2518 Hemet St · North Port, FL 34288

$301,000

3 bd · 2.0 ba · 1,555 sqft · SingleFamily public records · 451 Days on market

Built 2025 10,000 sqft lot $194/sqft · at area comps Est $312k · at est.

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Why this score? — see what drove the D- 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 +11.2/30.0
• ARV discount +9.0/15.0
• Schools +5.4/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

READY NOW!! HOME IS COMPLETE! Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you’ll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners’ Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floor plan. You’ll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

Key facts

• 0.23 acre lot
• 3 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $301k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (30.5% below list).
• Recommended offer: $209k (30.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.6% in North Port — 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 75/100 on livability (#252 in FL, #3,975 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-5.4%/yr); 1397 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

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.
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 451 days — a 12% lower offer ($265k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $301k implies a 1405% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $209,294 (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 451 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.70% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 12.0

CMA / ARV

• ARV (median comp): $311,729
• List price: $301,000
• Delta: -3.44%
• Verdict: FAIR
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.9%
• Equity multiple: 0.26×
• Total profit: $-62,385
• Equity at exit: $44,880

10-year hold

• IRR: -23.6%
• Equity multiple: -0.05×
• Total profit: $-88,098
• Equity at exit: $26,025

Cash invested: $84,280 (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 34288

• Home prices YoY: -12.2%
• Rents YoY: -5.4%
• Active inventory: 1397
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,093 medium
• Mortgage (P&I): −$1,578
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-115

Break-even live

Break-even rent $2,238

Max offer price $280,708

Occupancy floor —

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: $75,250
• Closing costs: $9,030
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Gimli St Port Charlotte, FL	3.0	2.0	1492	$2,400	$1.61	21d	1	1.42mi

Listing history 27 events

1. 2026-06-18
   days on market $301,000 Active 451 DOM
2. 2026-06-17
   days on market $301,000 Active 450 DOM
3. 2026-06-15
   days on market $301,000 Active 448 DOM
4. 2026-06-13
   days on market $301,000 Active 446 DOM
5. 2026-06-13
   days on market $301,000 Active 445 DOM
6. 2026-06-10
   days on market $301,000 Active 443 DOM
7. 2026-06-09
   days on market $301,000 Active 442 DOM
8. 2026-06-08
   days on market $301,000 Active 440 DOM
9. 2026-06-05
   days on market $301,000 Active 437 DOM
10. 2026-06-03
    pricedays on market $301,000 Active 436 DOM
11. 2026-06-02
    days on market $305,000 Active 435 DOM
12. 2026-06-01
    days on market $305,000 Active 434 DOM
13. 2026-05-31
    days on market $305,000 Active 433 DOM
14. 2026-05-19
    price $305,000 1026-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

15. 2026-05-19
    price $305,000 1150-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

16. 2026-05-08
    price $297,000 1150-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

17. 2026-04-16
    price $314,880 1026-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

18. 2026-04-16
    price $314,880 1150-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

19. 2025-07-26
    price $319,990 1150-char remark

    Show marketing remark (1026 chars)

    READY NOW!! HOME IS COMPLETE! Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you’ll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners’ Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floor plan. You’ll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

20. 2025-07-26
    price $319,990 1026-char remark

    Show marketing remark (1026 chars)

    READY NOW!! HOME IS COMPLETE! Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you’ll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners’ Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floor plan. You’ll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

21. 2025-03-24
    listed $322,000 Active 1026-char remark

    Show marketing remark (1026 chars)

    READY NOW!! HOME IS COMPLETE! Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you’ll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners’ Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floor plan. You’ll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. This new home includes one full year of builder's transferable warranty coverage and a 10-year limited structural warranty.

22. 2025-01-18
    price $322,000 1150-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

23. 2024-09-07
    listed $327,000 Active 1150-char remark

    Show marketing remark (1150 chars)

    Welcome to the Alexander, a floorplan from our Value collection. As you enter through the covered entryway, you'll step into a spacious foyer that seamlessly leads into the Great Room, creating a warm and inviting atmosphere. This thoughtfully designed home features two bedrooms situated on one side, while the Owners' Suite is nestled in the back corner, offering optimal privacy and tranquility. The kitchen is a true highlight of the Alexander, boasting ample space and a layout that provides a full view into the Great Room, perfect for entertaining and staying connected with loved ones. Additionally, a separate dining room and living room flank the front of the home, adding an extra touch of elegance and versatility to the floorplan. You'll also appreciate the convenience of a three-car garage, providing ample space for vehicles and storage. The Alexander showcases our commitment to exceptional quality and energy efficiency. Constructed with CBS, this home incorporates energy smart features throughout, including a digital thermostat, an A/C system, roof vents and soffits for attic ventilation, and dual pane energy-efficient windows.

24. 2024-05-22
    historical
25. 2024-03-05
    soldstatus $20,000
26. 2024-01-05
    price $24,200
27. 2023-05-22
    listed $34,900 Active

ⓘ 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: $773 · $64/mo
• Projected year-2 tax: $2,498 · $208/mo
• Expected delta: +$1,726/yr (+$144/mo · 223.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,115
• − Mortgage interest: −$16,861
• − Property taxes: −$773
• − Insurance: −$1,505
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − Depreciation: −$8,756
• Taxable loss: −$6,798
• Est. tax savings @ 24.0%: +$1,632
• After-tax cash flow: $253/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: Sarasota
• NCES district ID: 1201680
• Math proficiency: 63% ▼ -8.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $51,167
• Composite: 53.68/100
• National rank: #1428
• State rank: #7 of 73 in FL

Livability — North Port

• Score: 75/100
• State rank: #252
• US rank: #3975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Port, FL
• County: Sarasota County · 448,376 people
• City population: 75,324
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 18,231
• Household income: $84,211
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 177.0

Population outlook (Sarasota County) Hauer SSP2

• Today (2025): 452,380 people
• By 2030: 474,175 · +4.8%
• By 2040: 511,577 · +13.1%
• By 2050: 541,467 · +19.7%
• By 2075: 604,947 · +33.7%
• By 2100: 621,965 · +37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Cuban 3%
• Common ancestry: Romanian 7% Lithuanian 4% Hispanic 3%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 6% French/Haitian/Cajun 5% Russian/Polish/Slavic 1%

Political lean MEDSL · Sarasota

• 2024 margin: R (+18.2) · D 40.5% · R 58.7%
• 2008→2024 swing: -18.1pp toward R · 2008: -0.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+10.4 2016: R+11.6 2012: R+7.4 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.39%
• Current HPI: 248.3322
• Rent YoY: ▼ -5.40%
• Metro: North Port-Sarasota-Bradenton, 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

+773.9% since first listed

14 events — show timeline

• 2026-05-19 Price Changed $305,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-19 Price Changed $305,000 Zillow
• 2026-05-08 Price Changed $297,000 Zillow
• 2026-04-16 Price Changed $314,880 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $314,880 Zillow
• 2025-07-26 Price Changed $319,990 Zillow
• 2025-07-26 Price Changed $319,990 Stellar MLS as Distributed by MLS Grid
• 2025-03-24 Listed $322,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-18 Price Changed $322,000 Zillow
• 2024-09-07 Listed $327,000 Zillow
• 2024-05-22 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-05 Sold (Public Records) $20,000 Public Records
• 2024-01-05 Price Changed $24,200 Stellar MLS as Distributed by MLS Grid
• 2023-05-22 Listed $34,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2025): $773 · +24.6% YoY. Source: county tax records.