10825 Dennington Rd · Fort Myers, FL 33913

$480,000

3 bd · 2.0 ba · 1,972 sqft · SingleFamily public records · 83 Days on market

Built 2015 8,276 sqft lot Est $436k · 10% over $472/mo HOA · 9% of rent ↓ 3% since listing

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Why this score? — see what drove the D 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 +5.5/10.0
• DSCR +5.2/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• ARV discount +2.9/15.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Style, comfort, and thoughtful upgrades come together beautifully in this 3 Bedroom + Den, 2 Bathroom home with serene lake views. Crown molding and upgraded lighting throughout add a touch of sophistication, while the gorgeous Kitchen stands out with quartz countertops, a stylish tile backsplash, recessed lighting, and eye-catching pendant lights. Designed for both beauty and functionality, the Kitchen also includes lower cabinet pull-outs along with a low-profile stove and newer refrigerator and microwave, making organization and everyday cooking effortless. The Laundry Room is exceptionally well-equipped with abundant cabinetry for storage along with a convenient sink—perfect for k

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: Community size: 985 units; Community pool
• Financial info: Pets allowed (call/conditional)
• HOA & community: Homeowners association (quarterly fee); Association fee includes management, cable TV, internet, irrigation water, pest control, recreation facilities, reserve fund, road maintenance and street lights; Community amenities: clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball, bocce court, playground, park, barbecue/picnic area, sidewalks; On-site management; Gated community with street lights

Exterior

• Parking: Attached 2-car garage; Covered parking; Driveway (paved); Garage with door opener; Two parking spaces
• Security: Gated community; Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Underground utilities; Reclaimed irrigation water
• Home design: Single-story; Entry level: 1; Resale property; North-facing
• Construction: Block, metal frame, concrete and stucco construction; Tile roof
• Exterior features: Lanai; Screened porch; Porch; Sprinkler/irrigation; Room for pool; Manual shutters; Pond on lot; Rectangular lot; South exposure; Private paved road frontage; Private maintained road

Interior

• Kitchen: Dishwasher; Freezer; Icemaker; Microwave; Range; Self-cleaning oven; Disposal; Refrigerator; Refrigerator with ice maker; Pantry; Breakfast bar; Eat-in kitchen
• Bedrooms: Main level bedroom(s)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower; Bathtub
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Built-in features; Entrance foyer; High ceilings; Tray ceiling(s); Living/dining room; Eat-in kitchen; Pantry; Cable TV available; High speed internet available; Home office; Split bedrooms; Main level primary; Bedroom on main level; Dual sinks; Separate shower; Bathtub; Walk-in closet(s); French doors
• Laundry & utility: Washer; Dryer; Laundry tub; Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $480k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $480k).
• Recommended offer: $451k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.0% 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.
• 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).
• At $5,051/mo this rent would consume 55% 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 $3k of loan paydown is wiped out by about $14k 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 83 days — a 6% lower offer ($451k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $451,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.05% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $435,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12120 Corcoran Pl	0.37mi	3/2.0	1,939 (-2%)	7mo	$575,000	$297	74
11800 Meadowrun Cir	0.38mi	2/2.0 (-1)	2,104 (+7%)	2mo	$550,000	$261	64
10911 Glenhurst St	0.20mi	3/3.0	2,171 (+10%)	10mo	$409,000	$188	62
11897 Clifton Ter	0.61mi	3/2.0	1,862 (-6%)	4mo	$550,000	$295	58
11884 Bourke Pl	0.68mi	3/2.0	2,107 (+7%)	15mo	$615,000	$292	44
11548 Lakewood Preserve Pl	0.64mi	3/2.5	2,242 (+14%)	2mo	$490,000	$219	43
12051 Lakewood Preserve Pl	0.72mi	2/2.0 (-1)	1,857 (-6%)	12mo	$410,000	$221	42
11643 Riverstone Ln	0.63mi	3/2.5	2,242 (+14%)	7mo	$390,000	$174	40
11581 Riverstone Ln	0.73mi	3/2.5	2,242 (+14%)	4mo	$495,000	$221	38
11872 Bourke Pl	0.71mi	3/2.0	2,107 (+7%)	22mo	$670,000	$318	38
11520 Foxbriar Ln	0.74mi	3/2.5	2,242 (+14%)	5mo	$490,000	$219	36
11530 Foxbriar Ln	0.73mi	3/2.5	2,242 (+14%)	6mo	$445,000	$198	36

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 · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.47×
• Total profit: $-70,600
• Equity at exit: $71,570

10-year hold

• IRR: -12.3%
• Equity multiple: 0.37×
• Total profit: $-85,338
• Equity at exit: $41,502

Cash invested: $134,400 (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: 7.9×

Monthly cashflow live

• Estimated rent: $5,051 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$489 /mo · $5,864/yr
• Insurance: −$200
• HOA: −$472
• Vacancy / Maint / Mgmt: −$1,061
• Net cashflow: $313

Break-even live

Break-even rent $4,656

Max offer price $480,000

Occupancy floor 89%

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: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	14d	1	0.09mi
10908 Clarendon St Fort Myers, FL	3.0	2.0	1433	$8,000	$5.58	23d	1	0.09mi
10900 Glenhurst St Fort Myers, FL	2.0	2.0	1355	$2,200	$1.62	2d	1	0.16mi
10952 Clarendon St Fort Myers, FL	2.0	2.0	1582	$4,000	$2.53	23d	1	0.18mi
12016 Five Waters Cir Fort Myers, FL	3.0	2.0	1646	$4,500	$2.73	23d	1	0.27mi
10271 Glastonbury Cir #102 Fort Myers, FL	2.0	2.0	1550	$4,500	$2.90	23d	1	0.32mi
11619 Meadowrun Cir Fort Myers, FL	3.0	2.5	2242	$2,495	$1.11	23d	1	0.32mi
11012 Castlereagh St Fort Myers, FL	3.0	3.0	2517	$12,000	$4.77	23d	1	0.33mi
12171 Treeline Ave Fort Myers, FL	1.0–3.0	1.0–2.0	1321	$3,402	$2.58	3d	23	0.35mi
10879 Rutherford Rd Fort Myers, FL	2.0	2.0	1566	$3,500	$2.23	23d	1	0.37mi
10535 Carolina Willow Dr Fort Myers, FL	3.0	2.0	1290	$2,300	$1.78	21d	1	0.50mi
11701 Avingston Ter Fort Myers, FL	2.0	2.0	1553	$5,500	$3.54	14d	1	0.55mi
11541 Stonecreek Cir Fort Myers, FL	3.0	3.0	2147	$3,300	$1.54	23d	1	0.58mi
11617 Lakewood Preserve Pl Fort Myers, FL	3.0	2.5	2242	$3,100	$1.38	16d	1	0.59mi
11593 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1985	$2,800	$1.41	23d	1	0.59mi
11869 Lakewood Preserve Pl Fort Myers, FL	2.0	2.0	1646	$5,000	$3.04	23d	1	0.71mi
11225 Lithgow Ln Fort Myers, FL	2.0	2.0	2153	$8,000	$3.72	23d	1	0.71mi
11230 Suffield St Fort Myers, FL	2.0	2.0	1560	$8,500	$5.45	23d	1	0.80mi
12908 New Market St #201 Fort Myers, FL	3.0	2.5	2198	$3,000	$1.36	23d	1	0.85mi
10280 Crepe Jasmine Ln Unit 1546286P Fort Myers, FL	3.0	2.0	1571	$4,526	$2.88	16d	1	0.90mi
11442 Tiverton Trce Fort Myers, FL	3.0	2.0	2010	$9,500	$4.73	23d	1	1.00mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	16d	1	1.04mi
11075 Lancewood St Fort Myers, FL	3.0	2.0	1575	$2,300	$1.46	23d	1	1.04mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	23d	1	1.06mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	23d	1	1.07mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	1.09mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	1.09mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	23d	1	1.11mi
11343 Tiverton Trce Fort Myers, FL	2.0	2.0	1685	$4,000	$2.37	3d	1	1.14mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	1.15mi
13068 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$2,900	$1.82	14d	1	1.17mi
13071 Georges Cay Pl Fort Myers, FL	3.0	3.0	1600	$3,800	$2.38	23d	1	1.18mi
10121 Colonial Country Club Blvd #1802 Fort Myers, FL	2.0	2.0	1530	$4,800	$3.14	3d	1	1.18mi
10128 Colonial Country Club Blvd #602 Fort Myers, FL	2.0	2.0	1530	$4,600	$3.01	23d	1	1.22mi
13104 Georges Cay Pl Fort Myers, FL	3.0	2.5	1590	$3,100	$1.95	23d	1	1.24mi
10602 Camarelle Cir Fort Myers, FL	2.0	2.0	1690	$5,500	$3.25	23d	1	1.26mi
11012 Mill Creek Way #2205 Fort Myers, FL	2.0	2.0	1749	$5,500	$3.14	23d	1	1.27mi
10112 Colonial Country Club Blvd #209 Fort Myers, FL	2.0	2.0	1530	$5,000	$3.27	23d	1	1.27mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	11d	1	1.27mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	23d	1	1.31mi

HOA detail

• Monthly dues: $472 · $5,664/yr

Listing history 13 events

1. 2026-06-17
   days on market $480,000 Active 83 DOM
2. 2026-06-16
   days on market $480,000 Active 82 DOM
3. 2026-06-15
   days on market $480,000 Active 81 DOM
4. 2026-06-13
   pricedays on market $480,000 Active 79 DOM
5. 2026-06-10
   days on market $482,500 Active 76 DOM
6. 2026-06-09
   days on market $482,500 Active 75 DOM
7. 2026-06-07
   days on market $482,500 Active 73 DOM
8. 2026-06-03
   days on market $482,500 Active 69 DOM
9. 2026-06-02
   days on market $482,500 Active 68 DOM
10. 2026-06-01
    days on market $482,500 Active 67 DOM
11. 2026-06-01
    days on market $482,500 Active 66 DOM
12. 2026-04-23
    price $485,000
13. 2026-03-11
    listed $499,000 Active

ⓘ 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: $5,864 · $489/mo
• Projected year-2 tax: $5,864 · $489/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 · 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: $60,614
• − Mortgage interest: −$26,887
• − Property taxes: −$5,864
• − Insurance: −$2,400
• − Repairs & maintenance: −$4,849
• − Management: −$4,849
• − HOA: −$5,664
• − Depreciation: −$13,964
• Taxable loss: −$3,864
• Est. tax savings @ 24.0%: +$927
• After-tax cash flow: $4,678/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

-2.8% since first listed

2 events — show timeline

• 2026-04-23 Price Changed $485,000 FORTMLS
• 2026-03-11 Listed $499,000 FORTMLS

Property tax history

+8.4%/yr

Latest (2025): $5,864 · +2.2% YoY. Source: county tax records.