838 Cordele Ave NW · Port Charlotte, FL 33948

$184,900

3 bd · 2.0 ba · 1,148 sqft · SingleFamily public records · 58 Days on market

Built 1973 10,000 sqft lot Est $220k · 16% under

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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 +24.7/30.0
• ARV discount +14.8/15.0
• DSCR +8.0/10.0
• 1% rule +6.5/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to a premier investment opportunity at 838 Cordele Ave, located in the rapidly growing Port Charlotte market. This 3-bedroom, 2-bathroom residence offers approximately 1,150 sq. ft. of living space and is primed for a modern transformation. Ideal for investors, flippers, or savvy buyers looking to build instant equity, this property presents a significant value-add opportunity with solid bones and endless potential. The absence of an HOA provides maximum flexibility and fewer restrictions for your vision. Conveniently situated near local shopping and dining, this property is perfectly positioned to capitalize on a high-demand area. Opportunities in this price point move quickly&mdas

Key facts

• Maximum flexibility
• Absence of an hoa
• 0.23 acre lot

Tags

• INVESTMENT OPPORTUNITY
• RAPIDLY GROWING MARKET
• MODERN TRANSFORMATION
• VALUE-ADD OPPORTUNITY
• ABSENCE OF AN HOA
• MAXIMUM FLEXIBILITY

Property features AI

Finance

• Other: Property type: Residential, single family; Zoning: RSF3.5; Lot is level and within city limits; Lot dimensions approximately 80 x 125 (about 0.23 acres)
• Financial info: No lease restrictions
• HOA & community: No association; Pets allowed

Exterior

• Parking: Converted garage; Driveway; 1-car carport
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Single family residence; One story; Faces south
• Construction: Block and vinyl siding construction; Shingle roof; Slab foundation; Built on one level
• Exterior features: Covered rear porch; Screened porch; Sliding doors

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; Open floorplan with living/dining combo; Solid surface counters; Solid wood cabinets
• Laundry & utility: Inside laundry room; Inside utility

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-40 ($-476/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (3.8% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $178k (3.8% below list) — sets the bar for cash-flow.
• Cap rate 8.8% vs local median 4.2% in Port Charlotte — 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 65/100 on livability (#655 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, 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.
• Zoned schools: Meadow Park Elementary School (math 61% / reading 56%, grade B-, #735 of 2,144 statewide, top 35%, 701 students, 59% FRL); Murdock Middle School (math 50% / reading 45%, grade C-, #288 of 571 statewide, top 51%, 577 students, 56% FRL); Port Charlotte High School (math 23% / reading 38%, grade F, #434 of 667 statewide, top 66%, 1,649 students, 43% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents soft (-1.6%/yr); 963 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 41% of the median local income ($63k/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 $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 58 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; list at $185k implies a 68% 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 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,898 (3.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.15% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.97%
• DSCR: 1.40
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $220,416
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
554 Lakemont Ave NW	0.54mi	2/2.0 (-1)	1,204 (+5%)	3mo	$160,000	$133	59
915 Fairfax Ter NW	0.64mi	2/2.0 (-1)	1,127 (-2%)	4mo	$225,000	$200	59
509 Beal St NW	0.68mi	2/2.0 (-1)	1,169 (+2%)	13mo	$225,000	$192	49
741 Dobell Ter NW	0.63mi	3/2.0	1,168 (+2%)	22mo	$270,800	$232	49
4035 Mcintire St	0.73mi	3/2.0	1,200 (+4%)	12mo	$155,000	$129	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.26×
• Total profit: $-38,430
• Equity at exit: $27,569

10-year hold

• IRR: -32.3%
• Equity multiple: -0.15×
• Total profit: $-59,625
• Equity at exit: $15,987

Cash invested: $51,772 (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 33948

• Home prices YoY: -14.9%
• Rents YoY: -1.6%
• Active inventory: 963
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$970
• Tax from tax record: −$251 /mo · $3,017/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-40

Break-even live

Break-even rent $2,183

Max offer price $177,898

Occupancy floor 97%

Sensitivity live

Price	-10% $65	-5% $13	+0% $-40	+5% $-92	+10% $-144
Rent	-10% $-208	-5% $-124	+0% $-40	+5% $45	+10% $129
Rate	-1.0pp $53	-0.5pp $7	base $-40	+0.5pp $-88	+1.0pp $-136

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 Altoona St NW Port Charlotte, FL	2.0	2.0	1002	$1,750	$1.75	23d	1	0.21mi
342 Millport St NW Port Charlotte, FL	3.0	2.0	1331	$2,250	$1.69	23d	1	0.22mi
334 Millport St NW Port Charlotte, FL	3.0	2.0	1459	$2,400	$1.64	23d	1	0.23mi
326 Millport St NW Port Charlotte, FL	3.0	2.0	1459	$2,400	$1.64	23d	1	0.24mi
651 Chamber St NW Port Charlotte, FL	3.0	2.0	1196	$1,900	$1.59	23d	1	0.39mi
979 Roseway Ter NW Port Charlotte, FL	3.0	1.5	1140	$1,525	$1.34	23d	1	0.54mi
979 Roseway Ter NW Unit 979 Port Charlotte, FL	2.0	2.0	1140	$1,750	$1.54	23d	1	0.54mi
1148 Salina Ave Port Charlotte, FL	3.0	2.0	1449	$3,000	$2.07	23d	1	0.56mi
1174 Victoria Ave Port Charlotte, FL	2.0	2.0	1092	$1,650	$1.51	23d	1	0.62mi
1225 Armsdale Ave Port Charlotte, FL	3.0	2.0	1140	$1,525	$1.34	23d	1	0.67mi
533 Crandall St NW Port Charlotte, FL	3.0	2.0	1328	$1,550	$1.17	23d	1	0.69mi
650 Hartford Dr NW Port Charlotte, FL	2.0	2.0	1200	$1,600	$1.33	23d	1	0.70mi
401 Skylark Ln NW Port Charlotte, FL	3.0	2.0	1167	$1,650	$1.41	23d	1	0.90mi
18522 Robinson Ave Port Charlotte, FL	3.0	2.0	1252	$2,000	$1.60	23d	1	1.01mi
266 Rockwood St NW Port Charlotte, FL	3.0	2.0	1400	$1,850	$1.32	15d	1	1.08mi
4123 Michel Tree St Port Charlotte, FL	3.0	2.0	920	$1,750	$1.90	23d	1	1.11mi
4399 Mundella Cir Port Charlotte, FL	3.0	2.0	1140	$3,200	$2.81	23d	1	1.17mi
249 Seminole Blvd NW Port Charlotte, FL	3.0	2.0	1389	$1,750	$1.26	23d	1	1.22mi
18608 Alphonse Cir Port Charlotte, FL	3.0	2.0	1441	$4,000	$2.78	23d	1	1.25mi
182 Chelsea Ct NW Port Charlotte, FL	2.0	2.0	1389	$2,200	$1.58	23d	1	1.26mi
4342 Ewing Cir Port Charlotte, FL	3.0	2.0	1260	$2,500	$1.98	23d	1	1.27mi
18625 Alphonse Cir Port Charlotte, FL	2.0	2.0	960	$4,000	$4.17	23d	1	1.28mi
4518 Wynkoop Cir Port Charlotte, FL	2.0	2.0	1409	$1,995	$1.42	15d	1	1.32mi
4112 Gingold St Port Charlotte, FL	2.0	1.5	1056	$3,300	$3.12	23d	1	1.34mi
394 Ferris Dr NW Port Charlotte, FL	3.0	2.0	842	$1,395	$1.66	23d	1	1.35mi
164 Tradewinds Dr NW Port Charlotte, FL	2.0	1.0	750	$1,350	$1.80	23d	1	1.35mi
2472 Picnic St Port Charlotte, FL	2.0	2.0	990	$1,575	$1.59	23d	1	1.37mi
18493 Lake Worth Blvd Port Charlotte, FL	2.0	2.0	1006	$1,500	$1.49	23d	1	1.39mi
2586 Auburn Blvd Port Charlotte, FL	2.0	2.0	1028	$1,850	$1.80	15d	1	1.40mi
2457 Haven St Port Charlotte, FL	3.0	2.0	1150	$1,775	$1.54	23d	1	1.40mi
20550 Edgewater Dr Port Charlotte, FL	3.0	2.0	1176	$1,900	$1.62	23d	1	1.41mi
1261 Joplin Ave NW Port Charlotte, FL	2.0	2.0	1200	$1,950	$1.62	23d	1	1.47mi
4192 Gingold St Port Charlotte, FL	3.0	2.0	1127	$4,200	$3.73	23d	1	1.47mi
2000 Forrest Nelson Blvd Unit B6 Port Charlotte, FL	2.0	2.5	1218	$1,400	$1.15	23d	1	1.47mi
2223 Tinker St Port Charlotte, FL	3.0	2.0	1337	$2,400	$1.80	23d	1	1.49mi
2395 Alda Ln Port Charlotte, FL	2.0	2.0	1150	$1,775	$1.54	23d	1	1.49mi
18312 Driggers Ave Port Charlotte, FL	3.0	2.0	1428	$5,400	$3.78	23d	1	1.50mi

Listing history 21 events

1. 2026-06-22
   days on market $184,900 Active 58 DOM
2. 2026-06-18
   days on market $184,900 Active 55 DOM
3. 2026-06-17
   days on market $184,900 Active 54 DOM
4. 2026-06-16
   days on market $184,900 Active 53 DOM
5. 2026-06-15
   days on market $184,900 Active 52 DOM
6. 2026-06-14
   days on market $184,900 Active 50 DOM
7. 2026-06-13
   days on market $184,900 Active 49 DOM
8. 2026-06-10
   days on market $184,900 Active 47 DOM
9. 2026-06-09
   pricedays on market $184,900 Active 46 DOM
10. 2026-06-08
    days on market $194,900 Active 45 DOM
11. 2026-06-07
    days on market $194,900 Active 44 DOM
12. 2026-06-05
    days on market $194,900 Active 41 DOM
13. 2026-06-03
    days on market $194,900 Active 40 DOM
14. 2026-06-02
    days on market $194,900 Active 39 DOM
15. 2026-06-01
    days on market $194,900 Active 38 DOM
16. 2026-05-31
    days on market $194,900 Active 37 DOM
17. 2026-05-30
    days on market $194,900 Active 36 DOM
18. 2026-04-24
    listed $199,990 Active
19. 2004-03-24
    soldstatus $110,000
20. 1994-06-29
    soldstatus $50,000
21. 1994-06-29
    soldstatus $50,000

ⓘ 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: $3,017 · $251/mo
• Projected year-2 tax: $3,017 · $251/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 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 24 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: $25,595
• − Mortgage interest: −$10,357
• − Property taxes: −$3,017
• − Insurance: −$6,043
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$5,379
• Taxable loss: −$3,296
• Est. tax savings @ 24.0%: +$791
• After-tax cash flow: $316/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 — Port Charlotte

• Score: 65/100
• State rank: #655
• US rank: #13081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Charlotte, FL
• County: Charlotte County · 196,994 people
• City population: 102,180
• Metro: Punta Gorda, FL
• Population (ZIP): 18,696
• Household income: $62,744
• Rent vs Own: 13.8% rent · 86.2% own
• Severe rent burden: 501.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 2%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -55.31%
• Current HPI: 315.0548
• Rent YoY: ▼ -1.63%
• 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

+300.0% since first listed

4 events — show timeline

• 2026-04-24 Listed $199,990 Stellar MLS as Distributed by MLS Grid
• 2004-03-24 Sold (Public Records) $110,000 Public Records
• 1994-06-29 Sold (Public Records) $50,000 Public Records
• 1994-06-29 Sold (Public Records) $50,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $3,017 · +6.1% YoY. Source: county tax records.