Ethan Roberts, Real Estate Pro in Jacksonville, FL

What is the rental market like in the Cape Coral, Lehigh Acres, and Fort Myers area for both landlords and tenants?

Asked by Ethan Roberts, Jacksonville, FL Fri Oct 23, 2009

I know there is a high unemployment rate in those areas. Has this had a large effect upon rental prices? What would a 1400 sq ft, newer home rent for? Thanks in advance.

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The rental market here in Lee County is fairly strong given the so called tough economic times. But as Foreclosures clear the market and it starts to heat up renters will be becoming buyers again, as a loan originator I always think that buying is the best option especially with the programs available such as USDA 100% financing, FHA and VA. I see alot of home values come across my desk and some of the homes selling now for 90-150 K sold in 2006 for 325 - 450K and up. I never try to tell consumers what to do but in this market buying could generate up to and in excess of 300-400 K in appreciation over the next four to 8 yrs.

Buying in this market could eventually end up excceding your current yield on your 401K.

If you are interested in finding out more about our current programs you can call us at 239-580-9977 or visit http://www.premiermortgagestore.com
0 votes Thank Flag Link Fri Nov 27, 2009
Ethan,

The rental market here in Lee County is fairly strong given the so called tough economic times. There are deals to be had for tenants but for investors or landlords who have been buying up rental properties cheap this past year it can be very lucrative for them as well. I hope this gives you some insight into the market here in Lee County. Please don't hesitate to let me know if I can be of any help to you or your clients here.

Thanks,
Erik Elsea
AmState Advantage Realty
239-405-4063 cell
erik@erikelsea.com
Web Reference: http://www.resuperstars.com
0 votes Thank Flag Link Fri Oct 23, 2009
In Cape Coral 1400 sq ft home built after 2000 can be purchased under $100,000 and will rent for between $750 and $900 depending on what area of Cape Coral, if it has a lanai, city water and sewer or well and septic.
I have investors buying $120,000 pool homes and renting them out for around $1100 to $1200. We have a property management company that handles 550 homes on an annual basis and 100 homes and condo seasonally.
I am more into the sales and I work with a rental agent in our property management division after the sale.

John Ellwood

Miloff Aubuchon Realty

4707 SE 9th Pl

Cape Coral, Fl 33904

239-229-9904 cell

239-542-1075 office

239-542-7166 fax

jellwood@TeamAubuchon.com
0 votes Thank Flag Link Fri Oct 23, 2009
The market is great if you are a tenant and challenging if you are a landlord. The News-Press ran a story about the rental market earlier in the week and described it as a "Wreck." Rental rates vary depending on location, Craig's List will give a a good view of what the competition is asking for similar homes: http://fortmyers.craigslist.org/apa/
Web Reference: http://www.gulfreturns.com/
0 votes Thank Flag Link Fri Oct 23, 2009
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