2406 Linhart Ave · Fort Myers, FL 33901

$295,900

4 bd · 2.0 ba · 1,564 sqft · MultiFamily public records · 61 Days on market

Built 1971 5,270 sqft lot Est $247k · 20% over

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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 +14.6/30.0
• DSCR +4.5/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• 1% rule +4.0/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

This charming duplex in the heart of Fort Myers, Florida, offers an excellent investment or owner-occupant opportunity. Each side features nearly 1,000 square feet of living space, with 2 bedrooms and 1 bathroom, providing comfortable and functional layouts. The property welcomes you with a shared courtyard entry—perfect for enjoying the Florida sunshine and creating an inviting first impression. Inside, both units are fully tiled or luxury vinyl throughout, delivering a clean, low-maintenance, and modern feel. Each kitchen is thoughtfully updated with stainless steel appliances, combining style and practicality for everyday living. Located in a vibrant and convenient area, this duple

Key facts

• Luxury vinyl
• Fully tiled
• Updated kitchens

Tags

• SHARED COURTYARD ENTRY
• FULLY TILED
• LUXURY VINYL
• STAINLESS STEEL APPLIANCES
• UPDATED KITCHENS

Property features AI

Finance

• Other: Land lease expires 2027-02-01; Tenants pay cable TV, electricity, internet and water; Pets allowed
• Financial info: Gross scheduled income: $30,000; Operating expenses: $6,000; Each unit current actual rent: $1,250
• HOA & community: Non-gated community; No association fee

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Cable available
• Home design: Multi-family property with 2 total units; Resale condition; Zoned RM-12
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Courtyard; Rectangular lot

Interior

• Kitchen: Each unit includes a range and refrigerator; open lanai/porch adjacent to living area
• Bedrooms: Two 2-bedroom units (each unit listed as two-bedroom, unfurnished)
• Flooring: Tile and vinyl flooring
• Bathrooms: Each unit with 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Single-hung windows
• Laundry & utility: Tenant pays water (no building laundry details provided)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $296k.

Deal economics

• At list price, monthly cash flow is $71 ($849/yr) — positive. Per door: $35/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 $265k (10.4% below list).
• Recommended offer: $265k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.3% in Fort Myers — 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents falling (-3.2%/yr); 287 active listings in the ZIP; 39 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).
• At $2,652/mo this rent would consume 61% of the median local household income ($52k/yr) (locally 1782% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 61 days — a 6% lower offer ($278k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 12y 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.
• Current owner paid $245k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,200 (10.4% below list)

Questions for the listing agent

1. It's been on market 61 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. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $247,112
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2405 Jeffcott St	0.32mi	4/2.0	1,392 (-11%)	22mo	$220,000	$158	48

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: -18.1%
• Equity multiple: 0.38×
• Total profit: $-51,187
• Equity at exit: $44,120

10-year hold

• IRR: -17.5%
• Equity multiple: 0.17×
• Total profit: $-68,694
• Equity at exit: $25,584

Cash invested: $82,852 (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 33901

• Home prices YoY: -25.9%
• Rents YoY: -3.2%
• Active inventory: 287
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $2,652 high
• Mortgage (P&I): −$1,552
• Tax from tax record: −$349 /mo · $4,192/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $71

Break-even live

Break-even rent $2,562

Max offer price $295,900

Occupancy floor 92%

Sensitivity live

Price	-10% $238	-5% $155	+0% $71	+5% $-13	+10% $-97
Rent	-10% $-139	-5% $-34	+0% $71	+5% $176	+10% $280
Rate	-1.0pp $220	-0.5pp $146	base $71	+0.5pp $-6	+1.0pp $-84

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,652
Total (2 units)			$2,652

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: $73,975
• Closing costs: $8,877
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2822 Central Ave Fort Myers, FL	3.0	2.0	1641	$1,100	$0.67	25d	1	0.05mi
2817 Jackson St Fort Myers, FL	3.0	2.0	1200	$2,200	$1.83	25d	1	0.13mi
2103 Unity Ave Fort Myers, FL	4.0	2.0	1456	$1,900	$1.30	25d	1	0.65mi
2330 Hoople St Fort Myers, FL	3.0	2.0	1250	$1,750	$1.40	18d	1	0.77mi
2627 Saint Charles St Fort Myers, FL	4.0	2.0	1400	$1,850	$1.32	16d	1	0.80mi
2922 McCann St Fort Myers, FL	3.0	2.0	1323	$2,550	$1.93	25d	1	0.88mi
2651 Market St Fort Myers, FL	3.0	2.0	1184	$1,295	$1.09	25d	1	0.88mi
33 Broadway Cir Fort Myers, FL	3.0	2.0	1122	$1,800	$1.60	18d	1	0.88mi
2649 Market St Unit 2651 Fort Myers, FL	3.0	2.0	1184	$1,250	$1.06	21d	1	0.88mi
2408 Euclid Ave Fort Myers, FL	3.0	2.0	1347	$3,975	$2.95	25d	1	0.93mi
1661 Coronado Rd Fort Myers, FL	3.0	2.0	1144	$3,000	$2.62	25d	1	0.95mi
2330 Union St Fort Myers, FL	3.0	1.0–2.0	951	$3,714	$3.90	5d	27	0.98mi
1659 Ricardo Ave Fort Myers, FL	3.0	2.0	1985	$2,300	$1.16	25d	1	1.06mi
1535 Ransom St Fort Myers, FL	3.0	2.0	1104	$2,400	$2.17	25d	1	1.12mi
3141 Edison Ave Fort Myers, FL	4.0	1.0	1136	$1,500	$1.32	25d	1	1.14mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1285	$2,300	$1.79	18d	1	1.15mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1111	$2,300	$2.07	5d	1	1.15mi
2987 Thomas St Fort Myers, FL	3.0	2.0	1200	$2,100	$1.75	23d	1	1.15mi
2147 Pauldo St Fort Myers, FL	3.0	2.0	1088	$1,395	$1.28	25d	1	1.17mi
3647 Pine Oak Cir #107 Fort Myers, FL	3.0	2.5	1447	$1,749	$1.21	5d	1	1.25mi
3647 Pine Oak Cir #107 Fort Myers, FL	3.0	2.5	1447	$1,749	$1.21	23d	1	1.25mi
3643 Pine Oak Cir #105 Fort Myers, FL	3.0	2.5	1447	$1,800	$1.24	25d	1	1.27mi
3034 Price Ave Fort Myers, FL	3.0	2.0	1367	$2,100	$1.54	5d	1	1.30mi
2350 W First St Fort Myers, FL	1.0–4.0	1.0–2.0	1344	$1,560	$1.16	23d	2	1.30mi
2218 Quality Life Center Way Fort Myers, FL	4.0	2.0	1257	$2,250	$1.79	25d	1	1.32mi
3341 Willard St Fort Myers, FL	4.0	2.0	1257	$2,500	$1.99	18d	1	1.33mi
3341 Willard St Fort Myers, FL	4.0	2.0	1619	$2,500	$1.54	21d	1	1.33mi
2656 Lime St Fort Myers, FL	4.0	2.0	1232	$1,700	$1.38	5d	1	1.33mi
3891 Solomon Blvd Fort Myers, FL	1.0–3.0	1.0–2.0	856	$1,819	$2.12	3d	23	1.33mi
3425 South St Fort Myers, FL	3.0	1.0	1132	$1,395	$1.23	5d	1	1.34mi
2104 W First St #2503 Fort Myers, FL	3.0	2.0	2140	$5,885	$2.75	25d	1	1.36mi
2104 W First St #1902 Fort Myers, FL	3.0	2.0	2140	$3,000	$1.40	25d	1	1.36mi
3306 Bassie Ct Fort Myers, FL	4.0	2.0	1257	$2,100	$1.67	25d	1	1.36mi
1900 Virginia Ave #503 Fort Myers, FL	3.0	2.0	2025	$3,000	$1.48	25d	1	1.36mi
1350 Miracle Ln Fort Myers, FL	3.0	1.5	1350	$2,800	$2.07	16d	1	1.37mi
3604 Cedar Oak Dr Fort Myers, FL	3.0	2.5	1434	$1,650	$1.15	18d	1	1.37mi
3630 Pine Oak Cir #105 Fort Myers, FL	3.0	2.5	1434	$1,750	$1.22	25d	1	1.39mi
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$2,021	$2.05	4d	34	1.40mi
2225 Carver Ave Fort Myers, FL	3.0	2.0	1193	$2,200	$1.84	25d	1	1.41mi

Listing history 36 events

1. 2026-06-22
   days on market $295,900 Active 61 DOM
2. 2026-06-17
   days on market $295,900 Active 57 DOM
3. 2026-06-16
   days on market $295,900 Active 56 DOM
4. 2026-06-15
   days on market $295,900 Active 55 DOM
5. 2026-06-13
   days on market $295,900 Active 53 DOM
6. 2026-06-10
   days on market $295,900 Active 50 DOM
7. 2026-06-09
   days on market $295,900 Active 49 DOM
8. 2026-06-07
   days on market $295,900 Active 47 DOM
9. 2026-06-03
   days on market $295,900 Active 43 DOM
10. 2026-06-02
    days on market $295,900 Active 42 DOM
11. 2026-06-01
    days on market $295,900 Active 41 DOM
12. 2026-05-31
    days on market $295,900 Active 40 DOM
13. 2026-05-06
    status Active
14. 2026-04-28
    status Pending
15. 2026-04-11
    listed $295,900 Active
16. 2026-04-09
    listed $1,299
17. 2025-01-27
    historical $1,595
18. 2024-12-18
    listed $1,595
19. 2022-03-30
    soldstatus $245,000
20. 2021-12-31
    historical
21. 2021-11-12
    price $245,000
22. 2021-06-01
    status Active
23. 2021-05-24
    status Pending
24. 2021-05-07
    status Active
25. 2021-05-04
    status Pending
26. 2021-01-13
    price $190,000
27. 2020-09-18
    status Active
28. 2020-09-04
    status Pending
29. 2020-02-17
    listed $179,900 Active
30. 2016-12-28
    soldstatus $92,500
31. 2015-03-02
    price $145,900
32. 2014-12-31
    soldstatus $37,500
33. 2014-12-31
    price $42,500
34. 2014-10-16
    listed $37,500
35. 2005-07-12
    soldstatus $145,900
36. 2005-06-27
    soldstatus $245,900

ⓘ 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: $4,192 · $349/mo
• Projected year-2 tax: $4,192 · $349/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 32 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,824
• − Mortgage interest: −$16,575
• − Property taxes: −$4,192
• − Insurance: −$1,480
• − Repairs & maintenance: −$2,546
• − Management: −$2,546
• − Depreciation: −$8,608
• Taxable loss: −$4,122
• Est. tax savings @ 24.0%: +$989
• After-tax cash flow: $1,838/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime B+ Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 24,481
• Household income: $51,816
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 1782.0

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 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 23% Black 22% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4% Cuban 4%
• Common ancestry: Hispanic 7% Estonian 2% Lithuanian 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 18% French/Haitian/Cajun 8% Other Indo-European 4%

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: ▼ -108.70%
• Current HPI: 311.8283
• Rent YoY: ▼ -3.23%
• 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

+20.3% since first listed

24 events — show timeline

• 2026-05-06 Relisted — FORTMLS
• 2026-04-28 Pending — FORTMLS
• 2026-04-11 Listed $295,900 FORTMLS
• 2026-04-09 Listed for Rent $1,299 FORTMLS
• 2025-01-27 Rental Removed $1,595 NAPLESMLS
• 2024-12-18 Listed for Rent $1,595 NAPLESMLS
• 2022-03-30 Sold (Public Records) $245,000 Public Records
• 2021-12-31 Listing Removed — FORTMLS
• 2021-11-12 Price Changed $245,000 FORTMLS
• 2021-06-01 Relisted — FORTMLS
• 2021-05-24 Pending — FORTMLS
• 2021-05-07 Relisted — FORTMLS
• 2021-05-04 Pending — FORTMLS
• 2021-01-13 Price Changed $190,000 FORTMLS
• 2020-09-18 Relisted — FORTMLS
• 2020-09-04 Pending — FORTMLS
• 2020-02-17 Listed $179,900 FORTMLS
• 2016-12-28 Sold (Public Records) $92,500 Public Records
• 2015-03-02 Price Changed $145,900 FORTMLS
• 2014-12-31 Price Changed $42,500 FORTMLS
• 2014-12-31 Sold (MLS) $37,500 FORTMLS
• 2014-10-16 Listed $37,500 FORTMLS
• 2005-07-12 Sold (Public Records) $145,900 Public Records
• 2005-06-27 Sold (MLS) $245,900 FORTMLS

Property tax history

+13.2%/yr

Latest (2025): $4,192 · +2.4% YoY. Source: county tax records.