229 Islamorada Blvd · Burnt Store Marina, FL 33955

$435,000

3 bd · 2.0 ba · 1,628 sqft · Condo public records · 132 Days on market

Built 1995 $380/mo HOA · 8% of rent

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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 +18.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• DSCR +5.7/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Impeccably maintained Danforth model 3/2/2 home in immaculate condition. Nothing to be done--move right in to this light and bright winter getaway or buy as a perfect investment for rental purposes. Buy a lifestyle in Burnt Store Marina, a secure gatedcommunity with 27-hole golf course.

Key facts

• Private pool
• New pool pump
• New ac system

Tags

• PRIVATE POOL
• NEW ROOF
• NEW AC SYSTEM
• SALT GENERATOR FOR THE POOL
• NEW POOL PUMP
• GATED WATERFRONT COMMUNITY

Property features AI

Finance

• Other: Irrigation equipment installed
• Financial info: Lease restrictions apply
• HOA & community: Association: Tarpon Pass II / Gateway Management; Secondary association: Burnt Store Marina Section 22 (annual fee $1,065); Monthly condo fee: $260; Pets allowed (cats and dogs)

Exterior

• Parking: Attached 2-car garage (20 x 20)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected
• Home design: Single family residence; One story; East-facing
• Construction: Block and stucco construction; Tile roof; Slab foundation; Built as Danforth model
• Exterior features: Rain gutters; Sliding doors; Sprinkler (metered); Private in-ground gunite pool; Marina water access (sailboat water)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; High ceilings; Living room/dining room combo; Split bedroom floorplan; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Inside laundry in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $435k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $435k).
• Recommended offer: $383k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.8% in Burnt Store Marina — 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 72/100 on livability (#354 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, cost of living C-, amenities F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1481 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $4,653/mo this rent would consume 73% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $35k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $295k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $382,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.07% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 7.8

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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-45,363
• Equity at exit: $64,860

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-6,477
• Equity at exit: $37,611

Cash invested: $121,800 (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: 7.8×

Monthly cashflow live

• Estimated rent: $4,653 high
• Mortgage (P&I): −$2,281
• Tax from tax record: −$443 /mo · $5,311/yr
• Insurance: −$181
• HOA: −$380
• Vacancy / Maint / Mgmt: −$977
• Net cashflow: $391

Break-even live

Break-even rent $4,158

Max offer price $435,000

Occupancy floor 87%

Sensitivity live

Price	-10% $637	-5% $514	+0% $391	+5% $268	+10% $144
Rent	-10% $23	-5% $207	+0% $391	+5% $574	+10% $758
Rate	-1.0pp $610	-0.5pp $501	base $391	+0.5pp $278	+1.0pp $163

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2091 King Tarpon Dr Punta Gorda, FL	3.0	2.0	1640	$5,200	$3.17	25d	1	0.15mi
3001 King Tarpon Dr Punta Gorda, FL	3.0	2.0	1734	$5,500	$3.17	25d	1	0.16mi
4005 Big Pass Ln Punta Gorda, FL	2.0	2.0	1423	$5,500	$3.87	17d	1	0.38mi
1001 Islamorada Blvd Unit 12A Punta Gorda, FL	2.0	2.0	1365	$1,600	$1.17	17d	1	0.39mi
5050 Marianne Key Rd Unit 1B Punta Gorda, FL	2.0	2.0	1347	$4,500	$3.34	17d	1	0.42mi
1010 Islamorada Blvd Punta Gorda, FL	3.0	2.0	1592	$4,700	$2.95	25d	1	0.42mi
24417 Baltic Ave #1102 Punta Gorda, FL	2.0	2.0	1788	$5,250	$2.94	25d	1	0.54mi
1610 Islamorada Blvd Unit 64A Punta Gorda, FL	2.0	2.0	1516	$2,000	$1.32	25d	1	0.76mi
17434 Oro Ct Punta Gorda, FL	3.0	2.5	1864	$2,000	$1.07	22d	1	0.83mi
17947 Courtside Landings Cir Punta Gorda, FL	3.0	2.0	1338	$5,500	$4.11	25d	1	0.86mi
5 Pirates Ln Unit 54B Punta Gorda, FL	2.0	2.0	1516	$4,600	$3.03	25d	1	0.87mi
3020 Matecumbe Key Rd #103 Punta Gorda, FL	2.0	2.0	1148	$5,200	$4.53	25d	1	0.94mi
17849 Hibiscus Cove Ct #1 Punta Gorda, FL	3.0	2.0	1937	$6,250	$3.23	25d	1	1.00mi
2060 Matecumbe Key Rd Punta Gorda, FL	2.0–3.0	2.0	1271	$5,400	$4.25	25d	3	1.01mi
3471 Sunset Key Cir #102 Punta Gorda, FL	3.0	2.0	1991	$5,750	$2.89	25d	1	1.05mi
17314 Cape Horn Blvd Punta Gorda, FL	3.0	2.0	2216	$2,800	$1.26	14d	1	1.07mi
3170 Matecumbe Key Rd #134 Punta Gorda, FL	2.0	2.0	1188	$1,899	$1.60	25d	1	1.09mi
3255 Sugarloaf Key Rd Unit 31B Punta Gorda, FL	2.0	2.0	1516	$3,000	$1.98	17d	1	1.12mi
3191 Matecumbe Key Rd #206 Punta Gorda, FL	2.0	2.0	1102	$4,400	$3.99	25d	1	1.14mi
3181 Matecumbe Key Rd Punta Gorda, FL	2.0	2.0	1254	$2,450	$1.95	25d	2	1.21mi
3313 Sunset Key Cir Unit Reservation spot 1 Punta Gorda, FL	2.0	2.0	2099	$2,750	$1.31	25d	1	1.24mi
3313 Sunset Key Cir Punta Gorda, FL	3.0	2.0–3.0	2089	$6,750	$3.23	25d	4	1.24mi
3250 Southshore Dr Unit 54B Punta Gorda, FL	3.0	2.0	2069	$5,750	$2.78	25d	1	1.27mi
3270 Southshore Dr Unit 72B Punta Gorda, FL	3.0	2.0	2069	$5,750	$2.78	25d	1	1.32mi
3280 Southshore Dr Unit 87A Punta Gorda, FL	3.0	2.0	2069	$4,000	$1.93	25d	1	1.35mi

HOA detail condo

• Monthly dues: $380 · $4,560/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-05-14
   status Pending
2. 2026-04-24
   price $435,000
3. 2026-04-22
   price $455,000
4. 2026-02-26
   price $460,000
5. 2026-02-02
   price $465,000
6. 2026-01-01
   listed $470,000 Active
7. 2025-05-21
   historical
8. 2025-01-02
   price $489,000
9. 2024-11-08
   price $519,000
10. 2024-07-02
    price $539,000
11. 2024-05-31
    price $548,000
12. 2024-05-31
    price $5,480,000
13. 2024-03-30
    price $568,000
14. 2024-03-06
    price $578,000
15. 2024-02-04
    price $598,000
16. 2024-01-21
    listed $619,000 Active
17. 2004-12-22
    soldstatus $295,000
18. 2004-12-20
    soldstatus $295,000 287-char remark

    Show marketing remark (287 chars)

    Impeccably maintained Danforth model 3/2/2 home in immaculate condition. Nothing to be done--move right in to this light and bright winter getaway or buy as a perfect investment for rental purposes. Buy a lifestyle in Burnt Store Marina, a secure gatedcommunity with 27-hole golf course.

19. 2004-10-07
    listed $299,000 287-char remark

    Show marketing remark (287 chars)

    Impeccably maintained Danforth model 3/2/2 home in immaculate condition. Nothing to be done--move right in to this light and bright winter getaway or buy as a perfect investment for rental purposes. Buy a lifestyle in Burnt Store Marina, a secure gatedcommunity with 27-hole golf course.

20. 1995-10-25
    soldstatus $135,000

ⓘ 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: $5,311 · $443/mo
• Projected year-2 tax: $5,311 · $443/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 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,834
• − Mortgage interest: −$24,367
• − Property taxes: −$5,311
• − Insurance: −$2,175
• − Repairs & maintenance: −$4,467
• − Management: −$4,467
• − HOA: −$4,560
• − Depreciation: −$12,655
• Taxable loss: −$2,167
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $5,209/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: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Burnt Store Marina

• Score: 72/100
• State rank: #354
• US rank: #6145

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnt Store Marina, FL
• County: Charlotte County · 196,994 people
• 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 (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

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 · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

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

+222.2% since first listed

20 events — show timeline

• 2026-05-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $435,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $455,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $460,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $465,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-01 Listed $470,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-01-02 Price Changed $489,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-08 Price Changed $519,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-02 Price Changed $539,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-31 Price Changed $548,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-31 Price Changed $5,480,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-30 Price Changed $568,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-06 Price Changed $578,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-04 Price Changed $598,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-21 Listed $619,000 Stellar MLS as Distributed by MLS Grid
• 2004-12-22 Sold (Public Records) $295,000 Public Records
• 2004-12-20 Sold (MLS) $295,000 Stellar MLS as Distributed by MLS Grid
• 2004-10-07 Listed $299,000 Stellar MLS as Distributed by MLS Grid
• 1995-10-25 Sold (Public Records) $135,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $5,311 · -0.0% YoY. Source: county tax records.