867 Chicago St · Lehigh Acres, FL 33974

$279,900

3 bd · 2.0 ba · 1,150 sqft · Land · 10 Days on market

Built 2026 0.27 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
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Rent growth +1.3/5.0
• DSCR +1.1/10.0

Listing remarks MLS

Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

Key facts

• Spacious backyard
• New construction
• Large terrace

Tags

• NEW CONSTRUCTION
• CORNER LOT
• LARGE TERRACE
• OUTDOOR KITCHEN
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $280k.

Deal economics

• At list price, monthly cash flow is $-432 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (32.1% below list).
• Recommended offer: $190k (32.1% 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 falling (-4.7%/yr); 2460 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 32% 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 $30k of equity ($2k loan paydown + $28k 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 ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $18k; list at $280k implies a 1455% gain — meaningful room to come down on a strong offer.

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 $190,177 (32.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.68% ✗
• Cap rate: 4.44%
• Cash-on-cash: -6.61%
• DSCR: 0.71
• GRM: 12.3

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: 18.8%
• Equity multiple: 2.52×
• Total profit: $119,387
• Equity at exit: $252,156

10-year hold

• IRR: 16.9%
• Equity multiple: 5.64×
• Total profit: $363,285
• Equity at exit: $543,784

Cash invested: $78,372 (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: 12.3×

Monthly cashflow live

• Estimated rent: $1,902 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-432

Break-even live

Break-even rent $2,449

Max offer price $217,399

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
382 McArthur Blvd Lehigh Acres, FL	3.0	2.0	1055	$2,200	$2.09	24d	1	0.25mi
455 Bell Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1142	$1,600	$1.40	24d	1	0.41mi
508 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	24d	1	0.48mi
388 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,780	$1.48	24d	1	0.55mi
940 Sterling St E Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	3d	1	0.58mi
350 Limerick Ave S Lehigh Acres, FL	3.0	2.0	1199	$1,800	$1.50	3d	1	0.60mi
573 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1218	$1,900	$1.56	15d	1	0.63mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	15d	1	0.66mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	3d	1	0.66mi
333 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1114	$1,300	$1.17	3d	1	0.69mi
759 Cane St E Lehigh Acres, FL	3.0	2.0	1169	$1,950	$1.67	3d	1	0.69mi
970 Lakeside Dr Lehigh Acres, FL	3.0	2.0	1325	$1,800	$1.36	20d	1	0.71mi
604 Thomas Sherwin Ave S Lehigh Acres, FL	4.0	2.0	1493	$2,200	$1.47	3d	1	0.83mi
886 Milwaukee Blvd Lehigh Acres, FL	3.0	2.0	1205	$1,900	$1.58	24d	1	0.90mi
538 Flamingo Ave S Lehigh Acres, FL	3.0	2.0	1272	$1,791	$1.41	3d	1	0.90mi
954 Pilgrim St E Lehigh Acres, FL	3.0	2.0	1246	$1,625	$1.30	2d	1	0.91mi
713 Cardinal St E Lehigh Acres, FL	3.0	2.0	1100	$1,635	$1.49	3d	1	0.95mi
406 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	24d	1	1.00mi
404 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	24d	1	1.00mi
684 Thomas Sherwin Ave S Lehigh Acres, FL	3.0	2.0	1288	$1,695	$1.32	3d	1	1.00mi
538 Cypress Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	3d	1	1.01mi
635 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1029	$1,300	$1.26	24d	1	1.03mi
635 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1029	$1,300	$1.26	21d	1	1.03mi
874 Apartment St Lehigh Acres, FL	3.0	2.0	1200	$1,750	$1.46	24d	1	1.06mi
442 Genoa Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	3d	1	1.12mi
648 Sunflower Ave S Lehigh Acres, FL	2.0	1.0	777	$1,450	$1.87	3d	1	1.23mi
444 Genoa Ave S Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	21d	1	1.23mi
397 Carrillon Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,550	$1.29	3d	1	1.25mi
718 Sunrise Blvd Lehigh Acres, FL	3.0	2.0	1100	$1,610	$1.46	24d	1	1.26mi
546 Whispering Wind Bnd Lehigh Acres, FL	3.0	2.0	1437	$1,950	$1.36	2d	1	1.29mi
374 Compese Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,750	$1.46	16d	1	1.36mi
515 Croydon Ave S Lehigh Acres, FL	3.0	3.0	1253	$2,200	$1.76	3d	1	1.38mi
1125 Chipley St Unit 1 Lehigh Acres, FL	2.0	1.0	950	$1,350	$1.42	3d	1	1.44mi

Listing history 10 events

1. 2026-03-26
   status Pending
2. 2026-03-16
   listed $279,900 Active
3. 2025-04-15
   historical
4. 2025-04-11
   listed $24,000 Active
5. 2024-03-18
   soldstatus $18,000 Closed 342-char remark

   Show marketing remark (342 chars)

   Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

6. 2024-03-18
   soldstatus $18,000

   Show marketing remark (342 chars)

   Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

7. 2024-02-28
   status Pending 342-char remark

   Show marketing remark (342 chars)

   Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

8. 2024-02-16
   status Active 342-char remark

   Show marketing remark (342 chars)

   Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

9. 2024-01-25
   status Pending 342-char remark

   Show marketing remark (342 chars)

   Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

10. 2023-08-25
    listed $19,500 Active 342-char remark

    Show marketing remark (342 chars)

    Oversized corner lot near Bell Blvd. and close to Mirror Lakes Country Club. The lot is just off Grant Blvd. This is an uncleared and unimproved residential lot that allows for single-family or modular homes. Homes in this area utilize well and septic. Lot is in an area of existing development and new construction. Ready to clear and build.

ⓘ 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 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: $22,821
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$8,143
• Taxable loss: −$10,249
• Est. tax savings @ 24.0%: +$2,460
• After-tax cash flow: $-2,723/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

+1335.4% since first listed

10 events — show timeline

• 2026-03-26 Pending — FORTMLS
• 2026-03-16 Listed $279,900 FORTMLS
• 2025-04-15 Listing Removed — FORTMLS
• 2025-04-11 Listed $24,000 FORTMLS
• 2024-03-18 Sold (Public Records) $18,000 Public Records
• 2024-03-18 Sold (MLS) $18,000 FORTMLS
• 2024-02-28 Pending — FORTMLS
• 2024-02-16 Relisted — FORTMLS
• 2024-01-25 Pending — FORTMLS
• 2023-08-25 Listed $19,500 FORTMLS

Property tax history

+18.0%/yr

Latest (2025): $449 · +24.4% YoY. Source: county tax records.