940 Berg St E · Lehigh Acres, FL 33974

$249,900

3 bd · 2.0 ba · 1,058 sqft · Land · 28 Days on market

Built 2026 0.26 ac lot

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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 +7.9/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Rent growth +1.3/5.0

Listing remarks MLS

Beautiful lot in a great location, plenty of room to grow and build your new home. No flood insurance required.

Key facts

• Modern design
• Quarter-acre lot
• 0.26 acre lot

Tags

• STAINLESS STEEL APPLIANCES
• MODERN DESIGN
• QUARTER-ACRE LOT
• EASY ACCESS TO FORT MYERS

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee listed

Exterior

• Parking: Paved driveway with two parking spaces
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story home; New construction; North-facing entry
• Construction: Block, concrete, and stucco construction; Shingle roof; Built on standard foundation
• Exterior features: Security/high-impact doors; Rectangular lot; South exposure

Interior

• Kitchen: Dishwasher; Electric cooktop; Microwave; Refrigerator; Eat-in kitchen layout
• Bedrooms: Bedrooms on single-level (1 story home)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Built-in features; Eat-in kitchen; Family/dining room; Living/dining room; Shower-only bathroom with separate shower; Walk-in closet(s); Window treatments; Impact glass windows; Window coverings; Split bedrooms
• Laundry & utility: Washer hookup inside; Dryer hookup inside; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $250k.

Deal economics

• At list price, monthly cash flow is $-265 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (26.0% below list).
• Recommended offer: $185k (26.0% 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+, 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; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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 ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 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 $20k; list at $250k implies a 1150% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,023 (26.0% 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: 0.74% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.55%
• DSCR: 0.80
• GRM: 11.3

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: 20.2%
• Equity multiple: 2.63×
• Total profit: $113,809
• Equity at exit: $225,130

10-year hold

• IRR: 17.9%
• Equity multiple: 5.84×
• Total profit: $338,785
• Equity at exit: $485,501

Cash invested: $69,972 (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 33974

• Home prices YoY: 5.8%
• Rents YoY: -4.7%
• Active inventory: 2460
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-265

Break-even live

Break-even rent $2,186

Max offer price $211,508

Occupancy floor —

Sensitivity live

Price	-10% $-93	-5% $-179	+0% $-265	+5% $-352	+10% $-438
Rent	-10% $-411	-5% $-338	+0% $-265	+5% $-192	+10% $-119
Rate	-1.0pp $-139	-0.5pp $-202	base $-265	+0.5pp $-330	+1.0pp $-396

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
382 McArthur Blvd Lehigh Acres, FL	3.0	2.0	1055	$2,200	$2.09	24d	1	0.71mi
333 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1114	$1,300	$1.17	3d	1	0.83mi
444 Genoa Ave S Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	22d	1	0.83mi
350 Limerick Ave S Lehigh Acres, FL	3.0	2.0	1199	$1,800	$1.50	3d	1	0.84mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	3d	1	0.89mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	15d	1	0.89mi
1125 Chipley St Unit 1 Lehigh Acres, FL	2.0	1.0	950	$1,350	$1.42	3d	1	0.93mi
388 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,780	$1.48	24d	1	0.96mi
759 Cane St E Lehigh Acres, FL	3.0	2.0	1169	$1,950	$1.67	3d	1	0.99mi
455 Bell Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1142	$1,600	$1.40	24d	1	1.09mi
970 Lakeside Dr Lehigh Acres, FL	3.0	2.0	1325	$1,800	$1.36	20d	1	1.13mi
442 Genoa Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	3d	1	1.14mi
718 Sunrise Blvd Lehigh Acres, FL	3.0	2.0	1100	$1,610	$1.46	24d	1	1.16mi
940 Sterling St E Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	3d	1	1.18mi
1150 Rahway St Lehigh Acres, FL	2.0	2.0	833	$1,450	$1.74	3d	1	1.21mi
508 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	24d	1	1.29mi
713 Cardinal St E Lehigh Acres, FL	3.0	2.0	1100	$1,635	$1.49	3d	1	1.36mi
538 Flamingo Ave S Lehigh Acres, FL	3.0	2.0	1272	$1,791	$1.41	3d	1	1.44mi
538 Cypress Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	3d	1	1.50mi

Listing history 24 events

1. 2026-06-17
   days on market $249,900 Active 28 DOM
2. 2026-06-16
   days on market $249,900 Active 27 DOM
3. 2026-06-15
   days on market $249,900 Active 26 DOM
4. 2026-06-13
   days on market $249,900 Active 24 DOM
5. 2026-06-10
   days on market $249,900 Active 21 DOM
6. 2026-06-09
   days on market $249,900 Active 20 DOM
7. 2026-06-08
   days on market $249,900 Active 19 DOM
8. 2026-06-07
   days on market $249,900 Active 18 DOM
9. 2026-06-03
   days on market $249,900 Active 14 DOM
10. 2026-06-02
    days on market $249,900 Active 13 DOM
11. 2026-06-01
    days on market $249,900 Active 12 DOM
12. 2026-05-31
    days on market $249,900 Active 11 DOM
13. 2026-05-20
    listed $249,900 Active
14. 2024-12-10
    soldstatus $20,000
15. 2024-12-04
    soldstatus $20,000 Sold 111-char remark

    Show marketing remark (111 chars)

    Beautiful lot in a great location, plenty of room to grow and build your new home. No flood insurance required.

16. 2024-11-18
    status Pending With Contingencies 111-char remark

    Show marketing remark (111 chars)

    Beautiful lot in a great location, plenty of room to grow and build your new home. No flood insurance required.

17. 2024-11-01
    listed $20,000 Active 111-char remark

    Show marketing remark (111 chars)

    Beautiful lot in a great location, plenty of room to grow and build your new home. No flood insurance required.

18. 2021-12-20
    soldstatus $170,000
19. 2009-08-21
    soldstatus $4,191,000
20. 2005-08-08
    soldstatus $139,410,000
21. 2005-06-16
    soldstatus $43,900
22. 2005-04-14
    soldstatus $690,000
23. 2005-04-14
    soldstatus $795,000
24. 2004-12-28
    soldstatus $7,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 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: $22,203
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$7,270
• Taxable loss: −$7,616
• Est. tax savings @ 24.0%: +$1,828
• After-tax cash flow: $-1,356/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

+3470.0% since first listed

12 events — show timeline

• 2026-05-20 Listed $249,900 FORTMLS
• 2024-12-10 Sold (Public Records) $20,000 Public Records
• 2024-12-04 Sold (MLS) $20,000 NAPLESMLS
• 2024-11-18 Pending — NAPLESMLS
• 2024-11-01 Listed $20,000 NAPLESMLS
• 2021-12-20 Sold (Public Records) $170,000 Public Records
• 2009-08-21 Sold (Public Records) $4,191,000 Public Records
• 2005-08-08 Sold (Public Records) $139,410,000 Public Records
• 2005-06-16 Sold (Public Records) $43,900 Public Records
• 2005-04-14 Sold (Public Records) $795,000 Public Records
• 2005-04-14 Sold (Public Records) $690,000 Public Records
• 2004-12-28 Sold (Public Records) $7,000 Public Records

Property tax history

+15.3%/yr

Latest (2025): $447 · +19.8% YoY. Source: county tax records.