44648 Plumeria St · North Fort Myers, FL 33982

$314,999

4 bd · 2.0 ba · 1,499 sqft · Land · 7 Days on market

Built 2026 0.63 ac lot $434/mo HOA · 14% 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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Schools +4.6/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks

Welcome to the Freeport II, a stunning residence that boasts four bedrooms, two full bathrooms, and a spacious two-car garage. The heart of this home is its elegantly designed kitchen, featuring a corner pantry, stainless steel appliances, quartz countertops, and a generous island, making it ideal for both entertaining and daily living. The fourth bedroom can easily serve as a den or office, while the luxurious wood-look plank tile flooring throughout eliminates the need for carpet. Situated on an expansive waterfront lot, there is ample space for a future pool. Nestled within the Palmetto Landing Community, residents have access to a variety of amenities, including a welcoming clubhouse, a

Key facts

• 0.63 acre lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $315k.

Deal economics

• At list price, monthly cash flow is $-14 ($-172/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (1.7% below list).
• Recommended offer: $310k (1.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.6% in North Fort Myers — 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 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.
• Market conditions: Rents rising fast (+4.1%/yr); 1037 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $3,098/mo this rent would consume 51% 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 $2k of loan paydown is wiped out by about $9k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $309,771 (1.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.19%
• DSCR: 0.99
• GRM: 8.5

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: -15.1%
• Equity multiple: 0.45×
• Total profit: $-48,172
• Equity at exit: $46,967

10-year hold

• IRR: -4.4%
• Equity multiple: 0.69×
• Total profit: $-27,266
• Equity at exit: $27,235

Cash invested: $88,200 (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: 8.5×

Monthly cashflow live

• Estimated rent: $3,098 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$244 /mo · $2,932/yr
• Insurance: −$131
• HOA: −$434
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $-14

Break-even live

Break-even rent $3,116

Max offer price $312,470

Occupancy floor 95%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17710 Shade Tree Loop Punta Gorda, FL	4.0	2.0	1764	$3,000	$1.70	21d	1	0.23mi
16922 Sage Ter Punta Gorda, FL	4.0	2.0	1580	$3,500	$2.22	21d	1	0.90mi
44458 Diamond Trl Punta Gorda, FL	3.0	2.0	1484	$2,500	$1.68	21d	1	0.94mi
43693 Tree Top Trl Punta Gorda, FL	3.0	3.0	1850	$11,000	$5.95	21d	1	0.99mi
44229 Saddlewood Ct Punta Gorda, FL	4.0	2.0	1675	$2,395	$1.43	21d	1	1.32mi
44229 Saddlewood Ct Punta Gorda, FL	4.0	2.0	1675	$2,350	$1.40	13d	1	1.32mi

HOA detail

• Monthly dues: $434 · $5,208/yr
• Likely covers: waterpool

Listing history 2 events

1. 2026-04-13
   status Pending
2. 2026-04-06
   listed $314,999 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: $2,932 · $244/mo
• Projected year-2 tax: $2,932 · $244/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: $37,173
• − Mortgage interest: −$17,645
• − Property taxes: −$2,932
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,974
• − Management: −$2,974
• − HOA: −$5,208
• − Depreciation: −$9,164
• Taxable loss: −$5,299
• Est. tax savings @ 24.0%: +$1,272
• After-tax cash flow: $1,100/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

2 events — show timeline

• 2026-04-13 Pending — NAPLESMLS
• 2026-04-06 Listed $314,999 NAPLESMLS

Property tax history

+10.6%/yr

Latest (2025): $2,932 · +10.6% YoY. Source: county tax records.