8301 Pelican Rd · Grove City, FL 34224

$229,000

3 bd · 3.0 ba · 1,344 sqft · SingleFamily public records · 180 Days on market

Built 1974 10,282 sqft lot Est $261k · 12% 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 +13.9/30.0
• ARV discount +13.0/15.0
• Schools +4.6/10.0
• 1% rule +4.3/10.0
• DSCR +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this desirable 3 bedroom 3 bathroom home, with TWO master suites! This home offers tile floors throughout, a carport, inside laundry room, screened lanai, spacious fenced yard and a smart thermostat. The A/C was replaced in 2019 and the windows have been updated. Currently occupied by a month to month tenant with a 24 hour showing notice required.

Key facts

• Private yard
• Flexible-use home
• Quiet neighborhood

Tags

• PRIVATE YARD
• ENCLOSED PATIO
• QUIET NEIGHBORHOOD
• CLOSE TO BEACHES
• STRONG RENTAL POTENTIAL
• FLEXIBLE-USE HOME

Property features AI

Finance

• Other: Furnished; Property type: Residential — Single Family Residence; Zoning: RSF5; Lot approximately 0.24 acres; Public maintained asphalt road; Living area reported as 1,344 square feet
• HOA & community: Community street lights; Pets allowed

Exterior

• Parking: Covered parking; Driveway; Carport (2 spaces)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Broadband/high-speed internet available
• Home design: Single-family residence; One story; North facing; Completed condition
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as a single-story home
• Exterior features: Covered patio; Screened patio; Patio; Sliding doors; Private mailbox; Chain link fence; Street dead-end lot; Paved lot; Mature landscaping with trees

Interior

• Kitchen: Cooktop; Range; Range hood; Microwave; Dishwasher; Disposal; Refrigerator; Freezer
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Solid surface counters; Thermostat; Window treatments; Blinds
• Laundry & utility: Inside laundry with washer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-39 ($-473/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (6.8% below list).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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-, 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.
• 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: Rents soft (-0.1%/yr); 734 active listings in the ZIP; 20 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 45% 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 $2k of loan paydown is wiped out by about $7k 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 180 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $201,520 (12.0% 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 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $260,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8650 Saint Kitts Cir	0.67mi	3/2.0	1,422 (+6%)	8mo	$270,000	$190	49
8706 Seasalt Loop	0.71mi	3/2.0	1,417 (+5%)	10mo	$268,000	$189	46
8700 Seasalt Loop	0.71mi	3/2.0	1,417 (+5%)	11mo	$258,000	$182	44
8646 Seasalt Loop	0.71mi	3/2.0	1,417 (+5%)	13mo	$249,000	$176	43
101 Lady Ln	0.61mi	3/2.0	1,502 (+12%)	7mo	$410,000	$273	42
8628 Seasalt Loop	0.71mi	3/2.0	1,417 (+5%)	14mo	$260,000	$183	42
8745 Saint Kitts Cir	0.66mi	3/2.0	1,423 (+6%)	18mo	$300,318	$211	40
8686 Saint Kitts Cir	0.68mi	3/2.0	1,417 (+5%)	18mo	$275,000	$194	40
8704 Saint Kitts Cir	0.68mi	3/2.0	1,417 (+5%)	21mo	$299,997	$212	38
8679 Seasalt Loop	0.73mi	2/2.0 (-1)	1,417 (+5%)	14mo	$249,000	$176	36
8740 Saint Kitts Cir	0.69mi	3/2.0	1,417 (+5%)	23mo	$295,000	$208	36
8559 Seasalt Loop	0.70mi	3/2.0	1,417 (+5%)	23mo	$325,563	$230	35

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.29×
• Total profit: $-45,755
• Equity at exit: $34,145

10-year hold

• IRR: -25.0%
• Equity multiple: -0.04×
• Total profit: $-66,763
• Equity at exit: $19,800

Cash invested: $64,120 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,134 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$363 /mo · $4,353/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-39

Break-even live

Break-even rent $2,184

Max offer price $222,031

Occupancy floor 97%

Sensitivity live

Price	-10% $90	-5% $25	+0% $-39	+5% $-104	+10% $-169
Rent	-10% $-208	-5% $-124	+0% $-39	+5% $45	+10% $129
Rate	-1.0pp $76	-0.5pp $19	base $-39	+0.5pp $-99	+1.0pp $-159

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4341 Placida Rd #5 Englewood, FL	2.0	2.0	1071	$1,350	$1.26	21d	1	0.29mi
4341 Placida Rd #6 Englewood, FL	2.0	2.0	1071	$1,450	$1.35	21d	1	0.29mi
8146 Saint Kitts Cir Englewood, FL	3.0	2.0	1635	$2,400	$1.47	21d	1	0.35mi
8787 Saint Kitts Cir Englewood, FL	3.0	2.0	1422	$2,300	$1.62	14d	1	0.62mi
8644 Saint Kitts Cir Englewood, FL	3.0	3.0	1849	$2,095	$1.13	21d	1	0.63mi
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
42 Mark Twain Ln Rotonda West, FL	3.0	2.5	1677	$2,800	$1.67	21d	1	1.39mi
8363 Sago Ct Englewood, FL	2.0	2.0	1360	$1,950	$1.43	21d	1	1.46mi

Listing history 16 events

1. 2026-03-04
   price $229,000
2. 2026-02-16
   price $235,000
3. 2025-11-28
   listed $245,000 Active
4. 2022-10-21
   soldstatus $245,000 Closed 359-char remark

   Show marketing remark (359 chars)

   Come see this desirable 3 bedroom 3 bathroom home, with TWO master suites! This home offers tile floors throughout, a carport, inside laundry room, screened lanai, spacious fenced yard and a smart thermostat. The A/C was replaced in 2019 and the windows have been updated. Currently occupied by a month to month tenant with a 24 hour showing notice required.

5. 2022-10-21
   soldstatus $245,000

   Show marketing remark (359 chars)

   Come see this desirable 3 bedroom 3 bathroom home, with TWO master suites! This home offers tile floors throughout, a carport, inside laundry room, screened lanai, spacious fenced yard and a smart thermostat. The A/C was replaced in 2019 and the windows have been updated. Currently occupied by a month to month tenant with a 24 hour showing notice required.

6. 2022-08-22
   status Pending 359-char remark

   Show marketing remark (359 chars)

   Come see this desirable 3 bedroom 3 bathroom home, with TWO master suites! This home offers tile floors throughout, a carport, inside laundry room, screened lanai, spacious fenced yard and a smart thermostat. The A/C was replaced in 2019 and the windows have been updated. Currently occupied by a month to month tenant with a 24 hour showing notice required.

7. 2022-08-16
   listed $245,000 Active 359-char remark

   Show marketing remark (359 chars)

   Come see this desirable 3 bedroom 3 bathroom home, with TWO master suites! This home offers tile floors throughout, a carport, inside laundry room, screened lanai, spacious fenced yard and a smart thermostat. The A/C was replaced in 2019 and the windows have been updated. Currently occupied by a month to month tenant with a 24 hour showing notice required.

8. 2009-08-10
   soldstatus $65,000
9. 2009-07-28
   soldstatus $65,000 193-char remark

   Show marketing remark (193 chars)

   Lovely 3 BR home situated on 1-1/2 lots, perfect for the growing family. Unique custom kitchen with antique pine hand-finished countertops with multi-coat Poly seal and Tile floors throughout.

10. 2009-05-27
    listed $65,900 193-char remark

    Show marketing remark (193 chars)

    Lovely 3 BR home situated on 1-1/2 lots, perfect for the growing family. Unique custom kitchen with antique pine hand-finished countertops with multi-coat Poly seal and Tile floors throughout.

11. 2005-09-21
    soldstatus $174,500
12. 2005-09-16
    soldstatus $174,500
13. 2005-04-12
    listed $176,500
14. 2001-03-26
    soldstatus $74,500
15. 2000-03-07
    soldstatus $46,300
16. 1995-12-29
    soldstatus $62,000

ⓘ 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: $4,353 · $363/mo
• Projected year-2 tax: $4,353 · $363/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: $25,611
• − Mortgage interest: −$12,828
• − Property taxes: −$4,353
• − Insurance: −$1,942
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − Depreciation: −$6,662
• Taxable loss: −$4,271
• Est. tax savings @ 24.0%: +$1,025
• After-tax cash flow: $552/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

+269.4% since first listed

16 events — show timeline

• 2026-03-04 Price Changed $229,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-16 Price Changed $235,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-28 Listed $245,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-21 Sold (Public Records) $245,000 Public Records
• 2022-10-21 Sold (MLS) $245,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-08-16 Listed $245,000 Stellar MLS as Distributed by MLS Grid
• 2009-08-10 Sold (Public Records) $65,000 Public Records
• 2009-07-28 Sold (MLS) $65,000 Stellar MLS as Distributed by MLS Grid
• 2009-05-27 Listed $65,900 Stellar MLS as Distributed by MLS Grid
• 2005-09-21 Sold (Public Records) $174,500 Public Records
• 2005-09-16 Sold (MLS) $174,500 Stellar MLS as Distributed by MLS Grid
• 2005-04-12 Listed $176,500 Stellar MLS as Distributed by MLS Grid
• 2001-03-26 Sold (Public Records) $74,500 Public Records
• 2000-03-07 Sold (Public Records) $46,300 Public Records
• 1995-12-29 Sold (Public Records) $62,000 Public Records

Property tax history

+15.4%/yr

Latest (2025): $4,353 · -1.6% YoY. Source: county tax records.