Cape Coral vs Lehigh Acres, FL (Rental Investment Duplex)

[Artur A.]

Hi guys,

I'm thinking about buying property in Cape Coral vs Lehigh Acres. What is your opinion?

1) Most of the properties in Lehigh Acres seems to be C or B - I might have an issue with tenants (eviction, on-time payments, etc). Most of the schools have a bad rating. 

2) Cape Coral has better schools in general. Prices of 3 bedroom apartments in Lehigh Acres are similar to 2 bedrooms in Cape Coral (I guess Lehigh Acres has more opportunity for appreciation). Also, Cape Coral is close to the Gulf of Mexico - the price of insurance most likely be higher (hurricanes, flood).

Can I ask you to help me with calculations for rental properties ( rent numbers were taken from Rentometer). Is it too low or high?:

- insurance costs

- property management cost

- maintenance (for old houses - 1979 & 1990) & vacancy rate

Am I missing something?

1) Lehigh Acres, FL 33974

Price	345000
Downpayment 20%	69000
Principal	17268
Interest 4.75%
Prop management (8%)	2688
Insurance	1800
Taxes (Lee county - 0.95%)	3278
Maintenance (8%)	2688
Vacancy (8%)	2688
Rent Annual ( Rentometer)	33600
Operating income:	3190
Year	1990
Schools	2-5 (below avg - avg)
Neighborhood

2) Cape Coral, FL 33914

Price	349900
Downpayment 20%	69980
Principal	17520
Interest 4.75%
Prop management (8%)	2620.8
Insurance	1800
Taxes (Lee county - 0.95%)	3,324
Maintenance (8%)	2620.8
Vacancy (8%)	2620.8
Rent Annual ( Rentometer)	32760
Operating income:	2,254
Year	1979
Schools	Good
Neighborhood