824 Frederick Reid St St E · Lehigh Acres, FL 33974

$5,000

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 2 Days on market

Built 1993

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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).

• Cash flow +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0

Listing remarks MLS

MOVE IN READY LEHIGH ACRES 3 BEDROOM 2 BATH HOME AVAILABLE FOR IMMEDIATE PURCHASE! This almost 1,300 square foot home offers a large open Family Room and Formal Dining Room with Vaulted Ceilings. Fresh Paint Just completed on the interior and Complete Exterior professionally done. The exterior is covered in Hardy Board which is very durable and outlasts wood. The Kitchen is large in size with tons of room for a table and pass through to the Family Room. Split Bedroom Floorplan. 3rd Bedroom could be used as a Den if Preferred. Master Bedroom offers sliders onto your screened in Porch. Master Bathroom has an oversized His and Hers Sinks. Enjoy your evenings in your covered screened in Porch. This home is handicap accessible and offers a wheelchair ramp in the front of the home. This home is a must see and will not last!

Key facts

• Garage
• Listed 2 days

Property features AI

Exterior

• Parking: One-car garage
• Home design: Residential property; One-story residence
• Exterior features: Lot zoned RS-1

Interior

• Bathrooms: Two full bathrooms
• Interior features: Single-story layout

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$296,240) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• Cap rate 383.2% 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 falling (-4.7%/yr); 2460 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $535 of equity ($35 loan paydown + $500 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 $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• 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 $5,000

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: 40.63% ✓
• Cap rate: 383.16%
• Cash-on-cash: 1345.94%
• DSCR: 60.89
• GRM: 0.2

CMA / ARV

• ARV (on-the-fly): $296,240
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
823 Hoosier St E	0.14mi	3/2.0	1,478 (+15%)	4mo	$325,000	$220	66
719 Theodore Vail St E	0.64mi	3/2.0	1,283 (-0%)	5mo	$250,000	$195	65
512 Genesee Ave S	0.63mi	3/2.0	1,300 (+1%)	9mo	$299,900	$231	62
925 Winters St E	0.66mi	3/2.0	1,270 (-1%)	7mo	$280,000	$220	61
867 Chipley St E	0.61mi	3/2.0	1,222 (-5%)	3mo	$291,000	$238	60
510 Frank Jewett Ave S	0.58mi	3/2.0	1,325 (+3%)	12mo	$315,000	$238	58
735 Manhattan St E	0.42mi	2/2.0 (-1)	1,263 (-2%)	22mo	$291,000	$230	54
809 Bently St E	0.68mi	3/2.0	1,291 (+0%)	21mo	$315,000	$244	51
555 Mcarthur Blvd	0.51mi	3/2.0	1,401 (+9%)	15mo	$265,000	$189	49
753 Bently St E	0.72mi	3/2.0	1,428 (+11%)	15mo	$320,000	$224	36

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: —
• Equity multiple: 70.15×
• Total profit: $96,812
• Equity at exit: $4,504

10-year hold

• IRR: —
• Equity multiple: 140.89×
• Total profit: $195,848
• Equity at exit: $9,714

Cash invested: $1,400 (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 33974

• Home prices YoY: 5.8%
• Rents YoY: -4.7%
• Active inventory: 2460
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $1,570

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 18%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 Thomas Sherwin Ave S Lehigh Acres, FL	4.0	2.0	1493	$2,200	$1.47	3d	1	0.19mi
573 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1218	$1,900	$1.56	14d	1	0.30mi
541 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1634	$1,921	$1.18	3d	1	0.30mi
684 Thomas Sherwin Ave S Lehigh Acres, FL	3.0	2.0	1288	$1,695	$1.32	3d	1	0.31mi
886 Milwaukee Blvd Lehigh Acres, FL	3.0	2.0	1205	$1,900	$1.58	23d	1	0.34mi
874 Apartment St Lehigh Acres, FL	3.0	2.0	1200	$1,750	$1.46	23d	1	0.43mi
635 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1029	$1,300	$1.26	21d	1	0.45mi
635 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1029	$1,300	$1.26	23d	1	0.45mi
908 Winters St E Lehigh Acres, FL	3.0	2.0	1639	$2,200	$1.34	10d	1	0.57mi
508 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	23d	1	0.58mi
459 Lockport Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	23d	1	0.58mi
928 Milwaukee Blvd Lehigh Acres, FL	4.0	2.0	1719	$1,990	$1.16	23d	1	0.58mi
862 Charles Sise St E Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	23d	1	0.66mi
708 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	21d	1	0.70mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	3d	1	0.72mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	3d	1	0.72mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	21d	1	0.72mi
954 Pilgrim St E Lehigh Acres, FL	3.0	2.0	1246	$1,625	$1.30	2d	1	0.72mi
940 Sterling St E Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	3d	1	0.74mi
455 Bell Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1142	$1,600	$1.40	23d	1	0.77mi
541 Chalet Ave S Lehigh Acres, FL	4.0	3.0	1650	$2,400	$1.45	23d	1	0.79mi
720 Chavers St Lehigh Acres, FL	3.0	2.0	1547	$2,200	$1.42	23d	1	0.86mi
538 Flamingo Ave S Lehigh Acres, FL	3.0	2.0	1272	$1,791	$1.41	3d	1	0.88mi
546 Whispering Wind Bnd Lehigh Acres, FL	3.0	2.0	1437	$1,950	$1.36	2d	1	0.91mi
382 McArthur Blvd Lehigh Acres, FL	3.0	2.0	1055	$2,200	$2.09	23d	1	0.91mi
715 Bering Ave S Lehigh Acres, FL	3.0	2.0	1835	$1,895	$1.03	21d	1	0.92mi
567 Charwood Ave S Lehigh Acres, FL	3.0	2.0	1564	$1,900	$1.21	14d	1	0.94mi
970 Lakeside Dr Lehigh Acres, FL	3.0	2.0	1325	$1,800	$1.36	19d	1	0.94mi
825 Carbon St E Lehigh Acres, FL	3.0	2.0	1582	$2,300	$1.45	23d	1	0.96mi
538 Cypress Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	3d	1	0.99mi
406 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	23d	1	1.04mi
404 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	23d	1	1.04mi
388 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,780	$1.48	23d	1	1.04mi
762 Gallo Ave S #764 Lehigh Acres, FL	3.0	2.0	1127	$1,195	$1.06	21d	1	1.05mi
947 Grant Blvd Lehigh Acres, FL	4.0	2.0	1650	$2,145	$1.30	23d	1	1.07mi
760 Festival Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	23d	1	1.11mi
606 Morningmist Ln Lehigh Acres, FL	4.0	2.5	1817	$2,295	$1.26	3d	1	1.12mi
598 Aston Lake Ct Lehigh Acres, FL	3.0	2.0	1703	$2,395	$1.41	21d	1	1.13mi
515 Croydon Ave S Lehigh Acres, FL	3.0	3.0	1253	$2,200	$1.76	3d	1	1.15mi
730 Holmes Ave Unit 728 Lehigh Acres, FL	3.0	2.0	1080	$1,500	$1.39	11d	1	1.16mi

Listing history 3 events

1. 2026-06-18
   days on market $5,000 Active 2 DOM
2. 2026-06-17
   remarks 290-char remark
3. 2026-06-17
   listed $5,000 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $24,377
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$145
• Taxable income: $19,951
• Est. tax owed @ 24.0%: −$4,788
• After-tax cash flow: $14,055/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): 19,927
• Household income: $72,192
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 434.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 52% Two or more races 31% White 26% Black 18%
• Hispanic origin (detail): Mexican 12% Puerto Rican 7% Cuban 20% Dominican 4%
• Common ancestry: Hispanic 7% Italian 1% Portuguese 1%
• Foreign-born: 32% · Canada, Jamaica
• Languages at home: 48% English-only · Spanish 43% French/Haitian/Cajun 7% 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: ▲ 16.53%
• Current HPI: 303.3399
• Rent YoY: ▼ -4.68%
• 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

-81.5% since first listed

7 events — show timeline

• 2026-06-16 Listed $5,000 NFMLS
• 2020-01-16 Sold (MLS) $143,000 NAPLESMLS
• 2019-12-04 Pending — NAPLESMLS
• 2019-10-01 Price Changed $139,900 NAPLESMLS
• 2019-09-08 Listed $149,900 NAPLESMLS
• 2015-03-02 Price Changed $25,900 FORTMLS
• 2009-04-24 Sold (MLS) $27,000 FORTMLS

Property tax history

+7.5%/yr

Latest (2022): $2,034 · +12.1% YoY. Source: county tax records.