118 Parish Dr · Lehigh Acres, FL 33974

$375,000

4 bd · 2.0 ba · 2,157 sqft · Land · 73 Days on market

Built 2025 0.26 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.4/30.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks

New Construction, 4 Bedroom 2 Bath Home in Mirror Lakes in Lehigh Acres.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 2025

Property features AI

Finance

• Other: Lot described as regular and deeded; Lot dimensions reported (approximate): 90' front, 127' sides, 90' back; total area 0.2616 acres; Landscaped area view; Directions: I-75 to Exit 138, left on State Rd 82 east, left (north) on Grant Blvd, left on Parish Dr; Possession at closing
• Financial info: No additional financial details provided
• HOA & community: No HOA maintenance; No community amenities; Non-gated community

Exterior

• Parking: Attached 2-car garage
• Security: No security features provided
• Utilities: Well water; Septic sewer; Cable available
• Home design: Single-family residence; 1-story / ranch plan; Rear exposure faces west; Residential property in the Mirror Lakes community
• Construction: Concrete block construction; Shingle roof; Built in 2025
• Exterior features: Patio; Sliding windows; Stucco exterior finish

Interior

• Kitchen: No appliance details provided
• Bedrooms: 4 bedrooms
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Formal dining area; Open porch / lanai; Unfurnished; See remarks for additional interior details
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $375k.

Deal economics

• At list price, monthly cash flow is $-820 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (31.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (40.2% below list).
• Recommended offer: $224k (40.2% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 4.7% in Lehigh Acres — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 37% 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 $40k of equity ($3k loan paydown + $38k 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 ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($352k) 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 $65k; list at $375k implies a 477% 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; major 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 $224,261 (40.2% 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 73 days. Have you received any prior offers? Is the seller open to a 40% 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: 0.60% ✗
• Cap rate: 3.67%
• Cash-on-cash: -9.37%
• DSCR: 0.58
• GRM: 13.9

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: 17.0%
• Equity multiple: 2.39×
• Total profit: $145,478
• Equity at exit: $337,830

10-year hold

• IRR: 15.7%
• Equity multiple: 5.36×
• Total profit: $457,772
• Equity at exit: $728,543

Cash invested: $105,000 (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 33974

• Home prices YoY: 5.8%
• Rents YoY: -4.7%
• Active inventory: 2476
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,243 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $-820

Break-even live

Break-even rent $3,280

Max offer price $256,362

Occupancy floor —

Sensitivity live

Price	-10% $-561	-5% $-690	+0% $-820	+5% $-949	+10% $-1,079
Rent	-10% $-997	-5% $-908	+0% $-820	+5% $-731	+10% $-643
Rate	-1.0pp $-631	-0.5pp $-725	base $-820	+0.5pp $-917	+1.0pp $-1,016

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2507 53rd St SW Lehigh Acres, FL	3.0	2.0	1714	$1,950	$1.14	5d	1	0.39mi
2512 54th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,750	$0.95	5d	1	0.41mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,000	$1.42	5d	1	0.60mi
507 Peerless Cir Lehigh Acres, FL	3.0	2.0	1408	$2,100	$1.49	25d	1	0.60mi
2513 48th St SW Lehigh Acres, FL	3.0	2.0	1423	$1,750	$1.23	17d	1	0.65mi
397 Pennfield Ave Lehigh Acres, FL	4.0	2.0	1780	$2,100	$1.18	25d	1	0.72mi
820 Rue Labeau Cir Fort Myers, FL	3.0	2.0	1661	$1,700	$1.02	5d	1	0.90mi
820 Rue Labeau Cir Fort Myers, FL	3.0	2.0	1661	$1,800	$1.08	25d	1	0.90mi
4601 Elva Ave S Lehigh Acres, FL	4.0	3.0	2362	$2,500	$1.06	23d	1	0.90mi
839 Yellowbird Dr Fort Myers, FL	3.0	2.0	1461	$1,895	$1.30	25d	1	0.92mi
2819 51st St SW Lehigh Acres, FL	4.0	2.0	1472	$2,250	$1.53	25d	1	0.93mi
2908 51st St SW Lehigh Acres, FL	3.0	2.0	1401	$1,796	$1.28	5d	1	1.03mi
19542 Fairhill Ct Lehigh Acres, FL	3.0	2.0	1429	$1,700	$1.19	25d	1	1.04mi
304 Preston St Lehigh Acres, FL	3.0	2.0	1590	$2,150	$1.35	5d	1	1.05mi
304 Preston St Unit 304 Lehigh Acres, FL	3.0	2.0	1519	$2,350	$1.55	25d	1	1.05mi
2911 48th St SW Lehigh Acres, FL	3.0	2.0	1723	$2,200	$1.28	12d	1	1.11mi
335 Parish Dr Lehigh Acres, FL	4.0	3.0	2205	$2,390	$1.08	12d	1	1.12mi
208 Pembroke St Lehigh Acres, FL	3.0	2.0	1545	$2,100	$1.36	25d	1	1.14mi
337 Marabou Dr Lehigh Acres, FL	3.0	2.0	1850	$2,300	$1.24	5d	1	1.14mi
218 Manatee St Fort Myers, FL	3.0	2.0	1456	$1,996	$1.37	5d	1	1.15mi
722 La Plata Ave Lehigh Acres, FL	3.0	2.0	1770	$1,900	$1.07	17d	1	1.21mi
418 Pickford Ave Lehigh Acres, FL	4.0	2.0	1937	$2,450	$1.26	25d	1	1.25mi
4704 Karen Ave S Lehigh Acres, FL	4.0	3.0	1916	$2,500	$1.30	5d	1	1.27mi
215 Mossrosse St Fort Myers, FL	3.0	2.0	1422	$2,011	$1.41	5d	1	1.29mi
227 Pennfield St Lehigh Acres, FL	4.0	2.0	1732	$2,275	$1.31	25d	1	1.30mi
185 Yager Cir Fort Myers, FL	3.0	2.0	1461	$1,950	$1.33	23d	1	1.32mi
11634 Savanna Lakes Blvd Lehigh Acres, FL	5.0	3.0	2451	$2,650	$1.08	23d	1	1.32mi
212 Pullman St Lehigh Acres, FL	3.0	2.0	2396	$1,800	$0.75	25d	1	1.33mi
19750 Garden Ridge Ct Lehigh Acres, FL	4.0	2.5	1400	$2,200	$1.57	25d	1	1.40mi
633 Alabama Rd S Lehigh Acres, FL	3.0	2.0	2422	$1,500	$0.62	25d	1	1.42mi
325 Paulcrest Ave Lehigh Acres, FL	4.0	2.0	1619	$2,300	$1.42	25d	1	1.42mi
11918 Savanna Lakes Blvd Lehigh Acres, FL	3.0	2.0	1484	$2,000	$1.35	25d	1	1.44mi

Listing history 21 events

1. 2026-06-22
   days on market $375,000 Active 73 DOM
2. 2026-06-17
   days on market $375,000 Active 69 DOM
3. 2026-06-16
   days on market $375,000 Active 68 DOM
4. 2026-06-15
   days on market $375,000 Active 67 DOM
5. 2026-06-13
   days on market $375,000 Active 65 DOM
6. 2026-06-10
   days on market $375,000 Active 62 DOM
7. 2026-06-09
   days on market $375,000 Active 61 DOM
8. 2026-06-07
   days on market $375,000 Active 59 DOM
9. 2026-06-03
   days on market $375,000 Active 55 DOM
10. 2026-06-02
    days on market $375,000 Active 54 DOM
11. 2026-06-01
    days on market $375,000 Active 53 DOM
12. 2026-06-01
    days on market $375,000 Active 52 DOM
13. 2026-04-09
    listed $375,000 Active
14. 2026-03-28
    price $375,000
15. 2026-03-28
    historical
16. 2026-03-23
    price $379,000
17. 2026-01-16
    price $389,000
18. 2025-09-29
    listed $395,000 Active
19. 2005-10-20
    soldstatus $65,000
20. 2004-10-21
    soldstatus $25,000
21. 1989-01-01
    soldstatus $9,500

ⓘ 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 6/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,911
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,153
• − Management: −$2,153
• − Depreciation: −$10,909
• Taxable loss: −$16,809
• Est. tax savings @ 24.0%: +$4,034
• After-tax cash flow: $-5,804/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

+3847.4% since first listed

9 events — show timeline

• 2026-04-09 Listed $375,000 NAPLESMLS
• 2026-03-28 Price Changed $375,000 NAPLESMLS
• 2026-03-28 Listing Removed — NAPLESMLS
• 2026-03-23 Price Changed $379,000 NAPLESMLS
• 2026-01-16 Price Changed $389,000 NAPLESMLS
• 2025-09-29 Listed $395,000 NAPLESMLS
• 2005-10-20 Sold (Public Records) $65,000 Public Records
• 2004-10-21 Sold (Public Records) $25,000 Public Records
• 1989-01-01 Sold (Public Records) $9,500 Public Records

Property tax history

+9.1%/yr

Latest (2025): $424 · +6.1% YoY. Source: county tax records.