4106 22nd St SW · Lehigh Acres, FL 33976

$205,000

2 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 20 Days on market

Built 1983 0.25 ac lot Est $274k · 25% under

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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 +14.6/30.0
• Appreciation +10.0/10.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• 1% rule +3.5/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks MLS

New Roof 2018! Great 2 bedroom with 2 Car garage. Buyer to pay title! Selling AS IS Seller is affiliated with listing brokerage.

Key facts

• Enclosed garage
• Large backyard
• Easy access to sr 82

Tags

• LARGE BACKYARD
• ENCLOSED GARAGE
• EASY ACCESS TO SR 82

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Community is non-gated; Association covers grounds maintenance, trash, and water

Exterior

• Parking: Attached garage; Underground garage; 2 covered garage spaces
• Security: Key card entry; Smoke detectors
• Utilities: Septic tank; Well water; Cable available; High-speed internet available
• Home design: Single-story; Entry level: 1; Faces southwest; Northeast exposure on lot; RS-1 zoning; Resale property
• Construction: Metal roof; Stucco and vinyl siding over wood frame construction; Pillar/post/pier foundation
• Exterior features: Room for pool; Storage; No additional exterior features listed; Well water

Interior

• Kitchen: Freezer; Microwave; Range; Refrigerator; Walk-in pantry
• Bedrooms: Primary bedroom on upper level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window-unit heating; Ceiling fans; Window-unit cooling
• Interior features: Unfurnished; Single-hung windows; Living/dining room; Separate shower; Shower only; Walk-in pantry; Upper-level primary
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $49 ($588/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (14.9% below list).
• Recommended offer: $175k (14.9% 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+, 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 (-1.5%/yr); 786 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).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $57k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $63k; list at $205k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,531 (14.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.85% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $273,504
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4015 12th St SW	0.64mi	3/3.0 (+1)	1,057 (+0%)	3mo	$260,000	$246	58
3701 18th St SW	0.69mi	3/2.0 (+1)	1,107 (+5%)	18mo	$297,500	$269	40
3914 13th St SW	0.65mi	3/2.0 (+1)	1,118 (+6%)	23mo	$290,000	$259	35

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

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.91×
• Total profit: $109,630
• Equity at exit: $184,680

10-year hold

• IRR: 20.7%
• Equity multiple: 6.42×
• Total profit: $311,174
• Equity at exit: $398,270

Cash invested: $57,400 (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 33976

• Home prices YoY: 6.8%
• Rents YoY: -1.5%
• Active inventory: 786
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,745 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$169 /mo · $2,032/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $49

Break-even live

Break-even rent $1,683

Max offer price $205,000

Occupancy floor 92%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4001 22nd St SW Lehigh Acres, FL	3.0	2.0	1055	$1,950	$1.85	3d	1	0.15mi
4401 22nd St SW Lehigh Acres, FL	3.0	2.0	1109	$1,345	$1.21	24d	1	0.58mi
4412 25th St SW Lehigh Acres, FL	3.0	2.0	1205	$1,700	$1.41	21d	1	0.58mi
1544 Gretchen Ave S Lehigh Acres, FL	2.0	2.0	1221	$1,800	$1.47	24d	1	0.58mi
4421 25th St SW Lehigh Acres, FL	3.0	2.0	1253	$1,250	$1.00	10d	1	0.64mi
4005 12th St SW Lehigh Acres, FL	3.0	2.0	1122	$1,610	$1.43	20d	1	0.68mi
4507 20th St SW Lehigh Acres, FL	2.0	2.0	1135	$1,400	$1.23	24d	1	0.69mi
1502 Gretchen Ave S Lehigh Acres, FL	3.0	2.0	1270	$2,000	$1.57	3d	1	0.70mi
4512 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,350	$1.29	24d	1	0.75mi
4512 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,300	$1.24	3d	1	0.75mi
4514 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,300	$1.24	3d	1	0.76mi
4514 Leonard Blvd S Lehigh Acres, FL	2.0	2.0	1048	$1,350	$1.29	24d	1	0.76mi
1504 Gary Ln Lehigh Acres, FL	3.0	2.0	1198	$1,660	$1.39	24d	1	0.78mi
1506 Gary Ln Lehigh Acres, FL	3.0	2.0	1198	$1,660	$1.39	24d	1	0.78mi
4523 22nd St SW Lehigh Acres, FL	3.0	2.0	1125	$1,700	$1.51	24d	1	0.78mi
4435 27th St SW Lehigh Acres, FL	3.0	2.0	1158	$1,250	$1.08	20d	1	0.79mi
4503 15th St SW Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	24d	1	0.79mi
4020 36th St SW Lehigh Acres, FL	3.0	2.0	1354	$2,050	$1.51	24d	1	0.80mi
4440 28th St SW Lehigh Acres, FL	3.0	2.0	1200	$1,495	$1.25	12d	1	0.81mi
3600 19th St SW Lehigh Acres, FL	3.0	2.0	1114	$1,746	$1.57	3d	1	0.83mi
4541 20th St SW Lehigh Acres, FL	2.0	1.0	924	$1,195	$1.29	24d	1	0.85mi
4543 21st St SW Lehigh Acres, FL	3.0	2.0	1228	$1,600	$1.30	3d	1	0.85mi
4543 21st St SW Lehigh Acres, FL	3.0	2.0	1228	$1,600	$1.30	3d	1	0.85mi
4545 21st St SW Lehigh Acres, FL	3.0	2.0	1200	$1,500	$1.25	24d	1	0.87mi
1101 Meadow Rd Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	24d	1	0.87mi
1103 Meadow Rd Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	24d	1	0.87mi
4528 24th St SW Lehigh Acres, FL	3.0	2.0	1200	$2,300	$1.92	16d	1	0.88mi
1511 Haviland Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,550	$1.29	24d	1	0.89mi
3802 35th St SW Lehigh Acres, FL	3.0	2.0	1269	$1,640	$1.29	24d	1	0.89mi
1509 Haviland Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,550	$1.29	24d	1	0.89mi
4458 29th St SW Lehigh Acres, FL	2.0	2.0	1024	$2,027	$1.98	24d	1	0.91mi
4460 29th St SW Lehigh Acres, FL	2.0	2.0	1024	$1,500	$1.46	24d	1	0.91mi
4453 29th St SW Lehigh Acres, FL	3.0	2.0	1198	$1,660	$1.39	24d	1	0.91mi
4455 29th St SW Lehigh Acres, FL	3.0	2.0	1198	$1,660	$1.39	24d	1	0.92mi
4501 28th St SW Lehigh Acres, FL	3.0	2.0	1196	$1,660	$1.39	24d	1	0.92mi
4501-4503 28th St SW Lehigh Acres, FL	3.0	2.0	1196	$1,660	$1.39	24d	1	0.92mi
1117 Gordon Ave S Lehigh Acres, FL	3.0	2.0	1170	$1,750	$1.50	21d	1	0.94mi
2202 Haviland Ave S Lehigh Acres, FL	3.0	2.0	1288	$1,900	$1.48	3d	1	0.96mi
4535 26th St SW Lehigh Acres, FL	3.0	2.0	1105	$1,375	$1.24	24d	1	0.97mi
4218 8th St SW Lehigh Acres, FL	3.0	2.0	1408	$1,800	$1.28	24d	1	0.99mi

Listing history 13 events

1. 2026-06-18
   days on market $205,000 Active 20 DOM
2. 2026-06-17
   days on market $205,000 Active 19 DOM
3. 2026-06-16
   pricedays on market $205,000 Active 18 DOM
4. 2026-06-15
   days on market $208,000 Active 17 DOM
5. 2026-06-13
   days on market $208,000 Active 15 DOM
6. 2026-06-10
   days on market $208,000 Active 12 DOM
7. 2026-06-09
   days on market $208,000 Active 11 DOM
8. 2026-06-08
   days on market $208,000 Active 10 DOM
9. 2026-06-07
   days on market $208,000 Active 9 DOM
10. 2026-06-03
    days on market $208,000 Active 5 DOM
11. 2026-06-02
    days on market $208,000 Active 4 DOM
12. 2026-06-01
    days on market $208,000 Active 3 DOM
13. 2026-05-31
    days on market $208,000 Active 2 DOM

ⓘ 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: $2,032 · $169/mo
• Projected year-2 tax: $2,032 · $169/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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $20,944
• − Mortgage interest: −$11,483
• − Property taxes: −$2,032
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$5,964
• Taxable loss: −$2,911
• Est. tax savings @ 24.0%: +$699
• After-tax cash flow: $1,287/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): 20,277
• Household income: $72,679
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 574.0

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: Hispanic / Latino 50% Two or more races 30% White 24% Black 20% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 8% Cuban 18% Dominican 4%
• Common ancestry: Hispanic 8% Slovak 1% Lithuanian 1%
• Foreign-born: 35% · Canada, Jamaica, Vietnam
• Languages at home: 46% English-only · Spanish 43% French/Haitian/Cajun 8% Vietnamese 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: ▲ 21.77%
• Current HPI: 340.4255
• Rent YoY: ▼ -1.54%
• 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

+139.1% since first listed

15 events — show timeline

• 2026-05-29 Listed $208,000 FORTMLS
• 2020-03-30 Listing Removed — FORTMLS
• 2020-03-18 Price Changed $135,000 FORTMLS
• 2020-03-09 Listed $140,000 FORTMLS
• 2019-12-20 Sold (MLS) $63,000 FORTMLS
• 2019-12-18 Sold (Public Records) $63,000 Public Records
• 2019-11-19 Pending — FORTMLS
• 2019-11-02 Price Changed $99,000 FORTMLS
• 2019-10-13 Listed $120,000 FORTMLS
• 2012-08-24 Sold (MLS) $40,000 FORTMLS
• 2012-08-12 Price Changed $41,800 FORTMLS
• 2009-05-29 Sold (MLS) $29,900 FORTMLS
• 2006-10-24 Sold (Public Records) $167,000 Public Records
• 2005-12-05 Sold (Public Records) $160,000 Public Records
• 2004-02-26 Sold (Public Records) $87,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,032 · -12.3% YoY. Source: county tax records.