97 Turtle Bay Cir #97 · Englewood, FL 34224

$115,000

2 bd · 1.0 ba · 648 sqft · SingleFamily · 275 Days on market

Built 1985 5,597 sqft lot $120/mo HOA · 8% of rent ↓ 32% since listing

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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 +25.3/30.0
• DSCR +8.4/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your perfect SEASONAL retreat! This beautifully remodeled, furnished, well maintained 2 bedroom manufactured home offers cozy comfort with modern upgrades. Oyster Creek has their own storage yard and also offers access to Lemon Bay via private boat ramp—ideal for kayaking, fishing, or simply enjoying the peaceful surroundings. Originally built in 1985, this home has been thoughtfully updated inside and out. Step inside to find a bright and open floor plan featuring an updated kitchen with farm sink, custom hardwood shelves, soft closing cabinets, and newer appliances. The bonus room is perfect for a home office, guest bedroom, or hobby area—flexibility to suit your li

Key facts

• Laundry room
• Newer appliances
• Private boat ramp

Tags

• PRIVATE BOAT RAMP
• UPDATED KITCHEN
• CUSTOM HARDWOOD SHELVES
• SOFT CLOSING CABINETS
• NEWER APPLIANCES
• LAUNDRY ROOM

Property features AI

Finance

• Other: Directions: 776 to San Casa, right into Oyster Creek MHP, left on Turtle Bay; home on right
• Financial info: Total annual fees $1,440; Lease restrictions apply
• HOA & community: HOA (Keys Caldwell) with required approval; Monthly HOA fee $120; Community clubhouse; Community mailbox; Deed restrictions; Senior community; Pets allowed (cats and dogs)

Exterior

• Parking: Covered parking; Carport with 1 space
• Utilities: Private water; Public sewer; Broadband/high-speed internet available; Electricity connected; Sewer connected
• Home design: Manufactured home (single wide); One story; Home faces south
• Construction: Vinyl siding; Metal roof; Roof over; Crawlspace and slab foundation; Built area ~798 sq ft (owner provided)
• Exterior features: Lighting; Storage; Private boat ramp (canal access)

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless heating; Mini-split cooling; Wall/window unit cooling
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Washer included; Dryer included; Laundry area accessible from inside and outside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.8% in Englewood — 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 73/100 on livability (#321 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, health & safety A; Watch: employment C-, 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.
• Market conditions: Rents soft (-0.1%/yr); 734 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 31% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 275 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 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. 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 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 6.4

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: -9.1%
• Equity multiple: 0.68×
• Total profit: $-10,357
• Equity at exit: $17,147

10-year hold

• IRR: -5.2%
• Equity multiple: 0.71×
• Total profit: $-9,236
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,491 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$120
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $196

Break-even live

Break-even rent $1,242

Max offer price $115,000

Occupancy floor 82%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1604 Cardinal Ln Unit 1 Englewood, FL	1.0	1.0	750	$1,300	$1.73	21d	1	0.85mi

HOA detail

• Monthly dues: $120 · $1,440/yr

Listing history 24 events

1. 2026-06-18
   days on market $115,000 Active 275 DOM
2. 2026-06-17
   days on market $115,000 Active 274 DOM
3. 2026-06-16
   days on market $115,000 Active 273 DOM
4. 2026-06-15
   days on market $115,000 Active 272 DOM
5. 2026-06-14
   days on market $115,000 Active 270 DOM
6. 2026-06-13
   days on market $115,000 Active 269 DOM
7. 2026-06-10
   days on market $115,000 Active 267 DOM
8. 2026-06-09
   days on market $115,000 Active 266 DOM
9. 2026-06-08
   days on market $115,000 Active 265 DOM
10. 2026-06-05
    days on market $115,000 Active 261 DOM
11. 2026-06-02
    days on market $115,000 Active 259 DOM
12. 2026-06-01
    days on market $115,000 Active 258 DOM
13. 2026-05-31
    days on market $115,000 Active 257 DOM
14. 2026-05-30
    days on market $115,000 Active 256 DOM
15. 2026-02-15
    price $115,000
16. 2025-09-16
    listed $119,000 Active
17. 2025-05-22
    historical
18. 2025-05-02
    price $119,500
19. 2025-03-20
    price $124,000
20. 2025-02-24
    price $129,000
21. 2025-02-05
    price $144,838
22. 2025-01-04
    price $149,838
23. 2024-12-17
    price $159,383
24. 2024-10-24
    listed $169,383 Active

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,888
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,431
• − Management: −$1,431
• − HOA: −$1,440
• − Depreciation: −$3,345
• Taxable income: $701
• Est. tax owed @ 24.0%: −$168
• After-tax cash flow: $2,189/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 — Englewood

• Score: 73/100
• State rank: #321
• US rank: #5655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charlotte County · 196,994 people
• City population: 35,420
• 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

-32.1% since first listed

10 events — show timeline

• 2026-02-15 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-16 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-05-02 Price Changed $119,500 Stellar MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $124,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-24 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-05 Price Changed $144,838 Stellar MLS as Distributed by MLS Grid
• 2025-01-04 Price Changed $149,838 Stellar MLS as Distributed by MLS Grid
• 2024-12-17 Price Changed $159,383 Stellar MLS as Distributed by MLS Grid
• 2024-10-24 Listed $169,383 Stellar MLS as Distributed by MLS Grid