Property Description:
This 2.5-acre property at 5901 Pangola Dr, Fort Myers FL 33905 includes two structures — a 2-bed, 2-bath, 1,546 sf CBS main house (built 1979) and a 1-bed, 1-bath detached 380 sf frame cottage overlooking the lake. Both structures are vacant and require complete renovation, with the property itself heavily overgrown and lacking a defined driveway or entrance. Located in Flood Zone X (no flood insurance required) with AG-2 zoning, this parcel offers strong long-term value for buyers seeking acreage, privacy, and water views.
🛠️ Rehab Scope
- Full interior and exterior renovation of both dwellings (roof, HVAC, plumbing, electrical, windows, kitchens, baths, flooring, finishes)
- Repair or rebuild detached 380 sf cottage for guest use or rental potential
- Clear and grade overgrown lot; install new driveway and entry
- Landscaping, fencing, and lake-edge cleanup for usability and appeal
- Optional dock or outdoor area to enhance lakefront value
🟢 Comparable Sales
- 5770 Neal Rd – 3/2 | 1,600 sf | 2.52 ac | 2007 | $451,500 ($282/sf) – average condition
- 5740 Neal Rd – 3/2 | 1,188 sf | 2.28 ac | 1969 | $323,000 ($272/sf) – dated interior
- 6030 Pangola Rd – 4/3 | 2,402 sf | 3.62 ac | 2022 | $830,000 ($346/sf) – newer construction
- 5961 Pangola Rd – 4/3 | 1,910 sf | 4.82 ac | renovated | $874,999 ($458/sf) – modern finishes
- 6670 Pangola Rd – 3/2 | 2,388 sf | 5 ac | $965,000 ($404/sf) – updated, landscaped estate
Recent renovated acreage homes are selling between $340–$460/sf, while dated properties on similar lots have closed around $270–$285/sf. Considering the subject’s 2.5-acre size, lake frontage, and dual-home setup, a fully renovated property should support an ARV in the $550K–$620K range, depending on finish level and exterior improvements.