1505 E 15th St · Lehigh Acres, FL 33972

$224,900

3 bd · 2.0 ba · 1,380 sqft · SingleFamily public records · 164 Days on market

Built 2008 10,885 sqft lot Est $310k · 28% under ↓ 9% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Schools +4.1/10.0
• DSCR +3.8/10.0
• Rent growth +3.8/5.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully newly renovated 3-bedroom, 2-bath home offering 1,392 sq ft of comfortable living space. This property has been thoughtfully updated to provide both style and peace of mind, featuring a brand-new roof, new A/C system, and a new water system. The interior offers a functional layout with spacious living areas, updated finishes, and abundant natural light throughout. The kitchen and bathrooms have been refreshed to enhance everyday living, while the renovations make this home truly move-in ready. Ideal for homeowners or investors alike, this property offers major system upgrades already completed, reducing future maintenance costs. Conveniently located near shopping

Key facts

• New water system
• New a/c system
• Updated finishes

Tags

• BRAND NEW ROOF
• NEW A/C SYSTEM
• NEW WATER SYSTEM
• SPACIOUS LIVING AREAS
• UPDATED FINISHES
• ABUNDANT NATURAL LIGHT

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Utilities: Well water; Septic tank; Cable not available
• Home design: Single-story property; Resale home; Faces south
• Construction: Vinyl siding; Wood frame construction; Shingle roof
• Exterior features: Open patio; Front porch; Rectangular lot; North exposures

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Split bedrooms layout
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Double-hung windows; Dual sinks; Living/dining room; Split bedroom floor plan; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-26 ($-311/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (16.6% below list).
• Recommended offer: $188k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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+, 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 rising fast (+5.3%/yr); 1620 active listings in the ZIP; 15 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 31% of the median local income ($74k/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 $2k of loan paydown is wiped out by about $7k 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 164 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $187,677 (16.6% 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. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 17% 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: 0.83% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $310,500
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1403 E 13th St	0.51mi	3/2.0	1,380 (0%)	16mo	$236,000	$171	63
1220 Washington Ave	0.58mi	3/2.0	1,536 (+11%)	2mo	$345,000	$225	53

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

Projected returns pro-forma

-3.0% appreciation · 5.33% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.47×
• Total profit: $-33,594
• Equity at exit: $33,533

10-year hold

• IRR: -2.6%
• Equity multiple: 0.81×
• Total profit: $-12,003
• Equity at exit: $19,445

Cash invested: $62,972 (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 33972

• Home prices YoY: -13.6%
• Rents YoY: 5.3%
• Active inventory: 1620
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$235 /mo · $2,826/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-26

Break-even live

Break-even rent $1,910

Max offer price $220,316

Occupancy floor 96%

Sensitivity live

Price	-10% $101	-5% $38	+0% $-26	+5% $-90	+10% $-153
Rent	-10% $-174	-5% $-100	+0% $-26	+5% $48	+10% $122
Rate	-1.0pp $87	-0.5pp $31	base $-26	+0.5pp $-84	+1.0pp $-144

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 E 13th St Lehigh Acres, FL	3.0	2.0	1407	$1,795	$1.28	5d	1	0.80mi
1221 E 12th St Lehigh Acres, FL	3.0	2.0	1217	$1,550	$1.27	25d	1	0.84mi
1943 E 12th St Lehigh Acres, FL	3.0	2.0	1600	$1,850	$1.16	25d	1	0.88mi
503 E 13th St Lehigh Acres, FL	3.0	2.0	1248	$2,300	$1.84	25d	1	1.04mi
2701 E 18th St Lehigh Acres, FL	4.0	2.0	1577	$2,000	$1.27	25d	1	1.22mi
414 E 12th St Lehigh Acres, FL	3.0	2.0	1225	$1,500	$1.22	25d	1	1.25mi
1224 Hamilton Ave Lehigh Acres, FL	3.0	2.0	1347	$1,595	$1.18	18d	1	1.34mi
301 E 12th St Lehigh Acres, FL	3.0	2.0	1305	$1,700	$1.30	25d	1	1.37mi
1917 Lorna Ave Lehigh Acres, FL	2.0	2.0	1042	$1,675	$1.61	25d	1	1.39mi
1004 E 10th St Lehigh Acres, FL	3.0	2.0	1406	$2,100	$1.49	12d	1	1.39mi
1924 Marlay Ave Lehigh Acres, FL	3.0	2.0	1310	$1,700	$1.30	25d	1	1.42mi
1920 Latona St Lehigh Acres, FL	2.0	2.0	1132	$1,325	$1.17	25d	1	1.43mi
225 Rogers St Lehigh Acres, FL	2.0	2.0	1138	$1,400	$1.23	12d	1	1.47mi
353 Reeves St Lehigh Acres, FL	2.0	2.0	1132	$1,299	$1.15	25d	1	1.47mi
134 Viewpoint Dr Lehigh Acres, FL	2.0	2.0	1042	$1,650	$1.58	5d	1	1.48mi

Listing history 15 events

1. 2026-06-22
   days on market $224,900 Active 164 DOM
2. 2026-06-17
   days on market $224,900 Active 160 DOM
3. 2026-06-16
   days on market $224,900 Active 159 DOM
4. 2026-06-15
   days on market $224,900 Active 158 DOM
5. 2026-06-13
   days on market $224,900 Active 156 DOM
6. 2026-06-10
   days on market $224,900 Active 153 DOM
7. 2026-06-09
   days on market $224,900 Active 152 DOM
8. 2026-06-07
   pricedays on market $224,900 Active 150 DOM
9. 2026-06-02
   days on market $227,900 Active 145 DOM
10. 2026-06-01
    days on market $227,900 Active 144 DOM
11. 2026-06-01
    days on market $227,900 Active 143 DOM
12. 2026-04-08
    price $227,900
13. 2026-02-24
    price $234,900
14. 2026-02-09
    price $239,900
15. 2026-01-08
    listed $249,900 Active

ⓘ 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: $2,826 · $235/mo
• Projected year-2 tax: $2,826 · $235/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 4/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,521
• − Mortgage interest: −$12,598
• − Property taxes: −$2,826
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$6,543
• Taxable loss: −$4,173
• Est. tax savings @ 24.0%: +$1,002
• After-tax cash flow: $690/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): 17,285
• Household income: $73,819
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 190.0

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: White 44% Hispanic / Latino 38% Two or more races 21% Black 13%
• Hispanic origin (detail): Mexican 8% Puerto Rican 7% Cuban 18%
• Common ancestry: Hispanic 6% Italian 2% Romanian 2%
• Foreign-born: 27% · Canada, Guatemala
• Languages at home: 61% English-only · Spanish 32% French/Haitian/Cajun 4% 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: ▼ -53.97%
• Current HPI: 343.484
• Rent YoY: ▲ 5.33%
• 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

-8.8% since first listed

4 events — show timeline

• 2026-04-08 Price Changed $227,900 FORTMLS
• 2026-02-24 Price Changed $234,900 FORTMLS
• 2026-02-09 Price Changed $239,900 FORTMLS
• 2026-01-08 Listed $249,900 FORTMLS

Property tax history

+8.0%/yr

Latest (2025): $2,826 · -1.7% YoY. Source: county tax records.