1246 Rio DE Janeiro Ave #505 · Harbour Heights, FL 33983

$165,000

2 bd · 2.5 ba · 1,154 sqft · Condo · 2 Days on market

Built 2007 $193/mo HOA · 12% of rent

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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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.6/10.0
• DSCR +3.9/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

GOLF COURSE VIEW TOWNHOME IN THE TOWNHOMES OF DEEP CREEK | NO FLOOD INSURANCE REQUIRED: Enjoy maintenance-free living with stunning golf course views in this beautifully maintained 2 bedroom, 2.5 bathroom two-story townhome located in the desirable Townhomes of Deep Creek. Perfectly positioned along the 13th green and 14th tee of Deep Creek Golf Course, this inviting residence offers spacious living areas, private bedroom suites, and peaceful outdoor spaces designed to embrace Florida living. Golf course access is available but not required, allowing you to enjoy the views without the commitment. INTERIOR FEATURES • Two-story townhome with golf course views • 2 bedrooms, 2.5 ba

Key facts

• Community pool
• $193 HOA
• Pool

Tags

• COMMUNITY POOL
• QUIET ESTABLISHED NEIGHBORHOOD
• CONVENIENT ACCESS TO BOATING

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-8 ($-94/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (0.7% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $164k (0.7% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 4.0% in Harbour Heights — 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 64/100 on livability (#684 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: schools F, 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.
• Market conditions: Rents soft (-2.6%/yr); 558 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $163,870 (0.7% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.02% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 8.2

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: -20.6%
• Equity multiple: 0.31×
• Total profit: $-32,007
• Equity at exit: $24,602

10-year hold

• IRR: -24.5%
• Equity multiple: -0.02×
• Total profit: $-46,929
• Equity at exit: $14,266

Cash invested: $46,200 (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 33983

• Home prices YoY: -5.1%
• Rents YoY: -2.6%
• Active inventory: 558
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$193
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-8

Break-even live

Break-even rent $1,688

Max offer price $163,870

Occupancy floor 95%

Sensitivity live

Price	-10% $106	-5% $49	+0% $-8	+5% $-65	+10% $-122
Rent	-10% $-140	-5% $-74	+0% $-8	+5% $58	+10% $125
Rate	-1.0pp $75	-0.5pp $34	base $-8	+0.5pp $-51	+1.0pp $-94

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1246 Rio De Janeiro Ave Unit E-505 Punta Gorda, FL	2.0	2.5	1154	$1,350	$1.17	22d	1	0.04mi
1196 Rio de Janeiro Ave #206 Punta Gorda, FL	2.0	2.5	1154	$1,325	$1.15	22d	1	0.11mi
1211 Saxony Cir Unit A-1 Punta Gorda, FL	2.0	2.0	1017	$2,900	$2.85	22d	1	0.12mi
1330 Rio De Janeiro Ave Unit 3 Punta Gorda, FL	2.0	2.0	1017	$1,325	$1.30	22d	1	0.16mi
1275 Saxony Cir #3101 Punta Gorda, FL	2.0	2.0	1291	$3,000	$2.32	22d	1	0.17mi
1350 Rio de Janeiro Ave Unit 6C Punta Gorda, FL	2.0	2.0	1120	$1,499	$1.34	22d	1	0.20mi
1356 Rio de Janeiro Ave #108 Punta Gorda, FL	2.0	2.0	1023	$1,500	$1.47	22d	1	0.21mi
26247 Northern Cross Rd Punta Gorda, FL	3.0	2.0	1255	$1,699	$1.35	22d	1	0.25mi
26285 Explorer Rd Punta Gorda, FL	3.0	2.0	1408	$1,700	$1.21	22d	1	0.32mi
26201 Explorer Rd Unit 5 Port Charlotte, FL	2.0	1.5	850	$1,350	$1.59	22d	1	0.32mi
1408 Rio De Janeiro Ave Punta Gorda, FL	2.0–3.0	2.0	1078	$1,575	$1.46	15d	6	0.33mi
26335 Explorer Rd Punta Gorda, FL	3.0	2.0	1402	$1,600	$1.14	22d	1	0.36mi
26172 Explorer Rd Unit 4 Port Charlotte, FL	3.0	2.0	1300	$1,650	$1.27	22d	1	0.39mi
26172 Explorer Rd Unit 2 Port Charlotte, FL	2.0	2.0	950	$1,450	$1.53	22d	1	0.39mi
1462 Rio De Janeiro Ave Unit B103 Punta Gorda, FL	2.0	2.0	1385	$1,700	$1.23	15d	1	0.40mi
26156 Explorer Rd Punta Gorda, FL	2.0–3.0	2.0	1032	$1,450	$1.41	15d	1	0.41mi
1037 Nomad Rd Punta Gorda, FL	3.0	2.0	1255	$1,625	$1.29	15d	1	0.45mi
26397 Nadir Rd #204 Punta Gorda, FL	2.0	2.0	1105	$2,500	$2.26	22d	1	0.46mi
26461 Explorer Rd Punta Gorda, FL	2.0	2.0	1102	$1,412	$1.28	22d	2	0.51mi
26221 Sandhill Blvd Punta Gorda, FL	3.0	2.0	1500	$1,800	$1.20	22d	1	0.54mi
26272 Rampart Blvd #107 Punta Gorda, FL	2.0	2.5	1078	$1,800	$1.67	22d	1	0.56mi
1118 Bismarck Rd Punta Gorda, FL	3.0	2.0	1353	$1,660	$1.23	22d	1	0.59mi
1392 San Cristobal Ave Punta Gorda, FL	3.0	2.0	1452	$2,150	$1.48	22d	1	0.60mi
1114 Bismarck Rd Punta Gorda, FL	3.0	2.0	1353	$1,660	$1.23	22d	1	0.60mi
1416 San Cristobal Ave #3 Punta Gorda, FL	2.0	2.0	1017	$3,500	$3.44	22d	1	0.62mi
1416 San Cristobal Ave Unit 3 (C) Punta Gorda, FL	2.0	2.0	1017	$3,200	$3.15	22d	1	0.62mi
1192 Oceanic Rd Punta Gorda, FL	3.0	2.0	1338	$1,700	$1.27	15d	1	0.65mi
1153 Oceanic Rd Port Charlotte, FL	3.0	2.0	1250	$1,595	$1.28	22d	1	0.68mi
1139 Indies Way Punta Gorda, FL	3.0	2.0	1255	$1,595	$1.27	22d	1	0.75mi
26481 Sandhill Blvd Punta Gorda, FL	3.0	2.0	1240	$1,695	$1.37	15d	1	0.77mi
26483 Sandhill Blvd Port Charlotte, FL	3.0	2.0	1240	$1,695	$1.37	15d	1	0.77mi
1125 Highlands Rd Punta Gorda, FL	3.0	2.0	1237	$1,750	$1.41	15d	1	0.81mi
2060 Willow Hammock Cir Unit D304 Punta Gorda, FL	2.0	2.0	924	$1,600	$1.73	22d	1	0.88mi
26485 Rampart Blvd Punta Gorda, FL	2.0	2.0	884	$1,522	$1.72	22d	2	0.91mi
2121 Heron Lake Dr #204 Punta Gorda, FL	2.0	2.0	996	$1,500	$1.51	22d	1	0.98mi
25225 Rampart Blvd Punta Gorda, FL	2.0	2.0	886	$1,925	$2.17	22d	5	0.99mi
1499 Capricorn Blvd Port Charlotte, FL	2.0	2.0	980	$1,495	$1.53	22d	1	1.09mi
1471 Capricorn Blvd Unit A Punta Gorda, FL	3.0	2.0	1450	$1,900	$1.31	15d	1	1.10mi
27092 Partin Dr Unit B Punta Gorda, FL	2.0	2.0	1041	$1,400	$1.34	22d	1	1.11mi
27085 Partin Dr Punta Gorda, FL	2.0	2.0	1052	$1,445	$1.37	22d	1	1.12mi

HOA detail condo

• Monthly dues: $193 · $2,316/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-22
   remarks 689-char remark
2. 2026-06-22
   listed $165,000 Active 2 DOM

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

Taxation est. · year 1

• Rental income: $20,134
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − HOA: −$2,316
• − Depreciation: −$4,800
• Taxable loss: −$2,746
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $565/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 — Harbour Heights

• Score: 64/100
• State rank: #684
• US rank: #14202

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 18,471
• Household income: $71,856
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 342.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Black 9% Two or more races 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -18.76%
• Current HPI: 346.0116
• Rent YoY: ▼ -2.57%
• 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