2215 SW 51st St · Cape Coral, FL 33914

$520,000

4 bd · 2.0 ba · 2,315 sqft · SingleFamily public records · 184 Days on market

Built 2001 10,497 sqft lot Est $875k · 41% 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.4/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae Homepath property with special financing available. Beautiful SW Cape home located in a sought after neighborhood South of Cape Coral Parkway. Sitting on a sweeping corner lot with lush landscaping. Featuring a stamped concrete driveway, double door entrance and a tile roof. Great floor plan with views straight through to the pool from the front entry. A large kitchen is open to the family room and features lots of cabinets. Eat in kitchen area has sliding doors to the pool area which provides a great flow for entertaining. There are also sliders to the pool from the master, and living room. There is a large under truss lanai for outdoor enjoyment. Nice sized bedrooms and lots of storage space. This home is freshly painted and has new carpeting.

Key facts

• Paver pool deck
• Under-truss lanai
• New tile roof

Tags

• DOUBLE-DOOR ENTRY
• NEW TILE ROOF
• UPGRADED CABINETRY
• SLIDING GLASS DOORS
• PAVER POOL DECK
• UNDER-TRUSS LANAI

Property features AI

Finance

• Other: Zoning: R1-D; Corner, regular lot; Lot area approximately 0.241 acres; Property measured by Property Appraiser Office
• HOA & community: No HOA maintenance or community amenities; Non-gated community

Exterior

• Parking: Attached 2-car garage
• Utilities: Central water; Central sewer; Cable available
• Home design: Single-family residence; 1 story (ranch); Rear of property faces north; Residential property in Cape Coral
• Construction: Concrete block construction; Stucco exterior finish; Tile roof; Built in 2001
• Exterior features: Patio; Landscaped area view; Central irrigation; Below-ground concrete pool with solar heating

Interior

• Kitchen: Refrigerator/freezer
• Bedrooms: 4 bedrooms
• Flooring: Concrete flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Breakfast bar and family dining area; Split-bedroom floor plan; Family room; Laundry in residence; Auto garage door; Refrigerator/freezer included; Unfurnished
• Laundry & utility: Washer included; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $520k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $520k).
• Recommended offer: $458k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: 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 falling (-4.4%/yr); 1208 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $5,427/mo this rent would consume 78% of the median local household income ($84k/yr) (locally 835% 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 $4k of loan paydown is wiped out by about $16k 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 184 days — a 12% lower offer ($458k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $40k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $275k; list at $520k implies a 89% gain — meaningful room to come down on a strong offer.

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 $457,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $875,070
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5305 23rd Ave	0.29mi	4/2.0	2,217 (-4%)	2mo	$985,000	$444	78
2509 SW 52nd Ln	0.39mi	3/3.0 (-1)	2,333 (+1%)	1mo	$530,000	$227	70
5003 SW 26th Ave	0.38mi	3/2.0 (-1)	2,209 (-5%)	2mo	$674,000	$305	68
5240 SW 20th Ave	0.43mi	3/2.0 (-1)	2,375 (+3%)	4mo	$985,000	$415	68
5312 SW 25th Pl	0.48mi	4/3.0	2,265 (-2%)	4mo	$800,000	$353	67
4627 SW 24th Pl	0.57mi	3/2.0 (-1)	2,197 (-5%)	2mo	$630,000	$287	58
5206 Sands Blvd	0.70mi	3/2.0 (-1)	2,185 (-6%)	1mo	$825,000	$378	52
4705 SW 23rd Ave	0.52mi	3/2.5 (-1)	2,501 (+8%)	4mo	$864,000	$345	52
1929 SW 54th Ln	0.59mi	3/2.0 (-1)	2,079 (-10%)	1mo	$480,000	$231	50
2628 SW 53rd Ln	0.63mi	4/3.0	2,090 (-10%)	3mo	$870,000	$416	48
5328 SW 24th Pl	0.43mi	3/2.0 (-1)	1,984 (-14%)	4mo	$867,000	$437	48
5513 Merlyn Ln	0.74mi	3/3.0 (-1)	2,532 (+9%)	2mo	$1,050,000	$415	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.53×
• Total profit: $-68,921
• Equity at exit: $77,534

10-year hold

• IRR: -10.7%
• Equity multiple: 0.45×
• Total profit: $-80,669
• Equity at exit: $44,960

Cash invested: $145,600 (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 33914

• Home prices YoY: -30.0%
• Rents YoY: -4.4%
• Active inventory: 1208
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $5,427 high
• Mortgage (P&I): −$2,727
• Tax from tax record: −$430 /mo · $5,161/yr
• Insurance: −$217
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,140
• Net cashflow: $487

Break-even live

Break-even rent $4,810

Max offer price $520,000

Occupancy floor 86%

Sensitivity live

Price	-10% $782	-5% $634	+0% $487	+5% $340	+10% $193
Rent	-10% $59	-5% $273	+0% $487	+5% $702	+10% $916
Rate	-1.0pp $749	-0.5pp $620	base $487	+0.5pp $353	+1.0pp $215

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: $130,000
• Closing costs: $15,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2310 SW 53rd St Cape Coral, FL	3.0	2.0	2466	$4,500	$1.82	25d	1	0.31mi
4810 SW 25th Pl Cape Coral, FL	4.0	2.0	2195	$6,925	$3.15	25d	1	0.45mi
5007 SW 27th Ave Cape Coral, FL	4.0	2.0	2223	$7,650	$3.44	25d	1	0.51mi
5310 Sands Blvd Cape Coral, FL	3.0	2.0	1814	$8,000	$4.41	17d	1	0.75mi
5310 Sands Blvd Cape Coral, FL	3.0	2.0	1814	$8,000	$4.41	25d	1	0.75mi
2822 SW 49th Ter Cape Coral, FL	3.0	3.0	2478	$3,500	$1.41	4d	1	0.78mi
4701 Sands Blvd Cape Coral, FL	4.0	2.0	2253	$9,000	$3.99	25d	1	0.82mi
4628 SW 18th Ave Cape Coral, FL	3.0	2.0	1963	$2,000	$1.02	17d	1	0.82mi
4412 SW 26th Ave Cape Coral, FL	3.0	3.0	2274	$3,950	$1.74	25d	1	0.88mi
2317 SW 43rd Ln Cape Coral, FL	4.0	2.0	2311	$8,000	$3.46	25d	1	0.93mi
5702 Cape Harbour Dr #204 Cape Coral, FL	3.0	2.0	2054	$6,885	$3.35	22d	1	1.09mi
5865 Shell Cove Dr #105 Cape Coral, FL	3.0	2.5	1590	$5,000	$3.14	25d	1	1.10mi
5781 Cape Harbour Dr #1102 Cape Coral, FL	3.0	2.0	1737	$7,200	$4.15	25d	1	1.14mi
5816 Shell Cove Dr Cape Coral, FL	3.0	3.5	2199	$4,000	$1.82	25d	1	1.14mi
1221 SW 49th St Cape Coral, FL	4.0	2.0	2296	$3,200	$1.39	22d	1	1.30mi
2817 SW 42nd Ln Cape Coral, FL	4.0	3.0	2689	$7,468	$2.78	25d	1	1.31mi
2026 SW 40th Ter Cape Coral, FL	3.0	2.0	2282	$3,100	$1.36	25d	1	1.38mi
4131 SW 17th Pl Cape Coral, FL	3.0	2.0	2007	$3,975	$1.98	25d	1	1.38mi
5029 SW 11th Pl Cape Coral, FL	3.0	2.0	1720	$2,950	$1.72	4d	1	1.45mi
2307 SW 40th St Cape Coral, FL	3.0	2.0	1890	$7,195	$3.81	25d	1	1.45mi
4116 SW 16th Pl Cape Coral, FL	5.0	3.0	2193	$2,731	$1.25	4d	1	1.48mi

Listing history 14 events

1. 2026-06-13
   status $520,000 Pending 184 DOM
2. 2026-05-15
   status Pending With Contingencies
3. 2026-05-13
   status Active
4. 2026-03-10
   price $520,000
5. 2026-02-16
   price $525,000
6. 2025-11-23
   price $524,900
7. 2025-11-11
   listed $559,900 Active
8. 2014-06-30
   price $281,100 776-char remark

   Show marketing remark (776 chars)

   This is a Fannie Mae Homepath property with special financing available. Beautiful SW Cape home located in a sought after neighborhood South of Cape Coral Parkway. Sitting on a sweeping corner lot with lush landscaping. Featuring a stamped concrete driveway, double door entrance and a tile roof. Great floor plan with views straight through to the pool from the front entry. A large kitchen is open to the family room and features lots of cabinets. Eat in kitchen area has sliding doors to the pool area which provides a great flow for entertaining. There are also sliders to the pool from the master, and living room. There is a large under truss lanai for outdoor enjoyment. Nice sized bedrooms and lots of storage space. This home is freshly painted and has new carpeting.

9. 2014-06-30
   soldstatus $275,000 776-char remark

   Show marketing remark (776 chars)

   This is a Fannie Mae Homepath property with special financing available. Beautiful SW Cape home located in a sought after neighborhood South of Cape Coral Parkway. Sitting on a sweeping corner lot with lush landscaping. Featuring a stamped concrete driveway, double door entrance and a tile roof. Great floor plan with views straight through to the pool from the front entry. A large kitchen is open to the family room and features lots of cabinets. Eat in kitchen area has sliding doors to the pool area which provides a great flow for entertaining. There are also sliders to the pool from the master, and living room. There is a large under truss lanai for outdoor enjoyment. Nice sized bedrooms and lots of storage space. This home is freshly painted and has new carpeting.

10. 2014-05-12
    listed $275,000 776-char remark

    Show marketing remark (776 chars)

    This is a Fannie Mae Homepath property with special financing available. Beautiful SW Cape home located in a sought after neighborhood South of Cape Coral Parkway. Sitting on a sweeping corner lot with lush landscaping. Featuring a stamped concrete driveway, double door entrance and a tile roof. Great floor plan with views straight through to the pool from the front entry. A large kitchen is open to the family room and features lots of cabinets. Eat in kitchen area has sliding doors to the pool area which provides a great flow for entertaining. There are also sliders to the pool from the master, and living room. There is a large under truss lanai for outdoor enjoyment. Nice sized bedrooms and lots of storage space. This home is freshly painted and has new carpeting.

11. 2006-12-27
    soldstatus $350,000
12. 2006-12-21
    soldstatus $350,000 950-char remark

    Show marketing remark (950 chars)

    Location is key! This great SW Cape home boasts 4 bedrooms, 2 baths and over 2300 sq. ft. of exquisitely decorated living space! The master suite opens onto a fantastic lanai. The master bath has a great garden tub to soak away those long days, a separate walk-in shower, and his & her dual vanities. The formal living and dining rooms offer intimate areas for entertaining or simple relaxation. The large kitchen is a cooks dream with tremendous cabinet and counter space. This spacious kitchen overlooks the ample family room. .. and both the kitchen and family room have custom plantation shutters! The 3 other bedrooms are split away from the master to ensure everyone has their privacy. The lovely in-ground pool is surrounded by pavers and is tastefully done! The professional landscaping is second to none. .. with mature palms swaying in the beautiful Florida breeze. Call today to see this great home. .. you won't be disappointed!

13. 2006-12-05
    price $374,800 950-char remark

    Show marketing remark (950 chars)

    Location is key! This great SW Cape home boasts 4 bedrooms, 2 baths and over 2300 sq. ft. of exquisitely decorated living space! The master suite opens onto a fantastic lanai. The master bath has a great garden tub to soak away those long days, a separate walk-in shower, and his & her dual vanities. The formal living and dining rooms offer intimate areas for entertaining or simple relaxation. The large kitchen is a cooks dream with tremendous cabinet and counter space. This spacious kitchen overlooks the ample family room. .. and both the kitchen and family room have custom plantation shutters! The 3 other bedrooms are split away from the master to ensure everyone has their privacy. The lovely in-ground pool is surrounded by pavers and is tastefully done! The professional landscaping is second to none. .. with mature palms swaying in the beautiful Florida breeze. Call today to see this great home. .. you won't be disappointed!

14. 2000-03-15
    listed $12,500

ⓘ 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: $5,161 · $430/mo
• Projected year-2 tax: $5,161 · $430/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 1/10 Low
• 🌡 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: $65,127
• − Mortgage interest: −$29,128
• − Property taxes: −$5,161
• − Insurance: −$7,718
• − Repairs & maintenance: −$5,210
• − Management: −$5,210
• − Depreciation: −$15,127
• Taxable loss: −$2,428
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $6,430/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F 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: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 45,540
• Household income: $83,503
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 835.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 20% Two or more races 13% Black 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Cuban 8%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 80% English-only · Spanish 16% German/W. Germanic 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: ▼ -122.73%
• Current HPI: 286.3064
• Rent YoY: ▼ -4.42%
• 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

+4060.0% since first listed

13 events — show timeline

• 2026-05-15 Pending — BEARMLS
• 2026-05-13 Relisted — BEARMLS
• 2026-03-10 Price Changed $520,000 BEARMLS
• 2026-02-16 Price Changed $525,000 BEARMLS
• 2025-11-23 Price Changed $524,900 BEARMLS
• 2025-11-11 Listed $559,900 BEARMLS
• 2014-06-30 Sold (MLS) $275,000 FORTMLS
• 2014-06-30 Price Changed $281,100 FORTMLS
• 2014-05-12 Listed $275,000 FORTMLS
• 2006-12-27 Sold (Public Records) $350,000 Public Records
• 2006-12-21 Sold (MLS) $350,000 FORTMLS
• 2006-12-05 Price Changed $374,800 FORTMLS
• 2000-03-15 Listed $12,500 FORTMLS

Property tax history

-0.9%/yr

Latest (2025): $5,161 · +5.4% YoY. Source: county tax records.