10520 Amiata Way #205 · Fort Myers, FL 33913

$275,000

2 bd · 2.0 ba · 1,245 sqft · Condo public records · 57 Days on market

Built 2005 $883/mo HOA · 20% of rent

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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 +23.9/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• 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

Come live your dream lifestyle in the Florida sun at this 55+ community of Siena in Pelican Preserve, where every day will feels like a vacation!. Bring your toothbrush and bathing suit and move right in to this turnkey Santa Cruz model turnkey 2 bedroom condo. 2nd floor unit with common elevator access. Investors this is your prime location for rentals. Scenic nature preserve views. Enjoy that perfect Florida sunshine and breeze with sliders leading to lanai from the living room and separate sliders from kitchen. Maybe have a private town center concerts from your own screened lanai. Walking trail through nature preserve to town center in your backyard. Your corner lanai boosts breathtakin

Key facts

• Turnkey condo
• Corner lanai
• $883 HOA

Tags

• TURNKEY CONDO
• COMMON ELEVATOR ACCESS
• SCENIC NATURE PRESERVE VIEWS
• CORNER LANAI
• PRIVATE OUTSIDE STORAGE AREA
• CLUBHOUSE WITH MEMBERSHIP

Property features AI

Finance

• Financial info: Pets allowed conditionally (call), maximum 2 pets
• HOA & community: Homeowners association (quarterly fees); Association covers management, cable TV, golf, insurance, internet, irrigation water, legal/accounting, grounds maintenance, pest control, reserve fund, road maintenance, sewer, street lights, security, trash and water; Community amenities include clubhouse, fitness center, pool, golf course, tennis and pickleball courts, basketball, bocce, putting greens, pier, bike storage, RV/boat storage, dog park, business center, media/library/hobby rooms, billiards, private membership and beach rights; Condo-hotel community with elevator; Senior community; Approximately 2,500 units in the community

Exterior

• Parking: Assigned covered parking; Detached carport (1 space); Guest parking; Deeded space; Paved; Electric vehicle charging station(s)
• Security: Gated community with security gate and guard; Fire sprinkler system; Smoke detectors
• Utilities: Public water (assessment paid); Public sewer (assessment paid); Cable available; High speed internet available; Underground utilities
• Home design: Single-story; Tile roof; Block, concrete, and stucco construction; Entry level: 2; Property condition: resale; Faces northwest
• Construction: Built with block, concrete and stucco; Tile roof
• Exterior features: Lanai/porch with screened porch; Security/high impact doors; Sprinkler/irrigation system (automatic); Privacy wall; On-site storage; Community pool; Pond on lot; Rectangular lot on a dead-end, paved private road; Southeast exposure; Has view

Interior

• Kitchen: Cooktop; Electric cooktop; Range; Self-cleaning oven; Microwave; Dishwasher; Disposal; Refrigerator with ice maker; Freezer; Icemaker; Pantry; Breakfast bar
• Bedrooms: Split bedroom layout
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Dual sinks; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Furnished; Vaulted ceilings; Walk-in closet(s); Breakfast bar; Eat-in kitchen; Living/dining room; Pantry; Dual sinks; Separate shower (shower only); Cable TV; High speed internet; Split bedrooms; Single hung windows with impact glass
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 34 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 $4,308/mo this rent would consume 47% 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 $8k 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 57 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y 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; HOA is 20% of rent.
• 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 6→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.57% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 5.3

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: -18.5%
• Equity multiple: 0.38×
• Total profit: $-48,018
• Equity at exit: $41,003

10-year hold

• IRR: -23.8%
• Equity multiple: 0.06×
• Total profit: $-72,641
• Equity at exit: $23,777

Cash invested: $77,000 (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: 5.3×

Monthly cashflow live

• Estimated rent: $4,308 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$431 /mo · $5,177/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$883
• Vacancy / Maint / Mgmt: −$905
• Net cashflow: $106

Break-even live

Break-even rent $4,174

Max offer price $275,000

Occupancy floor 93%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10530 Amiata Way #103 Fort Myers, FL	2.0	2.0	1248	$2,200	$1.76	24d	1	0.02mi
10510 Amiata Way #302 Fort Myers, FL	2.0	2.0	1245	$4,900	$3.94	24d	1	0.08mi
10700 Ravenna Way Fort Myers, FL	2.0	2.0	1251	$3,488	$2.79	24d	2	0.31mi
10720 Ravenna Way #104 Fort Myers, FL	2.0	2.0	1251	$5,000	$4.00	24d	1	0.41mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	14d	1	0.56mi
9209 Aviano Dr Fort Myers, FL	2.0	2.0	1355	$5,600	$4.13	14d	1	0.56mi
9217 Aviano Dr Fort Myers, FL	2.0	2.0	1227	$2,500	$2.04	11d	1	0.56mi
9582 Hemingway Ln #3402 Fort Myers, FL	2.0	2.0	1382	$5,500	$3.98	24d	1	0.64mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	14d	1	0.64mi
9582 Hemingway Ln #3403 Fort Myers, FL	2.0	2.0	1385	$5,400	$3.90	24d	1	0.64mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	3d	1	0.71mi
10518 Avila Cir Fort Myers, FL	2.0	2.0	1466	$6,500	$4.43	24d	1	0.71mi
10700 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$3,500	$2.85	24d	1	0.90mi
10702 Cetrella Dr Fort Myers, FL	2.0	2.0	1347	$5,500	$4.08	24d	1	0.90mi
9639 Hemingway Ln #3505 Fort Myers, FL	2.0	2.0	1234	$4,800	$3.89	24d	1	0.91mi
10714 Cetrella Dr Fort Myers, FL	2.0	2.0	1227	$5,500	$4.48	24d	1	0.95mi
11033 Mill Creek Way #202 Fort Myers, FL	2.0	2.0	1379	$5,400	$3.92	24d	1	0.98mi
9661 Hemingway Ln #3207 Fort Myers, FL	2.0	2.0	1300	$3,900	$3.00	3d	1	1.00mi
10111 Colonial Country Club Blvd #2308 Fort Myers, FL	2.0	2.0	1309	$2,000	$1.53	12d	1	1.01mi
9667 Hemingway Ln Unit 3107 Fort Myers, FL	2.0	2.0	1209	$4,900	$4.05	24d	1	1.04mi
10800 Colonial Gateway Dr Fort Myers, FL	1.0–3.0	1.0–2.0	1028	$1,956	$1.90	2d	106	1.06mi
3100 Champion Ring Rd Fort Myers, FL	1.0–3.0	1.0–2.0	947	$1,641	$1.73	3d	19	1.17mi
10130 Colonial Country Club Blvd #707 Fort Myers, FL	2.0	2.0	1116	$4,900	$4.39	24d	1	1.19mi
10700 Palazzo Way #201 Fort Myers, FL	2.0	2.0	1390	$5,000	$3.60	21d	1	1.19mi
3419 Forum Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	1049	$1,675	$1.60	3d	17	1.22mi
11011 Mill Creek Way #1307 Fort Myers, FL	2.0	2.0	1379	$5,000	$3.63	24d	1	1.24mi
10711 Palazzo Way Fort Myers, FL	2.0	2.0	1257	$3,900	$3.10	16d	2	1.26mi
10711 Palazzo Way Unit 203 Fort Myers, FL	2.0	2.0	1257	$5,300	$4.22	21d	1	1.26mi
10751 Palazzo Way #103 Fort Myers, FL	2.0	2.0	1235	$5,000	$4.05	24d	1	1.31mi
3247 Forum Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	1071	$1,720	$1.61	2d	22	1.36mi
10791 Palazzo Way #301 Fort Myers, FL	2.0	2.0	1390	$5,300	$3.81	24d	1	1.40mi
10820 Palazzo Way #203 Fort Myers, FL	2.0	2.0	1235	$5,400	$4.37	24d	1	1.43mi
11205 Colonial Gateway Dr Fort Myers, FL	1.0–4.0	1.0–3.0	1375	$2,224	$1.62	2d	44	1.46mi
9851 6 Mile Cypress Pkwy Fort Myers, FL	3.0	1.0–2.0	1040	$2,056	$1.98	2d	42	1.50mi

HOA detail condo

• Monthly dues: $883 · $10,596/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-17
   days on market $275,000 Active 57 DOM
2. 2026-06-16
   days on market $275,000 Active 56 DOM
3. 2026-06-15
   days on market $275,000 Active 55 DOM
4. 2026-06-13
   days on market $275,000 Active 53 DOM
5. 2026-06-10
   days on market $275,000 Active 50 DOM
6. 2026-06-09
   days on market $275,000 Active 49 DOM
7. 2026-06-07
   days on market $275,000 Active 47 DOM
8. 2026-06-03
   days on market $275,000 Active 43 DOM
9. 2026-06-02
   days on market $275,000 Active 42 DOM
10. 2026-06-01
    days on market $275,000 Active 41 DOM
11. 2026-05-31
    days on market $275,000 Active 40 DOM
12. 2026-04-22
    historical $5,000
13. 2026-04-21
    listed $275,000 Active
14. 2026-01-29
    historical $5,100
15. 2026-01-28
    listed $5,100
16. 2026-01-16
    listed $5,100
17. 2026-01-16
    historical $5,300
18. 2025-07-16
    listed $5,300
19. 2025-07-15
    historical $5,300
20. 2025-06-28
    price $5,300
21. 2025-06-26
    listed $5,500
22. 2025-03-17
    historical
23. 2024-09-18
    listed $290,000 Active
24. 2024-09-04
    historical
25. 2024-04-10
    price $299,900
26. 2024-03-13
    listed $309,900 Active
27. 2023-01-31
    soldstatus $305,000 Closed
28. 2023-01-31
    soldstatus $305,000
29. 2023-01-07
    status Pending
30. 2022-12-07
    status Active
31. 2022-12-07
    price $320,000
32. 2022-11-13
    status Pending
33. 2022-11-13
    historical
34. 2022-11-11
    listed $336,000 Active
35. 2015-03-02
    price $99,900
36. 2013-02-25
    soldstatus $101,000
37. 2007-02-27
    soldstatus $200,000

ⓘ 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: $5,177 · $431/mo
• Projected year-2 tax: $5,177 · $431/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 25 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: $51,696
• − Mortgage interest: −$15,404
• − Property taxes: −$5,177
• − Insurance: −$6,494
• − Repairs & maintenance: −$4,136
• − Management: −$4,136
• − HOA: −$10,596
• − Depreciation: −$8,000
• Taxable loss: −$2,246
• Est. tax savings @ 24.0%: +$539
• After-tax cash flow: $1,807/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

-97.5% since first listed

26 events — show timeline

• 2026-04-22 Rental Removed $5,000 FGCMLS
• 2026-04-21 Listed $275,000 FORTMLS
• 2026-01-29 Rental Removed $5,100 FORTMLS
• 2026-01-28 Listed for Rent $5,100 FORTMLS
• 2026-01-16 Listed for Rent $5,100 FGCMLS
• 2026-01-16 Rental Removed $5,300 FORTMLS
• 2025-07-16 Listed for Rent $5,300 FORTMLS
• 2025-07-15 Rental Removed $5,300 FORTMLS
• 2025-06-28 Price Changed $5,300 FORTMLS
• 2025-06-26 Listed for Rent $5,500 FORTMLS
• 2025-03-17 Listing Removed — FORTMLS
• 2024-09-18 Listed $290,000 FORTMLS
• 2024-09-04 Listing Removed — FORTMLS
• 2024-04-10 Price Changed $299,900 FORTMLS
• 2024-03-13 Listed $309,900 FORTMLS
• 2023-01-31 Sold (Public Records) $305,000 Public Records
• 2023-01-31 Sold (MLS) $305,000 FORTMLS
• 2023-01-07 Pending — FORTMLS
• 2022-12-07 Relisted — FORTMLS
• 2022-12-07 Price Changed $320,000 FORTMLS
• 2022-11-13 Pending — FORTMLS
• 2022-11-13 Listing Removed — FORTMLS
• 2022-11-11 Listed $336,000 FORTMLS
• 2015-03-02 Price Changed $99,900 FORTMLS
• 2013-02-25 Sold (MLS) $101,000 FORTMLS
• 2007-02-27 Sold (Public Records) $200,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $5,177 · -7.1% YoY. Source: county tax records.