22690 Island Lakes Drive
About This Property
The home has been extensively updated, including fully replaced plumbing, a new roof, new flooring, updated lighting throughout, new appliances, and a new HVAC system. The kitchen and bathrooms have been updated with new cabinets, along with a new shower and jetted bathtub. The primary bathroom also has plumbing in place for a future double-sink vanity. The second bathroom offers convenient direct access to the pool and lanai.
Additional improvements include interior and exterior painting, a new pool filter, updated landscaping, and 32" x 32" floor tile throughout much of the home. A transferable home warranty is also in place covering the appliances, HVAC system, and water heater.
Low association fees include access to excellent amenities, including pickleball courts and a nine-hole par-three golf course. Ideally located in South Lee County directly across from Coconut Point, with convenient access to shopping, dining, entertainment, and more. Not located in a flood zone.
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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 |
|---|---|---|---|
| Sep 5, 2026 | Listed by Realty World J. PAVICH R.E. | $539,500 | |
| Listed by Realty World J. PAVICH R.E. | |||
| Jul 29, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Jul 12, 2026 | Price Decreased |
$549,999
↓ $20K
(3.5%) | |
| Price Decreased | |||
| Jun 22, 2026 | Price Decreased |
$569,999
↓ $5K
(0.9%) | |
| Price Decreased | |||
| Jun 12, 2026 | Price Decreased |
$575,000
↓ $15K
(2.5%) | |
| Price Decreased | |||
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About Estero
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017