2604 51st St SW · Lehigh Acres, FL 33976

$260,000

3 bd · 2.0 ba · 1,058 sqft · Land · 40 Days on market

Built 2026 0.25 ac 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 +8.1/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Rent growth +2.1/5.0

Listing remarks MLS

Build your dream home on this quarter acre lot in the growing community of Lehigh Acres. Easy access to SR82, Fort Myers Airport, schools, churches, shopping and restaurants. Come and enjoy all that SW Florida has to offer.

Key facts

• 0.25 acre lot
• 2 parking spots
• Built 2026

Property features AI

Finance

• Other: Lot is rectangular with dimensions 80 x 125 x 80 x 125; Lot size approximately 0.25 acres; Road maintained by public entity; Property zoned RS-1; Lot exposures face north
• Financial info: Pets allowed
• HOA & community: No association fee listed

Exterior

• Parking: Two parking spaces
• Security: Smoke detectors
• Utilities: Well water; Septic tank; Cable not available
• Home design: Single-story; New construction; South-facing entry
• Construction: Block, concrete, and stucco construction; Shingle roof
• Exterior features: Patio; Automatic sprinklers; Pond on lot; Security/high impact doors; Patio

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric air conditioning
• Interior features: Impact glass windows; Closet cabinetry; Family/dining room; Living/dining room; Separate shower (shower only); Split bedroom floorplan; Unfurnished
• Laundry & utility: Laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $260k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (24.9% below list).
• Recommended offer: $195k (24.9% 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 soft (-1.5%/yr); 786 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 32% 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 $28k of equity ($2k loan paydown + $26k 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 ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $20k; list at $260k implies a 1200% 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; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,155 (24.9% 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 40 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.75% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• GRM: 11.1

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: 20.4%
• Equity multiple: 2.64×
• Total profit: $119,667
• Equity at exit: $234,229

10-year hold

• IRR: 18.0%
• Equity multiple: 5.88×
• Total profit: $354,994
• Equity at exit: $505,123

Cash invested: $72,800 (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: 11.1×

Monthly cashflow live

• Estimated rent: $1,952 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-255

Break-even live

Break-even rent $2,274

Max offer price $223,090

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2513 48th St SW Lehigh Acres, FL	3.0	2.0	1423	$1,750	$1.23	16d	1	0.16mi
4701 Connie Ave S Lehigh Acres, FL	3.0	2.0	1314	$1,900	$1.45	14d	1	0.21mi
2517 56th St SW Lehigh Acres, FL	3.0	2.0	1104	$1,499	$1.36	2d	1	0.35mi
2819 51st St SW Lehigh Acres, FL	4.0	2.0	1472	$2,250	$1.53	23d	1	0.43mi
2908 51st St SW Lehigh Acres, FL	3.0	2.0	1401	$1,796	$1.28	3d	1	0.52mi
577 Pierre Cir Lehigh Acres, FL	3.0	2.0	1223	$1,540	$1.26	10d	1	0.57mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,000	$1.42	3d	1	0.64mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,100	$1.49	23d	1	0.64mi
813 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1200	$1,495	$1.25	23d	1	0.74mi
4702 Loraine Ave S Lehigh Acres, FL	3.0	2.0	1354	$2,000	$1.48	14d	1	0.78mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,960	$1.40	3d	1	0.82mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,930	$1.38	2d	1	0.82mi
177 Pennfield St Lehigh Acres, FL	3.0	2.0	1250	$1,850	$1.48	23d	1	0.94mi
749 Alabama Rd S Unit 749 Lehigh Acres, FL	3.0	2.0	1275	$1,800	$1.41	2d	1	0.95mi
3001 37th St SW Lehigh Acres, FL	3.0	2.5	1235	$1,705	$1.38	23d	1	1.00mi
3012 40th St SW Lehigh Acres, FL	3.0	2.0	1427	$1,950	$1.37	23d	1	1.00mi
3102 39th St SW Lehigh Acres, FL	3.0	2.0	1097	$1,630	$1.49	21d	1	1.14mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	3d	1	1.21mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	16d	1	1.21mi
664 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1181	$1,200	$1.02	23d	1	1.22mi
662 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1181	$1,200	$1.02	23d	1	1.22mi
234 Pullman St Lehigh Acres, FL	3.0	2.0	1392	$1,800	$1.29	23d	1	1.27mi
2612 31st St Lehigh Acres, FL	4.0	2.0	1365	$1,799	$1.32	14d	1	1.29mi
2612 31st St Lehigh Acres, FL	4.0	2.0	1389	$1,799	$1.30	16d	1	1.29mi
19542 Fairhill Ct Lehigh Acres, FL	3.0	2.0	1429	$1,700	$1.19	23d	1	1.30mi
137 Milwaukee Blvd Lehigh Acres, FL	3.0	2.0	1170	$1,600	$1.37	23d	1	1.32mi
430 Petite Ave Lehigh Acres, FL	3.0	2.0	1189	$1,850	$1.56	14d	1	1.32mi
98 Milwaukee Blvd Lehigh Acres, FL	2.0	2.0	1221	$1,325	$1.09	23d	1	1.33mi
98 Milwaukee Blvd Lehigh Acres, FL	2.0	2.0	1221	$1,325	$1.09	3d	1	1.33mi
115 Milwaukee Blvd Lehigh Acres, FL	3.0	2.0	1209	$1,600	$1.32	23d	1	1.33mi
320 Poplar St Lehigh Acres, FL	3.0	2.0	1223	$1,900	$1.55	19d	1	1.41mi
322 Poplar St Lehigh Acres, FL	3.0	2.0	1199	$2,000	$1.67	23d	1	1.42mi
839 Yellowbird Dr Fort Myers, FL	3.0	2.0	1461	$1,895	$1.30	23d	1	1.42mi

Listing history 23 events

1. 2026-06-17
   days on market $260,000 Active 40 DOM
2. 2026-06-16
   days on market $260,000 Active 39 DOM
3. 2026-06-15
   days on market $260,000 Active 38 DOM
4. 2026-06-13
   days on market $260,000 Active 36 DOM
5. 2026-06-10
   days on market $260,000 Active 33 DOM
6. 2026-06-09
   days on market $260,000 Active 32 DOM
7. 2026-06-08
   days on market $260,000 Active 31 DOM
8. 2026-06-07
   days on market $260,000 Active 30 DOM
9. 2026-06-03
   days on market $260,000 Active 26 DOM
10. 2026-06-02
    days on market $260,000 Active 25 DOM
11. 2026-06-01
    days on market $260,000 Active 24 DOM
12. 2026-05-31
    days on market $260,000 Active 23 DOM
13. 2026-05-23
    status Pending
14. 2026-05-05
    listed $260,000 Active
15. 2023-06-05
    soldstatus $20,000 Closed 223-char remark

    Show marketing remark (223 chars)

    Build your dream home on this quarter acre lot in the growing community of Lehigh Acres. Easy access to SR82, Fort Myers Airport, schools, churches, shopping and restaurants. Come and enjoy all that SW Florida has to offer.

16. 2023-06-05
    soldstatus $20,000

    Show marketing remark (223 chars)

    Build your dream home on this quarter acre lot in the growing community of Lehigh Acres. Easy access to SR82, Fort Myers Airport, schools, churches, shopping and restaurants. Come and enjoy all that SW Florida has to offer.

17. 2023-05-11
    status Pending 223-char remark

    Show marketing remark (223 chars)

    Build your dream home on this quarter acre lot in the growing community of Lehigh Acres. Easy access to SR82, Fort Myers Airport, schools, churches, shopping and restaurants. Come and enjoy all that SW Florida has to offer.

18. 2023-04-24
    listed $21,500 Active 223-char remark

    Show marketing remark (223 chars)

    Build your dream home on this quarter acre lot in the growing community of Lehigh Acres. Easy access to SR82, Fort Myers Airport, schools, churches, shopping and restaurants. Come and enjoy all that SW Florida has to offer.

19. 2019-03-28
    soldstatus $4,656 Sold 140-char remark

    Show marketing remark (140 chars)

    Excellent location ready to build your dream house. Convenient to Ft Myers, the airport, interstate and close to everything in Lehigh Acres.

20. 2019-03-28
    soldstatus $4,656 140-char remark

    Show marketing remark (140 chars)

    Excellent location ready to build your dream house. Convenient to Ft Myers, the airport, interstate and close to everything in Lehigh Acres.

21. 2019-02-26
    status Pending 140-char remark

    Show marketing remark (140 chars)

    Excellent location ready to build your dream house. Convenient to Ft Myers, the airport, interstate and close to everything in Lehigh Acres.

22. 2019-02-08
    listed $5,000 Active 140-char remark

    Show marketing remark (140 chars)

    Excellent location ready to build your dream house. Convenient to Ft Myers, the airport, interstate and close to everything in Lehigh Acres.

23. 2019-02-08
    listed $5,000 140-char remark

    Show marketing remark (140 chars)

    Excellent location ready to build your dream house. Convenient to Ft Myers, the airport, interstate and close to everything in Lehigh Acres.

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $23,419
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − Depreciation: −$7,564
• Taxable loss: −$7,656
• Est. tax savings @ 24.0%: +$1,837
• After-tax cash flow: $-1,223/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

+5100.0% since first listed

11 events — show timeline

• 2026-05-23 Pending — FORTMLS
• 2026-05-05 Listed $260,000 FORTMLS
• 2023-06-05 Sold (Public Records) $20,000 Public Records
• 2023-06-05 Sold (MLS) $20,000 FORTMLS
• 2023-05-11 Pending — FORTMLS
• 2023-04-24 Listed $21,500 FORTMLS
• 2019-03-28 Sold (MLS) $4,656 WCARE
• 2019-03-28 Sold (MLS) $4,656 FORTMLS
• 2019-02-26 Pending — FORTMLS
• 2019-02-08 Listed $5,000 WCARE
• 2019-02-08 Listed $5,000 FORTMLS

Property tax history

+19.5%/yr

Latest (2025): $504 · +10.2% YoY. Source: county tax records.