17051 Colony Lakes Blvd · Cypress Lake, FL 33908

$342,000

3 bd · 2.0 ba · 1,665 sqft · Condo public records · 94 Days on market

Built 2001 $316/mo HOA · 9% 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).

• Cash flow +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 17051 Colony Lakes Blvd — a beautifully maintained home offering comfort, functionality, and peaceful lakefront living in Fort Myers. This well-appointed 2-bedroom plus den, 2-bath residence features a spacious and thoughtfully designed floor plan highlighted by a large kitchen with abundant counter space, generous cabinetry, and plenty of room to gather. The home has been thoughtfully updated with impact windows throughout, a new roof, new water heater, new washer and dryer, and a newer A/C unit, providing both efficiency and peace of mind. Inside, custom built-in cabinetry adds style and functionality throughout the home. The primary suite serves as a comfortable retreat,

Key facts

• Lakefront living
• New washer and dryer
• New water heater

Tags

• LAKEFRONT LIVING
• IMPACT WINDOWS
• NEW ROOF
• NEW WATER HEATER
• NEW WASHER AND DRYER
• NEWER A C UNIT

Property features AI

Finance

• Financial info: Property is part of a multi-unit complex with 175 units total; 2 units in the building; 1 unit per floor
• HOA & community: Mandatory HOA; Quarterly HOA fee of $950; Master HOA fee of $1 annually; Total annual recurring fees approximately $3,801; Total one-time fees approximately $400; Professional management; Community amenities include clubhouse, community pool, community spa/hot tub and play area; HOA covers lawn/land maintenance, exterior pest control, recreation facilities and trash removal; Non-gated community

Exterior

• Parking: Attached 2-car garage
• Security: Security system; Smoke detectors
• Utilities: Water assessments paid; Sewer assessments paid; Cable available; Electric service for heating and cooling (central)
• Home design: Residential villa attached (duplex end-unit); Single-story (1 floor); Rear exposure to the west; Located in the Colony Lakes community
• Construction: Concrete block construction; Built in 2001; Tile roof; Stucco exterior
• Exterior features: Pond on property; Lake waterfront; Landscaped areas and water views; Above-ground screened private spa; Impact-resistant windows; Manual shutters and fabric/screen shutters; Stucco exterior finish; Tile roof

Interior

• Kitchen: Electric cooktop; Range; Microwave; Dishwasher; Refrigerator/Freezer
• Bedrooms: 3 bedrooms
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Smoke detectors; Great room floor plan; Dining area combined with living room; Den/Study; Screened lanai/porch; Partially furnished
• Laundry & utility: Washer and dryer in residence; Auto garage door; Security system; Satellite dish

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $342k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (6.0% below list).
• Meets the 1% rule at list price ($3k rent vs $342k).
• Recommended offer: $311k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 1.8% in Cypress Lake — 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 75/100 on livability (#257 in FL, #4,125 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: 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.
• Market conditions: Rents soft (-1.2%/yr); 1244 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,449/mo this rent would consume 55% of the median local household income ($75k/yr) (locally 1944% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 94 days — a 9% lower offer ($311k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $311,220 (9.0% 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 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. 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?
10. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
11. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
12. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
13. 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.
14. 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.
15. 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: 1.01% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.3

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: -22.8%
• Equity multiple: 0.24×
• Total profit: $-72,599
• Equity at exit: $50,993

10-year hold

• IRR: -30.8%
• Equity multiple: -0.15×
• Total profit: $-110,426
• Equity at exit: $29,570

Cash invested: $95,760 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1244
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,449 high
• Mortgage (P&I): −$1,793
• Tax from tax record: −$162 /mo · $1,948/yr
• Insurance: −$142
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$316
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $-116

Break-even live

Break-even rent $3,596

Max offer price $321,420

Occupancy floor 98%

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: $85,500
• Closing costs: $10,260
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16320 Willowcrest Way Fort Myers, FL	2.0	2.0	1751	$8,700	$4.97	14d	1	0.50mi
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1498	$6,300	$4.21	16d	1	0.50mi
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1247	$6,300	$5.05	14d	1	0.50mi
8549 S Lake Cir Fort Myers, FL	3.0	2.0	2091	$3,500	$1.67	23d	1	0.50mi
9250 Bayberry Bnd #202 Fort Myers, FL	2.0	2.0	1669	$4,950	$2.97	14d	1	0.54mi
9240 Bayberry Bnd #103 Fort Myers, FL	3.0	2.0	1584	$6,600	$4.17	23d	1	0.55mi
9241 Bayberry Bnd #103 Fort Myers, FL	3.0	2.0	1584	$4,725	$2.98	14d	1	0.59mi
9240 Willowcrest Ct Fort Myers, FL	2.0	2.0	1752	$8,500	$4.85	14d	1	0.64mi
9201 Bayberry Bnd #103 Fort Myers, FL	2.0	2.0	1724	$3,500	$2.03	23d	1	0.66mi
16421 Millstone Cir Fort Myers, FL	2.0	2.0	1068	$4,400	$4.12	16d	2	0.66mi
11848 Bayport Ln #2002 Fort Myers, FL	3.0	2.0	1661	$2,200	$1.32	23d	1	0.66mi
16430 Millstone Cir #103 Fort Myers, FL	2.0	2.0	1067	$6,300	$5.90	14d	1	0.74mi
16440 Millstone Cir #203 Fort Myers, FL	2.0	2.0	1067	$6,300	$5.90	14d	1	0.76mi
9190 Southmont Cv #309 Fort Myers, FL	3.0	2.0	1331	$6,500	$4.88	2d	1	0.76mi
16471 Millstone Cir #303 Fort Myers, FL	2.0	2.0	1068	$6,100	$5.71	14d	1	0.78mi
17020 Willowcrest Way Fort Myers, FL	2.0–3.0	2.0	1344	$6,300	$4.69	16d	2	0.78mi
16491 Millstone Cir #207 Fort Myers, FL	2.0	2.0	1348	$2,000	$1.48	14d	1	0.80mi
16481 Millstone Cir #207 Fort Myers, FL	3.0	2.0	1348	$2,700	$2.00	23d	1	0.80mi
8986 Greenwich Hills Way #201 Fort Myers, FL	2.0	2.0	2040	$5,200	$2.55	23d	1	0.82mi
9170 Southmont Cv Fort Myers, FL	2.0–3.0	2.0	1358	$6,300	$4.64	14d	1	0.82mi
8837 E Bay Cir Fort Myers, FL	2.0	2.0	1156	$2,600	$2.25	23d	1	0.86mi
9140 Southmont Cv #102 Fort Myers, FL	3.0	2.0	1331	$2,500	$1.88	14d	1	0.95mi
15250 Sonoma Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1252	$2,365	$1.89	3d	31	1.00mi
17100 Bridgestone Ct #303 Fort Myers, FL	2.0	2.0	1175	$4,575	$3.89	14d	1	1.03mi
3705 Stoneridge Ct Fort Myers, FL	3.0	2.0	2200	$3,500	$1.59	19d	1	1.12mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1282	$2,400	$1.87	23d	1	1.13mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1175	$2,400	$2.04	3d	1	1.13mi
15800 Portofino Springs Blvd #102 Fort Myers, FL	3.0	2.5	1761	$2,500	$1.42	23d	1	1.17mi
9470 Sardinia Way #107 Fort Myers, FL	3.0	2.5	1761	$2,300	$1.31	3d	1	1.23mi
16214 Via Solera Cir #5 Fort Myers, FL	2.0	2.5	1300	$1,750	$1.35	23d	1	1.26mi
8995 Spring Mountain Way Fort Myers, FL	4.0	3.5	2136	$2,895	$1.36	3d	1	1.42mi
9813 Quinta Artesa Way #103 Fort Myers, FL	3.0	2.5	1819	$2,250	$1.24	14d	1	1.45mi
9813 Quinta Artesa Way #104 Fort Myers, FL	3.0	2.5	1819	$1,850	$1.02	23d	1	1.45mi
9814 Quinta Artesa Way #102 Fort Myers, FL	2.0	2.5	1756	$4,250	$2.42	23d	1	1.47mi
16114 Via Solera Cir #105 Fort Myers, FL	2.0	2.5	1819	$2,200	$1.21	23d	1	1.49mi

HOA detail condo

• Monthly dues: $316 · $3,792/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-17
   days on market $342,000 Active 94 DOM
2. 2026-06-16
   pricedays on market $342,000 Active 93 DOM
3. 2026-06-15
   days on market $352,500 Active 92 DOM
4. 2026-06-13
   days on market $352,500 Active 90 DOM
5. 2026-06-10
   days on market $352,500 Active 87 DOM
6. 2026-06-09
   days on market $352,500 Active 86 DOM
7. 2026-06-07
   days on market $352,500 Active 84 DOM
8. 2026-06-03
   days on market $352,500 Active 80 DOM
9. 2026-06-02
   days on market $352,500 Active 79 DOM
10. 2026-06-01
    days on market $352,500 Active 78 DOM
11. 2026-06-01
    days on market $352,500 Active 77 DOM
12. 2026-04-02
    price $352,500
13. 2026-03-15
    listed $362,500 Active
14. 2025-05-01
    soldstatus $345,000
15. 2001-01-23
    soldstatus $100,000
16. 2000-09-29
    soldstatus $1,300,000

ⓘ 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: $1,948 · $162/mo
• Projected year-2 tax: $2,839 · $237/mo
• Expected delta: +$891/yr (+$74/mo · 45.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 32 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: $41,383
• − Mortgage interest: −$19,157
• − Property taxes: −$1,948
• − Insurance: −$6,829
• − Repairs & maintenance: −$3,311
• − Management: −$3,311
• − HOA: −$3,792
• − Depreciation: −$9,949
• Taxable loss: −$6,913
• Est. tax savings @ 24.0%: +$1,659
• After-tax cash flow: $261/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 — Cypress Lake

• Score: 75/100
• State rank: #257
• US rank: #4125

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

-72.9% since first listed

5 events — show timeline

• 2026-04-02 Price Changed $352,500 BEARMLS
• 2026-03-15 Listed $362,500 BEARMLS
• 2025-05-01 Sold (Public Records) $345,000 Public Records
• 2001-01-23 Sold (Public Records) $100,000 Public Records
• 2000-09-29 Sold (Public Records) $1,300,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,948 · +5.0% YoY. Source: county tax records.