1508 NW 37th Ave · Cape Coral, FL 33993

$5,000

4 bd · 2.0 ba · 2,151 sqft · SingleFamily public records · 1 Days on market

Built 2007 10,019 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

For appraisers - Home has original builder grade carpet, tile and finishes. 4 Bed home. Located in the highly desired NW Cape just south of Gulfstream Pky between Burnt Store Rd & Old Burnt Store Rd. Flexible floorplan allows for separate spaces when desired or to host large groups. Oversized Garage has very deep bay for that large pickup or other use, plus built in storage. Newer large pool (2012) with west exposure & electric heat. Home opens to large lanai with Pocket sliding doors that disappear from view and make inside and outside into one large spacious retreat! Lanai has side walls for privacy. Walk-in closets in each bedroom plus built in storage in oversized garage. AC 2017. Whole house water softener plus undersink R/O provides quality water. Septic pumped 2021. Just blocks from 2 nearby golf courses (Coral Oaks & Royal Tee), City Boat Ramp for boating access to Gulf of Mexico, several City parks existing and planned for the NW Cape, and stores & restaurants. Easy commute via newly widened Burnt Store Rd going north to I-75 or south to Ft Myers or Naples. Nearby upscale Gulf Access homes make this area one of the most attractive Cape neighborhoods

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 2007

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Other water source; Other sewer
• Home design: Single-family residence; One level; Residential property; Zoned R1-D
• Construction: See remarks for construction materials; Other roof
• Exterior features: Front porch

Interior

• Bedrooms: 1 room total
• Flooring: Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: No central heating; No cooling
• Interior features: Front porch; Other flooring

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$757,152) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• Cap rate 536.1% 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 (-5.5%/yr); 2652 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 38% of the median local income ($91k/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 $35 of loan paydown is wiped out by about $150 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 + 0.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y 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: 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 $5,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 56.76% ✓
• Cap rate: 536.13%
• Cash-on-cash: 1892.26%
• DSCR: 85.20
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $757,152
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1238 NW 36th Ave	0.28mi	3/3.0 (-1)	2,100 (-2%)	2mo	$770,000	$367	72
3605 Yucatan Pkwy	0.39mi	4/3.0	2,147 (-0%)	9mo	$610,000	$284	70
3314 NW 18 St	0.59mi	3/2.0 (-1)	2,216 (+3%)	3mo	$875,000	$395	60
1409 NW 33rd Ave	0.50mi	3/2.0 (-1)	1,975 (-8%)	3mo	$420,000	$213	56
1047 NW 33rd Ave	0.68mi	3/3.0 (-1)	2,129 (-1%)	7mo	$799,900	$376	52
3407 NW 17th Ln	0.50mi	3/2.0 (-1)	2,362 (+10%)	7mo	$740,000	$313	50
1236 NW 36th Pl	0.25mi	3/2.0 (-1)	1,912 (-11%)	22mo	$410,000	$214	47
1212 NW 32nd Pl	0.64mi	4/3.0	2,352 (+9%)	14mo	$1,050,000	$446	39
1006 NW 38th Pl	0.63mi	3/2.5 (-1)	2,310 (+7%)	17mo	$814,000	$352	37
1716 Burnt Store Rd	0.75mi	3/3.0 (-1)	1,901 (-12%)	4mo	$749,700	$394	34
3530 NW 21st St	0.73mi	3/3.0 (-1)	2,010 (-7%)	21mo	$535,000	$266	28

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: —
• Equity multiple: 75.73×
• Total profit: $104,616
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 148.33×
• Total profit: $206,263
• Equity at exit: $432

Cash invested: $1,400 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2652
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,838 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $1,781

Break-even live

Break-even rent $584

Max offer price $5,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,785	-5% $1,783	+0% $1,781	+5% $1,779	+10% $1,778
Rent	-10% $1,557	-5% $1,669	+0% $1,781	+5% $1,893	+10% $2,005
Rate	-1.0pp $1,784	-0.5pp $1,782	base $1,781	+0.5pp $1,780	+1.0pp $1,778

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1521 NW 37th Ave Cape Coral, FL	3.0	3.0	2000	$2,700	$1.35	24d	1	0.07mi
1255 NW 38th Ave Cape Coral, FL	3.0	3.0	2219	$6,500	$2.93	24d	1	0.19mi
1220 NW 36th Pl Cape Coral, FL	3.0	2.0	1468	$1,995	$1.36	14d	1	0.29mi
1049 NW 38th Pl Cape Coral, FL	3.0	2.0	2009	$4,570	$2.27	24d	1	0.43mi
1221 NW 33rd Ave Cape Coral, FL	3.0	2.0	2035	$3,995	$1.96	16d	1	0.56mi
825 NW 38th Pl Cape Coral, FL	4.0	3.0	2594	$2,699	$1.04	24d	1	0.77mi
4116 NW 20th St Cape Coral, FL	4.0	3.0	2506	$2,200	$0.88	11d	1	0.90mi
4116 NW 20th Ter Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	11d	1	0.95mi
2113 NW 41st Ave Cape Coral, FL	4.0	3.0	1904	$2,200	$1.16	3d	1	1.02mi
2127 NW 41st Pl Cape Coral, FL	4.0	2.0	1828	$1,876	$1.03	3d	1	1.10mi
1119 NW 28th Pl Cape Coral, FL	3.0	3.0	2047	$2,400	$1.17	24d	1	1.14mi
2325 NW 34th Ave Cape Coral, FL	4.0	2.0	1828	$1,796	$0.98	3d	1	1.16mi
3322 NW 5th Ter Cape Coral, FL	3.0	2.0	1666	$5,000	$3.00	24d	1	1.30mi
426 NW 37th Pl Cape Coral, FL	3.0	2.0	1739	$5,250	$3.02	24d	1	1.30mi
421 NW 36th Ave Cape Coral, FL	4.0	2.0	2230	$1,900	$0.85	2d	1	1.31mi
4113 Kismet Pkwy Cape Coral, FL	4.0	3.0	1816	$2,300	$1.27	3d	1	1.32mi
2701 NW 11th St Cape Coral, FL	3.0	2.0	1627	$3,000	$1.84	24d	1	1.37mi
1225 NW 26th Pl Cape Coral, FL	4.0	2.0	1993	$1,995	$1.00	24d	1	1.40mi
1208 NW 25th Pl Cape Coral, FL	4.0	2.0	1735	$2,200	$1.27	3d	1	1.49mi
4102 NW 26th St Cape Coral, FL	5.0	3.0	2561	$3,100	$1.21	16d	1	1.50mi

Listing history 2 events

1. 2026-06-17
   remarks 297-char remark
2. 2026-06-17
   listed $5,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,059
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$5,144
• − Repairs & maintenance: −$2,725
• − Management: −$2,725
• − Depreciation: −$145
• Taxable income: $22,965
• Est. tax owed @ 24.0%: −$5,512
• After-tax cash flow: $15,862/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): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

-95.8% since first listed

30 events — show timeline

• 2026-06-17 Listed $5,000 HAOR as distributed by MLS GRID
• 2024-12-31 Listing Removed — NAPLESMLS
• 2024-12-02 Price Changed $345,000 NAPLESMLS
• 2024-12-02 Relisted — NAPLESMLS
• 2024-11-28 Pending — NAPLESMLS
• 2024-11-02 Price Changed $355,000 NAPLESMLS
• 2024-10-16 Relisted — NAPLESMLS
• 2024-10-02 Listing Removed — NAPLESMLS
• 2024-09-19 Price Changed $365,000 NAPLESMLS
• 2024-09-09 Price Changed $370,000 NAPLESMLS
• 2024-08-12 Price Changed $379,900 NAPLESMLS
• 2024-08-09 Price Changed $389,900 NAPLESMLS
• 2024-07-17 Price Changed $395,000 NAPLESMLS
• 2024-07-02 Listed $400,000 NAPLESMLS
• 2021-05-11 Sold (Public Records) $375,000 Public Records
• 2021-05-07 Sold (MLS) $375,000 FORTMLS
• 2021-04-06 Pending — FORTMLS
• 2021-04-05 Listed $399,000 FORTMLS
• 2014-11-07 Sold (Public Records) $207,000 Public Records
• 2014-10-29 Price Changed $209,900 FORTMLS
• 2014-10-29 Sold (MLS) $207,000 FORTMLS
• 2014-08-08 Listed $207,000 FORTMLS
• 2013-09-17 Price Changed $124,900 FORTMLS
• 2011-07-22 Sold (Public Records) $125,000 Public Records
• 2011-07-20 Sold (MLS) $125,000 FORTMLS
• 2011-04-08 Sold (Public Records) $78,000 Public Records
• 2011-04-04 Sold (MLS) $78,000 FORTMLS
• 2011-03-10 Price Changed $84,900 FORTMLS
• 2006-04-25 Sold (MLS) $100,000 FORTMLS
• 2006-03-02 Price Changed $119,777 FORTMLS

Property tax history

+7.9%/yr

Latest (2025): $5,153 · -14.1% YoY. Source: county tax records.