2617 40th St SW · Lehigh Acres, FL 33976

$304,990

4 bd · 2.0 ba · 1,650 sqft · Land · 59 Days on market

Built 2026 0.25 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
• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Rent growth +2.1/5.0
• DSCR +1.9/10.0

Listing remarks MLS

BUILD YOUR DREAM HOME ON THIS BEAUTIFUL CLEAN AND CLEARED CORNER LOT WITH EASY ACCESS TO SUNSHINE BLVD AND SR82, JUST MINUTES AWAY FROM SWFL INTERNATIONAL AIRPORT, SCHOOLS AND RESTAURANTS. MAKE IT YOURS TODAY.

Key facts

• Large kitchen island
• Expansive great room
• Vaulted ceilings

Tags

• OPEN-CONCEPT FLOOR PLAN
• UPGRADED CABINETS
• LARGE KITCHEN ISLAND
• EXPANSIVE GREAT ROOM
• TILE-PLANK FLOORING
• VAULTED CEILINGS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: No association fee

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Security/high impact doors
• Utilities: Cable available; Septic tank; Well water
• Home design: Single-story; Entry level 1; North-facing; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof; Built on foundation (information not specified)
• Exterior features: Security/high impact doors; Open porch

Interior

• Kitchen: Dishwasher; Microwave; Range
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: High ceilings; Living/dining room; Pantry; Cable TV; Walk-in closet(s); Split bedrooms; Unfurnished; Single hung windows; Impact glass
• Laundry & utility: Inside laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $305k.

Deal economics

• At list price, monthly cash flow is $-342 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (26.7% below list).
• Recommended offer: $224k (26.7% 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 soft (-1.5%/yr); 786 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 37% 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 $33k of equity ($2k loan paydown + $30k 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 ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $25k; list at $305k implies a 1120% 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 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,553 (26.7% 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 59 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.80%
• DSCR: 0.79
• GRM: 11.4

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: 20.0%
• Equity multiple: 2.61×
• Total profit: $137,828
• Equity at exit: $274,759

10-year hold

• IRR: 17.8%
• Equity multiple: 5.82×
• Total profit: $411,329
• Equity at exit: $592,528

Cash invested: $85,397 (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: 11.4×

Monthly cashflow live

• Estimated rent: $2,236 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-342

Break-even live

Break-even rent $2,668

Max offer price $255,553

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: $76,248
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3001 37th St SW Lehigh Acres, FL	3.0	2.5	1235	$1,705	$1.38	23d	1	0.44mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,930	$1.38	2d	1	0.49mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,960	$1.40	3d	1	0.49mi
813 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1200	$1,495	$1.25	23d	1	0.52mi
4701 Connie Ave S Lehigh Acres, FL	3.0	2.0	1314	$1,900	$1.45	14d	1	0.53mi
397 Pennfield Ave Lehigh Acres, FL	4.0	2.0	1780	$2,100	$1.18	23d	1	0.56mi
2513 48th St SW Lehigh Acres, FL	3.0	2.0	1423	$1,750	$1.23	16d	1	0.59mi
3012 40th St SW Lehigh Acres, FL	3.0	2.0	1427	$1,950	$1.37	23d	1	0.60mi
2612 31st St Lehigh Acres, FL	4.0	2.0	1389	$1,799	$1.30	16d	1	0.60mi
2612 31st St Lehigh Acres, FL	4.0	2.0	1365	$1,799	$1.32	13d	1	0.60mi
2911 48th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,200	$1.28	10d	1	0.69mi
749 Alabama Rd S Unit 749 Lehigh Acres, FL	3.0	2.0	1275	$1,800	$1.41	2d	1	0.73mi
3102 39th St SW Lehigh Acres, FL	3.0	2.0	1097	$1,630	$1.49	21d	1	0.74mi
177 Pennfield St Lehigh Acres, FL	3.0	2.0	1250	$1,850	$1.48	23d	1	0.77mi
20483 Copperhead Dr Unit 20483 Lehigh Acres, FL	3.0	3.0	1849	$2,300	$1.24	10d	1	0.78mi
2710 28th St SW Lehigh Acres, FL	4.0	2.0	1742	$2,450	$1.41	23d	1	0.79mi
4704 Karen Ave S Lehigh Acres, FL	4.0	3.0	1916	$2,500	$1.30	3d	1	0.79mi
2819 51st St SW Lehigh Acres, FL	4.0	2.0	1472	$2,250	$1.53	23d	1	0.80mi
325 Paulcrest Ave Lehigh Acres, FL	4.0	2.0	1619	$2,300	$1.42	23d	1	0.80mi
2908 51st St SW Lehigh Acres, FL	3.0	2.0	1401	$1,796	$1.28	3d	1	0.81mi
4702 Loraine Ave S Lehigh Acres, FL	3.0	2.0	1354	$2,000	$1.48	14d	1	0.83mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	3d	1	0.83mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	16d	1	0.83mi
2708 27th St SW Lehigh Acres, FL	4.0	2.0	1698	$2,280	$1.34	3d	1	0.84mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	2d	1	0.86mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	3d	1	0.86mi
20555 Copperhead Dr Lehigh Acres, FL	4.0	3.0	2032	$2,490	$1.23	3d	1	0.87mi
20550 Copperhead Dr Lehigh Acres, FL	4.0	3.0	2002	$3,500	$1.75	23d	1	0.89mi
2507 53rd St SW Lehigh Acres, FL	3.0	2.0	1714	$1,950	$1.14	3d	1	0.90mi
2512 54th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,750	$0.95	3d	1	0.91mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,000	$1.42	3d	1	0.92mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,100	$1.49	23d	1	0.92mi
2811 25th St SW Unit NA Lehigh Acres, FL	3.0	2.0	1430	$1,990	$1.39	23d	1	0.96mi
227 Pennfield St Lehigh Acres, FL	4.0	2.0	1732	$2,275	$1.31	23d	1	1.02mi
664 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1181	$1,200	$1.02	23d	1	1.02mi
662 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1181	$1,200	$1.02	23d	1	1.02mi
234 Pullman St Lehigh Acres, FL	3.0	2.0	1392	$1,800	$1.29	23d	1	1.03mi
2602 24th St SW Lehigh Acres, FL	3.0	2.0	1358	$1,800	$1.33	3d	1	1.03mi
2517 56th St SW Lehigh Acres, FL	3.0	2.0	1104	$1,499	$1.36	2d	1	1.05mi
208 Pembroke St Lehigh Acres, FL	3.0	2.0	1545	$2,100	$1.36	23d	1	1.10mi

Listing history 23 events

1. 2026-06-17
   days on market $304,990 Active 59 DOM
2. 2026-06-16
   days on market $304,990 Active 58 DOM
3. 2026-06-15
   days on market $304,990 Active 57 DOM
4. 2026-06-13
   statusdays on market $304,990 Active 55 DOM
5. 2026-06-07
   statusdays on market $304,990 Pending 52 DOM
6. 2026-06-03
   pricedays on market $304,990 Active 51 DOM
7. 2026-06-02
   days on market $305,990 Active 50 DOM
8. 2026-06-01
   days on market $305,990 Active 49 DOM
9. 2026-05-31
   days on market $305,990 Active 48 DOM
10. 2026-05-21
    price $306,990
11. 2026-05-13
    price $307,990
12. 2026-05-06
    price $309,990
13. 2026-04-29
    price $311,990
14. 2026-04-13
    listed $314,990 Active
15. 2025-11-05
    soldstatus $25,000 Closed 209-char remark

    Show marketing remark (209 chars)

    BUILD YOUR DREAM HOME ON THIS BEAUTIFUL CLEAN AND CLEARED CORNER LOT WITH EASY ACCESS TO SUNSHINE BLVD AND SR82, JUST MINUTES AWAY FROM SWFL INTERNATIONAL AIRPORT, SCHOOLS AND RESTAURANTS. MAKE IT YOURS TODAY.

16. 2025-11-05
    soldstatus $25,000

    Show marketing remark (209 chars)

    BUILD YOUR DREAM HOME ON THIS BEAUTIFUL CLEAN AND CLEARED CORNER LOT WITH EASY ACCESS TO SUNSHINE BLVD AND SR82, JUST MINUTES AWAY FROM SWFL INTERNATIONAL AIRPORT, SCHOOLS AND RESTAURANTS. MAKE IT YOURS TODAY.

17. 2025-10-31
    status Pending 209-char remark

    Show marketing remark (209 chars)

    BUILD YOUR DREAM HOME ON THIS BEAUTIFUL CLEAN AND CLEARED CORNER LOT WITH EASY ACCESS TO SUNSHINE BLVD AND SR82, JUST MINUTES AWAY FROM SWFL INTERNATIONAL AIRPORT, SCHOOLS AND RESTAURANTS. MAKE IT YOURS TODAY.

18. 2025-10-04
    listed $34,900 Active 209-char remark

    Show marketing remark (209 chars)

    BUILD YOUR DREAM HOME ON THIS BEAUTIFUL CLEAN AND CLEARED CORNER LOT WITH EASY ACCESS TO SUNSHINE BLVD AND SR82, JUST MINUTES AWAY FROM SWFL INTERNATIONAL AIRPORT, SCHOOLS AND RESTAURANTS. MAKE IT YOURS TODAY.

19. 2023-08-31
    soldstatus $10,000
20. 2019-06-17
    soldstatus $7,500
21. 2019-06-14
    soldstatus $7,500 Sold 98-char remark

    Show marketing remark (98 chars)

    Build your dream home on this beautiful cleared corner lot. Easy access to Sunshine Blvd and SR82.

22. 2019-06-03
    status Pending 98-char remark

    Show marketing remark (98 chars)

    Build your dream home on this beautiful cleared corner lot. Easy access to Sunshine Blvd and SR82.

23. 2019-04-27
    listed $7,500 Active 98-char remark

    Show marketing remark (98 chars)

    Build your dream home on this beautiful cleared corner lot. Easy access to Sunshine Blvd and SR82.

ⓘ 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 4/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,826
• − Mortgage interest: −$17,084
• − Property taxes: −$4,575
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − Depreciation: −$8,872
• Taxable loss: −$9,522
• Est. tax savings @ 24.0%: +$2,285
• After-tax cash flow: $-1,814/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

+3993.2% since first listed

14 events — show timeline

• 2026-05-21 Price Changed $306,990 FORTMLS
• 2026-05-13 Price Changed $307,990 FORTMLS
• 2026-05-06 Price Changed $309,990 FORTMLS
• 2026-04-29 Price Changed $311,990 FORTMLS
• 2026-04-13 Listed $314,990 FORTMLS
• 2025-11-05 Sold (Public Records) $25,000 Public Records
• 2025-11-05 Sold (MLS) $25,000 FORTMLS
• 2025-10-31 Pending — FORTMLS
• 2025-10-04 Listed $34,900 FORTMLS
• 2023-08-31 Sold (Public Records) $10,000 Public Records
• 2019-06-17 Sold (Public Records) $7,500 Public Records
• 2019-06-14 Sold (MLS) $7,500 FORTMLS
• 2019-06-03 Pending — FORTMLS
• 2019-04-27 Listed $7,500 FORTMLS

Property tax history

+19.2%/yr

Latest (2025): $503 · +10.4% YoY. Source: county tax records.