20821 Coconut Drive
About This Property
Discover this stunning, move-in ready 2-bedroom, 2-bath single-family residence nestled in this, highly desirable Estero River Heights community, known for its low HOA fees and boating-oriented atmosphere.
This home offers exceptional value, priced strategically below its recent appraisal, and features a comprehensive, renovation completed in 2022. The open floor plan is bathed in natural light and showcases fresh, modern finishes including new luxury vinyl flooring throughout. The chef's kitchen boasts upgraded cabinetry and stainless steel appliances, complementing the fully remodeled bathrooms. Major infrastructure upgrades provide peace of mind: a new HVAC system (air handler and ductwork) installed in 2022, a new roof in 2021, and the security of impact-rated windows and sliding door (2016). Additional new features include a water heater, washer, dryer, and a hurricane-rated garage door for the spacious 2-car garage.
The oversized corner lot provides ample space for outdoor enjoyment, expansion, or the addition of a custom pool.
Community and Location Highlights:
Direct Water Access: Enjoy exclusive private boat ramp access to the Estero River, leading directly to Estero Bay and the Gulf of Mexico-perfect for kayaking, fishing, and boating enthusiasts.
Local Recreation: Find a neighborhood park right across the street with a pavilion, playground, and basketball court. The home is also moments from Estero Bay Preserve and Koreshan State Park.
Unbeatable Convenience: Located just minutes from premier shopping and dining destinations including Coconut Point Mall, Gulf Coast Town Center, and Miromar Outlets. Quick access to I-75 makes commuting simple. You are also close to FGCU and beautiful Bonita Beach.
This thoughtfully upgraded and well-maintained home offers the perfect blend of modern comfort and effortless water recreation. Don't miss this opportunity!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 18, 2026 | Sold | ||
| Sold | |||
| Apr 16, 2026 | In contract | - | |
| In contract | |||
| Apr 9, 2026 | Price Decreased |
$395,000
↓ $5K
(1.2%) | |
| Price Decreased | |||
| Mar 1, 2026 | Price Decreased |
$399,900
↓ $5K
(1.3%) | |
| Price Decreased | |||
| Feb 1, 2026 | Price Decreased |
$405,000
↓ $5K
(1.2%) | |
| Price Decreased | |||
Property Highlights
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About Estero
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017