23440 Corinne Ave · Port Charlotte, FL 33980

$289,900

3 bd · 2.0 ba · 1,439 sqft · Land · 163 Days on market

Built 2025 9,999 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Rent growth +1.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATED SELLER!. .Quick move in home in great location, near Kings Hwy and Tamiami Trail for a quick drive over the Peace River to the waterfront and downtown amenities of Punta Gorda! Nice open floor plan with 3 bedrooms, 2 bathrooms, a 2-car garage, a large great room with vaulted ceilings, a master suite with a large walk-in closet, and a private bath with a glass-enclosed luxury tile shower. This home has an open kitchen with a center island that features granite countertops and plenty of cabinetry. The kitchen has 36-inch staggered Shaker-style upper cabinets with soft-close wood cabinetry, a stainless steel appliance package with a double-door refrigerator included. Features also in

Key facts

• Master suite
• Open floor plan
• Walk-in closet

Tags

• OPEN FLOOR PLAN
• LARGE GREAT ROOM
• MASTER SUITE
• WALK-IN CLOSET
• PRIVATE BATH
• GLASS-ENCLOSED TILE SHOWER

Property features AI

Exterior

• Home design: House
• Exterior features: Lot approximately 9,999 (unit not specified)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $290k.

Deal economics

• At list price, monthly cash flow is $-479 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (30.5% below list).
• Recommended offer: $201k (30.5% below list) — sets the bar for 1% rule.

Location & tenants

• 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: Peace River Elementary School (math 56% / reading 54%, grade C, #872 of 2,144 statewide, top 42%, 581 students, 64% FRL); Port Charlotte Middle School (math 59% / reading 50%, grade B-, #183 of 571 statewide, top 34%, 877 students, 55% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents falling (-4.0%/yr); 603 active listings in the ZIP; 29 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).
• This rent runs 38% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 18y 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.

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 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,431 (30.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 4.59%
• Cash-on-cash: -6.09%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -32.1%
• Equity multiple: -0.03×
• Total profit: $-83,290
• Equity at exit: $43,225

10-year hold

• IRR: -59.3%
• Equity multiple: -0.65×
• Total profit: $-134,301
• Equity at exit: $25,065

Cash invested: $81,172 (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 33980

• Home prices YoY: -5.0%
• Rents YoY: -4.0%
• Active inventory: 603
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,014 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-479

Break-even live

Break-even rent $2,620

Max offer price $220,648

Occupancy floor —

Sensitivity live

Price	-10% $-278	-5% $-378	+0% $-479	+5% $-579	+10% $-679
Rent	-10% $-638	-5% $-558	+0% $-479	+5% $-399	+10% $-319
Rate	-1.0pp $-333	-0.5pp $-405	base $-479	+0.5pp $-554	+1.0pp $-630

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24055 Peaceful Brook Loop Punta Gorda, FL	3.0–5.0	2.0–3.0	2138	$2,183	$1.02	15d	4	0.25mi
24145 Green Heron Dr Port Charlotte, FL	2.0	2.0	1512	$1,900	$1.26	23d	1	0.42mi
23067 Elmira Blvd Punta Gorda, FL	2.0	2.0	1052	$1,750	$1.66	23d	1	0.69mi
23367 Mayville Ave Punta Gorda, FL	4.0	2.0	1532	$2,300	$1.50	23d	1	0.72mi
3185 Clifford St Port Charlotte, FL	3.0	2.0	1776	$2,400	$1.35	15d	1	0.75mi
4024 Oakview Dr Unit I3 Punta Gorda, FL	2.0	2.0	893	$1,900	$2.13	23d	1	0.80mi
4016 Oakview Dr Unit J9 Punta Gorda, FL	2.0	2.0	893	$2,400	$2.69	23d	1	0.82mi
4056 Oakview Dr Unit E7 Punta Gorda, FL	2.0	2.0	892	$3,000	$3.36	23d	1	0.86mi
22497 Glen Ave Punta Gorda, FL	3.0	2.0	1628	$1,875	$1.15	23d	1	0.92mi
23465 Harborview Rd Port Charlotte, FL	2.0	2.0	1480	$1,975	$1.33	23d	2	0.96mi
22481 Westchester Blvd Unit B48 Punta Gorda, FL	2.0	2.0	1046	$1,150	$1.10	23d	1	1.01mi
22481 Westchester Blvd Unit B40 Punta Gorda, FL	2.0	2.0	1046	$1,225	$1.17	15d	1	1.03mi
22481 Westchester Blvd Unit B35 Punta Gorda, FL	2.0	2.0	1046	$1,275	$1.22	23d	1	1.04mi
22481 Westchester Blvd Unit B36 Port Charlotte, FL	2.0	2.0	1046	$1,180	$1.13	15d	1	1.05mi
4022 Beaver Ln Port Charlotte, FL	2.0	2.0	960	$1,300	$1.35	23d	2	1.10mi
22441 Westchester Blvd Unit 1500G Punta Gorda, FL	2.0	2.0	960	$1,200	$1.25	15d	1	1.10mi
23491 Harper Ave Punta Gorda, FL	3.0	2.0	1382	$1,450	$1.05	23d	1	1.11mi
24717 Snook Ave Unit 11 D Punta Gorda, FL	3.0	2.0	1500	$2,000	$1.33	23d	1	1.15mi
22328 Yonkers Ave Port Charlotte, FL	2.0	2.0	1342	$1,575	$1.17	23d	1	1.20mi
2421 Ivanhoe St Port Charlotte, FL	2.0	2.0	1396	$3,300	$2.36	15d	1	1.21mi
4158 Tamiami Trl Unit M4 Port Charlotte, FL	2.0	2.0	919	$1,500	$1.63	23d	1	1.29mi
2451 Aquilos Ct Port Charlotte, FL	2.0	2.0	1307	$2,000	$1.53	15d	1	1.31mi
25038 Harborview Rd Unit B Punta Gorda, FL	2.0	2.0	1188	$1,600	$1.35	23d	1	1.34mi
22291 Westchester Blvd Port Charlotte, FL	2.0	2.0	960	$1,425	$1.48	23d	2	1.34mi
22291 Westchester Blvd Port Charlotte, FL	2.0	2.0	960	$1,400	$1.46	15d	3	1.34mi
4359 Sibley Bay St Unit b Port Charlotte, FL	2.0	2.0	887	$1,300	$1.47	23d	1	1.37mi
25068 Harbor View Rd Punta Gorda, FL	2.0	2.0	956	$1,500	$1.57	23d	1	1.38mi
5125 Melbourne St Unit E201 Punta Gorda, FL	3.0	2.5	1831	$1,750	$0.96	15d	1	1.49mi
5125 Melbourne St Unit E201 Punta Gorda, FL	3.0	2.5	1831	$1,750	$0.96	23d	1	1.49mi

Listing history 50 events

1. 2026-06-22
   days on market $289,900 Active 163 DOM
2. 2026-06-18
   days on market $289,900 Active 160 DOM
3. 2026-06-17
   days on market $289,900 Active 159 DOM
4. 2026-06-16
   days on market $289,900 Active 158 DOM
5. 2026-06-15
   days on market $289,900 Active 157 DOM
6. 2026-06-14
   days on market $289,900 Active 155 DOM
7. 2026-06-13
   days on market $289,900 Active 154 DOM
8. 2026-06-10
   days on market $289,900 Active 152 DOM
9. 2026-06-09
   days on market $289,900 Active 151 DOM
10. 2026-06-08
    days on market $289,900 Active 150 DOM
11. 2026-06-05
    days on market $289,900 Active 146 DOM
12. 2026-06-02
    days on market $289,900 Active 144 DOM
13. 2026-06-01
    days on market $289,900 Active 143 DOM
14. 2026-05-31
    days on market $289,900 Active 142 DOM
15. 2026-05-30
    days on market $289,900 Active 141 DOM
16. 2026-05-01
    soldstatus $277,000
17. 2026-03-28
    historical
18. 2026-02-05
    price $279,900
19. 2026-01-09
    listed $289,900 Active
20. 2026-01-07
    price $289,900
21. 2025-12-31
    historical
22. 2025-12-31
    historical
23. 2025-12-21
    price $299,900
24. 2025-12-21
    price $299,900
25. 2025-12-21
    price $299,900
26. 2025-12-12
    price $309,900
27. 2025-12-09
    listed $309,000 Active
28. 2025-12-05
    historical
29. 2025-11-24
    price $309,900
30. 2025-11-19
    price $299,900
31. 2025-11-19
    price $299,900
32. 2025-10-30
    price $309,000
33. 2025-10-05
    listed $319,000 Active
34. 2025-09-30
    listed $319,900 Active
35. 2025-09-23
    listed $319,900 Active
36. 2025-09-07
    historical
37. 2025-09-02
    listed $319,900 Active
38. 2025-09-02
    historical
39. 2025-08-22
    historical
40. 2025-08-12
    price $319,900
41. 2025-08-11
    price $319,900
42. 2025-08-11
    historical
43. 2025-07-21
    price $329,900
44. 2025-07-21
    status Active
45. 2025-06-30
    listed $329,900 Active
46. 2025-06-26
    historical
47. 2025-06-23
    listed $329,900 Active
48. 2025-05-30
    listed $330,000 Active
49. 2024-10-29
    soldstatus $641,900
50. 2021-04-14
    status Pending

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 5 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,172
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$2,247
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$8,433
• Taxable loss: −$10,964
• Est. tax savings @ 24.0%: +$2,631
• After-tax cash flow: $-3,112/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 — Port Charlotte

• Score: 65/100
• State rank: #655
• US rank: #13081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Charlotte, FL
• County: Charlotte County · 196,994 people
• City population: 102,180
• Metro: Punta Gorda, FL
• Population (ZIP): 13,120
• Household income: $63,591
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 612.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Two or more races 10% Black 9%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2% Dominican 2%
• Common ancestry: Romanian 5% Hispanic 4% Slovak 3%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% German/W. Germanic 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: ▼ -16.02%
• Current HPI: 306.3331
• Rent YoY: ▼ -4.04%
• 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

+2698.0% since first listed

43 events — show timeline

• 2026-05-01 Sold (Public Records) $277,000 Public Records
• 2026-03-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-02-05 Price Changed $279,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Listed $289,900 ForSaleByOwner.com
• 2026-01-07 Price Changed $289,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — SCMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-12-21 Price Changed $299,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-21 Price Changed $299,900 MARMLS
• 2025-12-21 Price Changed $299,900 SCMLS
• 2025-12-12 Price Changed $309,900 SCMLS
• 2025-12-09 Listed $309,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-24 Price Changed $309,900 MARMLS
• 2025-11-19 Price Changed $299,900 SCMLS
• 2025-11-19 Price Changed $299,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $309,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-05 Listed $319,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-30 Listed $319,900 SCMLS
• 2025-09-23 Listed $319,900 MARMLS
• 2025-09-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-09-02 Listing Removed — SCMLS
• 2025-09-02 Listed $319,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-12 Price Changed $319,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-11 Price Changed $319,900 SCMLS
• 2025-08-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $329,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-21 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-06-30 Listed $329,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-06-23 Listed $329,900 SCMLS
• 2025-05-30 Listed $330,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-29 Sold (Public Records) $641,900 Public Records
• 2021-04-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-04-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-04-01 Listed $249,900 Stellar MLS as Distributed by MLS Grid
• 2021-03-24 Sold (Public Records) $10,000 Public Records
• 2021-03-24 Sold (MLS) $10,000 Stellar MLS as Distributed by MLS Grid
• 2021-03-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-02-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-01-08 Listed $10,000 Stellar MLS as Distributed by MLS Grid
• 2008-03-26 Listed $9,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $550 · +3.3% YoY. Source: county tax records.