6117 Balboa Ter · North Port, FL 34291

$359,900

4 bd · 2.0 ba · 1,868 sqft · Land · 110 Days on market

Built 2026 10,000 sqft lot

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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 +6.5/30.0
• Schools +5.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under Construction. This BRAND NEW beautifully appointed Cypress floorplan features 1868 sq feet of living area with four bedrooms, a den and two full bathrooms. Kitchen features granite counters with a four inch backsplash, stainless appliances and shaker style cabinets. Home features wide colonial style baseboards and luxurious laminate throughout, exterior features include hurricane impact windows, concrete driveway, bahia sod and an upgraded front yard landscape package. Great starter home for the young family or ideal for a retiring family. * Photos depict a recently completed Cypress Model from Kanopy Homes * .

Key facts

• Stainless appliances
• Cypress floorplan
• Granite counters

Tags

• CYPRESS FLOORPLAN
• GRANITE COUNTERS
• STAINLESS APPLIANCES
• SHAKER STYLE CABINETS
• HURRICANE IMPACT WINDOWS
• CONCRETE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $360k.

Deal economics

• At list price, monthly cash flow is $-607 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (33.9% below list).
• Recommended offer: $238k (33.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#252 in FL, #3,975 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 540 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 31% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $16k; list at $360k implies a 2149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $238,044 (33.9% 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 110 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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. 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: 0.66% ✗
• Cap rate: 4.27%
• Cash-on-cash: -7.22%
• DSCR: 0.68
• GRM: 12.6

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: -28.9%
• Equity multiple: 0.04×
• Total profit: $-96,920
• Equity at exit: $53,662

10-year hold

• IRR: -28.7%
• Equity multiple: -0.33×
• Total profit: $-134,001
• Equity at exit: $31,118

Cash invested: $100,772 (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 34291

• Home prices YoY: -9.1%
• Active inventory: 540
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,380 medium
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $-607

Break-even live

Break-even rent $3,148

Max offer price $272,119

Occupancy floor —

Sensitivity live

Price	-10% $-358	-5% $-482	+0% $-607	+5% $-731	+10% $-855
Rent	-10% $-795	-5% $-701	+0% $-607	+5% $-513	+10% $-419
Rate	-1.0pp $-425	-0.5pp $-515	base $-607	+0.5pp $-700	+1.0pp $-795

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $359,900 Active 110 DOM
2. 2026-06-18
   days on market $359,900 Active 107 DOM
3. 2026-06-17
   days on market $359,900 Active 106 DOM
4. 2026-06-16
   days on market $359,900 Active 105 DOM
5. 2026-06-15
   days on market $359,900 Active 104 DOM
6. 2026-06-13
   days on market $359,900 Active 102 DOM
7. 2026-06-13
   days on market $359,900 Active 101 DOM
8. 2026-06-10
   days on market $359,900 Active 99 DOM
9. 2026-06-09
   days on market $359,900 Active 98 DOM
10. 2026-06-08
    days on market $359,900 Active 97 DOM
11. 2026-06-08
    days on market $359,900 Active 96 DOM
12. 2026-06-05
    days on market $359,900 Active 93 DOM
13. 2026-06-03
    days on market $359,900 Active 92 DOM
14. 2026-06-02
    days on market $359,900 Active 91 DOM
15. 2026-06-01
    days on market $359,900 Active 90 DOM
16. 2026-05-31
    days on market $359,900 Active 89 DOM
17. 2026-05-01
    price $359,900 624-char remark

    Show marketing remark (624 chars)

    Under Construction. This BRAND NEW beautifully appointed Cypress floorplan features 1868 sq feet of living area with four bedrooms, a den and two full bathrooms. Kitchen features granite counters with a four inch backsplash, stainless appliances and shaker style cabinets. Home features wide colonial style baseboards and luxurious laminate throughout, exterior features include hurricane impact windows, concrete driveway, bahia sod and an upgraded front yard landscape package. Great starter home for the young family or ideal for a retiring family. * Photos depict a recently completed Cypress Model from Kanopy Homes * .

18. 2026-03-03
    listed $367,900 Active 624-char remark

    Show marketing remark (624 chars)

    Under Construction. This BRAND NEW beautifully appointed Cypress floorplan features 1868 sq feet of living area with four bedrooms, a den and two full bathrooms. Kitchen features granite counters with a four inch backsplash, stainless appliances and shaker style cabinets. Home features wide colonial style baseboards and luxurious laminate throughout, exterior features include hurricane impact windows, concrete driveway, bahia sod and an upgraded front yard landscape package. Great starter home for the young family or ideal for a retiring family. * Photos depict a recently completed Cypress Model from Kanopy Homes * .

19. 2022-02-09
    soldstatus $16,000
20. 2022-02-07
    soldstatus $16,000 Closed 954-char remark

    Show marketing remark (954 chars)

    Fantastic opportunity to secure your future homesite in a great neighborhood in the growing City of North Port. You’ll love the rural feel of oak and pine canopies throughout the area. Located just 20 miles to the Gulf of Mexico Beaches, or a quick 4 miles to the local swim park at the North Port Aquatic Center. Desirable south facing rear lot allows for a sunny backyard pool area, and the standard ¼ acre parcel accommodates many fabulous Florida style floorplans, already pre-engineered by local builders in preparation for construction; or you may decide to design your own custom residence. Not in a scrub jay area per Aug 13, 2021 update. Easy access via I-75 for destination cities of Venice & Sarasota, yet plenty of local shopping & dining. Discover why North Port has become a mecca for value-conscious buyers looking for an affordable slice of paradise in southwest Florida – Balboa Terrace is just the ticket!

21. 2022-02-07
    soldstatus $16,000 Closed

    Show marketing remark (954 chars)

    Fantastic opportunity to secure your future homesite in a great neighborhood in the growing City of North Port. You’ll love the rural feel of oak and pine canopies throughout the area. Located just 20 miles to the Gulf of Mexico Beaches, or a quick 4 miles to the local swim park at the North Port Aquatic Center. Desirable south facing rear lot allows for a sunny backyard pool area, and the standard ¼ acre parcel accommodates many fabulous Florida style floorplans, already pre-engineered by local builders in preparation for construction; or you may decide to design your own custom residence. Not in a scrub jay area per Aug 13, 2021 update. Easy access via I-75 for destination cities of Venice & Sarasota, yet plenty of local shopping & dining. Discover why North Port has become a mecca for value-conscious buyers looking for an affordable slice of paradise in southwest Florida – Balboa Terrace is just the ticket!

22. 2022-01-07
    status Pending 954-char remark

    Show marketing remark (954 chars)

    Fantastic opportunity to secure your future homesite in a great neighborhood in the growing City of North Port. You’ll love the rural feel of oak and pine canopies throughout the area. Located just 20 miles to the Gulf of Mexico Beaches, or a quick 4 miles to the local swim park at the North Port Aquatic Center. Desirable south facing rear lot allows for a sunny backyard pool area, and the standard ¼ acre parcel accommodates many fabulous Florida style floorplans, already pre-engineered by local builders in preparation for construction; or you may decide to design your own custom residence. Not in a scrub jay area per Aug 13, 2021 update. Easy access via I-75 for destination cities of Venice & Sarasota, yet plenty of local shopping & dining. Discover why North Port has become a mecca for value-conscious buyers looking for an affordable slice of paradise in southwest Florida – Balboa Terrace is just the ticket!

23. 2022-01-07
    status Pending

    Show marketing remark (954 chars)

    Fantastic opportunity to secure your future homesite in a great neighborhood in the growing City of North Port. You’ll love the rural feel of oak and pine canopies throughout the area. Located just 20 miles to the Gulf of Mexico Beaches, or a quick 4 miles to the local swim park at the North Port Aquatic Center. Desirable south facing rear lot allows for a sunny backyard pool area, and the standard ¼ acre parcel accommodates many fabulous Florida style floorplans, already pre-engineered by local builders in preparation for construction; or you may decide to design your own custom residence. Not in a scrub jay area per Aug 13, 2021 update. Easy access via I-75 for destination cities of Venice & Sarasota, yet plenty of local shopping & dining. Discover why North Port has become a mecca for value-conscious buyers looking for an affordable slice of paradise in southwest Florida – Balboa Terrace is just the ticket!

24. 2021-10-12
    listed $17,500 Active 954-char remark

    Show marketing remark (954 chars)

    Fantastic opportunity to secure your future homesite in a great neighborhood in the growing City of North Port. You’ll love the rural feel of oak and pine canopies throughout the area. Located just 20 miles to the Gulf of Mexico Beaches, or a quick 4 miles to the local swim park at the North Port Aquatic Center. Desirable south facing rear lot allows for a sunny backyard pool area, and the standard ¼ acre parcel accommodates many fabulous Florida style floorplans, already pre-engineered by local builders in preparation for construction; or you may decide to design your own custom residence. Not in a scrub jay area per Aug 13, 2021 update. Easy access via I-75 for destination cities of Venice & Sarasota, yet plenty of local shopping & dining. Discover why North Port has become a mecca for value-conscious buyers looking for an affordable slice of paradise in southwest Florida – Balboa Terrace is just the ticket!

25. 2021-10-12
    listed $17,500 Active

    Show marketing remark (954 chars)

    Fantastic opportunity to secure your future homesite in a great neighborhood in the growing City of North Port. You’ll love the rural feel of oak and pine canopies throughout the area. Located just 20 miles to the Gulf of Mexico Beaches, or a quick 4 miles to the local swim park at the North Port Aquatic Center. Desirable south facing rear lot allows for a sunny backyard pool area, and the standard ¼ acre parcel accommodates many fabulous Florida style floorplans, already pre-engineered by local builders in preparation for construction; or you may decide to design your own custom residence. Not in a scrub jay area per Aug 13, 2021 update. Easy access via I-75 for destination cities of Venice & Sarasota, yet plenty of local shopping & dining. Discover why North Port has become a mecca for value-conscious buyers looking for an affordable slice of paradise in southwest Florida – Balboa Terrace is just the ticket!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,565
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,285
• − Management: −$2,285
• − Depreciation: −$10,470
• Taxable loss: −$13,833
• Est. tax savings @ 24.0%: +$3,320
• After-tax cash flow: $-3,960/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: Sarasota
• NCES district ID: 1201680
• Math proficiency: 63% ▼ -8.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $51,167
• Composite: 53.68/100
• National rank: #1428
• State rank: #7 of 73 in FL

Livability — North Port

• Score: 75/100
• State rank: #252
• US rank: #3975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Port, FL
• County: Sarasota County · 448,376 people
• City population: 75,324
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 8,630
• Household income: $93,425
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 19.0

Population outlook (Sarasota County) Hauer SSP2

• Today (2025): 452,380 people
• By 2030: 474,175 · +4.8%
• By 2040: 511,577 · +13.1%
• By 2050: 541,467 · +19.7%
• By 2075: 604,947 · +33.7%
• By 2100: 621,965 · +37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 7% Black 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6%
• Common ancestry: Subsaharan African 6% French 4% Romanian 3%
• Foreign-born: 16% · Canada
• Languages at home: 72% English-only · Spanish 13% Russian/Polish/Slavic 10% French/Haitian/Cajun 4%

Political lean MEDSL · Sarasota

• 2024 margin: R (+18.2) · D 40.5% · R 58.7%
• 2008→2024 swing: -18.1pp toward R · 2008: -0.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+10.4 2016: R+11.6 2012: R+7.4 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.53%
• Current HPI: 306.4167
• Rent YoY: —
• Metro: North Port-Sarasota-Bradenton, 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

+1956.6% since first listed

9 events — show timeline

• 2026-05-01 Price Changed $359,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-03 Listed $367,900 Stellar MLS as Distributed by MLS Grid
• 2022-02-09 Sold (Public Records) $16,000 Public Records
• 2022-02-07 Sold (MLS) $16,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-07 Sold (MLS) $16,000 FORTMLS
• 2022-01-07 Pending — FORTMLS
• 2022-01-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2021-10-12 Listed $17,500 Stellar MLS as Distributed by MLS Grid
• 2021-10-12 Listed $17,500 FORTMLS

Property tax history

+9.1%/yr

Latest (2025): $710 · +10.0% YoY. Source: county tax records.