1874 Ibis Ln · Sanibel, FL 33957

$699,000

2 bd · 2.0 ba · 1,880 sqft · SingleFamily public records · 72 Days on market

Built 1972 0.25 ac lot Est $696k · at est. $6/mo HOA

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.3/15.0
• 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

GREAT OPPORTUNITY, Mid-Island location, close to shopping and all your island needs. Nice floor plan with 3 bedrooms, 2 baths, living/dining room, single car garage, Travertine marble floors throughout and new roof 7/2022. Patio with in ground spa. Property backs up to conservation land. This home has damage from hurricane Ian. This will be an "AS IS" cash only sale. Drywall has been removed and is in the process of clean up inside and out. The seller does not make any warranties on this property.

Key facts

• Impact glass windows
• Private backyard
• Gas fireplace

Tags

• IMPACT GLASS WINDOWS
• GLASS SLIDING DOOR
• HEATED POOL
• PRIVATE BACKYARD
• CONSERVATION LAND
• GAS FIREPLACE

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Annual association fee $75; Non-gated community

Exterior

• Parking: Attached garage with garage door opener (1 covered space, 1 garage space)
• Security: High-impact doors
• Utilities: Public water; Public sewer; Cable available; High speed internet available
• Home design: Single-story; Resale property; Faces west
• Construction: Built with block, concrete and stucco; Metal roof; One story
• Exterior features: Fence; Security/high-impact doors; Outdoor grill; Outdoor shower; Patio; Open patio/porch; Porch; Outside bath access for pool; Has view; East exposure

Interior

• Kitchen: Dishwasher; Freezer; Disposal; Microwave; Range; Refrigerator; Wine cooler
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Built-in features; Bathtub; Dual sinks; Eat-in kitchen; Fireplace; Living/dining room; Pantry; Separate shower; Cable TV; Vaulted ceiling(s); High speed internet; Sliding windows; Impact glass windows; Furnished
• Laundry & utility: Washer included; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $699k.

Deal economics

• At list price, monthly cash flow is $10k ($120k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $699k).
• Recommended offer: $657k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.2% 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; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $196k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($657k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.
• Current owner paid $485k; 44% 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 $657,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.72% ✓
• Cap rate: 24.24%
• Cash-on-cash: 64.09%
• DSCR: 3.85
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $695,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1832 Farm Trl	0.31mi	2/2.0	1,618 (-14%)	4mo	$599,000	$370	59

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: 60.4%
• Equity multiple: 3.69×
• Total profit: $525,686
• Equity at exit: $104,223

10-year hold

• IRR: 65.0%
• Equity multiple: 7.55×
• Total profit: $1,281,561
• Equity at exit: $60,437

Cash invested: $195,720 (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: 3.1×

Monthly cashflow live

• Estimated rent: $18,993 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$588 /mo · $7,062/yr
• Insurance: −$291
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$6
• Vacancy / Maint / Mgmt: −$3,988
• Net cashflow: $10,026

Break-even live

Break-even rent $6,301

Max offer price $699,000

Occupancy floor 42%

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1679 Serenity Ln Unit 1323695P Sanibel, FL	3.0	2.0	1646	$7,115	$4.32	16d	1	0.60mi
1235 Par View Dr Sanibel, FL	2.0	2.0	1534	$3,500	$2.28	21d	1	0.69mi
2445 W Gulf Dr Unit 32E Sanibel, FL	2.0	2.0	1243	$18,000	$14.48	23d	1	1.33mi
2445 W Gulf Dr Unit 47B Sanibel, FL	2.0	2.0	1243	$20,000	$16.09	23d	1	1.35mi

HOA detail

• Monthly dues: $6 · $72/yr

Listing history 19 events

1. 2026-06-17
   days on market $699,000 Active 72 DOM
2. 2026-06-16
   days on market $699,000 Active 71 DOM
3. 2026-06-15
   days on market $699,000 Active 70 DOM
4. 2026-06-13
   days on market $699,000 Active 68 DOM
5. 2026-06-10
   days on market $699,000 Active 65 DOM
6. 2026-06-09
   days on market $699,000 Active 64 DOM
7. 2026-06-07
   days on market $699,000 Active 62 DOM
8. 2026-06-03
   days on market $699,000 Active 58 DOM
9. 2026-06-02
   days on market $699,000 Active 57 DOM
10. 2026-06-01
    days on market $699,000 Active 56 DOM
11. 2026-06-01
    days on market $699,000 Active 55 DOM
12. 2026-04-06
    listed $699,000 Active
13. 2022-12-08
    soldstatus $485,000
14. 2022-12-06
    soldstatus $485,000 Closed 512-char remark

    Show marketing remark (512 chars)

    GREAT OPPORTUNITY, Mid-Island location, close to shopping and all your island needs. Nice floor plan with 3 bedrooms, 2 baths, living/dining room, single car garage, Travertine marble floors throughout and new roof 7/2022. Patio with in ground spa. Property backs up to conservation land. This home has damage from hurricane Ian. This will be an "AS IS" cash only sale. Drywall has been removed and is in the process of clean up inside and out. The seller does not make any warranties on this property.

15. 2022-11-17
    status Pending 512-char remark

    Show marketing remark (512 chars)

    GREAT OPPORTUNITY, Mid-Island location, close to shopping and all your island needs. Nice floor plan with 3 bedrooms, 2 baths, living/dining room, single car garage, Travertine marble floors throughout and new roof 7/2022. Patio with in ground spa. Property backs up to conservation land. This home has damage from hurricane Ian. This will be an "AS IS" cash only sale. Drywall has been removed and is in the process of clean up inside and out. The seller does not make any warranties on this property.

16. 2022-11-15
    listed $595,000 Active 512-char remark

    Show marketing remark (512 chars)

    GREAT OPPORTUNITY, Mid-Island location, close to shopping and all your island needs. Nice floor plan with 3 bedrooms, 2 baths, living/dining room, single car garage, Travertine marble floors throughout and new roof 7/2022. Patio with in ground spa. Property backs up to conservation land. This home has damage from hurricane Ian. This will be an "AS IS" cash only sale. Drywall has been removed and is in the process of clean up inside and out. The seller does not make any warranties on this property.

17. 1997-07-02
    soldstatus $155,000
18. 1987-03-10
    soldstatus $125,000
19. 1987-03-01
    soldstatus $125,000

ⓘ 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: $7,062 · $588/mo
• Projected year-2 tax: $7,062 · $588/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $227,911
• − Mortgage interest: −$39,155
• − Property taxes: −$7,062
• − Insurance: −$8,614
• − Repairs & maintenance: −$18,233
• − Management: −$18,233
• − HOA: −$72
• − Depreciation: −$20,335
• Taxable income: $116,209
• Est. tax owed @ 24.0%: −$27,890
• After-tax cash flow: $92,425/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

+459.2% since first listed

8 events — show timeline

• 2026-04-06 Listed $699,000 FORTMLS
• 2022-12-08 Sold (Public Records) $485,000 Public Records
• 2022-12-06 Sold (MLS) $485,000 FORTMLS
• 2022-11-17 Pending — FORTMLS
• 2022-11-15 Listed $595,000 FORTMLS
• 1997-07-02 Sold (Public Records) $155,000 Public Records
• 1987-03-10 Sold (Public Records) $125,000 Public Records
• 1987-03-01 Sold (Public Records) $125,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $7,062 · +8.7% YoY. Source: county tax records.