537/539 Alabama Rd S · Lehigh Acres, FL 33974

$378,999

6 bd · 4.0 ba · 2,400 sqft · MultiFamily · 55 Days on market

Built 2007 Good condition 0.29 ac lot Est $511k · 26% under ↓ 5% since listing

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Why this score? — see what drove the C+ 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 +15.0/15.0
• Cash flow +14.5/30.0
• Appreciation +10.0/10.0
• DSCR +4.4/10.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +1.3/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Prime Investment Opportunity, make this beautiful turnkey the next addition to your real estate portfolio. This duplex has a Spacious Layout Each side is designed with an open floor plan, featuring 3 bedrooms and 2 bathrooms, 1 car garage (Note: The versatile den is currently utilized as a 3rd bedroom). This property has been meticulously maintained by the current owner ensuring that the next landlord inherits peace of mind without all the headaches. Both units feature long-term tenants, providing immediate and consistent cash flow from day one. With stainless-steel appliances, crown molding, tile flooring throughout. Convenient inside laundry hookups. You will be worry free having Hurrican

Key facts

• Open floor plan
• Tile flooring
• Hurricane protection

Tags

• OPEN FLOOR PLAN
• STAINLESS-STEEL APPLIANCES
• CROWN MOLDING
• TILE FLOORING
• INSIDE LAUNDRY HOOKUPS
• HURRICANE PROTECTION

Property features AI

Finance

• Other: Pets allowed
• Financial info: Gross scheduled income: $47,000; One unit reported actual rent: $4,000 (pro forma $4,000)
• HOA & community: No association fee listed

Exterior

• Parking: Each unit includes an attached garage (1 garage space per unit)
• Utilities: Septic tank sewer; Well water; Cable available
• Home design: Multi-family property with 2 total units; Resale condition; Zoned RM-2
• Construction: Block, concrete and stucco construction; Metal roof
• Exterior features: Fenced yard; Sprinkler/irrigation system (automatic); Well water source

Interior

• Kitchen: Appliances not separately listed beyond water systems
• Bedrooms: Two 2-bedroom units (each unit labeled Two Bedroom)
• Flooring: Tile flooring throughout
• Bathrooms: Each unit has 2 full bathrooms (total listed full bathrooms: 2)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Single-hung windows; Tile flooring; Water softener; Water purifier
• Laundry & utility: Laundry in residence (noted for one unit)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $379k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive. Per door: $42/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $342k (9.7% below list).
• Recommended offer: $342k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+, 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $3,422/mo this rent would consume 57% of the median local household income ($72k/yr) (locally 434% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $41k 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.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $106k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$65k 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 ($368k) is reasonable based on typical stale-listing flexibility.

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 $342,200 (9.7% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $511,200
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322-324 Poplar St	0.49mi	6/4.0	2,398 (-0%)	2mo	$510,000	$213	76
318-320 Poplar St	0.48mi	6/4.0	2,398 (-0%)	3mo	$515,000	$215	75
326-328 Grant Blvd	0.55mi	6/4.0	2,330 (-3%)	14mo	$400,000	$172	58

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: 23.9%
• Equity multiple: 2.90×
• Total profit: $201,799
• Equity at exit: $341,432

10-year hold

• IRR: 20.6%
• Equity multiple: 6.39×
• Total profit: $572,193
• Equity at exit: $736,312

Cash invested: $106,120 (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 33974

• Home prices YoY: 5.8%
• Rents YoY: -4.7%
• Active inventory: 2460
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $3,422 high
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $84

Break-even live

Break-even rent $3,315

Max offer price $378,999

Occupancy floor 93%

Sensitivity live

Price	-10% $346	-5% $215	+0% $84	+5% $-47	+10% $-178
Rent	-10% $-186	-5% $-51	+0% $84	+5% $219	+10% $355
Rate	-1.0pp $275	-0.5pp $181	base $84	+0.5pp $-14	+1.0pp $-114

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,422
Total (2 units)			$3,422

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10601 Crossback Ln Lehigh Acres, FL	5.0	3.0	2634	$2,800	$1.06	24d	1	0.86mi
19525 Fairhill Ct Lehigh Acres, FL	6.0	3.0	2463	$2,499	$1.01	24d	1	0.92mi
11902 Savanna Lakes Blvd Lehigh Acres, FL	6.0	3.0	3041	$2,750	$0.90	16d	1	1.12mi
11634 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,650	$1.08	22d	1	1.15mi
19972 Green Pasture Rd Lehigh Acres, FL	5.0	2.5	2959	$3,000	$1.01	22d	1	1.42mi
11613 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,700	$1.10	16d	1	1.42mi

Listing history 10 events

1. 2026-06-17
   days on market $378,999 Active 55 DOM
2. 2026-06-16
   days on market $378,999 Active 54 DOM
3. 2026-06-15
   days on market $378,999 Active 53 DOM
4. 2026-06-13
   status $378,999 Active 51 DOM
5. 2026-06-03
   statusdays on market $378,999 Pending 51 DOM
6. 2026-06-02
   days on market $378,999 Active 50 DOM
7. 2026-06-01
   days on market $378,999 Active 49 DOM
8. 2026-05-31
   days on market $378,999 Active 48 DOM
9. 2026-05-11
   price $378,999
10. 2026-04-13
    listed $399,999 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $41,064
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,285
• − Management: −$3,285
• − Depreciation: −$11,025
• Taxable loss: −$5,341
• Est. tax savings @ 24.0%: +$1,282
• After-tax cash flow: $2,292/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.

Condition & rehab AI · 7 photos

Good 75/100 Cosmetic rehab

This well-maintained duplex is ready for immediate rental or resale with minor cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value
• Both Replace ceiling fans — Modernizes the interior and improves air circulation

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Replace ceiling fans — Modernizes the interior and improves air circulation ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-5.3% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $378,999 FORTMLS
• 2026-04-13 Listed $399,999 FORTMLS