10109 Colonial Country Club Blvd #2410 · Fort Myers, FL 33913

$235,000

2 bd · 2.0 ba · 1,331 sqft · Condo public records · 23 Days on market

Built 2003 $908/mo HOA · 20% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LAKEFRONT COTTAGE CONDO AT COLONIAL COUNTY CLUB!! Beautiful ground floor condo with lake view and unique glassed-in lanai giving it a spacious and "homey" feel! Features include open floor-plan, crown moulding, upgraded tile floors throughout with cozy carpets in the bedrooms and den, large kitchen with black stainless steel appliances, Corian countertops and all wood cabinets; spacious primary bedroom with upgraded en-suite bathroom featuring a walk-in-shower with frameless glass enclosure and dual sink vanity; large guest bedroom, upgraded guest bath with convenient tub/shower combo finished with an upgraded frameless glass enclosure, upgraded fans and light fixtures throughout,

Key facts

• Walk-in-shower
• Corian countertops
• Glassed-in lanai

Tags

• LAKE VIEW
• GLASSED-IN LANAI
• OPEN FLOOR-PLAN
• CORIAN COUNTERTOPS
• ALL WOOD CABINETS
• WALK-IN-SHOWER

Property features AI

Finance

• Other: One-unit floor (single-level unit); Complex contains many units with multiple buildings
• Financial info: Total annual recurring community fees reported
• HOA & community: Mandatory HOA; Master HOA fee billed annually; Quarterly condo fee; Professional management; Maintenance covers cable, insurance, internet/Wi-Fi, irrigation water, lawn/land maintenance, legal/accounting, manager, recreation facilities, reserves, sewer, street lights, street maintenance, trash removal, and water; Community amenities include clubhouse, community pool, exercise room, business center, restaurant, golf course (golf-bundled), putting green, bocce court, pickleball, bike and jog path, sidewalks, BBQ/picnic areas, underground utilities, and streetlights; Community type: gated, golf course community; Sub-community: Garden Lakes (Colonial Country Club development)

Exterior

• Parking: Detached carport (1 space)
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available; Reclaimed irrigation water
• Home design: Residential property; Low-rise building (1–3 stories); End unit; Rear exposure faces southeast; Built in 2003
• Construction: Concrete block construction; Stucco exterior; Tile roof; Built in 2003
• Exterior features: Private road; Automatic sprinkler system; Lake view / waterfront on a lake; Zero lot line; Paved private road; Deeded restrictions

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms plus den; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Bar; Built-in cabinets; Cable prewire; French doors; High-speed internet available; Pantry; Tray ceiling; Breakfast bar and family dining area; Den (study); Great room; Guest room; Guest bath; Laundry in residence; Furnished negotiable
• Laundry & utility: Washer and dryer in residence; Smoke detector

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.3% in 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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.
• Zoned schools: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents flat; 821 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $4,563/mo this rent would consume 50% of the median local household income ($110k/yr) (locally 276% 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 $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

• It's been on market 23 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $163k; 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,475 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.94% ✓
• Cap rate: 12.48%
• Cash-on-cash: 22.10%
• DSCR: 1.98
• GRM: 4.3

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $970
• Equity at exit: $35,039

10-year hold

• IRR: 5.6%
• Equity multiple: 1.35×
• Total profit: $22,703
• Equity at exit: $20,319

Cash invested: $65,800 (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: 821
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $4,563 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$155 /mo · $1,860/yr
• Insurance: −$98
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$908
• Vacancy / Maint / Mgmt: −$958
• Net cashflow: $785

Break-even live

Break-even rent $3,569

Max offer price $235,000

Occupancy floor 78%

Sensitivity live

Price	-10% $918	-5% $852	+0% $785	+5% $719	+10% $652
Rent	-10% $425	-5% $605	+0% $785	+5% $966	+10% $1,146
Rate	-1.0pp $904	-0.5pp $845	base $785	+0.5pp $724	+1.0pp $662

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	13d	1	0.06mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	25d	1	0.12mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	25d	1	0.13mi
10020 Horse Creek Rd Fort Myers, FL	2.0	2.0	1692	$2,500	$1.48	25d	1	0.14mi
11029 Mill Creek Way #405 Fort Myers, FL	2.0	2.0	1749	$2,500	$1.43	25d	1	0.18mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	5d	1	0.22mi
11041 Iron Horse Way Fort Myers, FL	2.0	2.0	1692	$4,000	$2.36	25d	1	0.25mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	25d	1	0.27mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	25d	1	0.28mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	17d	1	0.30mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	25d	1	0.30mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	25d	1	0.31mi
9918 Horse Creek Rd Fort Myers, FL	3.0	2.0	1510	$2,200	$1.46	25d	1	0.36mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	25d	1	0.40mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	25d	1	0.44mi
10514 Bella Vista Dr Fort Myers, FL	3.0	2.0	1823	$6,500	$3.57	25d	1	0.44mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	17d	1	0.46mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	25d	1	0.53mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	5d	1	0.53mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	25d	1	0.53mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	25d	1	0.57mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	5d	1	0.57mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	23d	1	0.59mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	25d	1	0.62mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	25d	1	0.62mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	16d	1	0.62mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	17d	2	0.63mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	23d	1	0.63mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	25d	1	0.68mi
10053 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,400	$4.37	25d	1	0.74mi
10063 Majestic Ave Fort Myers, FL	2.0	2.0	1692	$7,100	$4.20	25d	1	0.76mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	25d	1	0.80mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	23d	1	0.82mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	25d	1	0.88mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	25d	1	0.90mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	25d	1	0.92mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	25d	1	0.93mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	25d	1	0.93mi
10018 Oakhurst Way Fort Myers, FL	3.0	2.0	1512	$2,975	$1.97	25d	1	0.95mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	25d	1	0.96mi

HOA detail condo

• Monthly dues: $908 · $10,896/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-22
   days on market $235,000 Active 23 DOM
2. 2026-06-18
   days on market $235,000 Active 20 DOM
3. 2026-06-17
   days on market $235,000 Active 19 DOM
4. 2026-06-16
   days on market $235,000 Active 18 DOM
5. 2026-06-15
   days on market $235,000 Active 17 DOM
6. 2026-06-13
   days on market $235,000 Active 15 DOM
7. 2026-06-10
   days on market $235,000 Active 12 DOM
8. 2026-06-09
   days on market $235,000 Active 11 DOM
9. 2026-06-08
   days on market $235,000 Active 10 DOM
10. 2026-06-07
    days on market $235,000 Active 9 DOM
11. 2026-06-03
    days on market $235,000 Active 5 DOM
12. 2026-06-02
    days on market $235,000 Active 4 DOM
13. 2026-06-01
    days on market $235,000 Active 3 DOM
14. 2026-05-31
    days on market $235,000 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: $1,860 · $155/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$90/yr (+$8/mo · 4.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $54,761
• − Mortgage interest: −$13,164
• − Property taxes: −$1,860
• − Insurance: −$6,294
• − Repairs & maintenance: −$4,381
• − Management: −$4,381
• − HOA: −$10,896
• − Depreciation: −$6,836
• Taxable income: $6,950
• Est. tax owed @ 24.0%: −$1,668
• After-tax cash flow: $7,755/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Myers, 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

+42.4% since first listed

13 events — show timeline

• 2026-05-29 Listed $235,000 BEARMLS
• 2026-05-15 Listing Removed — FORTMLS
• 2026-05-04 Price Changed $260,000 FORTMLS
• 2026-04-02 Price Changed $278,000 FORTMLS
• 2026-03-09 Price Changed $283,000 FORTMLS
• 2026-02-20 Listed $295,000 FORTMLS
• 2025-12-15 Listed $300,000 BEARMLS
• 2018-10-05 Sold (Public Records) $163,000 Public Records
• 2018-10-01 Sold (MLS) $163,000 FORTMLS
• 2018-08-25 Pending — FORTMLS
• 2018-08-20 Relisted — FORTMLS
• 2018-07-30 Listing Removed — FORTMLS
• 2018-07-24 Listed $165,000 FORTMLS

Property tax history

-0.8%/yr

Latest (2025): $1,860 · +2.1% YoY. Source: county tax records.