Real Estate Investing in Cape Coral, Florida (33904)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 33904 (Cape Coral, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 28.0% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.1% CAGR).
What’s happening in Cape Coral, FL (33904)?
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Market Analysis: 33904 Cape Coral
The 33904 ZIP in Cape Coral, FL is a local-operator market. Outside capital chasing a $340K entry has to pair deep knowledge with the discount.
From an investor standpoint, the numbers look inviting — $340K purchase price, 0.0% nominal cap — the work to hit that pro forma in 33904 is substantial and deserves full respect.
Statewide comparisons place 33904 among FL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 33904 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 33904 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Cape Coral:
Property Strategy for 33904
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $125,485 | $1,690 | 9.7% | +4.6% | $125,485 |
| 2BR | $216,919 | $2,020 | 6.7% | +4.2% | $108,459 |
| 3BR | $385,426 | $2,640 | 4.9% | +6.0% | $128,475 |
| 4BR | $559,057 | $2,920 | 3.8% | +7.0% | $139,764 |
| 5BR | $1,057,554 | — | — | +7.1% | $211,511 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33904 Compare?
| Metric | 33904 | Cape Coral | Cape Coral-Fort Myers, FL | Florida |
|---|---|---|---|---|
| Home Value | $339,673 | $344,995 | N/A | $374,697 |
| 5-Year CAGR | 1.1% | 2.1% | N/A | 7.4% |
| Avg Rent | $1,878 | $1,903 | N/A | - |
| Cap Rate | 4.3% | 4.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 33904 (Cape Coral, FL). Anonymous, moderated, never written by AI.
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Property managers serving Lee County
Manage rentals here? List your business →Ocean Blue Property Management offers residential, multi-family, commercial, and vacation property management services in Tampa Bay and Fort Myers. summary from their website
Sandcastle Community Management offers HOA and Condominium Management, professional maintenance, financial solutions, and real estate services in Florida, including Naples, Fort Myers, and Bonita Spri summary from their website
JNS Property Management is a full-service development and management company specializing in commercial retail and office space in Central Florida. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $339,673 |
| Monthly Rent | $1,878 |
| Price-to-Rent | 15.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | -2.2% ▼ |
| 3-Year CAGR | -6.2% ▼ |
| 5-Year CAGR | +1.1% ▲ |
| 10-Year CAGR | +4.7% ▲ |
🏠 Rent Trends
| 1-Year | -3.8% ▼ |
| 3-Year CAGR | -2.4% ▼ |
| 5-Year CAGR | +4.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 33904
Population: 32,925
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 33904
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
CYPRESS LAKE MIDDLE SCHOOL
TANGLEWOOD ELEMENTARY SCHOOL
CYPRESS LAKE HIGH SCHOOL
FLORIDA SOUTHWESTERN COLLEGIATE HIGH SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,428 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the rental occupancy rate in Cape Coral, FL?
Cape Coral, FL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Cape Coral, FL a good place for real estate investing?
Yes - Cape Coral, FL a 3.0/5 investability score. With $340K home prices against $1,878/mo monthly rent, the market delivers a reasonable entry point for new investors.
How much does a house cost in Cape Coral, FL?
In Cape Coral, FL the median home value sits at $340K. Against the broader FL market, that reads as reasonable for most investors.
What is it like being a landlord in Cape Coral, FL?
FL ranks as a landlord-friendly state for landlord-tenant law. Cape Coral generally follows the statewide framework, so landlords face reasonable operating rules.
Can I house hack in Cape Coral, FL?
Cape Coral, FL is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $340K price point reasonable to enter.
You know 33904 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 33904 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 33904 ranks in Cape Coral-Fort Myers, FL
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