2700 38th St SW · Lehigh Acres, FL 33976

$304,990

4 bd · 2.0 ba · 1,650 sqft · Land · 65 Days on market

Built 2026 0.25 ac lot

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Why this score? — see what drove the D 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
• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.1/5.0
• DSCR +1.9/10.0

Listing remarks

NEW BUILD - Anticipated completion date is JUNE 2026. WAS $314,990 - NOW $304,990. SPECIAL INCENTIVES: UP TO $20,000 towards CLOSING COST / PREPAIDS when using preferred lenders. The 1,650-square-foot (air-conditioned) Fairfield plan is an open-concept floor plan that includes four bedrooms, two bathrooms, and a two-car garage. The kitchen of the Fairfield boasts many contemporary features, including upgraded 36” contemporary shaker-style cabinets, a large 8’ wide kitchen island with upgraded countertops, Whirlpool dishwasher, microwave, and range, and overlooks an expansive great room, making it the perfect plan for entertaining and day-to-day living. The great room and dining

Key facts

• Large kitchen island
• Expansive great room
• Private bathroom

Tags

• OPEN-CONCEPT FLOOR PLAN
• LARGE KITCHEN ISLAND
• EXPANSIVE GREAT ROOM
• TILE-PLANK FLOORING
• VAULTED CEILINGS
• PRIVATE BATHROOM

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee

Exterior

• Parking: Attached garage with garage door opener; 2 covered garage spaces
• Security: High-impact doors
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story; Entry on level 1; Faces south; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof; Built with a foundation suitable for the construction materials
• Exterior features: Open porch; Security/high-impact doors; Corner lot; North exposure

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Family/dining room; Living/dining room; Pantry; Cable TV; High ceilings; Vaulted ceilings; Split bedrooms
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $305k.

Deal economics

• At list price, monthly cash flow is $-334 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (26.4% below list).
• Recommended offer: $224k (26.4% below list) — sets the bar for 1% rule.

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 16d 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 37% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $30k 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 ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($287k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y 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 $24k; list at $305k implies a 1145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,475 (26.4% 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 65 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 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: 0.74% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.70%
• DSCR: 0.79
• GRM: 11.3

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: 20.1%
• Equity multiple: 2.62×
• Total profit: $138,265
• Equity at exit: $274,759

10-year hold

• IRR: 17.8%
• Equity multiple: 5.83×
• Total profit: $412,203
• Equity at exit: $592,528

Cash invested: $85,397 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$1,599
• Tax est. 1.5%: −$381 /mo · $4,575/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $-334

Break-even live

Break-even rent $2,668

Max offer price $256,607

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: $76,248
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3001 37th St SW Lehigh Acres, FL	3.0	2.5	1235	$1,705	$1.38	23d	1	0.41mi
2612 31st St Lehigh Acres, FL	4.0	2.0	1365	$1,799	$1.32	14d	1	0.47mi
2612 31st St Lehigh Acres, FL	4.0	2.0	1389	$1,799	$1.30	16d	1	0.47mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,930	$1.38	2d	1	0.54mi
2916 42nd St SW Lehigh Acres, FL	3.0	2.0	1399	$1,960	$1.40	3d	1	0.54mi
813 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1200	$1,495	$1.25	23d	1	0.56mi
3012 40th St SW Lehigh Acres, FL	3.0	2.0	1427	$1,950	$1.37	23d	1	0.62mi
2710 28th St SW Lehigh Acres, FL	4.0	2.0	1742	$2,450	$1.41	23d	1	0.65mi
4701 Connie Ave S Lehigh Acres, FL	3.0	2.0	1314	$1,900	$1.45	14d	1	0.66mi
397 Pennfield Ave Lehigh Acres, FL	4.0	2.0	1780	$2,100	$1.18	23d	1	0.67mi
20483 Copperhead Dr Unit 20483 Lehigh Acres, FL	3.0	3.0	1849	$2,300	$1.24	10d	1	0.67mi
2708 27th St SW Lehigh Acres, FL	4.0	2.0	1698	$2,280	$1.34	3d	1	0.71mi
2513 48th St SW Lehigh Acres, FL	3.0	2.0	1423	$1,750	$1.23	16d	1	0.72mi
749 Alabama Rd S Unit 749 Lehigh Acres, FL	3.0	2.0	1275	$1,800	$1.41	2d	1	0.73mi
3102 39th St SW Lehigh Acres, FL	3.0	2.0	1097	$1,630	$1.49	21d	1	0.74mi
20555 Copperhead Dr Lehigh Acres, FL	4.0	3.0	2032	$2,490	$1.23	3d	1	0.76mi
325 Paulcrest Ave Lehigh Acres, FL	4.0	2.0	1619	$2,300	$1.42	23d	1	0.76mi
20550 Copperhead Dr Lehigh Acres, FL	4.0	3.0	2002	$3,500	$1.75	23d	1	0.77mi
177 Pennfield St Lehigh Acres, FL	3.0	2.0	1250	$1,850	$1.48	23d	1	0.78mi
2911 48th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,200	$1.28	10d	1	0.81mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	16d	1	0.83mi
3114 39th St SW Lehigh Acres, FL	3.0	2.0	1493	$2,100	$1.41	3d	1	0.83mi
2811 25th St SW Unit NA Lehigh Acres, FL	3.0	2.0	1430	$1,990	$1.39	23d	1	0.83mi
4704 Karen Ave S Lehigh Acres, FL	4.0	3.0	1916	$2,500	$1.30	3d	1	0.89mi
2602 24th St SW Lehigh Acres, FL	3.0	2.0	1358	$1,800	$1.33	3d	1	0.90mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	3d	1	0.90mi
3201 42nd St SW Lehigh Acres, FL	3.0	2.0	1571	$2,195	$1.40	3d	1	0.90mi
4702 Loraine Ave S Lehigh Acres, FL	3.0	2.0	1354	$2,000	$1.48	14d	1	0.92mi
2819 51st St SW Lehigh Acres, FL	4.0	2.0	1472	$2,250	$1.53	23d	1	0.93mi
2908 51st St SW Lehigh Acres, FL	3.0	2.0	1401	$1,796	$1.28	3d	1	0.93mi
2914 24th St SW Lehigh Acres, FL	3.0	2.0	1537	$2,250	$1.46	23d	1	0.99mi
3008 25th St SW Lehigh Acres, FL	4.0	2.0	1565	$1,711	$1.09	21d	1	1.00mi
234 Pullman St Lehigh Acres, FL	3.0	2.0	1392	$1,800	$1.29	23d	1	1.01mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,100	$1.49	23d	1	1.01mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,000	$1.42	3d	1	1.01mi
664 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1181	$1,200	$1.02	23d	1	1.01mi
227 Pennfield St Lehigh Acres, FL	4.0	2.0	1732	$2,275	$1.31	23d	1	1.01mi
662 Alabama Rd S Lehigh Acres, FL	3.0	2.0	1181	$1,200	$1.02	23d	1	1.01mi
2507 53rd St SW Lehigh Acres, FL	3.0	2.0	1714	$1,950	$1.14	3d	1	1.03mi
2512 54th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,750	$0.95	3d	1	1.05mi

Listing history 20 events

1. 2026-06-17
   pricedays on market $304,990 Active 65 DOM
2. 2026-06-16
   days on market $305,990 Active 64 DOM
3. 2026-06-15
   days on market $305,990 Active 63 DOM
4. 2026-06-13
   days on market $305,990 Active 61 DOM
5. 2026-06-10
   pricedays on market $305,990 Active 58 DOM
6. 2026-06-09
   days on market $306,990 Active 57 DOM
7. 2026-06-07
   days on market $306,990 Active 55 DOM
8. 2026-06-03
   pricedays on market $306,990 Active 51 DOM
9. 2026-06-02
   days on market $308,990 Active 50 DOM
10. 2026-06-01
    days on market $308,990 Active 49 DOM
11. 2026-05-31
    days on market $308,990 Active 48 DOM
12. 2026-05-21
    price $309,990
13. 2026-05-13
    price $311,990
14. 2026-04-13
    listed $314,990 Active
15. 2025-12-22
    soldstatus $24,500
16. 2006-06-30
    historical
17. 2005-12-22
    listed $49,900
18. 2005-05-18
    soldstatus $39,900
19. 2005-04-27
    soldstatus $30,000
20. 2004-07-02
    soldstatus $13,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $26,937
• − Mortgage interest: −$17,084
• − Property taxes: −$4,575
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − Depreciation: −$8,872
• Taxable loss: −$9,429
• Est. tax savings @ 24.0%: +$2,263
• After-tax cash flow: $-1,749/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

+2284.5% since first listed

9 events — show timeline

• 2026-05-21 Price Changed $309,990 FORTMLS
• 2026-05-13 Price Changed $311,990 FORTMLS
• 2026-04-13 Listed $314,990 FORTMLS
• 2025-12-22 Sold (Public Records) $24,500 Public Records
• 2006-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-12-22 Listed $49,900 Stellar MLS as Distributed by MLS Grid
• 2005-05-18 Sold (Public Records) $39,900 Public Records
• 2005-04-27 Sold (Public Records) $30,000 Public Records
• 2004-07-02 Sold (Public Records) $13,000 Public Records

Property tax history

+17.6%/yr

Latest (2025): $433 · +11.0% YoY. Source: county tax records.