3609 35th St SW · Lehigh Acres, FL 33976

$359,900

3 bd · 2.0 ba · 1,522 sqft · Land · 127 Days on market

Built 2026 0.25 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 +5.0/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0

Listing remarks MLS

South exposure lot priced to sell!

Key facts

• Quartz countertops
• Versatile den
• New construction

Tags

• NEW CONSTRUCTION
• WHITE TILE FLOORING
• MODERN WHITE KITCHEN
• QUARTZ COUNTERTOPS
• CUSTOM MADE CLOSETS
• VERSATILE DEN

Property features AI

Finance

• Other: Lot dimensions approximately 80 x 137 x 80 x 137; Zoning: RS-1
• Financial info: Pets allowed
• HOA & community: No association fee; Non-gated community

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking; Garage with door opener; 2 covered spaces
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Cable available; High-speed internet available
• Home design: Single-story home; New construction; Entry level: 1; North-facing
• Construction: Block, concrete and stucco construction; Shingle roof; Built as new construction
• Exterior features: Security / high-impact doors; Smoke detector(s); Rectangular lot; Public maintained road; South exposure

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Den (additional room type)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Breakfast bar; Closet cabinetry; Entrance foyer; French doors / atrium door; Living / dining room; Pantry; Shower only; Separate shower; Walk-in closets; Split bedroom layout; Double-hung windows; Impact glass windows; Unfurnished
• Laundry & utility: Washer hookup; Dryer hookup; Laundry tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $360k.

Deal economics

• At list price, monthly cash flow is $-851 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (34.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (42.5% below list).
• Recommended offer: $207k (42.5% 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+, 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 34% 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 $38k of equity ($2k loan paydown + $36k 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 ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($317k) 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 $31k; list at $360k implies a 1061% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $207,054 (42.5% 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 127 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: 3.45%
• Cash-on-cash: -10.14%
• 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: $135,744
• Equity at exit: $324,226

10-year hold

• IRR: 15.3%
• Equity multiple: 5.28×
• Total profit: $431,588
• Equity at exit: $699,207

Cash invested: $100,772 (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: 14.5×

Monthly cashflow live

• Estimated rent: $2,071 high
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-851

Break-even live

Break-even rent $3,148

Max offer price $236,692

Occupancy floor —

Sensitivity live

Price	-10% $-603	-5% $-727	+0% $-851	+5% $-976	+10% $-1,100
Rent	-10% $-1,015	-5% $-933	+0% $-851	+5% $-770	+10% $-688
Rate	-1.0pp $-670	-0.5pp $-760	base $-851	+0.5pp $-945	+1.0pp $-1,040

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3419 36th St Lehigh Acres, FL	4.0	2.0	1920	$1,850	$0.96	25d	1	0.23mi
3802 35th St SW Lehigh Acres, FL	3.0	2.0	1269	$1,640	$1.29	25d	1	0.25mi
3801 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.26mi
3803 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.27mi
3805 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.29mi
3807 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.30mi
3809 33rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.32mi
2904 Wanda Ave S Lehigh Acres, FL	3.0	2.0	1501	$1,900	$1.27	25d	1	0.35mi
3604 29th St SW Lehigh Acres, FL	3.0	2.5	1776	$2,500	$1.41	25d	1	0.37mi
3316 35th St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.40mi
3314 35th St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.41mi
3312 35th St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	25d	1	0.43mi
3313 36th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,300	$1.33	25d	1	0.43mi
2504 Vera Ave S Lehigh Acres, FL	3.0	3.0	1643	$2,400	$1.46	25d	1	0.54mi
3418 26th St SW Lehigh Acres, FL	4.0	3.0	2030	$2,300	$1.13	18d	1	0.59mi
4020 36th St SW Lehigh Acres, FL	3.0	2.0	1354	$2,050	$1.51	25d	1	0.73mi
4101 33rd St SW Lehigh Acres, FL	3.0	2.0	1698	$2,200	$1.30	16d	1	0.76mi
3201 29th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,950	$1.06	5d	1	0.77mi
4021 28th St SW Lehigh Acres, FL	3.0	2.0	1529	$1,800	$1.18	25d	1	0.78mi
3201 28th St Lehigh Acres, FL	4.0	2.0	1389	$2,000	$1.44	5d	1	0.79mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	18d	1	0.81mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	5d	1	0.81mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	4d	1	0.88mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	5d	1	0.88mi
3102 39th St SW Lehigh Acres, FL	3.0	2.0	1097	$1,630	$1.49	23d	1	0.90mi
3203 24th St SW Lehigh Acres, FL	3.0	2.0	1498	$2,300	$1.54	23d	1	0.93mi
4001 22nd St SW Lehigh Acres, FL	3.0	2.0	1055	$1,950	$1.85	4d	1	0.95mi
3201 23rd St SW Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	23d	1	0.98mi
3600 19th St SW Lehigh Acres, FL	3.0	2.0	1114	$1,746	$1.57	5d	1	0.98mi
3012 40th St SW Lehigh Acres, FL	3.0	2.0	1427	$1,950	$1.37	25d	1	1.05mi
3209 21st St SW Lehigh Acres, FL	3.0	2.0	1418	$1,699	$1.20	4d	1	1.10mi
3714 17th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,890	$1.03	25d	1	1.12mi
4203 23rd St SW Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	21d	1	1.15mi
3202 21st St SW Lehigh Acres, FL	3.0	2.0	1100	$1,920	$1.75	4d	1	1.15mi
1511 Terry Ave S Lehigh Acres, FL	3.0	2.0	1579	$1,996	$1.26	25d	1	1.19mi
3001 37th St SW Lehigh Acres, FL	3.0	2.5	1235	$1,705	$1.38	25d	1	1.20mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,930	$1.38	3d	1	1.21mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,960	$1.40	5d	1	1.21mi
3008 25th St SW Lehigh Acres, FL	4.0	2.0	1565	$1,711	$1.09	23d	1	1.21mi
4702 Loraine Ave S Lehigh Acres, FL	3.0	2.0	1354	$2,000	$1.48	16d	1	1.26mi

Listing history 24 events

1. 2026-06-22
   days on market $359,900 Active 127 DOM
2. 2026-06-17
   days on market $359,900 Active 123 DOM
3. 2026-06-16
   days on market $359,900 Active 122 DOM
4. 2026-06-15
   days on market $359,900 Active 121 DOM
5. 2026-06-13
   days on market $359,900 Active 119 DOM
6. 2026-06-10
   days on market $359,900 Active 116 DOM
7. 2026-06-09
   days on market $359,900 Active 115 DOM
8. 2026-06-07
   days on market $359,900 Active 113 DOM
9. 2026-06-02
   days on market $359,900 Active 108 DOM
10. 2026-06-01
    days on market $359,900 Active 107 DOM
11. 2026-06-01
    days on market $359,900 Active 106 DOM
12. 2026-05-04
    price $359,900
13. 2026-03-27
    price $365,900
14. 2026-02-13
    listed $369,900 Active
15. 2025-03-20
    soldstatus $31,000
16. 2025-03-05
    soldstatus $31,000 Sold 34-char remark

    Show marketing remark (34 chars)

    South exposure lot priced to sell!

17. 2025-02-12
    status Pending With Contingencies 34-char remark

    Show marketing remark (34 chars)

    South exposure lot priced to sell!

18. 2025-01-16
    price $30,000 34-char remark

    Show marketing remark (34 chars)

    South exposure lot priced to sell!

19. 2025-01-16
    status Active 34-char remark

    Show marketing remark (34 chars)

    South exposure lot priced to sell!

20. 2024-09-25
    listed $27,500 Active 34-char remark

    Show marketing remark (34 chars)

    South exposure lot priced to sell!

21. 2006-11-28
    soldstatus $26,000
22. 2005-06-21
    soldstatus $29,500
23. 2005-06-09
    soldstatus $44,000 115-char remark

    Show marketing remark (115 chars)

    Great Location To Build That Dream Home. Easy Access To Ft. Myers The Airport And Shopping. Hurry Before It's Gone.

24. 1987-11-01
    soldstatus $2,400

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,846
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$1,800
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − Depreciation: −$10,470
• Taxable loss: −$16,957
• Est. tax savings @ 24.0%: +$4,070
• After-tax cash flow: $-6,148/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

Price history

+14895.8% since first listed

13 events — show timeline

• 2026-05-04 Price Changed $359,900 FORTMLS
• 2026-03-27 Price Changed $365,900 FORTMLS
• 2026-02-13 Listed $369,900 FORTMLS
• 2025-03-20 Sold (Public Records) $31,000 Public Records
• 2025-03-05 Sold (MLS) $31,000 BEARMLS
• 2025-02-12 Pending — BEARMLS
• 2025-01-16 Price Changed $30,000 BEARMLS
• 2025-01-16 Relisted — BEARMLS
• 2024-09-25 Listed $27,500 BEARMLS
• 2006-11-28 Sold (Public Records) $26,000 Public Records
• 2005-06-21 Sold (Public Records) $29,500 Public Records
• 2005-06-09 Sold (MLS) $44,000 FORTMLS
• 1987-11-01 Sold (Public Records) $2,400 Public Records

Property tax history

+17.6%/yr

Latest (2025): $433 · +10.7% YoY. Source: county tax records.