606 Gerald Ave #112 · Lehigh Acres, FL 33936

$70,000

1 bd · 1.0 ba · 882 sqft · Condo public records · 57 Days on market

Built 1983 $300/mo HOA · 23% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks. Well-located condo with a low monthly association fee (approx. $300/month) offering excellent potential for investors or buyers looking to create value through renovation. Property is sold as-is and will require updating. Excellent investment for rental. Priced accordingly and ready for transformation. Cash or renovation buyers encouraged. No repairs will be made. Kitchen, bath, carpet and flooring original. Newer roof.

Key facts

• Bath original
• Kitchen original
• Sold as-is

Tags

• WELL-LOCATED CONDO
• LOW MONTHLY ASSOCIATION FEE
• SOLD AS-IS
• KITCHEN ORIGINAL
• BATH ORIGINAL
• CARPET ORIGINAL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 soft (-0.8%/yr); 641 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 31% of the median local income ($51k/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 $484 of loan paydown is wiped out by about $2k 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 57 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $51k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 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: 1.88% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.40%
• DSCR: 1.77
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.16×
• Total profit: $3,083
• Equity at exit: $10,437

10-year hold

• IRR: 9.6%
• Equity multiple: 1.60×
• Total profit: $11,838
• Equity at exit: $6,052

Cash invested: $19,600 (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 33936

• Home prices YoY: -19.9%
• Rents YoY: -0.8%
• Active inventory: 641
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$367
• Tax from tax record: −$59 /mo · $714/yr
• Insurance: −$29
• HOA: −$300
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $284

Break-even live

Break-even rent $957

Max offer price $70,000

Occupancy floor 73%

Sensitivity live

Price	-10% $324	-5% $304	+0% $284	+5% $264	+10% $245
Rent	-10% $180	-5% $232	+0% $284	+5% $336	+10% $388
Rate	-1.0pp $319	-0.5pp $302	base $284	+0.5pp $266	+1.0pp $248

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2213 Gardenia Way Lehigh Acres, FL	2.0	1.5	900	$1,740	$1.93	24d	1	0.31mi
738 Joel Blvd Lehigh Acres, FL	2.0	2.0	968	$1,050	$1.08	24d	1	0.34mi
732 Joel Blvd Lehigh Acres, FL	2.0	2.0	788	$1,200	$1.52	24d	1	0.34mi
2201 E 5th St #23 Lehigh Acres, FL	2.0	2.0	1011	$1,300	$1.29	4d	1	0.47mi
343 Joel Blvd #111 Lehigh Acres, FL	2.0	2.0	921	$900	$0.98	24d	1	0.71mi
333 Joel Blvd Lehigh Acres, FL	2.0	1.0–2.0	877	$1,048	$1.19	17d	2	0.77mi
321 Dania St Lehigh Acres, FL	2.0	2.0	915	$1,800	$1.97	24d	1	0.99mi
347 Richland Rd Lehigh Acres, FL	2.0	2.0	1040	$1,150	$1.11	24d	1	1.18mi
198 Joel Blvd #6 Lehigh Acres, FL	2.0	2.0	1036	$1,200	$1.16	4d	1	1.24mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-03-17
   status Pending
2. 2026-01-19
   listed $70,000 Active
3. 2025-12-23
   historical
4. 2025-10-30
   listed $79,900 Active
5. 2025-10-30
   historical
6. 2025-06-23
   listed $89,900 Active
7. 2006-01-05
   soldstatus $51,000
8. 2004-01-16
   soldstatus $38,500
9. 2003-04-09
   soldstatus $31,900

ⓘ 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: $714 · $59/mo
• Projected year-2 tax: $714 · $59/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 1/10 Low
• 🌡 Heat 9/10 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: $15,795
• − Mortgage interest: −$3,921
• − Property taxes: −$714
• − Insurance: −$350
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − HOA: −$3,600
• − Depreciation: −$2,036
• Taxable income: $2,647
• Est. tax owed @ 24.0%: −$635
• After-tax cash flow: $2,774/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): 27,967
• Household income: $51,417
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 1027.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 44% White 41% Two or more races 21% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 9% Cuban 18% Dominican 2%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 1%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 36% French/Haitian/Cajun 3% Tagalog/Filipino 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: ▼ -86.78%
• Current HPI: 348.8631
• Rent YoY: ▼ -0.77%
• 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

+119.4% since first listed

9 events — show timeline

• 2026-03-17 Pending — FORTMLS
• 2026-01-19 Listed $70,000 FORTMLS
• 2025-12-23 Listing Removed — FORTMLS
• 2025-10-30 Listing Removed — FORTMLS
• 2025-10-30 Listed $79,900 FORTMLS
• 2025-06-23 Listed $89,900 FORTMLS
• 2006-01-05 Sold (Public Records) $51,000 Public Records
• 2004-01-16 Sold (Public Records) $38,500 Public Records
• 2003-04-09 Sold (Public Records) $31,900 Public Records

Property tax history

+11.2%/yr

Latest (2025): $714 · +5.2% YoY. Source: county tax records.