$344,900
3 Bed Waterfront Home for Sale in Blue Water
174 Shadroe Cove Circle 1002, Cape Coral, FL, 33991
About this home
Why settle for ordinary when you can wake up to waterfront views? This beautifully maintained first-floor corner unit in the gated Blue Water community offers the Florida lifestyle you've been dreaming of—just minutes from open Gulf waters. Featuring 3 bedrooms, 2 baths, an attached 2-car garage, new impact-resistant windows (2025), crown molding, a spacious kitchen with stainless steel appliances, and an abundance of natural light, this home is as comfortable as it is beautiful. Relax while watching boats glide by, stroll the waterfront boardwalk, or enjoy the community clubhouse, pool, and tiki bar. Although this unit doesn't include a dock, one may be available through a private arrangement with another owner. Some homes simply have to be experienced in person—this is one of them. Schedule your private showing today and see why Blue Water is one of the area's most desirable waterfront communities. Seller is considering all reasonable offers.
Property details
- Type
- Condominium
- Year built
- 2006
- Interior
- 1,508 sqft
- Lot size
- 5,902.38 sqft
- Acreage
- 0.14 acres
- Garage
- 2 car
- Days on market
- 496
- Total association fees
- $9,660/yr (~$805/mo)
- CDD
- None
- Est. taxes (1.4%)
- $4,829/yr
- Flood zone (area est.)
- Yes · High risk (AE)
- Storm protection
- Impact Windows/Doors
- Exposure
- West
- Waterfront
- Yes
- Gulf access
- No
- Gulf access type
- N/A
- Pool
- No
- Spa
- No
- Natural gas
- No
- Water
- Assessment Paid
- Sewer
- Assessment Paid
- 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
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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Your notes on this home
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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 |
|---|---|---|---|---|---|
| 3601 SW 3rd Terrace | Feb 2026 | $340,000 | 3/2 | 1,417 | $240 |
| 212 NW 31st Place | Aug 2026 | $415,000 | 3/2 | 1,400 | $296 |
| 3531 SW 5th Street | May 2026 | $375,000 | 3/2 | 1,414 | $265 |
| 2837 NW 2nd Terrace | Apr 2026 | $265,000 | 3/2 | 1,684 | $157 |
| 2849 NW 3rd Street | Aug 2025 | $355,000 | 3/2 | 1,667 | $213 |
| 3801 SW 1st Lane | Sep 2025 | $350,000 | 3/2 | 1,586 | $221 |
| Average | 6 comps | $350,000 | $232 |
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 $105,100 (23.4%) from the original list price.
| May 23, 2026 | Price reducedfrom $369,900 | $344,900 |
| Sep 29, 2025 | Back on market | |
| Apr 18, 2025 | Listed | $450,000 |
The good, the trade-offs & the location
- Built 2006 — post-2002 Florida wind codes (typically lower insurance)
- Waterfront
- Storm protection: Impact Windows/Doors
- 2-car garage
- In a higher-risk flood zone (AE) — flood insurance likely required
- Higher association fees (~$9,660/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.
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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.