321 Peerless St · Lehigh Acres, FL 33974

$349,000

3 bd · 2.5 ba · 1,782 sqft · Land · 31 Days on market

Built 2026 0.28 ac 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 +5.5/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Great opportunity to buy now and build later, no rear neighbor.

Key facts

• Stem wall-built home
• Outdoor kitchen
• 0.28 acre lot

Tags

• ACRYLIC ITALIAN KITCHEN
• WATERFALL QUARTZ COUNTERTOPS
• FRENCH MODERN GLASS DOORS
• STEM WALL-BUILT HOME
• PRISTINE PORCELAIN TILES
• OUTDOOR KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $349k.

Deal economics

• At list price, monthly cash flow is $-816 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (33.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (39.7% below list).
• Recommended offer: $210k (39.7% below list) — sets the bar for 1% rule.
• Cap rate 3.7% 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 24d 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 35% 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 + $35k 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 ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $23k; list at $349k implies a 1417% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $210,392 (39.7% 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 31 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.60% ✗
• Cap rate: 3.71%
• Cash-on-cash: -9.21%
• DSCR: 0.59
• GRM: 13.8

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: 16.6%
• Equity multiple: 2.35×
• Total profit: $131,996
• Equity at exit: $314,407

10-year hold

• IRR: 15.3%
• Equity multiple: 5.28×
• Total profit: $418,692
• Equity at exit: $678,030

Cash invested: $97,720 (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: 13.8×

Monthly cashflow live

• Estimated rent: $2,104 high
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-816

Break-even live

Break-even rent $3,137

Max offer price $230,893

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Pembroke St Lehigh Acres, FL	3.0	2.0	1545	$2,100	$1.36	23d	1	0.23mi
227 Pennfield St Lehigh Acres, FL	4.0	2.0	1732	$2,275	$1.31	23d	1	0.31mi
418 Pickford Ave Lehigh Acres, FL	4.0	2.0	1937	$2,450	$1.26	23d	1	0.33mi
633 Alabama Rd S Lehigh Acres, FL	3.0	2.0	2422	$1,500	$0.62	23d	1	0.33mi
234 Pullman St Lehigh Acres, FL	3.0	2.0	1392	$1,800	$1.29	23d	1	0.37mi
212 Pullman St Lehigh Acres, FL	3.0	2.0	2396	$1,800	$0.75	23d	1	0.42mi
531 Alabama Rd S Lehigh Acres, FL	2.0	2.0	2612	$1,750	$0.67	23d	1	0.42mi
304 Preston St Lehigh Acres, FL	3.0	2.0	1590	$2,150	$1.35	3d	1	0.44mi
304 Preston St Unit 304 Lehigh Acres, FL	3.0	2.0	1519	$2,350	$1.55	23d	1	0.45mi
333 Pinehurst Ave Lehigh Acres, FL	3.0	2.0	1545	$2,100	$1.36	23d	1	0.48mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	2.0	2.0	1244	$1,595	$1.28	1d	1	0.49mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1244	$1,650	$1.33	21d	1	0.49mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	2.0	2.0	1244	$1,595	$1.28	1d	1	0.49mi
177 Pennfield St Lehigh Acres, FL	3.0	2.0	1250	$1,850	$1.48	23d	1	0.53mi
19542 Fairhill Ct Lehigh Acres, FL	3.0	2.0	1429	$1,700	$1.19	23d	1	0.54mi
749 Alabama Rd S Unit 749 Lehigh Acres, FL	3.0	2.0	1275	$1,800	$1.41	1d	1	0.58mi
437 Reading St Lehigh Acres, FL	4.0	2.0	1833	$1,795	$0.98	1d	1	0.60mi
438 Poplar St Lehigh Acres, FL	3.0	2.0	1640	$2,150	$1.31	3d	1	0.62mi
423 Canyon Dr S Lehigh Acres, FL	3.0	2.0	1830	$1,550	$0.85	23d	1	0.62mi
325 Paulcrest Ave Lehigh Acres, FL	4.0	2.0	1619	$2,300	$1.42	23d	1	0.64mi
10353 Canal Brook Ln Lehigh Acres, FL	3.0	2.0	1541	$2,049	$1.33	23d	1	0.71mi
10329 Canal Brook Ln Lehigh Acres, FL	4.0	2.5	2462	$2,600	$1.06	23d	1	0.74mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,000	$1.42	3d	1	0.77mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,100	$1.49	23d	1	0.77mi
11918 Savanna Lakes Blvd Lehigh Acres, FL	3.0	2.0	1484	$2,000	$1.35	23d	1	0.78mi
334 Ranch Ave Lehigh Acres, FL	3.0	2.0	1645	$2,150	$1.31	3d	1	0.83mi
10531 Canal Brook Ln Lehigh Acres, FL	4.0	2.0	1828	$2,300	$1.26	15d	1	0.84mi
19480 Poppytree Ct Lehigh Acres, FL	3.0	2.0	1334	$1,750	$1.31	23d	1	0.90mi
337 Rancho Ave Lehigh Acres, FL	3.0	2.0	1723	$2,150	$1.25	23d	1	0.91mi
467 Raymer St Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	10d	1	0.92mi
351 Ranchito Ave Lehigh Acres, FL	3.0	2.5	1500	$2,000	$1.33	23d	1	0.95mi
19933 Lake Vista Cir Lehigh Acres, FL	3.0	2.0	1776	$1,750	$0.99	19d	1	0.96mi
10507 Crossback Ln Lehigh Acres, FL	3.0	2.0	1672	$1,800	$1.08	23d	1	0.96mi
19949 Lake Vista Cir N #1 Lehigh Acres, FL	3.0	2.0	1442	$1,800	$1.25	23d	1	0.96mi
19949 Lake Vista Cir Unit 16C Lehigh Acres, FL	3.0	2.0	1517	$1,600	$1.05	23d	1	0.97mi
397 Pennfield Ave Lehigh Acres, FL	4.0	2.0	1780	$2,100	$1.18	23d	1	0.99mi
19750 Garden Ridge Ct Lehigh Acres, FL	4.0	2.5	1400	$2,200	$1.57	23d	1	0.99mi
472 Rajah St Lehigh Acres, FL	3.0	2.0	1715	$2,200	$1.28	3d	1	0.99mi
477 Rayford St Lehigh Acres, FL	4.0	3.0	1715	$2,000	$1.17	23d	1	1.01mi
9099 Leatherwood Loop Lehigh Acres, FL	2.0	2.0	1564	$2,400	$1.53	23d	1	1.01mi

Listing history 14 events

1. 2026-04-19
   status Pending
2. 2026-04-13
   price $349,000
3. 2026-03-18
   listed $355,000 Active
4. 2026-03-16
   historical
5. 2026-02-20
   price $360,000
6. 2026-02-11
   price $365,000
7. 2026-02-02
   price $369,000
8. 2026-01-14
   price $374,900
9. 2025-12-19
   listed $385,000 Active
10. 2024-10-08
    soldstatus $23,000 Closed 63-char remark

    Show marketing remark (63 chars)

    Great opportunity to buy now and build later, no rear neighbor.

11. 2024-10-07
    soldstatus $23,000
12. 2024-10-04
    status Pending 63-char remark

    Show marketing remark (63 chars)

    Great opportunity to buy now and build later, no rear neighbor.

13. 2024-09-03
    price $25,000 63-char remark

    Show marketing remark (63 chars)

    Great opportunity to buy now and build later, no rear neighbor.

14. 2024-08-28
    listed $27,000 Active 63-char remark

    Show marketing remark (63 chars)

    Great opportunity to buy now and build later, no rear neighbor.

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $25,247
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$2,542
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − Depreciation: −$10,153
• Taxable loss: −$16,272
• Est. tax savings @ 24.0%: +$3,905
• After-tax cash flow: $-5,889/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

+1192.6% since first listed

14 events — show timeline

• 2026-04-19 Pending — FORTMLS
• 2026-04-13 Price Changed $349,000 FORTMLS
• 2026-03-18 Listed $355,000 FORTMLS
• 2026-03-16 Listing Removed — FORTMLS
• 2026-02-20 Price Changed $360,000 FORTMLS
• 2026-02-11 Price Changed $365,000 FORTMLS
• 2026-02-02 Price Changed $369,000 FORTMLS
• 2026-01-14 Price Changed $374,900 FORTMLS
• 2025-12-19 Listed $385,000 FORTMLS
• 2024-10-08 Sold (MLS) $23,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-07 Sold (Public Records) $23,000 Public Records
• 2024-10-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-09-03 Price Changed $25,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-28 Listed $27,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+19.9%/yr

Latest (2025): $522 · +28.5% YoY. Source: county tax records.