2090 Big Pass Ln Unit D · Burnt Store Marina, FL 33955

$319,000

3 bd · 2.0 ba · 1,464 sqft · Condo public records · 200 Days on market

Built 2002 $612/mo HOA · 13% of rent ↓ 36% since listing

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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 +26.2/30.0
• 1% rule +9.2/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Golf Fox Condos, an exclusive 8-unit community within the beautiful Burnt Store Marina. Nestled amid serene and captivating surroundings, this gated community offers a true sanctuary of tranquility. This second-floor condo features 3 bedrooms, 2 baths, and 1,464 sq. ft. of thoughtfully designed living space. The cozy kitchen, complete with granite countertops, opens seamlessly into the main living area, creating a bright, airy flow that extends to your private enclosed lanai. Elegant tile flooring, soft neutral tones, and plantation shutters add timeless charm throughout. From your living space, enjoy peaceful, private views of the golf course framed by lush tropical vegetation.

Key facts

• Gas fireplace
• $612 HOA
• Garage

Tags

• PRIVATE ENCLOSED LANAI
• VIEWS OF THE GOLF COURSE
• GAS FIREPLACE
• EXCLUSIVE 8 UNIT COMMUNITY

Property features AI

Finance

• Other: Pets allowed: cats and dogs (per community rules)
• Financial info: Total annual fees: $7,350; Total monthly fees: $612.50; Lease restrictions apply
• HOA & community: Monthly condo fee of $500; Association fee of $1,350 annually (secondary association); HOA required; Association management by Alliant Property Management and Burnt Store Marina; Association fee includes 24-hour guard; Community amenities: clubhouse, fitness center, pool, tennis courts, golf, golf carts allowed, dog park, sidewalks, deed restrictions, reclaimed water irrigation

Exterior

• Parking: Attached garage with garage door opener; 1-car garage; Ground-level parking
• Security: Gated community with security gate and security lights; 24-hour guard included in association amenities
• Utilities: Public water; Public sewer; Electricity available; Water connected
• Home design: Residential condominium; Attached property; Single-story (one level); Faces east; Floor 1
• Construction: Stucco and frame construction; Metal roof; Slab foundation; Completed condition
• Exterior features: Enclosed patio/porch; Balcony; Sliding doors; Mature landscaping; Paved road access; Irrigation equipment

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Open floorplan; Split bedroom layout; Walk-in closets; Blinds and shutters; Electric fireplace
• Laundry & utility: Washer and dryer included; Gas dryer hookup; Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $319k).
• Recommended offer: $281k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.8% in Burnt Store Marina — 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 72/100 on livability (#354 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Diplomat Elementary School (math 67% / reading 60%, grade B, #564 of 2,144 statewide, top 27%, 1,069 students, 56% FRL); Mariner High School (math 31% / reading 40%, grade F, #367 of 667 statewide, top 57%, 1,852 students, 42% FRL).
• Market conditions: 1481 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,538/mo this rent would consume 71% of the median local household income ($77k/yr) (locally 226% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $89k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $36k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 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. 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 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: 1.42% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• GRM: 5.9

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $614
• Equity at exit: $47,564

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $69,040
• Equity at exit: $27,581

Cash invested: $89,320 (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 33955

• Home prices YoY: -24.5%
• Active inventory: 1481
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,538 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$352 /mo · $4,228/yr
• Insurance: −$133
• HOA: −$612
• Vacancy / Maint / Mgmt: −$953
• Net cashflow: $815

Break-even live

Break-even rent $3,506

Max offer price $319,000

Occupancy floor 77%

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2091 King Tarpon Dr Punta Gorda, FL	3.0	2.0	1640	$5,200	$3.17	23d	1	0.20mi
3001 King Tarpon Dr Punta Gorda, FL	3.0	2.0	1734	$5,500	$3.17	23d	1	0.21mi
4005 Big Pass Ln Punta Gorda, FL	2.0	2.0	1423	$5,500	$3.87	15d	1	0.26mi
1001 Islamorada Blvd Unit 12A Punta Gorda, FL	2.0	2.0	1365	$1,600	$1.17	15d	1	0.27mi
5050 Marianne Key Rd Unit 1B Punta Gorda, FL	2.0	2.0	1347	$4,500	$3.34	15d	1	0.28mi
1010 Islamorada Blvd Punta Gorda, FL	3.0	2.0	1592	$4,700	$2.95	23d	1	0.32mi
24417 Baltic Ave #1102 Punta Gorda, FL	2.0	2.0	1788	$5,250	$2.94	23d	1	0.46mi
1610 Islamorada Blvd Unit 64A Punta Gorda, FL	2.0	2.0	1516	$2,000	$1.32	23d	1	0.63mi
17434 Oro Ct Punta Gorda, FL	3.0	2.5	1864	$2,000	$1.07	21d	1	0.73mi
5 Pirates Ln Unit 54B Punta Gorda, FL	2.0	2.0	1516	$4,600	$3.03	23d	1	0.75mi
17947 Courtside Landings Cir Punta Gorda, FL	3.0	2.0	1338	$5,500	$4.11	23d	1	0.75mi
3020 Matecumbe Key Rd #103 Punta Gorda, FL	2.0	2.0	1148	$5,200	$4.53	23d	1	0.81mi
2060 Matecumbe Key Rd Punta Gorda, FL	2.0–3.0	2.0	1271	$5,400	$4.25	23d	3	0.88mi
3170 Matecumbe Key Rd #134 Punta Gorda, FL	2.0	2.0	1188	$1,899	$1.60	23d	1	0.98mi
3255 Sugarloaf Key Rd Unit 31B Punta Gorda, FL	2.0	2.0	1516	$3,000	$1.98	15d	1	0.99mi
3191 Matecumbe Key Rd #206 Punta Gorda, FL	2.0	2.0	1102	$4,400	$3.99	23d	1	1.04mi
3181 Matecumbe Key Rd Punta Gorda, FL	2.0	2.0	1254	$2,450	$1.95	23d	2	1.11mi
3313 Sunset Key Cir Punta Gorda, FL	3.0	2.0–3.0	2089	$6,750	$3.23	23d	4	1.12mi

HOA detail condo

• Monthly dues: $612 · $7,344/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-01
   days on market $319,000 Active 200 DOM
2. 2026-02-26
   price $319,000
3. 2026-01-13
   price $339,000
4. 2025-11-12
   listed $355,000 Active
5. 2022-06-01
   soldstatus $250,000
6. 2018-05-28
   historical
7. 2018-04-24
   historical
8. 2018-02-19
   listed $195,000 Active
9. 2017-11-08
   listed $195,000
10. 2017-05-15
    historical
11. 2017-01-09
    listed $210,000
12. 2004-04-21
    soldstatus $175,000
13. 2002-08-27
    soldstatus $500,000

ⓘ 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: $4,228 · $352/mo
• Projected year-2 tax: $4,228 · $352/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 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,453
• − Mortgage interest: −$17,869
• − Property taxes: −$4,228
• − Insurance: −$1,595
• − Repairs & maintenance: −$4,356
• − Management: −$4,356
• − HOA: −$7,344
• − Depreciation: −$9,280
• Taxable income: $5,425
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $8,475/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: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Burnt Store Marina

• Score: 72/100
• State rank: #354
• US rank: #6145

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnt Store Marina, FL
• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 12,399
• Household income: $76,943
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 226.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 4%
• Common ancestry: Romanian 5% Italian 3% Serbian 3%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.71%
• Current HPI: 242.9043
• Rent YoY: —
• 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

-36.2% since first listed

12 events — show timeline

• 2026-02-26 Price Changed $319,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $339,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-12 Listed $355,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-01 Sold (Public Records) $250,000 Public Records
• 2018-05-28 Listing Removed — FORTMLS
• 2018-04-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-02-19 Listed $195,000 FORTMLS
• 2017-11-08 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2017-05-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2017-01-09 Listed $210,000 Stellar MLS as Distributed by MLS Grid
• 2004-04-21 Sold (Public Records) $175,000 Public Records
• 2002-08-27 Sold (Public Records) $500,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $4,228 · +9.3% YoY. Source: county tax records.