23249 Mcmullen Ave · Port Charlotte, FL 33980

$294,990

4 bd · 2.0 ba · 1,426 sqft · Land · 25 Days on market

Built 2026 9,999 sqft lot

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Why this score? — see what drove the F 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 +9.5/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under Construction. NEW BUILD - Anticipated completion date is May 15, 2026. SPECIAL INCENTIVES: 4.75% fixed rate FHA/VA financing with $5K closing cost assistance OR 3.99% FHA/VA 5-YEAR ARM + UP to $10K in closing cost assistance/ prepaids OR UP to $20K toward closing cost when using a preferred lender. The 1,426 -square-foot (air-conditioned) Windsor plan boasts a well-designed open floor plan that includes four bedrooms, two bathrooms, and a two-car garage. The kitchen boasts upgraded 30” contemporary shaker-style cabinets, a spacious kitchen island with upgraded quartz countertops, Whirlpool dishwasher, microwave, and range, refrigerator, washer & dryer. The Kitchen overloo

Key facts

• Open floor plan
• Quartz countertops
• Vaulted ceilings

Tags

• OPEN FLOOR PLAN
• UPGRADED CABINETS
• SPACIOUS KITCHEN ISLAND
• QUARTZ COUNTERTOPS
• TILE-PLANK FLOORING
• VAULTED CEILINGS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $295k.

Deal economics

• At list price, monthly cash flow is $-274 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (21.4% below list).
• Recommended offer: $232k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.4% in Port Charlotte — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D+, employment D, 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; 11 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).
• This rent runs 44% of the median local income ($64k/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 $2k of loan paydown is wiped out by about $9k 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 25 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $20k; list at $295k implies a 1413% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major 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 $231,807 (21.4% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.79% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.01%
• DSCR: 0.87
• GRM: 10.6

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: -26.5%
• Equity multiple: 0.13×
• Total profit: $-71,957
• Equity at exit: $43,984

10-year hold

• IRR: -39.0%
• Equity multiple: -0.34×
• Total profit: $-111,058
• Equity at exit: $25,505

Cash invested: $82,597 (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: 10.6×

Monthly cashflow live

• Estimated rent: $2,318 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $-274

Break-even live

Break-even rent $2,665

Max offer price $255,372

Occupancy floor —

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: $73,748
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23367 Mayville Ave Punta Gorda, FL	4.0	2.0	1532	$2,300	$1.50	21d	1	0.25mi
3185 Clifford St Port Charlotte, FL	3.0	2.0	1776	$2,400	$1.35	13d	1	0.51mi
24055 Peaceful Brook Loop Punta Gorda, FL	3.0–5.0	2.0–3.0	2138	$2,242	$1.05	13d	4	0.97mi
2377 Starlite Ln Port Charlotte, FL	3.0	1.5	1253	$1,575	$1.26	21d	1	1.04mi
1516 Abel St Port Charlotte, FL	3.0	2.0	1874	$2,200	$1.17	21d	1	1.04mi
22148 Lockport Ave Port Charlotte, FL	3.0	2.0	1760	$1,850	$1.05	13d	1	1.21mi
22497 Glen Ave Punta Gorda, FL	3.0	2.0	1628	$1,875	$1.15	21d	1	1.24mi
22017 Beverly Ave Port Charlotte, FL	3.0	2.0	1472	$1,600	$1.09	13d	1	1.28mi
1314 Beacon Dr Port Charlotte, FL	3.0	2.0	1783	$2,500	$1.40	21d	1	1.37mi
22137 Midway Blvd Port Charlotte, FL	4.0	1.0	1500	$1,350	$0.90	21d	1	1.38mi
21988 Cellini Ave Port Charlotte, FL	4.0	3.0	1500	$2,000	$1.33	21d	1	1.48mi

Listing history 9 events

1. 2026-04-24
   status Pending
2. 2026-03-30
   listed $294,990 Active
3. 2025-10-02
   soldstatus $19,500
4. 2023-06-01
   historical
5. 2023-01-20
   price $34,999
6. 2022-01-26
   listed $40,000 Active
7. 2005-07-29
   soldstatus $1,122,000
8. 2003-09-19
   soldstatus $5,000
9. 1988-03-01
   soldstatus $15,500

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,817
• − Mortgage interest: −$16,524
• − Property taxes: −$4,425
• − Insurance: −$2,272
• − Repairs & maintenance: −$2,225
• − Management: −$2,225
• − Depreciation: −$8,582
• Taxable loss: −$8,437
• Est. tax savings @ 24.0%: +$2,025
• After-tax cash flow: $-1,261/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): 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

+1803.2% since first listed

9 events — show timeline

• 2026-04-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Listed $294,990 Stellar MLS as Distributed by MLS Grid
• 2025-10-02 Sold (Public Records) $19,500 Public Records
• 2023-06-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-01-20 Price Changed $34,999 Stellar MLS as Distributed by MLS Grid
• 2022-01-26 Listed $40,000 Stellar MLS as Distributed by MLS Grid
• 2005-07-29 Sold (Public Records) $1,122,000 Public Records
• 2003-09-19 Sold (Public Records) $5,000 Public Records
• 1988-03-01 Sold (Public Records) $15,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $572 · -1.6% YoY. Source: county tax records.