20051 Seagrove St #1208 · Estero, FL 33928

$399,900

3 bd · 2.0 ba · 1,736 sqft · Condo public records · 235 Days on market

Built 2004 $1026/mo HOA · 17% of rent

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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 +27.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

AWESOME OPPORTUNITY!!! Here's your chance to own in prestigious Grandezza!!!! This home has it all!! Measuring OVER 2,000 Square Feet UNDER AIR, this HUGE carriage home is larger than many villas! FOUR BEDROOMS, THREE FULL BATHS, AND ATTACHED GARAGE!!! It's an END UNIT on the TOP FLOOR with several extra windows, providing tons of extra sunlight!!! This is a FABULOUS floor plan, featuring a HUGE master bedroom with cathedral ceiling and plant ledges and triple bay window that looks out over your LONG GOLF

Key facts

• Largest floor plan
• Screened lanai
• Modern kitchen

Tags

• END UNIT CONDO
• LARGEST FLOOR PLAN
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• SCREENED LANAI

Property features AI

Finance

• Other: Turnkey furnished
• Financial info: Total annual recurring fees and one-time fee information provided by association
• HOA & community: Mandatory HOA with professional management; Quarterly HOA fee; Mandatory annual club fee; Maintenance covers cable, insurance, irrigation water, lawn/land maintenance, legal/accounting, master association fee, exterior pest control, and water; Community amenities include clubhouse, community pool and spa, exercise room, business center, restaurant, bocce and putting green, tennis courts, golf course (non-equity) and private membership options

Exterior

• Parking: Attached garage with 1 garage space
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Carriage/coach style, low-rise (1-3 stories); Built in 2004; Rear exposure to the east; Located in the Grandezza development (Sabal Palm sub-condo)
• Construction: Concrete block construction
• Exterior features: Stucco exterior; Tile roof; Single-hung windows; Regular lot; Golf course and lake views; Reclaimed irrigation

Interior

• Kitchen: Range; Self-cleaning oven; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms plus den
• Flooring: Tile
• Bathrooms: 3 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Foyer; French doors; High-speed internet available; Smoke detectors; Vaulted ceiling; Walk-in closet; Window coverings; Great room; Split-bedroom floor plan; Screened lanai/porch; Den (study); Laundry in residence; Dining area (family)
• Laundry & utility: Washer; Dryer; Auto garage door

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.4% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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 (-1.4%/yr); 668 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $6,042/mo this rent would consume 71% of the median local household income ($103k/yr) (locally 606% 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 $3k of loan paydown is wiped out by about $12k 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 235 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $49k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $300k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $351,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.51% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.03%
• DSCR: 1.54
• GRM: 5.5

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: -2.6%
• Equity multiple: 0.91×
• Total profit: $-10,386
• Equity at exit: $59,626

10-year hold

• IRR: 2.6%
• Equity multiple: 1.15×
• Total profit: $17,158
• Equity at exit: $34,576

Cash invested: $111,972 (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 33928

• Rents YoY: -1.4%
• Active inventory: 668
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $6,042 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$361 /mo · $4,335/yr
• Insurance: −$167
• HOA: −$1,026
• Vacancy / Maint / Mgmt: −$1,269
• Net cashflow: $1,122

Break-even live

Break-even rent $4,621

Max offer price $399,900

Occupancy floor 76%

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20051 Seagrove St #1202 Estero, FL	3.0	2.0	1567	$5,995	$3.83	23d	1	0.04mi
20101 Seagrove St #708 Estero, FL	3.0	2.0	1431	$5,995	$4.19	23d	1	0.16mi
20057 Saraceno Dr Estero, FL	3.0	2.0	1848	$7,000	$3.79	23d	1	0.19mi
20053 Saraceno Dr Estero, FL	3.0	2.0	2045	$8,995	$4.40	23d	1	0.19mi
20112 Saraceno Dr Estero, FL	3.0	2.0	2107	$10,750	$5.10	23d	1	0.26mi
20150 Seagrove St #2701 Estero, FL	3.0	2.5	1856	$2,895	$1.56	15d	1	0.29mi
20151 Seagrove St #206 Estero, FL	2.0	2.0	1735	$6,000	$3.46	23d	1	0.29mi
20161 Seagrove St #108 Estero, FL	2.0	2.0	1655	$5,995	$3.62	23d	1	0.32mi
20161 Seagrove St #102 Estero, FL	2.0	2.0	1702	$6,000	$3.53	23d	1	0.32mi
20083 Seadale Ct Estero, FL	2.0	2.0	1981	$10,500	$5.30	23d	1	0.33mi
20099 Seadale Ct Estero, FL	3.0	2.0	2079	$5,500	$2.65	23d	1	0.34mi
20271 Calice Ct #2304 Estero, FL	3.0	2.0	2009	$10,500	$5.23	23d	1	0.53mi
20240 Burnside Pl #1603 Estero, FL	3.0	2.5	1656	$5,995	$3.62	23d	1	0.57mi
20310 Calice Ct #1202 Estero, FL	3.0	2.0	1569	$5,500	$3.51	23d	1	0.62mi
12595 Grandezza Cir Estero, FL	3.0	2.0	1649	$10,500	$6.37	23d	1	0.72mi
20092 Palermo Lake Ct Estero, FL	3.0	2.0	1975	$7,995	$4.05	23d	1	0.74mi
19520 Highland Oaks Dr Estero, FL	3.0	1.0–2.0	977	$2,720	$2.78	1d	18	0.76mi
21301 Lancaster Run #822 Estero, FL	2.0	2.0	1134	$2,700	$2.38	23d	1	0.77mi
21311 Lancaster Run #721 Estero, FL	2.0	2.0	1200	$5,499	$4.58	23d	1	0.80mi
21330 Lancaster Run #1218 Estero, FL	2.0	2.0	1225	$2,500	$2.04	21d	1	0.90mi
21330 Lancaster Run Estero, FL	2.0	2.0	1225	$2,300	$1.88	23d	2	0.90mi
21300 Lancaster Run #926 Estero, FL	2.0	2.0	1360	$2,200	$1.62	10d	1	0.90mi
21361 Lancaster Run #225 Estero, FL	2.0	2.0	1134	$2,000	$1.76	23d	1	0.92mi
21340 Lancaster Run #1327 Estero, FL	2.0	2.0	1134	$2,500	$2.20	23d	1	0.93mi
21371 Lancaster Run #122 Estero, FL	2.0	2.0	1134	$4,800	$4.23	23d	1	0.95mi
21350 Lancaster Run Estero, FL	2.0	2.0	1200	$1,822	$1.52	3d	2	0.96mi
19640 Marino Lake Cir #2602 Miromar Lakes, FL	2.0	2.0	2034	$7,000	$3.44	23d	1	0.97mi
21370 Lancaster Run #1622 Estero, FL	2.0	2.0	1134	$4,500	$3.97	23d	1	0.99mi
19630 Marino Lake Cir #2702 Miromar Lakes, FL	2.0	2.0	2034	$7,500	$3.69	23d	1	0.99mi
19721 Marino Lake Cir #1002 Miromar Lakes, FL	3.0	2.0	2034	$5,000	$2.46	11d	1	1.04mi
10530 Otter Key Ln Estero, FL	2.0	2.0	2062	$2,995	$1.45	3d	1	1.04mi
10541 Marino Pointe Dr #2002 Miromar Lakes, FL	2.0	2.0	2034	$8,500	$4.18	23d	1	1.06mi
20257 Royal Villagio Ct Estero, FL	2.0–3.0	2.0	1364	$2,300	$1.69	3d	2	1.14mi
20257 Royal Villagio Ct #202 Estero, FL	3.0	2.0	1537	$2,300	$1.50	23d	1	1.14mi
19649 Aqua View Ln Fort Myers, FL	3.0	2.0	2178	$6,000	$2.75	23d	1	1.22mi
19649 Aqua View Ln Fort Myers, FL	3.0	2.0	2178	$8,500	$3.90	15d	1	1.22mi
10101 Villagio Palms Way Estero, FL	3.0	2.0–2.5	1732	$2,550	$1.47	3d	2	1.23mi
21489 Sheridan Run Estero, FL	3.0	2.0	1645	$10,000	$6.08	23d	1	1.26mi
20651 Wildcat Run Dr #101 Estero, FL	3.0	2.0	1624	$3,495	$2.15	23d	1	1.28mi
20202 Ainsley St Estero, FL	3.0	3.0	2135	$4,200	$1.97	3d	1	1.29mi

HOA detail condo

• Monthly dues: $1,026 · $12,312/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-17
   days on market $399,900 Active 235 DOM
2. 2026-06-16
   days on market $399,900 Active 234 DOM
3. 2026-06-16
   days on market $399,900 Active 233 DOM
4. 2026-06-13
   days on market $399,900 Active 231 DOM
5. 2026-06-09
   days on market $399,900 Active 227 DOM
6. 2026-06-07
   days on market $399,900 Active 225 DOM
7. 2026-06-02
   days on market $399,900 Active 220 DOM
8. 2026-06-01
   days on market $399,900 Active 219 DOM
9. 2026-06-01
   days on market $399,900 Active 218 DOM
10. 2026-05-02
    price $399,900
11. 2026-03-26
    price $414,900
12. 2026-02-07
    price $429,900
13. 2025-10-25
    listed $449,000 Active
14. 2025-03-19
    historical $5,900
15. 2024-12-14
    price $5,900
16. 2024-11-15
    listed $6,700
17. 2023-11-03
    soldstatus $300,000
18. 2021-01-21
    soldstatus $275,000
19. 2017-04-26
    soldstatus $262,500
20. 2017-03-09
    price $269,900
21. 2005-06-22
    soldstatus $364,000
22. 2005-05-17
    price $369,721 510-char remark

    Show marketing remark (510 chars)

    AWESOME OPPORTUNITY!!! Here's your chance to own in prestigious Grandezza!!!! This home has it all!! Measuring OVER 2,000 Square Feet UNDER AIR, this HUGE carriage home is larger than many villas! FOUR BEDROOMS, THREE FULL BATHS, AND ATTACHED GARAGE!!! It's an END UNIT on the TOP FLOOR with several extra windows, providing tons of extra sunlight!!! This is a FABULOUS floor plan, featuring a HUGE master bedroom with cathedral ceiling and plant ledges and triple bay window that looks out over your LONG GOLF

23. 2005-05-17
    soldstatus $364,000 510-char remark

    Show marketing remark (510 chars)

    AWESOME OPPORTUNITY!!! Here's your chance to own in prestigious Grandezza!!!! This home has it all!! Measuring OVER 2,000 Square Feet UNDER AIR, this HUGE carriage home is larger than many villas! FOUR BEDROOMS, THREE FULL BATHS, AND ATTACHED GARAGE!!! It's an END UNIT on the TOP FLOOR with several extra windows, providing tons of extra sunlight!!! This is a FABULOUS floor plan, featuring a HUGE master bedroom with cathedral ceiling and plant ledges and triple bay window that looks out over your LONG GOLF

24. 2005-02-04
    soldstatus $299,000

ⓘ 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: $4,335 · $361/mo
• Projected year-2 tax: $4,335 · $361/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 5/10 Major
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,507
• − Mortgage interest: −$22,401
• − Property taxes: −$4,335
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,801
• − Management: −$5,801
• − HOA: −$12,312
• − Depreciation: −$11,633
• Taxable income: $8,225
• Est. tax owed @ 24.0%: −$1,974
• After-tax cash flow: $11,495/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 — Estero

• Score: 79/100
• State rank: #149
• US rank: #2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estero, FL
• County: Lee County · 788,662 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 606.0

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 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• 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

+33.7% since first listed

15 events — show timeline

• 2026-05-02 Price Changed $399,900 NAPLESMLS
• 2026-03-26 Price Changed $414,900 NAPLESMLS
• 2026-02-07 Price Changed $429,900 NAPLESMLS
• 2025-10-25 Listed $449,000 NAPLESMLS
• 2025-03-19 Rental Removed $5,900 NAPLESMLS
• 2024-12-14 Price Changed $5,900 NAPLESMLS
• 2024-11-15 Listed for Rent $6,700 NAPLESMLS
• 2023-11-03 Sold (Public Records) $300,000 Public Records
• 2021-01-21 Sold (Public Records) $275,000 Public Records
• 2017-04-26 Sold (Public Records) $262,500 Public Records
• 2017-03-09 Price Changed $269,900 BEARMLS
• 2005-06-22 Sold (Public Records) $364,000 Public Records
• 2005-05-17 Sold (MLS) $364,000 FORTMLS
• 2005-05-17 Price Changed $369,721 FORTMLS
• 2005-02-04 Sold (Public Records) $299,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $4,335 · -0.1% YoY. Source: county tax records.