923 Alcalde St E · Lehigh Acres, FL 33974

$339,000

3 bd · 2.0 ba · 1,589 sqft · Land · 79 Days on market

Built 2026 0.26 ac 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• Rent growth +1.3/5.0
• DSCR +0.4/10.0

Listing remarks MLS

Ideal for building your dream home. Quiet neighborhood, close to amenities. Seller also offers an excellent opportunity: owns multiple vacant lots in Lehigh Acres, FL. Consider purchasing as a bundle for potential investment. Contact for details on available lots and bundle pricing. Don't miss out on this versatile real estate offering!

Key facts

• Large closets
• Peaceful setting
• High ceilings

Tags

• HIGH CEILINGS
• GENEROUSLY SIZED LIVING AREAS
• LARGE CLOSETS
• QUICK ACCESS TO SR-82
• PEACEFUL SETTING

Property features AI

Finance

• Other: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Smoke detectors
• Utilities: Septic tank sewer; Well water; Cable available
• Home design: Single-story; New construction; Faces south; North exposure noted
• Construction: Block, concrete and stucco construction; Shingle roof; Built as new construction
• Exterior features: Security/high impact doors; Well for irrigation

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Impact glass windows; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $339k.

Deal economics

• At list price, monthly cash flow is $-648 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (27.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (36.7% below list).
• Recommended offer: $215k (36.7% 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 falling (-4.7%/yr); 2460 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 36% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $36k of equity ($2k loan paydown + $34k 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 ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($319k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $20k; list at $339k implies a 1595% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,536 (36.7% 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. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.63% ✗
• Cap rate: 4.00%
• Cash-on-cash: -8.19%
• DSCR: 0.64
• GRM: 13.2

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: 17.8%
• Equity multiple: 2.44×
• Total profit: $137,107
• Equity at exit: $305,398

10-year hold

• IRR: 16.2%
• Equity multiple: 5.48×
• Total profit: $425,017
• Equity at exit: $658,602

Cash invested: $94,920 (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 33974

• Home prices YoY: 5.8%
• Rents YoY: -4.7%
• Active inventory: 2460
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,145 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $-648

Break-even live

Break-even rent $2,966

Max offer price $245,245

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
940 Belmont St E Lehigh Acres, FL	4.0	2.0	1838	$2,850	$1.55	23d	1	0.32mi
312 Lenz Ave Lehigh Acres, FL	3.0	2.5	2208	$2,500	$1.13	23d	1	0.54mi
912 Anthony St E Lehigh Acres, FL	3.0	2.5	1548	$1,890	$1.22	16d	1	0.62mi
382 McArthur Blvd Lehigh Acres, FL	3.0	2.0	1055	$2,200	$2.09	23d	1	0.62mi
947 Grant Blvd Lehigh Acres, FL	4.0	2.0	1650	$2,145	$1.30	23d	1	0.64mi
232 Fowler Ave Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	23d	1	0.67mi
333 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1114	$1,300	$1.17	3d	1	0.69mi
350 Limerick Ave S Lehigh Acres, FL	3.0	2.0	1199	$1,800	$1.50	3d	1	0.70mi
825 Carbon St E Lehigh Acres, FL	3.0	2.0	1582	$2,300	$1.45	23d	1	0.74mi
219 Beckley Dr Lehigh Acres, FL	3.0	2.5	1548	$1,890	$1.22	16d	1	0.74mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	3d	1	0.75mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	14d	1	0.75mi
388 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,780	$1.48	23d	1	0.82mi
759 Cane St E Lehigh Acres, FL	3.0	2.0	1169	$1,950	$1.67	3d	1	0.84mi
230 E Malden Ave S Lehigh Acres, FL	4.0	2.0	1833	$1,875	$1.02	23d	1	0.88mi
750 Cane St E Lehigh Acres, FL	4.0	3.0	1537	$2,800	$1.82	3d	1	0.91mi
444 Genoa Ave S Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	21d	1	0.92mi
459 Lockport Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	23d	1	0.93mi
455 Bell Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1142	$1,600	$1.40	23d	1	0.96mi
1122 Randolph St Lehigh Acres, FL	3.0	2.0	1550	$2,100	$1.35	23d	1	1.02mi
718 Sunrise Blvd Lehigh Acres, FL	3.0	2.0	1100	$1,610	$1.46	23d	1	1.05mi
727 Cane St E Lehigh Acres, FL	3.0	2.0	1582	$2,000	$1.26	23d	1	1.08mi
129 Wanatah Ave Lehigh Acres, FL	4.0	2.0	1798	$1,911	$1.06	3d	1	1.10mi
1440 Graham Cir Lehigh Acres, FL	3.0	2.0	1767	$2,300	$1.30	23d	1	1.10mi
970 Lakeside Dr Lehigh Acres, FL	3.0	2.0	1325	$1,800	$1.36	19d	1	1.10mi
940 Sterling St E Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	3d	1	1.13mi
508 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	23d	1	1.16mi
442 Genoa Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	3d	1	1.18mi
1018 Kent St E Lehigh Acres, FL	3.0	2.0	1600	$2,000	$1.25	16d	1	1.20mi
815 Porter St E Lehigh Acres, FL	3.0	2.0	1659	$1,800	$1.08	23d	1	1.20mi
101 Edward Ave Lehigh Acres, FL	3.0	2.0	1531	$3,200	$2.09	23d	1	1.22mi
713 Cardinal St E Lehigh Acres, FL	3.0	2.0	1100	$1,635	$1.49	3d	1	1.22mi
327 Lester Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,195	$1.39	1d	1	1.28mi
719 Center Lake St Lehigh Acres, FL	3.0	2.0	1616	$1,750	$1.08	23d	1	1.33mi
541 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1634	$1,921	$1.18	3d	1	1.39mi
530 Kilgour Ave Lehigh Acres, FL	3.0	2.0	2214	$1,795	$0.81	3d	1	1.40mi
573 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1218	$1,900	$1.56	14d	1	1.40mi
720 Chavers St Lehigh Acres, FL	3.0	2.0	1547	$2,200	$1.42	23d	1	1.40mi
1406 Ford Cir Lehigh Acres, FL	3.0	2.5	1662	$2,100	$1.26	23d	1	1.41mi
538 Flamingo Ave S Lehigh Acres, FL	3.0	2.0	1272	$1,791	$1.41	3d	1	1.41mi

Listing history 24 events

1. 2026-06-17
   days on market $339,000 Active 79 DOM
2. 2026-06-16
   days on market $339,000 Active 78 DOM
3. 2026-06-15
   days on market $339,000 Active 77 DOM
4. 2026-06-13
   days on market $339,000 Active 75 DOM
5. 2026-06-10
   days on market $339,000 Active 72 DOM
6. 2026-06-09
   days on market $339,000 Active 71 DOM
7. 2026-06-07
   days on market $339,000 Active 69 DOM
8. 2026-06-03
   days on market $339,000 Active 65 DOM
9. 2026-06-02
   days on market $339,000 Active 64 DOM
10. 2026-06-01
    days on market $339,000 Active 63 DOM
11. 2026-06-01
    days on market $339,000 Active 62 DOM
12. 2026-03-29
    listed $339,000 Active
13. 2023-10-13
    soldstatus $20,000 Closed 338-char remark

    Show marketing remark (338 chars)

    Ideal for building your dream home. Quiet neighborhood, close to amenities. Seller also offers an excellent opportunity: owns multiple vacant lots in Lehigh Acres, FL. Consider purchasing as a bundle for potential investment. Contact for details on available lots and bundle pricing. Don't miss out on this versatile real estate offering!

14. 2023-09-07
    status Pending 338-char remark

    Show marketing remark (338 chars)

    Ideal for building your dream home. Quiet neighborhood, close to amenities. Seller also offers an excellent opportunity: owns multiple vacant lots in Lehigh Acres, FL. Consider purchasing as a bundle for potential investment. Contact for details on available lots and bundle pricing. Don't miss out on this versatile real estate offering!

15. 2023-08-29
    price $20,000 338-char remark

    Show marketing remark (338 chars)

    Ideal for building your dream home. Quiet neighborhood, close to amenities. Seller also offers an excellent opportunity: owns multiple vacant lots in Lehigh Acres, FL. Consider purchasing as a bundle for potential investment. Contact for details on available lots and bundle pricing. Don't miss out on this versatile real estate offering!

16. 2023-08-23
    listed $18,000 Active 338-char remark

    Show marketing remark (338 chars)

    Ideal for building your dream home. Quiet neighborhood, close to amenities. Seller also offers an excellent opportunity: owns multiple vacant lots in Lehigh Acres, FL. Consider purchasing as a bundle for potential investment. Contact for details on available lots and bundle pricing. Don't miss out on this versatile real estate offering!

17. 2023-06-09
    soldstatus $15,000 Sold 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

18. 2023-04-28
    status Pending With Contingencies 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

19. 2023-03-11
    price $14,500 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

20. 2022-10-26
    price $13,500 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

21. 2022-10-15
    status Active 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

22. 2022-08-06
    price $14,500 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

23. 2022-08-03
    price $13,500 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

24. 2022-07-09
    listed $16,500 Active 261-char remark

    Show marketing remark (261 chars)

    Look here in a quiet area southeast at Lehigh Acres, close to the Lee County High School and Mirror Lake Golf Course, may Churches of your choice close by, SR-82 just south a few Blocks which takes you south to Miami or north to I-75, Beaches, Tampa/Orlando. ..

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 5 d/yr ≥108°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,744
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$2,060
• − Management: −$2,060
• − Depreciation: −$9,862
• Taxable loss: −$14,006
• Est. tax savings @ 24.0%: +$3,361
• After-tax cash flow: $-4,414/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): 19,927
• Household income: $72,192
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 434.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 31% White 26% Black 18%
• Hispanic origin (detail): Mexican 12% Puerto Rican 7% Cuban 20% Dominican 4%
• Common ancestry: Hispanic 7% Italian 1% Portuguese 1%
• Foreign-born: 32% · Canada, Jamaica
• Languages at home: 48% English-only · Spanish 43% French/Haitian/Cajun 7% 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: ▲ 16.53%
• Current HPI: 303.3399
• Rent YoY: ▼ -4.68%
• 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

+1954.5% since first listed

13 events — show timeline

• 2026-03-29 Listed $339,000 FORTMLS
• 2023-10-13 Sold (MLS) $20,000 FORTMLS
• 2023-09-07 Pending — FORTMLS
• 2023-08-29 Price Changed $20,000 FORTMLS
• 2023-08-23 Listed $18,000 FORTMLS
• 2023-06-09 Sold (MLS) $15,000 BEARMLS
• 2023-04-28 Pending — BEARMLS
• 2023-03-11 Price Changed $14,500 BEARMLS
• 2022-10-26 Price Changed $13,500 BEARMLS
• 2022-10-15 Relisted — BEARMLS
• 2022-08-06 Price Changed $14,500 BEARMLS
• 2022-08-03 Price Changed $13,500 BEARMLS
• 2022-07-09 Listed $16,500 BEARMLS

Property tax history

+17.8%/yr

Latest (2025): $447 · +11.9% YoY. Source: county tax records.