$710,000
4 Bed 3 Bath Waterfront Condominium for Sale in CAPE CORAL, FL
1903 SE 40th Terrace 104, Cape Coral, FL, 33904
About this home
A piece of paradise! This gorgeous 2 story penthouse is a rare gem to find in cape coral. Great for the avid boater, fisherman, or just for you to enjoy luxury maintenance free living. This exquisite waterfront residence offers an unparalleled living with Direct Gulf Access, just 100 yards from the river. Breathtaking views through 23-foot floor-to-ceiling impact-resistant windows that frame two 200-foot intersecting canals right in your backyard. Endless entertainment from your private screened in balcony. Relax and watch dolphins play, manatees graze, boats cruising by chasing the beautiful Florida sunsets. Every inch of this home was tastefully remodeled over the years. The oversized kitchen is a culinary masterpiece, adorned with quartz countertops, designer tile, and premium soft close cabinetry, seamlessly flowing into a sophisticated breakfast bar. The residence is graced with a host of luxurious amenities, including a handmade 23ft tall natural stone fireplace, luxury vinal flooring, wet bar, custom floor-to-ceiling drapes, remote shades, illuminated captains walk and fishing pier. The community offers a heated pool with serene canal views, fishing pier, and for boating enthusiasts, a deeded boat lift awaits, along with your personal private garage, plus an abundance of guest parking. Enjoy a leisurely lifestyle with boating facilities that complement this unique offering. Experience Cape Coral's finest living in a home that is truly one-of-a-kind in an exceptional location for a vibrant lifestyle, 1 mile to downtown cape coral loaded with local restaurants, annual festivities and city-organized events. Motivated sellers with financing available at 4.75% interest.
Property details
- Type
- Condominium
- Year built
- 1981
- Interior
- 2,305 sqft
- Lot size
- 4,412.628 sqft
- Acreage
- 0.10 acres
- Garage
- 1 car
- Days on market
- 159
- Total association fees
- $10,416/yr (~$868/mo)
- CDD
- None
- Est. taxes (1.4%)
- $9,940/yr
- Flood zone (area est.)
- Yes · High risk (AE)
- Storm protection
- Impact Windows/Doors
- Exposure
- North
- 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 7 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 |
|---|---|---|---|---|---|
| 4309 SE 18th Place | Oct 2025 | $820,000 | 3/2 | 2,273 | $361 |
| 1816 SE 36th Terrace | Apr 2026 | $725,000 | 3/2 | 2,107 | $344 |
| 3510 SE 19th Avenue | May 2026 | $850,000 | 3/2 | 2,327 | $365 |
| 3514 SE 17th Place | Oct 2025 | $700,000 | 3/2 | 2,136 | $328 |
| 4002 SE 12th Avenue | Dec 2025 | $675,000 | 3/3 | 2,408 | $280 |
| 1939 Palaco Grande Parkway | Apr 2026 | $875,000 | 4/3 | 2,478 | $353 |
| Average | 6 comps | $774,167 | $339 |
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 $40,000 (5.4%) from the original list price.
| May 26, 2026 | Sold | $700,000 |
| Jun 12, 2025 | Price reducedfrom $720,000 | $710,000 |
| Feb 24, 2025 | Listed | $740,000 |
The good, the trade-offs & the location
- Waterfront
- Storm protection: Impact Windows/Doors
- Built 1981 — pre-2002 construction may carry older wind codes and higher insurance
- In a higher-risk flood zone (AE) — flood insurance likely required
- Higher association fees (~$10,416/yr)
- 55+ age-restricted community
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.