1405 Persay Dr · Cleveland, FL 33982

$65,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 214 Days on market

Built 1971 0.25 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks

Investor Special – Great Opportunity! Bring your vision and make this property shine again! Located in the desirable Creekside community of Punta Gorda, this home presents a fantastic investment or renovation opportunity. The structure is in need of a complete renovation from top to bottom — a true blank slate ready for your personal touch or redevelopment plans. With its prime location close to I-75, shopping, dining, and downtown Punta Gorda, the potential here is tremendous. Whether you’re looking to flip, rebuild, or add to your investment portfolio, this property offers a rare chance to create significant value in a sought-after neighborhood.

Key facts

• Complete renovation
• Creekside community
• Prime location

Tags

• CREEKSIDE COMMUNITY
• COMPLETE RENOVATION
• PRIME LOCATION
• SOUGHT-AFTER NEIGHBORHOOD

Property features AI

Finance

• Other: Zoning: RSF5; Property ID available
• Financial info: Property is homesteaded; No CDD; Lot approximately 0.25 acres (about 76 x 146)
• HOA & community: Pets allowed; No association approval required

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Electricity available; Broadband/high-speed internet available
• Home design: Single-family residence; Residential property in fixer condition; One story; Faces east; Entry level: One
• Construction: Stucco and frame construction; Other roof type; Slab foundation; Built area about 924 living area (public records)
• Exterior features: Outdoor shower; Storage structure on property; Asphalt-paved road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms
• Flooring: Concrete flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: No notable interior features listed
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.2% vs local median 4.8% in Cleveland — 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 67/100 on livability (#574 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, 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: East Elementary School (math 67% / reading 68%, grade B+, #435 of 2,144 statewide, top 21%, 761 students, 52% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 1037 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $34k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $65k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 2.82% ✓
• Cap rate: 24.22%
• Cash-on-cash: 64.02%
• DSCR: 3.85
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $380,688
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5052 Duncan Rd	0.11mi	2/1.0	960 (+4%)	20mo	$395,500	$412	72
5727 Beechwood St	0.38mi	2/1.0	952 (+3%)	24mo	$125,000	$131	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.13% rent growth · sell at horizon

5-year hold

• IRR: 59.8%
• Equity multiple: 3.71×
• Total profit: $49,272
• Equity at exit: $9,692

10-year hold

• IRR: 64.9%
• Equity multiple: 7.94×
• Total profit: $126,286
• Equity at exit: $5,620

Cash invested: $18,200 (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 33982

• Home prices YoY: -1.2%
• Rents YoY: 4.1%
• Active inventory: 1037
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,833 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $905

Break-even live

Break-even rent $688

Max offer price $65,000

Occupancy floor 46%

Sensitivity live

Price	-10% $941	-5% $923	+0% $905	+5% $886	+10% $868
Rent	-10% $760	-5% $832	+0% $905	+5% $977	+10% $1,049
Rate	-1.0pp $937	-0.5pp $921	base $905	+0.5pp $888	+1.0pp $871

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Coquina Esplanade Punta Gorda, FL	1.0	1.0	576	$1,450	$2.52	21d	1	1.07mi

Listing history 23 events

1. 2026-06-18
   days on market $65,000 Active 214 DOM
2. 2026-06-18
   price $65,000 Active 213 DOM
3. 2026-06-17
   days on market $75,000 Active 213 DOM
4. 2026-06-16
   days on market $75,000 Active 212 DOM
5. 2026-06-15
   days on market $75,000 Active 211 DOM
6. 2026-06-14
   days on market $75,000 Active 209 DOM
7. 2026-06-13
   days on market $75,000 Active 208 DOM
8. 2026-06-10
   days on market $75,000 Active 206 DOM
9. 2026-06-09
   days on market $75,000 Active 205 DOM
10. 2026-06-08
    days on market $75,000 Active 204 DOM
11. 2026-06-05
    days on market $75,000 Active 200 DOM
12. 2026-06-02
    days on market $75,000 Active 198 DOM
13. 2026-06-01
    days on market $75,000 Active 197 DOM
14. 2026-05-31
    days on market $75,000 Active 196 DOM
15. 2026-05-30
    days on market $75,000 Active 195 DOM
16. 2026-05-21
    status Active
17. 2026-05-15
    status Pending
18. 2026-03-04
    status Active
19. 2026-02-26
    status Pending
20. 2026-02-17
    price $75,000
21. 2026-01-22
    price $89,000
22. 2025-11-04
    listed $99,000 Active
23. 1999-04-15
    soldstatus $24,000

ⓘ 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: $1,307 · $109/mo
• Projected year-2 tax: $1,307 · $109/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 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 27 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: $21,993
• − Mortgage interest: −$3,641
• − Property taxes: −$1,307
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$1,891
• Taxable income: $10,513
• Est. tax owed @ 24.0%: −$2,523
• After-tax cash flow: $8,332/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 — Cleveland

• Score: 67/100
• State rank: #574
• US rank: #10905

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, FL
• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 13,006
• Household income: $72,443
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 43.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 7% Black 7%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 3% Iranian 3% Slovak 3%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Arabic 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: ▼ -5.25%
• Current HPI: 448.5895
• Rent YoY: ▲ 4.13%
• 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

+212.5% since first listed

8 events — show timeline

• 2026-05-21 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-04 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-17 Price Changed $75,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-22 Price Changed $89,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 1999-04-15 Sold (Public Records) $24,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,307 · -6.7% YoY. Source: county tax records.