200 Periwinkle Way #111 · Sanibel, FL
Flood risk 9/10 · Severe
- FEMA flood zone
- AE
- Chance of flooding over 30 yrs
- 0.99%
- Est. flood insurance / yr
- $1,737 – $8,500
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $947 – $1,759
Heat risk 10/10 · Severe
- Hot days now (above 113°F)
- 7 days/yr
- Hot days in 30 yrs
- 27 days/yr
Wind risk 10/10 · Severe
- Chance of severe wind over 30 yrs
- 99.0%
Air-quality risk 2/10 · Minimal
- Unhealthy air days now
- 1 days/yr
- Unhealthy air days in 30 yrs
- 1 days/yr
Risk factors via First Street. Map © Google.
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 +6.9/10.0
- Condition / age +4.0/5.0
- Livability +3.4/5.0
- Rent growth +2.5/5.0
- Appreciation +0.0/10.0
$548,000
200 Periwinkle Way #111 · Sanibel, FL 33957
2 bd · 2.0 ba · 1,585 sqft · Condo
public records
· 504 Days on market
Built 1977
$346/sqft
· 52% below area
$1729/mo HOA · 14% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Located in the sought-after bayfront community of Lighthouse Point on Sanibel Island’s east end, this beautifully remodeled end-unit condo offers the perfect balance of style, comfort, and coastal charm. Featuring a very neutral palette and an open split floor plan, the unit provides an airy, inviting atmosphere with ideal walk-out access and tranquil garden views. Residents enjoy exclusive access to premium community amenities, including a heated swimming pool, clubhouse, tennis courts, and elevator service. Just steps away, discover the world-famous Sanibel Lighthouse and the popular fishing pier—perfect for morning strolls or casting a line at sunset.
Key facts
- Walk-out access
- Heated swimming pool
- $1,729 HOA
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath condo listed at $548k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $4k ($47k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($12k rent vs $548k).
- Recommended offer: $482k (12.0% below list) — sets the bar for market timing.
- Cap rate 15.8% vs local median 2.6% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing D+, amenities F, commute 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.
- Zoned schools: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
- Market conditions: 582 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
- At $12,333/mo this rent would consume 121% of the median local household income ($123k/yr) — 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.
- At projected returns (-3.0% appreciation + 3.0% rent growth), your $153k cash investment doubles in ~4 years — after that, you're playing with house money.
Negotiation context
- It's been on market 504 days — a 12% lower offer ($482k) is reasonable based on typical stale-listing flexibility.
- 3 sale attempts since 7y 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.
Risks & watch-outs
- Watch-outs: flood insurance adds $427/mo.
- 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
$482,240
(12.0% below list)
Questions for the listing agent
- It's been on market 504 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
- Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- 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?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
- 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.
- 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.
- 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
- 2.25% ✓
- Cap rate
- 15.83%
- Cash-on-cash
- 34.04%
- DSCR
- 2.51
- GRM
- 3.7
CMA / ARV
- ARV (median comp)
- $1,246,326
- List price
- $548,000
- Delta
- -56.03%
- Verdict
- UNDERPRICED
- Comps
- 5 within 1.0 mi
Show comp detail 6 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 1101 Seagrape Ln Unit 5A | 0.32mi | 3/2.0 (+1) | 1,633 (+3%) | 20mo | $1,150,000 | $704 | 59 |
| 1010 Kings Crown Dr | 1.02mi | 3/3.0 (+1) | 1,597 (+1%) | 9mo | $1,025,000 | $642 | 48 |
| 651 E Gulf Dr #111 | 0.96mi | 3/2.0 (+1) | 1,542 (-3%) | 26mo | $1,460,000 | $947 | 36 |
| 1154 Harbor Cottage Ct | 1.16mi | 3/2.0 (+1) | 1,493 (-6%) | 19mo | $1,150,000 | $770 | 35 |
| 976 Sand Castle Rd | 1.29mi | 3/3.0 (+1) | 1,698 (+7%) | 35mo | $859,000 | $506 | 24 |
| 950 Sand Castle Rd | 1.40mi | 3/2.0 (+1) | 1,773 (+12%) | 32mo | $870,000 | $491 | 20 |
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 · 3.0% rent growth · sell at horizon
5-year hold
- IRR
- 25.6%
- Equity multiple
- 2.06×
- Total profit
- $162,718
- Equity at exit
- $81,709
10-year hold
- IRR
- 33.4%
- Equity multiple
- 4.06×
- Total profit
- $469,537
- Equity at exit
- $47,381
Cash invested: $153,440 (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.
Active competition Active MLS
- For sale now
- 2 active
- Median asking
- $624,850 ($395/sqft)
- Median days on market
- 182 d
- This list price
- lowest-priced of the active set
- ARV vs active asking
- +99.0% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 33957
- Home prices YoY
- -15.7%
- Active inventory
- 582
- Price-to-rent
- 3.7×
Monthly cashflow live
↻
- Estimated rent
- $12,333 medium interval (Pro) →
- Mortgage (P&I)
- −$2,874
- Tax from tax record
- −$559 /mo · $6,706/yr
- Insurance
- −$228
- Flood insurance flood zone
- −$427 /mo · $5,118/yr
- HOA
- −$1,729
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$2,590
- Net cashflow
- $3,927
Break-even live
Break-even rent
$7,363
Max offer price
$548,000
Occupancy floor
63%
Sensitivity live
| Price | -10% $4,237 | -5% $4,082 | +0% $3,927 | +5% $3,771 | +10% $3,616 |
|---|---|---|---|---|---|
| Rent | -10% $2,952 | -5% $3,439 | +0% $3,927 | +5% $4,414 | +10% $4,901 |
| Rate | -1.0pp $4,203 | -0.5pp $4,066 | base $3,927 | +0.5pp $3,785 | +1.0pp $3,640 |
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
- $137,000
- Closing costs
- $16,440
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 2 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 434 Lagoon Dr Sanibel, FL | 2.0 | 2.0 | 1360 | $6,000 | $4.41 | 10d | 1 | 0.47mi |
| 424 Lagoon Dr Sanibel, FL | 3.0 | 2.0 | 1704 | $18,200 | $10.68 | 119d | 1 | 0.48mi |
Property features AI
Finance
- Other
- Pets allowed conditionally (owners only), maximum of 1 pet
- Financial info
- Community of 69 units
- HOA & community
- Homeowners association with monthly feeAssociation amenities include boat dock, clubhouse, bike storage, barbecue, picnic area, shuffleboard court, tennis courts, managementAssociation fee covers management, cable TV, internet, grounds maintenance, security, trash
Exterior
- Security
- Security/high-impact doorsCommunity security included in association
- Utilities
- Public waterPublic sewerCable availableHigh-speed internet available
- Home design
- Single-story residenceEntry at level 1Faces southResale property
- Construction
- Block and concrete constructionMetal roof
- Exterior features
- Security/high-impact doorsTennis court(s)Private in-ground poolBayfront waterfrontNorth exposureMunicipal irrigation
Interior
- Kitchen
- Refrigerator
- Bedrooms
- DenFlorida room
- Flooring
- Wood floors
- Bathrooms
- 2 full bathrooms
- Heating & cooling
- Central heating (electric)Central air conditioning (electric)
- Interior features
- Impact glass windowsFrench doorsLiving/dining roomSplit bedroom layoutShower-only with separate shower
- Laundry & utility
- Interior laundry
HOA detail $1,729/mo · $20,748/yr condo
- Likely covers
- pool
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 50 events
-
2026-09-24days on market $548,000 Active 504 DOM
-
2026-09-23days on market $548,000 Active 503 DOM
-
2026-09-22days on market $548,000 Active 502 DOM
-
2026-09-21days on market $548,000 Active 501 DOM
-
2026-09-17days on market $548,000 Active 497 DOM
-
2026-09-13days on market $548,000 Active 493 DOM
-
2026-09-13days on market $548,000 Active 492 DOM
-
2026-09-11days on market $548,000 Active 491 DOM
-
2026-09-05days on market $548,000 Active 485 DOM
-
2026-09-04days on market $548,000 Active 484 DOM
-
2026-08-31days on market $548,000 Active 480 DOM
-
2026-08-28days on market $548,000 Active 477 DOM
-
2026-08-26days on market $548,000 Active 475 DOM
-
2026-08-24days on market $548,000 Active 473 DOM
-
2026-08-23days on market $548,000 Active 472 DOM
-
2026-08-21days on market $548,000 Active 470 DOM
-
2026-08-20days on market $548,000 Active 469 DOM
-
2026-08-19days on market $548,000 Active 468 DOM
-
2026-08-18days on market $548,000 Active 467 DOM
-
2026-08-16days on market $548,000 Active 465 DOM
-
2026-08-15days on market $548,000 Active 464 DOM
-
2026-08-13days on market $548,000 Active 462 DOM
-
2026-08-10days on market $548,000 Active 459 DOM
-
2026-08-09days on market $548,000 Active 458 DOM
-
2026-08-06days on market $548,000 Active 455 DOM
-
2026-08-05days on market $548,000 Active 454 DOM
-
2026-08-04days on market $548,000 Active 453 DOM
-
2026-07-26days on market $548,000 Active 444 DOM
-
2026-07-24days on market $548,000 Active 442 DOM
-
2026-07-23days on market $548,000 Active 441 DOM
-
2026-07-22days on market $548,000 Active 440 DOM
-
2026-07-21days on market $548,000 Active 439 DOM
-
2026-07-18days on market $548,000 Active 436 DOM
-
2026-07-18days on market $548,000 Active 435 DOM
-
2026-07-16days on market $548,000 Active 434 DOM
-
2026-07-15days on market $548,000 Active 433 DOM
-
2026-07-13days on market $548,000 Active 431 DOM
-
2026-07-13days on market $548,000 Active 430 DOM
-
2026-07-12days on market $548,000 Active 429 DOM
-
2026-07-10days on market $548,000 Active 428 DOM
-
2026-07-10days on market $548,000 Active 427 DOM
-
2026-07-07days on market $548,000 Active 425 DOM
-
2026-07-06days on market $548,000 Active 424 DOM
-
2026-07-05days on market $548,000 Active 423 DOM
-
2026-07-02days on market $548,000 Active 420 DOM
-
2026-07-01days on market $548,000 Active 419 DOM
-
2026-06-30days on market $548,000 Active 418 DOM
-
2026-06-29days on market $548,000 Active 417 DOM
-
2026-06-28days on market $548,000 Active 416 DOM
-
2026-06-25days on market $548,000 Active 412 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
- $6,706 · $559/mo
- Projected year-2 tax
- $6,706 · $559/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
- Wildfire 1/10 Low
- Heat 10/10 Extreme 7 d/yr ≥113°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
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $147,996
- − Mortgage interest
- −$30,697
- − Property taxes
- −$6,706
- − Insurance
- −$7,858
- − Repairs & maintenance
- −$11,840
- − Management
- −$11,840
- − HOA
- −$20,748
- − Depreciation
- −$15,942
- Taxable income
- $42,365
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$10,168
- After-tax cash flow
- $36,951/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 · 9 photos
80/100
Cosmetic rehab
Est. rehab $7,925–$23,775 screening
This remodeled end-unit condo in Lighthouse Point offers a good condition with modern interiors and a great location. It's ready for a fresh coat of paint and some landscaping to maximize its value.
Value-add opportunities
- Both Paint exterior — Enhances curb appeal and resale value ↑
- Both Landscaping — Improves curb appeal and rental value ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
C
Composite school gradezoned avg 68/100
Zoned Schools
Elementary
The Sanibel School
A+
FL #5/2,144
Nat'l #94/41,679
High
Cypress Lake High School
D-
FL #228/667
Nat'l #6,809/17,239
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
C
Composite livability gradescore 67/100
Livability — Sanibel
- Score
- 67/100
- State rank
- #541
- US rank
- #10166
Category grades
Amenities F
Commute F
Cost of living F
Crime A+
Employment A+
Housing D+
Health & safety D-
User ratings A+
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Sanibel, FL
- County
- Lee · 871,946 people
- City population
- 6,402
- Metro
- Cape Coral-Fort Myers, FL
- Population (ZIP)
- 6,402
- Household income
- $122,730
- Rent vs Own
- Severe rent burden
- 3% of renters
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 (95%)
- Race & ethnicity
- White 95% Two or more races 2% Asian 1%
- Common ancestry
- Italian 4% Romanian 4% Slovak 2%
- Foreign-born
- 5% · Canada, China
- Languages at home
- 96% English-only · German/W. Germanic 1% Spanish 1% 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
- ▼ -93.08%
- Current HPI
- 501.0
- Rent YoY
- —
- Metro
- —
- 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
+143.6% since first listed11 events — show timeline
- 2025-05-08 Listed $548,000 FORTMLS
- 2021-01-21 Sold (Public Records) $645,000 Public Records
- 2020-10-31 Listing Removed — FORTMLS
- 2020-07-30 Listed $645,000 FORTMLS
- 2019-09-30 Listing Removed — FORTMLS
- 2019-08-01 Price Changed $634,000 FORTMLS
- 2019-04-30 Price Changed $639,000 FORTMLS
- 2019-01-10 Listed $665,000 FORTMLS
- 2003-03-28 Sold (Public Records) $529,000 Public Records
- 1999-12-09 Sold (Public Records) $252,500 Public Records
- 1991-04-23 Sold (Public Records) $225,000 Public Records
Property tax history
+2.3%/yrLatest (2025): $6,706 · +634.7% YoY. Source: county tax records.
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…