505 W 10 St · Lehigh Acres, FL 33972

$285,000

3 bd · 2.0 ba · 1,492 sqft · Land · 120 Days on market

Built 2025

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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).

• Cash flow +11.5/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• DSCR +3.4/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

Key facts

• New construction
• Open-concept layout
• Garage

Tags

• NEW CONSTRUCTION
• OPEN-CONCEPT LAYOUT
• PREMIUM QUARTZ COUNTERTOPS
• HIGH-END LG APPLIANCES
• CERAMIC TILE FLOORING
• BRAND NEW WASHER AND DRYER

Property features AI

Exterior

• Parking: Driveway; 1 covered parking space; 1-car garage
• Security: High-impact doors
• Utilities: Well water; Septic tank
• Home design: Single-story; New construction
• Construction: Block construction; Shingle roof
• Exterior features: Security / high-impact doors; Room for a pool; Quarter- to half-acre lot; Residential zoning; East-facing

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level
• Laundry & utility: Washer; Dryer; Utility room; Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $285k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (29.7% below list).
• Recommended offer: $200k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.7% in Lehigh Acres — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 rising fast (+5.3%/yr); 1611 active listings in the ZIP; 22 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 33% 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 $9k 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 120 days — a 9% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $15k; list at $285k implies a 1800% gain — meaningful room to come down on a strong offer.

Recommended offer $200,351 (29.7% 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 120 days. Have you received any prior offers? Is the seller open to a 30% 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: 0.70% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.40×
• Total profit: $-47,516
• Equity at exit: $42,494

10-year hold

• IRR: -5.1%
• Equity multiple: 0.64×
• Total profit: $-29,011
• Equity at exit: $24,642

Cash invested: $79,800 (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: 1611
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$63 /mo · $762/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-94

Break-even live

Break-even rent $2,123

Max offer price $268,386

Occupancy floor 100%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
603 W 9th St Lehigh Acres, FL	3.0	2.0	1715	$2,300	$1.34	23d	1	0.23mi
915 Plumosa Ave Lehigh Acres, FL	4.0	2.0	1744	$1,901	$1.09	23d	1	0.32mi
802 W 11th St Lehigh Acres, FL	3.0	2.0	1283	$1,725	$1.34	3d	1	0.38mi
1103 W 10th St Lehigh Acres, FL	3.0	2.0	1600	$2,000	$1.25	3d	1	0.50mi
14 W 11th St Lehigh Acres, FL	3.0	2.0	1211	$2,000	$1.65	23d	1	0.55mi
714 W 12th St Lehigh Acres, FL	3.0	2.0	1121	$1,600	$1.43	14d	1	0.59mi
1000 W 12th St #1002 Lehigh Acres, FL	2.0	2.0	964	$1,225	$1.27	21d	1	0.67mi
1006 W 12th St Unit B Lehigh Acres, FL	3.0	2.0	1400	$1,800	$1.29	23d	1	0.69mi
1113-1115 W 12th St Lehigh Acres, FL	3.0	2.0	1600	$1,800	$1.12	23d	1	0.75mi
8071 Liriope Loop Lehigh Acres, FL	3.0	2.0	1757	$1,900	$1.08	23d	1	0.76mi
1407 W 10th St Lehigh Acres, FL	3.0	2.0	1407	$1,700	$1.21	23d	1	0.81mi
301 E 12th St Lehigh Acres, FL	3.0	2.0	1305	$1,700	$1.30	23d	1	0.95mi
1418 W 12th St Lehigh Acres, FL	2.0	2.0	1113	$1,295	$1.16	21d	1	0.99mi
414 E 12th St Lehigh Acres, FL	3.0	2.0	1225	$1,500	$1.22	23d	1	1.07mi
1711 W 12th St Lehigh Acres, FL	3.0	2.0	1400	$1,999	$1.43	19d	1	1.18mi
1711 W 12th St Lehigh Acres, FL	3.0	2.0	1400	$1,999	$1.43	19d	1	1.18mi
808 Greenwood Ave Lehigh Acres, FL	3.0	2.0	1419	$1,800	$1.27	23d	1	1.19mi
503 E 13th St Lehigh Acres, FL	3.0	2.0	1248	$2,300	$1.84	23d	1	1.29mi
8187 Gopher Tortoise Trl Lehigh Acres, FL	3.0	2.0	1555	$2,000	$1.29	23d	1	1.39mi
1004 E 10th St Lehigh Acres, FL	3.0	2.0	1406	$2,100	$1.49	10d	1	1.43mi
8046 Gopher Tortoise Trl Lehigh Acres, FL	4.0	2.0	1828	$2,300	$1.26	23d	1	1.46mi
8350 Tortoise Isle Ct Lehigh Acres, FL	3.0	2.0	1478	$1,595	$1.08	3d	1	1.50mi

Listing history 23 events

1. 2026-06-17
   days on market $285,000 Active 120 DOM
2. 2026-06-16
   days on market $285,000 Active 119 DOM
3. 2026-06-15
   days on market $285,000 Active 118 DOM
4. 2026-06-13
   days on market $285,000 Active 116 DOM
5. 2026-06-10
   days on market $285,000 Active 113 DOM
6. 2026-06-09
   days on market $285,000 Active 112 DOM
7. 2026-06-07
   days on market $285,000 Active 110 DOM
8. 2026-06-02
   days on market $285,000 Active 105 DOM
9. 2026-06-01
   days on market $285,000 Active 104 DOM
10. 2026-06-01
    days on market $285,000 Active 103 DOM
11. 2026-02-17
    listed $285,000 Active
12. 2026-01-26
    historical
13. 2025-06-24
    listed $299,000 Active
14. 2023-09-18
    soldstatus $15,000 Closed 126-char remark

    Show marketing remark (126 chars)

    Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

15. 2023-09-15
    soldstatus $15,000
16. 2023-08-15
    status Pending 126-char remark

    Show marketing remark (126 chars)

    Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

17. 2023-07-26
    status Active 126-char remark

    Show marketing remark (126 chars)

    Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

18. 2023-07-26
    price $16,250 126-char remark

    Show marketing remark (126 chars)

    Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

19. 2023-05-31
    status Pending 126-char remark

    Show marketing remark (126 chars)

    Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

20. 2023-05-16
    listed $14,950 Active 126-char remark

    Show marketing remark (126 chars)

    Many new homes being built in this area. The same seller has many others home sites available and will discount for bulk sale.

21. 2005-05-13
    soldstatus $1,468,100
22. 2005-01-05
    soldstatus $495,000
23. 2004-09-08
    soldstatus $10,000

ⓘ 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: $762 · $63/mo
• Projected year-2 tax: $2,366 · $197/mo
• Expected delta: +$1,604/yr (+$134/mo · 210.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,042
• − Mortgage interest: −$15,964
• − Property taxes: −$762
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,923
• − Management: −$1,923
• − Depreciation: −$8,291
• Taxable loss: −$6,247
• Est. tax savings @ 24.0%: +$1,499
• After-tax cash flow: $371/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

+2750.0% since first listed

13 events — show timeline

• 2026-02-17 Listed $285,000 MARMLS
• 2026-01-26 Listing Removed — MARMLS
• 2025-06-24 Listed $299,000 MARMLS
• 2023-09-18 Sold (MLS) $15,000 FORTMLS
• 2023-09-15 Sold (Public Records) $15,000 Public Records
• 2023-08-15 Pending — FORTMLS
• 2023-07-26 Relisted — FORTMLS
• 2023-07-26 Price Changed $16,250 FORTMLS
• 2023-05-31 Pending — FORTMLS
• 2023-05-16 Listed $14,950 FORTMLS
• 2005-05-13 Sold (Public Records) $1,468,100 Public Records
• 2005-01-05 Sold (Public Records) $495,000 Public Records
• 2004-09-08 Sold (Public Records) $10,000 Public Records

Property tax history

+25.6%/yr

Latest (2025): $762 · +111.5% YoY. Source: county tax records.