688 Manhattan St E · Lehigh Acres, FL 33974

$315,000

3 bd · 2.0 ba · 1,553 sqft · SingleFamily public records · 13 Days on market

Built 2022 10,619 sqft lot Est $343k · 8% 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).

• ARV discount +11.2/15.0
• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Rent growth +1.3/5.0
• DSCR +1.1/10.0

Listing remarks MLS

This is new construction and 100% completed. The hottest new builder in Lehigh Acres is now offering The Sophia Plan – 1551. sq. Ft. incorporating upscale designer finishes & features with a thoughtful architectural layout to satisfy a variety of lifestyles. 3 bdrms/2 baths “show stopper” master en-suite with his/her sinks, make-up vanity, oversized shower and private dressing room with windows. Open concept kitchen/bar seating and stainless-steel appliances complete this modern home. Clearly making a statement, The Sophia takes it to the next level of expectation. There is nothing like this one in the market. It will not stay for long and agents must take your clients to see this beautiful home. There is nothing like this one in the market. It will not stay for long and agents must take your clients to see this beautiful home.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2022

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee listed

Exterior

• Parking: Attached garage; 2 covered garage spaces (2-car)
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story; Resale property; North-facing
• Construction: Block, concrete, and stucco construction; Shingle roof; Built on standard foundation
• Exterior features: Patio; Rectangular lot; Lot exposures to the south

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: No specific room types listed
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: French doors / atrium doors; Living / dining room; Separate shower; Shower only; Cable TV; Walk-in closet(s); Split bedrooms; Single-hung windows; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-474 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (21.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (31.6% below list).
• Recommended offer: $216k (31.6% 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+, schools D-.
• 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 (-4.7%/yr); 2460 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 36% 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 ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago 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

• 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 $215,509 (31.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.68% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.45%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $343,213
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
684 Kingsbury St E	0.07mi	4/3.0 (+1)	1,719 (+11%)	4mo	$380,000	$221	66
743 Grant Blvd	0.70mi	3/2.0	1,595 (+3%)	8mo	$295,000	$185	56
615 Chavers St	0.56mi	3/2.0	1,408 (-9%)	2mo	$250,000	$178	56
802 Kingsbury Ct	0.60mi	4/2.0 (+1)	1,500 (-3%)	8mo	$285,000	$190	55
745 David Laird Ln	0.39mi	3/3.0	1,722 (+11%)	11mo	$550,000	$319	51
510 Frank Jewett Ave S	0.33mi	3/2.0	1,325 (-15%)	12mo	$315,000	$238	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.53×
• Total profit: $135,061
• Equity at exit: $283,777

10-year hold

• IRR: 17.0%
• Equity multiple: 5.65×
• Total profit: $410,248
• Equity at exit: $611,976

Cash invested: $88,200 (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: 2460
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,155 high
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $-474

Break-even live

Break-even rent $2,756

Max offer price $246,357

Occupancy floor —

Sensitivity live

Price	-10% $-257	-5% $-366	+0% $-474	+5% $-583	+10% $-692
Rent	-10% $-645	-5% $-559	+0% $-474	+5% $-389	+10% $-304
Rate	-1.0pp $-316	-0.5pp $-394	base $-474	+0.5pp $-556	+1.0pp $-639

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
541 Chalet Ave S Lehigh Acres, FL	4.0	3.0	1650	$2,400	$1.45	24d	1	0.12mi
546 Whispering Wind Bnd Lehigh Acres, FL	3.0	2.0	1437	$1,950	$1.36	2d	1	0.12mi
567 Charwood Ave S Lehigh Acres, FL	3.0	2.0	1564	$1,900	$1.21	15d	1	0.14mi
606 Morningmist Ln Lehigh Acres, FL	4.0	2.5	1817	$2,295	$1.26	4d	1	0.33mi
598 Aston Lake Ct Lehigh Acres, FL	3.0	2.0	1703	$2,395	$1.41	22d	1	0.35mi
515 Croydon Ave S Lehigh Acres, FL	3.0	3.0	1253	$2,200	$1.76	4d	1	0.37mi
510 Caywood Ave S Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	24d	1	0.47mi
720 Chavers St Lehigh Acres, FL	3.0	2.0	1547	$2,200	$1.42	24d	1	0.51mi
406 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	24d	1	0.57mi
404 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	24d	1	0.58mi
573 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1218	$1,900	$1.56	15d	1	0.61mi
604 Thomas Sherwin Ave S Lehigh Acres, FL	4.0	2.0	1493	$2,200	$1.47	4d	1	0.63mi
520 Creuset Ave S Lehigh Acres, FL	2.0	2.0	1050	$1,700	$1.62	24d	1	0.67mi
397 Carrillon Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,550	$1.29	4d	1	0.69mi
684 Thomas Sherwin Ave S Lehigh Acres, FL	3.0	2.0	1288	$1,695	$1.32	4d	1	0.69mi
645 Homestead Rd S Lehigh Acres, FL	3.0	2.0	1165	$1,700	$1.46	24d	1	0.70mi
508 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	24d	1	0.71mi
530 Kilgour Ave Lehigh Acres, FL	3.0	2.0	2214	$1,795	$0.81	4d	1	0.73mi
696 Homestead Rd S Lehigh Acres, FL	4.0	2.0	1777	$2,200	$1.24	24d	1	0.74mi
20190 Caroline Creek Pl Unit 250 Lehigh Acres, FL	3.0	2.0	1448	$1,900	$1.31	4d	1	0.78mi
20190 Caroline Creek Pl Unit 250 Lehigh Acres, FL	3.0	2.0	1448	$2,200	$1.52	24d	1	0.78mi
374 Compese Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,750	$1.46	16d	1	0.83mi
719 Fullerton Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	20d	1	0.86mi
12441 Dakota Ridge Pl Lehigh Acres, FL	4.0	2.5	1885	$2,150	$1.14	24d	1	0.87mi
12321 Dakota Ridge Pl Lehigh Acres, FL	3.0	2.0	1448	$1,850	$1.28	15d	1	0.87mi
715 Bering Ave S Lehigh Acres, FL	3.0	2.0	1835	$1,895	$1.03	22d	1	0.88mi
20050 Caroline Creek Pl Lehigh Acres, FL	4.0	2.5	1885	$2,300	$1.22	24d	1	0.88mi
455 Bell Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1142	$1,600	$1.40	24d	1	0.89mi
713 Cardinal St E Lehigh Acres, FL	3.0	2.0	1100	$1,635	$1.49	4d	1	0.94mi
12312 Amber Waves Rd Lehigh Acres, FL	4.0	2.0	1937	$2,325	$1.20	20d	1	0.99mi
12312 Amber Waves Rd Unit NA Lehigh Acres, FL	4.0	2.0	1941	$2,325	$1.20	24d	1	0.99mi
728 Crestline Ave S Lehigh Acres, FL	4.0	3.0	1904	$2,000	$1.05	22d	1	1.00mi
19931 Green Pasture Rd Lehigh Acres, FL	4.0	2.0	1817	$2,248	$1.24	24d	1	1.02mi
20055 Lake Vista Cir N Lehigh Acres, FL	3.0	2.0	1442	$1,700	$1.18	24d	1	1.04mi
20012 Petrucka Cir N Unit D Lehigh Acres, FL	3.0	2.0	1517	$1,750	$1.15	24d	1	1.06mi
19882 Green Pasture Rd Lehigh Acres, FL	4.0	2.0	1942	$2,350	$1.21	24d	1	1.07mi
727 Cane St E Lehigh Acres, FL	3.0	2.0	1582	$2,000	$1.26	24d	1	1.07mi
388 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,780	$1.48	24d	1	1.09mi
541 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1634	$1,921	$1.18	4d	1	1.10mi
750 Cane St E Lehigh Acres, FL	4.0	3.0	1537	$2,800	$1.82	4d	1	1.10mi

Listing history 10 events

1. 2026-06-18
   days on market $315,000 Active 13 DOM
2. 2026-06-17
   days on market $315,000 Active 12 DOM
3. 2026-06-16
   days on market $315,000 Active 11 DOM
4. 2026-06-15
   days on market $315,000 Active 10 DOM
5. 2026-06-13
   days on market $315,000 Active 8 DOM
6. 2026-06-10
   days on market $315,000 Active 5 DOM
7. 2026-06-09
   days on market $315,000 Active 4 DOM
8. 2026-06-08
   days on market $315,000 Active 3 DOM
9. 2026-06-07
   remarks 628-char remark
10. 2026-06-07
    listed $315,000 Active 2 DOM

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $25,861
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,069
• − Management: −$2,069
• − Depreciation: −$9,164
• Taxable loss: −$11,385
• Est. tax savings @ 24.0%: +$2,732
• After-tax cash flow: $-2,960/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

+1365.1% since first listed

9 events — show timeline

• 2026-06-05 Listed $315,000 FORTMLS
• 2022-05-03 Sold (MLS) $341,000 FORTMLS
• 2022-04-05 Pending — FORTMLS
• 2022-04-04 Listed $342,990 FORTMLS
• 2018-07-19 Sold (MLS) $10,000 FORTMLS
• 2018-06-16 Pending — FORTMLS
• 2018-06-08 Listed $10,500 FORTMLS
• 2015-03-02 Price Changed $12,000 FORTMLS
• 2008-09-03 Sold (MLS) $21,500 FORTMLS

Property tax history

+26.5%/yr

Latest (2022): $597 · +106.8% YoY. Source: county tax records.