$550,000
3 Bed Pool Home for Sale in Cape Coral
138 SE 40th Street, Cape Coral, FL, 33904
About this home
Old Florida charmer w/character & today's updates! This home has all the function of new construction but with character and charm that is missing from new construction. Gulf access with a large wrap around dock & room for a large boat, it's a straight shot to the river. This move in ready home is concrete block construction build, an open concept, split floorplan, w/crown molding, wood cabinetry, granite counters, stainless steel appliances & a modern tile backsplash. Newer roof, brand NEW smart Air conditioner, impact windows, new paint inside & out. The updated bathrooms have granite counters, wood cabinetry & a shiplap wall. Plenty of closets for storage & an extended garage. The large impact sliders open to an under truss lanai that doubles your living space. Outdoor living at it's best! There is so much to do in your back yard! Fishing, boating, swimming, sunning, garden, cookouts, outdoor shower, outdoor TV, simply laying in your hammock & enjoying the peaceful quiet area or float on your raft & read a good book. The perfect place to relax alone or to entertain friends and enjoy the tropical weather. Dolphins & manatees have been seen from the dock. Explore the neighborhood waters by kayak, and see for yourself. By car there are at least 3 grocery stores within 3 minutes, 7 minutes to downtown Cape & some of the best dining in southwest Florida. Within 30 minutes to the BEST BEACHES in all of Southwest Florida! Sanibel & Captiva Islands, Ft. Myers Beach, Lover's Key beach, the list goes on. After your beach day wash your sandy toes in the outdoor shower near the large privacy plants! This home is meticulously maintained and cleaned by professionals for years! Move in ready, this home is truly loved & it shows! No work needed here, ALL IS DONE! Assessments in and paid for in full! Agents read remarks regarding show times/days.
Property details
- Type
- SingleFamilyResidence
- Year built
- 1965
- Interior
- 1,405 sqft
- Lot size
- 10,062.36 sqft
- Acreage
- 0.23 acres
- Garage
- 1 car
- Days on market
- 373
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $7,700/yr
- Flood zone (area est.)
- No · Low risk (X)
- Storm protection
- Impact Windows/Doors
- Exposure
- South
- Waterfront
- Yes
- Gulf access
- No
- Gulf access type
- N/A
- Pool
- Yes
- Spa
- No
- 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 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 |
|---|---|---|---|---|---|
| 102 SE 42nd Street | Jul 2026 | $450,000 | 3/2 | 1,441 | $312 |
| 118 SE 43rd Street | Jul 2026 | $510,000 | 3/2 | 1,464 | $348 |
| 3616 SW 1st Place | Aug 2026 | $425,000 | 3/2 | 1,413 | $301 |
| 4528 SE 1st Place | Jun 2026 | $425,000 | 2/2 | 1,374 | $309 |
| 4145 SW 5th Place | Mar 2026 | $465,000 | 2/2 | 1,393 | $334 |
| 726 SE 43rd Terrace | Dec 2025 | $480,000 | 3/2 | 1,325 | $362 |
| Average | 6 comps | $459,167 | $328 |
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 $115,000 (17.3%) from the original list price.
| May 22, 2026 | Price reducedfrom $575,000 | $550,000 |
| Aug 22, 2025 | Listed | $665,000 |
The good, the trade-offs & the location
- Lower flood risk (zone X)
- Private pool
- Waterfront
- Storm protection: Impact Windows/Doors
- Built 1965 — 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.