12538 SW Kingsway Cir #505 · North Port, FL 34269

$149,000

2 bd · 2.0 ba · 871 sqft · Condo public records · 237 Days on market

Built 1987 $250/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 +19.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.2/10.0
• 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 MLS

If you’ve been waiting for an affordable winter place or a low-entry investment in Southwest Florida, this is the kind of opportunity that doesn’t sit long. Located in Lake Suzy, this waterfront condo has already had the big items handled. Fresh interior paint in August 2025, a 2023 kitchen remodel with updated cabinetry, countertops, range and microwave, plus luxury vinyl flooring for easy upkeep. No projects waiting for you. The lanai overlooks Lake Pookiehatchee, giving you the water view snowbirds love and seasonal renters actively search for. HOA is just $250/month and includes water, making your monthly numbers simple and predictable. Close to I-75, golf, and daily conveniences, this works as a full time residence, lock-and-leave winter retreat or a smart addition to your rental portfolio before next season demand picks up. If Florida is part of your plan, now is the time to secure it. Ask for a feature sheet.

Key facts

• Community pool
• Community clubhouse
• Refreshed kitchen

Tags

• FULL INTERIOR REPAINT
• REFRESHED KITCHEN
• LUXURY VINYL FLOORING
• TILED LANAI
• COMMUNITY CLUBHOUSE
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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 at typical pace (median 15d on market — plan ~3-4 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 $1k 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 237 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y 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 $88k; list at $149k implies a 68% 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 $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 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?
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 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: 1.17% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.93%
• DSCR: 1.22
• GRM: 7.1

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-13,088
• Equity at exit: $22,216

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,207
• Equity at exit: $12,883

Cash invested: $41,720 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$108 /mo · $1,300/yr
• Insurance: −$62
• HOA: −$250
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $172

Break-even live

Break-even rent $1,521

Max offer price $149,000

Occupancy floor 85%

Sensitivity live

Price	-10% $256	-5% $214	+0% $172	+5% $129	+10% $87
Rent	-10% $34	-5% $103	+0% $172	+5% $240	+10% $309
Rate	-1.0pp $247	-0.5pp $209	base $172	+0.5pp $133	+1.0pp $94

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: $37,250
• Closing costs: $4,470
• 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	22d	2	0.12mi
24150 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	866	$1,735	$2.00	14d	42	1.09mi
24001 Madaca Ln Port Charlotte, FL	1.0–3.0	1.0–2.0	1179	$1,720	$1.46	14d	26	1.15mi
24151 Beatrix Blvd Port Charlotte, FL	3.0	1.0–2.0	990	$1,955	$1.97	14d	28	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-04-22
   status Pending 941-char remark

   Show marketing remark (941 chars)

   If you’ve been waiting for an affordable winter place or a low-entry investment in Southwest Florida, this is the kind of opportunity that doesn’t sit long. Located in Lake Suzy, this waterfront condo has already had the big items handled. Fresh interior paint in August 2025, a 2023 kitchen remodel with updated cabinetry, countertops, range and microwave, plus luxury vinyl flooring for easy upkeep. No projects waiting for you. The lanai overlooks Lake Pookiehatchee, giving you the water view snowbirds love and seasonal renters actively search for. HOA is just $250/month and includes water, making your monthly numbers simple and predictable. Close to I-75, golf, and daily conveniences, this works as a full time residence, lock-and-leave winter retreat or a smart addition to your rental portfolio before next season demand picks up. If Florida is part of your plan, now is the time to secure it. Ask for a feature sheet.

2. 2026-04-22
   status Pending

   Show marketing remark (941 chars)

   If you’ve been waiting for an affordable winter place or a low-entry investment in Southwest Florida, this is the kind of opportunity that doesn’t sit long. Located in Lake Suzy, this waterfront condo has already had the big items handled. Fresh interior paint in August 2025, a 2023 kitchen remodel with updated cabinetry, countertops, range and microwave, plus luxury vinyl flooring for easy upkeep. No projects waiting for you. The lanai overlooks Lake Pookiehatchee, giving you the water view snowbirds love and seasonal renters actively search for. HOA is just $250/month and includes water, making your monthly numbers simple and predictable. Close to I-75, golf, and daily conveniences, this works as a full time residence, lock-and-leave winter retreat or a smart addition to your rental portfolio before next season demand picks up. If Florida is part of your plan, now is the time to secure it. Ask for a feature sheet.

3. 2026-02-26
   listed $149,000 Active 941-char remark

   Show marketing remark (941 chars)

   If you’ve been waiting for an affordable winter place or a low-entry investment in Southwest Florida, this is the kind of opportunity that doesn’t sit long. Located in Lake Suzy, this waterfront condo has already had the big items handled. Fresh interior paint in August 2025, a 2023 kitchen remodel with updated cabinetry, countertops, range and microwave, plus luxury vinyl flooring for easy upkeep. No projects waiting for you. The lanai overlooks Lake Pookiehatchee, giving you the water view snowbirds love and seasonal renters actively search for. HOA is just $250/month and includes water, making your monthly numbers simple and predictable. Close to I-75, golf, and daily conveniences, this works as a full time residence, lock-and-leave winter retreat or a smart addition to your rental portfolio before next season demand picks up. If Florida is part of your plan, now is the time to secure it. Ask for a feature sheet.

4. 2026-02-20
   price $149,000
5. 2026-02-20
   status Active
6. 2026-02-09
   historical
7. 2026-02-09
   historical
8. 2025-08-18
   listed $154,000 Active
9. 2025-08-17
   listed $154,000 Active
10. 2018-06-04
    soldstatus $88,500
11. 2018-06-01
    soldstatus $88,500 Sold
12. 2018-04-26
    status Pending
13. 2018-02-25
    listed $93,000 Active
14. 2009-12-10
    soldstatus $66,000
15. 2009-11-20
    soldstatus $66,000
16. 2009-10-08
    listed $69,900
17. 2008-06-04
    listed $85,000
18. 2007-11-20
    listed $110,900
19. 2007-02-09
    listed $142,900
20. 2000-03-03
    soldstatus $51,900
21. 1998-03-09
    soldstatus $45,000
22. 1987-03-24
    soldstatus $42,900

ⓘ 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: $1,300 · $108/mo
• Projected year-2 tax: $1,300 · $108/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: −$8,346
• − Property taxes: −$1,300
• − Insurance: −$745
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − HOA: −$3,000
• − Depreciation: −$4,335
• Taxable loss: −$203
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $2,107/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

+247.3% since first listed

22 events — show timeline

• 2026-04-22 Pending — FORTMLS
• 2026-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Listed $149,000 FORTMLS
• 2026-02-20 Price Changed $149,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Listing Removed — FORTMLS
• 2026-02-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-18 Listed $154,000 FORTMLS
• 2025-08-17 Listed $154,000 Stellar MLS as Distributed by MLS Grid
• 2018-06-04 Sold (Public Records) $88,500 Public Records
• 2018-06-01 Sold (MLS) $88,500 Stellar MLS as Distributed by MLS Grid
• 2018-04-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-02-25 Listed $93,000 Stellar MLS as Distributed by MLS Grid
• 2009-12-10 Sold (Public Records) $66,000 Public Records
• 2009-11-20 Sold (MLS) $66,000 Stellar MLS as Distributed by MLS Grid
• 2009-10-08 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2008-06-04 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 2007-11-20 Listed $110,900 Stellar MLS as Distributed by MLS Grid
• 2007-02-09 Listed $142,900 Stellar MLS as Distributed by MLS Grid
• 2000-03-03 Sold (Public Records) $51,900 Public Records
• 1998-03-09 Sold (Public Records) $45,000 Public Records
• 1987-03-24 Sold (Public Records) $42,900 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,300 · +7.5% YoY. Source: county tax records.