3857 Kittyhawk Dr · Lehigh Acres, FL 33905

$399,800

4 bd · 4.0 ba · 2,174 sqft · MultiFamily · 5 Days on market

Built 2007 Average condition

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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).

• Cash flow +12.3/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.0/5.0
• Condition / age +2.8/5.0
• Rent growth +1.8/5.0
• 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

ADORABLE, SPACIOUS UPGRADED 4 BEDROOMS, 4 BATHROOM DUPLEX. LOCATED IN BUCKINGHAM ON APPROXIMATELY 1/3 ACRE. ONE UNIT IS RENTED MONTH TO MONTH. THE SECOND UNIT IS VACANT WITH FULL SIZED WASHER & DRYER. THE RENTED UNIT DOES NOT HAVE A WASHER & DRYER. ORIGINALLY BUILT BY A CONTRACTOR FOR HIS FAMILY!!! THIS IS AN EXCELLENT INVESTMENT INCOME PRODUCING PROPERTY! PERFECT FOR A YOUNG COUPLE OR A RETIRED OR SEMI RETIRED COUPLE. HURRICANE SHUTTERS INCLUDED. HURRICANE GARAGE DOORS. EXTENDED DRIVEWAYS! ALSO INCLUDED: EACH UNIT HAS A WATER SOFTENER AND AERATOR!!

Key facts

• Extended driveways
• Water softener
• 1/3 acre

Tags

• 1/3 ACRE
• FULL SIZED WASHER
• HURRICANE SHUTTERS
• HURRICANE GARAGE DOORS
• EXTENDED DRIVEWAYS
• WATER SOFTENER

Property features AI

Finance

• Financial info: Rent includes gardener and water for applicable rental units; One unit reports $1,300 actual rent and is month-to-month

Exterior

• Parking: Total of 4 parking spaces; Garage parking with automatic garage door opener
• Security: Storm/security shutters; Smoke detectors
• Utilities: Well water; Septic tank; Cable available
• Home design: Duplex; Single-story
• Construction: Block construction; Shingle roof; Resale property
• Exterior features: Quarter- to half-acre lot; Storm/security shutters

Interior

• Kitchen: Kitchen in each unit; Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Two bedrooms in each unit
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Two full bathrooms in each unit
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Metal and single-hung windows; Storm/security shutters; Window coverings included; Smoke detectors; Water softener/filter (owned); Circuit breaker electrical
• Laundry & utility: Washer and dryer in at least one unit; Washer/dryer hookups in units; Electric meter

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $400k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-70 ($-838/yr) — negative. Per door: $-35/mo.
• To cash-flow at today's rent, offer at most $390k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $341k (14.7% below list).
• Recommended offer: $341k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.7% in Lehigh Acres — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (-3.0%/yr); 763 active listings in the ZIP; 25 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).
• At $3,409/mo this rent would consume 57% of the median local household income ($72k/yr) (locally 1358% 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,900 (14.7% 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. 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. 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 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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 9.8

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: -20.9%
• Equity multiple: 0.29×
• Total profit: $-79,171
• Equity at exit: $59,611

10-year hold

• IRR: -23.3%
• Equity multiple: -0.01×
• Total profit: $-113,066
• Equity at exit: $34,567

Cash invested: $111,944 (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 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 763
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $3,409 high
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,997/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $-70

Break-even live

Break-even rent $3,497

Max offer price $389,697

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,408
Total (2 units)			$3,409

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: $99,950
• Closing costs: $11,994
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6125 Hershey Ave Fort Myers, FL	4.0	2.0	1879	$2,700	$1.44	14d	1	0.49mi
14562 Cantabria Dr Fort Myers, FL	3.0	3.0	2202	$2,495	$1.13	23d	1	0.56mi
14638 Cantabria Dr Fort Myers, FL	3.0	3.0	1849	$2,200	$1.19	23d	1	0.59mi
14662 Cantabria Dr Fort Myers, FL	3.0	3.0	2202	$2,400	$1.09	23d	1	0.61mi
6151 Hershey Ave Fort Myers, FL	3.0	2.0	1616	$2,100	$1.30	23d	1	0.62mi
6016 Lindbrook Ave Fort Myers, FL	3.0	2.0	1422	$1,800	$1.27	21d	1	0.76mi
14570 Palamos Cir Fort Myers, FL	3.0	3.0	1852	$2,100	$1.13	14d	1	0.79mi
14570 Palamos Cir Fort Myers, FL	3.0	3.0	1852	$2,100	$1.13	13d	1	0.79mi
14632 Palamos Cir Fort Myers, FL	4.0	3.0	2032	$2,400	$1.18	23d	1	0.83mi
14561 Monrovia Ln Fort Myers, FL	4.0	3.0	2032	$2,300	$1.13	23d	1	0.84mi
6050 Stratton Rd Fort Myers, FL	3.0	2.0	1635	$2,200	$1.35	3d	1	0.87mi
6048 Stratton Rd Fort Myers, FL	3.0	2.0	1635	$2,200	$1.35	3d	1	0.87mi
6108 Stratton Rd Fort Myers, FL	3.0	2.0	1635	$2,200	$1.35	3d	1	0.88mi
14680 Portico Blvd Fort Myers, FL	3.0	3.0	1850	$6,000	$3.24	23d	1	0.89mi
3685 E Hampton Cir Alva, FL	3.0	2.0	1675	$2,200	$1.31	11d	1	1.11mi
3502 72nd St W Lehigh Acres, FL	4.0	2.0	1920	$1,750	$0.91	3d	1	1.16mi
15012 Palamos Cir Fort Myers, FL	4.0	3.0	2092	$3,400	$1.63	23d	1	1.20mi
14060 Vindel Cir Fort Myers, FL	3.0	3.0	1852	$2,700	$1.46	16d	1	1.24mi
14060 Vindel Cir Fort Myers, FL	3.0	3.0	1852	$2,700	$1.46	23d	1	1.24mi
3406 68th St W Lehigh Acres, FL	3.0	2.0	1472	$1,875	$1.27	3d	1	1.26mi
3601 57th St W Lehigh Acres, FL	3.0	2.0	1458	$1,850	$1.27	3d	1	1.26mi
3655 Rain Lily Ln Alva, FL	4.0	2.0	1851	$2,250	$1.22	23d	1	1.27mi
3404 68th St W Lehigh Acres, FL	3.0	2.0	1458	$1,855	$1.27	3d	1	1.27mi
3700 Passion Vine Dr Alva, FL	4.0	2.5	2906	$2,500	$0.86	23d	1	1.44mi
3425 Hampton Blvd Alva, FL	3.0	2.0	2140	$4,900	$2.29	3d	1	1.46mi

Listing history 6 events

1. 2026-06-18
   days on market $399,800 Active 5 DOM
2. 2026-06-17
   days on market $399,800 Active 4 DOM
3. 2026-06-16
   days on market $399,800 Active 3 DOM
4. 2026-06-15
   days on market $399,800 Active 2 DOM
5. 2026-06-13
   remarks 563-char remark
6. 2026-06-13
   listed $399,800 Active 1 DOM

ⓘ 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 9/10 Extreme 6 d/yr ≥108°F today · 23 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: $40,908
• − Mortgage interest: −$22,395
• − Property taxes: −$5,997
• − Insurance: −$1,999
• − Repairs & maintenance: −$3,273
• − Management: −$3,273
• − Depreciation: −$11,631
• Taxable loss: −$7,659
• Est. tax savings @ 24.0%: +$1,838
• After-tax cash flow: $1,000/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 · 12 photos

Average 55/100 Cosmetic rehab

This property is in average condition with cosmetic updates needed. Simple improvements to landscaping and painting can significantly enhance its value for both resale and rental.

Repairs flagged

• Minor landscaping — simple landscaping improvements needed
• Minor paint — touch-up paint may be needed

Value-add opportunities

• Both painting — Fresh paint enhances curb appeal and interior aesthetics
• Both landscaping — Improved landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
landscaping · simple landscaping improvements needed	Minor	$500–3,000
paint · touch-up paint may be needed	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both painting — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both landscaping — Improved landscaping enhances curb appeal and property value ↑

ⓘ 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
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1358.0

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 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 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: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• 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

+0.1% since first listed

2 events — show timeline

• 2026-06-13 Price Changed $399,800 MARMLS
• 2026-06-13 Listed $399,500 MARMLS