COnsidering to invest in Lehigh Acres. Any suggestions?

Question

Hello everyone,

I'm looking to start investing in Lehigh Acres. I'd love to hear from folks who have recently gone through it. (  best areas, tenants churn, insurance cost range for a standard property, etc.)

Thank you in advance!

Stetson Miller · Answer

Hi @Gabriel Lageyre,

Lehigh is definitely a great place to focus in right now, as it's one of the few good cashflowing areas in Florida. Rental demand and pricing will by far be the highest in the Southwest corner, closest to major roadways, as most people in Lehigh commute to work in Cape Coral, Fort Myers, or further South.

Vacancies typically hover around 1-3%, but a safe number to use in your calculations is 5%. Right now, most vacancies are easily being filled in less than a month from first advertisement to move in.

Insurance will obvious vary by property, but probably the largest defining factor will be the roof age. If you're able to purchase a newer property (duplex 2006+), you could expect those rates to be in the $1,400-2,000 range. A new roof will put you in the $1,000-1,200 range, and a roof any older than 2005 is likely to need replacement in the near future. For these, it's going to be difficult to find a quote for anything under $2,500-3,000 until that roof is replaced.

Hope that helps, let me know if there's any other questions I can answer!