16513 Settlers Way · North Fort Myers, FL 33982

$396,490

4 bd · 3.0 ba · 2,190 sqft · Land · 12 Days on market

Built 2026 6,098 sqft lot $337/mo HOA · 7% of rent

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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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks

BRAND NEW energy - efficient home May 2026! This home’s floorplan features a kitchen, great room and dining combination that makes entertaining a breeze. Spend the morning relaxing with a cup of coffee on your covered lanai. Elegant tray ceilings and walk-in closet in the primary suite. isit Crescent Lakes and explore a gated community of single-family homes for sale in Southwest FL. The solar powered, master planned community Babcock Ranch offers resort-style amenities, shopping and dining, and a unique green STEAM based school. Homeowners will have access to a private amenity center as well. Schedule a community tour today and see the innovative, energy-efficient features that ou

Key facts

• Gated community
• Solar powered
• Covered lanai

Tags

• ENERGY EFFICIENT HOME
• COVERED LANAI
• GATED COMMUNITY
• SOLAR POWERED
• RESORT STYLE AMENITIES
• PRIVATE AMENITY CENTER

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 130; Lot size about 0.14 acre; Lot dimensions provided by builder
• Financial info: Pets allowed with conditions (call)
• HOA & community: Homeowners association (monthly fees); Association amenities include cabana, clubhouse, dog park, barbecue, picnic area, pier, playground, pickleball, park, pool, restaurant, sidewalks, trails, and management; Association fee covers maintenance of grounds and pest control

Exterior

• Parking: Attached 2-car garage; Assigned parking; Garage with door opener; 2 covered spaces
• Security: Security gate; Gated community
• Utilities: Public water; Public sewer; Cable available; Underground utilities
• Home design: Single-story; New construction; Shingle roof; Block, concrete and stucco construction; Faces south
• Construction: Built with block, concrete and stucco; Shingle roof; New construction
• Exterior features: Lanai; Porch; Screened porch; Sprinkler/irrigation; Sprinklers automatic; Rectangular lot; Paved road; North exposure; Faces south; Lake irrigation source; Community pool

Interior

• Kitchen: Kitchen island; Pantry; Walk-in pantry; Dishwasher; Disposal; Microwave; Range; Refrigerator; Freezer
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms; Dual sinks; Shower only; Separate shower
• Heating & cooling: Central heating (electric); Central air (electric); Has heating; Has cooling
• Interior features: Bedroom on main level; Dual sinks; Entrance foyer; Kitchen island; Living/dining room; Pantry; Shower only; Separate shower; Walk-in pantry; Walk-in closet(s); Double hung windows; Impact glass windows; Unfurnished
• Laundry & utility: Inside laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $396k.

Deal economics

• At list price, monthly cash flow is $865 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $396k).
• Cap rate 8.9% vs local median 3.6% in North 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Charlotte (suburban): math 54% / reading 54% proficiency, ranked #22 of 73 in FL (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.1%/yr); 1037 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $4,724/mo this rent would consume 78% of the median local household income ($72k/yr) (locally 43% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $111k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $396,490

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.19% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.13% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-3,587
• Equity at exit: $59,118

10-year hold

• IRR: 10.1%
• Equity multiple: 1.82×
• Total profit: $91,216
• Equity at exit: $34,281

Cash invested: $111,017 (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 33982

• Home prices YoY: -1.2%
• Rents YoY: 4.1%
• Active inventory: 1037
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $4,724 high
• Mortgage (P&I): −$2,079
• Tax from tax record: −$286 /mo · $3,431/yr
• Insurance: −$165
• HOA: −$337
• Vacancy / Maint / Mgmt: −$992
• Net cashflow: $865

Break-even live

Break-even rent $3,630

Max offer price $396,490

Occupancy floor 77%

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: $99,122
• Closing costs: $11,895
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44229 Saddlewood Ct Punta Gorda, FL	4.0	2.0	1675	$2,350	$1.40	13d	1	0.21mi
44229 Saddlewood Ct Punta Gorda, FL	4.0	2.0	1675	$2,395	$1.43	21d	1	0.21mi
16922 Sage Ter Punta Gorda, FL	4.0	2.0	1580	$3,500	$2.22	21d	1	0.25mi
44458 Diamond Trl Punta Gorda, FL	3.0	2.0	1484	$2,500	$1.68	21d	1	0.30mi
15977 Cranes Marsh Ct Punta Gorda, FL	3.0	3.0	2811	$12,000	$4.27	21d	1	0.72mi
15907 Sugar Hill Dr Unit 15907 Punta Gorda, FL	3.0	3.0	2247	$9,500	$4.23	21d	1	0.87mi
43041 Greenway Blvd Punta Gorda, FL	2.0–3.0	2.0	1569	$7,500	$4.78	21d	3	0.92mi
15943 Grassland Ln #3912 Punta Gorda, FL	3.0	2.0	1741	$8,800	$5.05	21d	1	0.92mi
17339 Palmetto Pass Ln Punta Gorda, FL	3.0	3.0	2464	$5,000	$2.03	21d	1	0.95mi
15919 Grassland Ln #4211 Punta Gorda, FL	3.0	2.0	1741	$8,800	$5.05	21d	1	0.98mi
43693 Tree Top Trl Punta Gorda, FL	3.0	3.0	1850	$11,000	$5.95	21d	1	0.99mi
17710 Shade Tree Loop Punta Gorda, FL	4.0	2.0	1764	$3,000	$1.70	21d	1	1.02mi
15903 Grassland Ln #4411 Punta Gorda, FL	3.0	2.0	1741	$7,500	$4.31	21d	1	1.03mi
17604 Fallen Branch Way Punta Gorda, FL	4.0	3.0	2027	$2,700	$1.33	21d	1	1.05mi
15222 Jadestone Dr Punta Gorda, FL	3.0	3.0	2444	$3,400	$1.39	21d	1	1.30mi
15919 Leaning Pine Ln Punta Gorda, FL	3.0	3.0	2247	$10,000	$4.45	21d	1	1.30mi
43270 Boardwalk Loop Punta Gorda, FL	3.0	3.0	2247	$10,000	$4.45	21d	1	1.34mi
43038 Parkside Ct Punta Gorda, FL	3.0	2.0	1677	$2,500	$1.49	21d	1	1.34mi
43330 Water Bird Way #6911 Punta Gorda, FL	3.0	2.0	1741	$8,800	$5.05	21d	1	1.39mi
16397 Preservation Blvd Punta Gorda, FL	4.0	3.5	2353	$2,800	$1.19	21d	1	1.41mi
15808 Leaning Pine Ln Punta Gorda, FL	3.0	3.0	1874	$3,950	$2.11	21d	1	1.42mi
15063 Longs Ln Punta Gorda, FL	3.0	3.5	2689	$11,000	$4.09	21d	1	1.48mi
16572 Kingwood Ln #3611 Punta Gorda, FL	3.0	2.0	1749	$4,500	$2.57	21d	1	1.49mi

HOA detail

• Monthly dues: $337 · $4,044/yr
• Likely covers: security

Listing history 2 events

1. 2026-05-04
   status Pending
2. 2026-04-22
   listed $396,490 Active

ⓘ 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: $3,431 · $286/mo
• Projected year-2 tax: $3,431 · $286/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Taxation est. · year 1

• Rental income: $56,691
• − Mortgage interest: −$22,210
• − Property taxes: −$3,431
• − Insurance: −$1,982
• − Repairs & maintenance: −$4,535
• − Management: −$4,535
• − HOA: −$4,044
• − Depreciation: −$11,534
• Taxable income: $4,419
• Est. tax owed @ 24.0%: −$1,061
• After-tax cash flow: $9,317/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: Charlotte
• NCES district ID: 1200240
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $44,864
• Composite: 45.62/100
• National rank: #2586
• State rank: #22 of 73 in FL

Livability — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charlotte County · 196,994 people
• City population: 57,035
• Metro: Punta Gorda, FL
• Population (ZIP): 13,006
• Household income: $72,443
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 43.0

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 198,646 people
• By 2030: 210,507 · +6.0%
• By 2040: 230,857 · +16.2%
• By 2050: 247,148 · +24.4%
• By 2075: 281,777 · +41.8%
• By 2100: 293,609 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 7% Black 7%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 3% Iranian 3% Slovak 3%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+34.0) · D 32.7% · R 66.7%
• 2008→2024 swing: -26.7pp toward R · 2008: -7.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+26.6 2016: R+27.8 2012: R+14.3 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.25%
• Current HPI: 448.5895
• Rent YoY: ▲ 4.13%
• Metro: Punta Gorda, 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

2 events — show timeline

• 2026-05-04 Pending — FORTMLS
• 2026-04-22 Listed $396,490 FORTMLS

Property tax history

-2.6%/yr

Latest (2025): $3,431 · -2.6% YoY. Source: county tax records.