240 Spaniards Rd · Rotonda, FL 33946

$649,000

3 bd · 2.0 ba · 2,020 sqft · SingleFamily public records · 361 Days on market

Built 2002 0.66 ac lot Est $697k · 7% under

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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 +14.3/30.0
• ARV discount +10.6/15.0
• Schools +4.6/10.0
• DSCR +4.3/10.0
• Appreciation +4.0/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

MOTIVATED SELLER. .. Custom Built Josh Johnson Home for Sale, set on an impressive . 66 acre lot, this 2002 built 2,020 Sq Ft. home offers volume ceilings, abundant natural light, and a layout designed for comfort and creativity. The Primary Suite bathroom features stunning handcrafted Spanish tile, while the Xeriscape front & side yards provide easy, low maintenance living. Additional highlights include a NEW ROOF, Hurricane Shutters, a newer kitchen and expansive windows & sliders throughout. Set high above the street level, HAS NEVER SUFFERED STORM DAMAGE and features 3 bedrooms, 2 baths a family & living room and utility area along with a full 3 bay garage. The 3 bay g

Key facts

• Hurricane shutters
• Almost acre of land
• Huge lots

Tags

• HUGE LOTS
• CUSTOM DESIGNED AND BUILT HOME
• NEARLY BRAND-NEW KITCHEN
• ALMOST ACRE OF LAND
• HURRICANE SHUTTERS
• NEW ROOF

Property features AI

Finance

• Other: Property is homestead exempt; Zoning RSF3.5; Total living area approximately 2,020 sq ft (public records); Building area total approximately 2,952 sq ft; Lot size approximately 0.66 acres (125 x 230)
• HOA & community: Association recreation owned; Deed restrictions; Park access through association; Pets allowed

Exterior

• Parking: Attached 1-car garage
• Security: Owned security system; Fire alarm and smoke detectors
• Utilities: Public water; Septic tank sewer; Electricity connected; Underground utilities; Water connected
• Home design: Single-family residence; One story; West-facing; Residential, completed condition; Canal water view
• Construction: Concrete and stucco construction; Shingle roof; Slab foundation; Built by Josh Johnson
• Exterior features: Covered, enclosed, screened and wrap-around rear porch; Screened rear porch; Sliding doors; Hurricane shutters; Rain gutters and exterior lighting; Private mailbox; Mature landscaping with trees; Level, landscaped lot with oversized dimensions; Near public transit; Flood zone (flood insurance required); Public maintained asphalt road

Interior

• Kitchen: Convection oven; Range; Microwave; Dishwasher; Refrigerator; Disposal; Stone countertops; Solid wood cabinetry
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning with zoning
• Interior features: Cathedral ceilings, tray and vaulted ceiling details; High ceilings and open floorplan with kitchen/family-room combo; Living room/dining room combo; Solid wood cabinets with stone counters; Ceiling fans and thermostat; Walk-in closets; Window treatments including shades and aluminum frames; Exhaust fan
• Laundry & utility: Washer and dryer; Laundry area located in the garage; Electric water heater; Inside utility and storage rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $649k.

Deal economics

• At list price, monthly cash flow is $-310 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $594k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $523k (19.5% below list).
• Recommended offer: $523k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Rotonda — 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 67/100 on livability (#548 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, cost of living 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: Vineland Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 579 students, 45% FRL); L. A. Ainger Middle School (math 65% / reading 53%, grade B, #144 of 571 statewide, top 26%, 720 students, 40% FRL); Lemon Bay High School (math 50% / reading 56%, grade C-, #148 of 667 statewide, top 23%, 1,360 students, 28% FRL) — zoned schools average 38% FRL vs 54% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 916 active listings in the ZIP; 14 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 (-1.9%/yr); year-one equity from $4k of loan paydown is wiped out by about $12k 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 361 days — a 12% lower offer ($571k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $23k; list at $649k implies a 2722% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $522,605 (19.5% 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 361 days. Have you received any prior offers? Is the seller open to a 19% 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: 0.81% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $696,900
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4663 Arlington Dr	0.33mi	3/2.0	2,174 (+8%)	12mo	$750,000	$345	62
510 Green Dolphin Dr S	0.67mi	3/2.0	2,134 (+6%)	14mo	$900,000	$422	48
2 Windward Ter	0.70mi	3/3.0	1,953 (-3%)	23mo	$390,000	$200	39
440 Spaniards Rd	0.48mi	3/3.0	2,251 (+11%)	22mo	$566,500	$252	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.48×
• Total profit: $-94,613
• Equity at exit: $128,958

10-year hold

• IRR: -5.6%
• Equity multiple: 0.56×
• Total profit: $-80,502
• Equity at exit: $112,996

Cash invested: $181,720 (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 33946

• Home prices YoY: -0.7%
• Active inventory: 916
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $5,226 high
• Mortgage (P&I): −$3,403
• Tax from tax record: −$338 /mo · $4,061/yr
• Insurance: −$270
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,097
• Net cashflow: $-310

Break-even live

Break-even rent $5,619

Max offer price $594,202

Occupancy floor —

Sensitivity live

Price	-10% $57	-5% $-127	+0% $-310	+5% $-494	+10% $-678
Rent	-10% $-723	-5% $-517	+0% $-310	+5% $-104	+10% $103
Rate	-1.0pp $17	-0.5pp $-145	base $-310	+0.5pp $-478	+1.0pp $-649

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Amberjack Ter Placida, FL	3.0	2.0	2209	$7,985	$3.61	23d	1	0.33mi
11 Amberjack Ln Placida, FL	3.0	2.0	1786	$2,700	$1.51	15d	1	0.48mi
50 Barracuda Dr Placida, FL	3.0	2.0	2154	$3,000	$1.39	23d	1	0.57mi
2 Windward Ter Placida, FL	3.0	3.0	1953	$2,500	$1.28	23d	1	0.71mi
550 Gaspar Dr Placida, FL	3.0	3.0	1803	$5,500	$3.05	23d	1	0.77mi
10345 Longshore Rd #29 Placida, FL	3.0	3.0	2416	$6,900	$2.86	23d	1	0.77mi
10045 Links Ln #203 Rotonda West, FL	2.0	2.0	1543	$1,450	$0.94	15d	1	0.80mi
11000 Placida Rd #2201 Placida, FL	2.0	2.5	1973	$8,750	$4.43	23d	1	0.81mi
10425 Pilothouse Cir #131 Placida, FL	3.0	3.0	2390	$5,000	$2.09	23d	1	0.92mi
3923 Cape Haze Dr #302 Rotonda West, FL	3.0	3.0	2044	$3,100	$1.52	23d	1	1.03mi
13045 Via Aurelia Placida, FL	3.0	2.0	1961	$8,200	$4.18	23d	1	1.21mi
10446 Coquina Ct Placida, FL	3.0	2.0	1820	$4,500	$2.47	23d	1	1.22mi
8936 Scallop Way Placida, FL	3.0	2.0	2158	$5,200	$2.41	23d	1	1.44mi
8400 Placida Rd Unit G202 Rental Placida, FL	2.0	2.5	1688	$2,500	$1.48	23d	1	1.46mi

Listing history 25 events

1. 2026-06-08
   days on market $649,000 Active 361 DOM
2. 2026-06-05
   days on market $649,000 Active 357 DOM
3. 2026-06-02
   days on market $649,000 Active 355 DOM
4. 2026-06-01
   days on market $649,000 Active 354 DOM
5. 2026-05-31
   days on market $649,000 Active 353 DOM
6. 2026-05-30
   days on market $649,000 Active 352 DOM
7. 2026-03-24
   price $649,000
8. 2026-02-09
   price $589,000
9. 2026-01-01
   status Active
10. 2025-12-31
    historical
11. 2025-12-10
    price $649,000
12. 2025-12-10
    status Active
13. 2025-04-18
    price $599,000
14. 2025-03-21
    listed $615,000 Active
15. 2024-05-31
    historical
16. 2024-03-14
    price $649,000
17. 2024-03-14
    status Active
18. 2024-03-14
    historical
19. 2024-01-25
    listed $649,000 Active
20. 2023-12-31
    historical
21. 2023-03-27
    listed $699,000 Active
22. 2022-07-13
    listed $679,000 Active
23. 2007-04-27
    historical
24. 2006-01-03
    listed $475,000
25. 1990-06-01
    soldstatus $23,000

ⓘ 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: $4,061 · $338/mo
• Projected year-2 tax: $5,387 · $449/mo
• Expected delta: +$1,326/yr (+$110/mo · 32.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $62,713
• − Mortgage interest: −$36,354
• − Property taxes: −$4,061
• − Insurance: −$8,364
• − Repairs & maintenance: −$5,017
• − Management: −$5,017
• − Depreciation: −$18,880
• Taxable loss: −$14,980
• Est. tax savings @ 24.0%: +$3,595
• After-tax cash flow: $-127/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 — Rotonda

• Score: 67/100
• State rank: #548
• US rank: #10359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,490
• Population (ZIP): 2,745

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 (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Asian 1% Two or more races 1%
• Common ancestry: Italian 3% Romanian 2% Russian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Russian/Polish/Slavic 5% Spanish 1% French/Haitian/Cajun 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: ▼ -1.90%
• Current HPI: 288.559
• Rent YoY: —
• Metro: —
• 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

+2721.7% since first listed

19 events — show timeline

• 2026-03-24 Price Changed $649,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $589,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-10 Price Changed $649,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-04-18 Price Changed $599,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-21 Listed $615,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-14 Price Changed $649,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-03-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-01-25 Listed $649,000 Stellar MLS as Distributed by MLS Grid
• 2023-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-03-27 Listed $699,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-13 Listed $679,000 Stellar MLS as Distributed by MLS Grid
• 2007-04-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2006-01-03 Listed $475,000 Stellar MLS as Distributed by MLS Grid
• 1990-06-01 Sold (Public Records) $23,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $4,061 · +6.3% YoY. Source: county tax records.