20483 Copperhead Dr

Lehigh Acres, FL 33936

$274,990D-

3 bd · 3.0 ba · 1,849 sqft · Built 2025 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,259/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$369
• HOA: −$470
• Vac / Maint / Mgmt: −$474
• Net cashflow: $-497/mo
• Annual: $-5,963/yr
• Cap rate: 4.12%
• Cash-on-cash: -7.74%
• DSCR: 0.66
• 1% rule: 0.82%
• Cash to close: $76,997

Investor read

• This is a 3-bed/3.0-bath single-family listed at $275k. Condition is rated excellent.
• At list price, monthly cash flow is $-497 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (31.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (17.9% below list).
• It's been on market 108 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $187k (31.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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).
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents soft (-0.8%/yr); 940 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 77d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts; this cycle's ask is 11856% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At $2,259/mo this rent would consume 53% of the median local household income ($51k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.