12274 SW Egret Cir #3208 · North Port, FL 34269

$145,000

2 bd · 2.0 ba · 1,064 sqft · Condo public records · 68 Days on market

Built 1989 $292/mo HOA · 15% 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 +19.6/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 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

Move-in ready 2-bedroom, 2-bath condo in the desirable Lake Suzy area, conveniently located just off Kings Highway. This inviting home offers a spacious living room and an open kitchen designed for comfort and functionality. The screened-in, enclosed balcony overlooking the pond provides a perfect Florida room for year-round enjoyment. Recently updated with new siding, the condo offers excellent curb appeal and low-maintenance living. Residents will enjoy access to a well-maintained community pool, clubhouse, and shuffleboard courts, making this a wonderful opportunity for relaxed Florida living in a prime location. This home is currently under probate and will require a closing on or after

Key facts

• Overlooking the pond
• Shuffleboard courts
• Clubhouse

Tags

• SCREENED-IN ENCLOSED BALCONY
• OVERLOOKING THE POND
• COMMUNITY POOL
• CLUBHOUSE
• SHUFFLEBOARD COURTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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.
• Market conditions: 149 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k 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

• It's been on market 68 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $54k; list at $145k implies a 171% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 6.3

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-12,653
• Equity at exit: $21,620

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $3,601
• Equity at exit: $12,537

Cash invested: $40,600 (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: 149
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,907 high
• Mortgage (P&I): −$760
• Tax from tax record: −$227 /mo · $2,723/yr
• Insurance: −$60
• HOA: −$292
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $167

Break-even live

Break-even rent $1,696

Max offer price $145,000

Occupancy floor 86%

Sensitivity live

Price	-10% $249	-5% $208	+0% $167	+5% $126	+10% $84
Rent	-10% $16	-5% $91	+0% $167	+5% $242	+10% $317
Rate	-1.0pp $240	-0.5pp $203	base $167	+0.5pp $129	+1.0pp $91

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 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
11644 SW Egret Cir Lake Suzy, FL	2.0–3.0	2.0	1249	$2,500	$2.00	22d	4	0.25mi
12235 SW Kingsway Cir Unit C6 Lake Suzy, FL	2.0	2.0	1460	$2,000	$1.37	14d	1	0.43mi
175 Kings Hwy Unit A8 Punta Gorda, FL	2.0	2.0	1228	$1,700	$1.38	22d	1	0.97mi
175 Kings Hwy Port Charlotte, FL	2.0	2.0	1219	$1,398	$1.15	22d	3	1.06mi
24150 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	866	$1,735	$2.00	14d	42	1.31mi
24001 Madaca Ln Port Charlotte, FL	1.0–3.0	1.0–2.0	1179	$1,720	$1.46	14d	26	1.37mi
25230 Campos Dr Punta Gorda, FL	3.0	2.0	1460	$1,750	$1.20	22d	1	1.45mi

HOA detail condo

• Monthly dues: $292 · $3,504/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-02-16
   status Pending
2. 2026-02-07
   price $145,000
3. 2026-02-05
   price $125,000
4. 2025-12-10
   listed $145,000 Active
5. 2011-11-21
   listed $75,000
6. 1999-04-01
   soldstatus $53,500

ⓘ 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: $2,723 · $227/mo
• Projected year-2 tax: $2,723 · $227/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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,881
• − Mortgage interest: −$8,122
• − Property taxes: −$2,723
• − Insurance: −$725
• − Repairs & maintenance: −$1,830
• − Management: −$1,830
• − HOA: −$3,504
• − Depreciation: −$4,218
• Taxable loss: −$73
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $2,016/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

+171.0% since first listed

6 events — show timeline

• 2026-02-16 Pending — FORTMLS
• 2026-02-07 Price Changed $145,000 FORTMLS
• 2026-02-05 Price Changed $125,000 FORTMLS
• 2025-12-10 Listed $145,000 FORTMLS
• 2011-11-21 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 1999-04-01 Sold (Public Records) $53,500 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,723 · +5.7% YoY. Source: county tax records.