535-537 Ladd St · Lehigh Acres, FL 33974

$524,000

6 bd · 4.0 ba · 2,396 sqft · MultiFamily · 2 Days on market

Built 2026 0.29 ac lot Est $537k · at est.

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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 +8.6/15.0
• Cash flow +7.1/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.3/10.0
• Rent growth +1.3/5.0

Multi-family units

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

Listing remarks

One or more photo(s) has been virtually staged, AI generated or rendered. Here's a revised version with your requested additions: Situated on an OVERSIZED LOT with ACCESS TO THE BACK OF THE PROPERTY FOR EXTRA POTENTIAL INCOME, this exceptional opportunity offers a brand-new 2025 duplex in the heart of Lehigh Acres with strong rental potential and modern, low-maintenance construction. One or more photo(s) has been virtually staged, AI generated, or rendered. Projected to generate up to $50,000 in annual rental income, this oversized duplex stands out as one of the largest in the area, making it an ideal addition to an investment portfolio or an excellent option for an owner-occupant looki

Key facts

• 0.29 acre lot
• 2 parking spots
• Built 2026

Property features AI

Finance

• Other: Property contains 2 units (duplex); Lot measures approximately 0.2857 acres with central irrigation
• HOA & community: No HOA amenities listed; Community type: See remarks

Exterior

• Utilities: Central water; Septic sewer; Cable available
• Home design: Duplex residential income property; Located in Lehigh Acres; Zoned RM-2; Oversize, regular lot
• Construction: Concrete block construction; Built in 2026
• Exterior features: Automatic sprinkler system; Impact-resistant windows; Stucco exterior; Shingle roof

Interior

• Flooring: Tile
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $524k.

Deal economics

• At list price, monthly cash flow is $-739 ($-9k/yr) — negative. Per door: $-370/mo.
• To cash-flow at today's rent, offer at most $417k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $365k (30.4% below list).
• Recommended offer: $365k (30.4% 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; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,648/mo this rent would consume 61% 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 $56k of equity ($4k loan paydown + $52k 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 ~$90k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

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

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $364,800 (30.4% 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. 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. 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 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: 0.70% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.05%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $536,704
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
558-560 Nimitz Blvd	0.11mi	6/4.0	2,364 (-1%)	15mo	$529,900	$224	80

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: 19.2%
• Equity multiple: 2.55×
• Total profit: $227,660
• Equity at exit: $472,061

10-year hold

• IRR: 17.2%
• Equity multiple: 5.69×
• Total profit: $688,419
• Equity at exit: $1,018,017

Cash invested: $146,720 (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: 23.9×

Monthly cashflow live

• Estimated rent: $3,648 high
• Mortgage (P&I): −$2,748
• Tax est. 1.5%: −$655 /mo · $7,860/yr
• Insurance: −$218
• HOA: −$0
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $-739

Break-even live

Break-even rent $4,584

Max offer price $417,018

Occupancy floor —

Sensitivity live

Price	-10% $-377	-5% $-558	+0% $-739	+5% $-920	+10% $-1,101
Rent	-10% $-1,028	-5% $-883	+0% $-739	+5% $-595	+10% $-451
Rate	-1.0pp $-475	-0.5pp $-606	base $-739	+0.5pp $-875	+1.0pp $-1,013

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,648
Total (2 units)			$3,648

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: $131,000
• Closing costs: $15,720
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $524,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $524,000 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 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: $43,776
• − Mortgage interest: −$29,352
• − Property taxes: −$7,860
• − Insurance: −$2,620
• − Repairs & maintenance: −$3,502
• − Management: −$3,502
• − Depreciation: −$15,244
• Taxable loss: −$18,304
• Est. tax savings @ 24.0%: +$4,393
• After-tax cash flow: $-4,479/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

1 event — show timeline

• 2026-06-09 Listed $524,000 NAPLESMLS