 · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.20×
• Total profit: $-80,858
• Equity at exit: $53,528

10-year hold

• IRR: -35.5%
• Equity multiple: -0.24×
• Total profit: $-125,091
• Equity at exit: $31,040

Cash invested: $100,520 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 821
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $4,051 high
• Mortgage (P&I): −$1,883
• Tax est. 1.5%: −$449 /mo · $5,385/yr
• Insurance: −$150
• HOA: −$921
• Vacancy / Maint / Mgmt: −$851
• Net cashflow: $-202

Break-even live

Break-even rent $4,306

Max offer price $329,767

Occupancy floor 100%

Sensitivity live

Price	-10% $46	-5% $-78	+0% $-202	+5% $-326	+10% $-450
Rent	-10% $-522	-5% $-362	+0% $-202	+5% $-42	+10% $118
Rate	-1.0pp $-21	-0.5pp $-111	base $-202	+0.5pp $-295	+1.0pp $-390

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12090 Summergate Cir #101 Fort Myers, FL	3.0	2.0	1231	$1,825	$1.48	25d	1	0.47mi
12062 Via Lighthouse Ln Fort Myers, FL	3.0	2.5	1879	$1,995	$1.06	5d	1	0.58mi
11530 Villa Grand Fort Myers, FL	3.0	2.0	1336	$1,750	$1.31	5d	1	0.60mi
11571 Villa Grand #617 Fort Myers, FL	3.0	2.0	1336	$2,200	$1.65	18d	1	0.70mi
11012 Castlereagh St Fort Myers, FL	3.0	3.0	2517	$12,000	$4.77	25d	1	0.79mi
11701 Avingston Ter Fort Myers, FL	2.0	2.0	1553	$5,500	$3.54	16d	1	0.84mi
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	25d	1	0.85mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	5d	1	0.86mi
12300 Professional Park Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1058	$2,345	$2.22	25d	25	0.87mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	25d	1	0.92mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	16d	1	0.92mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	25d	1	0.92mi
12096 Ledgewood Cir Fort Myers, FL	3.0	2.0	1798	$2,850	$1.59	25d	1	0.95mi
11442 Tiverton Trce Fort Myers, FL	3.0	2.0	2010	$9,500	$4.73	25d	1	1.01mi
10271 Glastonbury Cir #102 Fort Myers, FL	2.0	2.0	1550	$4,500	$2.90	25d	1	1.10mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	25d	1	1.12mi
12908 New Market St #201 Fort Myers, FL	3.0	2.5	2198	$3,000	$1.36	25d	1	1.14mi
11343 Tiverton Trce Fort Myers, FL	2.0	2.0	1685	$4,000	$2.37	5d	1	1.16mi
11801 Pine Timber Ln Fort Myers, FL	3.0	2.5	2508	$8,000	$3.19	25d	1	1.16mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	25d	1	1.21mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	25d	1	1.23mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	23d	1	1.24mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$3,402	$2.58	5d	23	1.25mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	25d	1	1.28mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	25d	1	1.32mi
13071 Georges Cay Pl Fort Myers, FL	3.0	3.0	1600	$3,800	$2.38	25d	1	1.32mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	25d	1	1.34mi
13068 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$2,900	$1.82	16d	1	1.34mi
12797 Vista Pine Cir Fort Myers, FL	4.0	2.0	2146	$2,705	$1.26	5d	1	1.36mi
11761 Pinewood Lakes Dr Fort Myers, FL	4.0	3.0	2528	$3,200	$1.27	5d	1	1.36mi
10900 Legacy Gateway Cir Fort Myers, FL	1.0–3.0	1.0–2.5	1115	$2,350	$2.11	4d	36	1.38mi
13104 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$3,100	$1.95	25d	1	1.38mi
10529 Casella Way #102 Fort Myers, FL	3.0	2.0	1722	$4,500	$2.61	25d	1	1.41mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	25d	1	1.43mi
10520 Casella Way #101 Fort Myers, FL	3.0	2.0	1722	$7,000	$4.07	25d	1	1.48mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	23d	1	1.48mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	18d	2	1.48mi
12021 Brassie Cir #201 Fort Myers, FL	3.0	2.0	2343	$2,700	$1.15	5d	1	1.49mi

HOA detail

• Monthly dues: $921 · $11,052/yr

Listing history 11 events

1. 2026-06-22
   days on market $359,000 Active 15 DOM
2. 2026-06-18
   days on market $359,000 Active 12 DOM
3. 2026-06-17
   days on market $359,000 Active 11 DOM
4. 2026-06-16
   days on market $359,000 Active 10 DOM
5. 2026-06-15
   days on market $359,000 Active 9 DOM
6. 2026-06-13
   days on market $359,000 Active 7 DOM
7. 2026-06-10
   days on market $359,000 Active 4 DOM
8. 2026-06-09
   days on market $359,000 Active 3 DOM
9. 2026-06-08
   days on market $359,000 Active 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $359,000 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $48,607
• − Mortgage interest: −$20,110
• − Property taxes: −$5,385
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,889
• − Management: −$3,889
• − HOA: −$11,052
• − Depreciation: −$10,444
• Taxable loss: −$7,956
• Est. tax savings @ 24.0%: +$1,909
• After-tax cash flow: $-515/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 · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready home in Arborwood Preserve offers a good condition with minimal repairs needed. The exterior and interior are in good condition, and the home is located in a desirable community with a pool and amenities.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean gutters — Improves drainage and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean gutters — Improves drainage and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

1 event — show timeline

• 2026-06-06 Listed $359,000 NAPLESMLS