2004 Wisconsin Ave · Grove City, FL 34224

$265,000

2 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 104 Days on market

Built 1978 6,000 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 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 contract-accepting backup offers. Investor Alert: Commercial Duplex in the Path of Englewood’s Waterfront Growth Opportunity meets location at 2004 Wisconsin Ave in Englewood, where income potential and future redevelopment converge. Positioned on a corner lot where Wisconsin Ave ends at Lemon Bay and just off * * Placida Rd—one of the area’s primary north/south corridors— * * this commercially zoned (CG) duplex sits directly in the path of continued waterfront expansion. Adding to the strategic value, a neighboring marina has already begun acquiring surrounding properties and expanding its footprint, placing this site in a prime position for future commerc

Key facts

• 000 sf lot
• Move-in ready
• Separate utilities

Tags

• 6
• 000 SF LOT
• SEPARATE UTILITIES
• MOVE-IN READY
• NEW ROOF
• FOUR PARKING SPACES

Property features AI

Finance

• Other: Property type: Residential Income; Property subtype: Duplex; Zoning: CG
• Financial info: Annual net income reported as $0.00 (multi-family financial field)
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected
• Home design: Duplex (residential income property); One story
• Construction: Concrete and stucco construction; Shingle roof; Slab foundation; One building on the lot
• Exterior features: Paved road access; Lot approximately 0.14 acres (0 to less than 1/4 acre); Corner lot location (Wisconsin Ave and Placida Rd directions provided)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total of 4 bedrooms; Includes two 2-bedroom unit types (duplex configuration)
• Bathrooms: Total of 2 bathrooms (each unit has 1 bathroom)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $675/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $265k).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 2.8% in Grove City — 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 63/100 on livability (#713 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, 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 (-0.1%/yr); 734 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $4,632/mo this rent would consume 97% of the median local household income ($57k/yr) (locally 329% 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 $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $265k implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-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. 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.
10. 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.
11. 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: 1.75% ✓
• Cap rate: 14.33%
• Cash-on-cash: 28.72%
• DSCR: 2.28
• GRM: 4.8

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: 10.6%
• Equity multiple: 1.40×
• Total profit: $29,780
• Equity at exit: $39,512

10-year hold

• IRR: 16.7%
• Equity multiple: 2.15×
• Total profit: $85,602
• Equity at exit: $22,912

Cash invested: $74,200 (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 34224

• Home prices YoY: -18.9%
• Rents YoY: -0.1%
• Active inventory: 734
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $4,632 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$383 /mo · $4,601/yr
• Insurance: −$110
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$973
• Net cashflow: $1,349

Break-even live

Break-even rent $2,924

Max offer price $265,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,499	-5% $1,424	+0% $1,349	+5% $1,274	+10% $1,199
Rent	-10% $983	-5% $1,166	+0% $1,349	+5% $1,532	+10% $1,715
Rate	-1.0pp $1,483	-0.5pp $1,417	base $1,349	+0.5pp $1,281	+1.0pp $1,211

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,632
Total (2 units)			$4,632

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1950 Nebraska Ave Englewood, FL	2.0	2.0	1325	$3,536	$2.67	22d	1	0.18mi
8787 Saint Kitts Cir Englewood, FL	3.0	2.0	1422	$2,300	$1.62	14d	1	0.29mi
8722 Saint Kitts Cir Englewood, FL	3.0	2.0	1417	$2,100	$1.48	22d	1	0.36mi
8716 Saint Kitts Cir Englewood, FL	3.0	2.0	1417	$2,500	$1.76	22d	1	0.37mi
8146 Saint Kitts Cir Englewood, FL	3.0	2.0	1635	$2,400	$1.47	22d	1	0.38mi
8613 Seasalt Loop Englewood, FL	3.0	2.0	1422	$3,650	$2.57	22d	1	0.40mi
4341 Placida Rd #6 Englewood, FL	2.0	2.0	1071	$1,450	$1.35	22d	1	0.41mi
4341 Placida Rd #5 Englewood, FL	2.0	2.0	1071	$1,350	$1.26	22d	1	0.41mi
8644 Saint Kitts Cir Englewood, FL	3.0	3.0	1849	$2,095	$1.13	22d	1	0.49mi
9203 Griggs Rd #204 Englewood, FL	3.0	2.5	2028	$3,500	$1.73	22d	1	0.66mi
1915 Pennsylvania Ave Englewood, FL	2.0	2.0	1394	$7,500	$5.38	22d	1	0.92mi
1970 Georgia Ave Englewood, FL	3.0	2.0	1160	$11,790	$10.16	22d	1	1.12mi
8256 Shore Lake Dr Englewood, FL	3.0	3.0	2201	$2,500	$1.14	22d	1	1.12mi
1960 Oregon Trl Unit 2A Englewood, FL	2.0	2.0	1360	$3,750	$2.76	22d	1	1.35mi

Listing history 5 events

1. 2026-05-15
   status Pending
2. 2026-04-09
   price $265,000
3. 2026-04-09
   status Active
4. 2025-12-23
   listed $300,000 Active
5. 2000-01-26
   soldstatus $59,000

ⓘ 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: $4,601 · $383/mo
• Projected year-2 tax: $4,601 · $383/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $55,584
• − Mortgage interest: −$14,844
• − Property taxes: −$4,601
• − Insurance: −$6,444
• − Repairs & maintenance: −$4,447
• − Management: −$4,447
• − Depreciation: −$7,709
• Taxable income: $13,093
• Est. tax owed @ 24.0%: −$3,142
• After-tax cash flow: $13,048/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 — Grove City

• Score: 63/100
• State rank: #713
• US rank: #15171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grove City, FL
• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 15,536
• Household income: $57,281
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 329.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 4%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% German/W. Germanic 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: ▼ -75.76%
• Current HPI: 325.0345
• Rent YoY: ▼ -0.11%
• 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

+349.2% since first listed

5 events — show timeline

• 2026-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $265,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-23 Listed $300,000 Stellar MLS as Distributed by MLS Grid
• 2000-01-26 Sold (Public Records) $59,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $4,601 · +6.3% YoY. Source: county tax records.