REI in Lehigh Acres vs other Southwest Fl areas

Member since 2021 · 7 posts · 8 votes

Hi fellow investors,

I'm a rookie OOH investor considering Lehigh Acres, FL. What's your take on this area for cash flow, long-term buy and hold? Is this the best from all the Southwest Florida counties? Looks like a growing market but not sure about the cash flow. Thanks in advance for any tips or help!

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Stetson MillerBusiness Member
Real Estate Broker · Fort Myers, FL · Member since 2019 · 576 posts · 423 votes
4y
Hi @Carolina Sotola,
Lehigh Acres is one of the best areas for cash flow in Southwest Florida for long term rentals, assuming you're looking to avoid C class and lower areas. Obviously returns in those lower class areas look good on paper, but they rarely work out to those figures in reality. Multifamily in general in Southwest Florida is going to offer significantly higher cash flow comparatively, and Lehigh offers a very strong supply of duplexes that are high in demand both on the sales and rental side.
Rental figures and property values have increased drastically over the past year with that trend expected to continue. Lehigh has a current estimated population of about 123,000 residents. On average, you could expect to see less than 3-5 advertised vacant rentals available to this massive population right now, so this provides a good indication of the current supply/demand. Lehigh is also attractive in that it provides a unique price point for rentals that is difficult to find anywhere else locally, so it's an area that is always going to retain strong buying and rental demand in that specific price range.
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Carolina Sotola
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Member since 2021 · 7 posts · 8 votes
4y
Thanks for the quick reply! I'm considering class B- even C+. What is the average sale price for a SFR and the average rent? Which zip codes should I look into? Looks like a safe are with low crimes overall, is this accurate? Thanks again :)
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Stetson MillerBusiness Member
Real Estate Broker · Fort Myers, FL · Member since 2019 · 576 posts · 423 votes
4y
@Carolina Sotola You're spot on with everything you said for Lehigh! Area class tends to be pretty consistently B +/-, but there's upper C class style properties to be found with immediate equity gain from rehab available as well. Average sale price for a SFR right now is going to be in the $250-325,000 range renting for $1,800-2,000, but if you're looking for cash flow, the multifamily properties are where I would start. Duplexes can readily be found in the $325-400,000 range and rent for $1,350-1,650, which will offer significantly higher cash flow figures. Zip codes to focus on would be 33973 and 33976 for the highest rental pricing and demand at this time. Both of these areas offer low crime housing areas with very high rental demand as I mentioned previously
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Carolina Sotola
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Member since 2021 · 7 posts · 8 votes
4y
Thank you so much. I will check those out :)
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
2y
Quote from @Carolina Sotola:

Hi fellow investors,

I'm a rookie OOH investor considering Lehigh Acres, FL. What's your take on this area for cash flow, long-term buy and hold? Is this the best from all the Southwest Florida counties? Looks like a growing market but not sure about the cash flow. Thanks in advance for any tips or help!

I was just down here after BP Con. if you are still investing in Lehigh acres I'd like to talk further
[email protected]786-494-6766
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