9400 Little Gasparilla Is Unit H2 · Rotonda, FL 33946

$199,000

2 bd · 2.0 ba · 946 sqft · Condo · 195 Days on market

Built 1998 $1285/mo HOA · 19% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Appreciation +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Under contract-accepting backup offers. Rare Opportunity to Own on Little Gasparilla Island! Welcome to a unique chance to join the Hideaway Beach Club community through the purchase of a 50% undivided interest in Unit H-2. This beautifully renovated island condo offers an ideal arrangement for anyone seeking the benefits of island ownership at a fraction of the cost. The current owner is seeking a partner to share both ownership and annual expenses 50/50. In exchange, the new co-owner will enjoy use of the condo from late March through November each year—approximately eight months of island living—while sharing only half of the total yearly fees. A customized partnership ag

Key facts

• Community pool
• Deeded walkway
• Community dock

Tags

• COMMUNITY POOL
• GRILL AND PICNIC AREAS
• DEEDED WALKWAY
• COMMUNITY DOCK

Property features AI

Finance

• Other: Furnished; Condo land included
• Financial info: Total annual fees listed as $15,420; Lease restrictions apply
• HOA & community: Monthly condo fee (listed) — $1,285; Quarterly condo fees total listed as $3,855; Association covers common area taxes, pool, escrow reserves, insurance, structure & grounds maintenance, pest control, trash, management; Association amenities include maintenance, playground, security; Community features: buyer approval required, deed restrictions, golf carts allowed; Pets allowed (max ~100 lbs)

Exterior

• Parking: Carport (1 space); Basement parking
• Security: Fire sprinkler system; Community security (association amenity)
• Utilities: Private water; Private sewer; Electricity connected; Water connected; Mini sewer; BB/HS internet available
• Home design: Condominium; Residential property; Two stories; Entry on a stilt/piling foundation; Building H, Unit H2; Faces northwest; Partial gulf/ocean water view; Water access (Bay/Harbor, deeded beach access, Gulf/Ocean, Intracoastal Waterway); No fixed bridges
• Construction: Frame construction with wood siding; Shingle roof; Built on stilt/piling foundation
• Exterior features: Covered screened porch; Outdoor grill; Playground; Storage

Interior

• Kitchen: Dishwasher; Microwave; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Kitchen/family room combo; Living room/dining room combo; Open floorplan; Fire sprinkler system
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.4% 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); Lemon Bay High School (math 50% / reading 56%, grade C-, #148 of 667 statewide, top 23%, 1,360 students, 28% FRL) — zoned schools average 37% FRL vs 54% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 915 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-1.9% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 3.39% ✓
• Cap rate: 22.39%
• Cash-on-cash: 57.47%
• DSCR: 3.56
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.5%
• Equity multiple: 3.17×
• Total profit: $120,984
• Equity at exit: $39,542

10-year hold

• IRR: 52.2%
• Equity multiple: 6.42×
• Total profit: $302,229
• Equity at exit: $34,647

Cash invested: $55,720 (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: 915
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $6,745 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,285
• Vacancy / Maint / Mgmt: −$1,417
• Net cashflow: $2,242

Break-even live

Break-even rent $3,907

Max offer price $199,000

Occupancy floor 62%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9400 Little Gasparilla Unit G9 Placida, FL	2.0	2.0	946	$6,900	$7.29	20d	1	0.03mi
9400 Little Gasparilla Unit F9 Placida, FL	2.0	2.0	946	$6,500	$6.87	20d	1	0.04mi
9400 Little Gasparilla Unit H8 Placida, FL	2.0	2.0	946	$5,850	$6.18	20d	1	0.04mi
9750 Little Gasparilla Placida, FL	3.0	1.5	957	$10,000	$10.45	20d	1	0.33mi

HOA detail condo

• Monthly dues: $1,285 · $15,420/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-05
   statusdays on market $199,000 Pending 195 DOM
2. 2026-06-02
   days on market $199,000 Active 194 DOM
3. 2026-06-01
   days on market $199,000 Active 193 DOM
4. 2026-05-31
   days on market $199,000 Active 192 DOM
5. 2026-05-30
   days on market $199,000 Active 191 DOM
6. 2025-11-20
   listed $199,000 Active

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,945
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$6,114
• − Repairs & maintenance: −$6,476
• − Management: −$6,476
• − HOA: −$15,420
• − Depreciation: −$5,789
• Taxable income: $26,539
• Est. tax owed @ 24.0%: −$6,369
• After-tax cash flow: $20,536/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

1 event — show timeline

• 2025-11-20 Listed $199,000 Stellar MLS as Distributed by MLS Grid