9110 Southmont Cv #101 · Harlem Heights, FL 33908

$264,900

3 bd · 2.0 ba · 1,358 sqft · Condo public records · 1 Days on market

Built 1997 $1150/mo HOA · 23% of rent

---

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
• 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 MLS

IMMMACULATE LIGHT AND BRIGHT 3 BED/2 BED AMELIA FIRST FLOOR END UNIT LOCATED IN LEXINGTON'S LAKE VILLAGE! 18 TILE IN KITCHEN, ENTRY, DINING, AND LIVING AREAS! JANUARY 2013 A/C, 2009 HOT WATER HEATER, NEWLY SCREENED ENTRY AND LANAI (FEBRUARY 2013) CUSTOM MADE CORNICES PLUS SELLING FURNISHED! PAY AS YOU PLAY GOLF!

Key facts

• Split-bedroom layout
• Screened front entry
• $1,150 HOA

Tags

• FIRST-FLOOR AMELIA FLOOR PLAN
• SCREENED FRONT ENTRY
• PRIVATE EXTRA STORAGE CLOSET
• CERAMIC TILE FLOORING
• SPLIT-BEDROOM LAYOUT
• OVERSIZED SCREENED LANAI

Property features AI

Finance

• Other: Pets allowed with conditions (maximum 2 pets; breed restrictions may apply)
• Financial info: Association fee billed quarterly
• HOA & community: Homeowners association (quarterly fees); Association covers management, cable TV, internet, irrigation water, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, sewer, street lights, security, trash and water; Community amenities include clubhouse, fitness center, pool, cabana, tennis courts, pickleball, park, restaurant and private membership options; On-site management; Community of approximately 300 units; Community features: elevator, gated access, tennis courts, street lights

Exterior

• Parking: Assigned parking; Detached carport; One covered space
• Security: Gated community with guard; Security gate; Security guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Municipal irrigation
• Home design: Condominium (multi-unit community); Three stories; Entry level: 1; Faces southeast; Resale property
• Construction: Block, concrete and stucco construction; Tile roof
• Exterior features: Lanai; Porch; Screened porch; Sprinkler/Irrigation (automatic); Paved road access; Northwest exposure

Interior

• Kitchen: Dishwasher; Electric cooktop; Range; Self-cleaning oven; Microwave; Refrigerator; Freezer; Pantry; Breakfast bar
• Bedrooms: Split bedroom layout (bedrooms separated from main living areas)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Furnished; Breakfast bar; Dual sinks; Family/dining room; Living/dining room; Pantry; Separate shower; Shower only; Cable TV; Split bedrooms; Single hung windows
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $265k).
• Cap rate 11.4% vs local median 2.9% in Harlem Heights — 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 (#263 in FL, #4,209 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools F, amenities F, employment 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; 22 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 $5,109/mo this rent would consume 81% 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 $8k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $169k; list at $265k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 23% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $264,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.93% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• GRM: 4.3

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: -4.6%
• Equity multiple: 0.84×
• Total profit: $-12,119
• Equity at exit: $39,497

10-year hold

• IRR: -1.7%
• Equity multiple: 0.91×
• Total profit: $-6,694
• Equity at exit: $22,904

Cash invested: $74,172 (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: 4.3×

Monthly cashflow live

• Estimated rent: $5,109 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$257 /mo · $3,087/yr
• Insurance: −$110
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,150
• Vacancy / Maint / Mgmt: −$1,073
• Net cashflow: $703

Break-even live

Break-even rent $4,219

Max offer price $264,900

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9140 Southmont Cv #102 Fort Myers, FL	3.0	2.0	1331	$2,500	$1.88	14d	1	0.03mi
17100 Bridgestone Ct #303 Fort Myers, FL	2.0	2.0	1175	$4,575	$3.89	14d	1	0.16mi
17020 Willowcrest Way Fort Myers, FL	2.0–3.0	2.0	1344	$6,300	$4.69	16d	2	0.18mi
9170 Southmont Cv Fort Myers, FL	2.0–3.0	2.0	1358	$6,300	$4.64	14d	1	0.18mi
9190 Southmont Cv #309 Fort Myers, FL	3.0	2.0	1331	$6,500	$4.88	2d	1	0.18mi
8837 E Bay Cir Fort Myers, FL	2.0	2.0	1156	$2,600	$2.25	23d	1	0.23mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1282	$2,400	$1.87	23d	1	0.25mi
17120 Bridgestone Ct #104 Fort Myers, FL	2.0	2.0	1175	$2,400	$2.04	3d	1	0.25mi
16491 Millstone Cir #207 Fort Myers, FL	2.0	2.0	1348	$2,000	$1.48	14d	1	0.36mi
16481 Millstone Cir #207 Fort Myers, FL	3.0	2.0	1348	$2,700	$2.00	23d	1	0.40mi
9240 Willowcrest Ct Fort Myers, FL	2.0	2.0	1752	$8,500	$4.85	14d	1	0.41mi
16471 Millstone Cir #303 Fort Myers, FL	2.0	2.0	1068	$6,100	$5.71	14d	1	0.44mi
9201 Bayberry Bnd #103 Fort Myers, FL	2.0	2.0	1724	$3,500	$2.03	23d	1	0.45mi
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1498	$6,300	$4.21	16d	1	0.53mi
17006 Middlebrook Ct Fort Myers, FL	2.0	2.0	1247	$6,300	$5.05	14d	1	0.53mi
16320 Willowcrest Way Fort Myers, FL	2.0	2.0	1751	$8,700	$4.97	14d	1	0.57mi
16440 Millstone Cir #203 Fort Myers, FL	2.0	2.0	1067	$6,300	$5.90	14d	1	0.60mi
9241 Bayberry Bnd #103 Fort Myers, FL	3.0	2.0	1584	$4,725	$2.98	14d	1	0.60mi
9240 Bayberry Bnd #103 Fort Myers, FL	3.0	2.0	1584	$6,600	$4.17	23d	1	0.61mi
16421 Millstone Cir Fort Myers, FL	2.0	2.0	1068	$4,400	$4.12	16d	2	0.62mi
16430 Millstone Cir #103 Fort Myers, FL	2.0	2.0	1067	$6,300	$5.90	14d	1	0.63mi
9250 Bayberry Bnd #202 Fort Myers, FL	2.0	2.0	1669	$4,950	$2.97	14d	1	0.64mi

HOA detail condo

• Monthly dues: $1,150 · $13,800/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $264,900 Active 1 DOM

ⓘ 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: $3,087 · $257/mo
• Projected year-2 tax: $3,087 · $257/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $61,312
• − Mortgage interest: −$14,839
• − Property taxes: −$3,087
• − Insurance: −$6,443
• − Repairs & maintenance: −$4,905
• − Management: −$4,905
• − HOA: −$13,800
• − Depreciation: −$7,706
• Taxable income: $5,628
• Est. tax owed @ 24.0%: −$1,351
• After-tax cash flow: $7,086/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 — Harlem Heights

• Score: 75/100
• State rank: #263
• US rank: #4209

Category grades

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

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

+118.9% since first listed

9 events — show timeline

• 2026-06-16 Listed $264,900 FORTMLS
• 2025-06-09 Listing Removed — NAPLESMLS
• 2025-03-28 Listed $350,000 NAPLESMLS
• 2013-04-22 Sold (Public Records) $169,000 Public Records
• 2013-04-19 Sold (MLS) $169,000 FORTMLS
• 2013-03-06 Price Changed $177,000 FORTMLS
• 2005-08-17 Sold (Public Records) $295,000 Public Records
• 2005-08-08 Sold (MLS) $295,000 FORTMLS
• 1998-12-03 Sold (Public Records) $121,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $3,087 · -4.7% YoY. Source: county tax records.