777-779 Bedford Dr · Lehigh Acres, FL 33974

$394,000

6 bd · 4.0 ba · 2,306 sqft · MultiFamily public records · 120 Days on market

Built 2005 0.29 ac lot Est $496k · 21% under

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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).

• Cash flow +15.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.7/10.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 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 MLS

Headline: Value-Add Duplex in Lehigh Acres | No HOA | High Rental Potential Unlock immediate equity and cash flow at 777–779 Bedford Drive. This versatile duplex features two spacious 3-bedroom, 2-bathroom units, perfectly suited for a savvy investor or an owner-occupant looking to "house hack" and let a tenant pay the mortgage. The Layout: Functional, open-concept floor plans with generous bedroom sizes. The Freedom: Zero HOA fees and no restrictive rental rules—ideal for long-term leases or creative rental strategies. The Location: Prime Lehigh Acres pocket; minutes from dining, shopping, and SR-82, with quick access to RSW International Airport. Priced to reflect condition, offering a unique opportunity to renovate and capture maximum market value. Buyer to conduct all due diligence. Photos are Virtually Staged *

Key facts

• Duplex investment
• Close to dining
• No hoa

Tags

• DUPLEX INVESTMENT
• OWNER-OCCUPANT OPPORTUNITY
• NO HOA
• FLEXIBLE RENTAL STRATEGIES
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Finance

• Other: Lot size approximately 0.29 acres (0.25–0.49 range); Asphalt road access; Total buildings: 1
• Financial info: Gross income reported: $43,200; Annual net income reported: $13,000; Pro forma rent for unit type listed as $2,000
• HOA & community: No association

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Residential income property (duplex); Completed condition; Single building containing both units; Zoned RM-2
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building area approximately 3,048 total (public records)
• Exterior features: Rear porch; Exterior lighting

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 6 bedrooms total; Unit configuration: 2 apartments (each 3 bedrooms)
• Bathrooms: 2 bathrooms per apartment (total 2 listed under unit type)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; High ceilings; Open floorplan; Thermostat; Vaulted ceilings
• Laundry & utility: Laundry area located in garage

🏷️ Possibly a rental listed for sale. The $394,000 price doesn't fit this home's estimated sale value (~$495,790) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $394k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive. Per door: $73/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 $354k (10.3% below list).
• Recommended offer: $354k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,536/mo this rent would consume 59% 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 $42k of equity ($3k loan paydown + $39k 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 $110k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $353,600 (10.3% below list)

Questions for the listing agent

1. It's been on market 120 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 6.74%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $495,790
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
941-943 Jaguar Blvd	0.23mi	6/4.0	2,386 (+4%)	21mo	$512,000	$215	66

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: 24.4%
• Equity multiple: 2.94×
• Total profit: $213,487
• Equity at exit: $354,946

10-year hold

• IRR: 20.9%
• Equity multiple: 6.46×
• Total profit: $602,862
• Equity at exit: $765,455

Cash invested: $110,320 (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: 18.6×

Monthly cashflow live

• Estimated rent: $3,536 high
• Mortgage (P&I): −$2,066
• Tax from tax record: −$418 /mo · $5,013/yr
• Insurance: −$164
• HOA: −$0
• Vacancy / Maint / Mgmt: −$743
• Net cashflow: $145

Break-even live

Break-even rent $3,352

Max offer price $394,000

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,536
Total (2 units)			$3,536

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: $98,500
• Closing costs: $11,820
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-17
   days on market $394,000 Active 120 DOM
2. 2026-06-16
   days on market $394,000 Active 119 DOM
3. 2026-06-15
   days on market $394,000 Active 118 DOM
4. 2026-06-13
   days on market $394,000 Active 116 DOM
5. 2026-06-10
   days on market $394,000 Active 113 DOM
6. 2026-06-09
   days on market $394,000 Active 112 DOM
7. 2026-06-07
   days on market $394,000 Active 110 DOM
8. 2026-06-02
   days on market $394,000 Active 105 DOM
9. 2026-06-01
   days on market $394,000 Active 104 DOM
10. 2026-06-01
    remarks 689-char remark
11. 2026-06-01
    pricedays on market $394,000 Active 103 DOM
12. 2026-03-04
    listed $399,000 Active 852-char remark

    Show marketing remark (852 chars)

    Headline: Value-Add Duplex in Lehigh Acres | No HOA | High Rental Potential Unlock immediate equity and cash flow at 777–779 Bedford Drive. This versatile duplex features two spacious 3-bedroom, 2-bathroom units, perfectly suited for a savvy investor or an owner-occupant looking to "house hack" and let a tenant pay the mortgage. The Layout: Functional, open-concept floor plans with generous bedroom sizes. The Freedom: Zero HOA fees and no restrictive rental rules—ideal for long-term leases or creative rental strategies. The Location: Prime Lehigh Acres pocket; minutes from dining, shopping, and SR-82, with quick access to RSW International Airport. Priced to reflect condition, offering a unique opportunity to renovate and capture maximum market value. Buyer to conduct all due diligence. Photos are Virtually Staged *

13. 2026-02-17
    listed $399,000 Active
14. 2025-12-17
    historical
15. 2025-10-29
    listed $419,000 Active
16. 2023-08-28
    soldstatus $440,500
17. 2023-08-23
    soldstatus $440,500 Closed
18. 2023-07-01
    status Pending
19. 2023-06-22
    listed $420,000 Active
20. 2007-05-22
    soldstatus $256,000

ⓘ 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: $5,013 · $418/mo
• Projected year-2 tax: $5,013 · $418/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 ≥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: $42,432
• − Mortgage interest: −$22,070
• − Property taxes: −$5,013
• − Insurance: −$1,970
• − Repairs & maintenance: −$3,395
• − Management: −$3,395
• − Depreciation: −$11,462
• Taxable loss: −$4,872
• Est. tax savings @ 24.0%: +$1,169
• After-tax cash flow: $2,914/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

+55.9% since first listed

9 events — show timeline

• 2026-03-04 Listed $399,000 NAPLESMLS
• 2026-02-17 Listed $399,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-29 Listed $419,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-28 Sold (Public Records) $440,500 Public Records
• 2023-08-23 Sold (MLS) $440,500 FORTMLS
• 2023-07-01 Pending — FORTMLS
• 2023-06-22 Listed $420,000 FORTMLS
• 2007-05-22 Sold (Public Records) $256,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $5,013 · +4.9% YoY. Source: county tax records.