17508 Waco Ave

Port Charlotte, FL 33948

$339,900F

4 bd · 2.0 ba · 1,914 sqft · Built 2026 · Land · Pending · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,341/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$993
• HOA: −$0
• Vac / Maint / Mgmt: −$492
• Net cashflow: $-926/mo
• Annual: $-11,115/yr
• Cap rate: 4.53%
• Cash-on-cash: -6.30%
• DSCR: 0.72
• 1% rule: 0.69%
• Cash to close: $95,172

Investor read

• This is a 4-bed/2.0-bath land listed at $340k.
• At list price, monthly cash flow is $-926 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (39.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (31.1% below list).
• It's been on market 108 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $206k (39.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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: Myakka River Elementary School (math 65% / reading 60%, grade B, #601 of 2,144 statewide, top 28%, 608 students, 51% FRL); Lemon Bay High School (math 50% / reading 56%, grade C-, #148 of 667 statewide, top 23%, 1,360 students, 28% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-1.6%/yr); 953 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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.
• 3 sale attempts since 9y 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.
• 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 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 45% of the median local income ($63k/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 108 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.