26567 Deep Creek Blvd

Harbour Heights, FL 33983

$299,900F

4 bd · 2.0 ba · 1,893 sqft · Built 2023 · Land · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,222/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$575
• HOA: −$16
• Vac / Maint / Mgmt: −$467
• Net cashflow: $-408/mo
• Annual: $-4,895/yr
• Cap rate: 4.66%
• Cash-on-cash: -5.83%
• DSCR: 0.74
• 1% rule: 0.74%
• Cash to close: $83,972

Investor read

• This is a 4-bed/2.0-bath land listed at $300k.
• At list price, monthly cash flow is $-408 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (24.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (25.9% below list).
• It's been on market 44 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (25.9% below list) — sets the bar for 1% rule.
• 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.
• Location reads 64/100 on livability (#684 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• 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: Deep Creek Elementary School (math 64% / reading 68%, grade B+, #492 of 2,144 statewide, top 23%, 835 students, 47% FRL); Punta Gorda Middle School (math 54% / reading 52%, grade C+, #209 of 571 statewide, top 37%, 1,120 students, 41% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Market conditions: Rents soft (-2.6%/yr); 558 active listings in the ZIP; 28 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).
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 5y 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.
• Current owner paid $23k; list at $300k implies a 1204% gain — meaningful room to come down on a strong offer.
• 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.
• This rent runs 37% of the median local income ($72k/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 44 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.