2 Bed Waterfront Home for Sale in Wayward Wind
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For SaleMLS# 2026013260

$179,900

2 Bed Waterfront Home for Sale in Wayward Wind

1220 SE 40th Street 8, Cape Coral, FL, 33904

2 beds2 baths1,000 sqft
BoatingCommunity PoolWaterfront

About this home

GULF ACCESS WATERFRONT!!! ONE YEAR FREE HOA FEES!! Affordable Waterfront Boating Lifestyle – Renovated Condo with Dock, Quick River Access & Walk to Downtown Cape Coral. Experience the relaxed waterfront lifestyle that makes Southwest Florida so special. This fully renovated 2-bedroom, 2-bath ground-floor condominium offers approximately 1,000 square feet of comfortable living in a small boating-oriented community just minutes from downtown Cape Coral. Boaters will love the location. From the community dock, enjoy a 10–15 minute idle-speed boat ride to the Caloosahatchee River, providing convenient boating access to the Gulf of America. The waterfront setting creates a true Florida experience. It’s common to see manatees and dolphins swimming through the canal, adding to the peaceful waterfront atmosphere. This community is designed for enjoying the outdoors. Residents can gather along the concrete waterfront patio area, perfect for morning coffee, sunset relaxation, or family picnics by the water. Kids often enjoy fishing right from the dock, creating the kind of simple waterfront memories that define coastal living. The community boat dock is currently undergoing renovations, with improvements underway that will enhance the boating experience even further in the coming months. Community highlights include: • Waterfront community with common boat dock • Concrete waterfront patio gathering area • Beautiful community swimming pool • Quiet, friendly boating community atmosphere • Ground-floor convenience Location is another major highlight. The property sits just about one mile from downtown Cape Coral, placing you within walking distance of restaurants, entertainment, shops, coffee houses, salons, and everyday conveniences. The nearby Del Prado corridor offers hundreds of businesses and services, making this one of the most convenient locations in the city. Whether you're searching for a primary residence, seasonal getaway, or an affordable entry into the Southwest Florida boating lifestyle, this condominium offers an outstanding opportunity to enjoy waterfront living at an attractive price point.

Property details

Type
Condominium
Year built
1987
Interior
1,000 sqft
Lot size
3,802.788 sqft
Acreage
0.09 acres
Garage
None
Days on market
166
Total association fees
$4,800/yr (~$400/mo)
CDD
None
Est. taxes (1.4%)
$2,519/yr
Flood zone (area est.)
Yes · High risk (AE)
Storm protection
None listed
Exposure
East
Waterfront
Yes
Gulf access
No
Gulf access type
N/A
Pool
No
Spa
No
Natural gas
No
Water
Assessment Paid
Sewer
Assessment Paid
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

IrrigationWaterMaintenanceGroundsReserveFundSewerWater

What the association dues cover, per the MLS. Confirm the full schedule with the HOA.

Amenities

BoatDockPierPoolSeeRemarksManagement

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.

Above marketThis home is priced above comparable recent sales.
This home
$180/sqft
Comp median
$165/sqft
Difference
+9%

Based on the $/sqft of 4 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.

AddressSoldSold priceBeds/BathsSq ft$/sqft
3943 SE 11th Place 105Feb 2026$177,0002/21,179$150
1005 SE 40th Street 5Dec 2025$169,9002/21,111$153
3803 SE 11th Place 1210Jun 2026$205,0002/21,008$203
3714 SE 12th Avenue 203Apr 2026$195,0002/21,111$176
Average4 comps$186,725$171

Market trends, Cape Coral

Median list
$399,000
Median $/sqft
$232
Median sold (90d)
$385,000
Avg days on market
94
Active listings
2,481
Median sold price · Cape Coral
$385,000last 3 months7.2% vs $359,000 prior 3 months
Median closed price by month · Cape Coral
1.3% MoM8.4% YoY
$340k$365k$390kJul ’25Aug ’26
$384,750Aug ’26 · 413 sales

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 (10%) from the original list price.

May 11, 2026Price reducedfrom $189,900$179,900
Mar 18, 2026Listed$199,900

The good, the trade-offs & the location

Pros
  • Waterfront
Consider
  • Built 1987 — 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
Location convenienceHigh
Hospital
3.9 mi
Cape Coral Hospital
Beach
8.7 mi
Fort Myers Beach
Airport
5.3 mi
Page Field (Fort Myers)
Shopping
5 mi
Bell Tower Shops

Straight-line distances to major SWFL amenities, approximate; actual drive times vary.

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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.