$285,000
3 Bed Waterfront Home for Sale in Cape Coral
3620 NW 38th Terrace, Cape Coral, FL, 33993
About this home
APPROVED SHORT SALE!!!! Opportunity to own a newer home on a freshwater canal in a convenient Cape Coral location. Built in 2022, this well-designed residence offers a flowing floorplan with 3 bedrooms plus a den, 2 baths, and a 2-car garage. The home appears to be in excellent condition overall, with only minor cosmetic refreshing needed such as cleaning and possible interior paint. Enjoy canal views and the added privacy of waterfront living, while still being close to shopping, dining, and major roadways. A functional layout and newer construction make this property well suited for owner-occupants or investors seeking value in a growing area. Agents: please review all private remarks prior to scheduling a showing.
Property details
- Type
- SingleFamilyResidence
- Year built
- 2022
- Interior
- 1,680 sqft
- Lot size
- 10,018.8 sqft
- Acreage
- 0.23 acres
- Garage
- 2 car
- Days on market
- 110
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $3,990/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
- No
- Spa
- No
- Natural gas
- No
- Water
- Well
- Sewer
- Septic Tank
- 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 4 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 |
|---|---|---|---|---|---|
| 4111 NW 36th Lane | Jun 2026 | $346,000 | 3/2 | 1,864 | $186 |
| 4166 NW 39th Avenue | Nov 2025 | $278,400 | 3/2 | 1,580 | $176 |
| 4306 NW 35th Street | May 2026 | $355,000 | 4/2 | 1,831 | $194 |
| 4219 NW 33rd Lane | Oct 2025 | $250,000 | 4/2 | 1,712 | $146 |
| Average | 4 comps | $307,350 | $176 |
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 $4,900 (1.7%) from the original list price.
| Jun 16, 2026 | Price reducedfrom $220,000 | $285,000 |
| Jun 16, 2026 | Back on market | |
| Feb 5, 2026 | Listed | $289,900 |
The good, the trade-offs & the location
- Built 2022 — post-2002 Florida wind codes (typically lower insurance)
- 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.