2985 Saint Charles St · Fort Myers, FL 33916

$175,000

3 bd · 2.0 ba · 1,420 sqft · SingleFamily public records · 41 Days on market

Built 1963 6,490 sqft lot Est $290k · 40% under

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.3/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in Fort Myers! value-packed home with strong upside—perfect for a first-time buyer ready to build equity or a savvy handyman/investor looking for their next project. This property offers a solid footprint and plenty of potential to update and customize to your taste. Bring your vision and transform this into a standout home. Conveniently located near shopping, dining, schools, and major roadways. Priced with updates in mind—don’t miss your chance to create instant value in a growing area.

Key facts

• 6,490 sq ft lot
• Parking
• Built 1963

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached carport; Two parking spaces (one covered/carport space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story; Entry level: 1; Faces south; Resale property
• Construction: Block, concrete and stucco construction; Shingle roof; Built on foundation (original construction materials listed)
• Exterior features: Patio; Paved road access; Rectangular lot; North exposure

Interior

• Kitchen: Microwave; Range; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Living/dining room; Tub with shower; Single-hung windows; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.0% 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.
• Market conditions: Rents falling (-4.3%/yr); 267 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $1,983/mo this rent would consume 45% of the median local household income ($53k/yr) (locally 2324% 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 $5k 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 41 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $175k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 9.02%
• Cash-on-cash: 9.76%
• DSCR: 1.43
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $289,680
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2921 Lafayette St	0.14mi	3/2.0	1,519 (+7%)	14mo	$155,000	$102	70
2809 Thomas St	0.27mi	3/2.0	1,259 (-11%)	14mo	$199,900	$159	57
2924 Dunbar Ave	0.18mi	4/3.0 (+1)	1,619 (+14%)	4mo	$330,000	$204	56
2639 Saint Charles St	0.45mi	3/2.0	1,317 (-7%)	16mo	$300,000	$228	53
2979 Blount St	0.49mi	4/2.0 (+1)	1,392 (-2%)	21mo	$265,000	$190	51
2981 Market St	0.06mi	4/1.0 (+1)	1,248 (-12%)	24mo	$259,900	$208	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-8,789
• Equity at exit: $26,093

10-year hold

• IRR: 0.9%
• Equity multiple: 1.05×
• Total profit: $2,582
• Equity at exit: $15,131

Cash invested: $49,000 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 267
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,983 high
• Mortgage (P&I): −$918
• Tax from tax record: −$178 /mo · $2,130/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $398

Break-even live

Break-even rent $1,479

Max offer price $175,000

Occupancy floor 75%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2987 Thomas St Fort Myers, FL	3.0	2.0	1200	$2,100	$1.75	21d	1	0.11mi
2147 Pauldo St Fort Myers, FL	3.0	2.0	1088	$1,395	$1.28	23d	1	0.12mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1285	$2,300	$1.79	15d	1	0.16mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1111	$2,300	$2.07	3d	1	0.16mi
3141 Edison Ave Fort Myers, FL	4.0	1.0	1136	$1,500	$1.32	23d	1	0.25mi
3034 Price Ave Fort Myers, FL	3.0	2.0	1367	$2,100	$1.54	3d	1	0.25mi
2218 Quality Life Center Way Fort Myers, FL	4.0	2.0	1257	$2,250	$1.79	23d	1	0.28mi
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$2,021	$2.05	2d	34	0.36mi
2225 Carver Ave Fort Myers, FL	3.0	2.0	1193	$2,200	$1.84	23d	1	0.37mi
3306 Bassie Ct Fort Myers, FL	4.0	2.0	1257	$2,100	$1.67	23d	1	0.40mi
2651 Market St Fort Myers, FL	3.0	2.0	1184	$1,295	$1.09	23d	1	0.44mi
2649 Market St Unit 2651 Fort Myers, FL	3.0	2.0	1184	$1,250	$1.06	19d	1	0.44mi
2627 Saint Charles St Fort Myers, FL	4.0	2.0	1400	$1,850	$1.32	14d	1	0.47mi
3341 Willard St Fort Myers, FL	4.0	2.0	1619	$2,500	$1.54	19d	1	0.50mi
3341 Willard St Fort Myers, FL	4.0	2.0	1257	$2,500	$1.99	15d	1	0.50mi
3216 Dale St Fort Myers, FL	2.0	1.0	886	$1,650	$1.86	3d	1	0.54mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.56mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,900	$1.73	23d	1	0.56mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.56mi
2103 French St Unit 2 Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	23d	1	0.56mi
3417 South St Fort Myers, FL	3.0	2.0	1008	$1,695	$1.68	23d	1	0.65mi
3425 South St Fort Myers, FL	3.0	1.0	1132	$1,395	$1.23	3d	1	0.66mi
2656 Lime St Fort Myers, FL	4.0	2.0	1232	$1,700	$1.38	3d	1	0.69mi
2525 Royal Palm Ave Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	23d	1	0.76mi
2330 Hoople St Fort Myers, FL	3.0	2.0	1250	$1,750	$1.40	15d	1	0.85mi
2188 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	0.86mi
2132 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	0.88mi
2197 Davis Ct Fort Myers, FL	4.0	2.0	1257	$2,450	$1.95	2d	1	0.94mi
2579 Second St Fort Myers, FL	3.0	2.0	1404	$2,500	$1.78	15d	1	0.94mi
3323 Michigan Ave Fort Myers, FL	3.0	2.0	1029	$1,600	$1.55	21d	1	0.97mi
1629 Poinsettia Ave Fort Myers, FL	2.0	1.0	1410	$2,500	$1.77	23d	1	0.98mi
2330 Union St Fort Myers, FL	3.0	1.0–2.0	951	$3,714	$3.90	3d	27	1.02mi
2822 Central Ave Fort Myers, FL	3.0	2.0	1641	$1,100	$0.67	23d	1	1.05mi
2741 First St Apt 207 Fort Myers, FL	2.0	2.5	1250	$1,995	$1.60	14d	1	1.11mi
2741 First St Apt 203 Fort Myers, FL	2.0	2.5	1150	$1,825	$1.59	14d	1	1.11mi
2741 First St Apt 204 Fort Myers, FL	2.0	2.5	1200	$1,850	$1.54	14d	1	1.11mi
2741 1st St Fort Myers, FL	2.0	2.5	1250	$1,975	$1.58	11d	1	1.11mi
2817 Jackson St Fort Myers, FL	3.0	2.0	1200	$2,200	$1.83	23d	1	1.11mi
2480 First St Fort Myers, FL	2.0	1.0–2.0	984	$2,499	$2.54	2d	26	1.12mi
2711 1st St Fort Myers, FL	2.0	2.0	1201	$1,690	$1.41	23d	2	1.13mi

Listing history 17 events

1. 2026-05-05
   status Pending
2. 2026-04-10
   price $175,000
3. 2026-03-25
   listed $205,000 Active
4. 2026-01-10
   historical $2,250
5. 2025-10-30
   listed $2,250
6. 2025-10-09
   historical $1,500
7. 2025-08-02
   price $1,500
8. 2025-08-01
   listed $2,000
9. 2025-08-01
   historical $2,000
10. 2025-07-31
    listed $2,000
11. 2024-08-24
    historical $1,999
12. 2024-06-05
    historical $1,999
13. 2024-06-05
    listed $1,999
14. 2024-03-04
    listed $1,999
15. 2020-12-12
    historical
16. 2020-06-16
    listed $135,000 Active
17. 2005-07-27
    soldstatus $80,000

ⓘ 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: $2,130 · $178/mo
• Projected year-2 tax: $2,130 · $178/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $23,796
• − Mortgage interest: −$9,803
• − Property taxes: −$2,130
• − Insurance: −$875
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − Depreciation: −$5,091
• Taxable income: $2,090
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $4,279/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): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

+118.8% since first listed

17 events — show timeline

• 2026-05-05 Pending — FORTMLS
• 2026-04-10 Price Changed $175,000 FORTMLS
• 2026-03-25 Listed $205,000 FORTMLS
• 2026-01-10 Rental Removed $2,250 APPFOLIO
• 2025-10-30 Listed for Rent $2,250 APPFOLIO
• 2025-10-09 Rental Removed $1,500 FORTMLS
• 2025-08-02 Price Changed $1,500 FORTMLS
• 2025-08-01 Listed for Rent $2,000 FORTMLS
• 2025-08-01 Rental Removed $2,000 NAPLESMLS
• 2025-07-31 Listed for Rent $2,000 NAPLESMLS
• 2024-08-24 Rental Removed $1,999 NAPLESMLS
• 2024-06-05 Rental Removed $1,999 FORTMLS
• 2024-06-05 Listed for Rent $1,999 NAPLESMLS
• 2024-03-04 Listed for Rent $1,999 FORTMLS
• 2020-12-12 Listing Removed — FORTMLS
• 2020-06-16 Listed $135,000 FORTMLS
• 2005-07-27 Sold (Public Records) $80,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,130 · -1.4% YoY. Source: county tax records.