116 Lucille Ave · Fort Myers, FL 33916

$179,000

4 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 77 Days on market

Built 1960 6,969 sqft lot Est $293k · 39% under

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Why this score? — see what drove the B- 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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +7.1/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors !! Take notice of this amazing property. Bank owned not a short sale​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ !!

Key facts

• Updated property
• Ceramic tiles floor
• Ceiling fans

Tags

• NEW ROOF
• UPDATED PROPERTY
• CERAMIC TILES FLOOR
• CEILING FANS
• WATER HEATER
• WELL MAINTAINED PROPERTY

Property features AI

Finance

• Other: Zoning: RS-7
• Financial info: Pets allowed
• HOA & community: No association fee; Non-gated community

Exterior

• Parking: Two parking spaces
• Security: No security features listed
• Utilities: Cable available; Public water; Public sewer
• Home design: Single-story; Entry level is 1; Faces south; Resale property
• Construction: Block, concrete and stucco construction; Shingle roof; Built as existing (resale) — year built not provided
• Exterior features: Patio; Rectangular lot; North exposure

Interior

• Kitchen: Range
• Bedrooms: No specific room types listed
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Unfurnished; Living/Dining room; Tub with shower
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.0% in Fort Myers — 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 (-4.3%/yr); 267 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,165/mo this rent would consume 49% of the median local household income ($53k/yr) (locally 2324% 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 $1k of loan paydown is wiped out by about $5k 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 77 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $122k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.87%
• DSCR: 1.48
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $292,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
142 Lucille Ave	0.15mi	4/2.0	1,582 (+13%)	11mo	$350,000	$221	62
332 Detroit Ave	0.58mi	3/2.0 (-1)	1,410 (+1%)	19mo	$295,000	$209	51
1152 Marsh Ave	0.49mi	3/1.0 (-1)	1,308 (-7%)	22mo	$142,000	$109	38

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-6,385
• Equity at exit: $26,689

10-year hold

• IRR: 2.4%
• Equity multiple: 1.15×
• Total profit: $7,339
• Equity at exit: $15,477

Cash invested: $50,120 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 267
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,165 high
• Mortgage (P&I): −$939
• Tax from tax record: −$243 /mo · $2,918/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $454

Break-even live

Break-even rent $1,590

Max offer price $179,000

Occupancy floor 74%

Sensitivity live

Price	-10% $555	-5% $505	+0% $454	+5% $403	+10% $353
Rent	-10% $283	-5% $369	+0% $454	+5% $540	+10% $625
Rate	-1.0pp $544	-0.5pp $500	base $454	+0.5pp $408	+1.0pp $361

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1775 Glenway Ct Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	24d	1	0.50mi
8 Roanoke Dr Fort Myers, FL	3.0	2.0	1056	$1,495	$1.42	22d	1	0.57mi
3616 Pearl St Unit 1 Fort Myers, FL	3.0	2.0	1200	$1,175	$0.98	4d	1	0.87mi
2132 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	24d	1	0.88mi
2197 Davis Ct Fort Myers, FL	4.0	2.0	1257	$2,450	$1.95	4d	1	0.90mi
3870 Calle De Jardin Fort Myers, FL	1.0–3.0	1.0–2.0	952	$1,445	$1.52	24d	1	0.94mi
2188 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	24d	1	0.94mi
3323 Michigan Ave Fort Myers, FL	3.0	2.0	1029	$1,600	$1.55	22d	1	0.99mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	3d	1	1.12mi
2103 French St Unit 2 Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	24d	1	1.12mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,900	$1.73	24d	1	1.12mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	2d	1	1.12mi
4434 Armeda Ave Fort Myers, FL	3.0	2.0	1852	$1,740	$0.94	4d	1	1.20mi
2225 Carver Ave Fort Myers, FL	3.0	2.0	1193	$2,200	$1.84	24d	1	1.32mi
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$2,021	$2.05	3d	34	1.32mi
3306 Bassie Ct Fort Myers, FL	4.0	2.0	1257	$2,100	$1.67	24d	1	1.37mi
1270 Allen St Unit B Fort Myers, FL	3.0	2.0	1085	$1,700	$1.57	24d	1	1.39mi
2218 Quality Life Center Way Fort Myers, FL	4.0	2.0	1257	$2,250	$1.79	24d	1	1.41mi
3341 Willard St Fort Myers, FL	4.0	2.0	1619	$2,500	$1.54	20d	1	1.45mi
3341 Willard St Fort Myers, FL	4.0	2.0	1257	$2,500	$1.99	17d	1	1.45mi
3933 E River Dr Fort Myers, FL	3.0	2.0	1468	$3,500	$2.38	24d	1	1.48mi
3034 Price Ave Fort Myers, FL	3.0	2.0	1367	$2,100	$1.54	4d	1	1.48mi

Listing history 11 events

1. 2026-05-12
   status Pending
2. 2026-04-06
   price $179,000
3. 2026-02-24
   listed $189,000 Active
4. 2024-02-16
   soldstatus $122,500
5. 2009-05-11
   soldstatus $15,000 183-char remark

   Show marketing remark (183 chars)

   Attention investors !! Take notice of this amazing property. Bank owned not a short sale​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ !!

6. 2009-03-23
   price $19,500 183-char remark

   Show marketing remark (183 chars)

   Attention investors !! Take notice of this amazing property. Bank owned not a short sale​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ !!

7. 2006-05-10
   soldstatus $149,900
8. 2005-02-24
   soldstatus $45,000
9. 1999-10-05
   soldstatus $15,300
10. 1997-07-23
    soldstatus $13,000
11. 1971-10-01
    soldstatus $15,300

ⓘ 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: $2,918 · $243/mo
• Projected year-2 tax: $2,918 · $243/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $25,983
• − Mortgage interest: −$10,027
• − Property taxes: −$2,918
• − Insurance: −$895
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − Depreciation: −$5,207
• Taxable income: $2,778
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $4,782/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ 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: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

+1069.9% since first listed

11 events — show timeline

• 2026-05-12 Pending — FORTMLS
• 2026-04-06 Price Changed $179,000 FORTMLS
• 2026-02-24 Listed $189,000 FORTMLS
• 2024-02-16 Sold (Public Records) $122,500 Public Records
• 2009-05-11 Sold (MLS) $15,000 FORTMLS
• 2009-03-23 Price Changed $19,500 FORTMLS
• 2006-05-10 Sold (Public Records) $149,900 Public Records
• 2005-02-24 Sold (Public Records) $45,000 Public Records
• 1999-10-05 Sold (Public Records) $15,300 Public Records
• 1997-07-23 Sold (Public Records) $13,000 Public Records
• 1971-10-01 Sold (Public Records) $15,300 Public Records

Property tax history

+24.0%/yr

Latest (2025): $2,918 · -6.0% YoY. Source: county tax records.