2433 George Ave S · Lehigh Acres, FL 33973

$384,990

4 bd · 4.0 ba · 2,516 sqft · MultiFamily public records · 30 Days on market

Built 2003 0.29 ac lot Est $551k · 30% under ↓ 4% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• 1% rule +3.7/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• 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 MLS

Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

Key facts

• 2023 roof
• Duplex
• 0.29 acre lot

Tags

• 2023 ROOF
• DUPLEX
• UPDATED AIR CONDITIONING

Property features AI

Finance

• Other: Land lease expires 2027-05-15; Tenants pay electricity, grounds care, and water; Pets allowed
• Financial info: Gross scheduled income reported as $40,680; Operating expenses reported as $4,068; One unit showing actual/pro forma rent of $1,695
• HOA & community: No association fee; Non-gated community

Exterior

• Parking: Each unit includes an attached garage (1 garage space per unit)
• Utilities: Cable available; Septic tank sewer; Well water
• Home design: Multi-family property with 2 total units; Resale condition; Zoned RM-2
• Construction: Block, concrete, and stucco construction; Shingle roof
• Exterior features: Patio; Rectangular lot; Lot dimensions approximately 100 x 127 x 100 x 127

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Tile flooring
• Bathrooms: Four full bathrooms total (each unit has 2 full bathrooms)
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Single-hung windows
• Laundry & utility: Laundry in residence for each unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $53 ($638/yr) — positive. Per door: $27/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 $334k (13.3% below list).
• Recommended offer: $334k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 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 (-7.0%/yr); 295 active listings in the ZIP; 40 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).
• At $3,339/mo this rent would consume 66% 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 $12k 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 30 days — a 2% lower offer ($379k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago 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.

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 $333,900 (13.3% 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. 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 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: 0.87% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $551,004
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2440-2442 Vernon Ave S	0.20mi	3/2.0 (-1)	2,400 (-5%)	6mo	$525,000	$219	65

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: -18.7%
• Equity multiple: 0.36×
• Total profit: $-68,781
• Equity at exit: $57,403

10-year hold

• IRR: -18.5%
• Equity multiple: 0.13×
• Total profit: $-93,334
• Equity at exit: $33,287

Cash invested: $107,797 (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: 19.2×

Monthly cashflow live

• Estimated rent: $3,339 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$405 /mo · $4,864/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $53

Break-even live

Break-even rent $3,272

Max offer price $384,990

Occupancy floor 93%

Sensitivity live

Price	-10% $271	-5% $162	+0% $53	+5% $-56	+10% $-165
Rent	-10% $-211	-5% $-79	+0% $53	+5% $185	+10% $317
Rate	-1.0pp $247	-0.5pp $151	base $53	+0.5pp $-47	+1.0pp $-148

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,340
Total (2 units)			$3,339

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: $96,248
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2419 Joe Ave S Lehigh Acres, FL	3.0	2.0	2232	$1,195	$0.54	5d	1	0.13mi
2402 Lantana Ave S Unit 2402 Lehigh Acres, FL	3.0	2.0	1840	$1,750	$0.95	23d	1	0.24mi
2431 Paul Ave S Lehigh Acres, FL	3.0	2.0	2600	$2,000	$0.77	25d	1	0.39mi
5022 25th St SW Lehigh Acres, FL	3.0	2.0	2388	$1,850	$0.77	13d	1	0.39mi
12963 Pemberton Way Fort Myers, FL	4.0	3.0	2032	$4,500	$2.21	17d	1	0.48mi
12952 Broomfield Ln Fort Myers, FL	4.0	3.0	2032	$2,700	$1.33	17d	1	0.49mi
2216 Leda Ave S Lehigh Acres, FL	5.0	3.0	2750	$2,470	$0.90	17d	1	0.52mi
2206 Leda Ave S Lehigh Acres, FL	3.0	2.0	2349	$1,800	$0.77	5d	1	0.55mi
4806 24th St SW Lehigh Acres, FL	3.0	2.0	2252	$1,650	$0.73	5d	1	0.58mi
4806 24th St SW Lehigh Acres, FL	3.0	2.0	2252	$1,650	$0.73	12d	1	0.58mi
4800 15th St SW Lehigh Acres, FL	3.0	2.0	2522	$1,800	$0.71	23d	1	0.68mi
12469 Pebble Stone Ct Fort Myers, FL	4.0	3.0	2368	$2,750	$1.16	5d	1	0.79mi
5227 3rd St W Lehigh Acres, FL	4.0	2.5	2102	$2,260	$1.08	25d	1	0.91mi
12501 Fairmont Dr Fort Myers, FL	3.0	3.0	3092	$3,150	$1.02	16d	1	0.93mi
4720 29th St SW Unit 4722 Lehigh Acres, FL	3.0	2.0	2394	$2,400	$1.00	25d	1	0.96mi
4734 22nd St SW Lehigh Acres, FL	3.0	2.0	2349	$1,850	$0.79	25d	1	0.97mi
4719 28th St SW Lehigh Acres, FL	3.0	2.0	2000	$1,850	$0.93	25d	1	0.97mi
12482 Kentwood Ave Fort Myers, FL	3.0	2.5	2251	$4,900	$2.18	20d	1	0.98mi
9561 Blue Stone Cir Fort Myers, FL	4.0	2.0	2209	$2,800	$1.27	25d	1	1.01mi
4743 14th St SW Lehigh Acres, FL	3.0	2.0	2340	$1,700	$0.73	25d	1	1.02mi
4707 Brixton Ct Lehigh Acres, FL	4.0	2.0	2199	$2,499	$1.14	5d	1	1.02mi
4660 26th St SW Unit 4662 Lehigh Acres, FL	3.0	2.0	2246	$1,700	$0.76	21d	1	1.04mi
5317 30th St SW Lehigh Acres, FL	3.0	2.0	2508	$1,700	$0.68	16d	1	1.08mi
5321 30th St SW Lehigh Acres, FL	3.0	2.0	2292	$1,450	$0.63	25d	1	1.10mi
11082 Lakeland Cir Fort Myers, FL	3.0	2.0	1883	$2,095	$1.11	25d	1	1.10mi
5231 6th St W Lehigh Acres, FL	4.0	3.5	1801	$2,750	$1.53	25d	1	1.12mi
11081 Lakeland Cir Fort Myers, FL	4.0	2.0	2136	$2,600	$1.22	25d	1	1.13mi
12525 Astor Pl Unit 1049698P Fort Myers, FL	3.0	2.0	2174	$6,065	$2.79	16d	1	1.13mi
4713 13th St SW Lehigh Acres, FL	3.0	2.0	2320	$1,600	$0.69	5d	1	1.14mi
5229 7th St W Lehigh Acres, FL	3.0	2.0	1793	$2,700	$1.51	25d	1	1.19mi
723 Ivan Ave S Lehigh Acres, FL	3.0	2.0	2000	$1,850	$0.93	25d	1	1.20mi
723 Ivan Ave S Lehigh Acres, FL	3.0	2.0	2000	$1,800	$0.90	23d	1	1.20mi
721 Ivan Ave S Lehigh Acres, FL	3.0	2.0	2000	$1,850	$0.93	25d	1	1.20mi
721 Ivan Ave S Lehigh Acres, FL	3.0	2.0	2000	$1,800	$0.90	23d	1	1.20mi
11028 Lakeland Cir Fort Myers, FL	4.0	2.0	2136	$2,550	$1.19	25d	1	1.23mi
4614 25th St SW Lehigh Acres, FL	3.0	2.0	2328	$1,300	$0.56	23d	1	1.26mi
5358 30th St SW Lehigh Acres, FL	3.0	2.0	2442	$1,900	$0.78	25d	1	1.26mi
10575 Timber Creek Dr Fort Myers, FL	3.0	3.0	2434	$10,000	$4.11	25d	1	1.29mi
10284 Livorno Dr Fort Myers, FL	3.0	3.0	2202	$7,000	$3.18	5d	1	1.33mi
10798 Timber Creek Dr Fort Myers, FL	3.0	3.0	2650	$8,500	$3.21	25d	1	1.34mi

Listing history 20 events

1. 2026-06-22
   days on market $384,990 Active 30 DOM
2. 2026-06-17
   days on market $384,990 Active 26 DOM
3. 2026-06-16
   days on market $384,990 Active 25 DOM
4. 2026-06-15
   days on market $384,990 Active 24 DOM
5. 2026-06-13
   days on market $384,990 Active 22 DOM
6. 2026-06-10
   days on market $384,990 Active 19 DOM
7. 2026-06-09
   days on market $384,990 Active 18 DOM
8. 2026-06-08
   days on market $384,990 Active 17 DOM
9. 2026-06-07
   days on market $384,990 Active 16 DOM
10. 2026-06-03
    days on market $384,990 Active 12 DOM
11. 2026-06-02
    days on market $384,990 Active 11 DOM
12. 2026-06-01
    days on market $384,990 Active 10 DOM
13. 2026-05-31
    days on market $384,990 Active 9 DOM
14. 2026-05-22
    listed $384,990 Active
15. 2022-08-10
    soldstatus $380,000 Closed 167-char remark

    Show marketing remark (167 chars)

    Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

16. 2022-07-12
    status Pending 167-char remark

    Show marketing remark (167 chars)

    Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

17. 2022-06-29
    status Active 167-char remark

    Show marketing remark (167 chars)

    Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

18. 2022-06-05
    status Pending 167-char remark

    Show marketing remark (167 chars)

    Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

19. 2022-05-11
    price $389,000 167-char remark

    Show marketing remark (167 chars)

    Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

20. 2022-04-29
    listed $399,000 Active 167-char remark

    Show marketing remark (167 chars)

    Residential Income producing Duplex, 2 plus a den, 2 bath and one car garage in each unit. In great conditions both units, tenants month. Buyer financing fell through.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $4,864 · $405/mo
• Projected year-2 tax: $4,864 · $405/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $40,068
• − Mortgage interest: −$21,565
• − Property taxes: −$4,864
• − Insurance: −$1,925
• − Repairs & maintenance: −$3,205
• − Management: −$3,205
• − Depreciation: −$11,200
• Taxable loss: −$5,897
• Est. tax savings @ 24.0%: +$1,415
• After-tax cash flow: $2,053/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): 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

-3.5% since first listed

7 events — show timeline

• 2026-05-22 Listed $384,990 FORTMLS
• 2022-08-10 Sold (MLS) $380,000 FORTMLS
• 2022-07-12 Pending — FORTMLS
• 2022-06-29 Relisted — FORTMLS
• 2022-06-05 Pending — FORTMLS
• 2022-05-11 Price Changed $389,000 FORTMLS
• 2022-04-29 Listed $399,000 FORTMLS

Property tax history

+8.6%/yr

Latest (2024): $4,864 · +2.4% YoY. Source: county tax records.