617 Chestnut St E · Lehigh Acres, FL 33974

$379,000

4 bd · 3.0 ba · 2,252 sqft · Land · 92 Days on market

Built 2026 9,970 sqft lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• Rent growth +1.3/5.0
• DSCR +0.3/10.0

Listing remarks

This sounds like a remarkable opportunity! A brand-new home in a fast-growing market near the beach offers an enticing blend of convenience and lifestyle. With four bedrooms, three bathrooms, and a two-car garage, it provides ample space for comfortable living. The open concept floor plan and high ceilings create a spacious and airy atmosphere, while adding a touch of modern elegance. It's an exciting prospect for those looking to settle into a new home soon

Key facts

• 9,970 sq ft lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• Other: Lot is irregularly shaped; Public maintained road access; South exposure; Zoned RS-1
• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached 2-car garage
• Security: High impact doors
• Utilities: Well water; Septic tank; Cable not available
• Home design: Single-story home; Faces north; Entry at level 1
• Construction: Built with block, concrete and stucco; Metal roof
• Exterior features: Security / high impact doors; Open porch

Interior

• Kitchen: Dishwasher; Electric cooktop; Range; Refrigerator
• Bedrooms: Entry level bedrooms
• Flooring: Tile flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Impact glass windows; Open living/dining area; Pantry; Tub with shower; Split-bedroom layout; Unfurnished

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $379k.

Deal economics

• At list price, monthly cash flow is $-744 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (37.4% below list).
• Recommended offer: $237k (37.4% 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+, 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 falling (-4.7%/yr); 2476 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 39% 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 $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.
• 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 92 days — a 9% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $21k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $379k implies a 983% 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; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,307 (37.4% 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. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
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. 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. 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?
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 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: 0.63% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.42%
• DSCR: 0.63
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 2.43×
• Total profit: $152,080
• Equity at exit: $341,433

10-year hold

• IRR: 16.1%
• Equity multiple: 5.45×
• Total profit: $472,755
• Equity at exit: $736,314

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: 2476
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,373 high
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $-744

Break-even live

Break-even rent $3,315

Max offer price $271,276

Occupancy floor —

Sensitivity live

Price	-10% $-483	-5% $-613	+0% $-744	+5% $-875	+10% $-1,006
Rent	-10% $-932	-5% $-838	+0% $-744	+5% $-651	+10% $-557
Rate	-1.0pp $-554	-0.5pp $-648	base $-744	+0.5pp $-843	+1.0pp $-943

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Caywood Ave S Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	25d	1	0.21mi
668 Chemstrand St E Lehigh Acres, FL	3.0	2.0	2388	$2,000	$0.84	25d	1	0.25mi
541 Chalet Ave S Lehigh Acres, FL	4.0	3.0	1650	$2,400	$1.45	25d	1	0.46mi
606 Morningmist Ln Lehigh Acres, FL	4.0	2.5	1817	$2,295	$1.26	5d	1	0.51mi
598 Aston Lake Ct Lehigh Acres, FL	3.0	2.0	1703	$2,395	$1.41	23d	1	0.54mi
20050 Caroline Creek Pl Lehigh Acres, FL	4.0	2.5	1885	$2,300	$1.22	25d	1	0.63mi
19972 Green Pasture Rd Lehigh Acres, FL	5.0	2.5	2959	$3,000	$1.01	23d	1	0.66mi
12441 Dakota Ridge Pl Lehigh Acres, FL	4.0	2.5	1885	$2,150	$1.14	25d	1	0.71mi
19931 Green Pasture Rd Lehigh Acres, FL	4.0	2.0	1817	$2,248	$1.24	25d	1	0.71mi
532 Ilaria Ct Lehigh Acres, FL	4.0	2.0	1598	$2,300	$1.44	17d	1	0.74mi
19882 Green Pasture Rd Lehigh Acres, FL	4.0	2.0	1942	$2,350	$1.21	25d	1	0.75mi
19933 Lake Vista Cir Lehigh Acres, FL	3.0	2.0	1776	$1,750	$0.99	21d	1	0.77mi
12312 Amber Waves Rd Unit NA Lehigh Acres, FL	4.0	2.0	1941	$2,325	$1.20	25d	1	0.78mi
12312 Amber Waves Rd Lehigh Acres, FL	4.0	2.0	1937	$2,325	$1.20	21d	1	0.78mi
727 Cane St E Lehigh Acres, FL	3.0	2.0	1582	$2,000	$1.26	25d	1	0.82mi
11613 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,700	$1.10	17d	1	0.85mi
11621 Savanna Lakes Blvd Lehigh Acres, FL	4.0	3.0	2174	$2,200	$1.01	17d	1	0.85mi
430 Bell Blvd Lehigh Acres, FL	3.0	2.0	2526	$1,600	$0.63	25d	1	0.92mi
337 Rancho Ave Lehigh Acres, FL	3.0	2.0	1723	$2,150	$1.25	25d	1	0.97mi
270 Silent Lake Dr Lehigh Acres, FL	4.0	2.0	1800	$1,895	$1.05	13d	1	0.98mi
477 Rayford St Lehigh Acres, FL	4.0	3.0	1715	$2,000	$1.17	25d	1	0.98mi
696 Homestead Rd S Lehigh Acres, FL	4.0	2.0	1777	$2,200	$1.24	25d	1	1.00mi
467 Raymer St Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	12d	1	1.01mi
472 Rajah St Lehigh Acres, FL	3.0	2.0	1715	$2,200	$1.28	5d	1	1.02mi
286 Justene Cir Lehigh Acres, FL	3.0	2.0	1839	$1,900	$1.03	25d	1	1.04mi
334 Ranch Ave Lehigh Acres, FL	3.0	2.0	1645	$2,150	$1.31	5d	1	1.06mi
530 Kilgour Ave Lehigh Acres, FL	3.0	2.0	2214	$1,795	$0.81	5d	1	1.09mi
438 Poplar St Lehigh Acres, FL	3.0	2.0	1640	$2,150	$1.31	5d	1	1.10mi
825 Carbon St E Lehigh Acres, FL	3.0	2.0	1582	$2,300	$1.45	25d	1	1.10mi
437 Reading St Lehigh Acres, FL	4.0	2.0	1833	$1,795	$0.98	3d	1	1.16mi
11634 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,650	$1.08	23d	1	1.22mi
230 E Malden Ave S Lehigh Acres, FL	4.0	2.0	1833	$1,875	$1.02	25d	1	1.23mi
719 Fullerton Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	21d	1	1.28mi
312 Lenz Ave Lehigh Acres, FL	3.0	2.5	2208	$2,500	$1.13	25d	1	1.31mi
506 Corinne Dr Unit 506 Lehigh Acres, FL	3.0	2.0	1706	$2,300	$1.35	25d	1	1.34mi
459 Lockport Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	25d	1	1.35mi
715 Bering Ave S Lehigh Acres, FL	3.0	2.0	1835	$1,895	$1.03	23d	1	1.38mi
10601 Crossback Ln Lehigh Acres, FL	5.0	3.0	2634	$2,800	$1.06	25d	1	1.43mi
541 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1634	$1,921	$1.18	5d	1	1.47mi
264 Ground Dove Cir Lehigh Acres, FL	4.0	2.0	1683	$2,300	$1.37	25d	1	1.48mi

Listing history 20 events

1. 2026-06-22
   days on market $379,000 Active 92 DOM
2. 2026-06-17
   days on market $379,000 Active 88 DOM
3. 2026-06-16
   days on market $379,000 Active 87 DOM
4. 2026-06-15
   days on market $379,000 Active 86 DOM
5. 2026-06-13
   days on market $379,000 Active 84 DOM
6. 2026-06-10
   days on market $379,000 Active 81 DOM
7. 2026-06-09
   days on market $379,000 Active 80 DOM
8. 2026-06-07
   days on market $379,000 Active 78 DOM
9. 2026-06-03
   days on market $379,000 Active 74 DOM
10. 2026-06-02
    days on market $379,000 Active 73 DOM
11. 2026-06-01
    days on market $379,000 Active 72 DOM
12. 2026-06-01
    days on market $379,000 Active 71 DOM
13. 2026-05-11
    price $379,000
14. 2026-04-28
    price $389,000
15. 2026-04-06
    price $395,000
16. 2026-03-21
    listed $400,000 Active
17. 2021-06-01
    soldstatus $35,000
18. 2019-08-24
    historical
19. 2018-12-26
    listed $6,500 Active
20. 1990-03-08
    soldstatus $8,400

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $28,477
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$2,278
• − Management: −$2,278
• − Depreciation: −$11,025
• Taxable loss: −$15,915
• Est. tax savings @ 24.0%: +$3,820
• After-tax cash flow: $-5,114/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

+4411.9% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $379,000 FORTMLS
• 2026-04-28 Price Changed $389,000 FORTMLS
• 2026-04-06 Price Changed $395,000 FORTMLS
• 2026-03-21 Listed $400,000 FORTMLS
• 2021-06-01 Sold (Public Records) $35,000 Public Records
• 2019-08-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-12-26 Listed $6,500 Stellar MLS as Distributed by MLS Grid
• 1990-03-08 Sold (Public Records) $8,400 Public Records

Property tax history

+18.9%/yr

Latest (2025): $428 · +11.2% YoY. Source: county tax records.