$650,000
3 Bed 2 Bath Pool Waterfront SingleFamilyResidence for Sale in CAPE CORAL, FL
116 SW 38th Terrace, Cape Coral, FL, 33914
About this home
BOATER’S PARADISE – PRIME LOCATION WITH GULF ACCESS! If boating, waterfront living, and breathtaking sunsets are what you’re after, this home delivers the ultimate Florida lifestyle! Located in a highly sought-after boating community, this property offers quick and easy access to open waters—no long idle times, just hop on your boat and go! After a day of cruising, fishing, or exploring nearby beaches, return to your own outdoor oasis. Take a dip in the heated saltwater pool while watching dolphins and manatees glide by, then relax with a cocktail under the expansive tiki hut as the sun sets over the water. Inside, this stunningly renovated home is just as impressive. The open living, dining, and kitchen areas are beautifully updated, with brand-new flooring, baseboards, and fresh paint in 2023. The chef’s kitchen features a sleek new stove with a built-in air fryer, making cooking a breeze. The spacious master suite is a true sanctuary, complete with a cozy sitting area overlooking the lanai—ideal for unwinding after a day on the water. With a split-bedroom floor plan, your guests can enjoy complete privacy in the two additional bedrooms on the opposite side of the home. Meticulously maintained and updated, this home boasts: NEW HVAC, pool, and hot water heater (2021) NEW roof and tiki hut roof (2022) NEW black iron fence, flooring, baseboards, and paint (2023) Whether you’re searching for a full-time waterfront residence, a seasonal escape, or a lucrative investment property, this home checks every box. Move-in ready and waiting for you—start living your boating dream today!
Property details
- Type
- SingleFamilyResidence
- Year built
- 2004
- Interior
- 1,784 sqft
- Lot size
- 10,018.8 sqft
- Acreage
- 0.23 acres
- Garage
- 2 car
- Days on market
- 258
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $9,100/yr
- Flood zone (area est.)
- Yes · High risk (AE)
- Storm protection
- None listed
- 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 11 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 |
|---|---|---|---|---|---|
| 109 SE 40th Terrace | Apr 2026 | $660,000 | 3/2 | 1,921 | $344 |
| 3701 SW 2nd Avenue | Sep 2025 | $625,000 | 3/2 | 1,897 | $329 |
| 3810 SE 1st Place | Jul 2026 | $585,000 | 3/2 | 1,685 | $347 |
| 4104 SW 1st Place | Feb 2026 | $529,000 | 3/2 | 1,758 | $301 |
| 3528 SE 1st Place | Nov 2025 | $599,000 | 3/2 | 1,698 | $353 |
| 4026 SE 3rd Avenue | Feb 2026 | $530,000 | 3/3 | 1,837 | $289 |
| Average | 6 comps | $588,000 | $327 |
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 $108,000 (15.7%) from the original list price.
| Sep 23, 2025 | Sold | $582,000 |
| Aug 21, 2025 | Price reducedfrom $690,000 | $650,000 |
| Dec 11, 2024 | Listed | $690,000 |
The good, the trade-offs & the location
- Built 2004 — post-2002 Florida wind codes (typically lower insurance)
- Private pool
- Waterfront
- 2-car garage
- 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.
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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.