$420,000
3 Bed Waterfront Home for Sale in Cape Coral
233 SW 42nd Terrace, Cape Coral, FL, 33914
About this home
Exceptional opportunity to own the most attractively priced Gulf-access home on the water in the highly desirable Pelican area of Southwest Cape Coral. This move-in ready 3-bedroom, 2-bath, 2-car garage residence offers the perfect blend of comfort, character, and true Florida waterfront living. The updated kitchen showcases granite countertops and a striking backlit tin ceiling that replaced the original dome design, beautifully accented with oversized crown molding. Tile and wood flooring flow seamlessly throughout. The spacious 25’ x 13’ primary suite features two sets of French doors leading to the rear of the property, creating effortless indoor-outdoor living. The generously sized en-suite bath includes a large walk-in closet. For added peace of mind, the home is equipped with both manual and electric shutters, as well as a Culligan whole-home water system. NEW water heater installed 2026. Situated on an 80’ x 125’ lot, the property is framed by mature tropical landscaping and multiple varieties of palms, along with producing fruit trees including mango, Florida peach, kumquat, avocado, cherry, and coconut. Boating enthusiasts will appreciate the 12,000 lb boat lift, outdoor shower, and Gulf access. The boat is negotiable and may convey with the sale. With assessments paid in full, this property represents outstanding value in one of Cape Coral’s most sought-after waterfront neighborhoods. Schedule your private showing today and start enjoying the Southwest Florida boating lifestyle.
Property details
- Type
- SingleFamilyResidence
- Year built
- 1989
- Interior
- 1,721 sqft
- Lot size
- 10,018.8 sqft
- Acreage
- 0.23 acres
- Garage
- 2 car
- Days on market
- 132
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $5,880/yr
- Flood zone (area est.)
- Yes · High risk (AE)
- Storm protection
- None listed
- Exposure
- North
- Waterfront
- Yes
- Gulf access
- Yes
- Gulf access type
- Direct — no bridges
- Pool
- No
- Spa
- No
- Natural gas
- No
- Water
- Assessment Paid
- Sewer
- Assessment Paid
- New construction
- No
- Pets
- Yes
- County
- Lee
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 4 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 |
|---|---|---|---|---|---|
| 4305 SW 1st Avenue | May 2026 | $380,000 | 3/2 | 1,745 | $218 |
| 245 SW 44th Terrace | Jul 2026 | $380,000 | 4/2 | 1,818 | $209 |
| 3931 Pelican Boulevard | Jan 2026 | $450,000 | 3/2 | 1,921 | $234 |
| 238 SW 45th Terrace | Aug 2026 | $455,000 | 3/2 | 1,920 | $237 |
| Average | 4 comps | $416,250 | $225 |
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 $80,000 (17%) from the original list price.
| Jul 31, 2026 | Sold | $390,000 |
| Jun 1, 2026 | Price reducedfrom $435,000 | $420,000 |
| Feb 18, 2026 | Listed | $470,000 |
The good, the trade-offs & the location
- Gulf access (Direct — no bridges)
- 2-car garage
- Built 1989 — pre-2002 construction may carry older wind codes and higher insurance
- In a higher-risk flood zone (AE) — flood insurance likely required
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
$479,000
MLS# 20260271291629 SE 12th Street, Cape Coral, FL, 33990
$400,000
MLS# 2260263134025 SE 19th Place 209, Cape Coral, FL, 33904
$359,999
MLS# 2260207164622 SW 12th Place 124, Cape Coral, FL, 33914
$380,000
MLS# 20260267831435 SE 14th Street, Cape Coral, FL, 33990
$369,900
MLS# 20260309881789 Four Mile Cove Parkway 545, Cape Coral, FL, 33990
$464,000
MLS# 20260084215706 Cape Harbour Drive 211, Cape Coral, FL, 33914
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.