Blue Water Homes under $500,000

Blue Water Homes under $500,000

Welcome to Blue Water, an enchanting development nestled in the heart of Cape Coral, Florida, where the sun shines bright and the waterways beckon. This vibrant community is not just a place to live; it's a lifestyle that embraces the beauty of Florida's natural surroundings while offering modern conveniences and a welcoming atmosphere.

At Blue Water, you'll discover an array of charming homes, all thoughtfully designed to cater to your needs without breaking the bank. With properties available for under $500,000, this development offers an incredible opportunity for first-time homebuyers, families, and retirees alike. Each home features contemporary designs, spacious layouts, and energy-efficient amenities, ensuring comfort and tranquility for all residents.

Cape Coral is renowned for its extensive canal system, providing residents with easy access to boating, fishing, and a plethora of water activities. Imagine starting your day with a peaceful sunrise over the water or enjoying a leisurely afternoon exploring the numerous parks and recreational facilities nearby. The community is also conveniently located near shopping, dining, and entertainment options, making it easy to enjoy everything this beautiful city has to offer.

Whether you’re seeking a cozy retreat or a vibrant family home, Blue Water in Cape Coral promises a perfect blend of affordability, comfort, and community spirit. Come and experience the charm of Blue Water—where your dream home awaits in sunny Florida!

Newest Blue Water Homes under $500,000

221 Shadroe Cove Circle Unit 1303, Cape Coral
$464,900
3 Beds ⋅ 3 Baths ⋅ 2026038655 MLS
BOATER’S PARADISE in the prestigious, gated BLUEWATER COACH HOMES community! This spacious CORNER RESIDENCE offers nearly 2,400 SQ. FT. of living area with 3 BEDROOMS + DEN, 2.5 BATHS, an EXTENDED PRIVATE 2-CAR GARAGE and PRIVATE 2-CAR DRIVEWAY. Overlooking a beautiful pond and fountain, this residence combines generous living space, extensive upgrades and an exceptional Southwest Florida boating lifestyle. For the boating enthusiast, a TRANSFERABLE LEASE for PRIVATE BOAT LIFT #2C is available, featuring a 5,000-LB LIFT and approximately 15-MINUTE ACCESS TO THE GULF and world-class inshore fishing. The lift lease is $2,700 annually, and the FIRST YEAR’S LEASE IS INCLUDED WITH PURCHASE. Inside, the UPDATED KITCHEN features custom cabinetry, breakfast bar and a separate breakfast nook. The expansive primary suite offers TWO WALK-IN CLOSETS and a beautifully UPDATED EN-SUITE BATH with dual vanities, separate walk-in shower and soaking tub. One guest bedroom features a convenient MURPHY BED. A WET BAR with WINE REFRIGERATOR and ICE MAKER makes entertaining easy. Enjoy the LARGE TILED SCREENED LANAI with northern exposure, providing a comfortable shaded outdoor living area throughout the year. Additional upgrades include NEW HURRICANE-RATED IMPACT WINDOWS IN 2025, accordion hurricane shutters protecting the lanai sliders, NEW A/C IN 2026 and NEW WATER HEATER IN 2022. The residence is also ELEVATOR READY with a pre-engineered location within the unit for future installation. Furniture is negotiable. Bluewater Coach Homes is an intimate community of only 56 RESIDENCES featuring lush tropical landscaping and NEW TILE ROOFS IN 2024. Resort-style amenities include a CLUBHOUSE with community room and kitchen, HEATED POOL, separate HEATED SPA, FITNESS ROOM, waterfront BOARDWALK and a LARGE TIKI HUT—the perfect place to relax and enjoy an evening sunset by the water. The association is well funded with approximately $3 MILLION IN RESERVES. HOA fees include BUILDING INSURANCE, BUILDING FLOOD INSURANCE, complete lawn care, CITY WATER & SEWER and community amenities. No residence in Bluewater Coach Homes has ever flooded. PET FRIENDLY with one pet permitted up to 80 lbs. RENTAL FRIENDLY with a 30-day minimum rental period. Located just minutes from MATLACHA PASS and some of Southwest Florida’s best boating, fishing and waterfront dining, including Miceli’s, Tarpon Lodge and Blue Dog Bar & Grill. Whether you’re looking for a seasonal retreat or full-time Florida residence, this exceptional coach home delivers SPACE, PRIVACY, BOATING ACCESS and the SOUTHWEST FLORIDA LIFESTYLE.

221 Shadroe Cove Circle Unit 1303, Cape Coral
182 Shadroe Cove Circle Unit 802, Cape Coral
$469,900
3 Beds ⋅ 2 Baths ⋅ 2026037604 MLS
Mainfloor Condo at Bluewater Coach Homes: Deeded, Private 10k Boat lift included. Just one bridge, and then the North Spreader Canal, Matlacha Pass, and the Gulf a short boat ride away. A perfect home for a serious fisherman. Beautiful, long range views across Shadroe Lake... watch the Tarpon roll in the summer and the Manatees in the winter. Three bedrooms, two baths, granite counters and hardwood cabinetry in the kitchen and both baths, a tiled backsplash, recessed lighting and stainless steel appliances. The primary suite has a soaking tub, walk-in shower, and a large walk-in closet. Laundry room with cabinets and additional pantry, oversized two-car garage and wired for EV charging. Built for the Florida weather: hurricane-rated glass windows installed 2025, additional accordion shutters for extra protection. ALL New A/C in 2025. Bluewater Coach Homes is a gated community of 56 homes with new tile roofs, a clubhouse, heated pool and spa, exercise room, and a huge tiki hut at the end of the boardwalk. This community is dog friendly! No home here has ever flooded! HOA covers building and flood insurance, lawn care, water and sewer, and amenities. 36 docks for 56 homes — the dock/lift and view give this unit the value.  Schedule a preview and bring your boat shoes.

182 Shadroe Cove Circle Unit 802, Cape Coral
175 Shadroe Cove Circle Unit 1101, Cape Coral
$479,000
3 Beds ⋅ 2 Baths ⋅ 2026032904 MLS
Beautifully remodeled condo located in a highly preferred gated community well known for great boating access to open water, as well as easy access by car to stores, restaurants, and everywhere. The highly desired Blue Water Gulf Access community is known for luxury and carefree Florida living, and has a reputation for excellent financial health. This first-floor coach home is completely remodeled with high end, designer finishes, creating a truly one-of-a-kind residence. Offering 3 bedrms & 2 full baths, the open-concept plan is bright, spacious, and ideal for entertaining or relaxing. Expansive sliding glass doors seamlessly connect living and dining areas to the oversized screened lanai, creating an inviting indoor-outdoor living space with peaceful views of the large lake and illuminated fountain. No boat dock with this unit; however several docks are available to rent only to Blue Water residents, providing quick access to open water. The chef's kitchen is designed for both everyday living and entertaining, featuring custom cabinetry, quartz countertops, stainless steel appliances, and oversized island where guests can gather while meals are prepared. The owner's suite offers a spa-inspired retreat with an exceptional walk-in shower with both rainfall & body spray systems. Additional upscale features include soaring 10-ft ceilings, 8-ft interior doors, crown molding, plantation shutters, and high-end flooring throughout that combines the warmth of natural wood with easy maintenance. A rare feature is this home's attached private driveway, providing the convenience and privacy typically only at single-family homes. Guests can park directly in front of the home without long walks from guest parking. The oversized 2-car garage offers abundant storage and the perfect space for hobbies or workshop. Residents enjoy outstanding resort-style amenities, including a clubhouse with a fitness center, heated pool, and spa. The impressive waterfront tiki pavilion overlooks scenic Shadroe Lake, where dolphins and manatees are frequent visitors and spectacular sunsets become part of everyday life. A picturesque waterfront boardwalk and lush tropical landscaping further enhance your lifestyle. The community’s location provides convenient access to shopping, dining, I-75, and walking and biking paths that connect directly to one of Cape Coral's premier parks featuring pickleball, tennis courts, playgrounds, walking trails, and additional recreational amenities. Even better, all city utility assessments have been paid, new tile roof 2025 and new impact windows 2025. There has been NO flood or rainwater intrusion. Whether you're looking for a full-time residence, seasonal retreat, or boater's paradise, this exceptional waterfront home offers luxury, convenience, and low-maintenance living in one of Cape Coral's most desirable Gulf access communities. Start living the Southwest Florida lifestyle you've always imagined—because here, it's all about the water.

175 Shadroe Cove Circle Unit 1101, Cape Coral
174 Shadroe Cove Circle Unit 1002, Cape Coral
$329,000
3 Beds ⋅ 2 Baths ⋅ 225039135 MLS
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.

174 Shadroe Cove Circle Unit 1002, Cape Coral
Start Your Search

How much is your home worth?

Get instant property value now!