3902 28th St SW · Lehigh Acres, FL 33976

$291,000

3 bd · 2.0 ba · 1,309 sqft · SingleFamily · 26 Days on market

Built 2026 10,454 sqft lot Est $276k · 5% over

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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 +7.1/30.0
• ARV discount +5.1/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +1.9/10.0
• DSCR +1.3/10.0

Listing remarks

Tile floors all main areas, quartz countertops in kitchen and baths, truss covered rear lanai! The INDIGO Floor plan is a smart stylish 3-bedroom, 2 bathroom home with 1,309 square feet of living space, designed for modern living. Perfect for first time homebuyers, small families, or those looking to down size, this home combines comfort, functionality and affordability. This home comes with one full year of builders non-transferable coverage and a 10-year limited structural warranty.

Key facts

• Quartz countertops
• Tile floors
• Indigo floor plan

Tags

• TILE FLOORS
• QUARTZ COUNTERTOPS
• TRUSS COVERED REAR LANAI
• INDIGO FLOOR PLAN

Property features AI

Finance

• Financial info: List price $291,000

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family property (Spec, Plan name: Indigo)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area of 1309

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $291k.

Deal economics

• At list price, monthly cash flow is $-415 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (30.6% below list).
• Recommended offer: $202k (30.6% 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+, 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).
• Market conditions: Rents soft (-1.5%/yr); 788 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k 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 ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($287k) is reasonable based on typical stale-listing flexibility.

Recommended offer $202,028 (30.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.69% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.11%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $276,199
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2905 Villa Ave S	0.34mi	3/2.0	1,289 (-2%)	12mo	$245,000	$190	71
4008 27th St SW	0.18mi	3/2.0	1,416 (+8%)	11mo	$292,000	$206	69
3913 16th St W	0.71mi	3/2.0	1,328 (+2%)	1mo	$279,999	$211	64
3604 27th St SW	0.42mi	3/2.0	1,363 (+4%)	13mo	$272,000	$200	63
4218 26th St SW	0.65mi	3/2.0	1,357 (+4%)	6mo	$330,000	$243	59
4004 36th St SW	0.50mi	3/2.0	1,357 (+4%)	16mo	$308,000	$227	57
3407 25th St SW	0.72mi	3/2.0	1,272 (-3%)	7mo	$230,000	$181	56
3704 33rd St SW	0.41mi	3/2.0	1,503 (+15%)	3mo	$285,000	$190	54
3614 22nd St SW	0.52mi	3/2.0	1,408 (+8%)	11mo	$289,000	$205	54
3304 Vera Ave S	0.55mi	3/2.0	1,430 (+9%)	14mo	$305,000	$213	48
3414 34th St SW	0.74mi	3/2.0	1,400 (+7%)	13mo	$311,630	$223	43
3807 20th St SW	0.46mi	4/2.0 (+1)	1,152 (-12%)	13mo	$243,000	$211	42

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: 19.2%
• Equity multiple: 2.55×
• Total profit: $126,164
• Equity at exit: $262,156

10-year hold

• IRR: 17.1%
• Equity multiple: 5.69×
• Total profit: $381,777
• Equity at exit: $565,349

Cash invested: $81,480 (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: 788
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$1,526
• Tax est. 1.5%: −$364 /mo · $4,365/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-415

Break-even live

Break-even rent $2,546

Max offer price $230,947

Occupancy floor —

Sensitivity live

Price	-10% $-214	-5% $-314	+0% $-415	+5% $-516	+10% $-616
Rent	-10% $-575	-5% $-495	+0% $-415	+5% $-335	+10% $-255
Rate	-1.0pp $-268	-0.5pp $-341	base $-415	+0.5pp $-490	+1.0pp $-567

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: $72,750
• Closing costs: $8,730
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4021 28th St SW Lehigh Acres, FL	3.0	2.0	1529	$1,800	$1.18	25d	1	0.25mi
2904 Wanda Ave S Lehigh Acres, FL	3.0	2.0	1501	$1,900	$1.27	25d	1	0.28mi
4001 22nd St SW Lehigh Acres, FL	3.0	2.0	1055	$1,950	$1.85	4d	1	0.37mi
2504 Vera Ave S Lehigh Acres, FL	3.0	3.0	1643	$2,400	$1.46	25d	1	0.41mi
3802 35th St SW Lehigh Acres, FL	3.0	2.0	1269	$1,640	$1.29	25d	1	0.43mi
3604 29th St SW Lehigh Acres, FL	3.0	2.5	1776	$2,500	$1.41	25d	1	0.44mi
4101 33rd St SW Lehigh Acres, FL	3.0	2.0	1698	$2,200	$1.30	16d	1	0.44mi
4020 36th St SW Lehigh Acres, FL	3.0	2.0	1354	$2,050	$1.51	25d	1	0.54mi
4203 23rd St SW Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	21d	1	0.55mi
3714 17th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,890	$1.03	25d	1	0.72mi
3600 19th St SW Lehigh Acres, FL	3.0	2.0	1114	$1,746	$1.57	5d	1	0.75mi
4221 18th St SW Lehigh Acres, FL	3.0	2.5	1600	$2,600	$1.62	16d	1	0.85mi
4412 25th St SW Lehigh Acres, FL	3.0	2.0	1205	$1,700	$1.41	23d	1	0.88mi
4421 25th St SW Lehigh Acres, FL	3.0	2.0	1253	$1,250	$1.00	12d	1	0.93mi
1578 Gretchen Ave S Lehigh Acres, FL	3.0	2.0	1728	$2,000	$1.16	25d	1	0.93mi
4401 22nd St SW Lehigh Acres, FL	3.0	2.0	1109	$1,345	$1.21	25d	1	0.94mi
1511 Terry Ave S Lehigh Acres, FL	3.0	2.0	1579	$1,996	$1.26	25d	1	0.96mi
3313 36th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,300	$1.33	25d	1	0.99mi
1101 Meadow Rd Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	25d	1	0.99mi
3702 14th St SW Lehigh Acres, FL	4.0	2.0	1472	$1,995	$1.36	25d	1	0.99mi
1103 Meadow Rd Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	25d	1	0.99mi
1544 Gretchen Ave S Lehigh Acres, FL	2.0	2.0	1221	$1,800	$1.47	25d	1	1.02mi
4005 12th St SW Lehigh Acres, FL	3.0	2.0	1122	$1,610	$1.43	21d	1	1.04mi
4435 27th St SW Lehigh Acres, FL	3.0	2.0	1158	$1,250	$1.08	21d	1	1.05mi
4440 28th St SW Lehigh Acres, FL	3.0	2.0	1200	$1,495	$1.25	13d	1	1.06mi
4507 20th St SW Lehigh Acres, FL	2.0	2.0	1135	$1,400	$1.23	25d	1	1.09mi
3201 28th St Lehigh Acres, FL	4.0	2.0	1389	$2,000	$1.44	5d	1	1.10mi
3203 24th St SW Lehigh Acres, FL	3.0	2.0	1498	$2,300	$1.54	23d	1	1.10mi
3201 29th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,950	$1.06	5d	1	1.11mi
4512 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,350	$1.29	25d	1	1.12mi
4512 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,300	$1.24	5d	1	1.12mi
4514 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,300	$1.24	5d	1	1.13mi
4514 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,350	$1.29	25d	1	1.13mi
3201 23rd St SW Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	23d	1	1.13mi
4453 29th St SW Lehigh Acres, FL	3.0	2.0	1198	$1,660	$1.39	25d	1	1.14mi
4455 29th St SW Lehigh Acres, FL	3.0	2.0	1198	$1,660	$1.39	25d	1	1.14mi
4458 29th St SW Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	25d	1	1.15mi
4460 29th St SW Lehigh Acres, FL	2.0	2.0	1024	$1,500	$1.46	25d	1	1.15mi
1502 Gretchen Ave S Lehigh Acres, FL	3.0	2.0	1270	$2,000	$1.57	5d	1	1.16mi
4523 22nd St SW Lehigh Acres, FL	3.0	2.0	1125	$1,700	$1.51	25d	1	1.16mi

Listing history 13 events

1. 2026-06-22
   days on market $291,000 Active 26 DOM
2. 2026-06-17
   days on market $291,000 Active 22 DOM
3. 2026-06-16
   days on market $291,000 Active 21 DOM
4. 2026-06-15
   days on market $291,000 Active 20 DOM
5. 2026-06-13
   days on market $291,000 Active 18 DOM
6. 2026-06-10
   days on market $291,000 Active 15 DOM
7. 2026-06-09
   days on market $291,000 Active 14 DOM
8. 2026-06-08
   days on market $291,000 Active 13 DOM
9. 2026-06-07
   days on market $291,000 Active 12 DOM
10. 2026-06-03
    days on market $291,000 Active 8 DOM
11. 2026-06-02
    days on market $291,000 Active 7 DOM
12. 2026-06-01
    days on market $291,000 Active 6 DOM
13. 2026-05-31
    days on market $291,000 Active 5 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,243
• − Mortgage interest: −$16,301
• − Property taxes: −$4,365
• − Insurance: −$1,455
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$8,465
• Taxable loss: −$10,222
• Est. tax savings @ 24.0%: +$2,453
• After-tax cash flow: $-2,527/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