940 Panda Dr · Lehigh Acres, FL 33974

$294,990

4 bd · 2.0 ba · 1,593 sqft · Land · 62 Days on market

Built 2026 10,018 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
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0
• Rent growth +1.3/5.0

Listing remarks MLS

As one of Southwest Florida's most affordable real estate markets, Lehigh Acres is home to national and local businesses, championship golf courses, minutes from the Boston Red Sox spring training home at JetBlue Park, 12 miles from historic downtown Fort Myers and close to Gulf of Mexico beaches. DRE# 175519667

Key facts

• Large shower
• Walk-in closet
• Covered lanai

Tags

• OPEN KITCHEN
• COVERED LANAI
• PRIVATE PRIMARY SUITE
• WALK-IN CLOSET
• RELAXING BATH
• LARGE SHOWER

Property features AI

Finance

• Other: Lot: oversized lot, approximately 0.23 acres (80 x 125 x 80 x 125); Lot exposure: south; Road maintained by public; Zoning: RS-1; Irrigation source: well
• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage door opener
• Security: Security/high impact doors; Smoke detector(s)
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story; Entry level: 1; Faces north; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Patio; Open patio/porch; Porch; Room for pool; Sprinkler/irrigation; Sprinklers automatic; Security/high impact doors; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Icemaker; Microwave; Range; Refrigerator; Refrigerator with ice maker; Pantry / Walk-in pantry; Breakfast bar
• Bedrooms: Guest quarters
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Cathedral ceilings; High ceilings; Entrance foyer; Living/dining room; Breakfast bar; Pantry; Walk-in pantry; Walk-in closet(s); Split bedrooms; Dual sinks; Separate shower; Shower only; Sliding windows; Impact glass windows; Unfurnished
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $295k.

Deal economics

• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (28.5% below list).
• Recommended offer: $211k (28.5% 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+, 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; 40 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).
• This rent runs 35% 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 $32k of equity ($2k loan paydown + $29k 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 ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $21k; list at $295k implies a 1305% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,941 (28.5% 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 62 days. Have you received any prior offers? Is the seller open to a 28% 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: 0.72% ✗
• Cap rate: 4.78%
• Cash-on-cash: -5.41%
• DSCR: 0.76
• GRM: 11.7

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: 19.6%
• Equity multiple: 2.58×
• Total profit: $130,805
• Equity at exit: $265,750

10-year hold

• IRR: 17.5%
• Equity multiple: 5.76×
• Total profit: $392,835
• Equity at exit: $573,101

Cash invested: $82,597 (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: 11.7×

Monthly cashflow live

• Estimated rent: $2,109 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-372

Break-even live

Break-even rent $2,581

Max offer price $241,136

Occupancy floor —

Sensitivity live

Price	-10% $-168	-5% $-270	+0% $-372	+5% $-474	+10% $-576
Rent	-10% $-539	-5% $-455	+0% $-372	+5% $-289	+10% $-206
Rate	-1.0pp $-224	-0.5pp $-297	base $-372	+0.5pp $-449	+1.0pp $-526

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: $73,748
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 Graystone Ave Lehigh Acres, FL	3.0	2.0	1115	$1,525	$1.37	15d	1	0.19mi
941 Elgin St Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	24d	1	0.24mi
936 Eisenhower Blvd Lehigh Acres, FL	3.0	2.0	1300	$1,395	$1.07	4d	1	0.25mi
936 Joponica Ave S Lehigh Acres, FL	4.0	2.0	2101	$2,500	$1.19	24d	1	0.37mi
827 Eisenhower Blvd Lehigh Acres, FL	3.0	2.5	1640	$1,780	$1.09	12d	1	0.48mi
927 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	24d	1	0.50mi
925 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	24d	1	0.50mi
819 Eisenhower Blvd Unit 819 Lehigh Acres, FL	3.0	2.0	1390	$1,650	$1.19	24d	1	0.51mi
1018 Garnet Ave Lehigh Acres, FL	3.0	2.0	1381	$1,575	$1.14	24d	1	0.53mi
930 Ainsworth St W Lehigh Acres, FL	3.0	2.0	1165	$1,395	$1.20	16d	1	0.59mi
826 Dawhert Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	4d	1	0.80mi
762 Gallo Ave S #764 Lehigh Acres, FL	3.0	2.0	1127	$1,195	$1.06	22d	1	0.82mi
756 Holmes Ave Lehigh Acres, FL	3.0	2.0	1100	$1,450	$1.32	11d	1	0.82mi
761 Kirkman Ave S Lehigh Acres, FL	3.0	2.0	1188	$1,900	$1.60	24d	1	0.82mi
1089 Eisenhower Blvd Lehigh Acres, FL	4.0	2.0	1639	$2,000	$1.22	4d	1	0.84mi
847 Genoa Ave Lehigh Acres, FL	3.0	2.0	1600	$2,000	$1.25	4d	1	0.85mi
828 Genoa Ave S Lehigh Acres, FL	4.0	2.5	1632	$2,400	$1.47	24d	1	0.85mi
760 Festival Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	24d	1	0.86mi
1076 Gunby Ave S Lehigh Acres, FL	3.0	2.0	1258	$2,100	$1.67	24d	1	0.89mi
750 Newhall St E Lehigh Acres, FL	3.0	2.0	1147	$1,675	$1.46	20d	1	0.90mi
750 Newhall St E Lehigh Acres, FL	3.0	2.0	1147	$1,675	$1.46	24d	1	0.90mi
1107 Enrique St E Lehigh Acres, FL	3.0	2.0	1363	$1,800	$1.32	24d	1	0.92mi
730 Holmes Ave Unit 728 Lehigh Acres, FL	3.0	2.0	1080	$1,500	$1.39	12d	1	0.95mi
1028 Eubanks St Lehigh Acres, FL	3.0	3.0	1200	$1,950	$1.62	16d	1	0.96mi
814 Crystal Ave S Lehigh Acres, FL	3.0	2.0	1865	$1,815	$0.97	24d	1	0.97mi
1111 Gunby Ave S Unit S Lehigh Acres, FL	3.0	2.0	1546	$2,200	$1.42	2d	1	0.99mi
737 Almelia St E Lehigh Acres, FL	3.0	2.0	1404	$1,745	$1.24	22d	1	1.07mi
736 Barcia St E Lehigh Acres, FL	4.0	2.0	1833	$1,775	$0.97	24d	1	1.07mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	3d	1	1.10mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	22d	1	1.10mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	4d	1	1.10mi
708 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	22d	1	1.12mi
862 Charles Sise St E Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	24d	1	1.16mi
763 Puccini Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	3d	1	1.19mi
1051 Marine Ave S Lehigh Acres, FL	3.0	2.0	1057	$1,800	$1.70	24d	1	1.20mi
711 Nimitz Blvd Lehigh Acres, FL	4.0	2.0	1571	$2,191	$1.39	4d	1	1.22mi
934 Marilyn Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	12d	1	1.27mi
934 Marilyn Ave S Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	2d	1	1.27mi
728 Crestline Ave S Lehigh Acres, FL	4.0	3.0	1904	$2,000	$1.05	22d	1	1.30mi
708 Genoa Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,650	$1.56	4d	1	1.31mi

Listing history 11 events

1. 2026-06-09
   statusdays on market $294,990 Pending 62 DOM
2. 2026-06-07
   days on market $294,990 Active 61 DOM
3. 2026-06-03
   days on market $294,990 Active 57 DOM
4. 2026-06-02
   days on market $294,990 Active 56 DOM
5. 2026-06-02
   status $294,990 Active 55 DOM
6. 2026-04-02
   listed $294,990 Active
7. 2026-03-05
   listed $294,990 Active 313-char remark

   Show marketing remark (313 chars)

   As one of Southwest Florida's most affordable real estate markets, Lehigh Acres is home to national and local businesses, championship golf courses, minutes from the Boston Red Sox spring training home at JetBlue Park, 12 miles from historic downtown Fort Myers and close to Gulf of Mexico beaches. DRE# 175519667

8. 2025-09-16
   soldstatus $21,000
9. 2005-06-16
   soldstatus $45,000
10. 2005-06-06
    soldstatus $31,000
11. 1991-06-27
    soldstatus $9,100

ⓘ 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 9/10 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: $25,313
• − Mortgage interest: −$16,524
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,025
• − Management: −$2,025
• − Depreciation: −$8,582
• Taxable loss: −$9,743
• Est. tax savings @ 24.0%: +$2,338
• After-tax cash flow: $-2,128/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

+3141.6% since first listed

6 events — show timeline

• 2026-04-02 Listed $294,990 FORTMLS
• 2026-03-05 Listed $294,990 Zillow
• 2025-09-16 Sold (Public Records) $21,000 Public Records
• 2005-06-16 Sold (Public Records) $45,000 Public Records
• 2005-06-06 Sold (Public Records) $31,000 Public Records
• 1991-06-27 Sold (Public Records) $9,100 Public Records

Property tax history

+10.4%/yr

Latest (2025): $384 · +12.1% YoY. Source: county tax records.