23116 Seneca Ave · Charlotte Harbor, FL 33980

$490,000

4 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 570 Days on market

Built 1969 0.46 ac 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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Quadruplex Zoned Charlotte Harbor Mixed Use, offering endless Rental Possibilities and is priced Below the Appraised value which will allow for the repairs needed. All Units have Metal Roofs, the 4plex has a Separate Laundry Room for the units and there is a single Car Garage which would allow for additional Storage for the 4plex. This Property can been seen from US41(Tamiami Trail) and is Located in a good Rental Area of Beautiful Charlotte Harbor, and is close to Sunseeker Resort, Charlotte Harbor/Peace River, the Kings Highway/Tamiami Trail corridor, Harborview, along with great Shopping, lots of Dining options, and all that Southwest Florida offers and more. This 4plex, prior to Hurrica

Key facts

• 0.46 acre lot
• 4 parking spots
• Built 1969

Property features AI

Finance

• Other: Total living area reported as 3,456 (public records); Total building area reported as 4,953 (public records); Lot size about 0.46 acres (approx. 1/4 to less than 1/2 acre); Zoning: CHNBR; Furnished: Unfurnished; Total units: 4; Total buildings: 2; Unit mix: four 2-bedroom/1-bath units
• Financial info: Annual net income listed as 0.00 (no income reported)
• HOA & community: No HOA association

Exterior

• Parking: Carport with 4 covered spaces
• Security: No security features listed
• Utilities: Public water; Public sewer; Water and sewer connected
• Home design: Residential income property (quadruplex); Two buildings on the property; One-story buildings
• Construction: Block construction; Metal roof; Slab foundation; Property condition described as fixer
• Exterior features: Private mailbox; Storage structure on site; Corner lot; Paved roads; Flood zone (flood insurance required)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Eight bedrooms total; Four 2-bedroom units (each unit type listed as 2-bedroom)
• Flooring: Ceramic tile; Concrete
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: No heating; No cooling
• Interior features: No interior features specified
• Laundry & utility: Common area laundry (shared laundry)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $297/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $490k).
• Recommended offer: $431k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#536 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, 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 falling (-4.0%/yr); 600 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $6,017/mo this rent would consume 114% of the median local household income ($64k/yr) (locally 612% 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 $3k of loan paydown is wiped out by about $15k 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 570 days — a 12% lower offer ($431k) 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.
• Current owner paid $75k; list at $490k implies a 553% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 570 days. Have you received any prior offers? Is the seller open to a 12% 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 1969 — 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: 1.23% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.12%
• DSCR: 1.63
• GRM: 6.8

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: -4.3%
• Equity multiple: 0.85×
• Total profit: $-21,198
• Equity at exit: $73,061

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $11,605
• Equity at exit: $42,366

Cash invested: $137,200 (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 33980

• Home prices YoY: -5.0%
• Rents YoY: -4.0%
• Active inventory: 600
• Price-to-rent: 27.1×

Monthly cashflow live

• Estimated rent: $6,017 medium
• Mortgage (P&I): −$2,570
• Tax from tax record: −$366 /mo · $4,387/yr
• Insurance: −$204
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,264
• Net cashflow: $1,188

Break-even live

Break-even rent $4,514

Max offer price $490,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,016
Total (4 units)			$6,017

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5119 Melbourne St Unit C201 Punta Gorda, FL	3.0	2.5	1831	$4,500	$2.46	21d	1	0.50mi
5119 Melbourne St Unit Reservation spot 1 Port Charlotte, FL	3.0	2.0	1831	$4,500	$2.46	21d	1	0.50mi
5125 Melbourne St Unit E201 Punta Gorda, FL	3.0	2.5	1831	$1,750	$0.96	13d	1	0.51mi
5125 Melbourne St Unit E201 Punta Gorda, FL	3.0	2.5	1831	$1,750	$0.96	21d	1	0.51mi
5125 Melbourne St Unit E-305 Port Charlotte, FL	3.0	2.5	1956	$2,800	$1.43	21d	1	0.52mi
5117 Melbourne St Unit B4302 Port Charlotte, FL	3.0	2.5	1759	$2,500	$1.42	21d	1	0.53mi
5116 Melbourne St Unit B204 Punta Gorda, FL	3.0	2.5	1759	$2,500	$1.42	13d	1	0.63mi
5116 Melbourne St Unit B303 Punta Gorda, FL	3.0	2.5	1759	$5,000	$2.84	13d	1	0.63mi
23491 Harper Ave Punta Gorda, FL	3.0	2.0	1382	$1,450	$1.05	21d	1	0.72mi
22497 Glen Ave Punta Gorda, FL	3.0	2.0	1628	$1,875	$1.15	21d	1	0.89mi
189 Small St SE Port Charlotte, FL	3.0	2.0	1454	$2,300	$1.58	21d	1	1.09mi
181 Beeney Rd SE Port Charlotte, FL	4.0	2.5	1846	$4,900	$2.65	21d	1	1.26mi
480 Sharon Cir Port Charlotte, FL	3.0	1.0	1240	$1,695	$1.37	21d	1	1.37mi
24055 Peaceful Brook Loop Punta Gorda, FL	3.0–5.0	2.0–3.0	2138	$2,242	$1.05	13d	4	1.48mi
835 Conreid Dr NE Port Charlotte, FL	3.0	2.0	1962	$2,200	$1.12	21d	1	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $490,000 Active 570 DOM
2. 2026-06-17
   days on market $490,000 Active 569 DOM
3. 2026-06-16
   days on market $490,000 Active 568 DOM
4. 2026-06-15
   days on market $490,000 Active 567 DOM
5. 2026-06-14
   days on market $490,000 Active 565 DOM
6. 2026-06-13
   days on market $490,000 Active 564 DOM
7. 2026-06-10
   days on market $490,000 Active 562 DOM
8. 2026-06-09
   days on market $490,000 Active 561 DOM
9. 2026-06-08
   days on market $490,000 Active 560 DOM
10. 2026-06-05
    days on market $490,000 Active 556 DOM
11. 2026-06-02
    days on market $490,000 Active 554 DOM
12. 2026-06-01
    days on market $490,000 Active 553 DOM
13. 2026-05-31
    days on market $490,000 Active 552 DOM
14. 2026-05-30
    days on market $490,000 Active 551 DOM
15. 2024-11-25
    listed $490,000 Active
16. 2024-11-10
    historical
17. 2024-10-29
    price $645,000
18. 2024-07-29
    price $695,000
19. 2024-07-10
    listed $724,000 Active
20. 2001-08-20
    soldstatus $75,000

ⓘ 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: $4,387 · $366/mo
• Projected year-2 tax: $4,387 · $366/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $72,204
• − Mortgage interest: −$27,448
• − Property taxes: −$4,387
• − Insurance: −$7,568
• − Repairs & maintenance: −$5,776
• − Management: −$5,776
• − Depreciation: −$14,255
• Taxable income: $6,994
• Est. tax owed @ 24.0%: −$1,679
• After-tax cash flow: $12,572/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 — Charlotte Harbor

• Score: 68/100
• State rank: #536
• US rank: #10043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlotte Harbor, FL
• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 13,120
• Household income: $63,591
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 612.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Two or more races 10% Black 9%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 5% Hispanic 4% Slovak 3%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% 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: ▼ -16.02%
• Current HPI: 306.3331
• Rent YoY: ▼ -4.04%
• 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

+553.3% since first listed

6 events — show timeline

• 2024-11-25 Listed $490,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-10-29 Price Changed $645,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-29 Price Changed $695,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-10 Listed $724,000 Stellar MLS as Distributed by MLS Grid
• 2001-08-20 Sold (Public Records) $75,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $4,387 · -45.6% YoY. Source: county tax records.