$300,000
2 Bed Waterfront Home for Sale in Cape Coral
850 SE 1st Terrace, Cape Coral, FL, 33990
About this home
THE ULTIMATE BOGO—BUY THE LAKEFRONT LOT AND GET THE HOUSE! Okay, maybe not literally, but when a property on beautiful Shamrock Lake is priced this close to lot value AND comes with a cute saltbox-style home with a new roof, impact windows, updated kitchen, two-car garage, in-ground spa and an unfinished second floor with even more potential…you have to admit, that’s one heck of an opportunity! This one is all about LOCATION, VALUE and POSSIBILITY—and there’s plenty of all three. Inside, 10’ ceilings and a greatroom-style floorplan give the home an open, airy feel, while large 8’ pocketing sliders put that LAKE VIEW front and center. The kitchen has already received a stylish refresh with white wood shaker cabinetry featuring tongue-and-groove construction and soft-close features, white and gray granite countertops and a stunning backsplash. The home currently offers two bedrooms, each with the privacy of its own bathroom, including an en-suite arrangement with walk-in closet and several updates. But here’s where the POTENTIAL gets even more interesting—the unfinished second floor is already pre-plumbed and pre-wired and may offer the opportunity to create an additional bedroom, loft/study and/or bathroom. Bring your ideas and imagine what this home could become! Outside, the extended lanai is all about enjoying the Florida lifestyle and those wide-open lake views. There’s even a large in-ground concrete spa for soaking, relaxing and taking it all in. And Shamrock Lake isn’t just a pretty view—it’s your gateway to adventure! Head out from your own backyard and explore Cape Coral’s connected freshwater lakes and canals, whether you’re fishing, kayaking, boating, bird watching or simply enjoying an afternoon playing on the water. Newer impact-glass windows add another valuable improvement, while electric roll-down Kevlar shutters protect your patio furniture and lanai. The two-car garage features a newer hurricane-reinforced garage door. Thanks to Hurricane Ian this lovely home has NEW vinyl siding, NEW gutters and a NEW 2024 dimensional-shingle roof. The home was repiped several years ago, the water heater is NEW in 2026 and the HVAC is approximately 10–11 years old. City water and sewer are IN AND PAID. Even better, the property is not located in a mandatory flood insurance zone and experienced no water intrusion from any storms. CAPE CORAL is known for its 400 miles of canals—more than any other city in the world—Cape Coral offers boating, fishing, kayaking, waterfront dining, golf, parks, recreation and sunshine in abundance. With easy access to Fort Myers, area beaches, airports and all that Southwest Florida has to offer, it’s easy to understand why so many people love calling the Cape home. Shamrock Lake is your playground to explore, you can fish, kayak, boat, bird watch or simply sit back and enjoy the view. Come for the LAKEFRONT LOT, stay for all the possibilities…and decide for yourself if this might just be Cape Coral’s ultimate BOGO!
Property details
- Type
- SingleFamilyResidence
- Year built
- 1988
- Interior
- 1,815 sqft
- Lot size
- 10,018.8 sqft
- Acreage
- 0.23 acres
- Garage
- 2 car
- Days on market
- 0
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $4,200/yr
- Flood zone (area est.)
- No · Low risk (X)
- Storm protection
- Impact Windows/Doors
- Exposure
- North
- Waterfront
- Yes
- Gulf access
- Yes
- Gulf access type
- Direct — no bridges
- Pool
- No
- Spa
- Yes
- Natural gas
- No
- Water
- Assessment Paid
- Sewer
- Assessment Paid
- New construction
- No
- Pets
- Yes
- County
- Lee
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 5 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 |
|---|---|---|---|---|---|
| 1220 Hancock Bridge Parkway | Sep 2025 | $373,000 | 3/2 | 1,761 | $212 |
| 623 SE 9th Place | Sep 2025 | $369,900 | 3/2 | 1,722 | $215 |
| 707 SE 9th Place | Apr 2026 | $334,600 | 3/2 | 1,711 | $196 |
| 1337 NE Van Loon Terrace | Aug 2026 | $346,000 | 3/2 | 1,713 | $202 |
| 703 SE 7th Street 2 | Jul 2026 | $295,000 | 3/2 | 1,892 | $156 |
| Average | 5 comps | $343,700 | $196 |
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.
The good, the trade-offs & the location
- Lower flood risk (zone X)
- Gulf access (Direct — no bridges)
- Storm protection: Impact Windows/Doors
- 2-car garage
- Built 1988 — pre-2002 construction may carry older wind codes and higher insurance
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.