3717 40th St SW · Lehigh Acres, FL 33976

$264,097

3 bd · 2.0 ba · 1,487 sqft · Land · 3 Days on market

Built 2026 10,759 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks MLS

Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $264k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (19.3% below list).
• Recommended offer: $213k (19.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#826 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, schools D-.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.5%/yr); 786 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 35% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $196k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,021 (19.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.65%
• Cash-on-cash: -2.31%
• DSCR: 0.90
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.74×
• Total profit: $128,564
• Equity at exit: $237,920

10-year hold

• IRR: 18.9%
• Equity multiple: 6.07×
• Total profit: $374,610
• Equity at exit: $513,082

Cash invested: $73,947 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33976

• Home prices YoY: 6.8%
• Rents YoY: -1.5%
• Active inventory: 786
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,130 high
• Mortgage (P&I): −$1,385
• Tax est. 1.5%: −$330 /mo · $3,961/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $-142

Break-even live

Break-even rent $2,310

Max offer price $243,514

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $66,024
• Closing costs: $7,923
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3802 35th St SW Lehigh Acres, FL	3.0	2.0	1269	$1,640	$1.29	23d	1	0.37mi
4020 36th St SW Lehigh Acres, FL	3.0	2.0	1354	$2,050	$1.51	23d	1	0.62mi
2904 Wanda Ave S Lehigh Acres, FL	3.0	2.0	1501	$1,900	$1.27	23d	1	0.65mi
3313 36th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,300	$1.33	23d	1	0.67mi
4101 33rd St SW Lehigh Acres, FL	3.0	2.0	1698	$2,200	$1.30	14d	1	0.72mi
3604 29th St SW Lehigh Acres, FL	3.0	2.5	1776	$2,500	$1.41	23d	1	0.74mi
4021 28th St SW Lehigh Acres, FL	3.0	2.0	1529	$1,800	$1.18	23d	1	0.88mi
2504 Vera Ave S Lehigh Acres, FL	3.0	3.0	1643	$2,400	$1.46	23d	1	0.90mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	3d	1	0.95mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	2d	1	0.95mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	3d	1	0.98mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	15d	1	0.98mi
3102 39th St SW Lehigh Acres, FL	3.0	2.0	1097	$1,630	$1.49	21d	1	1.07mi
3201 29th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,950	$1.06	3d	1	1.11mi
3201 28th St Lehigh Acres, FL	4.0	2.0	1389	$2,000	$1.44	3d	1	1.15mi
4001 22nd St SW Lehigh Acres, FL	3.0	2.0	1055	$1,950	$1.85	2d	1	1.16mi
3012 40th St SW Lehigh Acres, FL	3.0	2.0	1427	$1,950	$1.37	23d	1	1.20mi
4702 Loraine Ave S Lehigh Acres, FL	3.0	2.0	1354	$2,000	$1.48	14d	1	1.24mi
4203 23rd St SW Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	19d	1	1.27mi
3203 24th St SW Lehigh Acres, FL	3.0	2.0	1498	$2,300	$1.54	21d	1	1.31mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,960	$1.40	3d	1	1.33mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,930	$1.38	1d	1	1.33mi
1101 Meadow Rd Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	23d	1	1.33mi
1103 Meadow Rd Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	23d	1	1.33mi
3600 19th St SW Lehigh Acres, FL	3.0	2.0	1114	$1,746	$1.57	3d	1	1.35mi
3201 23rd St SW Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	21d	1	1.36mi
3001 37th St SW Lehigh Acres, FL	3.0	2.5	1235	$1,705	$1.38	23d	1	1.40mi
3714 17th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,890	$1.03	23d	1	1.44mi
14158 Gardeners Way Fort Myers, FL	3.0	2.5	1871	$2,600	$1.39	2d	1	1.45mi
4412 25th St SW Lehigh Acres, FL	3.0	2.0	1205	$1,700	$1.41	21d	1	1.45mi
2911 48th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,200	$1.28	10d	1	1.47mi
4421 25th St SW Lehigh Acres, FL	3.0	2.0	1253	$1,250	$1.00	10d	1	1.48mi
3209 21st St SW Lehigh Acres, FL	3.0	2.0	1418	$1,699	$1.20	2d	1	1.48mi

Listing history 11 events

1. 2026-04-20
   status Pending
2. 2026-04-17
   listed $264,097 Active
3. 2025-09-17
   soldstatus $196,000
4. 2021-09-29
   soldstatus $60,000
5. 2021-09-27
   soldstatus $14,000 Closed 153-char remark

   Show marketing remark (153 chars)

   Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

6. 2021-08-25
   status Pending 153-char remark

   Show marketing remark (153 chars)

   Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

7. 2021-08-23
   price $17,500 153-char remark

   Show marketing remark (153 chars)

   Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

8. 2021-08-12
   price $18,400 153-char remark

   Show marketing remark (153 chars)

   Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

9. 2021-08-02
   price $18,900 153-char remark

   Show marketing remark (153 chars)

   Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

10. 2021-07-09
    listed $19,900 Active 153-char remark

    Show marketing remark (153 chars)

    Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

11. 2021-07-09
    soldstatus $8,900

    Show marketing remark (153 chars)

    Build your dream home, investment, or build to rent investment property! Please inquire for more information. Agents, please read confidential comments.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,563
• − Mortgage interest: −$14,794
• − Property taxes: −$3,961
• − Insurance: −$1,320
• − Repairs & maintenance: −$2,045
• − Management: −$2,045
• − Depreciation: −$7,683
• Taxable loss: −$6,286
• Est. tax savings @ 24.0%: +$1,509
• After-tax cash flow: $-198/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Lehigh Acres

• Score: 59/100
• State rank: #826
• US rank: #20055

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety D- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lehigh Acres, FL
• County: Lee County · 788,662 people
• City population: 130,638
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 20,277
• Household income: $72,679
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 574.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 50% Two or more races 30% White 24% Black 20% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 8% Cuban 18% Dominican 4%
• Common ancestry: Hispanic 8% Slovak 1% Lithuanian 1%
• Foreign-born: 35% · Canada, Jamaica, Vietnam
• Languages at home: 46% English-only · Spanish 43% French/Haitian/Cajun 8% Vietnamese 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.77%
• Current HPI: 340.4255
• Rent YoY: ▼ -1.54%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+1227.1% since first listed

11 events — show timeline

• 2026-04-20 Pending — NAPLESMLS
• 2026-04-17 Listed $264,097 NAPLESMLS
• 2025-09-17 Sold (Public Records) $196,000 Public Records
• 2021-09-29 Sold (Public Records) $60,000 Public Records
• 2021-09-27 Sold (MLS) $14,000 FORTMLS
• 2021-08-25 Pending — FORTMLS
• 2021-08-23 Price Changed $17,500 FORTMLS
• 2021-08-12 Price Changed $18,400 FORTMLS
• 2021-08-02 Price Changed $18,900 FORTMLS
• 2021-07-09 Sold (Public Records) $8,900 Public Records
• 2021-07-09 Listed $19,900 FORTMLS

Property tax history

+18.4%/yr

Latest (2025): $468 · +10.4% YoY. Source: county tax records.