Cape Coral Canal-Front Home Built in 2023 Offers an Auction Opportunity
A newer home in Cape Coral, Florida, is attracting attention as a bank-owned foreclosure auction property. Located at 514 NE 5th Place, this single-story residence features three bedrooms, two full bathrooms, approximately 1,502 square feet of living space, and an attached two-car garage.
Built in 2023, the home sits on a lot of approximately 0.23 acres and backs onto a freshwater canal. The property combines a modern construction date with waterfront surroundings, creating an interesting opportunity for buyers following foreclosure auctions in Southwest Florida.
A Modern Three-Bedroom Layout
The home features three bedrooms and two bathrooms arranged across a single-story floor plan. The primary bedroom includes an en-suite bathroom, while the two additional bedrooms share a second bathroom.
The interior has tile flooring, and the home includes a kitchen and living area designed for everyday use. Public listing information indicates that the property has no heating or air-conditioning system currently listed, so buyers should independently verify the status of these systems and budget for any installations or upgrades that may be needed.
Built with a stucco exterior, a shingle roof, and a slab foundation, the home has the construction characteristics of a relatively recent Florida residence. However, its current condition must be evaluated in light of the auction terms.
Freshwater Canal Views and Outdoor Space
One of the property’s standout features is its location along a freshwater canal. The backyard patio overlooks the canal, creating an outdoor setting for relaxing or enjoying the surrounding landscape.
The lot measures approximately 10,019 square feet, offering additional yard space around the house. The property also has an attached two-car garage, providing covered parking and storage potential.
The canal frontage may appeal to buyers who appreciate waterfront surroundings, but prospective purchasers should verify water access, permitted waterfront uses, drainage, flood information, and any applicable restrictions before bidding.
Understanding the Foreclosure Auction
The property is being marketed as a bank-owned auction home. The advertised list price is not necessarily the seller’s final reserve price, and the final purchase amount may be determined through competitive bidding.
The listing states that the home is sold as-is and includes restrictions on inspections and contact with occupants. Buyers should carefully review the auction provider’s terms, confirm whether inspections are permitted under the current rules, and understand all deposits, fees, deadlines, and closing requirements before participating.
Some listing information has shown an opening price of $100,000, while another auction-related listing displayed a substantially lower figure. These are auction-related asking or starting amounts, not confirmed final sale prices. The auction status and current bidding terms should be verified directly with the auction provider.
Property Details
- Location: 514 NE 5th Place, Cape Coral, Florida 33909
- Property Type: Single-family residence
- Bedrooms: 3
- Bathrooms: 2 full bathrooms
- Living Area: Approximately 1,502 square feet
- Lot Size: Approximately 0.23 acres
- Year Built: 2023
- Stories: One
- Waterfront: Freshwater canal
- Outdoor Feature: Patio overlooking the canal
- Parking: Attached two-car garage
- Interior Flooring: Tile
- Exterior: Stucco
- Roof: Shingle
- Utilities: Public water and public sewer
- Sale Type: Bank-owned foreclosure auction
- Condition: Sold as-is, subject to auction terms
This Cape Coral property offers a combination of newer construction, a three-bedroom layout, canal frontage, and a two-car garage. For buyers considering an auction purchase, the key is to investigate the property’s current condition and understand the bidding process, fees, and restrictions before committing.
Listed on Zillow