8320 Riverside Dr Unit 51B · Cleveland, FL 33982

$99,900

2 bd · 2.0 ba · 805 sqft · Manufactured · 41 Days on market

Manufactured home Built 2007 Good condition 2,417 sqft lot $124/sqft · 26% below area Est $135k · 26% under $210/mo HOA · 14% 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 +27.7/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.8/10.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Appreciation +3.7/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Manufactured-home adj. -6.5

Listing remarks

Welcome to Lazy Lagoon in Punta Gorda! This beautifully maintained manufactured home is being offered turnkey, making it easy to move right in and start enjoying the Florida lifestyle. This home has been lovingly cared for and features numerous updates, including a 2022 roof, 2022 bedroom carpeting, fresh interior paint, new ductwork and HVAC blower motor in 2025, new hot water heater in 2025, updated skirting/lattice, and new blinds in the kitchen and bedrooms. The elevated A/C system adds peace of mind and efficiency. The primary suite features an ensuite bath with a walk-in shower and built-in seating, while the second bathroom offers a tub/shower combination.

Key facts

• New ductwork
• New hot water heater
• Outdoor storage shed

Tags

• 2022 ROOF
• 2022 BEDROOM CARPETING
• NEW DUCTWORK
• NEW HOT WATER HEATER
• OUTDOOR STORAGE SHED
• BOAT AND TRAILER PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-125 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (18.1% below list).
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $82k (18.1% below list) — sets the bar for cash-flow.
• Cap rate 9.9% 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); 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); 1455 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $691 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

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; major 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 $81,848 (18.1% 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 41 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.52% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• GRM: 5.5

CMA / ARV

• ARV (median comp): $135,000
• List price: $99,900
• Delta: -26.00%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 Lazy Lagoon Dr	0.05mi	2/2.0	852 (+6%)	16mo	$24,500	$29	74
3024 Sunny Harbor Dr	1.07mi	2/2.0	840 (+4%)	0mo	$134,000	$160	58
3204 Bayside Pkwy	1.01mi	2/2.0	832 (+3%)	7mo	$134,500	$162	54
3313 Bayside Pkwy	1.03mi	2/2.0	960 (+19%)	8mo	$135,000	$141	34
3410 Bayside Pkwy	1.00mi	2/1.0	672 (-16%)	14mo	$25,000	$37	24

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 · 4.13% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.21×
• Total profit: $-21,970
• Equity at exit: $14,895

10-year hold

• IRR: -10.8%
• Equity multiple: 0.27×
• Total profit: $-20,333
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6 active
• Median asking: $109,450 ($148/sqft)
• Median days on market: 169 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +13.6% above current asking $/sqft

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

ZIP-level market 33982

• Home prices YoY: -1.2%
• Rents YoY: 4.1%
• Active inventory: 1455
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,522 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$210
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $-125

Break-even live

Break-even rent $1,680

Max offer price $81,848

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-90	+0% $-125	+5% $-159	+10% $-194
Rent	-10% $-245	-5% $-185	+0% $-125	+5% $-65	+10% $-5
Rate	-1.0pp $-74	-0.5pp $-99	base $-125	+0.5pp $-151	+1.0pp $-177

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: $24,975
• Closing costs: $2,997
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	109d	1	0.24mi
8025 Roy Dr Punta Gorda, FL	2.0	1.0	806	$1,850	$2.30	3d	1	0.34mi
8025 Roy Dr Punta Gorda, FL	2.0	1.0	806	$1,850	$2.30	5d	1	0.34mi
3000 Coquina Esplanade Punta Gorda, FL	1.0	1.0	576	$1,450	$2.52	116d	1	1.12mi

Property features AI

Finance

• Other: Partially furnishedUnit is on floor 1
• Financial info: Total monthly fees: $210Total annual fees: $2,520Lease restrictions apply
• HOA & community: HOA with monthly fee of $210Association includes water, sewer, trash, maintenance of grounds, management, private road, recreational facilities and escrow reservesAssociation approval requiredCommunity features: clubhouse, park, irrigation with reclaimed water, golf carts allowedSenior communityPets not allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public waterPrivate sewerElectricity connectedCable availableBroadband/high-speed internet available
• Home design: Manufactured home (double wide)One storySouth facingEntry on first floor
• Construction: Vinyl sidingShingle roofCrawlspace foundationBuilt as a double wide manufactured home
• Exterior features: Covered patio/porchFront porchRear porchAwningsHurricane shuttersStorageLandscaped lotPaved surfaces

Interior

• Kitchen: DishwasherRangeMicrowaveIce maker
• Bedrooms: 2 bedrooms
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Ceiling fansHigh ceilingsKitchen and family room combo
• Laundry & utility: WasherDryerLaundry closet

HOA detail $210/mo · $2,520/yr

• Likely covers: water

Listing history 50 events

1. 2026-09-24
   days on market $99,900 Active 41 DOM
2. 2026-09-24
   days on market $99,900 Active 40 DOM
3. 2026-09-22
   days on market $99,900 Active 39 DOM
4. 2026-09-21
   days on market $99,900 Active 38 DOM
5. 2026-09-20
   days on market $99,900 Active 37 DOM
6. 2026-09-19
   days on market $99,900 Active 36 DOM
7. 2026-09-18
   days on market $99,900 Active 35 DOM
8. 2026-09-17
   days on market $99,900 Active 34 DOM
9. 2026-09-16
   days on market $99,900 Active 33 DOM
10. 2026-09-15
    days on market $99,900 Active 32 DOM
11. 2026-09-14
    days on market $99,900 Active 31 DOM
12. 2026-09-13
    days on market $99,900 Active 30 DOM
13. 2026-09-12
    days on market $99,900 Active 29 DOM
14. 2026-09-11
    days on market $99,900 Active 28 DOM
15. 2026-09-05
    days on market $99,900 Active 22 DOM
16. 2026-09-04
    days on market $99,900 Active 21 DOM
17. 2026-09-03
    days on market $99,900 Active 20 DOM
18. 2026-08-31
    days on market $99,900 Active 17 DOM
19. 2026-08-30
    days on market $99,900 Active 16 DOM
20. 2026-08-29
    days on market $99,900 Active 15 DOM
21. 2026-08-28
    days on market $99,900 Active 14 DOM
22. 2026-08-27
    days on market $99,900 Active 13 DOM
23. 2026-08-26
    days on market $99,900 Active 12 DOM
24. 2026-08-25
    days on market $99,900 Active 11 DOM
25. 2026-08-24
    days on market $99,900 Active 10 DOM
26. 2026-08-23
    days on market $99,900 Active 9 DOM
27. 2026-08-22
    days on market $99,900 Active 8 DOM
28. 2026-08-21
    days on market $99,900 Active 7 DOM
29. 2026-08-20
    days on market $99,900 Active 6 DOM
30. 2026-08-19
    days on market $99,900 Active 5 DOM
31. 2026-08-18
    days on market $99,900 Active 4 DOM
32. 2026-08-17
    remarks 699-char remark
33. 2026-08-17
    days on marketlisting id $99,900 Active 3 DOM
34. 2026-08-03
    days on market $99,900 Active 126 DOM
35. 2026-08-01
    days on market $99,900 Active 123 DOM
36. 2026-07-29
    days on market $99,900 Active 121 DOM
37. 2026-07-27
    days on market $99,900 Active 119 DOM
38. 2026-07-25
    days on market $99,900 Active 117 DOM
39. 2026-07-24
    days on market $99,900 Active 116 DOM
40. 2026-07-23
    days on market $99,900 Active 115 DOM
41. 2026-07-22
    days on market $99,900 Active 114 DOM
42. 2026-07-21
    days on market $99,900 Active 113 DOM
43. 2026-07-18
    days on market $99,900 Active 110 DOM
44. 2026-07-16
    days on market $99,900 Active 108 DOM
45. 2026-07-16
    days on market $99,900 Active 107 DOM
46. 2026-07-14
    days on market $99,900 Active 106 DOM
47. 2026-07-13
    days on market $99,900 Active 105 DOM
48. 2026-07-12
    days on market $99,900 Active 104 DOM
49. 2026-07-09
    days on market $99,900 Active 101 DOM
50. 2026-07-08
    days on market $99,900 Active 100 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 6/10 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: $18,261
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$5,618
• − Repairs & maintenance: −$1,461
• − Management: −$1,461
• − HOA: −$2,520
• − Depreciation: −$2,906
• Taxable loss: −$2,799
• Est. tax savings @ 24.0%: +$672
• After-tax cash flow: $-825/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 $4,025–$12,075 screening

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. ↑

ⓘ 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 50/100

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 Port Charlotte High School F FL #434/667 Nat'l #10,882/17,239

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): 13,006
• Household income: $72,443
• Rent vs Own: 11.2% rent · 88.8% own
• Severe rent burden: 42% 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 (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%

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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: ▼ -5.25%
• Current HPI: 448.5895
• Rent YoY: ▲ 4.13%
• Metro: Punta Gorda, FL
• 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: Partially furnishedUnit is on floor 1
• Financial info: Total monthly fees: $210Total annual fees: $2,520Lease restrictions apply
• HOA & community: HOA with monthly fee of $210Association includes water, sewer, trash, maintenance of grounds, management, private road, recreational facilities and escrow reservesAssociation approval requiredCommunity features: clubhouse, park, irrigation with reclaimed water, golf carts allowedSenior communityPets not allowed

Exterior

• Parking: Carport with 1 space
• Utilities: Public waterPrivate sewerElectricity connectedCable availableBroadband/high-speed internet available
• Home design: Manufactured home (double wide)One storySouth facingEntry on first floor
• Construction: Vinyl sidingShingle roofCrawlspace foundationBuilt as a double wide manufactured home
• Exterior features: Covered patio/porchFront porchRear porchAwningsHurricane shuttersStorageLandscaped lotPaved surfaces

Interior

• Kitchen: DishwasherRangeMicrowaveIce maker
• Bedrooms: 2 bedrooms
• Flooring: CarpetLaminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Ceiling fansHigh ceilingsKitchen and family room combo
• Laundry & utility: WasherDryerLaundry closet

Price history

4 events — show timeline

• 2026-08-14 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2026-08-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-06-26 Price Changed — Stellar MLS as Distributed by MLS Grid
• 2026-03-30 Listed — Stellar MLS as Distributed by MLS Grid