3517 Crosswater Dr · North Fort Myers, FL 33917

$324,900

3 bd · 2.0 ba · 1,586 sqft · SingleFamily public records · 97 Days on market

Built 2014 6,272 sqft lot Est $351k · 7% under $253/mo HOA · 7% of rent

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Why this score? — see what drove the C 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 +20.9/30.0
• ARV discount +10.8/15.0
• 1% rule +6.9/10.0
• DSCR +6.7/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This open and bright home offers high ceilings, daylight windows, eight-foot doors and shows like a brand new home. The kitchen offers ample, high quality 42” staggered cabinets with top and bottom molding and under cabinet lighting, granite, and stainless steel appliances. The property's features include tile on the diagonal in the living areas, tray ceilings in the living room and master bedroom, upgraded lighting and much more. On the patio, you will find the perfect place to watch the sun setting over the lake and golf course. The stylish Tommy Bahama furniture is negotiable. Located in the gated community Magnolia Landing Golf and CC, here you will find an 18-hole Championship golf course with over 7,200 yards, practice facilities, golf shop and restaurant. Homeowners have the option of purchasing a membership or playing at the daily rate. The community amenities include a resort-style pool, fitness center, lap pool, bocce ball, and shuffleboard.

Key facts

• Eight foot doors
• High ceilings
• Granite countertops

Tags

• HIGH CEILINGS
• ABUNDANT NATURAL LIGHT
• EIGHT FOOT DOORS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TILE SET ON THE DIAGONAL

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association (quarterly fee); HOA covers cable TV, irrigation water, and grounds maintenance; Community amenities: pool, fitness center, bocce court, pickleball, shuffleboard, sidewalks, management; Gated community; Community includes golf; 1,090 units in community

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 covered spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Underground utilities; Irrigation from municipal source
• Home design: Single-story home; Entry level: 1; Faces east; Has view; Waterfront on a lake; West exposure
• Construction: Block, concrete and stucco construction; Tile roof; Resale property
• Exterior features: Lanai / screened porch; Patio; Porch; Manual shutters; Patio and porch (screened)

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Refrigerator; Refrigerator with ice maker; Pantry
• Bedrooms: Master bedroom (14 x 15); Bedroom (12 x 11); Bedroom (12 x 11)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Tray ceilings; Formal dining room; Entrance foyer; Pantry; Dual sinks; Separate shower (shower only); Walk-in closet(s); Window treatments; Single-hung windows; Window coverings; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $296k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.6% in North 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, 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: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 8 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 $3,852/mo this rent would consume 84% of the median local household income ($55k/yr) (locally 775% 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 $10k 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 97 days — a 9% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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

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

Recommended offer $295,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $350,506
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3598 Crosswater Dr	0.18mi	3/2.0	1,672 (+5%)	2mo	$300,000	$179	81
3615 Crosswater Dr	0.21mi	3/2.0	1,672 (+5%)	3mo	$300,000	$179	79
20794 Kaidon Ln	0.27mi	3/2.0	1,532 (-3%)	4mo	$342,500	$224	78
3610 Rollingwater Way	0.23mi	3/2.0	1,670 (+5%)	8mo	$274,500	$164	74
20854 Kaidon Ln	0.40mi	3/2.0	1,538 (-3%)	4mo	$340,000	$221	73
3655 Crosswater Dr	0.28mi	3/2.0	1,670 (+5%)	8mo	$293,000	$175	71
3663 Crosswater Dr	0.30mi	3/2.0	1,670 (+5%)	9mo	$312,170	$187	70
20755 Kaidon Ln	0.30mi	3/2.0	1,538 (-3%)	14mo	$380,000	$247	70
3404 Crosswater Dr	0.23mi	3/2.0	1,750 (+10%)	7mo	$395,000	$226	66
3511 Via Montana Way	0.43mi	2/2.0 (-1)	1,492 (-6%)	1mo	$425,000	$285	65
20502 Sky Meadow Ln	0.45mi	3/2.0	1,702 (+7%)	6mo	$377,500	$222	62
20457 Camino Torcido Loop	0.71mi	3/2.0	1,647 (+4%)	14mo	$329,900	$200	49

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-24,979
• Equity at exit: $48,444

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $10,647
• Equity at exit: $28,091

Cash invested: $90,972 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,852 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$499 /mo · $5,984/yr
• Insurance: −$135
• HOA: −$253
• Vacancy / Maint / Mgmt: −$809
• Net cashflow: $453

Break-even live

Break-even rent $3,280

Max offer price $324,900

Occupancy floor 83%

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20719 Kaidon Ln North Fort Myers, FL	2.0	2.0	1538	$4,000	$2.60	23d	1	0.37mi
20961 Skyler Dr North Fort Myers, FL	3.0	3.0	2133	$6,000	$2.81	23d	1	0.65mi
20461 Camino Torcido Loop North Fort Myers, FL	4.0	2.0	1828	$2,250	$1.23	23d	1	0.69mi
20333 Camino Torcido Loop North Fort Myers, FL	4.0	2.0	1828	$3,800	$2.08	23d	1	0.75mi
20728 Tisbury Ln North Fort Myers, FL	3.0	2.5	2133	$5,000	$2.34	14d	1	0.99mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	23d	1	1.34mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	21d	1	1.45mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	16d	1	1.45mi

HOA detail

• Monthly dues: $253 · $3,036/yr
• Likely covers: poolgymsecurity

Listing history 16 events

1. 2026-06-01
   days on market $324,900 Active 97 DOM
2. 2026-04-06
   price $324,900
3. 2026-02-23
   listed $329,900 Active
4. 2023-02-03
   historical
5. 2023-01-25
   price $409,900
6. 2023-01-09
   price $415,900
7. 2022-12-29
   listed $418,900 Active
8. 2022-06-27
   soldstatus $418,000
9. 2022-06-23
   soldstatus $418,000 Closed 971-char remark

   Show marketing remark (971 chars)

   This open and bright home offers high ceilings, daylight windows, eight-foot doors and shows like a brand new home. The kitchen offers ample, high quality 42” staggered cabinets with top and bottom molding and under cabinet lighting, granite, and stainless steel appliances. The property's features include tile on the diagonal in the living areas, tray ceilings in the living room and master bedroom, upgraded lighting and much more. On the patio, you will find the perfect place to watch the sun setting over the lake and golf course. The stylish Tommy Bahama furniture is negotiable. Located in the gated community Magnolia Landing Golf and CC, here you will find an 18-hole Championship golf course with over 7,200 yards, practice facilities, golf shop and restaurant. Homeowners have the option of purchasing a membership or playing at the daily rate. The community amenities include a resort-style pool, fitness center, lap pool, bocce ball, and shuffleboard.

10. 2022-04-27
    status Pending 971-char remark

    Show marketing remark (971 chars)

    This open and bright home offers high ceilings, daylight windows, eight-foot doors and shows like a brand new home. The kitchen offers ample, high quality 42” staggered cabinets with top and bottom molding and under cabinet lighting, granite, and stainless steel appliances. The property's features include tile on the diagonal in the living areas, tray ceilings in the living room and master bedroom, upgraded lighting and much more. On the patio, you will find the perfect place to watch the sun setting over the lake and golf course. The stylish Tommy Bahama furniture is negotiable. Located in the gated community Magnolia Landing Golf and CC, here you will find an 18-hole Championship golf course with over 7,200 yards, practice facilities, golf shop and restaurant. Homeowners have the option of purchasing a membership or playing at the daily rate. The community amenities include a resort-style pool, fitness center, lap pool, bocce ball, and shuffleboard.

11. 2022-04-16
    listed $399,900 Active 971-char remark

    Show marketing remark (971 chars)

    This open and bright home offers high ceilings, daylight windows, eight-foot doors and shows like a brand new home. The kitchen offers ample, high quality 42” staggered cabinets with top and bottom molding and under cabinet lighting, granite, and stainless steel appliances. The property's features include tile on the diagonal in the living areas, tray ceilings in the living room and master bedroom, upgraded lighting and much more. On the patio, you will find the perfect place to watch the sun setting over the lake and golf course. The stylish Tommy Bahama furniture is negotiable. Located in the gated community Magnolia Landing Golf and CC, here you will find an 18-hole Championship golf course with over 7,200 yards, practice facilities, golf shop and restaurant. Homeowners have the option of purchasing a membership or playing at the daily rate. The community amenities include a resort-style pool, fitness center, lap pool, bocce ball, and shuffleboard.

12. 2015-02-02
    soldstatus $184,675
13. 2015-01-29
    soldstatus $184,675
14. 2014-11-11
    listed $184,675
15. 2013-04-26
    soldstatus $1,212,500
16. 2008-12-17
    soldstatus $24,023,798

ⓘ 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: $5,984 · $499/mo
• Projected year-2 tax: $5,984 · $499/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 8/10 Severe
• 🌡 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: $46,229
• − Mortgage interest: −$18,199
• − Property taxes: −$5,984
• − Insurance: −$1,624
• − Repairs & maintenance: −$3,698
• − Management: −$3,698
• − HOA: −$3,036
• − Depreciation: −$9,452
• Taxable income: $537
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $5,302/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

-98.6% since first listed

15 events — show timeline

• 2026-04-06 Price Changed $324,900 FORTMLS
• 2026-02-23 Listed $329,900 FORTMLS
• 2023-02-03 Listing Removed — FORTMLS
• 2023-01-25 Price Changed $409,900 FORTMLS
• 2023-01-09 Price Changed $415,900 FORTMLS
• 2022-12-29 Listed $418,900 FORTMLS
• 2022-06-27 Sold (Public Records) $418,000 Public Records
• 2022-06-23 Sold (MLS) $418,000 FORTMLS
• 2022-04-27 Pending — FORTMLS
• 2022-04-16 Listed $399,900 FORTMLS
• 2015-02-02 Sold (Public Records) $184,675 Public Records
• 2015-01-29 Sold (MLS) $184,675 NAPLESMLS
• 2014-11-11 Listed $184,675 NAPLESMLS
• 2013-04-26 Sold (Public Records) $1,212,500 Public Records
• 2008-12-17 Sold (Public Records) $24,023,798 Public Records

Property tax history

+9.4%/yr

Latest (2025): $5,984 · -7.4% YoY. Source: county tax records.