4893/4895 29th St SW · Lehigh Acres, FL 33973

$382,500

6 bd · 4.0 ba · 2,330 sqft · MultiFamily · 11 Days on market

Built 2005 Good condition 0.28 ac lot Est $517k · 26% under

---

Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Appreciation +0.8/10.0
• Rent growth +0.8/5.0

Multi-family units

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

Listing remarks

Under contract-accepting backup offers. Excellent investment opportunity in the rapidly growing Lehigh Acres market! This well-maintained duplex offers two spacious 3-bedroom, 2-bathroom units, each with a 1-car garage and private entrance, making it highly desirable for long-term tenants. Built in 2005 with solid block construction and located in Flood Zone X with no flood insurance required, this property checks all the boxes for investors seeking stable cash flow and low maintenance ownership. Each side features over 1,100 square feet of living space with open floorplans, tile flooring in main living areas, central water, septic, and separately functional layouts ideal for maximizing ren

Key facts

• Flood zone x
• Private entrance
• Tile flooring

Tags

• WELL MAINTAINED DUPLEX
• PRIVATE ENTRANCE
• SOLID BLOCK CONSTRUCTION
• FLOOD ZONE X
• OPEN FLOORPLANS
• TILE FLOORING

Property features AI

Finance

• Other: Property type: Residential income (duplex); Total buildings: 1; Zoning: RM-2; Lot size approx. 0.28 acres (1/4 to less than 1/2 acre)
• Financial info: Annual net income reported: $30,230; Pro forma rent indicated at $1,695 per unit; One unit currently leased at $1,495 (lease expires June 30)
• HOA & community: No association

Exterior

• Parking: Driveway and off-street parking; Two garage spaces (one garage space per unit), attached garages
• Utilities: Public water; Septic tank; Cable, electricity, and water connected
• Home design: Duplex residential income property; Single-story (one level)
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as completed (existing condition)
• Exterior features: Patio; Rain gutters; Lap pool

Interior

• Bedrooms: Two 3-bedroom units (one 3-bed unit occupied in each side)
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry located in the garage

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $382k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive. Per door: $56/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $349k (8.8% below list).
• Recommended offer: $349k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.7% in Lehigh Acres — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: Gateway Elementary School (math 58% / reading 49%, grade C, #949 of 2,144 statewide, top 45%, 840 students, 48% 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) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents falling (-7.0%/yr); 295 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,487/mo this rent would consume 69% of the median local household income ($61k/yr) (locally 1142% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $348,700 (8.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $517,260
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4909-4911 28th St SW	0.09mi	6/4.0	2,392 (+3%)	9mo	$550,000	$230	84
2413-2415 Ansel Ave S	0.50mi	6/4.0	2,398 (+3%)	1mo	$460,000	$192	71
2405/2407 Paul Ave S	0.32mi	6/4.0	2,352 (+1%)	22mo	$445,000	$189	65
4937/4939 Leonard Blvd S	0.46mi	6/4.0	2,238 (-4%)	18mo	$400,000	$179	57
4921 Golfview Blvd	0.55mi	6/4.0	2,362 (+1%)	22mo	$435,000	$184	54
2229/2231 Armour Rd	0.70mi	6/4.0	2,351 (+1%)	20mo	$530,000	$225	49
4452-4454 Golfview Blvd	0.68mi	6/4.0	2,400 (+3%)	20mo	$550,000	$229	47
2220 - 2222 Keith Ave S	0.71mi	6/4.0	2,350 (+1%)	24mo	$540,000	$230	46
4732-4734 29th St SW	0.71mi	6/4.0	2,500 (+7%)	24mo	$555,000	$222	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.7%
• Equity multiple: 0.39×
• Total profit: $-65,055
• Equity at exit: $57,032

10-year hold

• IRR: -17.0%
• Equity multiple: 0.19×
• Total profit: $-86,795
• Equity at exit: $33,072

Cash invested: $107,100 (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 33973

• Home prices YoY: -3.4%
• Rents YoY: -7.0%
• Active inventory: 295
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $3,487 high
• Mortgage (P&I): −$2,006
• Tax est. 1.5%: −$478 /mo · $5,738/yr
• Insurance: −$159
• HOA: −$0
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $111

Break-even live

Break-even rent $3,346

Max offer price $382,500

Occupancy floor 92%

Sensitivity live

Price	-10% $376	-5% $244	+0% $111	+5% $-21	+10% $-153
Rent	-10% $-164	-5% $-26	+0% $111	+5% $249	+10% $387
Rate	-1.0pp $304	-0.5pp $209	base $111	+0.5pp $12	+1.0pp $-89

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,488
Total (2 units)			$3,487

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: $95,625
• Closing costs: $11,475
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2216 Leda Ave S Lehigh Acres, FL	5.0	3.0	2750	$2,470	$0.90	17d	1	0.80mi
5214 25th St SW Lehigh Acres, FL	6.0	4.0	2316	$1,600	$0.69	25d	1	1.07mi
10849 Timber Creek Dr Fort Myers, FL	5.0	4.5	3357	$4,000	$1.19	25d	1	1.11mi
1133 Ichabod Ave Lehigh Acres, FL	6.0	4.0	2376	$2,100	$0.88	25d	1	1.21mi

Listing history 10 events

1. 2026-06-17
   status $382,500 Pending 11 DOM
2. 2026-06-17
   days on market $382,500 Active 11 DOM
3. 2026-06-16
   days on market $382,500 Active 10 DOM
4. 2026-06-15
   days on market $382,500 Active 9 DOM
5. 2026-06-13
   days on market $382,500 Active 7 DOM
6. 2026-06-10
   days on market $382,500 Active 4 DOM
7. 2026-06-09
   days on market $382,500 Active 3 DOM
8. 2026-06-08
   days on market $382,500 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $382,500 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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $41,844
• − Mortgage interest: −$21,426
• − Property taxes: −$5,738
• − Insurance: −$1,912
• − Repairs & maintenance: −$3,348
• − Management: −$3,348
• − Depreciation: −$11,127
• Taxable loss: −$5,054
• Est. tax savings @ 24.0%: +$1,213
• After-tax cash flow: $2,549/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated two-unit property in Lehigh Acres offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and property value
• Both Painting exterior — Fresh paint can improve curb appeal and property value
• Both Landscaping and curb appeal — Improves property's visual appeal and can attract more tenants

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and property value ↑
• Both Painting exterior — Fresh paint can improve curb appeal and property value ↑
• Both Landscaping and curb appeal — Improves property's visual appeal and can attract more tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,392
• Household income: $60,530
• Rent vs Own: 77.1% rent · 22.9% own
• Severe rent burden: 1142.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% Black 36% Two or more races 21% White 18%
• Hispanic origin (detail): Mexican 21% Puerto Rican 7% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 14% Russian 1% Estonian 1%
• Foreign-born: 23% · Canada, China
• Languages at home: 54% English-only · Spanish 31% French/Haitian/Cajun 13% 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: ▼ -8.43%
• Current HPI: 237.694
• Rent YoY: ▼ -6.99%
• 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

• 2026-06-06 Listed $382,500 Stellar MLS as Distributed by MLS Grid