11951 Champions Green Way #401 · Gateway, FL 33913

$227,500

3 bd · 2.0 ba · 1,317 sqft · Condo public records · 13 Days on market

Built 2007 $679/mo HOA · 22% of rent ↓ 35% since listing

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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 +16.9/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on the first floor in the gated community of Gateway Greens and not in a flood zone, this beautifully maintained 3 bedroom, 2 bath condo offers stunning golf course views and a one car garage. The open and spacious floor plan features a brand new roof, brand new A/C, and a newer water heater. The large primary suite includes a ceiling fan, decorative wainscoting, a walk in closet, walk in tiled shower, upgraded dual vanities, and granite countertops. The spacious eat in kitchen is equipped with stainless steel appliances, a pantry, abundant cabinet space, granite countertops, tile backsplash, upgraded sink and faucet, recessed lighting, and modern fixtures. Additional upgrades inclu

Key facts

• Gated community
• Brand new a/c
• Brand new roof

Tags

• GATED COMMUNITY
• GOLF COURSE VIEWS
• BRAND NEW ROOF
• BRAND NEW A/C
• NEWER WATER HEATER
• WALK IN CLOSET

Property features AI

Finance

• Other: Irrigation included in assessment; Pets allowed with conditions (call)
• Financial info: Association fee listed quarterly
• HOA & community: Homeowners association (64 units in community); Quarterly association fee (includes grounds maintenance and pest control); Community amenities: clubhouse, fitness center, pool, cabana, golf course, putting greens, tennis courts, barbecue/picnic areas, park, trails, management; Gated community with street lights

Exterior

• Parking: Assigned attached garage (1 covered space)
• Security: Gated community; Security gate with guard; Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Entry level 1; PUD zoning; Faces west; Resale property
• Construction: Tile roof; Built with brick, block, concrete, and stucco
• Exterior features: Patio; Lanai; Screened porch; Porch; Sprinkler/irrigation (automatic); Security/high impact doors; Community pool; Has view; East exposure; Paved public road; Zero lot line

Interior

• Kitchen: Range; Microwave; Refrigerator; Pantry; Eat-in kitchen
• Bedrooms: Includes a bedroom on the main level
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Unfurnished; Single hung windows; Bedroom on main level; Dual sinks; Eat-in kitchen; Family/Dining room; Living/Dining room; Pantry; Shower only (separate shower); Walk-in closet(s); High speed internet
• Laundry & utility: Washer; Dryer; Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $228k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $228k).
• Cap rate 7.1% vs local median 3.5% in Gateway — 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 69/100 on livability (#477 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living 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 flat; 811 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); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 34% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,500

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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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 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: 1.37% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.45×
• Total profit: $-34,946
• Equity at exit: $33,921

10-year hold

• IRR: -16.0%
• Equity multiple: 0.25×
• Total profit: $-47,509
• Equity at exit: $19,670

Cash invested: $63,700 (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 33913

• Home prices YoY: -10.3%
• Rents YoY: 0.4%
• Active inventory: 811
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,118 high
• Mortgage (P&I): −$1,193
• Tax from tax record: −$348 /mo · $4,176/yr
• Insurance: −$95
• HOA: −$679
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $148

Break-even live

Break-even rent $2,930

Max offer price $227,500

Occupancy floor 90%

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: $56,875
• Closing costs: $6,825
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12020 Champions Green Way #112 Fort Myers, FL	2.0	2.0	1056	$2,000	$1.89	11d	1	0.13mi
12030 Champions Green Way #212 Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	0.17mi
11343 Tiverton Trce Fort Myers, FL	2.0	2.0	1685	$4,000	$2.37	3d	1	0.60mi
11701 Avingston Ter Fort Myers, FL	2.0	2.0	1553	$5,500	$3.54	14d	1	0.80mi
10529 Casella Way #102 Fort Myers, FL	3.0	2.0	1722	$4,500	$2.61	23d	1	0.82mi
12141 Summergate Cir #102 Fort Myers, FL	2.0	2.0	978	$1,800	$1.84	11d	1	0.83mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	23d	1	0.83mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	23d	1	0.84mi
12131 Summergate Cir #203 Fort Myers, FL	2.0	2.0	978	$3,500	$3.58	23d	1	0.84mi
10520 Casella Way #101 Fort Myers, FL	3.0	2.0	1722	$7,000	$4.07	23d	1	0.87mi
12171 Summergate Cir #102 Fort Myers, FL	2.0	2.0	978	$1,500	$1.53	23d	1	0.88mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	0.90mi
12061 Summergate Cir #204 Fort Myers, FL	2.0	2.0	956	$3,000	$3.14	23d	1	0.90mi
12090 Summergate Cir #101 Fort Myers, FL	3.0	2.0	1231	$1,825	$1.48	23d	1	0.91mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	23d	1	0.99mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	1.02mi
11490 Villa Grand #209 Fort Myers, FL	2.0	2.0	1107	$1,500	$1.36	3d	1	1.03mi
12096 Ledgewood Cir Fort Myers, FL	3.0	2.0	1798	$2,850	$1.59	23d	1	1.04mi
11500 Villa Grand #316 Fort Myers, FL	2.0	2.0	1107	$1,650	$1.49	23d	1	1.05mi
11500 Villa Grand #306 Fort Myers, FL	2.0	2.0	1107	$1,900	$1.72	23d	1	1.05mi
11900 Grosseto Ct Fort Myers, FL	2.0	2.0	1713	$5,500	$3.21	23d	1	1.07mi
11900 Grosseto Ct Fort Myers, FL	2.0	2.0	1713	$6,000	$3.50	19d	1	1.07mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	1.07mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	1.07mi
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	23d	1	1.12mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	1.12mi
11530 Villa Grand Fort Myers, FL	3.0	2.0	1336	$1,750	$1.31	3d	1	1.13mi
11530 Villa Grand #1109 Fort Myers, FL	2.0	2.0	1107	$1,500	$1.36	23d	1	1.13mi
11571 Villa Grand #617 Fort Myers, FL	3.0	2.0	1336	$2,200	$1.65	16d	1	1.17mi
11170 Lakeland Cir Fort Myers, FL	3.0	2.0	1571	$1,975	$1.26	14d	1	1.17mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	3d	1	1.18mi
11561 Villa Grand #717 Fort Myers, FL	2.0	2.0	1107	$1,550	$1.40	16d	1	1.19mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	1.20mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	14d	1	1.22mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	23d	1	1.22mi
10730 Cetrella Dr Fort Myers, FL	3.0	2.0	1558	$6,900	$4.43	23d	1	1.27mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	23d	1	1.32mi
12300 Professional Park Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1058	$2,345	$2.22	23d	25	1.32mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	23d	1	1.36mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	23d	1	1.37mi

HOA detail condo

• Monthly dues: $679 · $8,148/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $227,500 Active 13 DOM
2. 2026-06-17
   days on market $227,500 Active 12 DOM
3. 2026-06-16
   days on market $227,500 Active 11 DOM
4. 2026-06-15
   days on market $227,500 Active 10 DOM
5. 2026-06-13
   days on market $227,500 Active 8 DOM
6. 2026-06-10
   days on market $227,500 Active 5 DOM
7. 2026-06-09
   days on market $227,500 Active 4 DOM
8. 2026-06-08
   days on market $227,500 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $227,500 Active 2 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: $4,176 · $348/mo
• Projected year-2 tax: $4,176 · $348/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 3/10 Moderate
• 🌡 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: $37,417
• − Mortgage interest: −$12,744
• − Property taxes: −$4,176
• − Insurance: −$1,138
• − Repairs & maintenance: −$2,993
• − Management: −$2,993
• − HOA: −$8,148
• − Depreciation: −$6,618
• Taxable loss: −$1,393
• Est. tax savings @ 24.0%: +$334
• After-tax cash flow: $2,116/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 — Gateway

• Score: 69/100
• State rank: #477
• US rank: #8703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gateway, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,538
• Household income: $110,373
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 276.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 11% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -25.45%
• Current HPI: 221.7115
• Rent YoY: ▲ 0.37%
• 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

-34.6% since first listed

6 events — show timeline

• 2026-05-29 Listed $227,500 FORTMLS
• 2024-07-31 Listing Removed — FORTMLS
• 2024-04-23 Price Changed $329,999 FORTMLS
• 2024-04-02 Price Changed $338,999 FORTMLS
• 2024-03-02 Price Changed $344,900 FORTMLS
• 2024-01-31 Listed $347,900 FORTMLS

Property tax history

+5.0%/yr

Latest (2025): $4,176 · -1.1% YoY. Source: county tax records.