548 Long Island St E · Lehigh Acres, FL 33974

$394,900

4 bd · 2.0 ba · 1,810 sqft · Land · 46 Days on market

Built 2026 10,162 sqft 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 +5.3/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Great buildable lot just one block east of Homestead Road which provides direct access to State Road 82. This parcel is in a nice quiet neighborhood but has quick access in and out making commuting to and from a breeze! Buy now and build or hold this property for future investment as taxes are low!

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 2026

Tags

• IMPACT-RESISTANT DOORS
• IMPACT-RESISTANT WINDOWS
• ONE BLOCK FROM HOMESTEAD

Property features AI

Finance

• Other: Zoning: RS-1; Lot dimensions approximately 80 x 120
• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; 2 covered parking spaces
• Security: High-impact/security doors
• Utilities: Well water; Septic tank sewer; Cable not available
• Home design: Single-story home; New construction; Faces west; Entry level: 1
• Construction: Block and concrete construction; Shingle roof
• Exterior features: Patio; Security / high-impact doors; Rectangular lot; Lot exposures to the east

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Kitchen island
• Bedrooms: Includes a den (room type listed)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Unfurnished; Bathtub; Separate shower; Kitchen island; Open living/dining area; Other interior feature(s)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $395k.

Deal economics

• At list price, monthly cash flow is $-880 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (32.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (40.7% below list).
• Recommended offer: $234k (40.7% below list) — sets the bar for 1% rule.
• Cap rate 3.6% 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 39% 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 $42k of equity ($3k loan paydown + $39k 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 ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 3 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 $22k; list at $395k implies a 1737% 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; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,087 (40.7% 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 46 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.59% ✗
• Cap rate: 3.62%
• Cash-on-cash: -9.55%
• DSCR: 0.58
• GRM: 14.1

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: 16.9%
• Equity multiple: 2.38×
• Total profit: $152,215
• Equity at exit: $355,757

10-year hold

• IRR: 15.6%
• Equity multiple: 5.34×
• Total profit: $480,098
• Equity at exit: $767,204

Cash invested: $110,572 (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: 14.1×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,924/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-880

Break-even live

Break-even rent $3,455

Max offer price $267,595

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: $98,725
• Closing costs: $11,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Caywood Ave S Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	23d	1	0.08mi
515 Croydon Ave S Lehigh Acres, FL	3.0	3.0	1253	$2,200	$1.76	3d	1	0.18mi
20190 Caroline Creek Pl Unit 250 Lehigh Acres, FL	3.0	2.0	1448	$1,900	$1.31	3d	1	0.28mi
20190 Caroline Creek Pl Unit 250 Lehigh Acres, FL	3.0	2.0	1448	$2,200	$1.52	23d	1	0.28mi
606 Morningmist Ln Lehigh Acres, FL	4.0	2.5	1817	$2,295	$1.26	3d	1	0.35mi
598 Aston Lake Ct Lehigh Acres, FL	3.0	2.0	1703	$2,395	$1.41	21d	1	0.38mi
20050 Caroline Creek Pl Lehigh Acres, FL	4.0	2.5	1885	$2,300	$1.22	23d	1	0.38mi
12321 Dakota Ridge Pl Lehigh Acres, FL	3.0	2.0	1448	$1,850	$1.28	14d	1	0.40mi
567 Charwood Ave S Lehigh Acres, FL	3.0	2.0	1564	$1,900	$1.21	14d	1	0.43mi
12441 Dakota Ridge Pl Lehigh Acres, FL	4.0	2.5	1885	$2,150	$1.14	23d	1	0.44mi
668 Chemstrand St E Lehigh Acres, FL	3.0	2.0	2388	$2,000	$0.84	23d	1	0.45mi
546 Whispering Wind Bnd Lehigh Acres, FL	3.0	2.0	1437	$1,950	$1.36	2d	1	0.48mi
19931 Green Pasture Rd Lehigh Acres, FL	4.0	2.0	1817	$2,248	$1.24	23d	1	0.50mi
12312 Amber Waves Rd Lehigh Acres, FL	4.0	2.0	1937	$2,325	$1.20	19d	1	0.52mi
12312 Amber Waves Rd Unit NA Lehigh Acres, FL	4.0	2.0	1941	$2,325	$1.20	23d	1	0.52mi
20012 Petrucka Cir N Unit D Lehigh Acres, FL	3.0	2.0	1517	$1,750	$1.15	23d	1	0.52mi
541 Chalet Ave S Lehigh Acres, FL	4.0	3.0	1650	$2,400	$1.45	23d	1	0.54mi
19882 Green Pasture Rd Lehigh Acres, FL	4.0	2.0	1942	$2,350	$1.21	23d	1	0.55mi
20055 Lake Vista Cir N Lehigh Acres, FL	3.0	2.0	1442	$1,700	$1.18	23d	1	0.55mi
11621 Savanna Lakes Blvd Lehigh Acres, FL	4.0	3.0	2174	$2,200	$1.01	16d	1	0.62mi
11613 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,700	$1.10	16d	1	0.62mi
19949 Lake Vista Cir N #1 Lehigh Acres, FL	3.0	2.0	1442	$1,800	$1.25	23d	1	0.69mi
19949 Lake Vista Cir Unit 16C Lehigh Acres, FL	3.0	2.0	1517	$1,600	$1.05	23d	1	0.70mi
720 Chavers St Lehigh Acres, FL	3.0	2.0	1547	$2,200	$1.42	23d	1	0.71mi
19933 Lake Vista Cir Lehigh Acres, FL	3.0	2.0	1776	$1,750	$0.99	19d	1	0.73mi
696 Homestead Rd S Lehigh Acres, FL	4.0	2.0	1777	$2,200	$1.24	23d	1	0.78mi
532 Ilaria Ct Lehigh Acres, FL	4.0	2.0	1598	$2,300	$1.44	16d	1	0.81mi
351 Ranchito Ave Lehigh Acres, FL	3.0	2.5	1500	$2,000	$1.33	23d	1	0.85mi
19750 Garden Ridge Ct Lehigh Acres, FL	4.0	2.5	1400	$2,200	$1.57	23d	1	0.89mi
11918 Savanna Lakes Blvd Lehigh Acres, FL	3.0	2.0	1484	$2,000	$1.35	23d	1	0.91mi
337 Rancho Ave Lehigh Acres, FL	3.0	2.0	1723	$2,150	$1.25	23d	1	0.98mi
438 Poplar St Lehigh Acres, FL	3.0	2.0	1640	$2,150	$1.31	3d	1	1.00mi
11634 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,650	$1.08	21d	1	1.01mi
467 Raymer St Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	10d	1	1.03mi
477 Rayford St Lehigh Acres, FL	4.0	3.0	1715	$2,000	$1.17	23d	1	1.03mi
334 Ranch Ave Lehigh Acres, FL	3.0	2.0	1645	$2,150	$1.31	3d	1	1.05mi
472 Rajah St Lehigh Acres, FL	3.0	2.0	1715	$2,200	$1.28	3d	1	1.06mi
437 Reading St Lehigh Acres, FL	4.0	2.0	1833	$1,795	$0.98	2d	1	1.10mi
448 Grant Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1244	$1,650	$1.33	21d	1	1.10mi
727 Cane St E Lehigh Acres, FL	3.0	2.0	1582	$2,000	$1.26	23d	1	1.10mi

Listing history 18 events

1. 2026-06-10
   days on market $394,900 Active 46 DOM
2. 2026-06-09
   days on market $394,900 Active 45 DOM
3. 2026-06-08
   days on market $394,900 Active 44 DOM
4. 2026-06-07
   days on market $394,900 Active 43 DOM
5. 2026-06-03
   days on market $394,900 Active 39 DOM
6. 2026-06-02
   days on market $394,900 Active 38 DOM
7. 2026-06-02
   price $394,900 Active 37 DOM
8. 2026-06-01
   days on market $399,900 Active 37 DOM
9. 2026-05-31
   days on market $399,900 Active 36 DOM
10. 2026-05-15
    price $399,900
11. 2026-04-25
    listed $404,900 Active
12. 2024-10-04
    historical
13. 2024-08-20
    listed $30,000 Active
14. 2023-12-13
    soldstatus $21,500
15. 2023-12-08
    soldstatus $21,500 Closed 299-char remark

    Show marketing remark (299 chars)

    Great buildable lot just one block east of Homestead Road which provides direct access to State Road 82. This parcel is in a nice quiet neighborhood but has quick access in and out making commuting to and from a breeze! Buy now and build or hold this property for future investment as taxes are low!

16. 2023-11-21
    status Pending 299-char remark

    Show marketing remark (299 chars)

    Great buildable lot just one block east of Homestead Road which provides direct access to State Road 82. This parcel is in a nice quiet neighborhood but has quick access in and out making commuting to and from a breeze! Buy now and build or hold this property for future investment as taxes are low!

17. 2023-11-14
    listed $21,900 Active 299-char remark

    Show marketing remark (299 chars)

    Great buildable lot just one block east of Homestead Road which provides direct access to State Road 82. This parcel is in a nice quiet neighborhood but has quick access in and out making commuting to and from a breeze! Buy now and build or hold this property for future investment as taxes are low!

18. 2001-06-18
    soldstatus $12,400

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,090
• − Mortgage interest: −$22,121
• − Property taxes: −$5,924
• − Insurance: −$1,974
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$11,488
• Taxable loss: −$17,911
• Est. tax savings @ 24.0%: +$4,299
• After-tax cash flow: $-6,259/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

+3125.0% since first listed

9 events — show timeline

• 2026-05-15 Price Changed $399,900 FORTMLS
• 2026-04-25 Listed $404,900 FORTMLS
• 2024-10-04 Listing Removed — FORTMLS
• 2024-08-20 Listed $30,000 FORTMLS
• 2023-12-13 Sold (Public Records) $21,500 Public Records
• 2023-12-08 Sold (MLS) $21,500 FORTMLS
• 2023-11-21 Pending — FORTMLS
• 2023-11-14 Listed $21,900 FORTMLS
• 2001-06-18 Sold (Public Records) $12,400 Public Records

Property tax history

+16.4%/yr

Latest (2025): $457 · +10.8% YoY. Source: county tax records.