887 Casa Ybel Rd · Sanibel, FL 33957

$699,000

4 bd · 3.0 ba · 2,764 sqft · MultiFamily public records · 42 Days on market

Built 1974 0.34 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Rare opportunity to own reconfigured interior Duplex post Ian to a 5/bed, 4/bath complex. Building mitigated in 2023 and completed in 2025. All impact doors & windows that include patio doors to open porches to enjoy your morning coffee. The Left side is a 2/bed, 1/bath with a private driveway entry. Right side is a much larger floor plan, 2/bedroom, 2 baths with 2 separate patio/decks. Efficiency unit on far right has 1/bed, 1/bath. Great opportunity for investors due to shortage of island rentals. Live on one side while renting out the other or use as family compound, in-law suite, worker housing for resorts. Endless possibilities! Ground level building zoned residential multi-famil

Key facts

• Separate patio
• Patio doors
• Impact doors

Tags

• IMPACT DOORS
• PATIO DOORS
• PRIVATE DRIVEWAY ENTRY
• SEPARATE PATIO
• GROUND LEVEL BUILDING
• ZONED RESIDENTIAL MULTI-FAMILY

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; Community has 2 units

Exterior

• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Single-story; Entry level: 1; Faces east
• Construction: Block, concrete and stucco construction; Built-up, flat and metal roof
• Exterior features: Fence; Security/high-impact doors; Patio

Interior

• Flooring: Tile flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Furnished; Sliding windows; Impact glass windows; Living/dining room; See remarks

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Recommended offer: $678k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.8% 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: schools A+, 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.
• Market conditions: 526 active listings in the ZIP; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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 $196k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($678k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 11y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $495k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $678,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.27% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.13×
• Total profit: $26,230
• Equity at exit: $104,223

10-year hold

• IRR: 13.0%
• Equity multiple: 2.04×
• Total profit: $202,863
• Equity at exit: $60,437

Cash invested: $195,720 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $8,902 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$461 /mo · $5,534/yr
• Insurance: −$291
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,869
• Net cashflow: $2,188

Break-even live

Break-even rent $6,132

Max offer price $699,000

Occupancy floor 70%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$4,451
1× unit	2	2	$4,451
Total (2 units)			$8,902

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-05-01
   status Pending
2. 2026-04-20
   price $699,000
3. 2026-03-18
   listed $749,000 Active
4. 2025-04-22
   historical
5. 2025-02-28
   price $849,000
6. 2025-02-06
   listed $945,500 Active
7. 2025-02-06
   historical
8. 2024-10-22
   listed $1,050,000 Active
9. 2023-09-14
   historical
10. 2023-08-18
    price $799,000
11. 2023-04-10
    price $699,000
12. 2023-03-27
    historical
13. 2023-03-22
    listed $795,000 Active
14. 2023-03-22
    listed $795,000 Active
15. 2019-11-01
    historical
16. 2019-05-17
    price $549,900
17. 2019-05-02
    price $559,000
18. 2019-05-02
    price $549,900
19. 2019-04-08
    listed $599,900 Active
20. 2018-07-01
    historical
21. 2018-04-19
    status Active
22. 2018-04-12
    status Pending With Contingencies
23. 2018-01-03
    price $575,000
24. 2018-01-02
    listed $565,000 Active
25. 2017-12-31
    historical
26. 2017-09-15
    listed $575,000 Active
27. 2016-04-30
    historical
28. 2016-03-10
    price $649,000
29. 2016-03-08
    price $675,000
30. 2016-01-05
    listed $689,000 Active
31. 2016-01-04
    historical
32. 2015-09-08
    listed $689,000 Active
33. 2015-08-10
    historical
34. 2015-06-26
    listed $699,000 Active
35. 2005-12-09
    soldstatus $495,000
36. 2005-12-01
    soldstatus $495,000
37. 2005-11-30
    price $499,000
38. 1995-04-10
    soldstatus $135,000
39. 1994-10-01
    soldstatus $141,800

ⓘ 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: $5,534 · $461/mo
• Projected year-2 tax: $5,802 · $483/mo
• Expected delta: +$268/yr (+$22/mo · 4.8%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 26 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: $106,824
• − Mortgage interest: −$39,155
• − Property taxes: −$5,534
• − Insurance: −$8,614
• − Repairs & maintenance: −$8,546
• − Management: −$8,546
• − Depreciation: −$20,335
• Taxable income: $16,095
• Est. tax owed @ 24.0%: −$3,863
• After-tax cash flow: $22,393/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 — 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
• City population: 6,402
• Population (ZIP): 6,402

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

+392.9% since first listed

39 events — show timeline

• 2026-05-01 Pending — FORTMLS
• 2026-04-20 Price Changed $699,000 FORTMLS
• 2026-03-18 Listed $749,000 FORTMLS
• 2025-04-22 Listing Removed — FORTMLS
• 2025-02-28 Price Changed $849,000 FORTMLS
• 2025-02-06 Listing Removed — FORTMLS
• 2025-02-06 Listed $945,500 FORTMLS
• 2024-10-22 Listed $1,050,000 FORTMLS
• 2023-09-14 Listing Removed — FORTMLS
• 2023-08-18 Price Changed $799,000 FORTMLS
• 2023-04-10 Price Changed $699,000 FORTMLS
• 2023-03-27 Listing Removed — FORTMLS
• 2023-03-22 Listed $795,000 FORTMLS
• 2023-03-22 Listed $795,000 FORTMLS
• 2019-11-01 Listing Removed — NAPLESMLS
• 2019-05-17 Price Changed $549,900 NAPLESMLS
• 2019-05-02 Price Changed $559,000 NAPLESMLS
• 2019-05-02 Price Changed $549,900 NAPLESMLS
• 2019-04-08 Listed $599,900 NAPLESMLS
• 2018-07-01 Listing Removed — FORTMLS
• 2018-04-19 Relisted — FORTMLS
• 2018-04-12 Pending — FORTMLS
• 2018-01-03 Price Changed $575,000 FORTMLS
• 2018-01-02 Listed $565,000 FORTMLS
• 2017-12-31 Listing Removed — FORTMLS
• 2017-09-15 Listed $575,000 FORTMLS
• 2016-04-30 Listing Removed — FORTMLS
• 2016-03-10 Price Changed $649,000 FORTMLS
• 2016-03-08 Price Changed $675,000 FORTMLS
• 2016-01-05 Listed $689,000 FORTMLS
• 2016-01-04 Listing Removed — FORTMLS
• 2015-09-08 Listed $689,000 FORTMLS
• 2015-08-10 Listing Removed — FORTMLS
• 2015-06-26 Listed $699,000 FORTMLS
• 2005-12-09 Sold (Public Records) $495,000 Public Records
• 2005-12-01 Sold (MLS) $495,000 FORTMLS
• 2005-11-30 Price Changed $499,000 FORTMLS
• 1995-04-10 Sold (Public Records) $135,000 Public Records
• 1994-10-01 Sold (Public Records) $141,800 Public Records

Property tax history

-0.6%/yr

Latest (2025): $5,534 · -29.2% YoY. Source: county tax records.