2117 NE 40th St
More Than Just a Property
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Nearby Schools
Educational options and performance ratings in the area.
Dr Carrie D Robinson Littleton Elementary School
Diplomat Middle School
Island Coast High School
Property Overview
A stunning investment opportunity in a prime location. This property features modern amenities, spacious living areas, and strong rental potential.
Features & Amenities
Haven AI Verdict
Data provided by Haven AI. Disclaimer
Haven AI
This single-family property in Cape Coral, FL, presents a solid, yield-focused opportunity. The stated purchase price of $299,900 for a 3/3 configuration provides a respectable starting rental yield near 6.0%. Cape Coral's strong underlying demand, especially for renovated or modern housing stock, supports the 4% projected annual appreciation, though this should be verified against recent neighborhood sales comps. The key conservative concern is accurately forecasting Net Operating Income (NOI). We must rigorously vet the projected rental rate against current market rents post-vacancy and management costs to ensure the gross yield translates effectively to a positive cash flow after accounting for insurance, which can be volatile in Southwest Florida.
- • Solid starting gross rental yield (~6.0%) for a single-family home.
- • Favorable bedroom/bathroom count (3/3) which aligns well with tenant demand.
- • Moderate projected annual appreciation rate of 4%, suggesting relative stability.
- • Cape Coral continues to see demographic influx, supporting rental demand.
- • Potential for high insurance premiums (Hurricane/Flood) impacting the actual Cap Rate.
- • Verification needed on the conservative nature of the provided 6.0% gross yield (Is it based on high potential rent or current below-market rent?).
- • Proximity to water features, which impacts flood zone classification and insurance costs.
- • Market saturation risk if new construction outpaces demand growth.
10-Year Price Projection
Price & Tax History
Price History
| Date | Event | Price | Price/sqft |
|---|---|---|---|
| 2026-07-20 | Sold | $280,000 | $158 |
| 2026-07-08 | Contingent | $289,900 | $163 |
| 2026-06-21 | Pending sale | $289,900 | $163 |
| 2026-06-20 | Listing removed | $2,100 | $1 |
| 2026-06-14 | Listed for sale | $289,900 | $163 |
| 2026-05-25 | Listing removed | $289,900 | $163 |
| 2026-05-25 | Listed for rent | $2,100 | $1 |
| 2026-04-24 | Price change | $289,900 | $163 |
| 2026-03-31 | Price change | $294,900 | $166 |
| 2026-03-05 | Listed for sale | $299,900 | $169 |
| 2010-11-18 | Sold | $75,000 | $42 |
| 2010-09-10 | Listed for sale | $89,000 | $50 |
| 2009-11-05 | Sold | $80,800 | $45 |
| 2005-06-08 | Sold | $52,000 | $29 |
| 2003-04-10 | Sold | $5,300 | $3 |
Tax History
| Year | Property Tax | Tax Assessment |
|---|---|---|
| 2025 | $1,897.4 | $96,629 |
| 2024 | $1,727.34 | $93,906 |
| 2023 | $1,604.47 | $91,171 |
| 2022 | $1,423.8 | $88,516 |
| 2021 | $1,362.6 | $85,938 |
| 2020 | $1,351.53 | $84,751 |
| 2019 | $1,299.54 | $156,659 |
| 2018 | $1,299.54 | $81,301 |
| 2017 | $1,273.7 | $79,629 |
| 2016 | $1,252.58 | $133,591 |
| 2015 | $1,191.98 | $117,987 |
| 2014 | $1,170.33 | $110,003 |
| 2013 | $1,097.81 | $86,708 |
| 2012 | $953.11 | $87,598 |
| 2011 | $954.67 | $72,266 |
| 2010 | $1,901.17 | $76,486 |
| 2009 | $1,969.51 | $80,800 |
| 2008 | $2,992.8 | $158,700 |
| 2007 | $3,715.89 | $198,690 |
| 2006 | $1,331.53 | $70,000 |
| 2004 | $287.71 | $11,550 |
| 2003 | $105.49 | $3,140 |
| 2002 | $66.34 | $1,490 |
| 2000 | $0 | $1,140 |
Property Specs
Investment Numbers & Operating Model
Standardized cash flow underwriting modeled with state tax schedules, regional insurance hazard risk, and disciplined operating reserves.
Multi-factor yield grade
NOI: $14,756/yr
On $68,977 invested
Negative debt coverage
Equity + cumulative cash
Monthly Cash Flow Breakdown
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