16672 Expedition Ct · North Fort Myers, FL 33982

$379,380

4 bd · 2.0 ba · 1,901 sqft · Land public records · 265 Days on market

Built 2024 5,750 sqft lot $484/mo HOA · 17% of rent ↓ 14% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +4.6/30.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

BRAND NEW energy - efficient home NOW! This four-bedroom home is the perfect space. Prepare meals at the large kitchen island without missing the conversation in the great room in this home’s open floorplan. Entertain guests on the covered lanai. Visit Crescent Lakes and explore a gated community of single-family homes for sale in Southwest FL. The solar powered, master planned community Babcock Ranch offers resort-style amenities, shopping and dining, and a unique green STEAM based school. Homeowners will have access to a private amenity center as well. Schedule a community tour today and see the innovative, energy-efficient features that our homes are known for. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

Key facts

• Large kitchen island
• Gated community
• Impact glass windows

Tags

• BLOCK CONSTRUCTION
• IMPACT GLASS WINDOWS
• SPRAY FOAM INSULATION
• LARGE KITCHEN ISLAND
• COVERED LANAI
• GATED COMMUNITY

Property features AI

Finance

• Other: Home warranty included; Irrigation equipment present; Community features: golf carts allowed, reclaimed water irrigation, park, playground, pool, sidewalks, and street lights; Pets allowed
• Financial info: CDD: Yes
• HOA & community: Has HOA (Evergreen Lifestyles Management); Monthly HOA: $343; Additional monthly maintenance: $141; Association amenities include cable TV, gated access, golf course, maintenance, park, pickleball courts, playground, pool, recreation facilities, and trails; Association fee includes common area taxes, pool, electricity, maintenance, sewer, water, and other services

Exterior

• Parking: Attached 2-car garage (20x20) with driveway
• Security: Gated community; Smoke detectors
• Utilities: Canal/lake irrigation water source; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; One story; Southwest facing; Completed condition
• Construction: Block and concrete construction; Shingle roof; Slab foundation; New construction; Built by Meritage Homes (Builder model: Dove)
• Exterior features: Sidewalk; Sliding doors; Vinyl fencing; Corner lot; Landscaped; Paved; Private maintained road

Interior

• Kitchen: Convection oven; Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combo; Open floorplan; Walk-in closet(s); Window treatments; Blinds; Double-pane windows; Family room (additional room)
• Laundry & utility: Washer and dryer included; Laundry room inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $379k.

Deal economics

• At list price, monthly cash flow is $-953 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (44.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (23.0% below list).
• Recommended offer: $211k (44.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety 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: East Elementary School (math 67% / reading 68%, grade B+, #435 of 2,144 statewide, top 21%, 761 students, 52% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 1037 active listings in the ZIP; 28 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).
• At $2,920/mo this rent would consume 48% of the median local household income ($72k/yr) (locally 43% 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 $3k of loan paydown is wiped out by about $11k 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 265 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $210,990 (44.4% 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 265 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 3.28%
• Cash-on-cash: -10.77%
• DSCR: 0.52
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.13% rent growth · sell at horizon

5-year hold

• IRR: -34.0%
• Equity multiple: -0.11×
• Total profit: $-118,394
• Equity at exit: $56,567

10-year hold

• IRR: -33.9%
• Equity multiple: -0.56×
• Total profit: $-165,402
• Equity at exit: $32,802

Cash invested: $106,226 (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 33982

• Home prices YoY: -1.2%
• Rents YoY: 4.1%
• Active inventory: 1037
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,920 medium
• Mortgage (P&I): −$1,990
• Tax from tax record: −$628 /mo · $7,540/yr
• Insurance: −$158
• HOA: −$484
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-953

Break-even live

Break-even rent $4,126

Max offer price $210,990

Occupancy floor —

Sensitivity live

Price	-10% $-738	-5% $-846	+0% $-953	+5% $-1,061	+10% $-1,168
Rent	-10% $-1,184	-5% $-1,069	+0% $-953	+5% $-838	+10% $-723
Rate	-1.0pp $-762	-0.5pp $-857	base $-953	+0.5pp $-1,052	+1.0pp $-1,152

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: $94,845
• Closing costs: $11,381
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16922 Sage Ter Punta Gorda, FL	4.0	2.0	1580	$3,500	$2.22	21d	1	0.20mi
44458 Diamond Trl Punta Gorda, FL	3.0	2.0	1484	$2,500	$1.68	21d	1	0.23mi
44229 Saddlewood Ct Punta Gorda, FL	4.0	2.0	1675	$2,395	$1.43	21d	1	0.29mi
44229 Saddlewood Ct Punta Gorda, FL	4.0	2.0	1675	$2,350	$1.40	14d	1	0.29mi
17339 Palmetto Pass Ln Punta Gorda, FL	3.0	3.0	2464	$5,000	$2.03	21d	1	0.93mi
17710 Shade Tree Loop Punta Gorda, FL	4.0	2.0	1764	$3,000	$1.70	21d	1	0.94mi
15907 Sugar Hill Dr Unit 15907 Punta Gorda, FL	3.0	3.0	2247	$9,500	$4.23	21d	1	0.97mi
43693 Tree Top Trl Punta Gorda, FL	3.0	3.0	1850	$11,000	$5.95	21d	1	0.97mi
43050 Greenway Blvd Punta Gorda, FL	2.0–3.0	2.0	1235	$6,000	$4.86	14d	2	0.98mi
43041 Greenway Blvd Punta Gorda, FL	2.0–3.0	2.0	1569	$7,500	$4.78	21d	3	1.01mi
15943 Grassland Ln #3912 Punta Gorda, FL	3.0	2.0	1741	$8,800	$5.05	21d	1	1.01mi
17604 Fallen Branch Way Punta Gorda, FL	4.0	3.0	2027	$2,700	$1.33	21d	1	1.02mi
15919 Grassland Ln #4211 Punta Gorda, FL	3.0	2.0	1741	$8,800	$5.05	21d	1	1.08mi
43020 Greenway Blvd Punta Gorda, FL	2.0–3.0	2.0	1243	$6,500	$5.23	14d	7	1.11mi
15903 Grassland Ln #4411 Punta Gorda, FL	3.0	2.0	1741	$7,500	$4.31	21d	1	1.12mi
15405 Green Acres Ave #2331 Punta Gorda, FL	3.0	2.0	1301	$5,500	$4.23	21d	1	1.15mi
43997 Boardwalk Loop #1821 Punta Gorda, FL	3.0	2.0	1301	$6,500	$5.00	21d	1	1.19mi
15345 Green Acres Ave #2111 Punta Gorda, FL	3.0	2.0	1301	$4,795	$3.69	21d	1	1.22mi
43985 Boardwalk Loop #2138 Punta Gorda, FL	3.0	2.0	1301	$1,975	$1.52	21d	1	1.23mi
43989 Boardwalk Loop #2028 Punta Gorda, FL	3.0	2.0	1301	$5,500	$4.23	21d	1	1.23mi
15375 Green Acres Ave #2211 Punta Gorda, FL	3.0	2.0	1301	$2,295	$1.76	21d	1	1.24mi
15275 Green Acres Ave #338 Punta Gorda, FL	3.0	2.0	1301	$4,795	$3.69	21d	1	1.32mi
43038 Parkside Ct Punta Gorda, FL	3.0	2.0	1677	$2,500	$1.49	21d	1	1.36mi
15222 Jadestone Dr Punta Gorda, FL	3.0	3.0	2444	$3,400	$1.39	21d	1	1.38mi
15919 Leaning Pine Ln Punta Gorda, FL	3.0	3.0	2247	$10,000	$4.45	21d	1	1.39mi
43270 Boardwalk Loop Punta Gorda, FL	3.0	3.0	2247	$10,000	$4.45	21d	1	1.43mi
43330 Water Bird Way #6911 Punta Gorda, FL	3.0	2.0	1741	$8,800	$5.05	21d	1	1.49mi
16397 Preservation Blvd Punta Gorda, FL	4.0	3.5	2353	$2,800	$1.19	21d	1	1.49mi

HOA detail

• Monthly dues: $484 · $5,808/yr
• Likely covers: security

Listing history 29 events

1. 2026-06-18
   days on market $379,380 Active 265 DOM
2. 2026-06-17
   days on market $379,380 Active 264 DOM
3. 2026-06-16
   days on market $379,380 Active 263 DOM
4. 2026-06-15
   days on market $379,380 Active 262 DOM
5. 2026-06-14
   days on market $379,380 Active 260 DOM
6. 2026-06-13
   days on market $379,380 Active 259 DOM
7. 2026-06-10
   days on market $379,380 Active 257 DOM
8. 2026-06-09
   days on market $379,380 Active 256 DOM
9. 2026-06-08
   days on market $379,380 Active 255 DOM
10. 2026-06-05
    days on market $379,380 Active 251 DOM
11. 2026-06-02
    days on market $379,380 Active 249 DOM
12. 2026-06-01
    days on market $379,380 Active 248 DOM
13. 2026-05-31
    days on market $379,380 Active 247 DOM
14. 2026-05-30
    days on market $379,380 Active 246 DOM
15. 2026-05-11
    status Pending 840-char remark

    Show marketing remark (840 chars)

    BRAND NEW energy - efficient home NOW! This four-bedroom home is the perfect space. Prepare meals at the large kitchen island without missing the conversation in the great room in this home’s open floorplan. Entertain guests on the covered lanai. Visit Crescent Lakes and explore a gated community of single-family homes for sale in Southwest FL. The solar powered, master planned community Babcock Ranch offers resort-style amenities, shopping and dining, and a unique green STEAM based school. Homeowners will have access to a private amenity center as well. Schedule a community tour today and see the innovative, energy-efficient features that our homes are known for. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

16. 2026-04-15
    price $334,990 840-char remark

    Show marketing remark (840 chars)

    BRAND NEW energy - efficient home NOW! This four-bedroom home is the perfect space. Prepare meals at the large kitchen island without missing the conversation in the great room in this home’s open floorplan. Entertain guests on the covered lanai. Visit Crescent Lakes and explore a gated community of single-family homes for sale in Southwest FL. The solar powered, master planned community Babcock Ranch offers resort-style amenities, shopping and dining, and a unique green STEAM based school. Homeowners will have access to a private amenity center as well. Schedule a community tour today and see the innovative, energy-efficient features that our homes are known for. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

17. 2026-04-13
    listed $349,990 Active 840-char remark

    Show marketing remark (840 chars)

    BRAND NEW energy - efficient home NOW! This four-bedroom home is the perfect space. Prepare meals at the large kitchen island without missing the conversation in the great room in this home’s open floorplan. Entertain guests on the covered lanai. Visit Crescent Lakes and explore a gated community of single-family homes for sale in Southwest FL. The solar powered, master planned community Babcock Ranch offers resort-style amenities, shopping and dining, and a unique green STEAM based school. Homeowners will have access to a private amenity center as well. Schedule a community tour today and see the innovative, energy-efficient features that our homes are known for. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

18. 2026-01-02
    historical
19. 2025-10-17
    listed $355,380 Active
20. 2025-10-15
    historical
21. 2025-10-15
    historical
22. 2025-09-30
    price $355,380
23. 2025-09-30
    price $355,380
24. 2025-09-26
    listed $379,380 Active
25. 2025-09-19
    listed $370,380 Active
26. 2025-08-26
    price $379,380
27. 2025-08-05
    price $356,380
28. 2025-03-03
    price $384,380
29. 2025-01-30
    listed $389,380 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: $7,540 · $628/mo
• Projected year-2 tax: $7,540 · $628/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $35,038
• − Mortgage interest: −$21,251
• − Property taxes: −$7,540
• − Insurance: −$1,897
• − Repairs & maintenance: −$2,803
• − Management: −$2,803
• − HOA: −$5,808
• − Depreciation: −$11,037
• Taxable loss: −$18,100
• Est. tax savings @ 24.0%: +$4,344
• After-tax cash flow: $-7,095/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C- Housing A+ 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: 57,035
• Metro: Punta Gorda, FL
• Population (ZIP): 13,006
• Household income: $72,443
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 43.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 8% Hispanic / Latino 7% Black 7%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 3% Iranian 3% Slovak 3%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1% Arabic 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: ▼ -5.25%
• Current HPI: 448.5895
• Rent YoY: ▲ 4.13%
• 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

-14.0% since first listed

15 events — show timeline

• 2026-05-11 Pending — FORTMLS
• 2026-04-15 Price Changed $334,990 FORTMLS
• 2026-04-13 Listed $349,990 FORTMLS
• 2026-01-02 Listing Removed — FORTMLS
• 2025-10-17 Listed $355,380 FORTMLS
• 2025-10-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-15 Listing Removed — FORTMLS
• 2025-09-30 Price Changed $355,380 Stellar MLS as Distributed by MLS Grid
• 2025-09-30 Price Changed $355,380 FORTMLS
• 2025-09-26 Listed $379,380 Stellar MLS as Distributed by MLS Grid
• 2025-09-19 Listed $370,380 Stellar MLS as Distributed by MLS Grid
• 2025-08-26 Price Changed $379,380 FORTMLS
• 2025-08-05 Price Changed $356,380 FORTMLS
• 2025-03-03 Price Changed $384,380 FORTMLS
• 2025-01-30 Listed $389,380 FORTMLS

Property tax history

+130.7%/yr

Latest (2025): $7,540 · +130.7% YoY. Source: county tax records.