Vacation properties on Sanibel and Captiva won’t generate massive cash flow, but can however, cover the costs of owning your slice of paradise. With that said, it is impossible to predict the rental income of any specific vacation unit. Earnings vary based on how well the property is marketed, its interior amenities, the owners use of the property and the overall economic conditions of the market.
So what rental income can you expect on Sanibel?
To help shed some light on this question, I did a quick survey of Sanibel Island condos sold from 6/1/2014 through 6/1/2015. I included any MLS listings that provided a rental history.
Sanibel Vacation Rental Income – Condos Sold in Past 12 Months
These numbers are based on *reported* income. Many of these units had significant owner use, which cuts down on the total income of the property. Most are not actively marketed by their owners, but instead rely solely on their property management company for bookings.
|SOLD Price Range||2013 Reported Rental Income|
|$300,000 – $400,000||$13,000 – $45,000|
|$400,001 – $600,000||$21,000 – $51,000|
|$600,001 – $800,000||$30,000 – $79,000|
Sanibel Rental Property for Sale
I also checked some current listings that have reported rental income. Below are a few examples of what is available as of June 5, 2015.
|Condo Complex||List Price|
(as of 6/5/2015)
|2014 Reported Rental Income|
|Sanibel Arms W.||$529,000||$38,000|
|Island Beach C.||$649,000||$28,000|