For SaleRisky Deal166 days on market

2366 E Mall DR #514

2366 E Mall DR #514, FORT MYERS, FL 33901, Fort Myers, FL 33901
$90,000

Listing Price

Property image 1
2366 E Mall DR #514, FORT MYERS, FL 33901
Loc: Fort Myers, FL
Days Listed
166
Tax Assessed
$102k
Lot Size
6,482 sqft
Type
condo

More Than Just a Property

We believe a home extends beyond its walls. That's why we help you explore the pulse of the community—from top-rated schools to essential emergency services. Your safety, well-being, and connection to the neighborhood matter to us.

4.9
Safety Score
A+
Schools

Nearby Schools

Educational options and performance ratings in the area.

2

Orangewood Elementary School

PK-5
0.8 mi away
2

Fort Myers Middle Academy

6-8
1.4 mi away
6

Fort Myers High School

9-12
2.1 mi away

Property Overview

No property narrative or remarks were supplied in the source listing records. Underwriting and financial metrics are calculated directly from public record data and MLS attributes.

Features & Amenities

Condominium1979CentralCeiling Fan(s), Central Air1 Carport space$7,692 annually167 Days$82

Haven AI Verdict

Recommendation
Risky
Confidence Score: 1/10
Exercise caution due to potential market volatility.
Cap Rate
4.28%
Total ROI
52.0%
Cash Flow
$-146/mo
DSCR
0.69
Was this AI Verdict accurate?

Data provided by Haven AI. Disclaimer

Haven AI

Property yields an estimated $-146/mo net cash flow with a 4.3% cap rate. Underwriting indicates risky fundamentals for long-term hold.

Strengths
  • Prime residential location in Fort Myers, FL
  • Long-term capital appreciation corridor
Considerations
  • Verify historical operating expenses and local tax assessment
  • Confirm current lease terms and tenant estoppel certificates

10-Year Price Projection

Price & Tax History

Price History

DateEventPricePrice/sqft
2026-08-01Price change$90,000$82
2026-06-10Price change$104,900$96
2026-05-15Price change$114,900$105
2026-05-01Price change$124,900$114
2026-04-16Price change$133,900$123
2026-04-01Listed for sale$138,900$127
2025-04-24Listing removed$1,595$1
2025-03-15Listed for rent$1,595$1
2023-04-24Sold$190,000$174
2023-03-21Pending sale$190,000$174
2023-02-16Listed for sale$190,000$174
2022-02-08Sold$140,000$128
2022-01-14Pending sale$140,000$128
2022-01-13Listed for sale$140,000$128
2013-01-30Sold$51,000$47
2013-01-13Pending sale$59,900$55
2013-01-09Price change$59,900$55
2013-01-03Price change$65,300$60
2012-12-28Price change$65,400$60
2012-12-12Price change$65,500$60
2012-12-04Price change$65,600$60
2012-11-28Price change$65,700$60
2012-11-21Price change$65,800$60
2012-11-17Price change$65,900$60
2012-11-14Price change$68,400$63
2012-11-09Price change$68,500$63
2012-11-01Listed for sale$69,200$63
2003-12-09Sold$47,000$43

Tax History

YearProperty TaxTax Assessment
2025$1,237.38$101,664
2024$1,981.3$146,097
2023$2,440.1$130,099
2022$634.64$47,233
2021$613.84$45,857
2020$510.56$45,224
2019$499.01$62,178
2018$499.01$43,383
2017$491.97$42,491
2016$480.42$52,675
2015$476.56$67,080
2014$436.78$41,000
2013$381.3$34,100
2012$575.38$33,100
2011$455.01$20,600
2010$30.91$25,300
2009$293.11$37,110
2008$559.14$88,000
2007$530.75$108,000
2006$868.38$74,000
2004$581.07$46,000
2003$1,290.79$50,000
2002$971.78$37,000
2000$0$29,000
Nathaniel Pitchon-Getzels Logo
Getzels Group
Haven Team
CalRE #01884947
Call / Text
818.535.5337

Property Specs

Beds
2
Baths
2
Sq Ft
1,092
Address-Level Value-Add Underwriting

ARV, Rehab & Maximum Allowable Offer (MAO)

Model contractor scopes, estimated after-repair value (ARV) projections, and determine your purchase price ceiling to protect target margins.

Modeled value-add projection (+18% baseline) for 2b/2ba in Fort Myers
+18% vs. list
$
$49,140
75% Rule
Maximum Allowable Offer (MAO)
$30,510

Calculated as (75% × $106,200) − $49,140

Asking Price is $59,490 (66.1%) Above MAO
To achieve your target margin of 25%, submit an initial counteroffer closer to $30,510 based on $49,140 in required updates.
Current Asking Price:$90,000
Estimated ARV:$106,200
Estimated Renovation:$49,140
All-In Capital Basis (MAO + Rehab):$79,650
Projected Equity Margin:+$26,550
Institutional Underwriting Ledger

Investment Numbers & Operating Model

Standardized cash flow underwriting modeled with state tax schedules, regional insurance hazard risk, and disciplined operating reserves.

Data Provenance:[Observed] List Price: $90,000[Estimated] Rent: $720/mo[Estimated] Tax Rate: 0.98% (FL)[Estimated] Hazard Ins: $150/mo[Defaulted] Reserves: 23% OpEx Baseline
Haven ScoreRisky
1/ 10

Multi-factor yield grade

Cap Rate (Unleveraged)
4.28%

NOI: $3,856/yr

Cash-on-Cash Yield
-8.4%

On $20,700 invested

DSCR Ratio
0.69x

Negative debt coverage

5-Yr Leveraged ROI
+52.0%

Equity + cumulative cash

Financing Scenario Controls
Adjust down payment & rates to model your personalized return

Monthly Cash Flow Breakdown

Monthly Operating Deductions
[Estimated]Property Taxes (0.98% of basis)-$83/mo
[Estimated]Homeowner / Hazard Insurance-$150/mo
[Defaulted]Vacancy Reserve (5% of rent)-$36/mo
[Defaulted]Repairs & Maintenance (10% of rent)-$72/mo
[Defaulted]Property Management (8% of rent)-$58/mo
Total Pure Operating Expenses-$399/mo
Net Investor Cash Flow
Gross Scheduled Rent+$720/mo
Less: Operating Expenses-$399/mo
Net Operating Income (NOI)+$321/mo
Less: Debt Service (30yr @ 6.75%)-$467/mo
Net Cash Flow
$-146/mo
$-1,747/year
Underwrite with Acquisition CalculatorsTransfer this property's exact numbers into dedicated underwriting tools:

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