938 Bolivia Dr · Lehigh Acres, FL 33974

$324,900

3 bd · 2.0 ba · 1,500 sqft · Land · 46 Days on market

Built 2026 0.26 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
• ARV discount +7.5/15.0
• Cash flow +5.7/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +1.1/10.0
• DSCR +0.1/10.0

Listing remarks

* HELP TOWARDS CLOSING COSTS AVAILABLE * * * READY TO MOVE IN!!! Spacious open floor plan with 3 bedrooms + Den, 2-full bathrooms and 2 cars garage, home spans 2,005 sq ft. Hurricane impact windows and doors. Home features a state-of-the-art kitchen equipped with stainless steel appliances, high-quality cabinetry, quartz countertops and backsplash, and a waterfall edge island. The master suite offers comfort with the spacious master bathroom providing an elegant retreat with a double sink vanity and a frameless glass shower. Imported oversize porcelain flooring, dual walking closets and lofty ceilings flow throughout, elevating the modern feel of the property. Blending modern design with

Key facts

• Quartz countertops
• 0.26 acre lot
• 2 garage spots

Tags

• HURRICANE IMPACT WINDOWS
• STATE-OF-THE-ART KITCHEN
• STAINLESS STEEL APPLIANCES
• HIGH-QUALITY CABINETRY
• QUARTZ COUNTERTOPS
• WATERFALL EDGE ISLAND

Property features AI

Finance

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

Exterior

• Parking: Attached garage (2 spaces); Attached carport (2 spaces); Four covered parking spaces total
• Security: Smoke detector(s); Security/high impact doors
• Utilities: Cable available; Septic tank; Private well
• Home design: Single-story home; New construction; Entry level: 1; Faces east; RS-1 zoning
• Construction: Block, concrete, and stucco construction; Shingle roof
• Exterior features: Patio; Security/high impact doors; Paved road access; Oversized lot; West exposure

Interior

• Kitchen: Dishwasher; Electric cooktop; Range; Microwave; Refrigerator; Freezer; Water purifier; Kitchen island; Pantry
• Bedrooms: Three bedrooms; Den (additional room)
• Flooring: Tile flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single hung and impact glass windows; French doors; Unfurnished; Dual sinks; Family/Dining room; French door(s)/Atrium door(s); Kitchen island; Living/Dining room; Custom mirrors; Pantry; Shower only (separate shower); Walk-in closet(s); Bedroom on main level
• Laundry & utility: Washer/Dryer not specified (appliances list did not include washer or dryer)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $325k.

Deal economics

• At list price, monthly cash flow is $-670 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (38.6% below list).
• Recommended offer: $199k (38.6% 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); 2476 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $35k of equity ($2k loan paydown + $32k 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 ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $325k implies a 785% 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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,400 (38.6% 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 46 days. Have you received any prior offers? Is the seller open to a 39% 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: 0.61% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.84%
• DSCR: 0.61
• GRM: 13.6

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: 17.4%
• Equity multiple: 2.41×
• Total profit: $128,460
• Equity at exit: $292,696

10-year hold

• IRR: 15.9%
• Equity multiple: 5.41×
• Total profit: $401,449
• Equity at exit: $631,209

Cash invested: $90,972 (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: 2476
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,994 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,874/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-670

Break-even live

Break-even rent $2,842

Max offer price $227,943

Occupancy floor —

Sensitivity live

Price	-10% $-446	-5% $-558	+0% $-670	+5% $-782	+10% $-895
Rent	-10% $-828	-5% $-749	+0% $-670	+5% $-591	+10% $-513
Rate	-1.0pp $-506	-0.5pp $-587	base $-670	+0.5pp $-754	+1.0pp $-840

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
730 Holmes Ave Unit 728 Lehigh Acres, FL	3.0	2.0	1080	$1,500	$1.39	13d	1	0.25mi
756 Holmes Ave Lehigh Acres, FL	3.0	2.0	1100	$1,450	$1.32	12d	1	0.34mi
862 Charles Sise St E Lehigh Acres, FL	3.0	2.0	1582	$2,664	$1.68	25d	1	0.34mi
908 Winters St E Lehigh Acres, FL	3.0	2.0	1639	$2,200	$1.34	12d	1	0.36mi
761 Kirkman Ave S Lehigh Acres, FL	3.0	2.0	1188	$1,900	$1.60	25d	1	0.43mi
930 Ainsworth St W Lehigh Acres, FL	3.0	2.0	1165	$1,395	$1.20	18d	1	0.47mi
928 Milwaukee Blvd Lehigh Acres, FL	4.0	2.0	1719	$1,990	$1.16	25d	1	0.49mi
708 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	23d	1	0.49mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	23d	1	0.50mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	5d	1	0.50mi
710 Godwid Ave S Lehigh Acres, FL	3.0	2.0	1758	$2,150	$1.22	5d	1	0.50mi
874 Apartment St Lehigh Acres, FL	3.0	2.0	1200	$1,750	$1.46	25d	1	0.51mi
927 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	25d	1	0.56mi
925 Chenault St Lehigh Acres, FL	3.0	2.0	1132	$1,700	$1.50	25d	1	0.56mi
886 Milwaukee Blvd Lehigh Acres, FL	3.0	2.0	1205	$1,900	$1.58	25d	1	0.60mi
907 Chenault St Lehigh Acres, FL	2.0	4.0	1200	$1,250	$1.04	16d	1	0.60mi
819 Eisenhower Blvd Unit 819 Lehigh Acres, FL	3.0	2.0	1390	$1,650	$1.19	25d	1	0.62mi
762 Gallo Ave S #764 Lehigh Acres, FL	3.0	2.0	1127	$1,195	$1.06	23d	1	0.62mi
954 Pilgrim St E Lehigh Acres, FL	3.0	2.0	1246	$1,625	$1.30	4d	1	0.64mi
827 Eisenhower Blvd Lehigh Acres, FL	3.0	2.5	1640	$1,780	$1.09	13d	1	0.65mi
708 Genoa Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,650	$1.56	5d	1	0.72mi
760 Festival Ave S Lehigh Acres, FL	3.0	2.0	1650	$2,000	$1.21	25d	1	0.79mi
541 Hawthorne Ave S Lehigh Acres, FL	3.0	2.0	1634	$1,921	$1.18	5d	1	0.82mi
538 Flamingo Ave S Lehigh Acres, FL	3.0	2.0	1272	$1,791	$1.41	5d	1	0.83mi
538 Cypress Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	5d	1	0.85mi
684 Thomas Sherwin Ave S Lehigh Acres, FL	3.0	2.0	1288	$1,695	$1.32	5d	1	0.92mi
556 Sherwood Ave S Lehigh Acres, FL	3.0	2.0	1582	$2,175	$1.37	25d	1	0.99mi
763 Puccini Ave S Lehigh Acres, FL	3.0	2.0	1055	$1,699	$1.61	5d	1	1.00mi
828 Genoa Ave S Lehigh Acres, FL	4.0	2.5	1632	$2,400	$1.47	25d	1	1.01mi
728 Crestline Ave S Lehigh Acres, FL	4.0	3.0	1904	$2,000	$1.05	23d	1	1.02mi
604 Thomas Sherwin Ave S Lehigh Acres, FL	4.0	2.0	1493	$2,200	$1.47	5d	1	1.03mi
940 Sterling St E Lehigh Acres, FL	4.0	2.0	1389	$1,750	$1.26	5d	1	1.03mi
915 Graystone Ave Lehigh Acres, FL	3.0	2.0	1115	$1,525	$1.37	16d	1	1.06mi
826 Dawhert Ave S Lehigh Acres, FL	4.0	2.0	1365	$1,750	$1.28	5d	1	1.07mi
530 Kilgour Ave Lehigh Acres, FL	3.0	2.0	2214	$1,795	$0.81	5d	1	1.08mi
814 Crystal Ave S Lehigh Acres, FL	3.0	2.0	1865	$1,815	$0.97	25d	1	1.09mi
1147 Antonio St E Lehigh Acres, FL	3.0	2.0	1713	$2,300	$1.34	3d	1	1.10mi
970 Lakeside Dr Lehigh Acres, FL	3.0	2.0	1325	$1,800	$1.36	21d	1	1.13mi
715 Bering Ave S Lehigh Acres, FL	3.0	2.0	1835	$1,895	$1.03	23d	1	1.13mi
847 Genoa Ave Lehigh Acres, FL	3.0	2.0	1600	$2,000	$1.25	5d	1	1.14mi

Listing history 7 events

1. 2026-04-28
   status Pending
2. 2026-04-09
   price $324,900
3. 2026-03-13
   listed $325,000 Active
4. 2025-10-03
   soldstatus $36,700
5. 2021-10-19
   soldstatus $9,000
6. 2005-06-02
   soldstatus $25,200
7. 1987-07-09
   soldstatus $8,100

ⓘ 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 9/10 Extreme 6 d/yr ≥109°F today · 22 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: $23,928
• − Mortgage interest: −$18,199
• − Property taxes: −$4,874
• − Insurance: −$1,624
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − Depreciation: −$9,452
• Taxable loss: −$14,050
• Est. tax savings @ 24.0%: +$3,372
• After-tax cash flow: $-4,669/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

+3911.1% since first listed

7 events — show timeline

• 2026-04-28 Pending — FORTMLS
• 2026-04-09 Price Changed $324,900 FORTMLS
• 2026-03-13 Listed $325,000 FORTMLS
• 2025-10-03 Sold (Public Records) $36,700 Public Records
• 2021-10-19 Sold (Public Records) $9,000 Public Records
• 2005-06-02 Sold (Public Records) $25,200 Public Records
• 1987-07-09 Sold (Public Records) $8,100 Public Records

Property tax history

+13.8%/yr

Latest (2025): $437 · +16.8% YoY. Source: county tax records.