461/463 Loretta Ave S · Lehigh Acres, FL 33974

$378,900

6 bd · 4.0 ba · 2,252 sqft · MultiFamily public records · 137 Days on market

Built 2006 0.25 ac lot Est $502k · 25% under

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Why this score? — see what drove the B- 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 +21.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0

Multi-family units

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

Listing remarks MLS

Bank owned affordable duplex, only 2 years old, cbs construction, 2 bedrooms, 2 baths and a den on each side. Home is missing A/C's, appliances, electric breakers and hot water heaters. Home is being sold As Is with right to inspect. All buyers must be pre-qualified with Wells Fargo Home Mortgage.

Key facts

• Interior laundry
• Walk-in closets
• Fully tiled

Tags

• ROOF FROM 2024
• FULLY TILED
• WALK-IN CLOSETS
• INTERIOR LAUNDRY
• PLENTY OF STORAGE SPACE
• LARGE SURFACE COUNTERS

Property features AI

Finance

• Other: Tenants pay cable TV, electricity, grounds care, internet and telephone; Pets allowed
• Financial info: Gross scheduled income: $13,800; Operating expenses: $3,650; One unit reported actual/pro forma rent of $1,150 (both units show similar unit types)
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: No specific parking information provided
• Security: No specific security features provided
• Utilities: Cable available; Septic tank; Well water
• Home design: Multifamily property with 2 total units; Resale property; Zoned RM-2
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Rectangular lot; Lot dimensions approximately 82 x 125 x 82 x 125; 0.25-acre lot

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Two 3-bedroom units (each unit includes an open lanai/porch and in-residence laundry)
• Flooring: Tile
• Bathrooms: Four full bathrooms total (two full bathrooms per unit)
• Heating & cooling: Central heating (electric); Central air conditioning with ceiling fans
• Interior features: Single-hung windows; Tile flooring
• Laundry & utility: Laundry in each residence; Water softener

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive. Per door: $299/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $378k (0.2% below list).
• Recommended offer: $333k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 falling (-4.7%/yr); 2460 active listings in the ZIP; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,782/mo this rent would consume 63% of the median local household income ($72k/yr) (locally 434% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $106k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($333k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $379k implies a 589% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $333,432 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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. 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?
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 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: 1.00% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $502,196
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314/316 Limerick Ave S	0.75mi	6/4.0	2,398 (+6%)	13mo	$535,000	$223	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 3.20×
• Total profit: $233,298
• Equity at exit: $341,343

10-year hold

• IRR: 23.7%
• Equity multiple: 7.00×
• Total profit: $637,045
• Equity at exit: $736,119

Cash invested: $106,092 (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: 16.7×

Monthly cashflow live

• Estimated rent: $3,782 high
• Mortgage (P&I): −$1,987
• Tax from tax record: −$245 /mo · $2,935/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $598

Break-even live

Break-even rent $3,025

Max offer price $378,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,782
Total (2 units)			$3,782

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: $94,725
• Closing costs: $11,367
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-17
   days on market $378,900 Active 137 DOM
2. 2026-06-16
   days on market $378,900 Active 136 DOM
3. 2026-06-15
   days on market $378,900 Active 135 DOM
4. 2026-06-13
   days on market $378,900 Active 133 DOM
5. 2026-06-10
   days on market $378,900 Active 130 DOM
6. 2026-06-09
   days on market $378,900 Active 129 DOM
7. 2026-06-07
   days on market $378,900 Active 127 DOM
8. 2026-06-02
   days on market $378,900 Active 122 DOM
9. 2026-06-01
   days on market $378,900 Active 121 DOM
10. 2026-06-01
    days on market $378,900 Active 120 DOM
11. 2026-04-27
    price $378,900
12. 2026-04-02
    price $384,900
13. 2026-02-19
    price $389,900
14. 2026-01-30
    listed $394,900 Active
15. 2015-03-02
    price $53,900 298-char remark

    Show marketing remark (298 chars)

    Bank owned affordable duplex, only 2 years old, cbs construction, 2 bedrooms, 2 baths and a den on each side. Home is missing A/C's, appliances, electric breakers and hot water heaters. Home is being sold As Is with right to inspect. All buyers must be pre-qualified with Wells Fargo Home Mortgage.

16. 2009-02-26
    soldstatus $55,000 298-char remark

    Show marketing remark (298 chars)

    Bank owned affordable duplex, only 2 years old, cbs construction, 2 bedrooms, 2 baths and a den on each side. Home is missing A/C's, appliances, electric breakers and hot water heaters. Home is being sold As Is with right to inspect. All buyers must be pre-qualified with Wells Fargo Home Mortgage.

17. 2006-03-17
    soldstatus $299,900 110-char remark

    Show marketing remark (110 chars)

    Brand new duplex for sale. Quality construction, tile floors in entire home. A must see! Don't wait to build!

ⓘ 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: $2,935 · $245/mo
• Projected year-2 tax: $3,145 · $262/mo
• Expected delta: +$210/yr (+$17/mo · 7.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 27 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: $45,384
• − Mortgage interest: −$21,224
• − Property taxes: −$2,935
• − Insurance: −$1,894
• − Repairs & maintenance: −$3,631
• − Management: −$3,631
• − Depreciation: −$11,023
• Taxable income: $1,046
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $6,929/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

+26.3% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $378,900 FORTMLS
• 2026-04-02 Price Changed $384,900 FORTMLS
• 2026-02-19 Price Changed $389,900 FORTMLS
• 2026-01-30 Listed $394,900 FORTMLS
• 2015-03-02 Price Changed $53,900 FORTMLS
• 2009-02-26 Sold (MLS) $55,000 FORTMLS
• 2006-03-17 Sold (MLS) $299,900 FORTMLS

Property tax history

+8.8%/yr

Latest (2022): $2,935 · +19.0% YoY. Source: county tax records.