2748 Orange St · Fort Myers, FL 33916

$445,000

4 bd · 3.0 ba · 1,756 sqft · MultiFamily public records · 626 Days on market

Built 1984 7,710 sqft lot Est $390k · 14% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Knock, Knock! Who's there? Opportunity! If you are looking for an investment opportunity look no further. This Triplex is calling your name. Three units all with two bedrooms and one bathroom. One unit does have an additional half bath as well. New roof, new plumbing, new AC unit's all in the last two years, along with new wood laminate flooring in most of the bedrooms. Fenced in backyard. No leases in place currently. Rent in the area for units of this size go from $900 to $1000 a month. The units do have some basic furnishings in them and will convey with purchase. Being sold As-Is with the right to inspect. Call today to schedule your appointment to see it in person or schedule a virtual showing. BE SURE TO WATCH THE CASUAL WALK THROUGH VIDEO. You can go through each unit, see the street and neighborhood and learn more details about this multifamily home.

Key facts

• Quiet street
• Below market rent
• 7,710 sq ft lot

Tags

• TRIPLEX NEAR DOWNTOWN
• FULLY RENTED PROPERTY
• BELOW MARKET RENT
• QUIET STREET
• ENOUGH PARKING SPACES

Property features AI

Finance

• Financial info: Gross scheduled income: $40,980; Tenant pays electricity; Pets allowed
• HOA & community: Non-gated community; No association fee listed

Exterior

• Utilities: Cable available; Sewer assessment paid; Water assessment paid
• Home design: Resale multi-unit property (3 total units); Zoning: NR 1
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Rectangular lot; Lot dimensions approximately 52 x 152 x 50 x 152; Exterior listed as 'None' for additional features

Interior

• Bedrooms: Three rental units: two 1‑bedroom units and one 2‑bedroom unit (all unfurnished)
• Flooring: Tile throughout (interior listed as tile)
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Central electric cooling
• Interior features: Impact glass windows; Tile flooring

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $445k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $445k).
• Recommended offer: $392k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 3.0% 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.
• Market conditions: Rents falling (-4.3%/yr); 267 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $7,672/mo this rent would consume 175% of the median local household income ($53k/yr) (locally 2324% 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 $3k of loan paydown is wiped out by about $13k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $125k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 626 days — a 12% lower offer ($392k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y 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 $290k; list at $445k implies a 53% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $391,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 626 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 14.77%
• Cash-on-cash: 30.28%
• DSCR: 2.35
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $389,832
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2668-2674 Michigan Ave	0.38mi	4/2.0	1,800 (+2%)	12mo	$399,000	$222	64
2219 Jackson St	0.69mi	4/2.0	1,772 (+1%)	21mo	$265,000	$150	44

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: 21.6%
• Equity multiple: 1.85×
• Total profit: $105,683
• Equity at exit: $66,351

10-year hold

• IRR: 27.6%
• Equity multiple: 3.11×
• Total profit: $263,075
• Equity at exit: $38,475

Cash invested: $124,600 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 267
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $7,672 medium
• Mortgage (P&I): −$2,334
• Tax from tax record: −$398 /mo · $4,771/yr
• Insurance: −$185
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,611
• Net cashflow: $3,144

Break-even live

Break-even rent $3,692

Max offer price $445,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$7,671
Total (3 units)			$7,672

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2656 Lime St Fort Myers, FL	4.0	2.0	1232	$1,700	$1.38	3d	1	0.14mi
2579 Second St Fort Myers, FL	3.0	2.0	1404	$2,500	$1.78	15d	1	0.37mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1285	$2,300	$1.79	15d	1	0.42mi
3034 Price Ave Fort Myers, FL	3.0	2.0	1367	$2,100	$1.54	3d	1	0.47mi
2627 Saint Charles St Fort Myers, FL	4.0	2.0	1400	$1,850	$1.32	14d	1	0.51mi
2743 First St Unit 605 Fort Myers, FL	3.0	2.0	1721	$2,750	$1.60	23d	1	0.62mi
2743 1st St #2206 Fort Myers, FL	3.0	2.0	1756	$2,600	$1.48	23d	1	0.62mi
2743 1st St #2102 Fort Myers, FL	3.0	2.0	1656	$2,800	$1.69	23d	1	0.62mi
2743 1st St #803 Fort Myers, FL	3.0	2.0	1571	$5,500	$3.50	23d	1	0.62mi
2743 1st St #506 Fort Myers, FL	3.0	2.0	1663	$2,200	$1.32	23d	1	0.62mi
2743 1st St #304 Fort Myers, FL	3.0	2.0	1341	$2,300	$1.72	23d	1	0.62mi
2743 1st St #405 Fort Myers, FL	3.0	2.0	1721	$2,500	$1.45	23d	1	0.62mi
2745 1st St #1903 Fort Myers, FL	3.0	2.0	1408	$5,500	$3.91	23d	1	0.64mi
2745 1st St #404 Fort Myers, FL	3.0	2.0	1408	$2,750	$1.95	23d	1	0.64mi
2745 1st St #2602 Fort Myers, FL	3.0	2.0	1656	$6,000	$3.62	23d	1	0.64mi
2745 1st St #2703 Fort Myers, FL	3.0	2.0	1408	$3,000	$2.13	23d	1	0.64mi
2745 1st St #306 Fort Myers, FL	3.0	2.0	1602	$2,100	$1.31	23d	1	0.64mi
2825 Palm Beach Blvd Fort Myers, FL	1.0–3.0	1.5–2.5	990	$2,200	$2.22	10d	7	0.65mi
2745 1st St #1006 Fort Myers, FL	3.0	2.0	1721	$2,500	$1.45	23d	1	0.66mi
2797 1st St #1602 Fort Myers, FL	3.0	2.0	1459	$2,495	$1.71	23d	1	0.67mi
2797 First St Unit 1546387P Fort Myers, FL	3.0	3.0	1442	$3,059	$2.12	14d	1	0.67mi
2797 1st St #2202 Fort Myers, FL	3.0	2.5	1954	$4,300	$2.20	3d	1	0.67mi
2218 Quality Life Center Way Fort Myers, FL	4.0	2.0	1257	$2,250	$1.79	23d	1	0.68mi
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$2,021	$2.05	2d	34	0.71mi
2330 Hoople St Fort Myers, FL	3.0	2.0	1250	$1,750	$1.40	15d	1	0.72mi
2330 Union St Fort Myers, FL	3.0	1.0–2.0	951	$3,714	$3.90	3d	27	0.75mi
3000 Oasis Grand Blvd #2004 Fort Myers, FL	3.0	2.5	1708	$2,995	$1.75	23d	1	0.80mi
3000 Oasis Grand Blvd #801 Fort Myers, FL	3.0	2.5	1854	$4,000	$2.16	23d	1	0.80mi
3000 Oasis Grand Blvd #2004 Fort Myers, FL	3.0	2.5	1708	$2,995	$1.75	11d	1	0.80mi
3000 Oasis Grand Blvd #401 Fort Myers, FL	3.0	2.5	1854	$3,000	$1.62	23d	1	0.80mi
3000 Oasis Grand Blvd Unit LPH1 Fort Myers, FL	3.0	2.5	1584	$5,000	$3.16	15d	1	0.80mi
3040 Oasis Grand Blvd Fort Myers, FL	1.0–4.0	1.0–2.0	1444	$3,759	$2.60	1d	68	0.81mi
3306 Bassie Ct Fort Myers, FL	4.0	2.0	1257	$2,100	$1.67	23d	1	0.86mi
3341 Willard St Fort Myers, FL	4.0	2.0	1619	$2,500	$1.54	19d	1	1.02mi
3341 Willard St Fort Myers, FL	4.0	2.0	1257	$2,500	$1.99	15d	1	1.02mi
2132 Barker Blvd Fort Myers, FL	4.0	2.0	1979	$2,600	$1.31	3d	1	1.18mi
2132 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	1.18mi
2188 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	1.20mi
2104 W First St #2503 Fort Myers, FL	3.0	2.0	2140	$5,885	$2.75	23d	1	1.27mi
2104 W First St #1902 Fort Myers, FL	3.0	2.0	2140	$3,000	$1.40	23d	1	1.27mi

Listing history 24 events

1. 2026-06-01
   status $445,000 Pending 626 DOM
2. 2026-02-02
   price $445,000
3. 2025-08-19
   status Active
4. 2025-08-19
   price $375,000
5. 2025-08-10
   status Pending
6. 2025-07-01
   price $399,000
7. 2025-01-22
   status Active
8. 2024-12-11
   historical
9. 2024-07-22
   listed $450,000 Active
10. 2024-07-17
    historical
11. 2024-04-13
    price $470,000
12. 2024-02-02
    price $489,000
13. 2023-10-31
    status Active
14. 2023-07-29
    status Pending
15. 2023-07-17
    listed $530,000 Active
16. 2021-01-28
    soldstatus $290,000
17. 2021-01-22
    soldstatus $290,000 Closed 870-char remark

    Show marketing remark (870 chars)

    Knock, Knock! Who's there? Opportunity! If you are looking for an investment opportunity look no further. This Triplex is calling your name. Three units all with two bedrooms and one bathroom. One unit does have an additional half bath as well. New roof, new plumbing, new AC unit's all in the last two years, along with new wood laminate flooring in most of the bedrooms. Fenced in backyard. No leases in place currently. Rent in the area for units of this size go from $900 to $1000 a month. The units do have some basic furnishings in them and will convey with purchase. Being sold As-Is with the right to inspect. Call today to schedule your appointment to see it in person or schedule a virtual showing. BE SURE TO WATCH THE CASUAL WALK THROUGH VIDEO. You can go through each unit, see the street and neighborhood and learn more details about this multifamily home.

18. 2020-11-10
    status Pending 870-char remark

    Show marketing remark (870 chars)

    Knock, Knock! Who's there? Opportunity! If you are looking for an investment opportunity look no further. This Triplex is calling your name. Three units all with two bedrooms and one bathroom. One unit does have an additional half bath as well. New roof, new plumbing, new AC unit's all in the last two years, along with new wood laminate flooring in most of the bedrooms. Fenced in backyard. No leases in place currently. Rent in the area for units of this size go from $900 to $1000 a month. The units do have some basic furnishings in them and will convey with purchase. Being sold As-Is with the right to inspect. Call today to schedule your appointment to see it in person or schedule a virtual showing. BE SURE TO WATCH THE CASUAL WALK THROUGH VIDEO. You can go through each unit, see the street and neighborhood and learn more details about this multifamily home.

19. 2020-10-30
    listed $295,000 Active 870-char remark

    Show marketing remark (870 chars)

    Knock, Knock! Who's there? Opportunity! If you are looking for an investment opportunity look no further. This Triplex is calling your name. Three units all with two bedrooms and one bathroom. One unit does have an additional half bath as well. New roof, new plumbing, new AC unit's all in the last two years, along with new wood laminate flooring in most of the bedrooms. Fenced in backyard. No leases in place currently. Rent in the area for units of this size go from $900 to $1000 a month. The units do have some basic furnishings in them and will convey with purchase. Being sold As-Is with the right to inspect. Call today to schedule your appointment to see it in person or schedule a virtual showing. BE SURE TO WATCH THE CASUAL WALK THROUGH VIDEO. You can go through each unit, see the street and neighborhood and learn more details about this multifamily home.

20. 2018-12-14
    soldstatus $235,000 Sold
21. 2018-11-12
    status Pending
22. 2018-10-17
    status Active
23. 2018-10-11
    status Pending
24. 2018-09-20
    listed $259,000 Active

ⓘ 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: $4,771 · $398/mo
• Projected year-2 tax: $4,771 · $398/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 · 31 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: $92,064
• − Mortgage interest: −$24,927
• − Property taxes: −$4,771
• − Insurance: −$2,225
• − Repairs & maintenance: −$7,365
• − Management: −$7,365
• − Depreciation: −$12,945
• Taxable income: $32,465
• Est. tax owed @ 24.0%: −$7,792
• After-tax cash flow: $29,939/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): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

+71.8% since first listed

23 events — show timeline

• 2026-02-02 Price Changed $445,000 FORTMLS
• 2025-08-19 Relisted — FORTMLS
• 2025-08-19 Price Changed $375,000 FORTMLS
• 2025-08-10 Pending — FORTMLS
• 2025-07-01 Price Changed $399,000 FORTMLS
• 2025-01-22 Relisted — FORTMLS
• 2024-12-11 Listing Removed — FORTMLS
• 2024-07-22 Listed $450,000 FORTMLS
• 2024-07-17 Listing Removed — FORTMLS
• 2024-04-13 Price Changed $470,000 FORTMLS
• 2024-02-02 Price Changed $489,000 FORTMLS
• 2023-10-31 Relisted — FORTMLS
• 2023-07-29 Pending — FORTMLS
• 2023-07-17 Listed $530,000 FORTMLS
• 2021-01-28 Sold (Public Records) $290,000 Public Records
• 2021-01-22 Sold (MLS) $290,000 FORTMLS
• 2020-11-10 Pending — FORTMLS
• 2020-10-30 Listed $295,000 FORTMLS
• 2018-12-14 Sold (MLS) $235,000 FORTMLS
• 2018-11-12 Pending — FORTMLS
• 2018-10-17 Relisted — FORTMLS
• 2018-10-11 Pending — FORTMLS
• 2018-09-20 Listed $259,000 FORTMLS

Property tax history

+16.2%/yr

Latest (2025): $4,771 · +7.5% YoY. Source: county tax records.