12231 Kirk Ave #2 · North Port, FL 33981

$376,000

6 bd · 4.0 ba · 2,324 sqft · MultiFamily · 255 Days on market

Built 2025 10,436 sqft lot ↓ 4% since listing

---

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).

• Cash flow +9.3/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Under Construction. The property’s price is based on the current stage of construction, which is 0.87/100 of completion. This property has an active and transferable building permit. Electrical, plumbing, and HVAC systems are already completed, and the structure is in an advanced stage of construction—ready to be finished to the new owner’s specifications. If the buyer wants to finish the construction with our builder we have a preferred lender to provide financing and the remaining cost is $110,469. Welcome to the Duplex of Your Dreams! Be the first to experience luxury in this stunning brand-new construction, featuring 3 bedrooms and 2 bathrooms each unit, nestled in a s

Key facts

• Split-floor plan
• Granite countertops
• 0.24 acre lot

Tags

• ACTIVE BUILDING PERMIT
• ADVANCED STAGE OF CONSTRUCTION
• ELEGANT PAVER DRIVEWAY
• SPLIT-FLOOR PLAN
• WATERPROOF VINYL FLOORING
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Total living area reported: 2,324 sq ft; Building area total: 2,466 sq ft; Total lot size about 0.24 acre
• Financial info: Annual net income (multi-family): $55,000; Pro forma rent per 3-bed unit: $1,600 (each of 2 units)
• HOA & community: No association indicated; Pets allowed: cats and dogs

Exterior

• Parking: Attached garage available (building-level parking indicated)
• Utilities: Well water; Septic tank sewer; Electricity connected; Cable available; Public utilities available
• Home design: Duplex residential income property; One-story building; Under construction (projected completion March 31, 2026); RMF10 zoning
• Construction: Block construction; Shingle roof; Slab foundation; New construction
• Exterior features: Hurricane shutters; Exterior lighting; Paved road access

Interior

• Kitchen: Stone counters
• Bedrooms: Two 3-bedroom units (each unit listed as 3 bedrooms)
• Flooring: Vinyl flooring
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Central heating; Central air conditioning; Attic fan
• Interior features: In-wall pest system; Open floor plan; Stone counters; Window treatments
• Laundry & utility: Dedicated laundry room

🏗️ New construction. The $376,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $492,688.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $376k.

Deal economics

• At list price, monthly cash flow is $-430 ($-5k/yr) — negative. Per door: $-215/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $376k).
• Recommended offer: $331k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.4% vs local median 3.6% in North Port — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#252 in FL, #3,975 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, 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.
• Zoned schools: Myakka River Elementary School (math 65% / reading 60%, grade B, #601 of 2,144 statewide, top 28%, 608 students, 51% FRL); Port Charlotte High School (math 23% / reading 38%, grade F, #434 of 667 statewide, top 66%, 1,649 students, 43% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 2188 active listings in the ZIP; solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $3,850/mo this rent would consume 55% of the median local household income ($84k/yr) (locally 105% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 255 days — a 12% lower offer ($331k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $330,880 (12.0% 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 255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 B-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?
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: 0.78% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.16%
• DSCR: 0.86
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $492,688
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12031 Henley Ave	0.64mi	6/4.0	2,504 (+8%)	24mo	$532,000	$212	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.29×
• Total profit: $-98,040
• Equity at exit: $73,461

10-year hold

• IRR: -8.6%
• Equity multiple: 0.41×
• Total profit: $-81,199
• Equity at exit: $42,599

Cash invested: $137,953 (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 33981

• Home prices YoY: -7.5%
• Rents YoY: 5.3%
• Active inventory: 2188
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,850 high
• Mortgage (P&I): −$2,584
• Tax est. 1.5%: −$616 /mo · $7,390/yr
• Insurance: −$205
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $-430

Break-even live

Break-even rent $4,394

Max offer price $430,493

Occupancy floor —

Sensitivity live

Price	-10% $-89	-5% $-260	+0% $-430	+5% $-600	+10% $-770
Rent	-10% $-734	-5% $-582	+0% $-430	+5% $-278	+10% $-126
Rate	-1.0pp $-182	-0.5pp $-305	base $-430	+0.5pp $-557	+1.0pp $-687

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,850
Total (2 units)			$3,850

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: $123,172
• Closing costs: $14,781
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $376,000 Active 255 DOM
2. 2026-06-17
   days on market $376,000 Active 254 DOM
3. 2026-06-16
   days on market $376,000 Active 253 DOM
4. 2026-06-15
   days on market $376,000 Active 252 DOM
5. 2026-06-14
   days on market $376,000 Active 250 DOM
6. 2026-06-13
   days on market $376,000 Active 249 DOM
7. 2026-06-10
   days on market $376,000 Active 247 DOM
8. 2026-06-09
   days on market $376,000 Active 246 DOM
9. 2026-06-08
   days on market $376,000 Active 245 DOM
10. 2026-06-05
    days on market $376,000 Active 241 DOM
11. 2026-06-02
    days on market $376,000 Active 239 DOM
12. 2026-06-01
    days on market $376,000 Active 238 DOM
13. 2026-05-31
    days on market $376,000 Active 237 DOM
14. 2026-05-30
    days on market $376,000 Active 236 DOM
15. 2026-03-01
    price $376,000
16. 2025-10-06
    listed $391,000 Active
17. 2025-09-17
    price $391,000

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 2/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,200
• − Mortgage interest: −$27,598
• − Property taxes: −$7,390
• − Insurance: −$3,261
• − Repairs & maintenance: −$3,696
• − Management: −$3,696
• − Depreciation: −$14,333
• Taxable loss: −$13,774
• Est. tax savings @ 24.0%: +$3,306
• After-tax cash flow: $-1,852/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 — North Port

• Score: 75/100
• State rank: #252
• US rank: #3975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charlotte County · 196,994 people
• City population: 75,324
• Metro: Punta Gorda, FL
• Population (ZIP): 15,622
• Household income: $84,098
• Rent vs Own: 9.3% rent · 90.7% own
• Severe rent burden: 105.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Black 2% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -28.09%
• Current HPI: 346.5247
• Rent YoY: ▲ 5.29%
• 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

-3.8% since first listed

3 events — show timeline

• 2026-03-01 Price Changed $376,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-06 Listed $391,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $391,000 Stellar MLS as Distributed by MLS Grid