10510 Amiata Way #402 · Fort Myers, FL 33913

$209,500

2 bd · 2.0 ba · 1,245 sqft · Condo public records · 63 Days on market

Built 2005 $876/mo HOA · 20% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

Key facts

• 2021 ac
• Covered parking
• Elevator access

Tags

• TOP FLOOR CORNER CONDO
• PRIVATE LANAI
• WATER AND PRESERVE VIEW
• 2021 AC
• COVERED PARKING
• ELEVATOR ACCESS

Property features AI

Finance

• Financial info: Pets allowed on a conditional basis (maximum 2 pets; aggressive breeds not allowed)
• HOA & community: Homeowners association (110 units in community); Quarterly association fee; HOA includes association management, cable TV, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, sewer, security, trash and water; Community amenities include bocce court, billiard room, business center, cabana, clubhouse, dog park, fitness center, golf course, hobby room, library, media room, pier, pickleball, pool, restaurant, sauna, spa/hot tub, storage, tennis courts and trails; Community features: elevator, golf, gated, tennis courts; Senior community

Exterior

• Parking: Detached carport; 1 covered carport space
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Cable available; High speed internet available
• Home design: Condo / Multi-story building; 4 total stories; Entry on level 4; Faces north; Resale property
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Storage; Balcony; Screened porch; Community pool; Reclaimed water irrigation; South exposure; Lakefront; Has view

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Breakfast bar; Pantry; Eat-in kitchen
• Bedrooms: Great room
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Breakfast bar; Tray ceiling(s); Eat-in kitchen; Living/dining room; Pantry; Shower only; Separate shower; Vaulted ceiling(s); Walk-in closet(s); Window treatments; High speed internet; Furnished; Single hung windows; Impact glass windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $671 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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; 820 active listings in the ZIP; 34 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).
• At $4,337/mo this rent would consume 47% of the median local household income ($110k/yr) (locally 276% 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 $1k of loan paydown is wiped out by about $6k 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 63 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago 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 $160k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,930 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.07% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.45%
• DSCR: 2.00
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,517
• Equity at exit: $31,237

10-year hold

• IRR: 4.0%
• Equity multiple: 1.23×
• Total profit: $13,716
• Equity at exit: $18,114

Cash invested: $58,660 (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: 820
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $4,337 high
• Mortgage (P&I): −$1,099
• Tax from tax record: −$266 /mo · $3,197/yr
• Insurance: −$87
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$876
• Vacancy / Maint / Mgmt: −$911
• Net cashflow: $671

Break-even live

Break-even rent $3,487

Max offer price $209,500

Occupancy floor 80%

Sensitivity live

Price	-10% $790	-5% $730	+0% $671	+5% $612	+10% $553
Rent	-10% $329	-5% $500	+0% $671	+5% $842	+10% $1,014
Rate	-1.0pp $777	-0.5pp $724	base $671	+0.5pp $617	+1.0pp $562

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: $52,375
• Closing costs: $6,285
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	26d	1	0.03mi
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	26d	1	0.11mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	26d	2	0.39mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	26d	1	0.48mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	26d	1	0.54mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	16d	1	0.54mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	26d	1	0.54mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	16d	1	0.64mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	16d	1	0.64mi
9217 Aviano Dr Fort Myers, FL	2.0	2.0	1227	$2,500	$2.04	13d	1	0.64mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	26d	1	0.69mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	5d	1	0.69mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	26d	1	0.82mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	26d	1	0.90mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	5d	1	0.91mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	26d	1	0.91mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	26d	1	0.92mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	14d	1	0.94mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	26d	1	0.95mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	26d	1	0.97mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	26d	1	1.11mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	26d	1	1.15mi
10800 Colonial Gateway Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1028	$1,956	$1.90	4d	106	1.16mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	23d	1	1.16mi
3100 Champion Ring Rd Fort Myers, FL	1.0–3.0	1.0–2.0	947	$1,641	$1.73	5d	19	1.18mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	18d	2	1.23mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	23d	1	1.23mi
3419 Forum Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	1049	$1,675	$1.60	5d	17	1.23mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	26d	1	1.28mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	26d	1	1.38mi
3247 Forum Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	1071	$1,720	$1.61	4d	22	1.39mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	26d	1	1.41mi
9851 6 Mile Cypress Pkwy Fort Myers, FL	3.0	1.0–2.0	1040	$2,056	$1.98	4d	42	1.43mi
7922 Dani Dr Fort Myers, FL	1.0–3.0	1.0–2.0	981	$1,710	$1.74	4d	32	1.48mi

HOA detail condo

• Monthly dues: $876 · $10,512/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-02
   status $209,500 Pending 63 DOM
2. 2026-06-01
   days on market $209,500 Active 63 DOM
3. 2026-06-01
   days on market $209,500 Active 62 DOM
4. 2026-05-20
   price $209,500
5. 2026-03-30
   listed $214,500 Active
6. 2026-03-29
   historical
7. 2026-03-04
   price $214,500
8. 2026-02-05
   price $234,900
9. 2025-12-15
   status Active
10. 2025-12-09
    status Pending
11. 2025-10-27
    price $238,500
12. 2025-08-04
    listed $242,500 Active
13. 2015-03-31
    price $160,000 610-char remark

    Show marketing remark (610 chars)

    LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

14. 2015-03-31
    soldstatus $160,000

    Show marketing remark (610 chars)

    LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

15. 2015-03-27
    soldstatus $160,000 Sold 610-char remark

    Show marketing remark (610 chars)

    LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

16. 2015-03-27
    price $165,000 610-char remark

    Show marketing remark (610 chars)

    LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

17. 2015-02-08
    status Pending 610-char remark

    Show marketing remark (610 chars)

    LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

18. 2015-01-28
    listed $165,000 Active 610-char remark

    Show marketing remark (610 chars)

    LOVELY & BRIGHT 2 BEDROOM/2 BATH ---- TOP FLOOR. .. .. END UNIT. Spectacular views. Granite counter tops, upgraded cabinets in kitchen & baths. Master has a sliding door onto the screened lanai. Too many features to list, come see for yourself. Location, location, location this unit has it all just a short walk to the Town Center that has a theatre, restaurant, ice cream store, exercise room, indoor pool and walking track and much more, it has everything anyone would want in a gated community, including a beautiful clubhouse for fine dining and a pub after playing golf, tennis or exercising.

ⓘ 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: $3,197 · $266/mo
• Projected year-2 tax: $3,197 · $266/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 27 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: $52,041
• − Mortgage interest: −$11,735
• − Property taxes: −$3,197
• − Insurance: −$6,166
• − Repairs & maintenance: −$4,163
• − Management: −$4,163
• − HOA: −$10,512
• − Depreciation: −$6,095
• Taxable income: $6,010
• Est. tax owed @ 24.0%: −$1,442
• After-tax cash flow: $6,611/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 — 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

+27.0% since first listed

15 events — show timeline

• 2026-05-20 Price Changed $209,500 FORTMLS
• 2026-03-30 Listed $214,500 FORTMLS
• 2026-03-29 Listing Removed — FORTMLS
• 2026-03-04 Price Changed $214,500 FORTMLS
• 2026-02-05 Price Changed $234,900 FORTMLS
• 2025-12-15 Relisted — FORTMLS
• 2025-12-09 Pending — FORTMLS
• 2025-10-27 Price Changed $238,500 FORTMLS
• 2025-08-04 Listed $242,500 FORTMLS
• 2015-03-31 Price Changed $160,000 FORTMLS
• 2015-03-31 Sold (Public Records) $160,000 Public Records
• 2015-03-27 Price Changed $165,000 FORTMLS
• 2015-03-27 Sold (MLS) $160,000 FORTMLS
• 2015-02-08 Pending — FORTMLS
• 2015-01-28 Listed $165,000 FORTMLS

Property tax history

+0.0%/yr

Latest (2025): $3,197 · -1.9% YoY. Source: county tax records.