Cape Coral Rental Market

[Emmanuel Sanchez]

Hello BP family, 

I am a rookie investor out of the Miami, FL suburbs. For any fellow investors active in the Cape Coral Market, I wanted to gain some insight on rental pricing so that I can crosscheck my analysis. I have a B2R under construction in the Diplomat area of Cape Coral (33909) with proximity to great schools and lots of businesses (shopping, restaurants, grocery stores, etc). The pro forma provided by my realtor states that this property can rent out for $2,400. I have also been checking Zillow (with a grain of salt) and have seen similar properties go anywhere from $2,300 to $3,000. For those on the ground, what has your experience been? Would you consider the ranges above to be fair or are they out of whack? Below I have included some property specs. Thanks for your help! 

Property Specs

- 4 bedroom/2 bath/2 car garage w opener 

- 1,828 sqft. 

- New construction 

- Kitchen (quartz countertops, stainless steel appliances)

- Bathrooms (ceramic tiled showers, solid surface vanity countertops)

- Paver driveway, front walkway, lanai and entry

- Covered lanai

Thanks for your help,

Emmanuel 

[Peter Davis]

@Emmanuel Sanchez

Rents have definitely shot up in Cape Coral. Based on what you've described you're looking at rents in the $2,300 to $2,500 range in 33909.