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209 Bayshore Dr
Cape Coral, FL

209 Bayshore Dr

$470,000
3 bd • 2 ba • 1,958 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$470,000

Price/Sq.Ft

$240

Year Built

1975

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property offers excellent value at $240/sqft, which is approximately 20% below the Cape Coral average of $300/sqft for similar homes. The spacious 1,958 sqft layout is about 15% larger than the typical 3-bedroom home in the area. Recent renovations add significant value, including a complete remodel with high-end finishes like quartz countertops and stainless steel appliances. The 2020 roof update ($15,000-$20,000 value) and 2021 AC replacement ($5,000-$7,000 value) reduce near-term maintenance costs. The property's location near million-dollar riverfront homes suggests strong neighborhood value and potential for appreciation. The screened pool and paver deck offer resort-style living, a feature that typically commands a 5-10% premium in the Cape Coral market.

The Bad

The property's age (built in 1975) may require additional maintenance despite recent updates. The extreme flood risk (9/10) and wind risk (10/10) scores are significantly higher than the area averages, likely resulting in insurance premiums 30-40% above standard rates. The estimated $1,692/year insurance cost seems low given these risk factors and may not include flood insurance. The property has been on the market for 76 days, which is above the Cape Coral average of 60 days, suggesting potential pricing or condition issues. The recent price reduction of 4.1% indicates possible overpricing initially.

The Ugly

The extreme flood risk (FEMA Zone AE) poses a significant threat to the property's long-term value and livability. Annual flood insurance could cost $2,000-$4,000 or more, substantially increasing the total cost of ownership. The extreme heat risk (10/10) with 7 days/year over 107°F could lead to higher energy costs and potential health risks. The property's sale history shows high volatility, with a 197.1% increase from 2014 to 2020, which may not be sustainable. The total monthly ownership costs could be very high: assuming a 20% down payment on a 30-year mortgage at 6.5% interest, monthly costs could reach $4,500+ ($2,400 mortgage + $800 property tax + $400 insurance + $300 utilities + $600 maintenance/HOA), requiring an annual income of $180,000+ using the 30% rule.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for upper-middle-class buyers with household incomes above $180,000 who prioritize space and luxury finishes. It's ideal for families or retirees who value entertainment spaces and pool living. The property could appeal to investors looking for short-term rentals, as the three-bedroom layout and pool are attractive for vacation rentals, with potential monthly rates of $3,500-$4,000 based on local averages. The recent updates make it suitable for buyers who want a move-in ready home without immediate renovation needs.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to high ownership costs. It's not ideal for investors seeking low-risk, stable long-term appreciation due to the extreme climate risks. The property isn't appropriate for those with mobility issues or seniors concerned about maintenance, as the pool and large layout require significant upkeep. Buyers highly sensitive to heat or with respiratory issues should be cautious due to the extreme heat risk and potential for algae blooms affecting air quality.
Demographics
Area Median Income

$55,026

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Risk Assessment

Climate Risks

heatEXTREME

7 extreme heat days per year

98th percentile: 107°F

windEXTREME

Insurance: Required

floodEXTREME

FEMA Zone: AE

Insurance: Required

airMINOR

1 bad air quality days per year

fireMINIMAL

Insurance: Optional

Risk Analysis

The extreme flood and wind risks pose significant threats to the property's physical structure and insurance costs. Future insurance rate hikes or coverage limitations could make the property unaffordable or difficult to insure. Climate change may exacerbate these risks over time. The property's location in FEMA Zone AE may require elevated construction standards for any future additions or major renovations, potentially increasing costs. The rapid appreciation from 2014 to 2020 (197.1%) suggests a risk of market volatility and potential for value correction. The age of the home (49 years) means that despite recent updates, other major systems (plumbing, electrical) may need replacement in the near future, potentially costing $20,000-$30,000.
Insurance
Annual Cost

$1,692

$141 per month

Financials

Monthly Costs

Price History

Property Taxes

$3,966
2023 Tax Assessment
16.1%from previous year
Assessed Value$240,502
Tax Rate1.65%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$572,500

21.8% above list price

Median Price

$725,000

Based on 6 recent sales

Price per Sq.Ft

$286

Comparable Properties

5234 Sarasota CT, CAPE CORAL, FL 33904
Price: $420,000
Sq.Ft: 1,992
Beds/Baths: 3/2
$/Sq.Ft:
$21112.2%
Sale Date: 12/7/2024
5234 Sarasota CT, CAPE CORAL, FL 33904
Price: $420,000
Sq.Ft: 1,992
Beds/Baths: 3/2
$/Sq.Ft:
$21112.2%
Sale Date: 12/7/2024
5234 Sarasota Court, Cape Coral, FL 33904
Price: $420,000
Sq.Ft: 1,992
Beds/Baths: 3/2
$/Sq.Ft:
$21112.2%
Sale Date: 12/7/2024
418 SW 49TH LANE, CAPE CORAL, FL 33914
Price: $725,000
Sq.Ft: 2,010
Beds/Baths: 3/2
$/Sq.Ft:
$36150.3%
Sale Date: 11/6/2024
418 SW 49th LN, CAPE CORAL, FL 33914
Price: $725,000
Sq.Ft: 2,010
Beds/Baths: 3/2
$/Sq.Ft:
$36150.3%
Sale Date: 11/6/2024
418 SW 49th LN, CAPE CORAL, FL 33914
Price: $725,000
Sq.Ft: 2,010
Beds/Baths: 3/2
$/Sq.Ft:
$36150.3%
Sale Date: 11/6/2024

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