514 Pennview Ave · Lehigh Acres, FL 33936

$199,000

2 bd · 2.0 ba · 1,209 sqft · SingleFamily public records · 52 Days on market

Built 1976 10,837 sqft lot Est $230k · 13% under

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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 +13.9/30.0
• ARV discount +13.5/15.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Lehigh classic Gardenia model located in popular Willow Lake South. Under ground utilities, wide curbed streets and city utilities are unique to this neighborhood. Super convenient location with schools nearby. The home is clean and neat, with a nice sized laundry room. New shingle roof in 2022, AC in 2019 and water heater in 2020. The pie shaped lot offers a big back yard to enjoy. NO FLOOD INSURANCE REQUIRED.

Key facts

• City utilities
• Schools nearby
• Gardenia model

Tags

• GARDENIA MODEL
• UNDERGROUND UTILITIES
• CURBED STREETS
• CITY UTILITIES
• SCHOOLS NEARBY
• LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $23 ($276/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (21.9% below list).
• Recommended offer: $155k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 soft (-0.8%/yr); 644 active listings in the ZIP; 40 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).
• This rent runs 36% of the median local income ($51k/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 $1k of loan paydown is wiped out by about $6k 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 52 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $199k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,415 (21.9% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.78% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $229,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Richmond Ave S	0.06mi	3/2.0 (+1)	1,268 (+5%)	8mo	$230,000	$181	78
230 Highview Ave	0.41mi	2/2.0	1,212 (+0%)	9mo	$230,000	$190	73
210 Highview Ave	0.29mi	2/2.0	1,176 (-3%)	12mo	$220,000	$187	72
228 Highview Ave	0.39mi	2/2.0	1,148 (-5%)	3mo	$220,000	$192	71
532 Pennview Ave	0.14mi	3/2.0 (+1)	1,320 (+9%)	19mo	$285,000	$216	57
106 Lincoln Ave	0.41mi	2/2.0	1,274 (+5%)	19mo	$265,000	$208	56
110 Texas Rd	0.52mi	3/1.0 (+1)	1,118 (-8%)	1mo	$190,000	$170	53
14 Greenwood Ave	0.27mi	2/2.0	1,372 (+14%)	15mo	$219,900	$160	52
204 Roat St	0.62mi	3/2.0 (+1)	1,284 (+6%)	7mo	$255,000	$199	50
108 Starview Ave	0.54mi	3/2.0 (+1)	1,341 (+11%)	9mo	$245,000	$183	44
16 Louisiana Rd	0.71mi	3/2.0 (+1)	1,131 (-6%)	10mo	$235,000	$208	43
603 Weston Rd	0.65mi	3/2.0 (+1)	1,317 (+9%)	14mo	$250,000	$190	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: -18.6%
• Equity multiple: 0.36×
• Total profit: $-35,419
• Equity at exit: $29,672

10-year hold

• IRR: -17.4%
• Equity multiple: 0.16×
• Total profit: $-46,889
• Equity at exit: $17,206

Cash invested: $55,720 (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 33936

• Home prices YoY: -19.9%
• Rents YoY: -0.8%
• Active inventory: 644
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,554 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $23

Break-even live

Break-even rent $1,525

Max offer price $199,000

Occupancy floor 94%

Sensitivity live

Price	-10% $136	-5% $79	+0% $23	+5% $-33	+10% $-90
Rent	-10% $-100	-5% $-38	+0% $23	+5% $84	+10% $146
Rate	-1.0pp $123	-0.5pp $74	base $23	+0.5pp $-29	+1.0pp $-81

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Highview Ave Lehigh Acres, FL	3.0	2.0	1495	$1,860	$1.24	4d	1	0.20mi
222 Ground Dove Cir Lehigh Acres, FL	3.0	2.0	1417	$1,695	$1.20	12d	1	0.39mi
110 Texas Rd Lehigh Acres, FL	3.0	1.0	1118	$1,750	$1.57	17d	1	0.53mi
217 Jayview Ave Lehigh Acres, FL	3.0	2.0	1491	$1,600	$1.07	16d	1	0.54mi
106 Leeland Heights Blvd W Lehigh Acres, FL	1.0	1.0	794	$1,450	$1.83	25d	1	0.55mi
202 Eaglesmere Dr Lehigh Acres, FL	3.0	2.0	1443	$1,600	$1.11	4d	1	0.57mi
202 Eaglesmere Dr Lehigh Acres, FL	3.0	2.0	1443	$1,695	$1.17	25d	1	0.57mi
201 Fireside Ct Unit N/A Lehigh Acres, FL	2.0	2.0	1370	$1,675	$1.22	4d	1	0.64mi
201 Fireside Ct Lehigh Acres, FL	2.0	2.0	1370	$1,550	$1.13	4d	1	0.64mi
1101 Leeland Heights Blvd E Lehigh Acres, FL	3.0	2.0	1250	$1,350	$1.08	17d	1	0.65mi
305 Bougainvillea Rd W Lehigh Acres, FL	1.0	1.0	742	$1,295	$1.75	25d	1	0.76mi
241 Thistle Ct Lehigh Acres, FL	2.0	2.0	1376	$1,195	$0.87	25d	1	0.88mi
503 Penn Rd W Lehigh Acres, FL	3.0	2.0	1256	$1,750	$1.39	15d	1	0.88mi
102 Connecticut Rd Lehigh Acres, FL	2.0	1.0	816	$1,300	$1.59	25d	1	0.90mi
3 Desert Candle Cir Lehigh Acres, FL	2.0	2.0	853	$1,200	$1.41	25d	1	0.98mi
6 Aztec Lily Ln Lehigh Acres, FL	2.0	2.0	853	$1,500	$1.76	21d	1	0.99mi
6 Aztec Lily Ln Lehigh Acres, FL	2.0	2.0	853	$2,600	$3.05	25d	1	0.99mi
704 W Cleveland Ln Lehigh Acres, FL	2.0	1.0	816	$1,400	$1.72	25d	1	1.02mi
718 Sunrise Blvd Lehigh Acres, FL	3.0	2.0	1100	$1,610	$1.46	25d	1	1.07mi
10738 Cocoatree Ct Lehigh Acres, FL	3.0	2.0	1220	$1,600	$1.31	3d	1	1.07mi
216 Oregon Way Lehigh Acres, FL	3.0	1.0	920	$1,250	$1.36	23d	1	1.13mi
347 Richland Rd Lehigh Acres, FL	2.0	2.0	1040	$1,150	$1.11	25d	1	1.14mi
198 Joel Blvd #6 Lehigh Acres, FL	2.0	2.0	1036	$1,200	$1.16	4d	1	1.17mi
19480 Poppytree Ct Lehigh Acres, FL	3.0	2.0	1334	$1,750	$1.31	25d	1	1.21mi
10525 Putnam Ct Lehigh Acres, FL	2.0	2.0	1014	$1,250	$1.23	21d	1	1.25mi
10554 Quincy Ct Lehigh Acres, FL	2.0	2.0	1004	$1,300	$1.29	20d	1	1.32mi
10578 Quincy Ct Unit 1 Lehigh Acres, FL	2.0	2.0	899	$1,275	$1.42	25d	1	1.33mi
1000 Monroe Dr Lehigh Acres, FL	3.0	2.0	984	$1,650	$1.68	25d	1	1.35mi
10625 Windsmont Ct Lehigh Acres, FL	3.0	2.0	1080	$1,350	$1.25	25d	1	1.36mi
26 Alabama Rd S Lehigh Acres, FL	2.0	1.0	920	$1,650	$1.79	23d	1	1.36mi
44 Tangelo Ct Lehigh Acres, FL	2.0	2.0	812	$1,150	$1.42	4d	1	1.37mi
107 W 5th St Lehigh Acres, FL	2.0	2.0	832	$1,450	$1.74	4d	1	1.38mi
47 Tangelo Ct Lehigh Acres, FL	2.0	2.0	812	$1,150	$1.42	25d	1	1.39mi
46 Hamlin Ct Lehigh Acres, FL	2.0	2.0	812	$1,050	$1.29	25d	1	1.40mi
9 Hamlin Ct Lehigh Acres, FL	1.0	1.5	807	$950	$1.18	4d	1	1.42mi
201 Alabama Rd S Lehigh Acres, FL	3.0	1.0	920	$1,275	$1.39	4d	1	1.43mi
10 Tangerine Ct Lehigh Acres, FL	2.0	2.0	812	$1,200	$1.48	20d	1	1.44mi
351 Ranchito Ave Lehigh Acres, FL	3.0	2.5	1500	$2,000	$1.33	25d	1	1.47mi
321 Dania St Lehigh Acres, FL	2.0	2.0	915	$1,800	$1.97	25d	1	1.49mi
1113 Vineyard St Lehigh Acres, FL	3.0	2.0	1004	$1,500	$1.49	25d	1	1.49mi

Listing history 5 events

1. 2026-03-27
   status Pending
2. 2026-03-25
   price $199,000
3. 2026-02-19
   price $209,000
4. 2026-02-03
   listed $229,000 Active
5. 1998-06-09
   soldstatus $67,600

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$712/yr (+$59/mo · 75.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $18,650
• − Mortgage interest: −$11,147
• − Property taxes: −$940
• − Insurance: −$995
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$5,789
• Taxable loss: −$3,205
• Est. tax savings @ 24.0%: +$769
• After-tax cash flow: $1,045/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): 27,967
• Household income: $51,417
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 1027.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 44% White 41% Two or more races 21% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 9% Cuban 18% Dominican 2%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 1%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 36% French/Haitian/Cajun 3% Tagalog/Filipino 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: ▼ -86.78%
• Current HPI: 348.8631
• Rent YoY: ▼ -0.77%
• 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

+194.4% since first listed

5 events — show timeline

• 2026-03-27 Pending — FORTMLS
• 2026-03-25 Price Changed $199,000 FORTMLS
• 2026-02-19 Price Changed $209,000 FORTMLS
• 2026-02-03 Listed $229,000 FORTMLS
• 1998-06-09 Sold (Public Records) $67,600 Public Records

Property tax history

+5.8%/yr

Latest (2025): $940 · +9.4% YoY. Source: county tax records.