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1020/1022 NE 8th Pl Duplex
D Composite 43.02
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).

  • ARV discount +11.7/15.0
  • Cash flow +10.8/30.0
  • Schools +5.3/10.0
  • Condition / age +4.0/5.0
  • Livability +3.9/5.0
  • 1% rule +3.2/10.0
  • DSCR +3.1/10.0
  • Rent growth +1.1/5.0
  • Appreciation +0.0/10.0

$425,000

1020/1022 NE 8th Pl · Cape Coral, FL 33909
6 bd · 4.0 ba · 2,418 sqft · MultiFamily · 19 Days on market
Built 2020 Good condition 10,018 sqft lot 1-car garage $176/sqft · 9% below area Est $468k · 9% under ↓ 27% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

PERFECT FOR BOTH HOMEOWNERS AND INVESTORS ALIKE. Newer construction duplex built in 2020, featuring 3 bedrooms and 2 bathrooms on each side. Each unit offers a spacious open-concept layout, perfect for comfortable living and entertaining. TOTALLY TILED * * * The property is FULLY FENCED, providing added privacy and security. Ideally located near convenience stores, shopping centers, dining, and everyday essentials. Schedule your tour today! * * * * * * Unit 1020 has already been leased with an effective move-in date of May 23rd at a monthly rental rate of $1,600 — a great indication of the strong appeal and desirability of these units.

Key facts

  • Fully fenced
  • 0.23 acre lot
  • 2 garage spots

Tags

NEWER CONSTRUCTION DUPLEXSPACIOUS OPEN-CONCEPT LAYOUTFULLY FENCEDLAWN MAINTENANCE INCLUDED

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2 × 3-bed/2.0-bath units multifamily listed at $425k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-195 ($-2k/yr) — negative. Per door: $-97/mo.
  • To cash-flow at today's rent, offer at most $397k (6.6% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $347k (18.3% below list).
  • Recommended offer: $347k (18.3% below list) — sets the bar for 1% rule.
  • Cap rate 5.7% 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.
  • Zoned schools: Gulf Elementary School (math 70% / reading 65%, grade B+, #435 of 2,144 statewide, top 21%, 1,231 students, 38% FRL); Challenger Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,124 students, 50% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL) — zoned schools average 42% FRL vs 57% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
  • Market conditions: Rents falling (-5.6%/yr); 2351 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $13k 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 19 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
  • 6 sale attempts 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

  • Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $347,100 (18.3% below list)

Questions for the listing agent

  1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
  2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
  3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
  4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  5. 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?
  6. 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?
  7. 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.
  8. 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.
  9. 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
0.82% ✗
Cap rate
5.74%
Cash-on-cash
-1.97%
DSCR
0.91
GRM
10.2

CMA / ARV

ARV (median comp)
$468,376
List price
$425,000
Delta
-9.26%
Verdict
FAIR
Comps
8 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
636 NE 8th Ter 0.32mi 4/2.5 (-2) 1,735 (-28%) 0mo $500,000 $288 44
2010 NW 2nd Pl 1.93mi 4/3.0 (-2) 2,536 (+5%) 0mo $375,000 $148 43
469 NE 1st Pl 1.13mi 4/2.0 (-2) 2,594 (+7%) 0mo $460,000 $177 35
334 NE 10th Ter 0.60mi 4/3.0 (-2) 2,020 (-16%) 0mo $405,000 $200 33
429 NW 14th Ter 1.81mi 4/3.0 (-2) 2,135 (-12%) 0mo $399,000 $187 31
1116 NE 15th St 0.69mi 4/2.0 (-2) 1,829 (-24%) 0mo $369,990 $202 25
301 NE 10th St 0.72mi 4/2.0 (-2) 1,812 (-25%) 0mo $362,000 $200 23
8 SE 8th Pl 1.39mi 4/2.0 (-2) 1,812 (-25%) 0mo $365,850 $202 22
1821 NW 3rd Ave 1.82mi 4/2.0 (-2) 1,812 (-25%) 0mo $315,000 $174 22
405 NE 15th St 0.80mi 4/2.0 (-2) 1,828 (-24%) 0mo $369,999 $202 22
1200 NE 19th Ter 1.25mi 4/2.0 (-2) 1,829 (-24%) 0mo $368,990 $202 22
313 NE 13th Ter 0.80mi 4/2.0 (-2) 1,829 (-24%) 0mo $369,990 $202 22

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
-23.0%
Equity multiple
0.23×
Total profit
$-91,407
Equity at exit
$63,369
10-year hold
IRR
-28.0%
Equity multiple
-0.13×
Total profit
$-134,686
Equity at exit
$36,746

Cash invested: $119,000 (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 →

Active competition Active MLS

For sale now
9 active · 5 under contract
Median asking
$499,000 ($213/sqft)
Median days on market
57 d
This list price
33% of active listings are priced below it
ARV vs active asking
-8.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33909

Home prices YoY
-23.1%
Rents YoY
-5.6%
Active inventory
2351
Price-to-rent
20.4×

Monthly cashflow live

Estimated rent
$3,471 high interval (Pro) →
Mortgage (P&I)
−$2,229
Tax est. 1.5%
−$531 /mo · $6,375/yr
Insurance
−$177
HOA
−$0
Vacancy / Maint / Mgmt
−$729
Net cashflow
$-195

2-unit breakdown (identical units grouped — click to expand)

UnitsBedsBathsEst. rent
Total (2 units) $3,471

Break-even live

Break-even rent $3,718
Max offer price $396,785
Occupancy floor —

Sensitivity live

Price -10% $99 -5% $-48 +0% $-195 +5% $-342 +10% $-489
Rent -10% $-469 -5% $-332 +0% $-195 +5% $-58 +10% $79
Rate -1.0pp $19 -0.5pp $-87 base $-195 +0.5pp $-305 +1.0pp $-417

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
$106,250
Closing costs
$12,750
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1022 NE 8th Pl Cape Coral, FL 3.0 2.0 1209 $1,650 $1.36 164d 1 0.04mi
925 Andalusia Blvd Cape Coral, FL 3.0 2.0 1200 $1,510 $1.26 7d 1 0.08mi
1027 Andalusia Blvd Cape Coral, FL 3.0 2.0 1300 $1,500 $1.15 31d 1 0.08mi
1026 Andalusia Blvd Cape Coral, FL 3.0 2.0 1209 $1,395 $1.15 48d 1 0.11mi
1030 Andalusia Blvd Cape Coral, FL 3.0 2.0 1209 $1,395 $1.15 55d 1 0.12mi
1044 NE 8th Pl #1104 Cape Coral, FL 3.0 2.0 1210 $1,550 $1.28 123d 1 0.13mi
1044 NE 8th Pl Unit 1044 Cape Coral, FL 3.0 2.0 1210 $1,495 $1.24 119d 1 0.13mi
1044 NE 8th Pl Cape Coral, FL 3.0 2.0 1210 $1,550 $1.28 133d 1 0.13mi
916 Andalusia Blvd Cape Coral, FL 3.0 2.0 1426 $2,100 $1.47 2d 1 0.13mi
830 NE 9th Ter Cape Coral, FL 3.0 2.0 1430 $1,506 $1.05 22d 1 0.14mi
915 NE 10th Ln Cape Coral, FL 3.0 2.0 1409 $2,200 $1.56 10d 1 0.15mi
1005 NE 8th Ter Cape Coral, FL 2.0 2.0 1000 $1,495 $1.50 52d 1 0.28mi
1005 NE 8th Ter Cape Coral, FL 2.0 2.0 1000 $1,495 $1.50 55d 1 0.28mi
1001 NE 6th Ave Cape Coral, FL 3.0 2.0 1416 $4,410 $3.11 164d 1 0.29mi
1001 NE 6th Ave Cape Coral, FL 3.0 2.0 1416 $4,410 $3.11 10d 1 0.29mi
810 NE 8th St Cape Coral, FL 3.0 2.0 1162 $1,275 $1.10 40d 1 0.30mi
1214 NE 8th Pl Cape Coral, FL 2.0 2.0 1080 $1,495 $1.38 18d 1 0.32mi
1214 NE 8th Pl Cape Coral, FL 2.0 2.0 1080 $1,495 $1.38 10d 1 0.32mi
1216 NE 8th Pl Unit 1214 Cape Coral, FL 3.0 2.0 1080 $1,495 $1.38 10d 1 0.32mi
1216 NE 8th Pl Unit 1214 Cape Coral, FL 3.0 2.0 1080 $1,495 $1.38 17d 1 0.32mi
741 NE 7th Pl Cape Coral, FL 2.0 1.0 856 $1,495 $1.75 164d 1 0.34mi
1106 NE 11th St Cape Coral, FL 3.0 2.0 1176 $1,600 $1.36 28d 1 0.35mi
1117 NE 10th St Cape Coral, FL 3.0 2.0 1272 $1,650 $1.30 2d 1 0.38mi
1310 NE 8th Pl Cape Coral, FL 3.0 2.0 1242 $1,650 $1.33 10d 1 0.41mi
1310 NE 8th Pl Cape Coral, FL 3.0 2.0 1242 $1,650 $1.33 43d 1 0.41mi
1127 NE 10th St Cape Coral, FL 3.0 2.0 1469 $1,800 $1.23 38d 1 0.42mi
1127 NE 10th St Cape Coral, FL 3.0 2.0 1469 $1,800 $1.23 27d 1 0.42mi
1315 NE 8th Pl Unit 1315 Cape Coral, FL 3.0 2.0 1130 $1,600 $1.42 22d 1 0.42mi
1315 NE 8th Pl Cape Coral, FL 3.0 2.0 1130 $1,600 $1.42 38d 1 0.43mi
1044 NE 8th St Apt 1 Cape Coral, FL 2.0 2.0 900 $1,300 $1.44 14d 1 0.45mi
1206 NE 5th Pl Cape Coral, FL 3.0 2.0 1176 $1,480 $1.26 55d 1 0.49mi
1206 NE 5th Pl Cape Coral, FL 3.0 2.0 1176 $1,465 $1.25 10d 1 0.49mi
1213 NE 8th Ter Cape Coral, FL 2.0 1.0 870 $1,275 $1.47 7d 1 0.53mi
1221 NE 9th St Cape Coral, FL 3.0 2.0 1500 $1,900 $1.27 0d 1 0.53mi
1213 NE 8th St Cape Coral, FL 2.0 1.0 870 $1,275 $1.47 9d 1 0.55mi
1213 NE 8th St Cape Coral, FL 2.0 1.0 870 $1,295 $1.49 16d 1 0.55mi
1218 NE 8th Ter Cape Coral, FL 3.0 2.0 1150 $1,450 $1.26 164d 1 0.55mi
1415 NE 8th Pl Cape Coral, FL 3.0 2.0 1250 $1,750 $1.40 133d 1 0.56mi
913 NE 13th Ave Cape Coral, FL 3.0 2.0 1500 $2,000 $1.33 164d 1 0.57mi
1421 NE 8th Pl Cape Coral, FL 3.0 2.0 1200 $1,750 $1.46 155d 1 0.58mi

Property features AI

Finance

Other
Pets allowed
Financial info
Gross scheduled income: $38,400Operating expenses: $14,045One unit currently showing actual/pro forma rent of $1,600Tenant responsibility: electricity, pest control, sewer, telephone, waterLand lease expiration noted (2027-05-31)
HOA & community
No association fee reported

Exterior

Parking
Each unit includes an attached 1-car garage
Utilities
Cable availablePublic water (assessment unpaid)Public sewer (assessment unpaid)Irrigation available (municipal; extra cost)
Home design
Multi-family property with 2 unitsResale conditionRectangular lotLot dimensions approximately 80 x 125
Construction
Block, concrete and stucco constructionShingle roof
Exterior features
Fenced yardOpen lanai/porch for each unitAuto garage door

Interior

Kitchen
DishwasherMicrowaveRangeRefrigerator
Bedrooms
Two 3-bedroom units (each unit has 3 bedrooms)
Flooring
Tile flooring
Bathrooms
Four full bathrooms total (each unit has 2 full bathrooms)
Heating & cooling
Central heating (electric)Central air conditioning (electric)
Interior features
Double-hung windowsSmoke detectorCable availableCeiling fans
Laundry & utility
Washer/dryer hookups in each unitLaundry area in garage

Listing history 12 events

  1. 2026-05-02
    historical $1,600
  2. 2026-04-27
    listed $425,000 Active
  3. 2026-04-23
    historical $1,600
  4. 2026-04-22
    listed $1,600
  5. 2026-03-13
    listed $1,850
  6. 2026-03-13
    historical $1,850
  7. 2025-10-17
    price $1,850
  8. 2025-10-16
    listed $2,000
  9. 2025-10-16
    historical $2,200
  10. 2025-09-19
    listed $2,200
  11. 2025-09-19
    historical $2,200
  12. 2025-08-22
    listed $2,200

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
  • 🔥 Wildfire 3/10 Moderate
  • 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$41,652
− Mortgage interest
−$23,807
− Property taxes
−$6,375
− Insurance
−$2,125
− Repairs & maintenance
−$3,332
− Management
−$3,332
− Depreciation
−$12,364
Taxable loss
−$9,683
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,324
After-tax cash flow
$-16/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $12,090–$36,270 screening

This multi-family home is in good condition with a good roof, exterior, and interior. It has a good curb appeal and is move-in ready. Repainting the exterior and maintaining the landscaping and HVAC system would further increase its value.

Value-add opportunities

  • Both Paint the exterior walls and siding — Painting the exterior will improve the curb appeal and increase the home's value for both resale and rental. ↑
  • Both Trim and maintain the landscaping — Well-maintained landscaping can enhance the home's curb appeal and increase its value for both resale and rental. ↑
  • Both Inspect and maintain the HVAC system — A well-maintained HVAC system can improve the home's comfort and energy efficiency, increasing its value for both resale and rental. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Diplomat Elementary School B FL #564/2,144 Nat'l #5,891/41,679 Middle Diplomat Middle School C FL #246/571 Nat'l #3,367/14,009 High Ida S. Baker High School D- FL #223/667 Nat'l #6,744/17,239

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
B Composite livability gradescore 77/100

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 · 871,946 people
City population
217,388
Metro
Cape Coral-Fort Myers, FL
Population (ZIP)
40,231
Household income
$73,053
Rent vs Own
29.6% rent · 70.4% own
Severe rent burden
15% of renters

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 0.55)
Race & ethnicity
White 56% Hispanic / Latino 36% Two or more races 24% Black 3% Asian 1%
Hispanic origin (detail)
Puerto Rican 7% Cuban 14% Dominican 4%
Languages at home
69% English-only · Spanish 27% Other Indo-European 1% German/W. Germanic 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
—

Price history

-27.3% since first listed
13 events — show timeline
  • 2026-05-30 Listing Removed — FORTMLS
  • 2026-05-02 Rental Removed $1,600 FGCMLS
  • 2026-04-27 Listed $425,000 FORTMLS
  • 2026-04-23 Rental Removed $1,600 FORTMLS
  • 2026-04-22 Listed for Rent $1,600 FORTMLS
  • 2026-03-13 Listed for Rent $1,850 FGCMLS
  • 2026-03-13 Rental Removed $1,850 FORTMLS
  • 2025-10-17 Price Changed $1,850 FORTMLS
  • 2025-10-16 Listed for Rent $2,000 FORTMLS
  • 2025-10-16 Rental Removed $2,200 NAPLESMLS
  • 2025-09-19 Listed for Rent $2,200 NAPLESMLS
  • 2025-09-19 Rental Removed $2,200 FORTMLS
  • 2025-08-22 Listed for Rent $2,200 FORTMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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