1337 Sheehan Blvd

Port Charlotte, FL 33952

$220,000F

3 bd · 1.0 ba · 904 sqft · Built 1984 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,599/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$336
• Net cashflow: $-78/mo
• Annual: $-933/yr
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• 1% rule: 0.73%
• Cash to close: $61,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-78 ($-933/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (27.3% below list).
• It's been on market 47 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (27.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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: Neil Armstrong Elementary School (math 66% / reading 63%, grade B, #525 of 2,144 statewide, top 26%, 780 students, 63% FRL); Port Charlotte Middle School (math 59% / reading 50%, grade B-, #183 of 571 statewide, top 34%, 877 students, 55% 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 54% FRL track the district average.
• Market conditions: Rents soft (-1.4%/yr); 712 active listings in the ZIP; 8 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).
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; list at $220k implies a 60% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate 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.
• Cap rate 5.9% 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.
• This rent runs 31% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.