4713/4715 28th St SW · Lehigh Acres, FL 33973

$415,000

6 bd · 4.0 ba · — sqft · MultiFamily · 157 Days on market

Built 2005 0.28 ac lot ↓ 4% since listing

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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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 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

Turnkey Duplex – Fully Updated & Income-Producing! Fantastic opportunity to own a well-maintained duplex in the growing area of Lehigh Acres. This property features major recent upgrades, making it ideal for investors or owner-occupants looking for immediate value. Recent Updates Include: Brand NEW ROOF 2025, one unit fully renovated, second unit with newly renovated kitchen, both units equipped with brand-new appliances. Each unit offers a functional layout with modern finishes, providing strong rental appeal and low maintenance for years to come. With major capital improvements already completed, this is a true move-in or rent-ready property. Located in a desirable Southwest

Key facts

• Fully renovated
• Brand new appliances
• Modern finishes

Tags

• NEW ROOF
• FULLY RENOVATED
• NEWLY RENOVATED KITCHEN
• BRAND NEW APPLIANCES
• FUNCTIONAL LAYOUT
• MODERN FINISHES

Property features AI

Finance

• Financial info: Gross scheduled income: $1,800; Operating expenses: $2,000; Tenant pays electricity; Pets allowed
• HOA & community: No association fee; Non-gated community

Exterior

• Utilities: Well water; Septic tank; Cable not available
• Home design: Resale property; Zoned RM-2
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Patio; Rectangular lot; Paved road access; Lot dimensions approximately 98 x 118 x 98 x 118; Lot size approximately 0.285 acres

Interior

• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Single hung windows

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $415k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive. Per door: $48/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 $375k (9.6% below list).
• Recommended offer: $365k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,751/mo this rent would consume 74% 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 $12k 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 157 days — a 12% lower offer ($365k) 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 $365,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.98%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4635/4633 27th St SW	0.22mi	6/4.0	2,226	8mo	$392,000	$176	71
2413-2415 Ansel Ave S	0.36mi	6/4.0	2,398	1mo	$460,000	$192	70
4617-4619 30th St SW	0.32mi	6/4.0	2,392	9mo	$550,000	$230	65
4732-4734 29th St SW	0.10mi	6/4.0	2,500	24mo	$555,000	$222	63
4660/4662 26th St SW	0.17mi	6/4.0	—	21mo	$515,000	—	62
1541/1543 Hightower Ave S	0.62mi	6/4.0	2,400	2mo	$345,000	$144	57
2800/2802 Haviland Ave S	0.45mi	6/4.0	1,525	20mo	$410,000	$269	50
4452-4454 Golfview Blvd	0.47mi	6/4.0	2,400	20mo	$550,000	$229	49
4525/4527 21st St SW	0.74mi	6/4.0	2,306	6mo	$435,000	$189	48
2405/2407 Paul Ave S	0.61mi	6/4.0	2,352	22mo	$445,000	$189	40
1141-1143 Ichabod Ave S	0.75mi	6/4.0	2,390	22mo	$562,000	$235	34
1115-1117 Circle Dr	0.73mi	6/4.0	2,200	23mo	$537,000	$244	34

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: -18.1%
• Equity multiple: 0.38×
• Total profit: $-72,113
• Equity at exit: $61,878

10-year hold

• IRR: -17.7%
• Equity multiple: 0.16×
• Total profit: $-97,230
• Equity at exit: $35,882

Cash invested: $116,200 (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: 18.4×

Monthly cashflow live

• Estimated rent: $3,751 high
• Mortgage (P&I): −$2,176
• Tax est. 1.5%: −$519 /mo · $6,225/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $95

Break-even live

Break-even rent $3,630

Max offer price $415,000

Occupancy floor 92%

Sensitivity live

Price	-10% $382	-5% $239	+0% $95	+5% $-48	+10% $-191
Rent	-10% $-201	-5% $-53	+0% $95	+5% $243	+10% $392
Rate	-1.0pp $304	-0.5pp $201	base $95	+0.5pp $-12	+1.0pp $-122

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,750
Total (2 units)			$3,751

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10849 Timber Creek Dr Fort Myers, FL	5.0	4.5	3357	$4,000	$1.19	25d	1	0.48mi
1133 Ichabod Ave Lehigh Acres, FL	6.0	4.0	2376	$2,100	$0.88	25d	1	0.77mi
1128 Gilbert Ave S Lehigh Acres, FL	6.0	4.0	589	$1,600	$2.72	13d	1	1.05mi
2216 Leda Ave S Lehigh Acres, FL	5.0	3.0	2750	$2,470	$0.90	18d	1	1.47mi

Listing history 14 events

1. 2026-06-22
   days on market $415,000 Active 157 DOM
2. 2026-06-17
   days on market $415,000 Active 153 DOM
3. 2026-06-16
   days on market $415,000 Active 152 DOM
4. 2026-06-15
   days on market $415,000 Active 151 DOM
5. 2026-06-13
   days on market $415,000 Active 149 DOM
6. 2026-06-10
   days on market $415,000 Active 146 DOM
7. 2026-06-09
   days on market $415,000 Active 145 DOM
8. 2026-06-07
   pricedays on market $415,000 Active 143 DOM
9. 2026-06-02
   days on market $425,000 Active 138 DOM
10. 2026-06-01
    days on market $425,000 Active 137 DOM
11. 2026-06-01
    days on market $425,000 Active 136 DOM
12. 2026-04-01
    price $425,000
13. 2026-01-31
    price $435,000
14. 2026-01-15
    listed $445,000 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,012
• − Mortgage interest: −$23,246
• − Property taxes: −$6,225
• − Insurance: −$2,075
• − Repairs & maintenance: −$3,601
• − Management: −$3,601
• − Depreciation: −$12,073
• Taxable loss: −$5,809
• Est. tax savings @ 24.0%: +$1,394
• After-tax cash flow: $2,538/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): 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

-4.5% since first listed

3 events — show timeline

• 2026-04-01 Price Changed $425,000 FORTMLS
• 2026-01-31 Price Changed $435,000 FORTMLS
• 2026-01-15 Listed $445,000 FORTMLS