3702 Coquina Dr · Sanibel, FL 33957

$1,050,000

2 bd · 2.0 ba · 1,292 sqft · SingleFamily public records · 89 Days on market

Built 1967 0.38 ac lot Est $741k · 42% over · waterfront $4/mo HOA

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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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +6.4/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

PHENOMENAL PRESERVE AND LAKE VIEWS! This amazing property sits at the end of a cul-de-sac bordered by over 300 acres of conservation land. The incredible beauty of Sanibel surrounds this home with western sunset views over the lake and preserve beyond, visiting wildlife and nothing but natural surroundings as far as you can see to the north. This is a perfect location to enjoy the spectacular night sky with clear broad views over undeveloped land. The home was originally built in 1967 but is essentially brand new: a fabulous mid-century style with 2024 finishes and conveniences. New roof, windows, doors, stucco, electrical, plumbing, ductwork, AC, drywall, flooring, bathrooms, kitchen, fans

Key facts

• Lake views
• Conservation land
• Cul-de-sac

Tags

• LAKE VIEWS
• CUL-DE-SAC
• CONSERVATION LAND
• WESTERN SUNSET VIEWS
• NATURAL SURROUNDINGS
• SPECTACULAR NIGHT SKY

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association provides beach access and beach rights; Annual association fee around $50; Community of 71 units; Non-gated community

Exterior

• Parking: Attached garage with 2 spaces; Driveway parking; Garage door opener; Unpaved areas
• Security: Smoke detector(s); Security/high impact doors
• Utilities: Public water; Public sewer; Cable available
• Home design: Two-story home; Entry level: 2; Faces east; Resale property
• Construction: Built-Up and flat roof; Stucco and wood frame construction; Raised foundation with pillar/post/pier
• Exterior features: Security/high impact doors; Open porch; Porch; Smoke detectors; Private heated in-ground pool with electric heat and pool equipment; Pond on lot; Is waterfront (lake); West exposure

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Wine cooler
• Bedrooms: Guest quarters; Great room
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Impact glass windows; Breakfast bar; Kitchen island; Living/dining room combination; Dual sinks; Separate shower (shower only); Unfurnished
• Laundry & utility: Washer; Dryer; Inside laundry; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.05M).
• Recommended offer: $987k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.8% in Sanibel — 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 67/100 on livability (#541 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: housing D+, amenities F, 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.
• Zoned schools: The Sanibel School (math 92% / reading 92%, grade A+, #5 of 2,144 statewide, top 0%, 289 students, 12% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 31% FRL vs 57% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 526 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k 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 89 days — a 6% lower offer ($987k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $750k; 40% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $987,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.14% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.11%
• DSCR: 1.54
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $741,285
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
575 Hideaway Ct	0.56mi	3/2.5 (+1)	1,430 (+11%)	13mo	$607,500	$425	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-8,296
• Equity at exit: $156,558

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $201,144
• Equity at exit: $90,785

Cash invested: $294,000 (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 33957

• Home prices YoY: -15.7%
• Active inventory: 526
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $12,000 medium
• Mortgage (P&I): −$5,506
• Tax from tax record: −$564 /mo · $6,771/yr
• Insurance: −$438
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$4
• Vacancy / Maint / Mgmt: −$2,520
• Net cashflow: $2,541

Break-even live

Break-even rent $8,783

Max offer price $1,050,000

Occupancy floor 74%

Sensitivity live

Price	-10% $3,136	-5% $2,839	+0% $2,541	+5% $2,244	+10% $1,947
Rent	-10% $1,593	-5% $2,067	+0% $2,541	+5% $3,015	+10% $3,489
Rate	-1.0pp $3,070	-0.5pp $2,808	base $2,541	+0.5pp $2,269	+1.0pp $1,993

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Durion Ct Sanibel, FL	3.0	2.5	1306	$12,000	$9.19	25d	1	0.38mi

HOA detail

• Monthly dues: $4 · $48/yr
• Likely covers: electric

Listing history 25 events

1. 2026-06-22
   days on market $1,050,000 Active 89 DOM
2. 2026-06-17
   days on market $1,050,000 Active 85 DOM
3. 2026-06-16
   days on market $1,050,000 Active 84 DOM
4. 2026-06-15
   days on market $1,050,000 Active 83 DOM
5. 2026-06-13
   days on market $1,050,000 Active 81 DOM
6. 2026-06-10
   days on market $1,050,000 Active 78 DOM
7. 2026-06-09
   days on market $1,050,000 Active 77 DOM
8. 2026-06-07
   days on market $1,050,000 Active 75 DOM
9. 2026-06-03
   days on market $1,050,000 Active 71 DOM
10. 2026-06-02
    days on market $1,050,000 Active 70 DOM
11. 2026-06-01
    days on market $1,050,000 Active 69 DOM
12. 2026-06-01
    days on market $1,050,000 Active 68 DOM
13. 2026-05-14
    status Pending
14. 2026-03-09
    listed $1,050,000 Active
15. 2025-09-30
    historical
16. 2025-06-04
    price $1,175,000
17. 2025-03-26
    listed $1,295,000 Active
18. 2024-03-25
    soldstatus $750,000
19. 2024-01-10
    historical
20. 2023-10-30
    listed $850,000 Active
21. 2022-02-07
    soldstatus $850,000
22. 2022-01-31
    soldstatus $850,000 Closed
23. 2021-12-20
    status Pending
24. 2021-12-13
    listed $899,000 Active
25. 1997-04-28
    soldstatus $170,000

ⓘ 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: $6,771 · $564/mo
• Projected year-2 tax: $8,715 · $726/mo
• Expected delta: +$1,944/yr (+$162/mo · 28.7%)

ⓘ 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 ≥112°F today · 26 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: $144,000
• − Mortgage interest: −$58,816
• − Property taxes: −$6,771
• − Insurance: −$10,368
• − Repairs & maintenance: −$11,520
• − Management: −$11,520
• − HOA: −$48
• − Depreciation: −$30,545
• Taxable income: $14,411
• Est. tax owed @ 24.0%: −$3,459
• After-tax cash flow: $27,038/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 — Sanibel

• Score: 67/100
• State rank: #541
• US rank: #10166

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing D+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanibel, FL
• City population: 6,402
• Population (ZIP): 6,402

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Italian 4% Romanian 4% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% French/Haitian/Cajun 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: ▼ -93.08%
• Current HPI: 501.0
• Rent YoY: —
• Metro: —
• 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

+517.6% since first listed

13 events — show timeline

• 2026-05-14 Pending — FORTMLS
• 2026-03-09 Listed $1,050,000 FORTMLS
• 2025-09-30 Listing Removed — FORTMLS
• 2025-06-04 Price Changed $1,175,000 FORTMLS
• 2025-03-26 Listed $1,295,000 FORTMLS
• 2024-03-25 Sold (Public Records) $750,000 Public Records
• 2024-01-10 Listing Removed — FORTMLS
• 2023-10-30 Listed $850,000 FORTMLS
• 2022-02-07 Sold (Public Records) $850,000 Public Records
• 2022-01-31 Sold (MLS) $850,000 FORTMLS
• 2021-12-20 Pending — FORTMLS
• 2021-12-13 Listed $899,000 FORTMLS
• 1997-04-28 Sold (Public Records) $170,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $6,771 · -32.1% YoY. Source: county tax records.