$299,900
2 Bed Waterfront Home for Sale in Cape Coral
1927 SE 40th Terrace 107, Cape Coral, FL, 33904
About this home
Boat lifts have been approved!! Hurry! Ask for details. This beautifully updated and MOVE-IN-READY, FIRST-FLOOR 2-bedroom, 2-bath condo is located in Southeast Cape Coral’s most desirable Beach Parkway area. The VIEWS from this home are unbelievable This renovated end unit offers panoramic views of a 200-ft-wide canal with DIRECT SAILBOAT ACCESS and NO BRIDGES, just moments to the Caloosahatchee River. Dock your boat right behind your unit accommodating up to a 30-ft. boat, making this a true boater’s dream. Inside, the light-filled open floor plan features two triple sliding glass doors that showcase stunning water views and seamlessly blend indoor and outdoor living. The home has been tastefully updated throughout, featuring a beautifully renovated kitchen with quartz countertops, custom cabinetry, and updated appliances. Both bathrooms have been upgraded with quality finishes, Relax and entertain in the enclosed and screened lanai, perfect for enjoying year-round waterfront living. NO FLOODING, Impact-resistant windows and sliding doors provide peace of mind, while recent community improvements include new standing seam metal roofs, soffits, carport roofs, and gutters. Additional features include a community pool and a 5x8 private storage unit located at the carport. This is a beauty!!
Property details
- Type
- Condominium
- Year built
- 1975
- Interior
- 1,186 sqft
- Lot size
- 2,896.74 sqft
- Acreage
- 0.07 acres
- Garage
- None
- Days on market
- 144
- Total association fees
- $9,600/yr (~$800/mo)
- CDD
- None
- Est. taxes (1.4%)
- $4,199/yr
- Flood zone (area est.)
- Yes · High risk (AE)
- Storm protection
- Impact Windows/Doors
- Exposure
- North
- Waterfront
- Yes
- Gulf access
- No
- Gulf access type
- N/A
- Pool
- No
- Spa
- No
- Natural gas
- No
- Water
- Public
- Sewer
- Public Sewer
- New construction
- No
- Pets
- Call, Conditional
- County
- Lee
Total association fees sums the core association dues the MLS feed provides (HOA, condo/master association, and land lease), normalized to a yearly figure. These are separate from and additional to specialty charges, mandatory club or food-and-beverage minimums, special assessments, and rec-lease fees, which the IDX feed does not carry. Always confirm the full fee schedule with the HOA or listing agent.
Maintenance included in the fee
What the association dues cover, per the MLS. Confirm the full schedule with the HOA.
Amenities
Flood risk shown is an area-level estimate and can differ from a specific unit's actual FEMA designation (which varies by structure and elevation). Look up this address on the FEMA Flood Map and verify with a licensed insurance agent before relying on it.
Based on the $/sqft of 6 comparable homes sold nearby in the last 12 months. Indicative, not an appraisal.
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Recently sold nearby
Closed comparable sales within ~1 mile in the last 12 months, similar price, size, beds/baths, and age.
| Address | Sold | Sold price | Beds/Baths | Sq ft | $/sqft |
|---|---|---|---|---|---|
| 4013 SE 20th Place 205 | Oct 2025 | $324,000 | 2/2 | 1,295 | $250 |
| 4013 SE 20th Place 505 | Jul 2026 | $280,000 | 2/2 | 1,295 | $216 |
| 4115 SE 18th Place 201 | Nov 2025 | $280,000 | 2/2 | 1,362 | $206 |
| 4210 SE 20th Place C2 | Dec 2025 | $260,000 | 2/2 | 1,272 | $204 |
| 4229 SE 19th Place 1C | Apr 2026 | $280,000 | 2/2 | 1,360 | $206 |
| 4231 SE 19th Place 1J | Apr 2026 | $275,000 | 2/2 | 1,360 | $202 |
| Average | 6 comps | $283,167 | $214 |
Market trends, Cape Coral
Median of closed MLS sales each month over the available window. Months with too few sales are omitted; the range extends automatically as more sales close.
Live area medians from the MLS · see all listings. Indicative, not an appraisal.
Price & status history
Down $20,000 (6.3%) from the original list price.
| Aug 31, 2026 | Sold | $295,000 |
| Aug 7, 2026 | Price reducedfrom $305,000 | $299,900 |
| Mar 20, 2026 | Listed | $315,000 |
The good, the trade-offs & the location
- Waterfront
- Storm protection: Impact Windows/Doors
- Built 1975 — pre-2002 construction may carry older wind codes and higher insurance
- In a higher-risk flood zone (AE) — flood insurance likely required
- No garage listed
- Higher association fees (~$9,600/yr)
Straight-line distances to major SWFL amenities, approximate; actual drive times vary.
Nearby schools
Get more information on their programs, scores, and extracurriculars on each school's page · browse the full schools directory.
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Listing information is provided in part by the Florida Gulf Coast Multiple Listing Service (MLS) through its Broker Reciprocity / Internet Data Exchange (IDX) program. Properties displayed may be listed by brokerages other than SWFL Relocation Team. Data is deemed reliable but is not guaranteed accurate by the MLS or this brokerage and should be independently verified. Fees, flood zones, taxes, square footage, and school assignments are estimates from the feed and must be confirmed. © 2026 SWFL Relocation Team. All rights reserved.