824 Carpenter St E · Lehigh Acres, FL 33974

$259,900

3 bd · 2.0 ba · 1,258 sqft · Land · 51 Days on market

Built 2026 10,454 sqft 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 +9.0/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0

Listing remarks MLS

Great location to build your next new dream construction project. Nestled in a quiet neighborhood in the growing area of Lehigh Acres close to STATE ROAD 82 towards Ft Myers and BELL BLVD towards DOWNTOWN LEHIGH ACRES. Minutes away from local schools, grocery stores, parks, entertainment, I-75 and much more! Take a drive and see for yourself why this vacant lot will be yours for your next new construction project!

Key facts

• Quartz countertops
• Gourmet kitchen
• 0.24 acre lot

Tags

• GOURMET KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• SOFT TOUCH CABINET DOORS
• GLASS TILE BACKSPLASH
• FLOOR TO CEILING PANTRY

Property features AI

Finance

• Other: Lot is rectangular and public maintained road (paved); Lot exposures to the west; Zoning: RS-1
• Financial info: Pets allowed
• HOA & community: No association fee; Non-gated community; Street lights

Exterior

• Parking: Attached garage with 1 covered space; Driveway parking; Paved parking; Garage door opener
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Cable available; High-speed internet available
• Home design: Single-story home; New construction; East-facing entry
• Construction: Built with block, concrete and stucco; Shingle roof; New construction
• Exterior features: Security/high impact doors; Room for pool; Open porch; Lanai (screened porch); Smoke detectors

Interior

• Kitchen: Range; Self-cleaning oven; Microwave; Dishwasher; Refrigerator; Icemaker; Refrigerator with ice maker; Pantry; Breakfast bar; Eat-in kitchen
• Bedrooms: Master bedroom; Additional bedrooms on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Tub/shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Impact glass windows; Breakfast bar; Built-in features; Eat-in kitchen; High ceilings; Living/dining room; Custom mirrors; Pantry; Sitting area in primary; Tub/shower; Vaulted ceilings; Walk-in closets; Split bedrooms; Unfurnished
• Laundry & utility: Washer and dryer included; Inside laundry; Water softener; Water purifier; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $260k.

Deal economics

• At list price, monthly cash flow is $-204 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (22.5% below list).
• Recommended offer: $201k (22.5% 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; 40 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).
• This rent runs 33% 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 $28k of equity ($2k loan paydown + $26k 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 ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $22k; list at $260k implies a 1081% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,472 (22.5% 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 51 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.37%
• DSCR: 0.85
• GRM: 10.8

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: 2.69×
• Total profit: $122,651
• Equity at exit: $234,139

10-year hold

• IRR: 18.4%
• Equity multiple: 5.96×
• Total profit: $360,917
• Equity at exit: $504,929

Cash invested: $72,772 (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: 10.8×

Monthly cashflow live

• Estimated rent: $2,015 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-204

Break-even live

Break-even rent $2,274

Max offer price $230,311

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
825 Carbon St E Lehigh Acres, FL	3.0	2.0	1582	$2,300	$1.45	23d	1	0.01mi
388 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,780	$1.48	23d	1	0.15mi
350 Limerick Ave S Lehigh Acres, FL	3.0	2.0	1199	$1,800	$1.50	3d	1	0.20mi
455 Bell Blvd Unit 1 Lehigh Acres, FL	3.0	2.0	1142	$1,600	$1.40	23d	1	0.24mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	14d	1	0.25mi
346 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1185	$1,495	$1.26	3d	1	0.25mi
759 Cane St E Lehigh Acres, FL	3.0	2.0	1169	$1,950	$1.67	3d	1	0.27mi
333 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1114	$1,300	$1.17	3d	1	0.29mi
750 Cane St E Lehigh Acres, FL	4.0	3.0	1537	$2,800	$1.82	3d	1	0.31mi
508 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1200	$1,800	$1.50	23d	1	0.46mi
727 Cane St E Lehigh Acres, FL	3.0	2.0	1582	$2,000	$1.26	23d	1	0.50mi
382 McArthur Blvd Lehigh Acres, FL	3.0	2.0	1055	$2,200	$2.09	23d	1	0.53mi
459 Lockport Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	23d	1	0.55mi
713 Cardinal St E Lehigh Acres, FL	3.0	2.0	1100	$1,635	$1.49	3d	1	0.59mi
230 E Malden Ave S Lehigh Acres, FL	4.0	2.0	1833	$1,875	$1.02	23d	1	0.64mi
720 Chavers St Lehigh Acres, FL	3.0	2.0	1547	$2,200	$1.42	23d	1	0.66mi
219 Beckley Dr Lehigh Acres, FL	3.0	2.5	1548	$1,890	$1.22	16d	1	0.66mi
404 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	23d	1	0.76mi
406 Chalet Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,850	$1.54	23d	1	0.76mi
573 Bell Blvd S Lehigh Acres, FL	3.0	2.0	1218	$1,900	$1.56	14d	1	0.76mi
947 Grant Blvd Lehigh Acres, FL	4.0	2.0	1650	$2,145	$1.30	23d	1	0.79mi
718 Sunrise Blvd Lehigh Acres, FL	3.0	2.0	1100	$1,610	$1.46	23d	1	0.85mi
397 Carrillon Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,550	$1.29	3d	1	0.98mi
541 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1634	$1,921	$1.18	3d	1	0.99mi
940 Sterling St E Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	3d	1	1.00mi
541 Chalet Ave S Lehigh Acres, FL	4.0	3.0	1650	$2,400	$1.45	23d	1	1.02mi
604 Thomas Sherwin Ave S Lehigh Acres, FL	4.0	2.0	1493	$2,200	$1.47	3d	1	1.02mi
270 Silent Lake Dr Lehigh Acres, FL	4.0	2.0	1800	$1,895	$1.05	11d	1	1.02mi
940 Belmont St E Lehigh Acres, FL	4.0	2.0	1838	$2,850	$1.55	23d	1	1.04mi
374 Compese Ave S Lehigh Acres, FL	3.0	2.0	1200	$1,750	$1.46	16d	1	1.05mi
970 Lakeside Dr Lehigh Acres, FL	3.0	2.0	1325	$1,800	$1.36	19d	1	1.11mi
912 Anthony St E Lehigh Acres, FL	3.0	2.5	1548	$1,890	$1.22	16d	1	1.18mi
684 Thomas Sherwin Ave S Lehigh Acres, FL	3.0	2.0	1288	$1,695	$1.32	3d	1	1.21mi
515 Croydon Ave S Lehigh Acres, FL	3.0	3.0	1253	$2,200	$1.76	3d	1	1.23mi
886 Milwaukee Blvd Lehigh Acres, FL	3.0	2.0	1205	$1,900	$1.58	23d	1	1.23mi
567 Charwood Ave S Lehigh Acres, FL	3.0	2.0	1564	$1,900	$1.21	14d	1	1.23mi
546 Whispering Wind Bnd Lehigh Acres, FL	3.0	2.0	1437	$1,950	$1.36	2d	1	1.24mi
510 Caywood Ave S Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	23d	1	1.28mi
719 Center Lake St Lehigh Acres, FL	3.0	2.0	1616	$1,750	$1.08	23d	1	1.30mi
538 Flamingo Ave S Lehigh Acres, FL	3.0	2.0	1272	$1,791	$1.41	3d	1	1.31mi

Listing history 6 events

1. 2026-05-20
   price $259,900
2. 2026-04-07
   listed $264,900 Active
3. 2025-02-06
   soldstatus $22,000
4. 2025-01-31
   soldstatus $22,000 Closed 417-char remark

   Show marketing remark (417 chars)

   Great location to build your next new dream construction project. Nestled in a quiet neighborhood in the growing area of Lehigh Acres close to STATE ROAD 82 towards Ft Myers and BELL BLVD towards DOWNTOWN LEHIGH ACRES. Minutes away from local schools, grocery stores, parks, entertainment, I-75 and much more! Take a drive and see for yourself why this vacant lot will be yours for your next new construction project!

5. 2025-01-28
   status Pending 417-char remark

   Show marketing remark (417 chars)

   Great location to build your next new dream construction project. Nestled in a quiet neighborhood in the growing area of Lehigh Acres close to STATE ROAD 82 towards Ft Myers and BELL BLVD towards DOWNTOWN LEHIGH ACRES. Minutes away from local schools, grocery stores, parks, entertainment, I-75 and much more! Take a drive and see for yourself why this vacant lot will be yours for your next new construction project!

6. 2025-01-13
   listed $22,000 Active 417-char remark

   Show marketing remark (417 chars)

   Great location to build your next new dream construction project. Nestled in a quiet neighborhood in the growing area of Lehigh Acres close to STATE ROAD 82 towards Ft Myers and BELL BLVD towards DOWNTOWN LEHIGH ACRES. Minutes away from local schools, grocery stores, parks, entertainment, I-75 and much more! Take a drive and see for yourself why this vacant lot will be yours for your next new construction project!

ⓘ 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 ≥108°F today · 28 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: $24,177
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$7,561
• Taxable loss: −$7,009
• Est. tax savings @ 24.0%: +$1,682
• After-tax cash flow: $-772/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

+1081.4% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $259,900 FORTMLS
• 2026-04-07 Listed $264,900 FORTMLS
• 2025-02-06 Sold (Public Records) $22,000 Public Records
• 2025-01-31 Sold (MLS) $22,000 FORTMLS
• 2025-01-28 Pending — FORTMLS
• 2025-01-13 Listed $22,000 FORTMLS

Property tax history

+10.1%/yr

Latest (2025): $385 · +12.1% YoY. Source: county tax records.