Punta Gorda Florida Duplex?

Question

I'm about to close on my first investment property, and I wanted to get other people's opinions. It is a turnkey duplex in Punta Gorda, Florida (about 30 minutes from Fort Myers). The closing price would be 316,000 and the total rent will be 3800. Each side is a 2 bed one bathroom, recent renovations. One tenant is already in place. Does anyone have any insights on the area and any thoughts on this? As this is my first property I'd love to get some thoughts from those of you who are more experienced. Thank you!

Ian Thomas · Answer

Scott, I think I have a few ideas for you on this. Have some different things to consider on the build-to-rent side of things. Would love to chat a bit about some opportunities regarding some some turnkey opportunities.

Jim Miller · Answer

I am a Property Manager in Punta Gorda. Without a little more detail, it's hard to answer your question, "Punta Gorda" covers a large area and, depending on where will make a difference. Downtown proper that's an awesome price, and Deep Creek that's a good price. North on 17, it could be okay. Punta Gorda Heights, you may want to take another look. I'd be happy to answer any detailed questions you may have. Good luck overall it's a great place.

Adam Bartomeo · Answer

Punta Gorda is a great little city and is consistently Florida's saftest city. There aren't many jobs there and most people will commute to another city to work. $1900 for a 2/1 sounds really high for that area. Are you self-managing or is a PM guiding you?

David Greathouse · Answer

I have friends that have rented there for years....seems to be a great place to live and a lot of snowbirds constantly moving there.  I'm sure there are good parts and bad just like anywhere but I think you're safe as long as you find good tenants.  Easy to fly into there now with the new airport