3608 Rita Ln · St. James City, FL 33956

$559,900

2 bd · 2.0 ba · 1,194 sqft · SingleFamily public records · 6 Days on market

Built 1974 7,840 sqft lot Est $470k · 19% over

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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 +18.1/30.0
• DSCR +5.7/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED!! SWEET HOUSE. .. .. Remodeled Gulf Access home with a very quick boat ride to the amazing beaches of Sanibel, Captiva and the out islands. Custom kitchen, high end appliances including side by side 19cu foot refrigerator AND a 19cu foot freezer! There is an enclosed Florida room AND a new screened lanai. Perfect set-up for a pool! Professionally landscaped yards and a fenced area for your dog. There is a very large wrap-around dock with a 10,000lb boat lift. This home has been very nicely updated- just move right in!! Please make an appointment today to view this really nice comfortable home!

Key facts

• Direct gulf access
• One-car garage
• Large boat lift

Tags

• DIRECT GULF ACCESS
• PERMITTED BOATHOUSE
• LARGE BOAT LIFT
• WALK-AROUND TREX DOCK
• ROOM FOR POOL
• ONE-CAR GARAGE

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Community offers boat facilities; No association fee

Exterior

• Parking: Attached garage (1 covered space); Driveway; Paved parking; RV access/parking; Two parking spaces total
• Security: Smoke detectors
• Utilities: Public water; Septic tank; Cable available; High-speed internet available
• Home design: Single-story home; Entry on level 1; Faces south; Resale property; Has view
• Construction: Built with block, concrete and stucco; Metal roof
• Exterior features: Courtyard; Open patio and porch; Patio; Porch; Room for pool; Storage; Outbuilding; Seawall; Canal access (navigable water); North exposure; Rectangular lot; Public maintained road

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator with ice maker; Icemaker
• Bedrooms: Bedroom on main level; Great room
• Flooring: Terrazzo; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Breakfast bar; Family/dining room combination; Kitchen island; Living/dining room; Window treatments; Shutters; Single-hung windows; Furnished
• Laundry & utility: Washer; Dryer; Laundry tub; Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $560k.

Deal economics

• At list price, monthly cash flow is $63 ($757/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $509k (9.0% below list).
• Recommended offer: $509k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.9% in St. James City — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 287 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $4k of loan paydown is wiped out by about $17k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $370k; list at $560k implies a 51% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $509,317 (9.0% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.91% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $470,436
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3947 Coconut Dr	0.58mi	2/2.0	1,167 (-2%)	5mo	$634,000	$543	65
2472 York Rd	0.35mi	2/1.5	1,104 (-8%)	12mo	$395,000	$358	59
2411 Oleander St	0.26mi	2/1.0	1,117 (-6%)	22mo	$475,000	$425	55
3177 Vacation Ln	0.40mi	2/3.0	1,344 (+13%)	13mo	$1,040,000	$774	46
2288 Sycamore St	0.57mi	2/2.0	1,371 (+15%)	4mo	$540,000	$394	46
3289 8th Ave	0.66mi	2/2.0	1,049 (-12%)	15mo	$305,000	$291	36
2371 Baybreeze St	0.50mi	3/2.0 (+1)	1,327 (+11%)	23mo	$307,500	$232	34

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-86,577
• Equity at exit: $83,483

10-year hold

• IRR: -7.0%
• Equity multiple: 0.56×
• Total profit: $-69,676
• Equity at exit: $48,410

Cash invested: $156,772 (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 33956

• Home prices YoY: -16.3%
• Active inventory: 287
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $5,093 medium
• Mortgage (P&I): −$2,936
• Tax from tax record: −$365 /mo · $4,374/yr
• Insurance: −$233
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,070
• Net cashflow: $63

Break-even live

Break-even rent $5,013

Max offer price $559,900

Occupancy floor 94%

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: $139,975
• Closing costs: $16,797
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3811 Emerald Ave Saint James City, FL	3.0	2.5	1500	$5,500	$3.67	23d	1	0.24mi
3864 Royal Palm Dr Saint James City, FL	2.0	1.0	960	$1,650	$1.72	23d	1	0.62mi
2744 Sanderling Ct Saint James City, FL	2.0	1.0	841	$5,300	$6.30	23d	1	0.73mi
2951 York Rd Saint James City, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.79mi
3103 Harpoon Ln Saint James City, FL	2.0	2.0	1094	$3,000	$2.74	23d	1	0.98mi

Listing history 6 events

1. 2026-06-18
   days on market $559,900 Active 6 DOM
2. 2026-06-17
   days on market $559,900 Active 5 DOM
3. 2026-06-16
   days on market $559,900 Active 4 DOM
4. 2026-06-15
   days on market $559,900 Active 3 DOM
5. 2026-06-13
   remarks 687-char remark
6. 2026-06-13
   listed $559,900 Active 1 DOM

ⓘ 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: $4,374 · $365/mo
• Projected year-2 tax: $4,647 · $387/mo
• Expected delta: +$273/yr (+$23/mo · 6.2%)

ⓘ 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 · 28 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,118
• − Mortgage interest: −$31,363
• − Property taxes: −$4,374
• − Insurance: −$7,918
• − Repairs & maintenance: −$4,889
• − Management: −$4,889
• − Depreciation: −$16,288
• Taxable loss: −$8,604
• Est. tax savings @ 24.0%: +$2,065
• After-tax cash flow: $2,822/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 — St. James City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. James City, FL
• Population (ZIP): 3,846

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Pacific Islander 2% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Slovak 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% German/W. Germanic 2% 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: ▼ -58.47%
• Current HPI: 300.1416
• 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

+94.4% since first listed

12 events — show timeline

• 2026-06-05 Listed $559,900 FORTMLS
• 2020-03-30 Sold (Public Records) $370,000 Public Records
• 2020-03-27 Sold (MLS) $370,000 FORTMLS
• 2020-02-12 Pending — FORTMLS
• 2020-01-29 Relisted — FORTMLS
• 2020-01-15 Pending — FORTMLS
• 2020-01-06 Price Changed $399,900 FORTMLS
• 2019-10-21 Price Changed $425,000 FORTMLS
• 2019-06-25 Listed $439,000 FORTMLS
• 2010-03-13 Sold (MLS) $278,000 FORTMLS
• 2010-03-12 Sold (Public Records) $278,000 Public Records
• 2010-02-25 Price Changed $288,000 FORTMLS

Property tax history

+3.6%/yr

Latest (2025): $4,374 · +4.0% YoY. Source: county tax records.