405-407 Chalet Ave S · Lehigh Acres, FL 33974

$465,900

6 bd · 4.0 ba · 2,386 sqft · Land · 88 Days on market

Built 2025 0.29 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 +8.7/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.4/10.0
• Rent growth +1.3/5.0

Listing remarks MLS

DUPLEX LOT IN THE FAST GROWING CITY OF "LEHIGH ACRES" JUST SOUTH OF GRANT BL & NEAR THE SR 82 HWY EXPANSION MAKING COMMUTE TO FORT MYERS, BEACHES, & SHOPPING A BREEZE!!! CANAL BEHIND PROPERTY ADDING TO PRIVACY! Great Time to invest in Land! Secure your lot to build a DUPLEX, LIVE IN ONE AND RENT THE OTHER FOR INCOME, OR BUILD A SINGLE FAMILY HOME ON THIS OVERSIZED LOT APPROX . 29 OF AN ACRE, or simply buy a real asset! WESTERN EXPOSURE ON THIS GEM. SELLER FINANCING IS AVAILABLE on SELECTED LOTS to make ownership easier. NO CREDIT, INCOME OR EMPLOYMENT VERIFICATION. BEST TERMS IN THE MARKET!! LOW MONTHLY PAYMENTS!!. NO PRE-PAYMENT PENALTY A written estimate with all the terms will be provided for the lot you select. Before you buy, give us a chance to earn your business. “GROUP HAS OTHER LOTS AVAILABLE, ¼ ACRE AND ½ ACRE LOTS. Lot List is available upon request. COMPARE PRICES AND TERMS BEFORE YOU BUY! SELLER WILL CONSIDER LOT PACKAGE PURCHASE!

Key facts

• Quartz countertops
• High-end lighting
• New construction

Tags

• NEW CONSTRUCTION
• OPEN LAYOUT
• IMPACT RESISTANCE GLASS DOORS
• PORCELAIN TILE
• QUARTZ COUNTERTOPS
• HIGH-END LIGHTING

Property features AI

Finance

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

Exterior

• Parking: Each unit has an attached 1-car garage
• Utilities: Well water; Septic tank; Cable not available
• Home design: Duplex / multi-family with 2 total units; New construction
• Construction: Block, concrete, and stucco construction; Shingle roof
• Exterior features: Room for a pool; Rectangular lot

Interior

• Kitchen: Each unit includes a dishwasher, microwave, range, and refrigerator
• Bedrooms: Two separate three-bedroom units (each unit has 3 bedrooms)
• Flooring: Tile
• Bathrooms: Each unit has two full bathrooms (total of 4 full bathrooms)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single-hung windows; Tile flooring
• Laundry & utility: Laundry in garage for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath land listed at $466k.

Deal economics

• At list price, monthly cash flow is $-393 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $396k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $297k (36.3% below list).
• Recommended offer: $297k (36.3% 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; 3 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 $2,970/mo this rent would consume 49% of the median local household income ($72k/yr) (locally 434% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $50k of equity ($3k loan paydown + $47k 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 ~$80k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($438k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $29k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $466k implies a 1626% 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 $296,986 (36.3% 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 88 days. Have you received any prior offers? Is the seller open to a 36% 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: 0.64% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.62%
• DSCR: 0.84
• GRM: 13.1

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: 21.0%
• Equity multiple: 2.68×
• Total profit: $219,730
• Equity at exit: $419,720

10-year hold

• IRR: 18.5%
• Equity multiple: 5.99×
• Total profit: $650,693
• Equity at exit: $905,141

Cash invested: $130,452 (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: 13.1×

Monthly cashflow live

• Estimated rent: $2,970 medium
• Mortgage (P&I): −$2,443
• Tax from tax record: −$102 /mo · $1,227/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $-393

Break-even live

Break-even rent $3,468

Max offer price $396,400

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: $116,475
• Closing costs: $13,977
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19972 Green Pasture Rd Lehigh Acres, FL	5.0	2.5	2959	$3,000	$1.01	21d	1	1.00mi
11613 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,700	$1.10	15d	1	1.19mi
11902 Savanna Lakes Blvd Lehigh Acres, FL	6.0	3.0	3041	$2,750	$0.90	15d	1	1.48mi

Listing history 35 events

1. 2026-06-17
   days on market $465,900 Active 88 DOM
2. 2026-06-16
   days on market $465,900 Active 87 DOM
3. 2026-06-15
   days on market $465,900 Active 86 DOM
4. 2026-06-13
   days on market $465,900 Active 84 DOM
5. 2026-06-10
   days on market $465,900 Active 81 DOM
6. 2026-06-09
   days on market $465,900 Active 80 DOM
7. 2026-06-07
   days on market $465,900 Active 78 DOM
8. 2026-06-03
   days on market $465,900 Active 74 DOM
9. 2026-06-02
   days on market $465,900 Active 73 DOM
10. 2026-06-01
    days on market $465,900 Active 72 DOM
11. 2026-06-01
    days on market $465,900 Active 71 DOM
12. 2026-05-17
    price $465,900
13. 2026-05-15
    price $479,900
14. 2026-05-11
    price $490,000
15. 2026-04-27
    price $494,000
16. 2026-03-21
    listed $495,000 Active
17. 2026-02-26
    historical
18. 2026-02-11
    price $491,000
19. 2026-01-21
    status Active
20. 2026-01-10
    status Pending
21. 2025-11-29
    price $478,900
22. 2025-11-17
    price $479,000
23. 2025-11-07
    price $489,000
24. 2025-10-09
    price $523,800
25. 2025-10-08
    price $523,900
26. 2025-10-02
    price $524,000
27. 2025-10-01
    price $525,000
28. 2025-07-16
    price $515,000
29. 2025-07-12
    price $525,000
30. 2025-07-09
    listed $555,000 Active
31. 2023-03-03
    soldstatus $27,000
32. 2021-06-14
    soldstatus $1,750,000
33. 2021-06-07
    soldstatus $17,500 Closed 999-char remark

    Show marketing remark (999 chars)

    DUPLEX LOT IN THE FAST GROWING CITY OF "LEHIGH ACRES" JUST SOUTH OF GRANT BL & NEAR THE SR 82 HWY EXPANSION MAKING COMMUTE TO FORT MYERS, BEACHES, & SHOPPING A BREEZE!!! CANAL BEHIND PROPERTY ADDING TO PRIVACY! Great Time to invest in Land! Secure your lot to build a DUPLEX, LIVE IN ONE AND RENT THE OTHER FOR INCOME, OR BUILD A SINGLE FAMILY HOME ON THIS OVERSIZED LOT APPROX . 29 OF AN ACRE, or simply buy a real asset! WESTERN EXPOSURE ON THIS GEM. SELLER FINANCING IS AVAILABLE on SELECTED LOTS to make ownership easier. NO CREDIT, INCOME OR EMPLOYMENT VERIFICATION. BEST TERMS IN THE MARKET!! LOW MONTHLY PAYMENTS!!. NO PRE-PAYMENT PENALTY A written estimate with all the terms will be provided for the lot you select. Before you buy, give us a chance to earn your business. “GROUP HAS OTHER LOTS AVAILABLE, ¼ ACRE AND ½ ACRE LOTS. Lot List is available upon request. COMPARE PRICES AND TERMS BEFORE YOU BUY! SELLER WILL CONSIDER LOT PACKAGE PURCHASE!

34. 2021-05-04
    status Pending 999-char remark

    Show marketing remark (999 chars)

    DUPLEX LOT IN THE FAST GROWING CITY OF "LEHIGH ACRES" JUST SOUTH OF GRANT BL & NEAR THE SR 82 HWY EXPANSION MAKING COMMUTE TO FORT MYERS, BEACHES, & SHOPPING A BREEZE!!! CANAL BEHIND PROPERTY ADDING TO PRIVACY! Great Time to invest in Land! Secure your lot to build a DUPLEX, LIVE IN ONE AND RENT THE OTHER FOR INCOME, OR BUILD A SINGLE FAMILY HOME ON THIS OVERSIZED LOT APPROX . 29 OF AN ACRE, or simply buy a real asset! WESTERN EXPOSURE ON THIS GEM. SELLER FINANCING IS AVAILABLE on SELECTED LOTS to make ownership easier. NO CREDIT, INCOME OR EMPLOYMENT VERIFICATION. BEST TERMS IN THE MARKET!! LOW MONTHLY PAYMENTS!!. NO PRE-PAYMENT PENALTY A written estimate with all the terms will be provided for the lot you select. Before you buy, give us a chance to earn your business. “GROUP HAS OTHER LOTS AVAILABLE, ¼ ACRE AND ½ ACRE LOTS. Lot List is available upon request. COMPARE PRICES AND TERMS BEFORE YOU BUY! SELLER WILL CONSIDER LOT PACKAGE PURCHASE!

35. 2021-04-29
    listed $17,900 Active 999-char remark

    Show marketing remark (999 chars)

    DUPLEX LOT IN THE FAST GROWING CITY OF "LEHIGH ACRES" JUST SOUTH OF GRANT BL & NEAR THE SR 82 HWY EXPANSION MAKING COMMUTE TO FORT MYERS, BEACHES, & SHOPPING A BREEZE!!! CANAL BEHIND PROPERTY ADDING TO PRIVACY! Great Time to invest in Land! Secure your lot to build a DUPLEX, LIVE IN ONE AND RENT THE OTHER FOR INCOME, OR BUILD A SINGLE FAMILY HOME ON THIS OVERSIZED LOT APPROX . 29 OF AN ACRE, or simply buy a real asset! WESTERN EXPOSURE ON THIS GEM. SELLER FINANCING IS AVAILABLE on SELECTED LOTS to make ownership easier. NO CREDIT, INCOME OR EMPLOYMENT VERIFICATION. BEST TERMS IN THE MARKET!! LOW MONTHLY PAYMENTS!!. NO PRE-PAYMENT PENALTY A written estimate with all the terms will be provided for the lot you select. Before you buy, give us a chance to earn your business. “GROUP HAS OTHER LOTS AVAILABLE, ¼ ACRE AND ½ ACRE LOTS. Lot List is available upon request. COMPARE PRICES AND TERMS BEFORE YOU BUY! SELLER WILL CONSIDER LOT PACKAGE PURCHASE!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,227 · $102/mo
• Projected year-2 tax: $3,867 · $322/mo
• Expected delta: +$2,640/yr (+$220/mo · 215.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 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: $35,638
• − Mortgage interest: −$26,098
• − Property taxes: −$1,227
• − Insurance: −$2,330
• − Repairs & maintenance: −$2,851
• − Management: −$2,851
• − Depreciation: −$13,553
• Taxable loss: −$13,272
• Est. tax savings @ 24.0%: +$3,185
• After-tax cash flow: $-1,536/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

+2502.8% since first listed

24 events — show timeline

• 2026-05-17 Price Changed $465,900 FORTMLS
• 2026-05-15 Price Changed $479,900 FORTMLS
• 2026-05-11 Price Changed $490,000 FORTMLS
• 2026-04-27 Price Changed $494,000 FORTMLS
• 2026-03-21 Listed $495,000 FORTMLS
• 2026-02-26 Listing Removed — FORTMLS
• 2026-02-11 Price Changed $491,000 FORTMLS
• 2026-01-21 Relisted — FORTMLS
• 2026-01-10 Pending — FORTMLS
• 2025-11-29 Price Changed $478,900 FORTMLS
• 2025-11-17 Price Changed $479,000 FORTMLS
• 2025-11-07 Price Changed $489,000 FORTMLS
• 2025-10-09 Price Changed $523,800 FORTMLS
• 2025-10-08 Price Changed $523,900 FORTMLS
• 2025-10-02 Price Changed $524,000 FORTMLS
• 2025-10-01 Price Changed $525,000 FORTMLS
• 2025-07-16 Price Changed $515,000 FORTMLS
• 2025-07-12 Price Changed $525,000 FORTMLS
• 2025-07-09 Listed $555,000 FORTMLS
• 2023-03-03 Sold (Public Records) $27,000 Public Records
• 2021-06-14 Sold (Public Records) $1,750,000 Public Records
• 2021-06-07 Sold (MLS) $17,500 FORTMLS
• 2021-05-04 Pending — FORTMLS
• 2021-04-29 Listed $17,900 FORTMLS

Property tax history

+27.5%/yr

Latest (2025): $1,227 · +165.3% YoY. Source: county tax records.