513 Rabbit Rd · Sanibel, FL 33957

$839,000

3 bd · 2.0 ba · 1,975 sqft · SingleFamily public records · 247 Days on market

Built 1976 10,236 sqft lot Est $1130k · 26% under

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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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.3/10.0
• 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

Listing remarks MLS

So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

Key facts

• Outside shower
• Private beach access
• Updated kitchen

Tags

• PRIVATE BEACH ACCESS
• SCREENED IN HEATED POOL
• GLASSED IN PATIO
• OUTSIDE SHOWER
• UPDATED KITCHEN
• IMPACT WINDOWS

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association amenities include beach rights, beach access, and guest suites; Association fee includes cable TV; Non-gated community

Exterior

• Parking: Driveway (unpaved)
• Security: Security/high-impact doors; Smoke detector(s)
• Utilities: Cable available; High speed internet available; Public water (assessment paid); Public sewer (assessment paid)
• Home design: Single-story; Entry level: 1; Faces southeast; Resale property
• Construction: Block, concrete and stucco construction; Metal roof
• Exterior features: Patio; Balcony; Glass-enclosed patio/porch; Screened areas; Outdoor shower; Security/high-impact doors; Patio and porch; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Refrigerator; Self-cleaning oven
• Bedrooms: Includes guest quarters; Florida room listed as a room type
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Partially furnished; Impact glass windows; Window coverings; Breakfast bar; Living/dining room; Main level primary; Shower only with separate shower; Cable TV; Window treatments; High speed internet; Fireplace
• Laundry & utility: Washer; Dryer; Inside laundry with laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $839k.

Deal economics

• At list price, monthly cash flow is $899 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $839k).
• Recommended offer: $738k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 2 comparable units currently listed for rent nearby; 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 $6k of loan paydown is wiped out by about $25k 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 247 days — a 12% lower offer ($738k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $108k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $628k; 33% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $738,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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. 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 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: 1.03% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $1,129,700
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
731 Durion Ct	0.50mi	3/2.0	1,748 (-12%)	6mo	$999,000	$572	53
547 Chert Ct	0.29mi	3/2.5	1,790 (-9%)	21mo	$889,000	$497	52

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-78,492
• Equity at exit: $125,098

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $6,169
• Equity at exit: $72,541

Cash invested: $234,920 (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: 8.1×

Monthly cashflow live

• Estimated rent: $8,602 medium
• Mortgage (P&I): −$4,400
• Tax from tax record: −$720 /mo · $8,643/yr
• Insurance: −$350
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,806
• Net cashflow: $899

Break-even live

Break-even rent $7,464

Max offer price $839,000

Occupancy floor 85%

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: $209,750
• Closing costs: $25,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
548 Boulder Dr Sanibel, FL	3.0	3.0	1969	$6,500	$3.30	24d	1	0.40mi
707 Durion Ct Sanibel, FL	3.0	2.5	1306	$12,000	$9.19	24d	1	0.43mi

Listing history 25 events

1. 2026-06-17
   days on market $839,000 Active 247 DOM
2. 2026-06-16
   days on market $839,000 Active 246 DOM
3. 2026-06-16
   days on market $839,000 Active 245 DOM
4. 2026-06-13
   days on market $839,000 Active 243 DOM
5. 2026-06-09
   days on market $839,000 Active 239 DOM
6. 2026-06-07
   days on market $839,000 Active 237 DOM
7. 2026-06-02
   days on market $839,000 Active 232 DOM
8. 2026-06-01
   days on market $839,000 Active 231 DOM
9. 2026-06-01
   days on market $839,000 Active 230 DOM
10. 2026-04-29
    price $839,000
11. 2026-01-12
    price $887,000
12. 2025-10-09
    listed $947,000 Active
13. 2019-09-16
    soldstatus $628,500
14. 2019-09-13
    soldstatus $628,500 Sold 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

15. 2019-09-11
    status Pending 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

16. 2019-08-01
    status Pending With Contingencies 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

17. 2019-06-13
    price $648,000 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

18. 2019-03-25
    status Active 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

19. 2019-03-22
    status Pending With Contingencies 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

20. 2019-03-04
    listed $684,500 Active 881-char remark

    Show marketing remark (881 chars)

    So wonderfully close to the deeded beach access and spacious with a fantastic pool area receiving excellent sun exposure through the day. Only 3 minutes to the beach! The kitchen is beautifully remodeled with Curava countertops, a glass tile backsplash and stainless appliances. The open floor plan allows plenty of room for entertaining and living "Sanibel Style". After finding your mollusk treasures steps from your home you can enjoy lounging poolside or next to the cozy fireplace on a cool tropical evening. This property also features lush landscaping and a storage shed for all your island toys like kayaks, beach chairs and umbrellas! This property has not been in a rental program but it would rent well given its location and refinements. Additional improvements include pool resurfacing and beautiful bamboo flooring. Flood $3616 Homeowners $2186 Wind $2267

21. 2010-06-01
    soldstatus $425,000 725-char remark

    Show marketing remark (725 chars)

    Spacious tropical ground-level pool home updated over last 4 yrs (except HVAC replaced 7 yrs ago). Just 6 houses to gulf access to very private area of beach. Lush landscaping ensures privacy. New kitchen & baths, plus appliances, piping, outlets & switches, light fixtures, baseboards & moldings, doors & hardware. Neutral 18 Italian porcelain floors everywhere except 2 of the 3 bedrms. Garage converted to spacious living room by previous owner, now has fireplace. Great storage with 8'x8' storage bldg, trashcan shed, bike shed, & beach/garden shed. Extended new pool deck & enclosure, plus new gas pool heater. Enclosed hot/cold outdoor shower under the palms too. Sale price is AS IS.

22. 2010-06-01
    soldstatus $425,000

    Show marketing remark (725 chars)

    Spacious tropical ground-level pool home updated over last 4 yrs (except HVAC replaced 7 yrs ago). Just 6 houses to gulf access to very private area of beach. Lush landscaping ensures privacy. New kitchen & baths, plus appliances, piping, outlets & switches, light fixtures, baseboards & moldings, doors & hardware. Neutral 18 Italian porcelain floors everywhere except 2 of the 3 bedrms. Garage converted to spacious living room by previous owner, now has fireplace. Great storage with 8'x8' storage bldg, trashcan shed, bike shed, & beach/garden shed. Extended new pool deck & enclosure, plus new gas pool heater. Enclosed hot/cold outdoor shower under the palms too. Sale price is AS IS.

23. 2010-05-17
    price $449,900 725-char remark

    Show marketing remark (725 chars)

    Spacious tropical ground-level pool home updated over last 4 yrs (except HVAC replaced 7 yrs ago). Just 6 houses to gulf access to very private area of beach. Lush landscaping ensures privacy. New kitchen & baths, plus appliances, piping, outlets & switches, light fixtures, baseboards & moldings, doors & hardware. Neutral 18 Italian porcelain floors everywhere except 2 of the 3 bedrms. Garage converted to spacious living room by previous owner, now has fireplace. Great storage with 8'x8' storage bldg, trashcan shed, bike shed, & beach/garden shed. Extended new pool deck & enclosure, plus new gas pool heater. Enclosed hot/cold outdoor shower under the palms too. Sale price is AS IS.

24. 1998-10-09
    soldstatus $267,000
25. 1986-10-01
    soldstatus $146,000

ⓘ 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: $8,643 · $720/mo
• Projected year-2 tax: $8,643 · $720/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 25 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: $103,221
• − Mortgage interest: −$46,997
• − Property taxes: −$8,643
• − Insurance: −$9,314
• − Repairs & maintenance: −$8,258
• − Management: −$8,258
• − Depreciation: −$24,407
• Taxable loss: −$2,655
• Est. tax savings @ 24.0%: +$637
• After-tax cash flow: $11,428/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

+474.7% since first listed

16 events — show timeline

• 2026-04-29 Price Changed $839,000 FORTMLS
• 2026-01-12 Price Changed $887,000 FORTMLS
• 2025-10-09 Listed $947,000 FORTMLS
• 2019-09-16 Sold (Public Records) $628,500 Public Records
• 2019-09-13 Sold (MLS) $628,500 FORTMLS
• 2019-09-11 Pending — FORTMLS
• 2019-08-01 Pending — FORTMLS
• 2019-06-13 Price Changed $648,000 FORTMLS
• 2019-03-25 Relisted — FORTMLS
• 2019-03-22 Pending — FORTMLS
• 2019-03-04 Listed $684,500 FORTMLS
• 2010-06-01 Sold (Public Records) $425,000 Public Records
• 2010-06-01 Sold (MLS) $425,000 FORTMLS
• 2010-05-17 Price Changed $449,900 FORTMLS
• 1998-10-09 Sold (Public Records) $267,000 Public Records
• 1986-10-01 Sold (Public Records) $146,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $8,643 · +11.7% YoY. Source: county tax records.