3121 24th St SW · Lehigh Acres, FL 33976

$275,000

2 bd · 2.0 ba · 828 sqft · Land · 142 Days on market

Built 2026 0.25 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 +7.0/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0

Listing remarks

Brand new house with lots of upgrades. Great location. Close to Sunshine Blvd and 82 Road High Celling, Open kitchen with split bedroom concept. Tile through all house including showers walls. Wood cabinets with quartz counter top in the kitchen, bathrooms vanities and window sills.

Key facts

• Quartz counter top
• Open kitchen
• 0.25 acre lot

Tags

• OPEN KITCHEN
• SPLIT BEDROOM CONCEPT
• TILE THROUGH ALL HOUSE
• QUARTZ COUNTER TOP

Property features AI

Finance

• Other: Lot dimensions approximately 80 x 125 (survey)
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Attached garage; 1 covered garage space
• Security: Smoke detector(s)
• Utilities: Cable available; Septic tank; Well water
• Home design: Single-story; New construction; Faces south
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Open patio and porch; Patio; Porch; Rectangular lot; North exposure; Has view

Interior

• Kitchen: Dishwasher; Electric cooktop; Microwave; Refrigerator
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Great room; Eat-in kitchen; Pantry; Separate shower; Shower only; Split bedrooms; Double hung windows; Impact glass windows; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $275k.

Deal economics

• At list price, monthly cash flow is $-400 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (30.9% below list).
• Recommended offer: $190k (30.9% 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 soft (-1.5%/yr); 788 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 31% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $28k 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 ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 17360% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $25k; list at $275k implies a 1000% 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 $189,955 (30.9% 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 142 days. Have you received any prior offers? Is the seller open to a 31% 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: 0.69% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.23%
• DSCR: 0.72
• GRM: 12.1

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: 19.1%
• Equity multiple: 2.54×
• Total profit: $118,769
• Equity at exit: $247,742

10-year hold

• IRR: 17.1%
• Equity multiple: 5.67×
• Total profit: $359,871
• Equity at exit: $534,265

Cash invested: $77,000 (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 33976

• Home prices YoY: 6.8%
• Rents YoY: -1.5%
• Active inventory: 788
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,900 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-400

Break-even live

Break-even rent $2,406

Max offer price $217,146

Occupancy floor —

Sensitivity live

Price	-10% $-210	-5% $-305	+0% $-400	+5% $-495	+10% $-590
Rent	-10% $-550	-5% $-475	+0% $-400	+5% $-325	+10% $-250
Rate	-1.0pp $-261	-0.5pp $-330	base $-400	+0.5pp $-471	+1.0pp $-544

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3202 21st St SW Lehigh Acres, FL	3.0	2.0	1100	$1,920	$1.75	4d	1	0.21mi
3600 19th St SW Lehigh Acres, FL	3.0	2.0	1114	$1,746	$1.57	5d	1	0.75mi
3402 13th St SW Lehigh Acres, FL	3.0	2.0	1117	$1,940	$1.74	5d	1	0.87mi
3102 39th St SW Lehigh Acres, FL	3.0	2.0	1097	$1,630	$1.49	23d	1	0.91mi
18451 Copperhead Dr #522 Lehigh Acres, FL	2.0	2.0	1120	$1,895	$1.69	25d	1	1.30mi
4001 22nd St SW Lehigh Acres, FL	3.0	2.0	1055	$1,950	$1.85	4d	1	1.33mi
3309 2nd St SW Lehigh Acres, FL	3.0	2.0	984	$1,495	$1.52	25d	1	1.40mi
3704 6th St SW Lehigh Acres, FL	3.0	2.0	1100	$1,575	$1.43	21d	1	1.48mi

Listing history 15 events

1. 2026-06-22
   days on market $275,000 Active 142 DOM
2. 2026-06-17
   days on market $275,000 Active 138 DOM
3. 2026-06-16
   days on market $275,000 Active 137 DOM
4. 2026-06-15
   days on market $275,000 Active 136 DOM
5. 2026-06-13
   days on market $275,000 Active 134 DOM
6. 2026-06-10
   days on market $275,000 Active 131 DOM
7. 2026-06-09
   days on market $275,000 Active 130 DOM
8. 2026-06-07
   days on market $275,000 Active 128 DOM
9. 2026-06-02
   days on market $275,000 Active 123 DOM
10. 2026-06-01
    days on market $275,000 Active 122 DOM
11. 2026-06-01
    days on market $275,000 Active 121 DOM
12. 2026-03-02
    historical $1,575
13. 2026-01-31
    listed $1,575
14. 2026-01-29
    listed $275,000 Active
15. 2024-02-22
    soldstatus $25,000

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,795
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$8,000
• Taxable loss: −$9,757
• Est. tax savings @ 24.0%: +$2,342
• After-tax cash flow: $-2,456/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): 20,277
• Household income: $72,679
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 574.0

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 50% Two or more races 30% White 24% Black 20% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 8% Cuban 18% Dominican 4%
• Common ancestry: Hispanic 8% Slovak 1% Lithuanian 1%
• Foreign-born: 35% · Canada, Jamaica, Vietnam
• Languages at home: 46% English-only · Spanish 43% French/Haitian/Cajun 8% Vietnamese 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: ▲ 21.77%
• Current HPI: 340.4255
• Rent YoY: ▼ -1.54%
• 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

-93.7% since first listed

4 events — show timeline

• 2026-03-02 Rental Removed $1,575 APPFOLIO
• 2026-01-31 Listed for Rent $1,575 APPFOLIO
• 2026-01-29 Listed $275,000 FORTMLS
• 2024-02-22 Sold (Public Records) $25,000 Public Records

Property tax history

+19.5%/yr

Latest (2025): $520 · +31.3% YoY. Source: county tax records.