6384 Malaluka Rd · North Port, FL 34287

$265,000

3 bd · 2.0 ba · 1,618 sqft · SingleFamily public records · 115 Days on market

Built 1963 7,643 sqft lot $164/sqft · 49% below area Est $524k · 49% under

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +5.4/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is THE house you have been waiting for!! You can’t beat this location for the price!! Come and enjoy Florida’s weather in this waterfront canal home. Bring your boat and access the Myakka River, it is waiting to lead to you to Gulf and all that the saltwater activities offer you! Keep your boat on your private dock in your backyard. As soon as you walk in your front door, you are treated with a fantastic water view. This home has 3 bedrooms, 2 baths and has been recently updated and remodeled for the new buyer. It is move in ready. Bring your clothes and unpack. The home has been well taken care of. NEW carpet in the guest bedrooms and life proof laminate flooring inside. Fresh paint inside refreshes you! The kitchen has granite countertops perfect for cooking and baking! Newer AC unit, electric panel and roof. ALL New plumbing including PEX water lines and PVC drain lines inside of the home which connects to CITY water and sewer!! No Septic Tanks. City water and sewer!! This home features at one and a half car garage so you’ll have plenty of room for storage. You can enjoy all the outdoor spaces. Sit in your enclosed front porch or your backyard screened patio. Once you want to leave your house, you are within 6 miles to the Cool Today Park for the Atlanta Braves Spring Training home as well as Wellen Park where you can enjoy a bunch of great restaurants and concerts in the park. You are also within 10 miles to four different beaches. Since you are close to Tamiami Trl, you are in a great location to head to Venice, Port Charlotte, or even Engelwood from your home in North Port. So much to explore and see. Make an offer today!! You don't want to miss on this waterfront home!

Key facts

• New plumbing
• Private dock
• Granite countertops

Tags

• WATERFRONT CANAL HOME
• PRIVATE DOCK
• GRANITE COUNTERTOPS
• NEW PLUMBING
• ENCLOSED FRONT PORCH
• BACKYARD SCREENED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $259k (2.2% below list).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 flat; 852 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• At $2,591/mo this rent would consume 49% of the median local household income ($63k/yr) (locally 522% 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 $8k 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 115 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $265k implies a 496% 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; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.98% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (median comp): $524,473
• List price: $265,000
• Delta: -49.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.26% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.45×
• Total profit: $-40,812
• Equity at exit: $39,512

10-year hold

• IRR: -13.4%
• Equity multiple: 0.32×
• Total profit: $-50,619
• Equity at exit: $22,912

Cash invested: $74,200 (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 34287

• Home prices YoY: -20.1%
• Rents YoY: 0.3%
• Active inventory: 852
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,591 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$339 /mo · $4,072/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $141

Break-even live

Break-even rent $2,412

Max offer price $265,000

Occupancy floor 90%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Ramblewood St Port Charlotte, FL	4.0	3.0	1795	$2,200	$1.23	21d	1	0.52mi
170 Saluda Ter Port Charlotte, FL	3.0	2.0	1680	$3,100	$1.85	21d	1	1.23mi
297 Cheshire St Port Charlotte, FL	4.0	4.0	2134	$3,695	$1.73	21d	1	1.36mi

Listing history 15 events

1. 2026-06-10
   status $265,000 Pending 115 DOM
2. 2026-06-09
   days on market $265,000 Active 115 DOM
3. 2026-06-08
   pricedays on market $265,000 Active 114 DOM
4. 2026-06-08
   days on market $274,900 Active 113 DOM
5. 2026-06-05
   days on market $274,900 Active 110 DOM
6. 2026-06-03
   days on market $274,900 Active 109 DOM
7. 2026-06-02
   days on market $274,900 Active 108 DOM
8. 2026-06-01
   days on market $274,900 Active 107 DOM
9. 2026-05-31
   days on market $274,900 Active 106 DOM
10. 2026-04-15
    price $274,900 1729-char remark

    Show marketing remark (1729 chars)

    This is THE house you have been waiting for!! You can’t beat this location for the price!! Come and enjoy Florida’s weather in this waterfront canal home. Bring your boat and access the Myakka River, it is waiting to lead to you to Gulf and all that the saltwater activities offer you! Keep your boat on your private dock in your backyard. As soon as you walk in your front door, you are treated with a fantastic water view. This home has 3 bedrooms, 2 baths and has been recently updated and remodeled for the new buyer. It is move in ready. Bring your clothes and unpack. The home has been well taken care of. NEW carpet in the guest bedrooms and life proof laminate flooring inside. Fresh paint inside refreshes you! The kitchen has granite countertops perfect for cooking and baking! Newer AC unit, electric panel and roof. ALL New plumbing including PEX water lines and PVC drain lines inside of the home which connects to CITY water and sewer!! No Septic Tanks. City water and sewer!! This home features at one and a half car garage so you’ll have plenty of room for storage. You can enjoy all the outdoor spaces. Sit in your enclosed front porch or your backyard screened patio. Once you want to leave your house, you are within 6 miles to the Cool Today Park for the Atlanta Braves Spring Training home as well as Wellen Park where you can enjoy a bunch of great restaurants and concerts in the park. You are also within 10 miles to four different beaches. Since you are close to Tamiami Trl, you are in a great location to head to Venice, Port Charlotte, or even Engelwood from your home in North Port. So much to explore and see. Make an offer today!! You don't want to miss on this waterfront home!

11. 2026-02-14
    listed $295,500 Active 1729-char remark

    Show marketing remark (1729 chars)

    This is THE house you have been waiting for!! You can’t beat this location for the price!! Come and enjoy Florida’s weather in this waterfront canal home. Bring your boat and access the Myakka River, it is waiting to lead to you to Gulf and all that the saltwater activities offer you! Keep your boat on your private dock in your backyard. As soon as you walk in your front door, you are treated with a fantastic water view. This home has 3 bedrooms, 2 baths and has been recently updated and remodeled for the new buyer. It is move in ready. Bring your clothes and unpack. The home has been well taken care of. NEW carpet in the guest bedrooms and life proof laminate flooring inside. Fresh paint inside refreshes you! The kitchen has granite countertops perfect for cooking and baking! Newer AC unit, electric panel and roof. ALL New plumbing including PEX water lines and PVC drain lines inside of the home which connects to CITY water and sewer!! No Septic Tanks. City water and sewer!! This home features at one and a half car garage so you’ll have plenty of room for storage. You can enjoy all the outdoor spaces. Sit in your enclosed front porch or your backyard screened patio. Once you want to leave your house, you are within 6 miles to the Cool Today Park for the Atlanta Braves Spring Training home as well as Wellen Park where you can enjoy a bunch of great restaurants and concerts in the park. You are also within 10 miles to four different beaches. Since you are close to Tamiami Trl, you are in a great location to head to Venice, Port Charlotte, or even Engelwood from your home in North Port. So much to explore and see. Make an offer today!! You don't want to miss on this waterfront home!

12. 2010-06-18
    soldstatus $44,500 162-char remark

    Show marketing remark (162 chars)

    "Short Sale" On canal off the Myakkahatchee. Direct access to Myakka River and Gulf. NOT deep water. House needs some TLC. Approval of 3rd party needed.

13. 2010-05-12
    listed $59,900 162-char remark

    Show marketing remark (162 chars)

    "Short Sale" On canal off the Myakkahatchee. Direct access to Myakka River and Gulf. NOT deep water. House needs some TLC. Approval of 3rd party needed.

14. 2005-04-28
    listed $365,000
15. 1988-09-29
    soldstatus $71,500

ⓘ 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: $4,072 · $339/mo
• Projected year-2 tax: $4,072 · $339/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,096
• − Mortgage interest: −$14,844
• − Property taxes: −$4,072
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,488
• − Management: −$2,488
• − Depreciation: −$7,709
• Taxable loss: −$2,627
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $2,326/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): 25,929
• Household income: $63,464
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 522.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 7% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 8% Russian/Polish/Slavic 5% French/Haitian/Cajun 2%

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: ▼ -70.89%
• Current HPI: 280.8484
• Rent YoY: ▲ 0.26%
• 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

+284.5% since first listed

6 events — show timeline

• 2026-04-15 Price Changed $274,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-14 Listed $295,500 Stellar MLS as Distributed by MLS Grid
• 2010-06-18 Sold (MLS) $44,500 Stellar MLS as Distributed by MLS Grid
• 2010-05-12 Listed $59,900 Stellar MLS as Distributed by MLS Grid
• 2005-04-28 Listed $365,000 Stellar MLS as Distributed by MLS Grid
• 1988-09-29 Sold (Public Records) $71,500 Public Records

Property tax history

+8.4%/yr

Latest (2025): $4,072 · +3.5% YoY. Source: county tax records.