9040 Palmas Grandes Blvd · Bonita Springs, FL 34135

$550,000

3 bd · 3.0 ba · 2,167 sqft · Other · 8 Days on market

Built 2001 Fair condition

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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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful view. 3/3 with office, utility room, 2 car garage & amp; elevator. Rarely available upstairs unit with elevator. Being sold turnkey & acirc; & euro; & brvbar; bring your toothbrush!!

Key facts

• Built 2001
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $550k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $849 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Cap rate 8.1% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety 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.
• Market conditions: Rents soft (-0.6%/yr); 835 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $5,886/mo this rent would consume 77% of the median local household income ($91k/yr) (locally 976% 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 $4k of loan paydown is wiped out by about $16k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $550,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 7.8

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: -9.6%
• Equity multiple: 0.66×
• Total profit: $-52,197
• Equity at exit: $82,007

10-year hold

• IRR: -4.8%
• Equity multiple: 0.73×
• Total profit: $-42,111
• Equity at exit: $47,554

Cash invested: $154,000 (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 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $5,886 high
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,236
• Net cashflow: $849

Break-even live

Break-even rent $4,811

Max offer price $550,000

Occupancy floor 81%

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8990 Palmas Grandes Blvd #201 Bonita Springs, FL	2.0	2.0	1797	$5,000	$2.78	23d	1	0.04mi
28052 Palmas Grandes Ln #101 Bonita Springs, FL	2.0	2.0	1500	$7,200	$4.80	23d	1	0.07mi
8981 Palmas Grandes Blvd #102 Bonita Springs, FL	2.0	2.0	1791	$7,500	$4.19	23d	1	0.08mi
9030 Las Maderas Dr #101 Bonita Springs, FL	2.0	2.0	1432	$2,500	$1.75	23d	1	0.14mi
9111 Las Maderas Dr #102 Bonita Springs, FL	2.0	2.0	1624	$7,500	$4.62	23d	1	0.17mi
9021 Las Maderas Dr #202 Bonita Springs, FL	2.0	2.0	1674	$7,500	$4.48	23d	1	0.17mi
28105 Mandolin Ct #213 Bonita Springs, FL	3.0	2.0	1500	$2,600	$1.73	23d	1	0.26mi
9040 Carolina St Unit 1073518P Bonita Springs, FL	4.0	3.0	1915	$7,937	$4.14	15d	1	0.36mi
28399 Del Lago Way Bonita Springs, FL	4.0	2.5	2326	$10,000	$4.30	23d	1	0.41mi
27500 Palmesta Cir Bonita Springs, FL	3.0	2.0	1560	$2,400	$1.54	3d	1	0.51mi
27500 Palmesta Cir Unit 41 Bonita Springs, FL	3.0	2.0	1900	$2,400	$1.26	23d	1	0.52mi
27490 Palmesta Cir Unit 37 Bonita Springs, FL	3.0	2.0	1900	$2,400	$1.26	23d	1	0.52mi
27470 Palmesta Cir Unit 29 Bonita Springs, FL	3.0	2.0	1900	$2,400	$1.26	23d	1	0.53mi
28790 Versol Dr Bonita Springs, FL	1.0–3.0	1.0–2.0	1075	$3,391	$3.15	1d	19	0.54mi
3561 Imperial Crossing Dr Bonita Springs, FL	1.0–3.0	1.0–2.0	1122	$3,650	$3.25	2d	19	0.56mi
27911 Hacienda East Blvd Unit 217B Bonita Springs, FL	2.0	2.0	1500	$2,100	$1.40	3d	1	0.58mi
28119 Tamberine Ct #1412 Bonita Springs, FL	3.0	2.0	1593	$5,800	$3.64	23d	1	0.58mi
27430 Palmesta Cir #16 Bonita Springs, FL	3.0	2.0	1900	$2,400	$1.26	23d	1	0.59mi
27526 Los Amigos Ln Unit 1073491P Bonita Springs, FL	3.0	2.0	1657	$5,283	$3.19	1d	1	0.59mi
27420 Palmesta Cir #12 Bonita Springs, FL	3.0	2.0	1900	$2,400	$1.26	23d	1	0.59mi
9908 White Sands Pl Bonita Springs, FL	3.0	2.0	1827	$7,500	$4.11	23d	1	0.60mi
27750 Hacienda East Blvd Unit 208B Bonita Springs, FL	2.0	2.5	1528	$3,800	$2.49	23d	1	0.61mi
28452 Del Lago Way Bonita Springs, FL	4.0	3.0	2201	$7,700	$3.50	23d	1	0.64mi
27414 Pollard Dr Unit 1073493P Bonita Springs, FL	3.0	2.0	1593	$5,065	$3.18	3d	1	0.64mi
27791 Hacienda East Blvd Unit 222D Bonita Springs, FL	2.0	2.5	1528	$4,200	$2.75	23d	1	0.65mi
27311 J C Ln Bonita Springs, FL	3.0	2.0	1730	$3,000	$1.73	15d	1	0.65mi
27439 Pollard Dr Bonita Springs, FL	3.0	2.0	1552	$9,500	$6.12	23d	1	0.67mi
3620 Bailes St Bonita Springs, FL	3.0	3.0	1992	$12,000	$6.02	23d	1	0.69mi
28327 Hidden Lake Dr Bonita Springs, FL	3.0	2.0	1567	$8,950	$5.71	23d	1	0.71mi
27681 Hacienda East Blvd Bonita Springs, FL	2.0	2.5	1675	$3,000	$1.79	23d	1	0.71mi
9940 Treasure Cay Ln Bonita Springs, FL	3.0	2.0	2108	$8,500	$4.03	23d	1	0.73mi
28700 Trails Edge Blvd Bonita Springs, FL	3.0	2.0	1458	$2,175	$1.49	3d	2	0.73mi
28567 Clinton Ln Bonita Springs, FL	3.0	3.5	2285	$13,000	$5.69	13d	1	0.74mi
28567 Clinton Ln Bonita Springs, FL	3.0	3.5	2285	$13,000	$5.69	19d	1	0.74mi
28611 Carriage Home Dr #101 Bonita Springs, FL	2.0	2.0	1433	$2,550	$1.78	23d	1	0.75mi
28460 Highgate Dr Bonita Springs, FL	2.0	2.0	1871	$10,500	$5.61	23d	1	0.78mi
27581 Hacienda East Blvd Unit 1256822P Bonita Springs, FL	2.0	2.5	1808	$3,133	$1.73	19d	1	0.79mi
28650 Carriage Home Dr Unit 1049692P Bonita Springs, FL	3.0	2.0	1528	$3,980	$2.60	15d	1	0.84mi
28450 Winthrop Cir Unit 1546014P Bonita Springs, FL	3.0	2.0	1894	$7,804	$4.12	13d	1	0.88mi
9977 Treasure Cay Ln Bonita Springs, FL	3.0	2.0	2039	$8,500	$4.17	23d	1	0.88mi

Listing history 5 events

1. 2026-06-17
   days on market $550,000 Active 8 DOM
2. 2026-06-16
   days on market $550,000 Active 7 DOM
3. 2026-06-16
   days on market $550,000 Active 6 DOM
4. 2026-06-13
   remarks 192-char remark
5. 2026-06-13
   listed $550,000 Active 4 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 5/10 Major FEMA zone X (unshaded) · 23% 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: $70,635
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,651
• − Management: −$5,651
• − Depreciation: −$16,000
• Taxable income: $1,525
• Est. tax owed @ 24.0%: −$366
• After-tax cash flow: $9,825/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 · 1 photo

Fair 45/100 Moderate rehab

The home requires significant exterior repairs and maintenance, including repainting and landscaping, to improve its condition and value.

Repairs flagged

• Major roof — Signs of potential leakage and wear.
• Major exterior siding — Faded and in need of repainting.
• Minor landscaping — Overgrown and in need of trimming and maintenance.

Value-add opportunities

• Both painting the exterior — Fresh paint would improve the home's curb appeal and resale value.
• Both landscaping maintenance — A well-maintained yard enhances the home's overall appearance and can attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of potential leakage and wear.	Major	$15,000–50,000
exterior siding · Faded and in need of repainting.	Major	$15,000–50,000
landscaping · Overgrown and in need of trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both painting the exterior — Fresh paint would improve the home's curb appeal and resale value. ↑
• Both landscaping maintenance — A well-maintained yard enhances the home's overall appearance and can attract more potential buyers or renters. ↑

ⓘ 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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• 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: 976.0

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 (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: —

Market trends

• HPI YoY: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• 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

• 2026-06-10 Listed $550,000 FSBO.com