861 Bancroft · Lehigh Acres, FL 33974

$374,999

4 bd · 3.0 ba · 2,100 sqft · Land · 55 Days on market

Built 2026

---

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 +5.1/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

Key facts

• 2 garage spots
• Built 2026
• Listed 55 days

Property features AI

Exterior

• Parking: 2-car garage; Driveway; 2 covered parking spaces
• Security: Security/high-impact doors
• Utilities: Septic tank; Well water
• Home design: Single-story; New construction; Faces west
• Construction: Block construction; Shingle roof
• Exterior features: Security/high-impact doors; Exterior lighting; Porch; Open patio/porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Laminate; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Impact glass windows; Family/dining room; First-floor entry; Walk-in closet(s); Florida room
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $375k.

Deal economics

• At list price, monthly cash flow is $-941 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (36.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (42.0% below list).
• Recommended offer: $217k (42.0% below list) — sets the bar for 1% rule.
• Cap rate 3.5% 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+, 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; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• In year one you build about $40k of equity ($3k loan paydown + $38k 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 ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $15k; list at $375k implies a 2400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $217,355 (42.0% 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 55 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.58% ✗
• Cap rate: 3.49%
• Cash-on-cash: -9.99%
• DSCR: 0.56
• GRM: 14.4

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: 16.1%
• Equity multiple: 2.31×
• Total profit: $138,013
• Equity at exit: $337,829

10-year hold

• IRR: 15.0%
• Equity multiple: 5.21×
• Total profit: $442,290
• Equity at exit: $728,541

Cash invested: $105,000 (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: 14.4×

Monthly cashflow live

• Estimated rent: $2,174 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $-941

Break-even live

Break-even rent $3,365

Max offer price $238,851

Occupancy floor —

Sensitivity live

Price	-10% $-682	-5% $-811	+0% $-941	+5% $-1,070	+10% $-1,200
Rent	-10% $-1,113	-5% $-1,027	+0% $-941	+5% $-855	+10% $-769
Rate	-1.0pp $-752	-0.5pp $-846	base $-941	+0.5pp $-1,038	+1.0pp $-1,137

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
851 Eisenhower Blvd Lehigh Acres, FL	3.0	2.0	2330	$1,450	$0.62	12d	1	0.19mi
851 Bedford Dr Lehigh Acres, FL	3.0	2.0	2364	$1,600	$0.68	25d	1	0.25mi
827 Eisenhower Blvd Lehigh Acres, FL	3.0	2.5	1640	$1,780	$1.09	13d	1	0.27mi
828 Genoa Ave S Lehigh Acres, FL	4.0	2.5	1632	$2,400	$1.47	25d	1	0.37mi
847 Genoa Ave Lehigh Acres, FL	3.0	2.0	1600	$2,000	$1.25	5d	1	0.39mi
941 Elgin St Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	25d	1	0.59mi
936 Joponica Ave S Lehigh Acres, FL	4.0	2.0	2101	$2,500	$1.19	25d	1	0.85mi
934 Marilyn Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	13d	1	0.89mi
934 Marilyn Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	3d	1	0.89mi
1089 Eisenhower Blvd Lehigh Acres, FL	4.0	2.0	1639	$2,000	$1.22	5d	1	0.97mi
765 Aprile Ave S Lehigh Acres, FL	4.0	2.0	1712	$2,100	$1.23	3d	1	1.06mi
760 Festival Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	25d	1	1.12mi
1137 Edgerton Ave Lehigh Acres, FL	3.0	2.0	2394	$1,800	$0.75	3d	1	1.12mi
862 Charles Sise St E Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	25d	1	1.15mi
1147 Antonio St E Lehigh Acres, FL	3.0	2.0	1713	$2,300	$1.34	3d	1	1.17mi
751 Milano Ave S Lehigh Acres, FL	4.0	3.0	2263	$2,500	$1.10	3d	1	1.17mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	4d	1	1.19mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	5d	1	1.19mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	23d	1	1.19mi
708 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	23d	1	1.20mi
908 Winters St E Lehigh Acres, FL	3.0	2.0	1639	$2,200	$1.34	12d	1	1.27mi
814 Crystal Ave S Lehigh Acres, FL	3.0	2.0	1865	$1,815	$0.97	25d	1	1.31mi
1121 Deauville St E Lehigh Acres, FL	3.0	2.0	1698	$2,100	$1.24	25d	1	1.33mi
1129 Deauville St E Lehigh Acres, FL	3.0	2.0	1698	$2,100	$1.24	25d	1	1.35mi
1142 Dutchess St E Lehigh Acres, FL	4.0	2.5	1632	$2,400	$1.47	25d	1	1.36mi
928 Milwaukee Blvd Lehigh Acres, FL	4.0	2.0	1719	$1,990	$1.16	25d	1	1.38mi
637 Montclair Ave S Lehigh Acres, FL	3.0	2.0	1497	$1,660	$1.11	25d	1	1.44mi
1111 Gunby Ave S Unit S Lehigh Acres, FL	3.0	2.0	1546	$2,200	$1.42	3d	1	1.45mi

Listing history 15 events

1. 2026-05-07
   status Pending

   Show marketing remark (436 chars)

   Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

2. 2026-05-07
   status Pending With Contingencies 436-char remark

   Show marketing remark (436 chars)

   Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

3. 2026-04-03
   price $374,999 436-char remark

   Show marketing remark (436 chars)

   Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

4. 2026-04-03
   price $374,999

   Show marketing remark (436 chars)

   Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

5. 2026-03-14
   price $390,000 436-char remark

   Show marketing remark (436 chars)

   Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

6. 2026-03-13
   listed $390,000 Active
7. 2026-02-05
   listed $399,000 Active 436-char remark

   Show marketing remark (436 chars)

   Beautiful new construction home featuring 4 bedrooms and 3 bathrooms with 2,100 sq ft of living space and nearly 3,000 sq ft total near SR82 with NO HOA. The luxurious primary suite offers a walk-around shower with dual shower heads, dual sinks, makeup vanity, tub/shower combo, and two walk-in closets. Gold accents throughout add a modern, upscale touch. Enjoy a spacious layout and a large patio perfect for entertaining or relaxing.

8. 2023-11-28
   soldstatus $15,000
9. 2023-04-13
   soldstatus $10,000
10. 2023-03-21
    soldstatus $70,000
11. 2009-10-09
    soldstatus $18,400
12. 2004-10-05
    soldstatus $8,200
13. 2004-10-05
    soldstatus $11,000
14. 2004-08-12
    soldstatus $8,200
15. 1987-11-10
    soldstatus $8,000

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $26,083
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$2,672
• − Repairs & maintenance: −$2,087
• − Management: −$2,087
• − Depreciation: −$10,909
• Taxable loss: −$18,303
• Est. tax savings @ 24.0%: +$4,393
• After-tax cash flow: $-6,898/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

+4587.5% since first listed

15 events — show timeline

• 2026-05-07 Pending — MARMLS
• 2026-05-07 Pending — NAPLESMLS
• 2026-04-03 Price Changed $374,999 NAPLESMLS
• 2026-04-03 Price Changed $374,999 MARMLS
• 2026-03-14 Price Changed $390,000 NAPLESMLS
• 2026-03-13 Listed $390,000 MARMLS
• 2026-02-05 Listed $399,000 NAPLESMLS
• 2023-11-28 Sold (Public Records) $15,000 Public Records
• 2023-04-13 Sold (Public Records) $10,000 Public Records
• 2023-03-21 Sold (Public Records) $70,000 Public Records
• 2009-10-09 Sold (Public Records) $18,400 Public Records
• 2004-10-05 Sold (Public Records) $11,000 Public Records
• 2004-10-05 Sold (Public Records) $8,200 Public Records
• 2004-08-12 Sold (Public Records) $8,200 Public Records
• 1987-11-10 Sold (Public Records) $8,000 Public Records

Property tax history

+16.5%/yr

Latest (2025): $436 · +9.4% YoY. Source: county tax records.