3103 Riverside Dr · Cleveland, FL 33950

$310,000

4 bd · 4.0 ba · 1,948 sqft · MultiFamily · 198 Days on market

Built 1984 Good condition 9,609 sqft lot Garage $159/sqft · 13% below area Est $355k · 13% under · waterfront ↓ 15% since listing

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Why this score? — see what drove the C 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 +20.0/30.0
• ARV discount +13.2/15.0
• DSCR +6.3/10.0
• Schools +5.5/10.0
• 1% rule +5.3/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

FIRE SALE - FINAL PRICE DROP!!! WATERFRONT DUPLEX for sale - Super RARE! Step into instant cash flow. .. both units rented out! This 1,948 sq ft building has 2 units, each with 2 bedrooms, 2 bathrooms, a large open concept kitchen/dining/living room, a large screened/covered porch, and a single car garage all overlooking a GULF ACCESS CANAL with concrete seawall just minutes to Downtown Punta Gorda. Both units have independent septic systems, NEW ROOF!!! Newer A/C units, and updated counters and appliances! The rental potential is fantastic for these units. Or you could even live in one and rent the other. Lots of opportunity!

Key facts

• Rental potential
• Concrete seawall
• Waterfront duplex

Tags

• WATERFRONT DUPLEX
• GULF ACCESS CANAL
• CONCRETE SEAWALL
• NEW ROOF
• INDEPENDENT SEPTIC SYSTEMS
• RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $310k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-49 ($-585/yr) — negative. Per door: $-24/mo.
• To cash-flow at today's rent, offer at most $303k (2.3% below list).
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.4% in Cleveland — 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 67/100 on livability (#574 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, 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.
• Zoned schools: East Elementary School (math 67% / reading 68%, grade B+, #435 of 2,144 statewide, top 21%, 761 students, 52% FRL); Punta Gorda Middle School (math 54% / reading 52%, grade C+, #209 of 571 statewide, top 37%, 1,120 students, 41% FRL); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Market conditions: 1234 active listings in the ZIP; solid renter incomes; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).

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

• It's been on market 198 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,800 (12.0% 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 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.03% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.22%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $354,891
• List price: $310,000
• Delta: -12.65%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3722 Rosemary Dr	0.36mi	4/2.0	1,676 (-14%)	9mo	$255,000	$152	44
26591 Fairway Dr Unit A & B	0.69mi	4/4.0	1,800 (-8%)	13mo	$252,000	$140	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-53,030
• Equity at exit: $46,222

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-48,918
• Equity at exit: $26,803

Cash invested: $86,800 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $519,900 ($259/sqft)
• Median days on market: 211 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -29.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33950

• Home prices YoY: -29.9%
• Active inventory: 1234
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,190 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $-49

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,190
Total (2 units)			$3,190

Break-even live

Break-even rent $3,252

Max offer price $302,941

Occupancy floor 97%

Sensitivity live

Price	-10% $165	-5% $58	+0% $-49	+5% $-156	+10% $-263
Rent	-10% $-301	-5% $-175	+0% $-49	+5% $77	+10% $203
Rate	-1.0pp $107	-0.5pp $30	base $-49	+0.5pp $-129	+1.0pp $-211

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: $77,500
• Closing costs: $9,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3111 Riverside Dr Unit A Punta Gorda, FL	2.0	2.0	1112	$1,595	$1.43	109d	1	0.04mi
3615 Dawson Ln Punta Gorda, FL	2.0	2.0	1014	$1,450	$1.43	116d	1	0.38mi
3615 Dawson Ln Punta Gorda, FL	2.0	2.0	1014	$1,650	$1.63	6d	1	0.38mi
520 Drury Ln Unit 520 Punta Gorda, FL	2.0	1.0	860	$1,350	$1.57	116d	1	0.70mi
25188 Marion Ave Punta Gorda, FL	1.0–2.0	1.0	1038	$1,800	$1.73	116d	3	1.10mi
25188 Marion Ave Punta Gorda, FL	2.0	1.0–2.0	1128	$2,275	$2.02	6d	3	1.10mi

Property features AI

Finance

• Other: Total lot size about 0.22 acres (0 to less than 1/4 acre)
• Financial info: Annual net income reported: $32,000Pro forma rent listed as $1,600 per unit
• HOA & community: No association

Exterior

• Parking: Each unit includes an attached garage (1 garage space per unit)Has attached garage
• Utilities: Public waterSeptic tank sewerElectricity available and connectedWater available and connectedCable available
• Home design: Duplex (residential income property)One buildingRMF10 zoning
• Construction: Block constructionShingle roofSlab foundationBuilding area approximately 2,644 sq ft
• Exterior features: PorchPrivate mailboxPaved road access

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 4 bedrooms totalTwo separate 2-bedroom units (each 2 bedrooms)
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Central heatingCentral air
• Laundry & utility: Laundry located inside and in the garage

Listing history 50 events

1. 2026-09-05
   days on market $310,000 Active 198 DOM
2. 2026-09-04
   days on market $310,000 Active 197 DOM
3. 2026-09-03
   days on market $310,000 Active 196 DOM
4. 2026-08-31
   days on market $310,000 Active 193 DOM
5. 2026-08-30
   days on market $310,000 Active 192 DOM
6. 2026-08-29
   days on market $310,000 Active 191 DOM
7. 2026-08-28
   days on market $310,000 Active 190 DOM
8. 2026-08-27
   days on market $310,000 Active 189 DOM
9. 2026-08-26
   days on market $310,000 Active 188 DOM
10. 2026-08-25
    days on market $310,000 Active 187 DOM
11. 2026-08-23
    days on market $310,000 Active 185 DOM
12. 2026-08-22
    days on market $310,000 Active 184 DOM
13. 2026-08-21
    pricedays on market $310,000 Active 183 DOM
14. 2026-08-20
    days on market $340,000 Active 182 DOM
15. 2026-08-19
    days on market $340,000 Active 181 DOM
16. 2026-08-18
    days on market $340,000 Active 180 DOM
17. 2026-08-17
    days on market $340,000 Active 179 DOM
18. 2026-08-16
    days on market $340,000 Active 178 DOM
19. 2026-08-15
    days on market $340,000 Active 177 DOM
20. 2026-08-14
    days on market $340,000 Active 176 DOM
21. 2026-08-13
    days on market $340,000 Active 175 DOM
22. 2026-08-12
    days on market $340,000 Active 174 DOM
23. 2026-08-11
    days on market $340,000 Active 173 DOM
24. 2026-08-10
    days on market $340,000 Active 172 DOM
25. 2026-08-09
    days on market $340,000 Active 171 DOM
26. 2026-08-08
    days on market $340,000 Active 170 DOM
27. 2026-08-07
    days on market $340,000 Active 169 DOM
28. 2026-08-06
    days on market $340,000 Active 168 DOM
29. 2026-08-05
    days on market $340,000 Active 167 DOM
30. 2026-08-04
    days on market $340,000 Active 166 DOM
31. 2026-08-03
    days on market $340,000 Active 165 DOM
32. 2026-08-01
    days on market $340,000 Active 162 DOM
33. 2026-07-29
    days on market $340,000 Active 160 DOM
34. 2026-07-27
    days on market $340,000 Active 158 DOM
35. 2026-07-25
    days on market $340,000 Active 156 DOM
36. 2026-07-24
    days on market $340,000 Active 155 DOM
37. 2026-07-23
    days on market $340,000 Active 154 DOM
38. 2026-07-22
    days on market $340,000 Active 153 DOM
39. 2026-07-21
    days on market $340,000 Active 152 DOM
40. 2026-07-18
    days on market $340,000 Active 149 DOM
41. 2026-07-16
    days on market $340,000 Active 147 DOM
42. 2026-07-16
    days on market $340,000 Active 146 DOM
43. 2026-07-14
    days on market $340,000 Active 145 DOM
44. 2026-07-13
    days on market $340,000 Active 144 DOM
45. 2026-07-12
    days on market $340,000 Active 143 DOM
46. 2026-07-09
    days on market $340,000 Active 140 DOM
47. 2026-07-08
    days on market $340,000 Active 139 DOM
48. 2026-07-07
    days on market $340,000 Active 138 DOM
49. 2026-07-06
    days on market $340,000 Active 137 DOM
50. 2026-07-06
    days on market $340,000 Active 136 DOM

ⓘ 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,280
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$6,668
• − Repairs & maintenance: −$3,062
• − Management: −$3,062
• − Depreciation: −$9,018
• Taxable loss: −$5,546
• Est. tax savings @ 24.0%: +$1,331
• After-tax cash flow: $746/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $9,740–$29,220 screening

This waterfront duplex is in good condition with a new roof and newer A/C units. It offers excellent rental potential and could be enhanced with exterior painting and landscaping.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and resale value. ↑
• Both Landscaping the yard — Improves curb appeal and rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary East Elementary School B+ FL #435/2,144 Nat'l #4,272/41,679 Middle Punta Gorda Middle School C+ FL #209/571 Nat'l #2,873/14,009 High Charlotte High School D- FL #228/667 Nat'l #6,809/17,239

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

C Composite livability gradescore 67/100

Livability — Cleveland

• Score: 67/100
• State rank: #574
• US rank: #10905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, FL
• County: Charlotte County · 198,646 people
• Metro: Punta Gorda, FL
• Population (ZIP): 24,955
• Household income: $76,369
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 5% Romanian 4% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

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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: ▼ -111.73%
• Current HPI: 261.6573
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Total lot size about 0.22 acres (0 to less than 1/4 acre)
• Financial info: Annual net income reported: $32,000Pro forma rent listed as $1,600 per unit
• HOA & community: No association

Exterior

• Parking: Each unit includes an attached garage (1 garage space per unit)Has attached garage
• Utilities: Public waterSeptic tank sewerElectricity available and connectedWater available and connectedCable available
• Home design: Duplex (residential income property)One buildingRMF10 zoning
• Construction: Block constructionShingle roofSlab foundationBuilding area approximately 2,644 sq ft
• Exterior features: PorchPrivate mailboxPaved road access

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 4 bedrooms totalTwo separate 2-bedroom units (each 2 bedrooms)
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Central heatingCentral air
• Laundry & utility: Laundry located inside and in the garage

Price history

-14.6% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $350,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $375,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Listed $410,000 Stellar MLS as Distributed by MLS Grid