228/230 Homer Ave S · Lehigh Acres, FL 33973

$380,000

6 bd · 4.0 ba · 2,344 sqft · MultiFamily · 35 Days on market

Built 2005 Good condition 0.29 ac lot Est $546k · 30% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Appreciation +0.8/10.0
• Rent growth +0.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

New Investment Opportunity- Well maintained duplex for sale located in Lehigh Acres Fl, high demand area for rentals, near schools, major roads, stores and restaurants. New Roof 2026, freshly painted on the exterior and inside one of the unit, well equipped kitchen and new flooring on one of the unit while the other is already producing income offering solid opportunity for investors or owner occupants looking to add value. Each unit features a functional layout with comfortable living spaces and private entrances. This duplex presents excellent potential for cash flow and long-term appreciation. Schedule your visit today!

Key facts

• High demand area
• New flooring
• Private entrances

Tags

• HIGH DEMAND AREA
• NEW ROOF
• WELL EQUIPPED KITCHEN
• NEW FLOORING
• PRIVATE ENTRANCES
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other: Tenant is responsible for application fee, electricity, grounds care, internet and telephone
• Financial info: Two-unit property with gross scheduled income shown as $1,600 and gross income $3,200; Operating expenses listed at $500; One unit currently shows actual/pro forma rent of $1,600; Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Each unit has an attached 1-car garage (2 attached garages total)
• Security: Smoke detectors
• Utilities: Septic tank; Well water; Cable not available
• Home design: Duplex (2 units); Resale property; Zoned RM-2
• Construction: Built with block and concrete, stucco exterior; Shingle roof
• Exterior features: Patio; Rectangular lot on a dead-end paved road; Lot dimensions approximately 98 x 123

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two 3-bedroom units (each includes a Florida room)
• Flooring: Tile; Vinyl
• Bathrooms: Each unit has 2 full bathrooms (4 full bathrooms total)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single-hung windows
• Laundry & utility: Water softener (owned); Smoke detector

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $380k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $16 ($197/yr) — positive. Per door: $8/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $334k (12.0% below list).
• Recommended offer: $334k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.7% in Lehigh Acres — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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+, amenities F.
• 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.
• Zoned schools: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents falling (-7.0%/yr); 295 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,345/mo this rent would consume 66% of the median local household income ($61k/yr) (locally 1142% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($369k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $334,500 (12.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $546,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Ichabod Ave S	0.08mi	6/4.0	2,360 (+1%)	9mo	$550,000	$233	87
713-715 Homer Ave S #719	0.24mi	6/4.0	2,360 (+1%)	18mo	$549,900	$233	72
725/727 Ivan Ave S	0.30mi	6/4.0	2,316 (-1%)	15mo	$425,000	$184	72
312-314 Harry Ave S	0.13mi	6/4.0	2,392 (+2%)	23mo	$549,900	$230	72
316-318 Harry Ave S	0.13mi	6/4.0	2,392 (+2%)	23mo	$549,900	$230	71
133-135 Hightower Ave S	0.17mi	6/4.0	2,392 (+2%)	22mo	$554,900	$232	70
1116 Harold Ave S	0.53mi	6/4.0	2,360 (+1%)	9mo	$550,000	$233	67
1121-1123 Harry Ave S	0.54mi	6/4.0	2,364 (+1%)	10mo	$549,900	$233	65
4738-4740 Douglas Ln	0.46mi	6/4.0	2,396 (+2%)	13mo	$565,000	$236	64
724 Jenna Ave S	0.40mi	6/4.0	2,238 (-4%)	20mo	$449,000	$201	57
1141-1143 Ichabod Ave S	0.61mi	6/4.0	2,390 (+2%)	22mo	$562,000	$235	50
1501-1503 Hightower Ave S	0.70mi	6/4.0	2,392 (+2%)	23mo	$549,900	$230	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.34×
• Total profit: $-70,281
• Equity at exit: $56,659

10-year hold

• IRR: -20.1%
• Equity multiple: 0.08×
• Total profit: $-97,529
• Equity at exit: $32,855

Cash invested: $106,400 (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 33973

• Home prices YoY: -3.4%
• Rents YoY: -7.0%
• Active inventory: 295
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,345 high
• Mortgage (P&I): −$1,993
• Tax est. 1.5%: −$475 /mo · $5,700/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $16

Break-even live

Break-even rent $3,324

Max offer price $380,000

Occupancy floor 95%

Sensitivity live

Price	-10% $279	-5% $148	+0% $16	+5% $-115	+10% $-246
Rent	-10% $-248	-5% $-116	+0% $16	+5% $149	+10% $281
Rate	-1.0pp $208	-0.5pp $113	base $16	+0.5pp $-82	+1.0pp $-182

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,344
Total (2 units)			$3,345

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Ichabod Ave Lehigh Acres, FL	6.0	4.0	2376	$2,100	$0.88	25d	1	0.54mi
2216 Leda Ave S Lehigh Acres, FL	5.0	3.0	2750	$2,470	$0.90	17d	1	1.34mi

Listing history 2 events

1. 2026-05-31
   status $380,000 Pending 35 DOM
2. 2026-04-24
   listed $380,000 Active

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 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: $40,140
• − Mortgage interest: −$21,286
• − Property taxes: −$5,700
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,211
• − Management: −$3,211
• − Depreciation: −$11,055
• Taxable loss: −$6,223
• Est. tax savings @ 24.0%: +$1,493
• After-tax cash flow: $1,691/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and recently renovated duplex in Lehigh Acres, FL, offers excellent potential for cash flow and long-term appreciation.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants.
• Both Addition of smart home features — Improves convenience and can increase rental rates.
• Both Upgrading the HVAC system — Ensures comfort and can reduce energy costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants. ↑
• Both Addition of smart home features — Improves convenience and can increase rental rates. ↑
• Both Upgrading the HVAC system — Ensures comfort and can reduce energy costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,392
• Household income: $60,530
• Rent vs Own: 77.1% rent · 22.9% own
• Severe rent burden: 1142.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% Black 36% Two or more races 21% White 18%
• Hispanic origin (detail): Mexican 21% Puerto Rican 7% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 14% Russian 1% Estonian 1%
• Foreign-born: 23% · Canada, China
• Languages at home: 54% English-only · Spanish 31% French/Haitian/Cajun 13% Other Indo-European 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: ▼ -8.43%
• Current HPI: 237.694
• Rent YoY: ▼ -6.99%
• 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

1 event — show timeline

• 2026-04-24 Listed $380,000 FORTMLS