Venice Plan

Punta Gorda, FL 33955

$374,900F

4 bd · 3.0 ba · 2,675 sqft · Built — · SingleFamily · Active · 138 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,233/mo
• Mortgage (P&I): −$3,423
• Tax + insurance: −$1,088
• HOA: −$0
• Vac / Maint / Mgmt: −$679
• Net cashflow: $-1,956/mo
• Annual: $-23,476/yr
• Cap rate: 2.70%
• Cash-on-cash: -12.85%
• DSCR: 0.43
• 1% rule: 0.50%
• Cash to close: $182,756

Investor read

• This is a 4-bed/3.0-bath single-family listed at $375k.
• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $370k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $323k (13.8% below list).
• It's been on market 138 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $323k (13.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#225 in FL, #3,567 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, health & safety A+; Watch: cost of living D+, amenities D-, commute F.
• Charlotte (suburban): math 54% / reading 54% proficiency, ranked #22 of 73 in FL (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 1481 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $3,233/mo this rent would consume 50% of the median local household income ($77k/yr) (locally 226% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 138 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.