14091 Heritage Landing Blvd #121

Punta Gorda, FL 33955

$309,000F

2 bd · 2.0 ba · 1,407 sqft · Built 2020 · Condo · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,419/mo
• Mortgage (P&I): −$1,620
• Tax + insurance: −$1,044
• HOA: −$935
• Vac / Maint / Mgmt: −$508
• Net cashflow: $-1,688/mo
• Annual: $-20,256/yr
• Cap rate: 1.39%
• Cash-on-cash: -17.50%
• DSCR: 0.22
• 1% rule: 0.78%
• Cash to close: $86,520

Investor read

• This is a 2-bed/2.0-bath condo listed at $309k. Condition is rated excellent.
• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $80k (74.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (21.7% below list).
• It's been on market 69 days — a 6% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (74.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#225 in FL, #3,567 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing B; 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.
• Zoned schools: Sallie Jones Elementary School (math 75% / reading 74%, grade A, #230 of 2,144 statewide, top 12%, 694 students, 47% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Watch-outs: flood insurance adds $427/mo; HOA is 39% of rent.
• Market conditions: 1481 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 2y 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.
• Current owner paid $265k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 1.4% vs local median 2.8% in Punta Gorda — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 38% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 74% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?