12538 SW Kingsway Cir #301 · North Port, FL 34269

$120,000

2 bd · 2.0 ba · 871 sqft · Condo public records · 1 Days on market

Built 1987 $250/mo HOA · 14% of rent

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Why this score? — see what drove the C+ 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 +25.0/30.0
• 1% rule +9.5/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.6/10.0

Listing remarks

Under contract-accepting backup offers. Lake Suzy living made simple. Bring your ideas and make this move-in ready 2 bedroom, 2 bath condo your own. This single story home offers a bright, neutral feel that creates the perfect blank slate for seasonal living, full-time use, or investment. Features include low $250/mo HOA fees that include water, a 2025 HVAC unit, and an X flood zone location. Located steps from the sparkling refurbished community pool and clubhouse, with bocce ball and shuffleboard nearby. Flexible 30-day minimum rentals permitted, offering excellent potential for snowbirds or investors. Conveniently located near shopping, restaurants, and I-75.

Key facts

• Move-in ready
• Clubhouse
• Community pool

Tags

• MOVE-IN READY
• SINGLE STORY HOME
• 2025 HVAC UNIT
• COMMUNITY POOL
• CLUBHOUSE
• BOCCE BALL

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Total annual fees $3,000; Condo fees paid monthly
• HOA & community: Quarterly association fees (includes water, pool, pest control, grounds and structure maintenance, management, private road maintenance, escrow reserves); Monthly condo fee: $250 (land included); Association approval required; buyer approval required; Clubhouse and community pool; Deed restrictions; Pets allowed (cats and dogs), max pet weight ~20 lbs

Exterior

• Parking: Parking available (community directions reference spots 301 or guest)
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Residential condominium; One story; Faces south; Entry on ground level
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of a multi-unit building (building 3)
• Exterior features: Rain gutters; Paved road access; Private maintained road

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Dining area (labeled L Dining); Walk-in closet(s)
• Laundry & utility: Laundry closet; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 8.9% 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.
• Desoto (town): math 31% / reading 32% proficiency, ranked #69 of 73 in FL (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Nocatee Elementary School (math 28% / reading 24%, grade F, #2,015 of 2,144 statewide, top 94%, 446 students, 84% FRL); Desoto Middle School (math 28% / reading 33%, grade F, #465 of 571 statewide, top 82%, 1,169 students, 74% FRL); Desoto County High School (math 26% / reading 33%, grade F, #447 of 667 statewide, top 68%, 1,244 students, 67% FRL) — zoned schools at 75% FRL track the district average.
• Market conditions: 150 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 71 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• DeSoto County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $120k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,589
• Equity at exit: $17,892

10-year hold

• IRR: 7.8%
• Equity multiple: 1.60×
• Total profit: $20,005
• Equity at exit: $10,375

Cash invested: $33,600 (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 34269

• Home prices YoY: -2.9%
• Active inventory: 150
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$183 /mo · $2,190/yr
• Insurance: −$50
• HOA: −$250
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $262

Break-even live

Break-even rent $1,407

Max offer price $120,000

Occupancy floor 80%

Sensitivity live

Price	-10% $329	-5% $295	+0% $262	+5% $228	+10% $194
Rent	-10% $124	-5% $193	+0% $262	+5% $330	+10% $399
Rate	-1.0pp $322	-0.5pp $292	base $262	+0.5pp $230	+1.0pp $199

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12538 SW Kingsway Cir Lake Suzy, FL	2.0	2.0	871	$1,725	$1.98	22d	2	0.12mi
24150 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	866	$1,735	$2.00	15d	42	1.09mi
24001 Madaca Ln Port Charlotte, FL	1.0–3.0	1.0–2.0	1179	$1,720	$1.46	15d	26	1.15mi
24151 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	990	$1,955	$1.97	15d	28	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-28
   status Pending
2. 2026-05-27
   listed $120,000 Active
3. 2024-09-17
   historical $1,200
4. 2024-09-12
   listed $1,200
5. 2024-06-08
   historical $1,450
6. 2024-05-21
   listed $1,450
7. 2024-05-21
   historical $1,450
8. 2024-05-01
   listed $1,450
9. 1987-03-20
   soldstatus $39,900

ⓘ 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: $2,190 · $183/mo
• Projected year-2 tax: $2,190 · $183/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,861
• − Mortgage interest: −$6,722
• − Property taxes: −$2,190
• − Insurance: −$600
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − HOA: −$3,000
• − Depreciation: −$3,491
• Taxable income: $1,520
• Est. tax owed @ 24.0%: −$365
• After-tax cash flow: $2,773/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: Desoto
• NCES district ID: 1200420
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 32% ▼ -3.00%
• Median HH income: $35,136
• Composite: 26.03/100
• National rank: #7305
• State rank: #69 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

• City population: 75,324
• Population (ZIP): 5,111

Population outlook (DeSoto County) Hauer SSP2

• Today (2025): 34,958 people
• By 2030: 34,465 · -1.4%
• By 2040: 33,137 · -5.2%
• By 2050: 31,273 · -10.5%
• By 2075: 23,898 · -31.6%
• By 2100: 15,517 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 10% Two or more races 7% Black 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · DeSoto

• 2024 margin: Solid R (+42.9) · D 28.2% · R 71.2%
• 2008→2024 swing: -30.6pp toward R · 2008: -12.3pp · 2024: -42.9pp
• All cycles: 2024: R+42.9 2020: R+32.0 2016: R+27.7 2012: R+14.3 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.77%
• Current HPI: 297.0303
• Rent YoY: —
• Metro: —
• 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

+200.8% since first listed

9 events — show timeline

• 2026-05-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-27 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-17 Rental Removed $1,200 STELLARMLS
• 2024-09-12 Listed for Rent $1,200 STELLARMLS
• 2024-06-08 Rental Removed $1,450 APPFOLIO
• 2024-05-21 Listed for Rent $1,450 APPFOLIO
• 2024-05-21 Rental Removed $1,450 APPFOLIO
• 2024-05-01 Listed for Rent $1,450 APPFOLIO
• 1987-03-20 Sold (Public Records) $39,900 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,190 · +6.6% YoY. Source: county tax records.