987 Edgerton Ave · Lehigh Acres, FL 33974

$320,000

3 bd · 2.0 ba · 1,501 sqft · Land · 151 Days on market

Built 2024 10,066 sqft 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 +8.3/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0
• Rent growth +1.3/5.0

Listing remarks

Beautiful new construction in Lehigh Acres featuring 3 bedroom and 2 bathroom. Open floor plan, modern finishes, and a spacious primary suite. Perfect for first-time home buyers! Conveniently located close to SR-82, offering easy access to Fort Myers, shopping, and dinning. Seller willing to contribute with closing costs. All appliances will be install prior to closing.

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 2024

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee; Association covers road maintenance; Non-gated community

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Security/high impact doors
• Utilities: Well water; Septic tank; Cable not available
• Home design: Single-story; New construction; Entry level: 0; Faces northwest; Zoning: RS-1
• Construction: Block, concrete and stucco construction; Shingle roof; Built as new construction
• Exterior features: Security/high impact doors; Lot exposures to the southeast; Lot dimensions: 82 x 125 x 80 x 125

Interior

• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Impact glass windows; Living/dining room; Pantry; Separate shower; Shower only; Walk-in closet(s); Split bedrooms; Unfurnished
• Laundry & utility: Laundry inside; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $320k.

Deal economics

• At list price, monthly cash flow is $-294 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (37.3% below list).
• Recommended offer: $201k (37.3% 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+, 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 (-4.7%/yr); 2476 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 33% 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 $34k of equity ($2k loan paydown + $32k 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 ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $320k implies a 1729% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,609 (37.3% 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 151 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: 5.19%
• Cash-on-cash: -3.94%
• DSCR: 0.82
• GRM: 13.3

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: 20.7%
• Equity multiple: 2.67×
• Total profit: $149,503
• Equity at exit: $288,281

10-year hold

• IRR: 18.3%
• Equity multiple: 5.96×
• Total profit: $444,114
• Equity at exit: $621,690

Cash invested: $89,600 (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: 2476
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,006 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-294

Break-even live

Break-even rent $2,378

Max offer price $268,066

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-203	+0% $-294	+5% $-385	+10% $-475
Rent	-10% $-452	-5% $-373	+0% $-294	+5% $-215	+10% $-136
Rate	-1.0pp $-133	-0.5pp $-213	base $-294	+0.5pp $-377	+1.0pp $-461

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
941 Elgin St Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	25d	1	0.15mi
936 Eisenhower Blvd Lehigh Acres, FL	3.0	2.0	1300	$1,395	$1.07	5d	1	0.16mi
915 Graystone Ave Lehigh Acres, FL	3.0	2.0	1115	$1,525	$1.37	16d	1	0.26mi
1018 Garnet Ave Lehigh Acres, FL	3.0	2.0	1381	$1,575	$1.14	25d	1	0.43mi
936 Joponica Ave S Lehigh Acres, FL	4.0	2.0	2101	$2,500	$1.19	25d	1	0.51mi
1089 Eisenhower Blvd Lehigh Acres, FL	4.0	2.0	1639	$2,000	$1.22	5d	1	0.52mi
1135 Harvest Ave Unit A Lehigh Acres, FL	2.0	2.0	1150	$1,450	$1.26	16d	1	0.62mi
1028 Eubanks St Lehigh Acres, FL	3.0	3.0	1200	$1,950	$1.62	18d	1	0.62mi
1107 Enrique St E Lehigh Acres, FL	3.0	2.0	1363	$1,800	$1.32	25d	1	0.64mi
827 Eisenhower Blvd Lehigh Acres, FL	3.0	2.5	1640	$1,780	$1.09	13d	1	0.69mi
819 Eisenhower Blvd Unit 819 Lehigh Acres, FL	3.0	2.0	1390	$1,650	$1.19	25d	1	0.73mi
847 Genoa Ave Lehigh Acres, FL	3.0	2.0	1600	$2,000	$1.25	5d	1	0.79mi
927 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	25d	1	0.82mi
925 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	25d	1	0.82mi
828 Genoa Ave S Lehigh Acres, FL	4.0	2.5	1632	$2,400	$1.47	25d	1	0.85mi
907 Chenault St Lehigh Acres, FL	2.0	4.0	1200	$1,250	$1.04	16d	1	0.85mi
1051 Marine Ave S Lehigh Acres, FL	3.0	2.0	1057	$1,800	$1.70	25d	1	0.89mi
930 Ainsworth St W Lehigh Acres, FL	3.0	2.0	1165	$1,395	$1.20	18d	1	0.90mi
1076 Gunby Ave S Lehigh Acres, FL	3.0	2.0	1258	$2,100	$1.67	25d	1	0.91mi
1111 Gunby Ave S Unit S Lehigh Acres, FL	3.0	2.0	1546	$2,200	$1.42	4d	1	0.97mi
761 Kirkman Ave S Lehigh Acres, FL	3.0	2.0	1188	$1,900	$1.60	25d	1	1.02mi
1121 Deauville St E Lehigh Acres, FL	3.0	2.0	1698	$2,100	$1.24	25d	1	1.04mi
756 Holmes Ave Lehigh Acres, FL	3.0	2.0	1100	$1,450	$1.32	12d	1	1.05mi
1125 Deauville St E Lehigh Acres, FL	3.0	2.0	1292	$1,900	$1.47	5d	1	1.06mi
1129 Deauville St E Lehigh Acres, FL	3.0	2.0	1698	$2,100	$1.24	25d	1	1.08mi
826 Dawhert Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	5d	1	1.10mi
934 Marilyn Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	13d	1	1.10mi
934 Marilyn Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	4d	1	1.10mi
1142 Dutchess St E Lehigh Acres, FL	4.0	2.5	1632	$2,400	$1.47	25d	1	1.13mi
1150 Darling St E Lehigh Acres, FL	3.0	2.0	1292	$1,800	$1.39	25d	1	1.13mi
762 Gallo Ave S #764 Lehigh Acres, FL	3.0	2.0	1127	$1,195	$1.06	23d	1	1.15mi
750 Newhall St E Lehigh Acres, FL	3.0	2.0	1147	$1,675	$1.46	21d	1	1.18mi
750 Newhall St E Lehigh Acres, FL	3.0	2.0	1147	$1,675	$1.46	25d	1	1.18mi
730 Holmes Ave Unit 728 Lehigh Acres, FL	3.0	2.0	1080	$1,500	$1.39	13d	1	1.19mi
760 Festival Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	25d	1	1.19mi
737 Almelia St E Lehigh Acres, FL	3.0	2.0	1404	$1,745	$1.24	23d	1	1.19mi
763 Puccini Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	5d	1	1.23mi
736 Barcia St E Lehigh Acres, FL	4.0	2.0	1833	$1,775	$0.97	25d	1	1.26mi
814 Crystal Ave S Lehigh Acres, FL	3.0	2.0	1865	$1,815	$0.97	25d	1	1.27mi
711 Nimitz Blvd Lehigh Acres, FL	4.0	2.0	1571	$2,191	$1.39	5d	1	1.39mi

Listing history 35 events

1. 2026-06-22
   days on market $320,000 Active 151 DOM
2. 2026-06-17
   days on market $320,000 Active 147 DOM
3. 2026-06-16
   days on market $320,000 Active 146 DOM
4. 2026-06-15
   days on market $320,000 Active 145 DOM
5. 2026-06-13
   days on market $320,000 Active 143 DOM
6. 2026-06-10
   days on market $320,000 Active 140 DOM
7. 2026-06-09
   days on market $320,000 Active 139 DOM
8. 2026-06-07
   days on market $320,000 Active 137 DOM
9. 2026-06-02
   days on market $320,000 Active 132 DOM
10. 2026-06-01
    days on market $320,000 Active 131 DOM
11. 2026-06-01
    days on market $320,000 Active 130 DOM
12. 2026-03-14
    price $320,000
13. 2026-01-19
    listed $340,000 Active
14. 2026-01-09
    historical
15. 2025-10-15
    listed $340,000 Active
16. 2025-10-08
    historical $2,400
17. 2025-10-03
    historical
18. 2025-10-03
    historical
19. 2025-09-18
    price $340,000
20. 2025-09-18
    price $340,000
21. 2025-07-16
    listed $2,400
22. 2025-07-15
    listed $370,000 Active
23. 2025-07-15
    listed $370,000 Active
24. 2025-07-14
    historical
25. 2025-06-02
    listed $370,000 Active
26. 2024-02-15
    soldstatus $17,500
27. 2024-02-14
    soldstatus $17,500 Sold
28. 2024-02-01
    status Pending
29. 2023-12-11
    status Active
30. 2023-12-04
    status Pending
31. 2023-10-26
    status Active
32. 2023-09-19
    status Pending
33. 2023-09-13
    price $17,900
34. 2023-09-08
    listed $16,900 Active
35. 1981-05-01
    soldstatus $5,200

ⓘ 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: $808 · $67/mo
• Projected year-2 tax: $2,656 · $221/mo
• Expected delta: +$1,848/yr (+$154/mo · 228.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 27 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: $24,073
• − Mortgage interest: −$17,925
• − Property taxes: −$808
• − Insurance: −$1,600
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$9,309
• Taxable loss: −$9,421
• Est. tax savings @ 24.0%: +$2,261
• After-tax cash flow: $-1,267/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

+6053.8% since first listed

24 events — show timeline

• 2026-03-14 Price Changed $320,000 FORTMLS
• 2026-01-19 Listed $340,000 FORTMLS
• 2026-01-09 Listing Removed — FORTMLS
• 2025-10-15 Listed $340,000 FORTMLS
• 2025-10-08 Rental Removed $2,400 FORTMLS
• 2025-10-03 Listing Removed — MARMLS
• 2025-10-03 Listing Removed — FORTMLS
• 2025-09-18 Price Changed $340,000 FORTMLS
• 2025-09-18 Price Changed $340,000 MARMLS
• 2025-07-16 Listed for Rent $2,400 FORTMLS
• 2025-07-15 Listed $370,000 MARMLS
• 2025-07-15 Listed $370,000 FORTMLS
• 2025-07-14 Listing Removed — MARMLS
• 2025-06-02 Listed $370,000 MARMLS
• 2024-02-15 Sold (Public Records) $17,500 Public Records
• 2024-02-14 Sold (MLS) $17,500 NAPLESMLS
• 2024-02-01 Pending — NAPLESMLS
• 2023-12-11 Relisted — NAPLESMLS
• 2023-12-04 Pending — NAPLESMLS
• 2023-10-26 Relisted — NAPLESMLS
• 2023-09-19 Pending — NAPLESMLS
• 2023-09-13 Price Changed $17,900 NAPLESMLS
• 2023-09-08 Listed $16,900 NAPLESMLS
• 1981-05-01 Sold (Public Records) $5,200 Public Records

Property tax history

+60.5%/yr

Latest (2025): $808 · +135.6% YoY. Source: county tax records.