3111 Cottonwood Bnd #1704 · Verandah, FL 33905

$230,000

3 bd · 3.0 ba · 1,833 sqft · Townhouse public records · 16 Days on market

Built 2006 7,313 sqft lot Est $196k · 17% over $799/mo HOA · 23% of rent

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Why this score? — see what drove the D+ 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 +18.9/30.0
• 1% rule +9.9/10.0
• DSCR +6.0/10.0
• Schools +4.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Imagine calling this great Verandah home YOUR OWN! This townhome is located on a cul-de-sac, and provides the feel of a single family home with the maintenance-free lifestyle of a condo! 3 beds, 2-1/2 baths, complemented by a kitchen boasting gleaming countertops, white cabinets and a backsplash that makes this home just sparkle and shine! A natural gas cooking range is provided for the cooking enthusiast's! Diagonal tile welcomes you to the living area, a screened lanai overlooks a peaceful lake view. Upstairs you will find a spacious master suite including master bath with tiled shower and dual sinks! Two generous sized guest bedrooms as well as a guest bath are located down the hall. An attached garage with extra long driveway means extra parking space for your guests! PLUS Hurricane rated windows and doors throughout for ease of mind and roof replaced in 2018! Community pool right down the street. Kayak launch available for residents enjoyment. Verandah is located a short distance from the exciting River District, for great dining, the monthly art walk and music walk, Florida Repertory Theatre, concerts and so much more! Set your appointment to view this stunning home today!

Key facts

• Water views
• Community pool
• Granite countertops

Tags

• WATER VIEWS
• COMMUNITY POOL
• RESORT STYLE AMENITIES
• GRANITE COUNTERTOPS
• WALK IN PANTRY
• REME HALO IN DUCT AIR PURIFIER

Property features AI

Finance

• Other: Community of 102 units
• Financial info: Pets not allowed
• HOA & community: Homeowners association (quarterly fee); Association fees cover management, cable TV, internet, irrigation water, legal/accounting, pest control, road maintenance, street lights, security, trash and water; Community amenities include clubhouse, fitness center, pool, bocce court, pickleball, tennis courts, sidewalks, dog park, golf course and management; Gated community with golf and tennis courts

Exterior

• Parking: Attached garage; Garage door opener; 1 covered garage space
• Security: Smoke detector(s); Community security included in association
• Utilities: Cable available; Sewer assessment paid; Water assessment paid
• Home design: 2-story property; Resale home; Faces east
• Construction: Block, concrete and stucco construction; Tile roof
• Exterior features: Courtyard; Lanai; Porch (screened); Sprinkler/irrigation (automatic); Corner lot; Pond on lot; West exposure; Has view; Lakefront

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Garbage disposal; Icemaker; Refrigerator
• Bedrooms: Split bedroom layout
• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom; Dual sinks in bath
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Built-in features; Breakfast area; Eat-in kitchen; Pantry; Dual sinks; Separate shower; Shower only; Window treatments; Window coverings; Split bedrooms; Furnished
• Laundry & utility: Inside laundry; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (14.6% below list).
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $196k (14.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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 (-3.0%/yr); 763 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3,419/mo this rent would consume 57% of the median local household income ($72k/yr) (locally 1358% 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 $7k 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 16 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y 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; 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 $196,344 (14.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.49% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $196,131
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3211 Cottonwood Bnd #705	0.11mi	3/2.5	1,867 (+2%)	6mo	$200,000	$107	85

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: -28.5%
• Equity multiple: 0.09×
• Total profit: $-58,572
• Equity at exit: $34,294

10-year hold

• IRR: -73.1%
• Equity multiple: -0.58×
• Total profit: $-101,891
• Equity at exit: $19,886

Cash invested: $64,400 (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 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 763
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $3,419 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$364 /mo · $4,369/yr
• Insurance: −$96
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$799
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $-191

Break-even live

Break-even rent $3,660

Max offer price $196,344

Occupancy floor —

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3111 Cottonwood Bnd #1704 Fort Myers, FL	3.0	2.5	1833	$3,000	$1.64	23d	1	0.03mi
3100 Cottonwood Bnd #1901 Fort Myers, FL	3.0	2.5	1821	$2,500	$1.37	23d	1	0.03mi
3211 Cottonwood Bnd #701 Fort Myers, FL	3.0	3.0	1821	$2,500	$1.37	23d	1	0.09mi
3211 Cottonwood Bnd #705 Fort Myers, FL	3.0	2.5	1867	$3,000	$1.61	23d	1	0.09mi
3240 Cottonwood Bnd #201 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	23d	1	0.09mi
3181 Cottonwood Bnd #901 Fort Myers, FL	3.0	2.5	1821	$5,500	$3.02	23d	1	0.10mi
3210 Cottonwood Bnd #803 Fort Myers, FL	3.0	2.5	1867	$5,000	$2.68	3d	1	0.13mi
3111 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$2,700	$1.90	23d	1	0.51mi
3071 Meandering Way #101 Fort Myers, FL	2.0	2.0	1421	$3,000	$2.11	23d	1	0.54mi
3120 Meandering Way #202 Fort Myers, FL	3.0	2.0	1690	$3,000	$1.78	23d	1	0.54mi
3131 Orangetree Bnd Fort Myers, FL	3.0	3.0	1842	$7,000	$3.80	23d	1	0.85mi
12639 5th St Fort Myers, FL	4.0	2.0	1533	$1,900	$1.24	23d	1	1.19mi
12937 Fourth St Fort Myers, FL	2.0	1.0	1236	$1,900	$1.54	23d	1	1.34mi
2804 River Ridge Blvd Fort Myers, FL	2.0	2.0	1404	$1,350	$0.96	23d	1	1.36mi
2231 Lotus Rd Fort Myers, FL	3.0	2.0	1312	$1,885	$1.44	3d	1	1.43mi
3721 Pebblebrook Ridge Ct #102 Fort Myers, FL	2.0	2.0	1532	$2,950	$1.93	23d	1	1.45mi
3740 Pebblebrook Ridge Ct #102 Fort Myers, FL	2.0	2.0	1652	$2,500	$1.51	23d	1	1.49mi

HOA detail

• Monthly dues: $799 · $9,588/yr
• Likely covers: gaspool

Listing history 12 events

1. 2026-06-18
   days on market $230,000 Active 16 DOM
2. 2026-06-17
   days on market $230,000 Active 15 DOM
3. 2026-06-16
   days on market $230,000 Active 14 DOM
4. 2026-06-15
   days on market $230,000 Active 13 DOM
5. 2026-06-13
   days on market $230,000 Active 11 DOM
6. 2026-06-10
   days on market $230,000 Active 8 DOM
7. 2026-06-09
   days on market $230,000 Active 7 DOM
8. 2026-06-08
   days on market $230,000 Active 6 DOM
9. 2026-06-07
   remarks 693-char remark
10. 2026-06-07
    days on market $230,000 Active 5 DOM
11. 2026-06-02
    remarks 683-char remark
12. 2026-06-02
    listed $230,000 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: $4,369 · $364/mo
• Projected year-2 tax: $4,369 · $364/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 4/10 Moderate FEMA zone AE · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $41,029
• − Mortgage interest: −$12,884
• − Property taxes: −$4,369
• − Insurance: −$6,268
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − HOA: −$9,588
• − Depreciation: −$6,691
• Taxable loss: −$5,336
• Est. tax savings @ 24.0%: +$1,281
• After-tax cash flow: $-1,006/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 — Verandah

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Verandah, FL
• County: Lee County · 788,662 people
• City population: 40,908
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1358.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 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: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• 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

-90.0% since first listed

25 events — show timeline

• 2026-06-01 Listed $230,000 FORTMLS
• 2026-04-28 Rental Removed $3,200 NAPLESMLS
• 2026-04-28 Listed for Rent $3,200 NAPLESMLS
• 2026-02-16 Rental Removed $3,200 Avail
• 2026-02-14 Listed for Rent $3,200 FORTMLS
• 2026-02-14 Listed for Rent $3,200 Avail
• 2026-02-13 Rental Removed $5,000 FORTMLS
• 2025-11-19 Price Changed $5,000 FORTMLS
• 2025-11-03 Listed for Rent $5,500 FORTMLS
• 2021-08-31 Sold (Public Records) $229,000 Public Records
• 2021-08-30 Sold (MLS) $229,000 FORTMLS
• 2021-07-01 Pending — FORTMLS
• 2021-06-29 Listed $229,000 FORTMLS
• 2018-12-04 Pending — FORTMLS
• 2018-12-04 Sold (Public Records) $148,000 Public Records
• 2018-12-04 Sold (MLS) $148,000 FORTMLS
• 2018-10-29 Pending — FORTMLS
• 2018-09-28 Price Changed $153,900 FORTMLS
• 2018-09-28 Relisted — FORTMLS
• 2018-08-21 Listing Removed — FORTMLS
• 2018-03-10 Listed $155,000 FORTMLS
• 2013-12-17 Sold (Public Records) $103,000 Public Records
• 2013-12-17 Price Changed $109,900 FORTMLS
• 2013-12-17 Sold (MLS) $103,000 FORTMLS
• 2005-05-13 Sold (Public Records) $2,300,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $4,369 · -3.4% YoY. Source: county tax records.