191 Tournament Rd · Rotonda, FL 33947

$190,000

3 bd · 2.5 ba · 2,280 sqft · Land · 294 Days on market

Built 2026 9,599 sqft lot $15/mo HOA · 1% 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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks MLS

Future New Home Site with a freshwater canal to the rear! This beautiful location is Rotonda West – Pine Valley, with city water and city sewer available! This property is located towards the southern area of Rotonda West, across from Pine Valley Golf Course! You will not be disappointed with the many Holes of Golf to choose from, all within minutes from this great location. This unique community also has miles of fresh water canals, have fun fishing and bird watching right out the back door! Enjoy this deed restricted community, with parks, walking and bike trails, including Cape Haze Pioneer Trail which runs along the eastern part of the community. This property is located 16 miles to Boca Grande Lighthouse (the most southern tip of Boca Grande) and 11 miles to the Englewood beaches. This area of Southwest Florida is best known for: excellent fishing, boating and golfing, with pristine gulf beaches close by! RPV 000 0000 0401

Key facts

• Private pool
• Freshwater canal
• Quartz counter tops

Tags

• PRIVATE POOL
• TROPICAL LANDSCAPED VIEW
• FRESHWATER CANAL
• OPEN-CONCEPT GREAT ROOM
• CUSTOM WOOD CABINETRY
• QUARTZ COUNTER TOPS

Property features AI

Finance

• Other: Total living area approximately 2,280 (builder source); total building area approximately 2,489; Lot about 0.22 acres (approximately 892 m²); Canal frontage approximately 80 feet; Direction/notes: Buyer to purchase and complete the home; home plans included in purchase; 2025 taxes shown are on vacant land
• HOA & community: Has optional HOA (Association: Derrick Hedges); HOA fee $190 annually (about $15.83/month); includes common area taxes, escrow reserves fund, and management; Deed restrictions; Golf community; Pets allowed

Exterior

• Parking: Attached 3-car garage (approx. 21 x 29)
• Utilities: Public water (also canal/lake for irrigation); Private sewer; Electricity connected; Cable available; Broadband/high-speed internet available; Sewer and water available
• Home design: Single family residence; One story; New construction; Property condition listed as fixer; Faces east
• Construction: Block construction; Other roof type; Slab foundation; Built by Callisto Contracting (model: Catalina 2)
• Exterior features: Canal frontage (freshwater); Canal water view and access; Cleared lot; Located in a flood zone; Near golf course; Paved and asphalt road access; Other exterior features

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Other flooring type
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Cooling: Other
• Interior features: Open floor plan; Split bedroom layout; 6 total rooms
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $190k.

Deal economics

• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

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: Rents soft (-0.2%/yr); 863 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.2% local appreciation)).
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.2% appreciation + 0.0% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 294 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $50k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $190k implies a 927% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 294 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. 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. 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: 1.49% ✓
• Cap rate: 12.96%
• Cash-on-cash: 23.81%
• DSCR: 2.06
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.71×
• Total profit: $37,885
• Equity at exit: $67,347

10-year hold

• IRR: 15.3%
• Equity multiple: 2.73×
• Total profit: $92,027
• Equity at exit: $91,451

Cash invested: $53,200 (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 33947

• Home prices YoY: 0.4%
• Rents YoY: -0.2%
• Active inventory: 863
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,829 high
• Mortgage (P&I): −$996
• Tax from tax record: −$89 /mo · $1,067/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$15
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $629

Break-even live

Break-even rent $2,033

Max offer price $190,000

Occupancy floor 73%

Sensitivity live

Price	-10% $737	-5% $683	+0% $629	+5% $575	+10% $522
Rent	-10% $406	-5% $517	+0% $629	+5% $741	+10% $853
Rate	-1.0pp $725	-0.5pp $677	base $629	+0.5pp $580	+1.0pp $530

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Caddy Rd Rotonda West, FL	3.0	2.0	1828	$2,795	$1.53	22d	1	0.85mi
127 White Marsh Ln Rotonda West, FL	3.0	2.0	2216	$2,700	$1.22	22d	1	0.87mi
155 Long Meadow Ln Rotonda West, FL	3.0	2.0	1598	$4,500	$2.82	22d	1	1.02mi
123 Marker Rd Rotonda West, FL	3.0	2.0	2006	$2,400	$1.20	15d	1	1.19mi
64 Golfview Rd Rotonda West, FL	4.0	2.0	1697	$1,795	$1.06	15d	1	1.26mi
230 Annapolis Ln Rotonda West, FL	3.0	2.0	1768	$1,800	$1.02	22d	1	1.34mi
239 Annapolis Ln Rotonda West, FL	3.0	2.0	1747	$2,000	$1.14	22d	1	1.41mi
12 Broadmoor Rd Unit 1 Rotonda West, FL	3.0	2.0	2065	$3,500	$1.69	22d	1	1.42mi
18 Golfview Ct Rotonda West, FL	3.0	2.0	1686	$3,000	$1.78	22d	1	1.44mi
3923 Cape Haze Dr #302 Rotonda West, FL	3.0	3.0	2044	$3,100	$1.52	22d	1	1.47mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: watersewer

Listing history 10 events

1. 2026-03-17
   price $190,000
2. 2026-01-26
   price $199,900
3. 2025-08-08
   listed $240,000 Active
4. 2020-07-31
   soldstatus $18,500
5. 2020-07-30
   soldstatus $18,500 Sold 952-char remark

   Show marketing remark (952 chars)

   Future New Home Site with a freshwater canal to the rear! This beautiful location is Rotonda West – Pine Valley, with city water and city sewer available! This property is located towards the southern area of Rotonda West, across from Pine Valley Golf Course! You will not be disappointed with the many Holes of Golf to choose from, all within minutes from this great location. This unique community also has miles of fresh water canals, have fun fishing and bird watching right out the back door! Enjoy this deed restricted community, with parks, walking and bike trails, including Cape Haze Pioneer Trail which runs along the eastern part of the community. This property is located 16 miles to Boca Grande Lighthouse (the most southern tip of Boca Grande) and 11 miles to the Englewood beaches. This area of Southwest Florida is best known for: excellent fishing, boating and golfing, with pristine gulf beaches close by! RPV 000 0000 0401

6. 2020-07-11
   status Pending 952-char remark

   Show marketing remark (952 chars)

   Future New Home Site with a freshwater canal to the rear! This beautiful location is Rotonda West – Pine Valley, with city water and city sewer available! This property is located towards the southern area of Rotonda West, across from Pine Valley Golf Course! You will not be disappointed with the many Holes of Golf to choose from, all within minutes from this great location. This unique community also has miles of fresh water canals, have fun fishing and bird watching right out the back door! Enjoy this deed restricted community, with parks, walking and bike trails, including Cape Haze Pioneer Trail which runs along the eastern part of the community. This property is located 16 miles to Boca Grande Lighthouse (the most southern tip of Boca Grande) and 11 miles to the Englewood beaches. This area of Southwest Florida is best known for: excellent fishing, boating and golfing, with pristine gulf beaches close by! RPV 000 0000 0401

7. 2020-06-19
   price $19,999 952-char remark

   Show marketing remark (952 chars)

   Future New Home Site with a freshwater canal to the rear! This beautiful location is Rotonda West – Pine Valley, with city water and city sewer available! This property is located towards the southern area of Rotonda West, across from Pine Valley Golf Course! You will not be disappointed with the many Holes of Golf to choose from, all within minutes from this great location. This unique community also has miles of fresh water canals, have fun fishing and bird watching right out the back door! Enjoy this deed restricted community, with parks, walking and bike trails, including Cape Haze Pioneer Trail which runs along the eastern part of the community. This property is located 16 miles to Boca Grande Lighthouse (the most southern tip of Boca Grande) and 11 miles to the Englewood beaches. This area of Southwest Florida is best known for: excellent fishing, boating and golfing, with pristine gulf beaches close by! RPV 000 0000 0401

8. 2019-10-12
   listed $23,900 Active 952-char remark

   Show marketing remark (952 chars)

   Future New Home Site with a freshwater canal to the rear! This beautiful location is Rotonda West – Pine Valley, with city water and city sewer available! This property is located towards the southern area of Rotonda West, across from Pine Valley Golf Course! You will not be disappointed with the many Holes of Golf to choose from, all within minutes from this great location. This unique community also has miles of fresh water canals, have fun fishing and bird watching right out the back door! Enjoy this deed restricted community, with parks, walking and bike trails, including Cape Haze Pioneer Trail which runs along the eastern part of the community. This property is located 16 miles to Boca Grande Lighthouse (the most southern tip of Boca Grande) and 11 miles to the Englewood beaches. This area of Southwest Florida is best known for: excellent fishing, boating and golfing, with pristine gulf beaches close by! RPV 000 0000 0401

9. 2019-04-30
   historical
10. 2018-05-04
    listed $27,500 Active

ⓘ 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: $1,067 · $89/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$510/yr (+$42/mo · 47.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $33,950
• − Mortgage interest: −$10,643
• − Property taxes: −$1,067
• − Insurance: −$6,068
• − Repairs & maintenance: −$2,716
• − Management: −$2,716
• − HOA: −$180
• − Depreciation: −$5,527
• Taxable income: $5,033
• Est. tax owed @ 24.0%: −$1,208
• After-tax cash flow: $6,341/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

• Census place: Rotonda, FL
• County: Charlotte County · 196,994 people
• City population: 10,490
• Metro: Punta Gorda, FL
• Population (ZIP): 10,447
• Household income: $80,091
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 91.0

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 (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 4%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 93% English-only · Russian/Polish/Slavic 3% 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: ▲ 1.25%
• Current HPI: 311.3231
• Rent YoY: ▼ -0.22%
• 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

+590.9% since first listed

10 events — show timeline

• 2026-03-17 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-08 Listed $240,000 Stellar MLS as Distributed by MLS Grid
• 2020-07-31 Sold (Public Records) $18,500 Public Records
• 2020-07-30 Sold (MLS) $18,500 Stellar MLS as Distributed by MLS Grid
• 2020-07-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-06-19 Price Changed $19,999 Stellar MLS as Distributed by MLS Grid
• 2019-10-12 Listed $23,900 Stellar MLS as Distributed by MLS Grid
• 2019-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-05-04 Listed $27,500 Stellar MLS as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2025): $1,067 · +0.3% YoY. Source: county tax records.