8289 Pelican Rd · Grove City, FL 34224

$130,000

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 2 Days on market

Built 1973 6,890 sqft lot

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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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come and make your this nice house. Close to Englewood Beach and Downtown where you can catch some live music, restaurants and entertainment. Lemon Bay offers daily boat, jet ski or kayak rentals. Minutes away from Lemon Bay High School.

Key facts

• 6,890 sq ft lot
• Built 1973
• Listed 2 days

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Driveway (paved)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story; Resale property; North-facing
• Construction: Block, concrete, and stucco construction; Shingle roof; Built as single-story (1 story)
• Exterior features: Open porch; No additional exterior features listed

Interior

• Kitchen: Freezer; Range; Refrigerator
• Bedrooms: Bedroom on main level; Great Room
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Pantry; Tub with shower; Other interior features
• Laundry & utility: Laundry in garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.7% vs local median 2.8% in Grove City — 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 63/100 on livability (#713 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities 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 (-0.1%/yr); 734 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 42% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 4y ago; this cycle's ask has dropped $49k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $130,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.54% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.17%
• DSCR: 1.85
• GRM: 5.4

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: 4.4%
• Equity multiple: 1.16×
• Total profit: $6,001
• Equity at exit: $19,383

10-year hold

• IRR: 10.5%
• Equity multiple: 1.70×
• Total profit: $25,309
• Equity at exit: $11,240

Cash invested: $36,400 (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 34224

• Home prices YoY: -18.9%
• Rents YoY: -0.1%
• Active inventory: 734
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,005 high
• Mortgage (P&I): −$682
• Tax from tax record: −$267 /mo · $3,201/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $515

Break-even live

Break-even rent $1,353

Max offer price $130,000

Occupancy floor 69%

Sensitivity live

Price	-10% $589	-5% $552	+0% $515	+5% $478	+10% $442
Rent	-10% $357	-5% $436	+0% $515	+5% $594	+10% $674
Rate	-1.0pp $581	-0.5pp $548	base $515	+0.5pp $481	+1.0pp $447

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4341 Placida Rd #6 Englewood, FL	2.0	2.0	1071	$1,450	$1.35	21d	1	0.29mi
4341 Placida Rd #5 Englewood, FL	2.0	2.0	1071	$1,350	$1.26	21d	1	0.29mi
8787 Saint Kitts Cir Englewood, FL	3.0	2.0	1422	$2,300	$1.62	14d	1	0.62mi
8716 Saint Kitts Cir Englewood, FL	3.0	2.0	1417	$2,500	$1.76	21d	1	0.64mi
8722 Saint Kitts Cir Englewood, FL	3.0	2.0	1417	$2,100	$1.48	21d	1	0.65mi
8613 Seasalt Loop Englewood, FL	3.0	2.0	1422	$3,650	$2.57	21d	1	0.69mi
3280 Holly Ave Englewood, FL	3.0	2.0	900	$3,300	$3.67	21d	1	0.84mi
1950 Nebraska Ave Englewood, FL	2.0	2.0	1325	$3,536	$2.67	21d	1	0.85mi
226 Boundary Blvd Rotonda West, FL	2.0	2.0	1200	$1,495	$1.25	14d	1	1.00mi
278 Boundary Blvd Unit B Rotonda West, FL	2.0	2.0	1138	$1,625	$1.43	21d	1	1.04mi
289 Boundary Blvd Unit 202 Rotonda West, FL	3.0	2.0	1168	$1,645	$1.41	21d	1	1.04mi
309 Boundary Blvd Unit B Rotonda West, FL	2.0	2.0	960	$1,450	$1.51	21d	1	1.12mi
100 Rotonda Lakes Cir Rotonda West, FL	1.0–3.0	1.0–2.0	1024	$1,232	$1.20	14d	1	1.16mi
260 Rotonda Blvd W Unit 2 Rotonda West, FL	3.0	2.0	1047	$1,500	$1.43	21d	1	1.16mi
284 Rotonda Blvd W Rotonda West, FL	2.0	2.0	897	$1,475	$1.64	21d	1	1.20mi
173 Rotonda Cir Rotonda West, FL	3.0	2.0	1350	$3,200	$2.37	21d	1	1.22mi
146 Boundary Blvd Unit B101 Rotonda West, FL	2.0	2.0	815	$1,400	$1.72	21d	1	1.38mi
8363 Sago Ct Englewood, FL	2.0	2.0	1360	$1,950	$1.43	21d	1	1.46mi

Listing history 42 events

1. 2026-06-18
   days on market $130,000 Active 2 DOM
2. 2026-06-18
   remarks 237-char remark
3. 2026-06-17
   remarks 201-char remark
4. 2026-06-17
   pricedays on marketlisting id $130,000 Active 1 DOM
5. 2026-06-16
   days on market $179,000 Active 70 DOM
6. 2026-06-15
   days on market $179,000 Active 69 DOM
7. 2026-06-14
   days on market $179,000 Active 67 DOM
8. 2026-06-13
   days on market $179,000 Active 66 DOM
9. 2026-06-10
   days on market $179,000 Active 64 DOM
10. 2026-06-09
    days on market $179,000 Active 63 DOM
11. 2026-06-08
    days on market $179,000 Active 62 DOM
12. 2026-06-07
    days on market $179,000 Active 61 DOM
13. 2026-06-05
    days on market $179,000 Active 58 DOM
14. 2026-06-03
    days on market $179,000 Active 57 DOM
15. 2026-06-02
    days on market $179,000 Active 56 DOM
16. 2026-06-01
    days on market $179,000 Active 55 DOM
17. 2026-05-31
    days on market $179,000 Active 54 DOM
18. 2026-05-30
    days on market $179,000 Active 53 DOM
19. 2026-04-07
    listed $179,000 Active
20. 2026-02-13
    historical $1,500
21. 2026-01-13
    listed $1,500
22. 2025-12-10
    historical $1,500
23. 2025-11-08
    listed $1,500
24. 2025-10-30
    historical $1,500
25. 2025-09-29
    listed $1,500
26. 2024-05-17
    historical $1,900
27. 2024-04-08
    listed $1,900
28. 2024-03-14
    historical $1,900
29. 2024-01-26
    price $1,900
30. 2024-01-24
    listed $1,700
31. 2024-01-10
    historical
32. 2023-08-30
    status Active
33. 2023-08-26
    status Pending
34. 2023-08-03
    status Active
35. 2023-07-26
    status Pending
36. 2023-07-17
    listed $280,000 Active
37. 2022-10-27
    historical
38. 2022-10-04
    status Active
39. 2022-08-26
    status Pending
40. 2022-07-27
    listed $269,000 Active
41. 2008-05-22
    soldstatus $95,000
42. 2006-12-07
    soldstatus $90,000

ⓘ 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: $3,201 · $267/mo
• Projected year-2 tax: $3,201 · $267/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 7/10 Severe FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $24,064
• − Mortgage interest: −$7,282
• − Property taxes: −$3,201
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − Depreciation: −$3,782
• Taxable income: $4,502
• Est. tax owed @ 24.0%: −$1,080
• After-tax cash flow: $5,101/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 — Grove City

• Score: 63/100
• State rank: #713
• US rank: #15171

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C- 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): 15,536
• Household income: $57,281
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 329.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 4%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% German/W. Germanic 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: ▼ -75.76%
• Current HPI: 325.0345
• Rent YoY: ▼ -0.11%
• 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

Price history

+98.9% since first listed

24 events — show timeline

• 2026-04-07 Listed $179,000 FORTMLS
• 2026-02-13 Rental Removed $1,500 TURBOTENANT
• 2026-01-13 Listed for Rent $1,500 TURBOTENANT
• 2025-12-10 Rental Removed $1,500 TURBOTENANT
• 2025-11-08 Listed for Rent $1,500 TURBOTENANT
• 2025-10-30 Rental Removed $1,500 TURBOTENANT
• 2025-09-29 Listed for Rent $1,500 TURBOTENANT
• 2024-05-17 Rental Removed $1,900 TURBOTENANT
• 2024-04-08 Listed for Rent $1,900 TURBOTENANT
• 2024-03-14 Rental Removed $1,900 APPFOLIO
• 2024-01-26 Price Changed $1,900 APPFOLIO
• 2024-01-24 Listed for Rent $1,700 APPFOLIO
• 2024-01-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-08-30 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-08-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-08-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-07-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-07-17 Listed $280,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-10-04 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-08-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-07-27 Listed $269,000 Stellar MLS as Distributed by MLS Grid
• 2008-05-22 Sold (Public Records) $95,000 Public Records
• 2006-12-07 Sold (Public Records) $90,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $3,201 · +2.3% YoY. Source: county tax records.