760 Sextant Dr #622 · Sanibel, FL 33957

$949,000

2 bd · 2.0 ba · 1,240 sqft · Condo public records · 54 Days on market

Built 1974 $1397/mo HOA · 13% of rent

---

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 +15.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• DSCR +4.7/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A rare opportunity to own one of only 10 bayfront townhomes in Mariner Pointe! This beautiful 2bed 2.5bath condo boasts striking views of the San Carlos Bay and the Sanibel Causeway. Watch dolphins play and boats head out to the Gulf, all from the comfort of your glass-enclosed lanai. At night, enjoy the twinkling lights of Fort Myers Beach with the peace and quiet of Sanibel living. This unit has been tastefully updated with top-end stainless kitchen appliances, quartz countertops, and luxury vinyl flooring. Both bedrooms upstairs have the same stunning waterfront views as the main living level below. Private bathrooms feature lovely marble tile flooring and vanities. Lounge in the master suite, diving into a new book while pelicans dive for fish in the bay. Mariner Pointe is the perfect complex for water-lovers. No other complex offers 2 pools and tennis courts, a private fishing pier, 33 direct-gulf access boat docks, grills areas, kayak ramps/launch, and more!

Key facts

• Direct gulf access
• Deep-water canals
• Bayfront residence

Tags

• BAYFRONT RESIDENCE
• SWEEPING WATER VIEWS
• COMPLETELY UPDATED INTERIOR
• DIRECT GULF ACCESS
• DEEP-WATER CANALS
• AVAILABLE DOCKAGE

Property features AI

Finance

• Financial info: Pets allowed on a conditional basis (owner approval), limit 1 pet up to 30 lbs
• HOA & community: Homeowners association with quarterly fee; Association fee covers management, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, sewer, trash and water; Community amenities include beach rights, boat dock, beach access, boat ramp, barbecue/picnic area, pier, pickleball, pool, shuffleboard, tennis courts, and on-site management; Community has approximately 101 units; Community features: boat facilities, non-gated, tennis courts

Exterior

• Parking: Assigned parking; Guest parking; Paved parking; One assigned space
• Security: Security/high impact doors; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Municipal irrigation
• Home design: Two-story property; Entry level: 2; Southwest facing; Has view
• Construction: Insulated concrete forms construction; Stucco exterior; Built-up and flat roof
• Exterior features: Glass-enclosed patio/porch; Patio; Porch; Security/high impact doors; Smoke detector(s); Community pool

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Range; Refrigerator; Refrigerator with ice maker
• Bedrooms: Upper-level primary bedroom
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Breakfast bar; Living/dining room combination; Custom mirrors; Cable TV; Upper-level primary bedroom; Sliding windows; Impact glass windows; Shower-only with separate shower
• Laundry & utility: Washer; Dryer; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $949k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $936k (1.3% below list).
• Meets the 1% rule at list price ($10k rent vs $949k).
• Recommended offer: $921k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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: schools A+, 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.
• 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 $28k 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 54 days — a 3% lower offer ($921k) is reasonable based on typical stale-listing flexibility.
• 2 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.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $920,530 (3.0% 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. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.11% ✓
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-158,032
• Equity at exit: $141,499

10-year hold

• IRR: -8.3%
• Equity multiple: 0.47×
• Total profit: $-139,540
• Equity at exit: $82,052

Cash invested: $265,720 (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: 7.5×

Monthly cashflow live

• Estimated rent: $10,500 medium
• Mortgage (P&I): −$4,977
• Tax est. 1.5%: −$1,186 /mo · $14,235/yr
• Insurance: −$395
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,397
• Vacancy / Maint / Mgmt: −$2,205
• Net cashflow: $-87

Break-even live

Break-even rent $10,610

Max offer price $936,430

Occupancy floor 96%

Sensitivity live

Price	-10% $569	-5% $241	+0% $-87	+5% $-415	+10% $-743
Rent	-10% $-916	-5% $-502	+0% $-87	+5% $328	+10% $743
Rate	-1.0pp $391	-0.5pp $155	base $-87	+0.5pp $-333	+1.0pp $-583

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: $237,250
• Closing costs: $28,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 E Gulf Dr Unit G8 Sanibel, FL	2.0	2.0	1040	$10,500	$10.10	25d	1	0.75mi

HOA detail condo

• Monthly dues: $1,397 · $16,764/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-17
   days on market $949,000 Active 54 DOM
2. 2026-06-16
   days on market $949,000 Active 53 DOM
3. 2026-06-15
   days on market $949,000 Active 52 DOM
4. 2026-06-13
   days on market $949,000 Active 50 DOM
5. 2026-06-10
   days on market $949,000 Active 47 DOM
6. 2026-06-09
   days on market $949,000 Active 46 DOM
7. 2026-06-08
   days on market $949,000 Active 45 DOM
8. 2026-06-07
   days on market $949,000 Active 44 DOM
9. 2026-06-03
   days on market $949,000 Active 40 DOM
10. 2026-06-02
    days on market $949,000 Active 39 DOM
11. 2026-06-01
    days on market $949,000 Active 38 DOM
12. 2026-05-31
    days on market $949,000 Active 37 DOM
13. 2026-04-24
    listed $949,000 Active
14. 2021-12-27
    soldstatus $855,000
15. 2021-12-01
    soldstatus $855,000 Closed 978-char remark

    Show marketing remark (978 chars)

    A rare opportunity to own one of only 10 bayfront townhomes in Mariner Pointe! This beautiful 2bed 2.5bath condo boasts striking views of the San Carlos Bay and the Sanibel Causeway. Watch dolphins play and boats head out to the Gulf, all from the comfort of your glass-enclosed lanai. At night, enjoy the twinkling lights of Fort Myers Beach with the peace and quiet of Sanibel living. This unit has been tastefully updated with top-end stainless kitchen appliances, quartz countertops, and luxury vinyl flooring. Both bedrooms upstairs have the same stunning waterfront views as the main living level below. Private bathrooms feature lovely marble tile flooring and vanities. Lounge in the master suite, diving into a new book while pelicans dive for fish in the bay. Mariner Pointe is the perfect complex for water-lovers. No other complex offers 2 pools and tennis courts, a private fishing pier, 33 direct-gulf access boat docks, grills areas, kayak ramps/launch, and more!

16. 2021-10-14
    status Pending 978-char remark

    Show marketing remark (978 chars)

    A rare opportunity to own one of only 10 bayfront townhomes in Mariner Pointe! This beautiful 2bed 2.5bath condo boasts striking views of the San Carlos Bay and the Sanibel Causeway. Watch dolphins play and boats head out to the Gulf, all from the comfort of your glass-enclosed lanai. At night, enjoy the twinkling lights of Fort Myers Beach with the peace and quiet of Sanibel living. This unit has been tastefully updated with top-end stainless kitchen appliances, quartz countertops, and luxury vinyl flooring. Both bedrooms upstairs have the same stunning waterfront views as the main living level below. Private bathrooms feature lovely marble tile flooring and vanities. Lounge in the master suite, diving into a new book while pelicans dive for fish in the bay. Mariner Pointe is the perfect complex for water-lovers. No other complex offers 2 pools and tennis courts, a private fishing pier, 33 direct-gulf access boat docks, grills areas, kayak ramps/launch, and more!

17. 2021-10-08
    listed $849,000 Active 978-char remark

    Show marketing remark (978 chars)

    A rare opportunity to own one of only 10 bayfront townhomes in Mariner Pointe! This beautiful 2bed 2.5bath condo boasts striking views of the San Carlos Bay and the Sanibel Causeway. Watch dolphins play and boats head out to the Gulf, all from the comfort of your glass-enclosed lanai. At night, enjoy the twinkling lights of Fort Myers Beach with the peace and quiet of Sanibel living. This unit has been tastefully updated with top-end stainless kitchen appliances, quartz countertops, and luxury vinyl flooring. Both bedrooms upstairs have the same stunning waterfront views as the main living level below. Private bathrooms feature lovely marble tile flooring and vanities. Lounge in the master suite, diving into a new book while pelicans dive for fish in the bay. Mariner Pointe is the perfect complex for water-lovers. No other complex offers 2 pools and tennis courts, a private fishing pier, 33 direct-gulf access boat docks, grills areas, kayak ramps/launch, and more!

18. 2017-01-17
    soldstatus $600,000
19. 2004-04-15
    soldstatus $625,000
20. 1989-04-01
    soldstatus $255,000
21. 1977-04-01
    soldstatus $75,000

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°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: $126,000
• − Mortgage interest: −$53,159
• − Property taxes: −$14,235
• − Insurance: −$9,864
• − Repairs & maintenance: −$10,080
• − Management: −$10,080
• − HOA: −$16,764
• − Depreciation: −$27,607
• Taxable loss: −$15,789
• Est. tax savings @ 24.0%: +$3,789
• After-tax cash flow: $2,747/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

+1165.3% since first listed

9 events — show timeline

• 2026-04-24 Listed $949,000 FORTMLS
• 2021-12-27 Sold (Public Records) $855,000 Public Records
• 2021-12-01 Sold (MLS) $855,000 FORTMLS
• 2021-10-14 Pending — FORTMLS
• 2021-10-08 Listed $849,000 FORTMLS
• 2017-01-17 Sold (Public Records) $600,000 Public Records
• 2004-04-15 Sold (Public Records) $625,000 Public Records
• 1989-04-01 Sold (Public Records) $255,000 Public Records
• 1977-04-01 Sold (Public Records) $75,000 Public Records

Property tax history

-13.2%/yr

Latest (2025): $1,034 · -0.4% YoY. Source: county tax records.