Cape Coral Rental Market Saturated?

[Terry Garza]

Hello all - 

I'm considering doing a luxury house hack in Cape Coral to get started in that area. I'm looking at new duplex construction homes that run in the range of 315K - 400k (some on the canal).  Looking at the rental sites, it concerns me the number of rentals listed and the length of time with no bites.  

I wonder if the rental market in the Cape has been tapped out.  Currently the rents run about $1200 - $1400 for a newer duplex. 

North Cape still has a lot of room for growth.

I appreciate your thoughts.

[John Thedford]

It appears rents are flattening in the cape. This year I expect few price increases on my personal rentals for that reason. It also appears our market is slowly changing to a buyers market. I would still buy in the cape but it has to make sense.. There are LOTS of duplex's available in the 325K range. If you buy, you need to buy under market to make it worthwhile.