3304 23rd St SW · Lehigh Acres, FL 33976

$235,000

3 bd · 2.0 ba · 2,037 sqft · SingleFamily public records · 34 Days on market

Built 2006 0.25 ac lot Est $371k · 37% under

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Why this score? — see what drove the B- 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 +18.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.0/10.0
• 1% rule +4.2/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks MLS

Corporate owned property in sunny Lehigh Acres Florida in quiet and private area, This 3 bedroom, 2 bath, home includes large family roomm spacious master suite, tile and carpet floors, open kitchen and large screened lanai. Lots of room for a pool. Much to offer and Owner says, sell it! Call to schedule your personal tour or to submit an offer today.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 2006

Property features AI

Finance

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

Exterior

• Parking: Attached garage; 2 covered garage spaces; Driveway; Paved parking
• Security: Smoke detector(s)
• Utilities: Septic tank; Well water; Cable available; High-speed internet available
• Home design: Single-story home; Entry level 1; Resale property; Faces south
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Lanai and screened porch; Porch; Room for a pool; Smoke detector(s); Rectangular, paved lot with public road access; North exposure

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Includes a screened porch (listed as a room type)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Cathedral ceilings; Open living/dining area; Pantry; Cable TV available; Split bedroom floor plan; See remarks
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (8.3% below list).
• Recommended offer: $215k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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 soft (-1.5%/yr); 786 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k 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 $66k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $74k; list at $235k implies a 215% 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; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,441 (8.3% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $370,734
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3113 14th St SW	0.64mi	3/2.0	2,012 (-1%)	2mo	$350,000	$174	67
3306 21st St SW	0.14mi	4/2.0 (+1)	2,151 (+6%)	21mo	$405,000	$188	62
3506 28th St SW	0.47mi	4/2.0 (+1)	1,824 (-10%)	4mo	$289,097	$158	52
3509 19th St SW	0.35mi	3/2.0	1,791 (-12%)	15mo	$310,000	$173	51
3406 28th St SW	0.36mi	4/2.0 (+1)	1,810 (-11%)	19mo	$328,990	$182	44
3608 21st St SW	0.46mi	4/2.0 (+1)	1,810 (-11%)	22mo	$329,990	$182	37
3606 29th St SW	0.62mi	3/3.0	1,776 (-13%)	13mo	$390,000	$220	35
2200 Loraine Ave S	0.48mi	4/3.0 (+1)	1,735 (-15%)	14mo	$415,000	$239	32

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: 26.4%
• Equity multiple: 3.08×
• Total profit: $136,956
• Equity at exit: $211,707

10-year hold

• IRR: 22.4%
• Equity multiple: 6.77×
• Total profit: $379,802
• Equity at exit: $456,553

Cash invested: $65,800 (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 33976

• Home prices YoY: 6.8%
• Rents YoY: -1.5%
• Active inventory: 786
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,154 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$131 /mo · $1,568/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $241

Break-even live

Break-even rent $1,849

Max offer price $235,000

Occupancy floor 84%

Sensitivity live

Price	-10% $374	-5% $308	+0% $241	+5% $175	+10% $108
Rent	-10% $71	-5% $156	+0% $241	+5% $326	+10% $411
Rate	-1.0pp $359	-0.5pp $301	base $241	+0.5pp $180	+1.0pp $118

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3203 24th St SW Lehigh Acres, FL	3.0	2.0	1498	$2,300	$1.54	22d	1	0.23mi
3209 21st St SW Lehigh Acres, FL	3.0	2.0	1418	$1,699	$1.20	4d	1	0.27mi
3418 26th St SW Lehigh Acres, FL	4.0	3.0	2030	$2,300	$1.13	17d	1	0.30mi
3201 29th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,950	$1.06	4d	1	0.46mi
1511 Terry Ave S Lehigh Acres, FL	3.0	2.0	1579	$1,996	$1.26	24d	1	0.52mi
1507 Paula Ave S Lehigh Acres, FL	3.0	2.0	1547	$2,000	$1.29	20d	1	0.52mi
2504 Vera Ave S Lehigh Acres, FL	3.0	3.0	1643	$2,400	$1.46	24d	1	0.53mi
3604 29th St SW Lehigh Acres, FL	3.0	2.5	1776	$2,500	$1.41	24d	1	0.58mi
3008 25th St SW Lehigh Acres, FL	4.0	2.0	1565	$1,711	$1.09	22d	1	0.59mi
3008 23rd St SW Lehigh Acres, FL	3.0	2.0	1640	$2,350	$1.43	24d	1	0.60mi
2914 24th St SW Lehigh Acres, FL	3.0	2.0	1537	$2,250	$1.46	24d	1	0.69mi
3312 35th St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.73mi
3314 35th St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.73mi
3316 35th St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.73mi
3714 17th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,890	$1.03	24d	1	0.73mi
2904 Wanda Ave S Lehigh Acres, FL	3.0	2.0	1501	$1,900	$1.27	24d	1	0.76mi
3121 11th St SW Lehigh Acres, FL	4.0	2.0	2768	$2,205	$0.80	24d	1	0.80mi
3313 36th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,300	$1.33	24d	1	0.83mi
3702 14th St SW Lehigh Acres, FL	4.0	2.0	1472	$1,995	$1.36	24d	1	0.83mi
3419 36th St Lehigh Acres, FL	4.0	2.0	1920	$1,850	$0.96	24d	1	0.85mi
3408 10th St SW Lehigh Acres, FL	4.0	2.0	1920	$1,750	$0.91	15d	1	0.87mi
2811 25th St SW Unit NA Lehigh Acres, FL	3.0	2.0	1430	$1,990	$1.39	24d	1	0.90mi
3801 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.93mi
3803 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.94mi
2906 14th St SW Lehigh Acres, FL	3.0	2.0	1563	$2,450	$1.57	24d	1	0.95mi
3805 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.95mi
3807 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.96mi
3809 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	0.98mi
3303 8th St SW Lehigh Acres, FL	3.0	2.0	1400	$2,250	$1.61	4d	1	0.99mi
3417 7th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	11d	1	1.02mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	17d	1	1.03mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	4d	1	1.03mi
2708 27th St SW Lehigh Acres, FL	4.0	2.0	1698	$2,280	$1.34	4d	1	1.09mi
2710 28th St SW Lehigh Acres, FL	4.0	2.0	1742	$2,450	$1.41	24d	1	1.09mi
2701 20th St SW Lehigh Acres, FL	3.0	2.0	2019	$1,900	$0.94	20d	1	1.16mi
4021 28th St SW Lehigh Acres, FL	3.0	2.0	1529	$1,800	$1.18	24d	1	1.17mi
3012 40th St SW Lehigh Acres, FL	3.0	2.0	1427	$1,950	$1.37	24d	1	1.18mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	4d	1	1.24mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	4d	1	1.24mi
4203 23rd St SW Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	20d	1	1.35mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $235,000 Pending 34 DOM
2. 2026-06-10
   days on market $235,000 Active 33 DOM
3. 2026-06-09
   days on market $235,000 Active 32 DOM
4. 2026-06-08
   days on market $235,000 Active 31 DOM
5. 2026-06-07
   days on market $235,000 Active 30 DOM
6. 2026-06-03
   days on market $235,000 Active 26 DOM
7. 2026-06-02
   days on market $235,000 Active 25 DOM
8. 2026-06-01
   days on market $235,000 Active 24 DOM
9. 2026-05-31
   days on market $235,000 Active 23 DOM
10. 2026-05-08
    listed $235,000 Active
11. 2011-02-25
    soldstatus $74,500 353-char remark

    Show marketing remark (353 chars)

    Corporate owned property in sunny Lehigh Acres Florida in quiet and private area, This 3 bedroom, 2 bath, home includes large family roomm spacious master suite, tile and carpet floors, open kitchen and large screened lanai. Lots of room for a pool. Much to offer and Owner says, sell it! Call to schedule your personal tour or to submit an offer today.

12. 2010-08-17
    listed $74,900 353-char remark

    Show marketing remark (353 chars)

    Corporate owned property in sunny Lehigh Acres Florida in quiet and private area, This 3 bedroom, 2 bath, home includes large family roomm spacious master suite, tile and carpet floors, open kitchen and large screened lanai. Lots of room for a pool. Much to offer and Owner says, sell it! Call to schedule your personal tour or to submit an offer today.

ⓘ 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: $1,568 · $131/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$382/yr (+$32/mo · 24.4%)

ⓘ 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 ≥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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,853
• − Mortgage interest: −$13,164
• − Property taxes: −$1,568
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,068
• − Management: −$2,068
• − Depreciation: −$6,836
• Taxable loss: −$1,027
• Est. tax savings @ 24.0%: +$246
• After-tax cash flow: $3,139/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): 20,277
• Household income: $72,679
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 574.0

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: Hispanic / Latino 50% Two or more races 30% White 24% Black 20% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 8% Cuban 18% Dominican 4%
• Common ancestry: Hispanic 8% Slovak 1% Lithuanian 1%
• Foreign-born: 35% · Canada, Jamaica, Vietnam
• Languages at home: 46% English-only · Spanish 43% French/Haitian/Cajun 8% Vietnamese 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: ▲ 21.77%
• Current HPI: 340.4255
• Rent YoY: ▼ -1.54%
• 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

+213.8% since first listed

3 events — show timeline

• 2026-05-08 Listed $235,000 FORTMLS
• 2011-02-25 Sold (MLS) $74,500 NAPLESMLS
• 2010-08-17 Listed $74,900 NAPLESMLS

Property tax history

+4.5%/yr

Latest (2025): $1,568 · +3.6% YoY. Source: county tax records.