1120/1122 Gordon Ave S · Lehigh Acres, FL 33973

$379,000

6 bd · 4.0 ba · 2,340 sqft · MultiFamily · 86 Days on market

Built 2006 Good condition 0.29 ac lot Est $543k · 30% under ↓ 5% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Appreciation +0.8/10.0
• Rent growth +0.8/5.0

Multi-family units

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

Listing remarks

JUST REPOSITIONED PRICE!! Great opportunity for investors seeking immediate cash flow. Discover a prime multi-family opportunity in one of Southwest Florida’s fastest-growing rental markets. This duplex in Lehigh Acres offers the perfect blend of cash flow potential, long-term appreciation, and high tenant demand, making it ideal for both seasoned investors and owner-occupants looking to offset their mortgage. Two units each with 3 bedrooms and 2 bathrooms with a car garage and screened lanai porch entrance. Freshly painted on the exterior and interior, automatic door garage, well maintained duplex to give the peace of mind that next owner deserves. Don’t miss this chance to own

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 2006

Tags

• MULTI-FAMILY OPPORTUNITY
• SCREENED LANAI PORCH ENTRANCE
• FRESHLY PAINTED EXTERIOR
• WELL MAINTAINED DUPLEX

Property features AI

Finance

• Financial info: Gross scheduled income: $3,300; Operating expenses: $500; Actual rents shown: $1,600 and $1,700 per unit; Tenant pays electricity, grounds care, and internet; Pets allowed
• HOA & community: No association fee; Non-gated community

Exterior

• Parking: Each unit includes one attached garage space (2 attached garages total)
• Utilities: Well water; Septic tank sewer; Cable not available
• Home design: Multi-family property with 2 units; Resale condition; Zoned RM-2
• Construction: Shingle roof; Block, concrete, and stucco construction
• Exterior features: Patio; Rectangular lot; Paved road access

Interior

• Kitchen: Each unit includes a range and refrigerator
• Bedrooms: Two units each with 3 bedrooms (one unit on each level)
• Flooring: Tile
• Bathrooms: Four full bathrooms total (two in each unit)
• Heating & cooling: Central electric heating; Central electric cooling (air conditioning)
• Interior features: Single-hung windows; Tile flooring
• Laundry & utility: Each unit has washer/dryer hookup; Water softener (owned)

🏷️ Possibly a rental listed for sale. The $379,000 price doesn't fit this home's estimated sale value (~$542,880) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $379k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive. Per door: $53/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 $345k (9.0% below list).
• Recommended offer: $345k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+, 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 falling (-7.0%/yr); 295 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,450/mo this rent would consume 68% of the median local household income ($61k/yr) (locally 1142% 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 $11k 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 86 days — a 6% lower offer ($356k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $345,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 9% 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: 0.91% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $542,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 Harold Ave S	0.06mi	6/4.0	2,360 (+1%)	9mo	$550,000	$233	88
1121-1123 Harry Ave S	0.08mi	6/4.0	2,364 (+1%)	10mo	$549,900	$233	86
1541/1543 Hightower Ave S	0.44mi	6/4.0	2,400 (+3%)	2mo	$345,000	$144	74
725/727 Ivan Ave S	0.39mi	6/4.0	2,316 (-1%)	15mo	$425,000	$184	68
4525/4527 21st St SW	0.54mi	6/4.0	2,306 (-2%)	6mo	$435,000	$189	67
309 Ichabod Ave S	0.51mi	6/4.0	2,360 (+1%)	9mo	$550,000	$233	67
713-715 Homer Ave S #719	0.35mi	6/4.0	2,360 (+1%)	18mo	$549,900	$233	67
1141-1143 Ichabod Ave S	0.29mi	6/4.0	2,390 (+2%)	22mo	$562,000	$235	65
312-314 Harry Ave S	0.53mi	6/4.0	2,392 (+2%)	23mo	$549,900	$230	53
22nd SW Unit 4417/4419	0.65mi	6/4.0	2,396 (+2%)	17mo	$550,000	$230	52
724 Jenna Ave S	0.58mi	6/4.0	2,238 (-4%)	20mo	$449,000	$201	49
133-135 Hightower Ave S	0.67mi	6/4.0	2,392 (+2%)	22mo	$554,900	$232	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.39×
• Total profit: $-64,701
• Equity at exit: $56,510

10-year hold

• IRR: -17.1%
• Equity multiple: 0.19×
• Total profit: $-86,484
• Equity at exit: $32,769

Cash invested: $106,120 (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 33973

• Home prices YoY: -3.4%
• Rents YoY: -7.0%
• Active inventory: 295
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $3,450 high
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $106

Break-even live

Break-even rent $3,315

Max offer price $379,000

Occupancy floor 92%

Sensitivity live

Price	-10% $368	-5% $237	+0% $106	+5% $-25	+10% $-156
Rent	-10% $-166	-5% $-30	+0% $106	+5% $243	+10% $379
Rate	-1.0pp $297	-0.5pp $203	base $106	+0.5pp $8	+1.0pp $-92

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,450
Total (2 units)			$3,450

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Ichabod Ave Lehigh Acres, FL	6.0	4.0	2376	$2,100	$0.88	25d	1	0.29mi
10849 Timber Creek Dr Fort Myers, FL	5.0	4.5	3357	$4,000	$1.19	25d	1	1.37mi

Listing history 13 events

1. 2026-06-17
   days on market $379,000 Active 86 DOM
2. 2026-06-16
   days on market $379,000 Active 85 DOM
3. 2026-06-15
   days on market $379,000 Active 84 DOM
4. 2026-06-13
   days on market $379,000 Active 82 DOM
5. 2026-06-10
   days on market $379,000 Active 79 DOM
6. 2026-06-09
   days on market $379,000 Active 78 DOM
7. 2026-06-07
   days on market $379,000 Active 76 DOM
8. 2026-06-03
   days on market $379,000 Active 72 DOM
9. 2026-06-02
   days on market $379,000 Active 71 DOM
10. 2026-06-01
    days on market $379,000 Active 70 DOM
11. 2026-06-01
    days on market $379,000 Active 69 DOM
12. 2026-05-04
    price $379,000
13. 2026-03-23
    listed $399,000 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $41,400
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,312
• − Management: −$3,312
• − Depreciation: −$11,025
• Taxable loss: −$5,059
• Est. tax savings @ 24.0%: +$1,214
• After-tax cash flow: $2,490/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained multi-family property offers a good investment opportunity with minimal repairs and updates needed to maximize its value.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics, increasing both resale and rental value.
• Both Landscaping — Improved landscaping can significantly enhance curb appeal and attract more tenants or buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics, increasing both resale and rental value. ↑
• Both Landscaping — Improved landscaping can significantly enhance curb appeal and attract more tenants or buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,392
• Household income: $60,530
• Rent vs Own: 77.1% rent · 22.9% own
• Severe rent burden: 1142.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% Black 36% Two or more races 21% White 18%
• Hispanic origin (detail): Mexican 21% Puerto Rican 7% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 14% Russian 1% Estonian 1%
• Foreign-born: 23% · Canada, China
• Languages at home: 54% English-only · Spanish 31% French/Haitian/Cajun 13% 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: ▼ -8.43%
• Current HPI: 237.694
• Rent YoY: ▼ -6.99%
• 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

-5.0% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $379,000 FORTMLS
• 2026-03-23 Listed $399,000 FORTMLS