102 Rena Ave N · Lehigh Acres, FL 33976

$304,000

4 bd · 2.0 ba · 1,806 sqft · Land · 143 Days on market

Built 2025 10,454 sqft 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
• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.1/5.0

Listing remarks

The ROYAL floor plan has four bedrooms, two full bathrooms, a two-car garage, and 1,806 square feet of living space. The great room is spacious and accommodating. A beautiful walk-around island is conveniently located between the great room and the kitchen making it a gathering place for both rooms. Three bedrooms are on one side of the home and the owner's suite is on the other side. The ROYAL comes with one full year of Holiday Builders non-transferable coverage and a 10-year limited structural warranty.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2025

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Attached garage; 2 covered garage spaces
• Utilities: Cable available; Septic tank sewer; Well water
• Home design: Single-story; Entry level: 1; Faces west; Exposures to the east; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof; Rectangular lot; Lot dimensions approximately 80 x 125; Paved road access; Built on typical foundation (details not provided)
• Exterior features: Shutters (manual); No additional exterior features listed

Interior

• Kitchen: Dishwasher; Microwave; Range; Pantry
• Bedrooms: Master bedroom; Three additional bedrooms (all standard bedrooms)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Shower-only configuration in at least one bathroom; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Double-hung windows; Separate/formal dining room; Pantry; Separate shower (shower only); Split bedrooms; Unfurnished
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $304k.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (23.3% below list).
• Recommended offer: $233k (23.3% 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+, schools D-.
• 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.
• Market conditions: Rents soft (-1.5%/yr); 786 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 38% 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 $33k of equity ($2k loan paydown + $30k 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 ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($268k) 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.

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 $233,161 (23.3% 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 143 days. Have you received any prior offers? Is the seller open to a 23% 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: 0.77% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.65%
• DSCR: 0.84
• GRM: 10.9

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: 20.8%
• Equity multiple: 2.67×
• Total profit: $142,279
• Equity at exit: $273,867

10-year hold

• IRR: 18.3%
• Equity multiple: 5.93×
• Total profit: $419,790
• Equity at exit: $590,605

Cash invested: $85,120 (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: 786
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,332 high
• Mortgage (P&I): −$1,594
• Tax est. 1.5%: −$380 /mo · $4,560/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $-259

Break-even live

Break-even rent $2,659

Max offer price $266,536

Occupancy floor —

Sensitivity live

Price	-10% $-49	-5% $-154	+0% $-259	+5% $-364	+10% $-469
Rent	-10% $-443	-5% $-351	+0% $-259	+5% $-167	+10% $-75
Rate	-1.0pp $-106	-0.5pp $-182	base $-259	+0.5pp $-338	+1.0pp $-418

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: $76,000
• Closing costs: $9,120
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3109 8th St SW Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	22d	1	0.52mi
3310 9th St W Lehigh Acres, FL	3.0	2.0	1488	$2,300	$1.55	17d	1	0.54mi
3208 9th St W Lehigh Acres, FL	3.0	2.0	1423	$1,916	$1.35	4d	1	0.56mi
3309 10th St W Lehigh Acres, FL	4.0	2.0	1575	$2,199	$1.40	12d	1	0.57mi
3417 7th St SW Lehigh Acres, FL	4.0	2.0	1833	$1,850	$1.01	11d	1	0.60mi
3109 10th St W Lehigh Acres, FL	3.0	2.0	1472	$1,950	$1.32	24d	1	0.62mi
3312 11th St W Lehigh Acres, FL	3.0	2.5	1354	$2,000	$1.48	4d	1	0.66mi
3310 11th St W Lehigh Acres, FL	3.0	2.5	1354	$2,000	$1.48	4d	1	0.66mi
3506 9th St W Lehigh Acres, FL	4.0	2.0	1820	$2,800	$1.54	24d	1	0.68mi
3303 8th St SW Lehigh Acres, FL	3.0	2.0	1400	$2,250	$1.61	4d	1	0.72mi
903 Unice Ave N Lehigh Acres, FL	3.0	2.5	2380	$3,000	$1.26	24d	1	0.74mi
3408 10th St SW Lehigh Acres, FL	4.0	2.0	1385	$1,850	$1.34	22d	1	0.74mi
3408 10th St SW Lehigh Acres, FL	4.0	2.0	1920	$1,750	$0.91	15d	1	0.74mi
2916 7th St SW Lehigh Acres, FL	3.0	2.0	1357	$1,900	$1.40	24d	1	0.75mi
3615 6th St SW Lehigh Acres, FL	3.0	2.0	1378	$1,825	$1.32	24d	1	0.76mi
2902 7th St W Lehigh Acres, FL	3.0	2.0	1841	$2,085	$1.13	3d	1	0.77mi
2902 7th St W Lehigh Acres, FL	3.0	2.0	1841	$2,215	$1.20	15d	1	0.77mi
2812 4th St SW Lehigh Acres, FL	3.0	2.0	1751	$1,856	$1.06	24d	1	0.82mi
3700 9th St W Lehigh Acres, FL	3.0	2.0	1600	$1,875	$1.17	4d	1	0.89mi
3705 9th St SW Lehigh Acres, FL	3.0	2.0	1272	$1,695	$1.33	15d	1	0.96mi
2913 14th St W Lehigh Acres, FL	3.0	2.0	1629	$2,400	$1.47	3d	1	0.99mi
2913 14th St W Lehigh Acres, FL	4.0	2.0	1629	$2,300	$1.41	24d	1	0.99mi
2709 6th St W Lehigh Acres, FL	4.0	3.0	1915	$2,400	$1.25	20d	1	1.00mi
2709 6th St W Lehigh Acres, FL	4.0	3.0	1915	$2,400	$1.25	22d	1	1.00mi
802 Zona Ave N Lehigh Acres, FL	4.0	2.0	1900	$2,295	$1.21	11d	1	1.05mi
1507 Paula Ave S Lehigh Acres, FL	3.0	2.0	1547	$2,000	$1.29	20d	1	1.07mi
3203 18th St W Lehigh Acres, FL	3.0	2.5	1710	$2,250	$1.32	24d	1	1.09mi
2820 14th St W Lehigh Acres, FL	3.0	2.0	2007	$2,791	$1.39	4d	1	1.09mi
2906 14th St SW Lehigh Acres, FL	3.0	2.0	1563	$2,450	$1.57	24d	1	1.09mi
3820 3rd St SW Lehigh Acres, FL	4.0	2.0	2133	$1,745	$0.82	24d	1	1.10mi
2918 16th St Lehigh Acres, FL	3.0	2.0	1324	$1,845	$1.39	22d	1	1.11mi
2614 7th St W Lehigh Acres, FL	3.0	2.0	1912	$2,500	$1.31	24d	1	1.14mi
3919 3rd St W Lehigh Acres, FL	4.0	2.0	1728	$2,131	$1.23	4d	1	1.15mi
3702 14th St SW Lehigh Acres, FL	4.0	2.0	1472	$1,995	$1.36	24d	1	1.15mi
2612 7th St W Lehigh Acres, FL	3.0	2.0	1492	$2,295	$1.54	24d	1	1.15mi
2909 15th St SW Lehigh Acres, FL	3.0	2.0	1291	$1,800	$1.39	22d	1	1.16mi
3818 7th St SW Lehigh Acres, FL	3.0	2.0	1422	$1,695	$1.19	24d	1	1.16mi
1511 Terry Ave S Lehigh Acres, FL	3.0	2.0	1579	$1,996	$1.26	24d	1	1.17mi
3820 7th St SW Lehigh Acres, FL	4.0	2.0	1841	$2,500	$1.36	12d	1	1.17mi
3906 6th St W Lehigh Acres, FL	3.0	2.0	1457	$2,000	$1.37	24d	1	1.18mi

Listing history 18 events

1. 2026-06-17
   days on market $304,000 Active 143 DOM
2. 2026-06-16
   days on market $304,000 Active 142 DOM
3. 2026-06-15
   days on market $304,000 Active 141 DOM
4. 2026-06-13
   pricedays on market $304,000 Active 139 DOM
5. 2026-06-10
   days on market $310,000 Active 136 DOM
6. 2026-06-09
   days on market $310,000 Active 135 DOM
7. 2026-06-07
   days on market $310,000 Active 133 DOM
8. 2026-06-02
   days on market $310,000 Active 128 DOM
9. 2026-06-01
   days on market $310,000 Active 127 DOM
10. 2026-06-01
    days on market $310,000 Active 126 DOM
11. 2026-05-20
    price $310,000
12. 2026-03-13
    status Active
13. 2025-12-01
    status Pending
14. 2025-10-15
    listed $314,990 Active
15. 2024-03-26
    soldstatus $275,000
16. 2004-01-28
    soldstatus $5,300
17. 2004-01-22
    soldstatus $5,250
18. 2003-11-25
    price $5,500

ⓘ 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 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: $27,979
• − Mortgage interest: −$17,029
• − Property taxes: −$4,560
• − Insurance: −$1,520
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$8,844
• Taxable loss: −$8,450
• Est. tax savings @ 24.0%: +$2,028
• After-tax cash flow: $-1,079/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

+5536.4% since first listed

8 events — show timeline

• 2026-05-20 Price Changed $310,000 FORTMLS
• 2026-03-13 Relisted — FORTMLS
• 2025-12-01 Pending — FORTMLS
• 2025-10-15 Listed $314,990 FORTMLS
• 2024-03-26 Sold (Public Records) $275,000 Public Records
• 2004-01-28 Sold (Public Records) $5,300 Public Records
• 2004-01-22 Sold (MLS) $5,250 FORTMLS
• 2003-11-25 Price Changed $5,500 FORTMLS

Property tax history

+19.9%/yr

Latest (2025): $529 · +34.2% YoY. Source: county tax records.