2618 24th St W · Lehigh Acres, FL 33971

$268,990

3 bd · 2.0 ba · 1,240 sqft · Land · 69 Days on market

Built 2026 0.25 ac lot

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Why this score? — see what drove the F 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).

• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.8/10.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime opportunity to own a corner residential lot in one of Lehigh Acres’ most desirable and fast-growing areas. Surrounded by new home construction, this property offers excellent potential whether you’re planning to build your dream home or invest for the future. Conveniently located close to shopping, dining, and entertainment, with easy access to major roadways and just a short drive to Southwest Florida International Airport. Secure your place in this thriving community today!

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 2026

Property features AI

Finance

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

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Security/high impact doors
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story; Entry level 1; Faces south; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof; Built using concrete/block methods
• Exterior features: Open porch; Security/high impact doors; Corner lot; Rectangular lot; North exposure

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Split bedroom layout
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: High ceilings; Family/Dining room; Living/Dining room; Pantry; Cable TV; Walk-in closet(s); Split bedrooms; Unfurnished; Single hung windows; Impact glass windows
• Laundry & utility: Washer; Dryer; Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $269k.

Deal economics

• At list price, monthly cash flow is $-308 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (27.0% below list).
• Recommended offer: $196k (27.0% 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+, amenities F.
• 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.
• Zoned schools: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents falling (-4.7%/yr); 1347 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 30% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 69 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $269k implies a 1245% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,375 (27.0% 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 69 days. Have you received any prior offers? Is the seller open to a 27% 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: 0.73% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.90%
• DSCR: 0.78
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -28.0%
• Equity multiple: 0.09×
• Total profit: $-68,902
• Equity at exit: $40,107

10-year hold

• IRR: -43.3%
• Equity multiple: -0.43×
• Total profit: $-107,343
• Equity at exit: $23,257

Cash invested: $75,317 (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 33971

• Home prices YoY: -8.0%
• Rents YoY: -4.7%
• Active inventory: 1347
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,964 high
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-308

Break-even live

Break-even rent $2,353

Max offer price $224,485

Occupancy floor —

Sensitivity live

Price	-10% $-122	-5% $-215	+0% $-308	+5% $-401	+10% $-493
Rent	-10% $-463	-5% $-385	+0% $-308	+5% $-230	+10% $-152
Rate	-1.0pp $-172	-0.5pp $-239	base $-308	+0.5pp $-377	+1.0pp $-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: $67,248
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2513 22nd St W Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	23d	1	0.25mi
2513 22nd St W Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	16d	1	0.25mi
3016 25th St W Lehigh Acres, FL	3.0	2.0	1100	$1,555	$1.41	25d	1	0.64mi
2611 Carol Pl Lehigh Acres, FL	3.0	2.0	1406	$1,895	$1.35	12d	1	0.67mi
2918 16th St Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	23d	1	0.72mi
1711 W 12th St Lehigh Acres, FL	3.0	2.0	1400	$1,999	$1.43	21d	1	0.86mi
1711 W 12th St Lehigh Acres, FL	3.0	2.0	1400	$1,999	$1.43	21d	1	0.86mi
1407 W 10th St Lehigh Acres, FL	3.0	2.0	1407	$1,700	$1.21	25d	1	0.99mi
2610 40th St W Lehigh Acres, FL	3.0	2.0	1472	$2,000	$1.36	25d	1	1.06mi
2916 9th St W Lehigh Acres, FL	3.0	2.0	1053	$1,750	$1.66	25d	1	1.07mi
1418 W 12th St Lehigh Acres, FL	2.0	2.0	1113	$1,295	$1.16	23d	1	1.08mi
2612 7th St W Lehigh Acres, FL	3.0	2.0	1492	$2,295	$1.54	25d	1	1.09mi
8350 Tortoise Isle Ct Lehigh Acres, FL	3.0	2.0	1478	$1,595	$1.08	5d	1	1.13mi
3005 40th St W Lehigh Acres, FL	3.0	2.0	1272	$2,000	$1.57	5d	1	1.18mi
3109 10th St W Lehigh Acres, FL	3.0	2.0	1472	$1,950	$1.32	25d	1	1.20mi
3202 37th St W Lehigh Acres, FL	3.0	2.5	1412	$1,705	$1.21	15d	1	1.21mi
3208 9th St W Lehigh Acres, FL	3.0	2.0	1423	$1,916	$1.35	5d	1	1.28mi
3310 11th St W Lehigh Acres, FL	3.0	2.5	1354	$2,000	$1.48	5d	1	1.29mi
3313 35th St W Lehigh Acres, FL	3.0	2.0	1458	$1,950	$1.34	25d	1	1.29mi
3109 8th St SW Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	23d	1	1.29mi
3312 11th St W Lehigh Acres, FL	3.0	2.5	1354	$2,000	$1.48	5d	1	1.30mi
3310 9th St W Lehigh Acres, FL	3.0	2.0	1488	$2,300	$1.55	18d	1	1.37mi
1006 W 12th St Unit B Lehigh Acres, FL	3.0	2.0	1400	$1,800	$1.29	25d	1	1.47mi
1000 W 12th St #1002 Lehigh Acres, FL	2.0	2.0	964	$1,225	$1.27	23d	1	1.50mi

Listing history 19 events

1. 2026-06-22
   days on market $268,990 Active 69 DOM
2. 2026-06-17
   pricedays on market $268,990 Active 65 DOM
3. 2026-06-16
   days on market $269,990 Active 64 DOM
4. 2026-06-15
   days on market $269,990 Active 63 DOM
5. 2026-06-13
   days on market $269,990 Active 61 DOM
6. 2026-06-10
   pricedays on market $269,990 Active 58 DOM
7. 2026-06-09
   days on market $271,990 Active 57 DOM
8. 2026-06-07
   days on market $271,990 Active 55 DOM
9. 2026-06-03
   days on market $271,990 Active 51 DOM
10. 2026-06-02
    pricedays on market $271,990 Active 50 DOM
11. 2026-06-01
    days on market $272,990 Active 49 DOM
12. 2026-05-31
    days on market $272,990 Active 48 DOM
13. 2026-05-21
    price $274,990
14. 2026-05-13
    price $279,990
15. 2026-04-13
    listed $289,990 Active
16. 2025-12-12
    soldstatus $20,000
17. 2025-12-11
    soldstatus $20,000 Closed 498-char remark

    Show marketing remark (498 chars)

    Prime opportunity to own a corner residential lot in one of Lehigh Acres’ most desirable and fast-growing areas. Surrounded by new home construction, this property offers excellent potential whether you’re planning to build your dream home or invest for the future. Conveniently located close to shopping, dining, and entertainment, with easy access to major roadways and just a short drive to Southwest Florida International Airport. Secure your place in this thriving community today!

18. 2025-11-08
    status Pending 498-char remark

    Show marketing remark (498 chars)

    Prime opportunity to own a corner residential lot in one of Lehigh Acres’ most desirable and fast-growing areas. Surrounded by new home construction, this property offers excellent potential whether you’re planning to build your dream home or invest for the future. Conveniently located close to shopping, dining, and entertainment, with easy access to major roadways and just a short drive to Southwest Florida International Airport. Secure your place in this thriving community today!

19. 2025-09-06
    listed $28,900 Active 498-char remark

    Show marketing remark (498 chars)

    Prime opportunity to own a corner residential lot in one of Lehigh Acres’ most desirable and fast-growing areas. Surrounded by new home construction, this property offers excellent potential whether you’re planning to build your dream home or invest for the future. Conveniently located close to shopping, dining, and entertainment, with easy access to major roadways and just a short drive to Southwest Florida International Airport. Secure your place in this thriving community today!

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $23,565
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − Depreciation: −$7,825
• Taxable loss: −$8,478
• Est. tax savings @ 24.0%: +$2,035
• After-tax cash flow: $-1,656/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): 30,790
• Household income: $77,723
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 587.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 49% Two or more races 32% White 26% Black 19% Asian 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 13% Cuban 14% Dominican 2%
• Common ancestry: Hispanic 7% Estonian 1% Romanian 1%
• Foreign-born: 31% · Canada, Vietnam, Guatemala
• Languages at home: 46% English-only · Spanish 41% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -27.68%
• Current HPI: 317.7147
• Rent YoY: ▼ -4.69%
• 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

+851.5% since first listed

7 events — show timeline

• 2026-05-21 Price Changed $274,990 FORTMLS
• 2026-05-13 Price Changed $279,990 FORTMLS
• 2026-04-13 Listed $289,990 FORTMLS
• 2025-12-12 Sold (Public Records) $20,000 Public Records
• 2025-12-11 Sold (MLS) $20,000 FORTMLS
• 2025-11-08 Pending — FORTMLS
• 2025-09-06 Listed $28,900 FORTMLS

Property tax history

+11.9%/yr

Latest (2025): $413 · +11.9% YoY. Source: county tax records.