2405/2407 George Ave S · Lehigh Acres, FL 33973

$390,000

6 bd · 4.0 ba · 2,362 sqft · MultiFamily · 132 Days on market

Built 2003 0.29 ac lot Est $531k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.7/30.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.8/10.0
• Rent growth +0.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great opportunity in a prime Lehigh Acres location! A versatile property offering strong appeal for both homeowners and investors alike. This well-maintained residence features a newer roof for added peace of mind and a newly remodeled kitchen with modern finishes that make cooking and entertaining a pleasure. Situated in a great location, you’ll enjoy convenient access to shopping, dining, schools, and major roadways while still appreciating the privacy of a quiet neighborhood. Whether you’re looking for a smart investment or a place to call home, this property checks all the boxes with recent upgrades and excellent proximity to everyday amenities.

Key facts

• Newer roof
• 0.29 acre lot
• Built 2003

Tags

• PRIME LEHIGH ACRES LOCATION
• NEWER ROOF
• NEWLY REMODELED KITCHEN
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING
• CONVENIENT ACCESS TO SCHOOLS

Property features AI

Finance

• Other: Tenants responsible for credit check, cable TV, electricity, janitorial service, and telephone; Pets allowed
• Financial info: Gross scheduled income: $40,200; Operating expenses: $1,900; One unit shows actual/pro forma rent of $1,650
• HOA & community: No association fee

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank sewer; Cable available
• Home design: Multifamily property with 1 building and 2 units; Resale condition; Zoned RM-2
• Construction: Block, concrete, and stucco construction; Shingle roof
• Exterior features: Rectangular lot; No listed exterior amenities

Interior

• Kitchen: Dishwasher; Range; Microwave (in one unit); Refrigerator; Freezer
• Bedrooms: Two 3-bedroom units
• Flooring: Tile flooring
• Bathrooms: Each unit has 2 full bathrooms (4 full bathrooms total)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single hung windows; Screened lanai/porch; Ceiling fans; Great room
• Laundry & utility: Washer and dryer in residence (in-unit laundry)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $29 ($345/yr) — positive. Per door: $14/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (11.6% below list).
• Recommended offer: $343k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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 (-7.0%/yr); 292 active listings in the ZIP; 4 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).
• At $3,448/mo this rent would consume 68% of the median local household income ($61k/yr) (locally 1142% 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

• It's been on market 132 days — a 12% lower offer ($343k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 25900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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 $343,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $531,450
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4909-4911 28th St SW	0.26mi	6/4.0	2,392 (+1%)	9mo	$550,000	$230	78
4921 Golfview Blvd	0.20mi	6/4.0	2,362 (0%)	22mo	$435,000	$184	72
4937/4939 Leonard Blvd S	0.10mi	6/4.0	2,238 (-5%)	18mo	$400,000	$179	71
2413-2415 Ansel Ave S	0.65mi	6/4.0	2,398 (+2%)	1mo	$460,000	$192	66
2229/2231 Armour Rd	0.34mi	6/4.0	2,351 (-0%)	20mo	$530,000	$225	66
2206-2208 Leda Ave S	0.48mi	6/4.0	2,370 (+0%)	13mo	$540,000	$228	66
2213/2215 Leda Ave S	0.44mi	6/4.0	2,330 (-1%)	18mo	$355,000	$152	63
2405/2407 Paul Ave S	0.40mi	6/4.0	2,352 (-0%)	22mo	$445,000	$189	62
4452-4454 Golfview Blvd	0.71mi	6/4.0	2,400 (+2%)	20mo	$550,000	$229	48
2220 - 2222 Keith Ave S	0.70mi	6/4.0	2,350 (-0%)	24mo	$540,000	$230	47

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.35×
• Total profit: $-71,420
• Equity at exit: $58,150

10-year hold

• IRR: -19.7%
• Equity multiple: 0.10×
• Total profit: $-98,676
• Equity at exit: $33,720

Cash invested: $109,200 (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 33973

• Home prices YoY: -3.4%
• Rents YoY: -7.0%
• Active inventory: 292
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,448 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$488 /mo · $5,850/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $29

Break-even live

Break-even rent $3,412

Max offer price $390,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,448
Total (2 units)			$3,448

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2216 Leda Ave S Lehigh Acres, FL	5.0	3.0	2750	$2,470	$0.90	16d	1	0.47mi
5214 25th St SW Lehigh Acres, FL	6.0	4.0	2316	$1,600	$0.69	23d	1	0.80mi
1133 Ichabod Ave Lehigh Acres, FL	6.0	4.0	2376	$2,100	$0.88	23d	1	1.22mi
10849 Timber Creek Dr Fort Myers, FL	5.0	4.5	3357	$4,000	$1.19	23d	1	1.40mi

Listing history 16 events

1. 2026-06-17
   days on market $390,000 Active 132 DOM
2. 2026-06-16
   days on market $390,000 Active 131 DOM
3. 2026-06-15
   days on market $390,000 Active 130 DOM
4. 2026-06-13
   days on market $390,000 Active 128 DOM
5. 2026-06-10
   days on market $390,000 Active 125 DOM
6. 2026-06-09
   days on market $390,000 Active 124 DOM
7. 2026-06-07
   days on market $390,000 Active 122 DOM
8. 2026-06-02
   days on market $390,000 Active 117 DOM
9. 2026-06-01
   days on market $390,000 Active 116 DOM
10. 2026-06-01
    days on market $390,000 Active 115 DOM
11. 2026-05-24
    listed $1,500
12. 2026-05-14
    price $390,000
13. 2026-02-25
    price $410,000
14. 2026-02-05
    listed $435,000 Active
15. 2026-01-03
    historical
16. 2025-01-04
    listed $450,000 Active

ⓘ 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 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: $41,376
• − Mortgage interest: −$21,846
• − Property taxes: −$5,850
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,310
• − Management: −$3,310
• − Depreciation: −$11,345
• Taxable loss: −$6,236
• Est. tax savings @ 24.0%: +$1,497
• After-tax cash flow: $1,841/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): 14,392
• Household income: $60,530
• Rent vs Own: 77.1% rent · 22.9% own
• Severe rent burden: 1142.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% Black 36% Two or more races 21% White 18%
• Hispanic origin (detail): Mexican 21% Puerto Rican 7% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 14% Russian 1% Estonian 1%
• Foreign-born: 23% · Canada, China
• Languages at home: 54% English-only · Spanish 31% French/Haitian/Cajun 13% 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: ▼ -8.43%
• Current HPI: 237.694
• Rent YoY: ▼ -6.99%
• 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

-99.7% since first listed

6 events — show timeline

• 2026-05-24 Listed for Rent $1,500 FGCMLS
• 2026-05-14 Price Changed $390,000 FORTMLS
• 2026-02-25 Price Changed $410,000 FORTMLS
• 2026-02-05 Listed $435,000 FORTMLS
• 2026-01-03 Listing Removed — FORTMLS
• 2025-01-04 Listed $450,000 FORTMLS