1917 NW 24th Ave · Cape Coral, FL 33993

$374,900

4 bd · 2.5 ba · 1,998 sqft · Land · 9 Days on market

Built 2025 10,018 sqft 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).

• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Brand-new construction offering 4 bedrooms, 2.5 bathrooms, and a spacious open floor plan that defines modern living at its best. Built by ONX Homes—renowned for their innovative construction and sleek modern design—this home blends style, comfort, and functionality. Enjoy Builder Warranty! What sets this home apart is ONX's proprietary X Construction™ technology. This advanced building system utilizes factory-engineered components, including monolithic concrete walls, reinforced foundations, and integrated bathroom pods, to deliver superior strength, energy efficiency, and resilience compared to traditional construction methods . This particular home is constructed on ste

Key facts

• Open floor plan
• 0.23 acre lot
• 2 garage spots

Tags

• OPEN FLOOR PLAN
• MONOLITHIC CONCRETE WALLS
• REINFORCED FOUNDATIONS
• INTEGRATED BATHROOM PODS
• IMPACT-RESISTANT WINDOWS
• TANKLESS WATER HEATER

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $375k.

Deal economics

• At list price, monthly cash flow is $-421 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $300k (19.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (37.4% below list).
• Recommended offer: $235k (37.4% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.1% in Cape Coral — 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 77/100 on livability (#208 in FL, #3,098 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: commute 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.
• Market conditions: Rents falling (-5.5%/yr); 2652 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 31% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,769 (37.4% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.63% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -27.4%
• Equity multiple: 0.10×
• Total profit: $-94,627
• Equity at exit: $55,899

10-year hold

• IRR: -38.4%
• Equity multiple: -0.37×
• Total profit: $-144,190
• Equity at exit: $32,415

Cash invested: $104,972 (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 33993

• Home prices YoY: -14.1%
• Rents YoY: -5.5%
• Active inventory: 2652
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,348 high
• Mortgage (P&I): −$1,966
• Tax from tax record: −$87 /mo · $1,049/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-421

Break-even live

Break-even rent $2,881

Max offer price $300,459

Occupancy floor —

Sensitivity live

Price	-10% $-209	-5% $-315	+0% $-421	+5% $-528	+10% $-634
Rent	-10% $-607	-5% $-514	+0% $-421	+5% $-329	+10% $-236
Rate	-1.0pp $-233	-0.5pp $-326	base $-421	+0.5pp $-519	+1.0pp $-617

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: $93,725
• Closing costs: $11,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1821 NW 23rd Ave Cape Coral, FL	3.0	2.0	1876	$1,856	$0.99	15d	1	0.17mi
2001 NW 25th Ave Cape Coral, FL	3.0	2.0	1887	$2,500	$1.32	25d	1	0.17mi
2216 NW 18th Ter Cape Coral, FL	3.0	2.0	1548	$1,816	$1.17	15d	1	0.23mi
1903 NW 22nd Ave Cape Coral, FL	4.0	2.0	1984	$2,200	$1.11	25d	1	0.23mi
2105 NW 22nd Ave Cape Coral, FL	4.0	2.0	1833	$2,265	$1.24	15d	1	0.25mi
2152 NW 22nd Pl Cape Coral, FL	3.0	2.0	1418	$2,550	$1.80	12d	1	0.34mi
2302 NW 27th Ave Cape Coral, FL	3.0	2.0	2136	$1,691	$0.79	22d	1	0.57mi
2027 NW 17th St Cape Coral, FL	4.0	2.0	2000	$2,450	$1.23	25d	1	0.57mi
1820 NW 19th Ave Cape Coral, FL	4.0	3.0	2340	$2,500	$1.07	12d	1	0.57mi
1823 NW 19th Ave Cape Coral, FL	4.0	2.0	1712	$1,850	$1.08	25d	1	0.60mi
2329 NW 27th Ave Cape Coral, FL	3.0	2.0	1761	$2,300	$1.31	17d	1	0.63mi
1809 NW 17th Ter Cape Coral, FL	3.0	2.0	1750	$1,980	$1.13	25d	1	0.66mi
2507 NW 25th St Cape Coral, FL	4.0	2.0	1842	$2,200	$1.19	15d	1	0.66mi
2511 NW 25th St Cape Coral, FL	4.0	2.0	1842	$2,200	$1.19	15d	1	0.66mi
2124 NW 18th Ave Cape Coral, FL	3.0	2.0	1556	$2,000	$1.29	20d	1	0.70mi
2423 NW 19th Pl Cape Coral, FL	4.0	2.0	1829	$1,761	$0.96	11d	1	0.76mi
2538 NW 24th Pl Cape Coral, FL	4.0	2.0	1565	$1,950	$1.25	4d	1	0.78mi
1822 Diplomat Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,145	$1.20	25d	1	0.81mi
2206 NW 17th Pl Cape Coral, FL	4.0	2.0	1779	$2,075	$1.17	25d	1	0.81mi
1818 Diplomat Pkwy W Cape Coral, FL	4.0	2.0	1787	$2,025	$1.13	25d	1	0.82mi
1926 NW 15th St Cape Coral, FL	3.0	2.0	1461	$2,100	$1.44	11d	1	0.86mi
2014 NW 16th Pl Cape Coral, FL	4.0	2.0	1712	$1,701	$0.99	15d	1	0.87mi
2812 NW 25th St Cape Coral, FL	4.0	2.0	1657	$1,950	$1.18	25d	1	0.90mi
1840 NW 14th Ter Cape Coral, FL	3.0	2.0	1994	$1,871	$0.94	4d	1	0.91mi
2800 NW 25th Ter Cape Coral, FL	3.0	2.0	1469	$2,000	$1.36	4d	1	0.92mi
2630 NW 23rd Ave Cape Coral, FL	3.0	2.0	1515	$2,299	$1.52	25d	1	0.92mi
1243 NW 22nd Ave Cape Coral, FL	3.0	2.0	1274	$2,195	$1.72	15d	1	0.93mi
1907 NW 26th St Cape Coral, FL	3.0	2.0	1842	$2,200	$1.19	15d	1	0.98mi
1731 NW 14th St Cape Coral, FL	4.0	2.0	1337	$1,866	$1.40	4d	1	1.02mi
1225 NW 26th Pl Cape Coral, FL	4.0	2.0	1993	$1,995	$1.00	25d	1	1.03mi
1208 NW 25th Pl Cape Coral, FL	4.0	2.0	1735	$2,200	$1.27	4d	1	1.07mi
1431 NW 20th Ter Cape Coral, FL	3.0	2.0	2052	$1,775	$0.87	20d	1	1.08mi
2824 NW 23rd Ave Cape Coral, FL	3.0	2.0	1462	$1,641	$1.12	22d	1	1.09mi
1719 NW 25th Ln Cape Coral, FL	4.0	2.0	1829	$2,291	$1.25	4d	1	1.10mi
1427 NW 20th St Cape Coral, FL	4.0	2.0	1617	$1,895	$1.17	17d	1	1.10mi
1150 NW 19th Pl Cape Coral, FL	4.0	2.0	1833	$1,895	$1.03	3d	1	1.10mi
2837 NW 24th Ave Cape Coral, FL	3.0	2.0	1286	$4,470	$3.48	25d	1	1.13mi
1818 NW 27th Ter Cape Coral, FL	4.0	2.0	1665	$1,975	$1.19	4d	1	1.13mi
1108 NW 21st Pl Cape Coral, FL	3.0	2.0	1666	$2,060	$1.24	25d	1	1.16mi
1129 NW 20th Ave Cape Coral, FL	4.0	2.0	1828	$2,200	$1.20	25d	1	1.17mi

Listing history 8 events

1. 2026-03-11
   status Pending
2. 2026-03-02
   listed $374,900 Active
3. 2025-12-16
   historical
4. 2025-05-16
   listed $414,900 Active
5. 2022-03-28
   soldstatus $344,800
6. 2012-02-15
   soldstatus $39,100
7. 2012-01-31
   soldstatus $5,400
8. 2004-09-07
   soldstatus $65,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,049 · $87/mo
• Projected year-2 tax: $3,112 · $259/mo
• Expected delta: +$2,063/yr (+$172/mo · 196.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $28,172
• − Mortgage interest: −$21,000
• − Property taxes: −$1,049
• − Insurance: −$2,672
• − Repairs & maintenance: −$2,254
• − Management: −$2,254
• − Depreciation: −$10,906
• Taxable loss: −$11,962
• Est. tax savings @ 24.0%: +$2,871
• After-tax cash flow: $-2,186/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 — Cape Coral

• Score: 77/100
• State rank: #208
• US rank: #3098

Category grades

Amenities B+ Commute F Cost of living B Crime B- Employment C+ Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Coral, FL
• County: Lee County · 788,662 people
• City population: 217,388
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 35,580
• Household income: $90,577
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 286.0

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 0.58)
• Race & ethnicity: White 57% Hispanic / Latino 30% Two or more races 21% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 17% Dominican 1%
• Common ancestry: Romanian 2% Hispanic 2% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 24% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -55.34%
• Current HPI: 337.0575
• Rent YoY: ▼ -5.51%
• 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

+468.9% since first listed

8 events — show timeline

• 2026-03-11 Pending — NAPLESMLS
• 2026-03-02 Listed $374,900 NAPLESMLS
• 2025-12-16 Listing Removed — FORTMLS
• 2025-05-16 Listed $414,900 FORTMLS
• 2022-03-28 Sold (Public Records) $344,800 Public Records
• 2012-02-15 Sold (Public Records) $39,100 Public Records
• 2012-01-31 Sold (Public Records) $5,400 Public Records
• 2004-09-07 Sold (Public Records) $65,900 Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,049 · +0.0% YoY. Source: county tax records.