11403 & 11405 Alligator St · Punta Gorda, FL 33955

$199,900

4 bd · 2.0 ba · 1,224 sqft · MultiFamily public records · 28 Days on market

Built 1959 8,000 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 +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Under contract-accepting backup offers. Charming and fully furnished 2-bedroom, 1-bath duplex ideally located in Punta Gorda between Burnt Store Road and US-41/Tamiami Trail. Enjoy convenient access to shopping, dining, medical facilities, and I-75—making commutes to Fort Myers or Sarasota a breeze. This home blends classic Old Florida charm with modern conveniences, offering a warm and comfortable living space. The oversized yard provides ample room to relax, with no rear neighbors for added privacy. Tenant occupied—showings by appointment only with advance notice.

Key facts

• Oversized yard
• No rear neighbors
• Convenient access

Tags

• FULLY FURNISHED
• CONVENIENT ACCESS
• OVERSIZED YARD
• NO REAR NEIGHBORS

Property features AI

Finance

• Other: Total buildings: 1; Total acreage: 0.18 acres (less than 1/4 acre); Living area reported: 1,224 (public records); Total building area reported: 1,678 (public records); Unit details: two 2-bedroom units; each unit heated area listed as 839 and pro forma listed as 1,200
• Financial info: Property operates as residential income with two units; Gross income reported: $28,800; Annual net income reported: $18,658; Gross lease terms; tenant pays electricity
• HOA & community: No association

Exterior

• Utilities: Well water; Septic tank; Electricity connected (private)
• Home design: Duplex (residential income property); One story
• Construction: Block and stucco construction; Metal roof; Slab foundation; Building completed
• Exterior features: Covered, enclosed and screened porch; Private mailbox; Corner lot; Paved lot and road

Interior

• Kitchen: Cooktop; Range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms total; Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Tile
• Bathrooms: Each unit has 1 bathroom (two units total)
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Kitchen/family room combo
• Laundry & utility: No laundry room (None listed)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $863/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 2.8% in Punta Gorda — 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 76/100 on livability (#225 in FL, #3,567 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, health & safety A+; Watch: cost of living D+, amenities D-, 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.
• Market conditions: 1481 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $4,054/mo this rent would consume 63% of the median local household income ($77k/yr) (locally 226% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 2.03% ✓
• Cap rate: 16.65%
• Cash-on-cash: 36.99%
• DSCR: 2.65
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 32.9%
• Equity multiple: 2.39×
• Total profit: $77,623
• Equity at exit: $29,806

10-year hold

• IRR: 39.9%
• Equity multiple: 4.74×
• Total profit: $209,587
• Equity at exit: $17,284

Cash invested: $55,972 (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 33955

• Home prices YoY: -24.5%
• Active inventory: 1481
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $4,054 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$346 /mo · $4,147/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$851
• Net cashflow: $1,725

Break-even live

Break-even rent $1,870

Max offer price $199,900

Occupancy floor 52%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,054
Total (2 units)			$4,054

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7361 S Plum Tree Punta Gorda, FL	3.0	2.0	1373	$1,900	$1.38	21d	1	0.67mi

Listing history 26 events

1. 2026-06-05
   remarks 572-char remark
2. 2026-06-05
   statusdays on market $199,900 Pending 28 DOM
3. 2026-06-03
   days on market $199,900 Active 27 DOM
4. 2026-06-02
   days on market $199,900 Active 26 DOM
5. 2026-06-01
   days on market $199,900 Active 25 DOM
6. 2026-05-31
   days on market $199,900 Active 24 DOM
7. 2026-05-30
   days on market $199,900 Active 23 DOM
8. 2026-05-07
   listed $199,900 Active
9. 2025-05-04
   historical $1,200
10. 2025-04-21
    listed $1,200
11. 2025-04-21
    historical $1,200
12. 2025-02-20
    price $1,200
13. 2025-01-25
    listed $1,400
14. 2025-01-25
    historical $1,400
15. 2025-01-24
    listed $1,400
16. 2025-01-09
    price $350,000
17. 2024-12-17
    historical
18. 2024-11-20
    listed $360,000 Active
19. 2024-11-20
    listed $360,000 Active
20. 2023-12-22
    soldstatus $325,000
21. 2023-12-21
    status Pending
22. 2023-12-19
    soldstatus $325,000 Closed
23. 2023-12-19
    soldstatus $325,000 Closed
24. 2023-11-14
    status Pending
25. 2023-11-07
    listed $324,900 Active
26. 2002-07-12
    soldstatus $30,000

ⓘ 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: $4,147 · $346/mo
• Projected year-2 tax: $4,147 · $346/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 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $48,648
• − Mortgage interest: −$11,198
• − Property taxes: −$4,147
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,892
• − Management: −$3,892
• − Depreciation: −$5,815
• Taxable income: $18,705
• Est. tax owed @ 24.0%: −$4,489
• After-tax cash flow: $16,216/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 — Punta Gorda

• Score: 76/100
• State rank: #225
• US rank: #3567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Charlotte County · 196,994 people
• City population: 68,831
• Metro: Punta Gorda, FL
• Population (ZIP): 12,399
• Household income: $76,943
• Rent vs Own: 9.5% rent · 90.5% own
• Severe rent burden: 226.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 4%
• Common ancestry: Romanian 5% Italian 3% Serbian 3%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 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: ▼ -78.71%
• Current HPI: 242.9043
• Rent YoY: —
• 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

+566.3% since first listed

19 events — show timeline

• 2026-05-07 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-04 Rental Removed $1,200 APPFOLIO
• 2025-04-21 Listed for Rent $1,200 APPFOLIO
• 2025-04-21 Rental Removed $1,200 APPFOLIO
• 2025-02-20 Price Changed $1,200 APPFOLIO
• 2025-01-25 Listed for Rent $1,400 APPFOLIO
• 2025-01-25 Rental Removed $1,400 STELLARMLS
• 2025-01-24 Listed for Rent $1,400 STELLARMLS
• 2025-01-09 Price Changed $350,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-11-20 Listed $360,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-20 Listed $360,000 Stellar MLS as Distributed by MLS Grid
• 2023-12-22 Sold (Public Records) $325,000 Public Records
• 2023-12-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-12-19 Sold (MLS) $325,000 Stellar MLS as Distributed by MLS Grid
• 2023-12-19 Sold (MLS) $325,000 Stellar MLS as Distributed by MLS Grid
• 2023-11-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-11-07 Listed $324,900 Stellar MLS as Distributed by MLS Grid
• 2002-07-12 Sold (Public Records) $30,000 Public Records

Property tax history

+12.7%/yr

Latest (2025): $4,147 · -5.7% YoY. Source: county tax records.