343 Pullman St · Lehigh Acres, FL 33974

$349,000

3 bd · 2.0 ba · 1,778 sqft · Land · 75 Days on market

Built 2025 0.25 ac lot

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Why this score? — see what drove the F 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 +5.4/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks

40-FT WIDE PATIO WITH OUTDOOR KITCHEN | HURRICANE IMPACT WINDOWS | MODERN NEW CONSTRUCTION Sleek, spacious, and designed to impress, this stunning new construction home offers the perfect blend of luxury and functionality. Featuring 3 bedrooms plus a private office, the thoughtfully designed layout provides both comfort and versatility. The chef-inspired kitchen is a true showpiece with premium 42” soft-close cabinetry, extensive storage, oversized pot and pan drawers, and a striking waterfall island finished in Level 5 quartz. The same high-end quartz carries seamlessly through the bathrooms and the outdoor kitchen for a cohesive, upscale feel throughout the home. Soaring ceilings

Key facts

• 40ft wide patio
• Premium cabinetry
• Outdoor kitchen

Tags

• 40FT WIDE PATIO
• OUTDOOR KITCHEN
• HURRICANE IMPACT WINDOWS
• MODERN NEW CONSTRUCTION
• CHEF INSPIRED KITCHEN
• PREMIUM CABINETRY

Property features AI

Finance

• Other: Possession at closing
• Financial info: Single unit / single floor; Not a multi-unit property
• HOA & community: No HOA maintenance; No community amenities; Non-gated community

Exterior

• Parking: Attached 2-car garage
• Security: Impact-resistant windows; Impact-resistant doors
• Utilities: Well water; Septic sewer; Cable available
• Home design: Single-family residence; 1-story / ranch; Rear exposure facing northwest; Residential property in Lehigh Acres (RS-1 zoning)
• Construction: Concrete block construction; Stucco exterior finish; Shingle roof; Built in 2025; Foundation information not specified
• Exterior features: Outdoor kitchen; Patio; Room for a pool; Landscaped area/view

Interior

• Kitchen: Kitchen island; Pantry; Gas cooktop; Self-cleaning oven; Microwave; Dishwasher; Refrigerator/Freezer; Disposal; Breakfast bar / dining in living area
• Bedrooms: 3 bedrooms plus den
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bathroom with dual sinks and a shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: French doors; High-speed internet available; Pantry; Smoke detectors; Tray ceiling; Vaulted ceiling; Walk-in closet; Split bedroom floor plan; Open porch/lanai
• Laundry & utility: Washer/dryer hookup inside residence; Washer/Dryer hookup listed among equipment; Owned water treatment system

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $349k.

Deal economics

• At list price, monthly cash flow is $-761 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (31.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (40.1% below list).
• Recommended offer: $209k (40.1% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 4.7% in Lehigh Acres — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 25d 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 ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k 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 ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $26k; list at $349k implies a 1242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $208,996 (40.1% 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 75 days. Have you received any prior offers? Is the seller open to a 40% 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: 0.60% ✗
• Cap rate: 3.68%
• Cash-on-cash: -9.34%
• DSCR: 0.58
• GRM: 13.9

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: 17.0%
• Equity multiple: 2.39×
• Total profit: $135,526
• Equity at exit: $314,407

10-year hold

• IRR: 15.7%
• Equity multiple: 5.36×
• Total profit: $426,303
• Equity at exit: $678,030

Cash invested: $97,720 (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: 13.9×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-761

Break-even live

Break-even rent $3,053

Max offer price $238,912

Occupancy floor —

Sensitivity live

Price	-10% $-520	-5% $-640	+0% $-761	+5% $-881	+10% $-1,002
Rent	-10% $-926	-5% $-843	+0% $-761	+5% $-678	+10% $-596
Rate	-1.0pp $-585	-0.5pp $-672	base $-761	+0.5pp $-851	+1.0pp $-943

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
531 Alabama Rd S Lehigh Acres, FL	2.0	2.0	2612	$1,750	$0.67	24d	1	0.03mi
423 Canyon Dr S Lehigh Acres, FL	3.0	2.0	1830	$1,550	$0.85	24d	1	0.21mi
633 Alabama Rd S Lehigh Acres, FL	3.0	2.0	2422	$1,500	$0.62	24d	1	0.26mi
234 Pullman St Lehigh Acres, FL	3.0	2.0	1392	$1,800	$1.29	24d	1	0.30mi
227 Pennfield St Lehigh Acres, FL	4.0	2.0	1732	$2,275	$1.31	24d	1	0.37mi
212 Pullman St Lehigh Acres, FL	3.0	2.0	2396	$1,800	$0.75	24d	1	0.40mi
333 Pinehurst Ave Lehigh Acres, FL	3.0	2.0	1545	$2,100	$1.36	24d	1	0.47mi
10353 Canal Brook Ln Lehigh Acres, FL	3.0	2.0	1541	$2,049	$1.33	24d	1	0.50mi
325 Paulcrest Ave Lehigh Acres, FL	4.0	2.0	1619	$2,300	$1.42	24d	1	0.51mi
208 Pembroke St Lehigh Acres, FL	3.0	2.0	1545	$2,100	$1.36	24d	1	0.53mi
10329 Canal Brook Ln Lehigh Acres, FL	4.0	2.5	2462	$2,600	$1.06	24d	1	0.56mi
10531 Canal Brook Ln Lehigh Acres, FL	4.0	2.0	1828	$2,300	$1.26	17d	1	0.57mi
19480 Poppytree Ct Lehigh Acres, FL	3.0	2.0	1334	$1,750	$1.31	24d	1	0.60mi
9099 Leatherwood Loop Lehigh Acres, FL	2.0	2.0	1564	$2,400	$1.53	24d	1	0.62mi
177 Pennfield St Lehigh Acres, FL	3.0	2.0	1250	$1,850	$1.48	24d	1	0.63mi
749 Alabama Rd S Unit 749 Lehigh Acres, FL	3.0	2.0	1275	$1,800	$1.41	3d	1	0.63mi
418 Pickford Ave Lehigh Acres, FL	4.0	2.0	1937	$2,450	$1.26	24d	1	0.73mi
437 Reading St Lehigh Acres, FL	4.0	2.0	1833	$1,795	$0.98	3d	1	0.73mi
10507 Crossback Ln Lehigh Acres, FL	3.0	2.0	1672	$1,800	$1.08	24d	1	0.75mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	2.0	2.0	1244	$1,595	$1.28	2d	1	0.76mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	2.0	2.0	1244	$1,595	$1.28	3d	1	0.76mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1244	$1,650	$1.33	22d	1	0.76mi
9249 Aegean Cir Lehigh Acres, FL	2.0	2.0	1320	$1,800	$1.36	24d	1	0.81mi
438 Poplar St Lehigh Acres, FL	3.0	2.0	1640	$2,150	$1.31	4d	1	0.82mi
20483 Copperhead Dr Unit 20483 Lehigh Acres, FL	3.0	3.0	1849	$2,300	$1.24	11d	1	0.83mi
20550 Copperhead Dr Lehigh Acres, FL	4.0	3.0	2002	$3,500	$1.75	24d	1	0.85mi
304 Preston St Lehigh Acres, FL	3.0	2.0	1590	$2,150	$1.35	4d	1	0.86mi
304 Preston St Unit 304 Lehigh Acres, FL	3.0	2.0	1519	$2,350	$1.55	24d	1	0.86mi
334 Ranch Ave Lehigh Acres, FL	3.0	2.0	1645	$2,150	$1.31	4d	1	0.87mi
20555 Copperhead Dr Lehigh Acres, FL	4.0	3.0	2032	$2,490	$1.23	4d	1	0.88mi
18261 Minorea Ln Lehigh Acres, FL	2.0	2.0	1402	$1,595	$1.14	4d	1	0.92mi
18261 Minorea Ln Lehigh Acres, FL	2.0	2.0	1402	$1,800	$1.28	24d	1	0.92mi
18461 Copperhead Dr #431 Lehigh Acres, FL	3.0	2.0	1301	$3,995	$3.07	24d	1	0.94mi
18461 Copperhead Dr #421 Lehigh Acres, FL	3.0	2.0	1301	$1,895	$1.46	24d	1	0.94mi
18266 Minorea Ln Lehigh Acres, FL	3.0	2.0	1408	$1,650	$1.17	24d	1	0.94mi
467 Raymer St Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	11d	1	0.95mi
19542 Fairhill Ct Lehigh Acres, FL	3.0	2.0	1429	$1,700	$1.19	24d	1	0.96mi
20517 Hazelnut Ct S Lehigh Acres, FL	2.0	2.0	1564	$2,050	$1.31	24d	1	0.96mi
337 Rancho Ave Lehigh Acres, FL	3.0	2.0	1723	$2,150	$1.25	24d	1	0.97mi
20720 Copperhead Dr Lehigh Acres, FL	3.0	3.0	2434	$2,500	$1.03	24d	1	0.97mi

Listing history 26 events

1. 2026-06-17
   days on market $349,000 Active 75 DOM
2. 2026-06-16
   days on market $349,000 Active 74 DOM
3. 2026-06-15
   days on market $349,000 Active 73 DOM
4. 2026-06-13
   days on market $349,000 Active 71 DOM
5. 2026-06-10
   days on market $349,000 Active 68 DOM
6. 2026-06-09
   days on market $349,000 Active 67 DOM
7. 2026-06-07
   days on market $349,000 Active 65 DOM
8. 2026-06-03
   days on market $349,000 Active 61 DOM
9. 2026-06-02
   days on market $349,000 Active 60 DOM
10. 2026-06-01
    days on market $349,000 Active 59 DOM
11. 2026-06-01
    days on market $349,000 Active 58 DOM
12. 2026-04-03
    listed $349,000 Active
13. 2026-03-31
    historical
14. 2026-03-31
    historical
15. 2026-02-08
    price $349,000
16. 2026-02-08
    price $349,000
17. 2026-02-02
    price $359,000
18. 2026-01-26
    price $359,000
19. 2026-01-12
    price $369,000
20. 2025-12-15
    listed $379,000 Active
21. 2025-11-04
    listed $379,000 Active
22. 2024-05-06
    soldstatus $26,000
23. 2024-04-25
    soldstatus $26,000 Closed
24. 2024-04-11
    status Pending
25. 2024-04-08
    listed $30,000 Active
26. 1985-03-01
    soldstatus $5,300

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,080
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$10,153
• Taxable loss: −$15,615
• Est. tax savings @ 24.0%: +$3,748
• After-tax cash flow: $-5,382/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

+6484.9% since first listed

15 events — show timeline

• 2026-04-03 Listed $349,000 NAPLESMLS
• 2026-03-31 Listing Removed — NAPLESMLS
• 2026-03-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-08 Price Changed $349,000 NAPLESMLS
• 2026-02-08 Price Changed $349,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $359,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $359,000 NAPLESMLS
• 2026-01-12 Price Changed $369,000 NAPLESMLS
• 2025-12-15 Listed $379,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Listed $379,000 NAPLESMLS
• 2024-05-06 Sold (Public Records) $26,000 Public Records
• 2024-04-25 Sold (MLS) $26,000 FORTMLS
• 2024-04-11 Pending — FORTMLS
• 2024-04-08 Listed $30,000 FORTMLS
• 1985-03-01 Sold (Public Records) $5,300 Public Records

Property tax history

+19.9%/yr

Latest (2025): $501 · +28.2% YoY. Source: county tax records.