111 E 12th St · Lehigh Acres, FL 33972

$389,000

6 bd · 4.0 ba · 2,380 sqft · MultiFamily public records · 386 Days on market

Built 2007 10,436 sqft lot

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Why this score? — see what drove the C- 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 +19.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.8/10.0
• Schools +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

NEWER DUPLEX WITH ATTACHED GARAGE. CURRENTLY TENANT OCCUPIED. .. GREAT OPPORTUNITY FOR INVESTOR WHO WANT TO CASH FLOW. PROPERTY MANAGER IN PLACE.

Key facts

• Open layout
• New ac
• New roof

Tags

• OPEN LAYOUT
• WASHER AND DRYER HOOKUP
• NEW ROOF
• NEW AC

Property features AI

Finance

• Other: Tenants pay application fee, cable TV, electricity, internet, pest control and telephone; Pets allowed
• Financial info: Gross scheduled income: $38,580; Operating expenses: $5,859.96; Actual rent — Unit 1: $1,525; Unit 2: $1,690; Both units listed as unfurnished
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Each unit has an attached 1-car garage
• Security: No security features listed
• Utilities: Septic tank sewer; Well water; Cable service not available
• Home design: Multifamily property with 2 total units; Zoned RM-2
• Construction: Shingle roof; Block, concrete and stone construction
• Exterior features: Rectangular lot; No additional exterior features listed

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two three-bedroom units (each unit has 3 bedrooms)
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Four full bathrooms total (each unit has 2 full bathrooms)
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Sliding windows; Resale condition
• Laundry & utility: Laundry located in the garage for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive. Per door: $206/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (2.2% below list).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.7% in Lehigh Acres — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 1 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,804/mo this rent would consume 62% of the median local household income ($74k/yr) (locally 190% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 386 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $389k implies a 419% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $342,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 386 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 8.5

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-27,621
• Equity at exit: $58,001

10-year hold

• IRR: 5.5%
• Equity multiple: 1.45×
• Total profit: $49,071
• Equity at exit: $33,634

Cash invested: $108,920 (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: 17.0×

Monthly cashflow live

• Estimated rent: $3,804 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$390 /mo · $4,684/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $413

Break-even live

Break-even rent $3,281

Max offer price $389,000

Occupancy floor 84%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,804
Total (2 units)			$3,804

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1119 Clayton Ave Lehigh Acres, FL	5.0	2.0	2196	$2,405	$1.10	2d	1	0.06mi

Listing history 18 events

1. 2026-06-17
   days on market $389,000 Active 386 DOM
2. 2026-06-16
   days on market $389,000 Active 385 DOM
3. 2026-06-16
   days on market $389,000 Active 384 DOM
4. 2026-06-13
   days on market $389,000 Active 382 DOM
5. 2026-06-09
   days on market $389,000 Active 378 DOM
6. 2026-06-07
   days on market $389,000 Active 376 DOM
7. 2026-06-02
   days on market $389,000 Active 371 DOM
8. 2026-06-01
   days on market $389,000 Active 370 DOM
9. 2026-06-01
   days on market $389,000 Active 369 DOM
10. 2025-10-06
    price $389,000
11. 2025-06-19
    price $409,900
12. 2025-05-24
    listed $419,900 Active
13. 2011-03-10
    soldstatus $75,000
14. 2011-03-07
    soldstatus $75,000 145-char remark

    Show marketing remark (145 chars)

    NEWER DUPLEX WITH ATTACHED GARAGE. CURRENTLY TENANT OCCUPIED. .. GREAT OPPORTUNITY FOR INVESTOR WHO WANT TO CASH FLOW. PROPERTY MANAGER IN PLACE.

15. 2011-02-14
    price $79,999 145-char remark

    Show marketing remark (145 chars)

    NEWER DUPLEX WITH ATTACHED GARAGE. CURRENTLY TENANT OCCUPIED. .. GREAT OPPORTUNITY FOR INVESTOR WHO WANT TO CASH FLOW. PROPERTY MANAGER IN PLACE.

16. 2010-04-19
    soldstatus $68,000
17. 2010-04-08
    soldstatus $87,200
18. 2006-12-19
    soldstatus $30,000

ⓘ 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: $4,684 · $390/mo
• Projected year-2 tax: $4,684 · $390/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 26 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: $45,648
• − Mortgage interest: −$21,790
• − Property taxes: −$4,684
• − Insurance: −$1,945
• − Repairs & maintenance: −$3,652
• − Management: −$3,652
• − Depreciation: −$11,316
• Taxable loss: −$1,391
• Est. tax savings @ 24.0%: +$334
• After-tax cash flow: $5,287/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

+1196.7% since first listed

9 events — show timeline

• 2025-10-06 Price Changed $389,000 FORTMLS
• 2025-06-19 Price Changed $409,900 FORTMLS
• 2025-05-24 Listed $419,900 FORTMLS
• 2011-03-10 Sold (Public Records) $75,000 Public Records
• 2011-03-07 Sold (MLS) $75,000 FORTMLS
• 2011-02-14 Price Changed $79,999 FORTMLS
• 2010-04-19 Sold (Public Records) $68,000 Public Records
• 2010-04-08 Sold (Public Records) $87,200 Public Records
• 2006-12-19 Sold (Public Records) $30,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $4,684 · +9.4% YoY. Source: county tax records.