12538 SW Kingsway Cir #902 · North Port, FL 34269

$140,000

2 bd · 2.0 ba · 871 sqft · Condo public records · 50 Days on market

Built 1987 $236/mo HOA · 14% 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 +19.4/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +6.1/10.0
• 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

Wake up to peaceful lake views in this charming 2-bedroom, 2-bath ground floor condo nestled in the heart of Lake Suzy. Built in 1987, this well maintained residence offers a comfortable and inviting layout perfect for year-round living or a seasonal retreat. Enjoy a bright and airy living space that flows effortlessly to your private lanai, where you can relax with your morning coffee while taking in serene waterfront scenery. The spacious primary suite features its own en-suite bath and large walk-in closet, while the second bedroom provides flexibility for guests or a home office. Interior laundry for added convenience. Whether you're looking to unwind at the swimming pool, explore nearb

Key facts

• Interior laundry
• Lake views
• Swimming pool

Tags

• LAKE VIEWS
• PRIVATE LANAI
• EN-SUITE BATH
• LARGE WALK-IN CLOSET
• INTERIOR LAUNDRY
• SWIMMING POOL

Property features AI

Finance

• Other: Furnished; Total rooms: 6
• Financial info: Lease restrictions apply
• HOA & community: Association managed by Ana Ruzzano - Star Hospitality Management Inc; Monthly condo fee approximately $237 (quarterly term noted; condo fees listed as $710 quarterly); Association includes pool; Community features: pool, deed restrictions, street lights; Pets allowed (cats and dogs) with limits; max pet weight 25 lbs; Association approval required for buyers

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Cable available; Underground utilities; Water connected; Sewer connected
• Home design: Condominium (attached); Completed condition; South-facing; One-level unit (floor 1); 2-story building
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Building name/number: 900; Built as part of a multi-family/residential condominium
• Exterior features: Sliding doors; In-ground heated pool; Lake view

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combo; Thermostat
• Laundry & utility: Washer; Dryer; Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $968 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 50 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $61k; list at $140k implies a 128% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 6.7

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-12,581
• Equity at exit: $20,874

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $2,555
• Equity at exit: $12,105

Cash invested: $39,200 (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 34269

• Home prices YoY: -2.9%
• Active inventory: 149
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$189 /mo · $2,268/yr
• Insurance: −$58
• HOA: −$236
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $156

Break-even live

Break-even rent $1,541

Max offer price $140,000

Occupancy floor 86%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	21d	2	0.12mi
24150 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	866	$1,735	$2.00	13d	42	1.09mi
24001 Madaca Ln Port Charlotte, FL	1.0–3.0	1.0–2.0	1179	$1,720	$1.46	13d	26	1.15mi
24151 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	990	$1,955	$1.97	13d	28	1.49mi

HOA detail condo

• Monthly dues: $236 · $2,832/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $140,000 Active 50 DOM
2. 2026-06-17
   days on market $140,000 Active 49 DOM
3. 2026-06-16
   days on market $140,000 Active 48 DOM
4. 2026-06-15
   days on market $140,000 Active 47 DOM
5. 2026-06-14
   days on market $140,000 Active 45 DOM
6. 2026-06-13
   days on market $140,000 Active 44 DOM
7. 2026-06-10
   days on market $140,000 Active 42 DOM
8. 2026-06-09
   days on market $140,000 Active 41 DOM
9. 2026-06-08
   days on market $140,000 Active 40 DOM
10. 2026-06-07
    days on market $140,000 Active 39 DOM
11. 2026-06-02
    days on market $140,000 Active 34 DOM
12. 2026-06-01
    days on market $140,000 Active 33 DOM
13. 2026-05-31
    days on market $140,000 Active 32 DOM
14. 2026-05-30
    days on market $140,000 Active 31 DOM
15. 2026-05-16
    price $140,000
16. 2026-04-29
    listed $155,000 Active
17. 2002-07-08
    soldstatus $61,300
18. 2001-04-17
    soldstatus $57,000

ⓘ 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: $2,268 · $189/mo
• Projected year-2 tax: $2,268 · $189/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,861
• − Mortgage interest: −$7,842
• − Property taxes: −$2,268
• − Insurance: −$700
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − HOA: −$2,832
• − Depreciation: −$4,073
• Taxable loss: −$192
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $1,916/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

+145.6% since first listed

4 events — show timeline

• 2026-05-16 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-29 Listed $155,000 Stellar MLS as Distributed by MLS Grid
• 2002-07-08 Sold (Public Records) $61,300 Public Records
• 2001-04-17 Sold (Public Records) $57,000 Public Records

Property tax history

+14.4%/yr

Latest (2025): $2,268 · +1.7% YoY. Source: county tax records.