$425,000
2 Bed Waterfront Home for Sale in Sanibel
601 Periwinkle Way D5, Sanibel, FL, 33957
About this home
This beautifully updated 2-bedroom condo at Captains Walk is perfectly situated on Sanibel Island’s highly desirable east end! Enjoy easy on/off island access, proximity to beaches and restaurants, and a quiet residential feel. This elevated, top-floor corner unit features a private lanai, tile flooring, and a modern kitchen with stainless steel appliances and high-quality finishes. Relax on your lanai while watching island birds, rabbits, and passersby along the shared-use path, or head to the private dock for kayaking through serene canals and out to San Carlos Bay. Structural inspections and repairs have been completed in the complex, ensuring durability for another 50 years. Captains Walk offers covered parking, two community docks, and a soon-to-be-rebuilt community laundry room. Monthly rentals are allowed, creating a true island community feel. Just a short distance from the Sanibel Lighthouse, Grandma Dot’s, and Gulf beaches, this condo is the ultimate island retreat!
Property details
- Type
- Condominium
- Year built
- 1971
- Interior
- 850 sqft
- Lot size
- 3,280.068 sqft
- Acreage
- 0.08 acres
- Garage
- None
- Days on market
- 271
- Total association fees
- $11,712/yr (~$976/mo)
- CDD
- None
- Est. taxes (1.4%)
- $5,950/yr
- Flood zone (area est.)
- Not available
- Storm protection
- Impact Windows/Doors
- Exposure
- West
- Waterfront
- Yes
- Gulf access
- Yes
- Gulf access type
- Direct — no bridges
- 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
Based on the $/sqft of 3 comparable homes sold nearby in the last 12 months. Indicative, not an appraisal.
Seeing several homes? Build a tour and we'll route it for you.
Your notes on this home
Keep private notes on this home, what you love, what to ask about, saved to your account and shared with your agent.
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 |
|---|---|---|---|---|---|
| 827 E Gulf Drive K2 | Jun 2026 | $450,000 | 2/2 | 967 | $465 |
| 845 E Gulf Drive 232 | Jun 2026 | $470,000 | 2/2 | 983 | $478 |
| 845 E Gulf Drive 822 | Oct 2025 | $505,000 | 2/2 | 981 | $515 |
| Average | 3 comps | $475,000 | $486 |
Market trends, Sanibel
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
- Gulf access (Direct — no bridges)
- Storm protection: Impact Windows/Doors
- Built 1971 — pre-2002 construction may carry older wind codes and higher insurance
- No garage listed
- Higher association fees (~$11,712/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.
Similar homes nearby
$360,000
MLS# 2026003362200 Estero Boulevard 207, Fort Myers Beach, FL, 33931
$345,000
MLS# 20260248411250 Tennisplace Court E22, Sanibel, FL, 33957
$499,000
MLS# 2026033834760 Sextant Drive 722, Sanibel, FL, 33957
$480,000
MLS# 2250500762255 W Gulf Drive 140, Sanibel, FL, 33957
$489,000
MLS# 22601367115031 Punta Rassa Road 403, Fort Myers, FL, 33908
$485,000
MLS# 2025018375200 Estero Boulevard 206, Fort Myers Beach, FL, 33931
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.