1640 Atares #23 · Punta Gorda, FL 33950

$215,000

3 bd · 2.0 ba · 1,837 sqft · Condo public records · 365 Days on market

Built 1989 $665/mo HOA · 19% 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 +25.5/30.0
• 1% rule +10.0/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. Priced To SELL And Seller Is MOTIVATED!!! Welcome To Golf Course Villas Located In The Heart Of Punta Gorda, Florida! If You Are Looking For A Maintenance-Free Lifestyle, Then This Is The Place For You! Golf Course Villas Is A Small Community Consisting Of 33 Villas Nestled In Along The St. Andrews South Golf Course With Many Units Enjoying The Beautiful Lake Views. With Quick Access To I-75, The Punta Gorda Airport, Shopping, Dining And Everyday Essentials, This Home Offers The Perfect Blend Of Comfort And Convenience. Once You Step Inside This Spacious 3-Bedroom 2-Bath Villa, You Will Fall In Love With The Beautiful Wood Flooring Illumina

Key facts

• Lake views
• Spacious kitchen
• Large picture window

Tags

• LAKE VIEWS
• QUICK ACCESS TO I-75
• LAKESIDE POOL
• SPACIOUS KITCHEN
• LARGE PICTURE WINDOW

Property features AI

Finance

• Other: Total annual association fees: $7,980
• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA fee of $665 (association approval required); Association name: Thomas Rackley; Community pool; Community mailbox; Special community restrictions; Pets allowed with size/weight limits (max ~20 lbs)

Exterior

• Parking: Attached 2-car garage (22 x 22) with garage door opener
• Security: Security system
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Phone available; BB/HS internet available; Underground utilities; Irrigation equipment
• Home design: Attached villa; One-story; Faces southeast
• Construction: Block and stucco construction; Tile roof; Slab foundation; Built as a residential villa
• Exterior features: Hurricane shutters; Exterior lighting; Trees and landscaped yard; Located on a cul-de-sac; Within city limits; Private maintained road; Lake view

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal; Solid surface counters
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Cathedral ceilings; Ceiling fans; Open floorplan with living/dining combo; Solid surface counters; Thermostat; Walk-in closets; Skylights; Shutters
• Laundry & utility: Washer and dryer in unit; Laundry located inside and in the kitchen area; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $77 ($928/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.8% in Punta Gorda — 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 76/100 on livability (#225 in FL, #3,567 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing B; Watch: cost of living D+, amenities D-, 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: Sallie Jones Elementary School (math 75% / reading 74%, grade A, #230 of 2,144 statewide, top 12%, 694 students, 47% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Market conditions: Rents soft (-0.1%/yr); 999 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $3,472/mo this rent would consume 55% of the median local household income ($76k/yr) (locally 608% 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 $1k of loan paydown is wiped out by about $6k 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 365 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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.
9. 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.
10. 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: 1.61% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.04%
• DSCR: 1.45
• GRM: 5.2

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: -19.6%
• Equity multiple: 0.35×
• Total profit: $-39,309
• Equity at exit: $32,057

10-year hold

• IRR: -32.8%
• Equity multiple: -0.06×
• Total profit: $-64,047
• Equity at exit: $18,589

Cash invested: $60,200 (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 33950

• Home prices YoY: -29.9%
• Rents YoY: -0.1%
• Active inventory: 999
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,472 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$357 /mo · $4,282/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$665
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $77

Break-even live

Break-even rent $3,374

Max offer price $215,000

Occupancy floor 93%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3640 Bal Harbor Blvd #534 Punta Gorda, FL	2.0	2.0	1405	$1,800	$1.28	13d	1	0.23mi
3334 Purple Martin Dr #211 Punta Gorda, FL	2.0	2.0	1851	$4,500	$2.43	20d	1	0.68mi
2000 Bal Harbor Blvd #9112 Punta Gorda, FL	3.0	2.0	1517	$1,900	$1.25	13d	1	0.70mi
3322 Purple Martin Dr #132 Punta Gorda, FL	2.0	2.0	1381	$1,650	$1.19	20d	1	0.72mi
3322 Purple Martin Dr Unit Reservation Spot 1 Punta Gorda, FL	2.0	2.0	1400	$3,800	$2.71	20d	1	0.72mi
2002 Bal Harbor Blvd Punta Gorda, FL	3.0	2.0	1517	$2,700	$1.78	20d	1	0.73mi
2001 Bal Harbor Blvd #2412 Punta Gorda, FL	2.0	2.0	1367	$2,300	$1.68	13d	1	0.76mi
3228 Purple Martin Dr #125 Punta Gorda, FL	3.0	2.0	1501	$4,000	$2.66	20d	1	0.84mi
3228 Purple Martin Dr #125 Punta Gorda, FL	3.0	2.0	1501	$4,000	$2.66	13d	1	0.84mi
2436 Deborah Dr Punta Gorda, FL	3.0	2.5	2197	$6,500	$2.96	20d	1	0.85mi
1431 Aqui Esta Dr #411 Punta Gorda, FL	3.0	2.0	1556	$2,000	$1.29	20d	1	0.88mi
1340 Rock Dove Ct #144 Punta Gorda, FL	3.0	2.0	1813	$1,850	$1.02	13d	1	0.95mi
1340 Rock Dove Ct #144 Punta Gorda, FL	3.0	2.0	1813	$1,850	$1.02	20d	1	0.95mi
1980 Aqui Esta Dr Punta Gorda, FL	3.0	2.0	1862	$2,850	$1.53	20d	1	0.95mi
2429 Aqui Esta Dr Punta Gorda, FL	3.0	2.0	1317	$2,995	$2.27	20d	1	1.04mi
945 Bal Harbor Blvd Punta Gorda, FL	3.0	2.0	2085	$5,500	$2.64	20d	1	1.08mi
2060 Via Seville Punta Gorda, FL	3.0	2.0	1855	$6,500	$3.50	20d	1	1.11mi
3252 Antigua Dr Punta Gorda, FL	3.0	2.0	2275	$10,000	$4.40	13d	1	1.25mi
3004 Banyan Way Punta Gorda, FL	3.0	2.0	1522	$3,390	$2.23	20d	1	1.28mi
732 Santa Margerita Ln Punta Gorda, FL	3.0	2.0	2017	$3,000	$1.49	20d	1	1.30mi
4020 Palm Dr Punta Gorda, FL	2.0	2.0	1228	$2,300	$1.87	20d	1	1.32mi
2500 Rio Lisbo Ct Punta Gorda, FL	3.0	2.0	1982	$3,000	$1.51	20d	1	1.33mi
2572 Brazilia Ct Punta Gorda, FL	3.0	2.0	2265	$6,950	$3.07	20d	1	1.37mi
2572 Brazilia Ct #2 Punta Gorda, FL	3.0	2.0	2265	$6,950	$3.07	13d	1	1.37mi
2736 Magdalina Dr Punta Gorda, FL	3.0	2.0	2004	$5,000	$2.50	20d	1	1.40mi
67 Windmill Blvd Unit 212O Punta Gorda, FL	2.0	2.0	1620	$1,895	$1.17	20d	1	1.40mi
16 Freeman Ave Unit Reservation spot 2 Punta Gorda, FL	2.0	2.0	1375	$3,500	$2.55	20d	1	1.44mi
450 Sorrento Ct Punta Gorda, FL	3.0	2.0	1977	$7,500	$3.79	13d	1	1.45mi
2811 Poinciana Ct Punta Gorda, FL	3.0	2.0	2154	$2,300	$1.07	13d	1	1.47mi

HOA detail condo

• Monthly dues: $665 · $7,980/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $215,000 Active 365 DOM
2. 2026-06-17
   days on market $215,000 Active 364 DOM
3. 2026-06-16
   days on market $215,000 Active 363 DOM
4. 2026-06-15
   days on market $215,000 Active 362 DOM
5. 2026-06-14
   days on market $215,000 Active 360 DOM
6. 2026-06-13
   days on market $215,000 Active 359 DOM
7. 2026-06-10
   days on market $215,000 Active 357 DOM
8. 2026-06-09
   days on market $215,000 Active 356 DOM
9. 2026-06-08
   days on market $215,000 Active 355 DOM
10. 2026-06-05
    days on market $215,000 Active 351 DOM
11. 2026-06-02
    days on market $215,000 Active 349 DOM
12. 2026-06-01
    days on market $215,000 Active 348 DOM
13. 2026-05-31
    days on market $215,000 Active 347 DOM
14. 2026-05-30
    days on market $215,000 Active 346 DOM
15. 2026-04-21
    price $215,000
16. 2026-04-11
    price $225,000
17. 2026-04-04
    price $250,000
18. 2026-02-23
    price $284,999
19. 2025-12-09
    price $299,999
20. 2025-08-17
    price $325,999
21. 2025-06-18
    listed $329,999 Active
22. 2005-03-16
    soldstatus $195,000
23. 1998-11-20
    soldstatus $133,000

ⓘ 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: $4,282 · $357/mo
• Projected year-2 tax: $4,282 · $357/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $41,662
• − Mortgage interest: −$12,043
• − Property taxes: −$4,282
• − Insurance: −$6,194
• − Repairs & maintenance: −$3,333
• − Management: −$3,333
• − HOA: −$7,980
• − Depreciation: −$6,255
• Taxable loss: −$1,756
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $1,350/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 — Punta Gorda

• Score: 76/100
• State rank: #225
• US rank: #3567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Punta Gorda, FL
• County: Charlotte County · 196,994 people
• City population: 68,831
• Metro: Punta Gorda, FL
• Population (ZIP): 24,955
• Household income: $76,369
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 608.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 5% Romanian 4% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -111.73%
• Current HPI: 261.6573
• Rent YoY: ▼ -0.06%
• 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

+61.7% since first listed

9 events — show timeline

• 2026-04-21 Price Changed $215,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-11 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-04 Price Changed $250,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $284,999 Stellar MLS as Distributed by MLS Grid
• 2025-12-09 Price Changed $299,999 Stellar MLS as Distributed by MLS Grid
• 2025-08-17 Price Changed $325,999 Stellar MLS as Distributed by MLS Grid
• 2025-06-18 Listed $329,999 Stellar MLS as Distributed by MLS Grid
• 2005-03-16 Sold (Public Records) $195,000 Public Records
• 1998-11-20 Sold (Public Records) $133,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $4,282 · +196.2% YoY. Source: county tax records.