349 Joel Blvd #101 · Lehigh Acres, FL 33936

$89,900

2 bd · 1.0 ba · 744 sqft · Condo public records · 87 Days on market

Built 1970 $300/mo HOA · 22% of rent

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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 +24.4/30.0
• 1% rule +10.0/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

Key facts

• New a c system
• New hot water heater
• Move in ready

Tags

• MOVE IN READY
• NEW A C SYSTEM
• NEW ELECTRICAL PANEL
• NEW HOT WATER HEATER
• STAINLESS STEEL APPLIANCES
• NEW LUXURY PLANK FLOORING

Property features AI

Finance

• Other: Unfurnished; Directions note: Joel Blvd to Fairways 1, north side of Joel, first building on the right, bottom right unit
• Financial info: Total monthly fees $300; total annual fees $3,600; Lease restrictions apply
• HOA & community: Monthly condo fee $300; Association name: Evelyn Palmisano; Association approval required; Association amenities include pool; fee covers pool, common area taxes, maintenance of structure and grounds, management, trash, escrow reserves; Community features include community mailbox and pool; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking (spot 101 mentioned in directions)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Broadband/High-speed internet available
• Home design: Condominium (residential); One level; Faces southeast
• Construction: Concrete construction; Shingle roof; Slab foundation; Built with a building/unit numbering (Building 349)
• Exterior features: Covered, enclosed patio/porch; Awnings; Sidewalk

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Window treatments; Elevator not in building
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 (-0.8%/yr); 641 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $90k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• 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 $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.54% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.69%
• DSCR: 1.39
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.73×
• Total profit: $-6,814
• Equity at exit: $13,404

10-year hold

• IRR: -4.3%
• Equity multiple: 0.77×
• Total profit: $-5,834
• Equity at exit: $7,773

Cash invested: $25,172 (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 33936

• Home prices YoY: -19.9%
• Rents YoY: -0.8%
• Active inventory: 641
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$100 /mo · $1,205/yr
• Insurance: −$37
• HOA: −$300
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $182

Break-even live

Break-even rent $1,151

Max offer price $89,900

Occupancy floor 82%

Sensitivity live

Price	-10% $233	-5% $208	+0% $182	+5% $157	+10% $131
Rent	-10% $73	-5% $128	+0% $182	+5% $237	+10% $291
Rate	-1.0pp $227	-0.5pp $205	base $182	+0.5pp $159	+1.0pp $135

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
623 Joel Blvd Unit A Lehigh Acres, FL	2.0	1.0	380	$1,200	$3.16	24d	1	0.90mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: waterelectricpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-01
   remarks 687-char remark
2. 2026-06-01
   statusdays on market $89,900 Pending 87 DOM
3. 2026-05-20
   price $89,900

   Show marketing remark (1209 chars)

   UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

4. 2026-05-20
   price $89,900 1209-char remark

   Show marketing remark (1209 chars)

   UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

5. 2026-04-23
   price $94,700

   Show marketing remark (1209 chars)

   UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

6. 2026-04-23
   price $94,700 1209-char remark

   Show marketing remark (1209 chars)

   UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

7. 2026-03-05
   listed $97,500 Active

   Show marketing remark (1209 chars)

   UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

8. 2026-03-05
   listed $97,500 Active 1209-char remark

   Show marketing remark (1209 chars)

   UPDATED AND MOVE-IN READY in the desirable Fairways Condo 55+ community of Lehigh Acres! This beautifully renovated first-floor 2-bedroom, 1-bath unit offers peace of mind with major improvements already completed, including a new A/C system, new electrical panel, new hot water heater, and brand-new stainless steel appliances. Inside, you’ll find new luxury plank flooring, fresh interior paint, and a tastefully updated bathroom — giving the home a clean, fresh feel from the moment you walk in. The bright sunroom provides additional flexible living space, perfect for morning coffee, a reading nook, and overall relaxation. The location within the community is exceptional — this unit is just steps to its assigned parking space for easy access and close to the community pool, making it effortless to enjoy the Southwest Florida lifestyle year-round. Not only that, the Roof to the building is new as of 2023! Fairways Condo offers low monthly fees and a convenient location near golf courses, shopping, dining, hospitals, and more. Whether you’re seeking a seasonal getaway or full-time Florida living, this property offers comfort, convenience, and carefree living all in one.

9. 1996-09-24
   soldstatus $32,500
10. 1995-12-15
    soldstatus $31,000

ⓘ 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: $1,205 · $100/mo
• Projected year-2 tax: $1,205 · $100/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 ≥108°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,580
• − Mortgage interest: −$5,036
• − Property taxes: −$1,205
• − Insurance: −$450
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − HOA: −$3,600
• − Depreciation: −$2,615
• Taxable income: $1,022
• Est. tax owed @ 24.0%: −$245
• After-tax cash flow: $1,941/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): 27,967
• Household income: $51,417
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 1027.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 44% White 41% Two or more races 21% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 9% Cuban 18% Dominican 2%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 1%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 36% French/Haitian/Cajun 3% Tagalog/Filipino 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: ▼ -86.78%
• Current HPI: 348.8631
• Rent YoY: ▼ -0.77%
• 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

+190.0% since first listed

8 events — show timeline

• 2026-05-20 Price Changed $89,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-20 Price Changed $89,900 FORTMLS
• 2026-04-23 Price Changed $94,700 Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $94,700 FORTMLS
• 2026-03-05 Listed $97,500 FORTMLS
• 2026-03-05 Listed $97,500 Stellar MLS as Distributed by MLS Grid
• 1996-09-24 Sold (Public Records) $32,500 Public Records
• 1995-12-15 Sold (Public Records) $31,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $1,205 · +0.5% YoY. Source: county tax records.