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$475,000

For Sale - Active
2630 Tarpon Cove Dr Apt 211, Punta Gorda, FL 33950
2 Beds
2 Baths
2,330 Square Feet
0.07 Acres Lot
Built in 2002
For Sale - Active
1 Units
Checked: 16 hours ago
Updated: Jun 23, 2025 at 03:21AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$1,050
Cap Rate
3.5%
Cash-on-Cash Return
-11.5%
Debt Coverage Ratio
0.57
Internal Rate of Return (5 years)
-7.2%

Property Description


0.07 Acres Lot
Built in 2002
For Sale - Active
1 Units

Enjoy the Florida lifestyle in this spacious 2-bedroom + den, 2-bath residence in Tarpon Cove, Punta Gorda Isles, offered at $475,000. With 2,330 square feet under air and a 30-foot concrete dock (Slip #2) just steps from your door, this well-maintained condo offers wide basin views and sailboat access to Charlotte Harbor and the Gulf—perfect for boating and fishing enthusiasts. The interior features an expansive great room with beautiful water views, a large primary suite with dual vanities, a tiled walk-in shower, and a custom walk-in closet. The kitchen is bright and open, with solid surface countertops, crown molding on all cabinets, and a charming breakfast nook overlooking green space. A den/flex room provides space for a home office or additional guests. The grand foyer entrance showcases a tray ceiling and a niche for artwork or décor, setting the tone for the elegant design throughout. The 12' x 19' enclosed lanai features vinyl windows and a built-in summer kitchen, ideal for relaxing or entertaining. There’s also a full laundry room with utility sink, cabinetry, and storage, plus impact windows, 10-foot ceilings, arched doorways, and a separate front storage room. Crown molding adds a refined touch in the great room, primary bedroom, and office. The 2-car attached garage is a rare bonus for condo living. A brick paver driveway and walkway lead to the entrance, and a new tile roof was installed in 2023. Additional exterior features include rain gutters and lush, manicured landscaping. The community offers a heated pool and spa, fitness center, and clubhouse—all conveniently located just across the street. This home is just minutes from downtown Punta Gorda, Fishermen’s Village, Ponce de Leon Park, fine dining, and boutique shopping. Priced as the best value per square foot for this floor plan in Tarpon Cove, it’s an outstanding opportunity to experience waterfront living in one of Southwest Florida’s most desirable communities.

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Location


Property Details


Parking

  • Description: Driveway, Garage Door Opener
  • Details: Driveway, Garage Door Opener, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1

Exterior Features

  • Foundation: Slab
  • Roof Material: Tile

HOA

  • Association: Gateway Management

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 412211776006
  • Lot Size: 3005 sqft

Property Information

  • Property Type: Condominium
  • Style: Florida
  • Year Built: 2002

Tax Information

  • Annual Tax: $9,074

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Charlotte

Listing Details


Listed by:
Karen Brown
MICHAEL SAUNDERS & COMPANY
(941) 380-2820

Source:
Stellar MLS
MLS#: C7511303
Stellar MLS

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$1,050
Cap Rate
3.5%
Cash-on-Cash Return
-11.5%
Debt Coverage Ratio
0.57
Internal Rate of Return (5 years)
-7.2%

Purchase Details

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Purchase price:
$475,000
Amount financed:
-$380,000
Down payment:
$95,000
Closing costs:
$14,250
Rehab costs:
$0
Initial cash invested:
$109,250
Square feet:
2,330
Cost per square foot:
$204
Monthly rent per square foot:
$1.33

Financing Details

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Loan amount:
$380,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,433
Property tax:
$756
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,406

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (24%)
24%-$756-$9,074
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (49%)
49%-$1,531-$18,374

Cash Flow


Monthly Yearly
Net operating income:
$1,383 $16,596
Mortgage payments:
-$2,433 -$29,196
Cash flow:
$1,050 $12,600