8320 Riverside Dr Unit 51B · Cleveland, FL 33982

$112,000

2 bd · 2.0 ba · 805 sqft · Manufactured · 80 Days on market

Built 2007 Good condition 2,417 sqft lot $210/mo HOA · 10% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Appreciation +2.4/10.0

Listing remarks

Absolutely adorable and move-in ready, this 2-bedroom, 2-bath home in the desirable Lazy Lagoon community offers comfort, convenience, and peace of mind! Built in 2007 and thoughtfully updated, this 805 sq. ft. home features a newer roof (2022), AC system (2020) with a brand-new motor (April 2026) that comes with a 5 year warranty, and a hot water heater replaced in 2025—giving buyers confidence in all the big-ticket items. Furniture negotiable! Step inside to find fresh paint throughout and beautiful luxury laminate flooring in the main living areas. Both bedrooms offer newer carpet, spacious closets, and plenty of natural light. The primary suite includes a private en suite bath wit

Key facts

• Built-in seating
• Newer roof
• Ac system

Tags

• NEWER ROOF
• AC SYSTEM
• HOT WATER HEATER
• PRIVATE EN SUITE BATH
• WALK-IN SHOWER
• BUILT-IN SEATING

Property features AI

Finance

• Other: Lease restrictions: none indicated; Furnished: negotiable
• Financial info: Total monthly fees $210; total annual fees $2,520
• HOA & community: Gateway Management HOA; Monthly association fee $210 (includes water, sewer, trash, private road maintenance, grounds maintenance, management, recreational facilities, escrow reserves fund); Association amenities include park and recreational facilities; Buyer approval required; Deed restrictions; Golf carts allowed; Senior community; Pets not allowed

Exterior

• Parking: Driveway; Carport with 1 space
• Utilities: Public water; Private sewer; Electricity available; Public utilities available
• Home design: Manufactured double-wide home; One level; Faces south; Completed condition; Located in a manufactured home park (MHP)
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation; Built as a manufactured home
• Exterior features: Covered patio/porch; Awnings; Storage shed; Boat ramp (private) providing creek access to Peace River; Shell Creek connects to the Peace River

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Vaulted ceilings
• Laundry & utility: Washer hookup; Dryer hookup; Laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $112k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 4.8% 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); Port Charlotte High School (math 23% / reading 38%, grade F, #434 of 667 statewide, top 66%, 1,649 students, 43% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 1037 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 34% of the median local income ($72k/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 $774 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($105k) 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; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,280 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.84% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.67%
• DSCR: 2.10
• GRM: 4.5

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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,456
• Equity at exit: $16,700

10-year hold

• IRR: 10.6%
• Equity multiple: 1.90×
• Total profit: $28,300
• Equity at exit: $9,684

Cash invested: $31,360 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,062 medium
• Mortgage (P&I): −$587
• Tax est. 1.5%: −$140 /mo · $1,680/yr
• Insurance: −$47
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$210
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $218

Break-even live

Break-even rent $1,786

Max offer price $112,000

Occupancy floor 84%

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2921 Wilson Ave Punta Gorda, FL	2.0	1.0	832	$1,800	$2.16	13d	1	0.24mi
3000 Coquina Esplanade Punta Gorda, FL	1.0	1.0	576	$1,450	$2.52	21d	1	1.12mi

HOA detail

• Monthly dues: $210 · $2,520/yr
• Likely covers: water

Listing history 17 events

1. 2026-06-18
   days on market $112,000 Active 80 DOM
2. 2026-06-17
   days on market $112,000 Active 79 DOM
3. 2026-06-16
   days on market $112,000 Active 78 DOM
4. 2026-06-15
   days on market $112,000 Active 77 DOM
5. 2026-06-14
   days on market $112,000 Active 75 DOM
6. 2026-06-13
   days on market $112,000 Active 74 DOM
7. 2026-06-10
   days on market $112,000 Active 72 DOM
8. 2026-06-09
   days on market $112,000 Active 71 DOM
9. 2026-06-08
   days on market $112,000 Active 70 DOM
10. 2026-06-07
    days on market $112,000 Active 69 DOM
11. 2026-06-05
    days on market $112,000 Active 66 DOM
12. 2026-06-03
    days on market $112,000 Active 65 DOM
13. 2026-06-02
    days on market $112,000 Active 64 DOM
14. 2026-06-01
    days on market $112,000 Active 63 DOM
15. 2026-05-31
    days on market $112,000 Active 62 DOM
16. 2026-05-30
    days on market $112,000 Active 61 DOM
17. 2026-03-30
    listed $112,000 Active

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,741
• − Mortgage interest: −$6,274
• − Property taxes: −$1,680
• − Insurance: −$5,678
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − HOA: −$2,520
• − Depreciation: −$3,258
• Taxable income: $1,372
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $2,290/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

This move-in ready 2-bedroom, 2-bath home in Lazy Lagoon offers updated interiors and a well-maintained exterior, making it an attractive option for both resale and rental.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value.
• Resale Replace carpet in bedrooms — Fresh carpet improves comfort and appearance.
• Rental Clean and maintain HVAC system — Ensures efficient operation and reduces maintenance costs.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value. ↑
• Resale Replace carpet in bedrooms — Fresh carpet improves comfort and appearance. ↑
• Rental Clean and maintain HVAC system — Ensures efficient operation and reduces maintenance costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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 · 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

1 event — show timeline

• 2026-03-30 Listed $112,000 Stellar MLS as Distributed by MLS Grid