921 Norton Ave S · Lehigh Acres, FL 33974

$345,000

3 bd · 2.0 ba · 1,523 sqft · Land · 311 Days on market

Built 2025 10,001 sqft lot

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Why this score? — see what drove the F 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
• ARV discount +7.5/15.0
• Cash flow +5.0/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to this beautifully ready to move in 3-bedroom, 2-bathroom home with a spacious den, located in the sought-after Lehigh Acres community. This brand-new construction boasts a perfect blend of modern design and functional features, ideal for comfortable living. As you enter, you’re greeted by high tray ceilings and the sleek LVP flooring that flows throughout the open-concept layout, highlighting the home’s spaciousness and bright, airy feel. The heart of the home features a gourmet kitchen with gorgeous quartz countertops and backsplash, and a large island perfect for cooking and entertaining. High-end stainless steel appliances complete the space, making it a dream kitch

Key facts

• Quartz countertops
• High tray ceilings
• Impact doors

Tags

• GOURMET KITCHEN
• QUARTZ COUNTERTOPS
• LARGE ISLAND
• HIGH TRAY CEILINGS
• LVP FLOORING
• IMPACT DOORS

Property features AI

Finance

• Other: Single-unit community
• Financial info: Pets allowed
• HOA & community: Association fee includes grounds maintenance

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage with door opener
• Security: Key card entry; Smoke detectors
• Utilities: Water from well; Septic tank sewer; Cable available
• Home design: Single-story home; New construction (building permit); Faces west; RS-1 zoning
• Construction: Block, concrete and stucco construction; Shingle roof; New construction
• Exterior features: Patio; Open patio/porch; Porch; Sprinkler/irrigation system; Security/high-impact doors; Sprinklers automatic; Well irrigation source; Paved road access; East exposure

Interior

• Kitchen: Dishwasher; Icemaker; Microwave; Range; Refrigerator; Refrigerator with ice maker; Water purifier
• Bedrooms: Master bedroom (14.0 x 12.6); Bedroom (11.0 x 12.0); Bedroom (11.0 x 11.0); Den
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Tray ceilings; Separate/formal dining room; Kitchen island; Custom mirrors; Pantry; Separate shower and bathtub; Walk-in closets; Split bedroom layout; Display windows; Single hung windows; Impact glass; French doors; Unfurnished; Vinyl flooring
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $345k.

Deal economics

• At list price, monthly cash flow is $-814 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (34.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (42.4% below list).
• Recommended offer: $199k (42.4% below list) — sets the bar for 1% rule.
• Cap rate 3.5% vs local median 4.7% in Lehigh Acres — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 21d 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 33% 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 $37k of equity ($2k loan paydown + $34k 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 ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $345k implies a 3959% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,824 (42.4% 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 311 days. Have you received any prior offers? Is the seller open to a 42% 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: 0.58% ✗
• Cap rate: 3.46%
• Cash-on-cash: -10.11%
• DSCR: 0.55
• GRM: 14.5

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: 16.5%
• Equity multiple: 2.35×
• Total profit: $130,287
• Equity at exit: $310,803

10-year hold

• IRR: 15.3%
• Equity multiple: 5.29×
• Total profit: $414,044
• Equity at exit: $670,259

Cash invested: $96,600 (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 33974

• Home prices YoY: 5.8%
• Rents YoY: -4.7%
• Active inventory: 2460
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-814

Break-even live

Break-even rent $3,018

Max offer price $227,284

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
736 Barcia St E Lehigh Acres, FL	4.0	2.0	1833	$1,775	$0.97	23d	1	0.26mi
750 Newhall St E Lehigh Acres, FL	3.0	2.0	1147	$1,675	$1.46	23d	1	0.32mi
750 Newhall St E Lehigh Acres, FL	3.0	2.0	1147	$1,675	$1.46	19d	1	0.32mi
737 Almelia St E Lehigh Acres, FL	3.0	2.0	1404	$1,745	$1.24	21d	1	0.35mi
826 Dawhert Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	3d	1	0.40mi
711 Nimitz Blvd Lehigh Acres, FL	4.0	2.0	1571	$2,191	$1.39	3d	1	0.41mi
936 Joponica Ave S Lehigh Acres, FL	4.0	2.0	2101	$2,500	$1.19	23d	1	0.50mi
814 Crystal Ave S Lehigh Acres, FL	3.0	2.0	1865	$1,815	$0.97	23d	1	0.52mi
1076 Gunby Ave S Lehigh Acres, FL	3.0	2.0	1258	$2,100	$1.67	23d	1	0.53mi
1111 Gunby Ave S Unit S Lehigh Acres, FL	3.0	2.0	1546	$2,200	$1.42	2d	1	0.67mi
760 Festival Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	23d	1	0.71mi
652 Keller St E Lehigh Acres, FL	3.0	2.0	1417	$1,861	$1.31	21d	1	0.74mi
1018 Garnet Ave Lehigh Acres, FL	3.0	2.0	1381	$1,575	$1.14	23d	1	0.76mi
762 Gallo Ave S #764 Lehigh Acres, FL	3.0	2.0	1127	$1,195	$1.06	21d	1	0.83mi
907 Chenault St Lehigh Acres, FL	2.0	4.0	1200	$1,250	$1.04	14d	1	0.83mi
941 Elgin St Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	23d	1	0.86mi
925 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	23d	1	0.91mi
927 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	23d	1	0.91mi
728 Crestline Ave S Lehigh Acres, FL	4.0	3.0	1904	$2,000	$1.05	21d	1	0.96mi
930 Ainsworth St W Lehigh Acres, FL	3.0	2.0	1165	$1,395	$1.20	16d	1	0.98mi
771 Gaylord Ave S Lehigh Acres, FL	3.0	2.0	1523	$2,000	$1.31	23d	1	0.99mi
804 Gaylord Ave S Lehigh Acres, FL	4.0	2.0	1833	$1,875	$1.02	23d	1	0.99mi
915 Graystone Ave Lehigh Acres, FL	3.0	2.0	1115	$1,525	$1.37	14d	1	1.00mi
936 Eisenhower Blvd Lehigh Acres, FL	3.0	2.0	1300	$1,395	$1.07	3d	1	1.03mi
715 Bering Ave S Lehigh Acres, FL	3.0	2.0	1835	$1,895	$1.03	21d	1	1.06mi
558 Nimitz Blvd Lehigh Acres, FL	3.0	2.0	1186	$1,595	$1.34	23d	1	1.07mi
548 Knapp St Lehigh Acres, FL	3.0	2.0	1182	$1,565	$1.32	14d	1	1.10mi
758 Worth Ave Lehigh Acres, FL	3.0	2.0	1360	$2,000	$1.47	16d	1	1.12mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	21d	1	1.15mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	3d	1	1.15mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	3d	1	1.15mi
827 Eisenhower Blvd Lehigh Acres, FL	3.0	2.5	1640	$1,780	$1.09	11d	1	1.16mi
708 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	21d	1	1.16mi
819 Eisenhower Blvd Unit 819 Lehigh Acres, FL	3.0	2.0	1390	$1,650	$1.19	23d	1	1.18mi
719 Fullerton Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	19d	1	1.21mi
1135 Harvest Ave Unit A Lehigh Acres, FL	2.0	2.0	1150	$1,450	$1.26	14d	1	1.24mi
862 Charles Sise St E Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	23d	1	1.31mi
1089 Eisenhower Blvd Lehigh Acres, FL	4.0	2.0	1639	$2,000	$1.22	3d	1	1.35mi
756 Holmes Ave Lehigh Acres, FL	3.0	2.0	1100	$1,450	$1.32	10d	1	1.37mi
761 Kirkman Ave S Lehigh Acres, FL	3.0	2.0	1188	$1,900	$1.60	23d	1	1.42mi

Listing history 14 events

1. 2026-06-17
   days on market $345,000 Active 311 DOM
2. 2026-06-16
   days on market $345,000 Active 310 DOM
3. 2026-06-16
   days on market $345,000 Active 309 DOM
4. 2026-06-13
   days on market $345,000 Active 307 DOM
5. 2026-06-09
   days on market $345,000 Active 303 DOM
6. 2026-06-07
   days on market $345,000 Active 301 DOM
7. 2026-06-02
   days on market $345,000 Active 296 DOM
8. 2026-06-01
   days on market $345,000 Active 295 DOM
9. 2026-06-01
   days on market $345,000 Active 294 DOM
10. 2025-11-04
    price $345,000
11. 2025-08-29
    price $350,000
12. 2025-08-08
    listed $359,900 Active
13. 2022-01-18
    soldstatus $8,500
14. 2004-12-08
    soldstatus $22,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 25 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: $23,859
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$10,036
• Taxable loss: −$16,220
• Est. tax savings @ 24.0%: +$3,893
• After-tax cash flow: $-5,869/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

+1468.2% since first listed

5 events — show timeline

• 2025-11-04 Price Changed $345,000 FORTMLS
• 2025-08-29 Price Changed $350,000 FORTMLS
• 2025-08-08 Listed $359,900 FORTMLS
• 2022-01-18 Sold (Public Records) $8,500 Public Records
• 2004-12-08 Sold (Public Records) $22,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $422 · +11.6% YoY. Source: county tax records.