Lot Selection Tips in Cape Coral, FL
Based on my investment experience in Cape Coral with Rent to Retirement, I often have potential investors ask about how to select an appropriate lot when they all more or less look the same. Below is my list of things I've learned to consider. What other tips/rules of thumb do you have?
Freshwater Canal Lot Considerations:
- At least one block away from a major highway to reduce road noise
- A West, South, or East facing lot all things being equal (i.e., the direction the back of the lot where your tenant would relax faces)
- The wider the canal, the better
- Look for houses in the surrounding areas with pools - this is a good indication of a higher value home
- East of El Dorado (west of El Dorado is mainly designated as FEMA flood zone areas)
- Make sure no protected species on your lot or the adjacent lot (burrowing owls and gopher tortoises in specific)
- Consult the Cape Coral Utility Expansion Map. You want to be in one of the later expansion phases to avoid $15-$20k in tax assessments paid over 20 years when the City connects the lot to City water/sewer
- Flat lots without a lot of trees (moving earth or removing trees can be quite costly)