20771 Mystic Way · North Fort Myers, FL 33917

$306,000

2 bd · 2.0 ba · 1,548 sqft · SingleFamily public records · 14 Days on market

Built 2001 7,622 sqft lot Est $365k · 16% under $242/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 +18.0/30.0
• ARV discount +14.8/15.0
• 1% rule +6.2/10.0
• DSCR +5.6/10.0
• 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

Welcome to this beautifully maintained Spoonbill model nestled in the heart of the highly sought-after Herons Glen Golf & Country Club. This versatile 2-bedroom, 2-bath home with a den/optional 3rd bedroom offers an inviting open-concept floor plan designed for comfortable living and effortless entertaining. The spacious great room flows seamlessly to the covered lanai, where you can relax and enjoy peaceful views of a private preserve, creating the perfect backdrop for morning coffee or evening gatherings. The thoughtfully designed layout provides abundant natural light, generous living spaces, and flexibility to accommodate guests, a home office, or an additional bedroom. Adding to

Key facts

• Tennis
• Championship golf
• Covered lanai

Tags

• COVERED LANAI
• PRIVATE PRESERVE
• NEW ROOF
• GATED HERONS GLEN COMMUNITY
• CHAMPIONSHIP GOLF
• TENNIS

Property features AI

Finance

• Financial info: Pets allowed conditionally (call); maximum 3 pets
• HOA & community: Homeowners association with quarterly fee; HOA covers association management, cable TV, internet, irrigation water, legal/accounting, grounds maintenance, recreation facilities, reserve fund, road maintenance, street lights and security; Community amenities include clubhouse, golf course, tennis courts, pickleball, bocce, putting greens, shuffleboard, billiards, hobby rooms, restaurant, sauna, barbecue/picnic areas, sidewalks, trails and management

Exterior

• Parking: Attached 2-car garage; Detached garage space available; Paved parking
• Security: Gated community with security gate and guard; Smoke detectors
• Utilities: Cable available; Underground utilities; Sewer assessment paid; Water assessment paid
• Home design: Single-story home; Entry level 1; East-facing
• Construction: Block, concrete and stucco construction; Tile roof; Resale property
• Exterior features: Lanai (open, screened); Porch; Screened porch; Sprinkler/irrigation; Sprinklers automatic; West exposure; Private paved road frontage; Private maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: Includes guest quarters and a den (room types listed)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Breakfast bar; Bathtub; Dual sinks; Eat-in kitchen; Combined living and dining area; Pantry; Separate shower; Walk-in closet(s); High-speed internet; Split bedroom floor plan; Double-hung and sliding windows; Furnished
• Laundry & utility: Washer and dryer inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $306k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $306k).
• Cap rate 7.3% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,437/mo this rent would consume 75% 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 $9k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $183k; list at $306k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $306,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $365,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20708 Tisbury Ln	0.20mi	2/2.0	1,500 (-3%)	6mo	$272,000	$181	81
20686 Dennisport Ln	0.17mi	3/2.0 (+1)	1,617 (+4%)	2mo	$460,000	$284	78
20736 Mystic Way	0.12mi	3/2.0 (+1)	1,700 (+10%)	3mo	$350,000	$206	71
2521 Palo Duro Blvd	0.26mi	3/2.0 (+1)	1,644 (+6%)	20mo	$500,000	$304	56
20526 Plumwood Loop	0.53mi	2/2.0	1,497 (-3%)	18mo	$285,000	$190	55
3512 Via Athena	0.59mi	3/2.0 (+1)	1,537 (-1%)	15mo	$372,000	$242	54
20502 Plumwood Loop	0.55mi	2/2.0	1,497 (-3%)	18mo	$330,000	$220	54
20056 Sweetbay Dr	0.67mi	3/2.0 (+1)	1,672 (+8%)	4mo	$278,500	$167	47
2401 Palo Duro Blvd	0.31mi	3/2.0 (+1)	1,729 (+12%)	22mo	$460,000	$266	42
20224 Camino Torcido Loop	0.74mi	3/2.0 (+1)	1,670 (+8%)	16mo	$315,000	$189	34
20812 Wheelock Dr	0.71mi	2/2.0	1,760 (+14%)	16mo	$415,000	$236	31
20848 Wheelock Dr	0.75mi	3/2.0 (+1)	1,747 (+13%)	16mo	$490,000	$280	26

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-33,912
• Equity at exit: $45,626

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-12,178
• Equity at exit: $26,457

Cash invested: $85,680 (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: 7.4×

Monthly cashflow live

• Estimated rent: $3,437 high
• Mortgage (P&I): −$1,605
• Tax from tax record: −$479 /mo · $5,745/yr
• Insurance: −$128
• HOA: −$242
• Vacancy / Maint / Mgmt: −$722
• Net cashflow: $262

Break-even live

Break-even rent $3,105

Max offer price $306,000

Occupancy floor 87%

Sensitivity live

Price	-10% $435	-5% $349	+0% $262	+5% $175	+10% $89
Rent	-10% $-9	-5% $126	+0% $262	+5% $398	+10% $534
Rate	-1.0pp $416	-0.5pp $340	base $262	+0.5pp $183	+1.0pp $102

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: $76,500
• Closing costs: $9,180
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20728 Tisbury Ln North Fort Myers, FL	3.0	2.5	2133	$5,000	$2.34	15d	1	0.24mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	17d	1	0.29mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	22d	1	0.29mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	25d	1	0.47mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	17d	1	0.63mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	25d	1	0.63mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	15d	1	0.66mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	25d	1	0.67mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	20d	1	0.83mi
20719 Kaidon Ln North Fort Myers, FL	2.0	2.0	1538	$4,000	$2.60	25d	1	0.88mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	25d	1	0.92mi
20961 Skyler Dr North Fort Myers, FL	3.0	3.0	2133	$6,000	$2.81	25d	1	0.93mi
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	25d	1	1.04mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	4d	1	1.09mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	25d	1	1.46mi
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	25d	1	1.46mi

HOA detail

• Monthly dues: $242 · $2,904/yr

Listing history 10 events

1. 2026-06-18
   days on market $306,000 Active 14 DOM
2. 2026-06-17
   days on market $306,000 Active 13 DOM
3. 2026-06-16
   days on market $306,000 Active 12 DOM
4. 2026-06-15
   days on market $306,000 Active 11 DOM
5. 2026-06-13
   days on market $306,000 Active 9 DOM
6. 2026-06-10
   days on market $306,000 Active 6 DOM
7. 2026-06-09
   days on market $306,000 Active 5 DOM
8. 2026-06-08
   days on market $306,000 Active 4 DOM
9. 2026-06-07
   remarks 695-char remark
10. 2026-06-07
    listed $306,000 Active 3 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: $5,745 · $479/mo
• Projected year-2 tax: $5,745 · $479/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 · 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: $41,240
• − Mortgage interest: −$17,141
• − Property taxes: −$5,745
• − Insurance: −$1,530
• − Repairs & maintenance: −$3,299
• − Management: −$3,299
• − HOA: −$2,904
• − Depreciation: −$8,902
• Taxable loss: −$1,580
• Est. tax savings @ 24.0%: +$379
• After-tax cash flow: $3,523/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

+61.9% since first listed

4 events — show timeline

• 2026-06-04 Listed $306,000 FORTMLS
• 2003-11-17 Sold (Public Records) $183,000 Public Records
• 2003-11-14 Sold (MLS) $183,000 FORTMLS
• 2003-10-11 Price Changed $189,000 FORTMLS

Property tax history

+5.7%/yr

Latest (2025): $5,745 · +66.2% YoY. Source: county tax records.