19385 Water Oak Dr #203 · Port Charlotte, FL 33948

$129,000

2 bd · 2.0 ba · 1,024 sqft · Condo public records · 186 Days on market

Built 2004 $408/mo HOA · 22% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• 1% rule +9.1/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Larger than normal 2 bedroom 2 bathroom condo in Heritage Oak Park! This unit is slightly larger than others in this community because there are only 18 units in the building, compared to 24 units in most of the other buildings. The building has an elevator and this unit comes with a covered carport. Nice open floor plan with tile floors in the kitchen and baths. Breakfast nook, breakfast bar and closet pantry in kitchen. Split bedrooms and the Master bedroom has a large walk-in closet. A/C was replaced in Dec. 2016 and the hot water heater in 2015. Screened lanai offers views of the recreation facilities which include tennis courts, shuffleboard, boccie ball, and pickleball. The unit is located only a short walk to the community center with a fitness room, library, and large heated pool. If you're looking for a peaceful gated community that offers it all. Come take a look or call for your private showing.

Key facts

• All tile flooring
• Fitness center
• Eat in kitchen

Tags

• ALL TILE FLOORING
• EAT IN KITCHEN
• COVERED SCREENED LANAI
• SPLIT BEDROOM LAYOUT
• HEATED POOL AND SPA
• FITNESS CENTER

Property features AI

Finance

• Other: Unfurnished; CDD present
• Financial info: Total annual association fees around $4,220; Lease restrictions apply
• HOA & community: HOA required and active; Monthly HOA approximately $351.67 (Quarterly fee shown $1,055); Association covers pool, sewer, water, grounds and structure maintenance, management, and escrow reserves; Association amenities include clubhouse, fitness center, pool, tennis courts, pickleball courts, shuffleboard, gated access, and maintenance services; Pets allowed (max ~25 lbs); Association approval required

Exterior

• Parking: Carport (1 space)
• Security: Gated community
• Utilities: Public water; Public sewer; Sewer connected; Electric service
• Home design: Condominium; Unit faces north; Second-floor unit in a 3-story building; Entry on one level
• Construction: Block construction; Shingle roof; Pillar/post/pier foundation; Built as part of a multi-story building (building number 19385)
• Exterior features: Covered, screened patio/porch; Sliding doors; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator
• Bedrooms: 2 bedrooms (one on 2nd floor)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Split-bedroom layout; Walk-in closet(s); Sliding doors; Covered, screened patio/porch; Building has elevator
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (16.5% below list).
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $108k (16.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#655 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, employment D, amenities 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.
• Market conditions: Rents soft (-1.6%/yr); 953 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; HOA is 22% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,685 (16.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.1%
• Equity multiple: 0.07×
• Total profit: $-33,492
• Equity at exit: $19,234

10-year hold

• IRR: -72.9%
• Equity multiple: -0.60×
• Total profit: $-57,925
• Equity at exit: $11,154

Cash invested: $36,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33948

• Home prices YoY: -14.9%
• Rents YoY: -1.6%
• Active inventory: 953
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,823 high
• Mortgage (P&I): −$676
• Tax from tax record: −$423 /mo · $5,073/yr
• Insurance: −$54
• HOA: −$408
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-121

Break-even live

Break-even rent $1,976

Max offer price $107,685

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19335 Water Oak Dr #108 Port Charlotte, FL	3.0	2.0	1207	$1,950	$1.62	21d	1	0.15mi
20012 Goldcup Ct Port Charlotte, FL	2.0	2.0	923	$1,595	$1.73	21d	1	0.27mi
19505 Quesada Ave Port Charlotte, FL	1.0–2.0	1.0–2.0	797	$2,800	$3.51	13d	8	0.42mi
425 Ricold Ter Port Charlotte, FL	2.0	2.0	912	$1,400	$1.54	21d	1	0.48mi
1515 Forrest Nelson Blvd Port Charlotte, FL	2.0	2.0	899	$2,000	$2.22	21d	2	0.78mi
2000 Forrest Nelson Blvd Unit B6 Port Charlotte, FL	2.0	2.5	1218	$1,400	$1.15	21d	1	0.88mi
20362 Emerald Ave Port Charlotte, FL	2.0	2.0	1220	$1,750	$1.43	21d	1	0.99mi
1261 Joplin Ave NW Port Charlotte, FL	2.0	2.0	1200	$1,950	$1.62	21d	1	1.18mi
1293 Dorchester St Port Charlotte, FL	2.0	2.0	1250	$1,800	$1.44	13d	1	1.23mi
21044 Delake Ave Port Charlotte, FL	3.0	1.0	1298	$1,500	$1.16	21d	1	1.37mi

HOA detail condo

• Monthly dues: $408 · $4,896/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-14
   statusdays on market $129,000 Pending 186 DOM
2. 2026-06-13
   days on market $129,000 Active 185 DOM
3. 2026-06-10
   days on market $129,000 Active 183 DOM
4. 2026-06-09
   days on market $129,000 Active 182 DOM
5. 2026-06-08
   days on market $129,000 Active 181 DOM
6. 2026-06-05
   days on market $129,000 Active 177 DOM
7. 2026-06-03
   days on market $129,000 Active 176 DOM
8. 2026-06-02
   days on market $129,000 Active 175 DOM
9. 2026-06-01
   days on market $129,000 Active 174 DOM
10. 2026-05-31
    days on market $129,000 Active 173 DOM
11. 2026-05-30
    days on market $129,000 Active 172 DOM
12. 2026-04-05
    price $129,000
13. 2026-02-11
    price $139,000
14. 2025-12-09
    listed $149,000 Active
15. 2024-07-23
    historical
16. 2024-06-25
    price $239,900
17. 2024-06-10
    listed $219,900 Active
18. 2023-08-31
    historical $1,600
19. 2023-08-08
    price $1,600
20. 2023-08-01
    price $1,800
21. 2023-07-27
    listed $1,850
22. 2019-01-25
    soldstatus $130,000
23. 2019-01-24
    soldstatus $130,000 Sold 924-char remark

    Show marketing remark (924 chars)

    Larger than normal 2 bedroom 2 bathroom condo in Heritage Oak Park! This unit is slightly larger than others in this community because there are only 18 units in the building, compared to 24 units in most of the other buildings. The building has an elevator and this unit comes with a covered carport. Nice open floor plan with tile floors in the kitchen and baths. Breakfast nook, breakfast bar and closet pantry in kitchen. Split bedrooms and the Master bedroom has a large walk-in closet. A/C was replaced in Dec. 2016 and the hot water heater in 2015. Screened lanai offers views of the recreation facilities which include tennis courts, shuffleboard, boccie ball, and pickleball. The unit is located only a short walk to the community center with a fitness room, library, and large heated pool. If you're looking for a peaceful gated community that offers it all. Come take a look or call for your private showing.

24. 2019-01-08
    status Pending 924-char remark

    Show marketing remark (924 chars)

    Larger than normal 2 bedroom 2 bathroom condo in Heritage Oak Park! This unit is slightly larger than others in this community because there are only 18 units in the building, compared to 24 units in most of the other buildings. The building has an elevator and this unit comes with a covered carport. Nice open floor plan with tile floors in the kitchen and baths. Breakfast nook, breakfast bar and closet pantry in kitchen. Split bedrooms and the Master bedroom has a large walk-in closet. A/C was replaced in Dec. 2016 and the hot water heater in 2015. Screened lanai offers views of the recreation facilities which include tennis courts, shuffleboard, boccie ball, and pickleball. The unit is located only a short walk to the community center with a fitness room, library, and large heated pool. If you're looking for a peaceful gated community that offers it all. Come take a look or call for your private showing.

25. 2018-11-16
    price $136,500 924-char remark

    Show marketing remark (924 chars)

    Larger than normal 2 bedroom 2 bathroom condo in Heritage Oak Park! This unit is slightly larger than others in this community because there are only 18 units in the building, compared to 24 units in most of the other buildings. The building has an elevator and this unit comes with a covered carport. Nice open floor plan with tile floors in the kitchen and baths. Breakfast nook, breakfast bar and closet pantry in kitchen. Split bedrooms and the Master bedroom has a large walk-in closet. A/C was replaced in Dec. 2016 and the hot water heater in 2015. Screened lanai offers views of the recreation facilities which include tennis courts, shuffleboard, boccie ball, and pickleball. The unit is located only a short walk to the community center with a fitness room, library, and large heated pool. If you're looking for a peaceful gated community that offers it all. Come take a look or call for your private showing.

26. 2018-08-15
    listed $139,900 Active 924-char remark

    Show marketing remark (924 chars)

    Larger than normal 2 bedroom 2 bathroom condo in Heritage Oak Park! This unit is slightly larger than others in this community because there are only 18 units in the building, compared to 24 units in most of the other buildings. The building has an elevator and this unit comes with a covered carport. Nice open floor plan with tile floors in the kitchen and baths. Breakfast nook, breakfast bar and closet pantry in kitchen. Split bedrooms and the Master bedroom has a large walk-in closet. A/C was replaced in Dec. 2016 and the hot water heater in 2015. Screened lanai offers views of the recreation facilities which include tennis courts, shuffleboard, boccie ball, and pickleball. The unit is located only a short walk to the community center with a fitness room, library, and large heated pool. If you're looking for a peaceful gated community that offers it all. Come take a look or call for your private showing.

27. 2017-11-13
    soldstatus $127,000
28. 2017-11-07
    soldstatus $127,000 Sold
29. 2017-10-10
    status Pending
30. 2017-06-12
    price $129,500
31. 2017-05-02
    listed $132,900 Active
32. 2004-02-18
    soldstatus $107,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $5,073 · $423/mo
• Projected year-2 tax: $5,073 · $423/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,878
• − Mortgage interest: −$7,226
• − Property taxes: −$5,073
• − Insurance: −$645
• − Repairs & maintenance: −$1,750
• − Management: −$1,750
• − HOA: −$4,896
• − Depreciation: −$3,753
• Taxable loss: −$3,215
• Est. tax savings @ 24.0%: +$772
• After-tax cash flow: $-676/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Charlotte
• NCES district ID: 1200240
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $44,864
• Composite: 45.62/100
• National rank: #2586
• State rank: #22 of 73 in FL

Livability — Port Charlotte

• Score: 65/100
• State rank: #655
• US rank: #13081

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment D Housing A+ Health & safety D- User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Charlotte, FL
• County: Charlotte County · 196,994 people
• City population: 102,180
• Metro: Punta Gorda, FL
• Population (ZIP): 18,696
• Household income: $62,744
• Rent vs Own: 13.8% rent · 86.2% own
• Severe rent burden: 501.0

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 198,646 people
• By 2030: 210,507 · +6.0%
• By 2040: 230,857 · +16.2%
• By 2050: 247,148 · +24.4%
• By 2075: 281,777 · +41.8%
• By 2100: 293,609 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 2%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Indo-European 1%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+34.0) · D 32.7% · R 66.7%
• 2008→2024 swing: -26.7pp toward R · 2008: -7.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+26.6 2016: R+27.8 2012: R+14.3 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.31%
• Current HPI: 315.0548
• Rent YoY: ▼ -1.63%
• Metro: Punta Gorda, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+19.6% since first listed

21 events — show timeline

• 2026-04-05 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $139,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-09 Listed $149,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-06-25 Price Changed $239,900 Stellar MLS as Distributed by MLS Grid
• 2024-06-10 Listed $219,900 Stellar MLS as Distributed by MLS Grid
• 2023-08-31 Rental Removed $1,600 STELLARMLS
• 2023-08-08 Price Changed $1,600 STELLARMLS
• 2023-08-01 Price Changed $1,800 STELLARMLS
• 2023-07-27 Listed for Rent $1,850 STELLARMLS
• 2019-01-25 Sold (Public Records) $130,000 Public Records
• 2019-01-24 Sold (MLS) $130,000 Stellar MLS as Distributed by MLS Grid
• 2019-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-11-16 Price Changed $136,500 Stellar MLS as Distributed by MLS Grid
• 2018-08-15 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2017-11-13 Sold (Public Records) $127,000 Public Records
• 2017-11-07 Sold (MLS) $127,000 Stellar MLS as Distributed by MLS Grid
• 2017-10-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-06-12 Price Changed $129,500 Stellar MLS as Distributed by MLS Grid
• 2017-05-02 Listed $132,900 Stellar MLS as Distributed by MLS Grid
• 2004-02-18 Sold (Public Records) $107,900 Public Records

Property tax history

+5.9%/yr

Latest (2025): $5,073 · -0.0% YoY. Source: county tax records.