3111 Waterside Dr · Grove City, FL 34224

$225,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 186 Days on market

Built 1979 7,500 sqft lot

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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 +27.5/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your fully furnished, turnkey 2-bedroom, 2-bath coastal retreat in Englewood! This charming home sits on a 7,500 sq ft lot and is ready for immediate enjoyment — perfect for seasonal living, full-time residency, or an investment opportunity. The home features new mini-split systems for efficient heating and cooling, hurricane shutters, and a full-size laundry machine located in the shed for added convenience. The spacious primary bedroom features a private ensuite bathroom and dual walk-in closets, offering exceptional comfort and storage. Both bedrooms include queen beds, and the living area is equipped with a smart TV for easy entertainment. Step outside to your attached

Key facts

• Hurricane shutters
• Rear carport
• Outdoor shower

Tags

• NEW MINI-SPLIT SYSTEMS
• HURRICANE SHUTTERS
• FULL-SIZE LAUNDRY MACHINE
• ATTACHED LANAI
• REAR CARPORT
• OUTDOOR SHOWER

Property features AI

Finance

• Other: Furnished; Located in MHC zoning (manufactured home community); Living area approximately 1,152 sq ft

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Manufactured double-wide home; One story; Faces west
• Construction: Metal siding; Metal roof; Other foundation; Built on a 0.17-acre lot; Asphalt road access
• Exterior features: Hurricane shutters; Outdoor shower; Sliding doors; Outdoor storage

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Ductless heating; Mini-split cooling
• Interior features: Ceiling fans; Walk-in closet(s); Window treatments
• Laundry & utility: Laundry area outside / other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.8% in Grove City — 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 63/100 on livability (#713 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities 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.
• Market conditions: Rents soft (-0.1%/yr); 734 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $2,625/mo this rent would consume 55% of the median local household income ($57k/yr) (locally 329% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 186 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $225k implies a 231% gain — meaningful room to come down on a strong offer.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.17% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.73%
• DSCR: 1.57
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $125,568
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3225 Towhee St	0.22mi	2/2.0	1,181 (+2%)	2mo	$129,000	$109	84

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.55×
• Total profit: $-28,547
• Equity at exit: $33,548

10-year hold

• IRR: -10.5%
• Equity multiple: 0.46×
• Total profit: $-33,908
• Equity at exit: $19,454

Cash invested: $63,000 (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 34224

• Home prices YoY: -18.9%
• Rents YoY: -0.1%
• Active inventory: 734
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,625 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$131 /mo · $1,577/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $242

Break-even live

Break-even rent $2,319

Max offer price $225,000

Occupancy floor 86%

Sensitivity live

Price	-10% $369	-5% $305	+0% $242	+5% $178	+10% $114
Rent	-10% $34	-5% $138	+0% $242	+5% $345	+10% $449
Rate	-1.0pp $355	-0.5pp $299	base $242	+0.5pp $183	+1.0pp $124

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1950 Nebraska Ave Englewood, FL	2.0	2.0	1325	$3,536	$2.67	22d	1	0.20mi
3280 Holly Ave Englewood, FL	3.0	2.0	900	$3,300	$3.67	22d	1	0.21mi
8787 Saint Kitts Cir Englewood, FL	3.0	2.0	1422	$2,300	$1.62	14d	1	0.43mi
8613 Seasalt Loop Englewood, FL	3.0	2.0	1422	$3,650	$2.57	22d	1	0.44mi
8722 Saint Kitts Cir Englewood, FL	3.0	2.0	1417	$2,100	$1.48	22d	1	0.45mi
8716 Saint Kitts Cir Englewood, FL	3.0	2.0	1417	$2,500	$1.76	22d	1	0.45mi
1915 Pennsylvania Ave Englewood, FL	2.0	2.0	1394	$7,500	$5.38	22d	1	0.55mi
4341 Placida Rd #6 Englewood, FL	2.0	2.0	1071	$1,450	$1.35	22d	1	0.76mi
4341 Placida Rd #5 Englewood, FL	2.0	2.0	1071	$1,350	$1.26	22d	1	0.76mi
1970 Georgia Ave Englewood, FL	3.0	2.0	1160	$11,790	$10.16	22d	1	0.77mi
1960 Oregon Trl Unit 2A Englewood, FL	2.0	2.0	1360	$3,750	$2.76	22d	1	1.01mi

Listing history 18 events

1. 2026-06-18
   days on market $225,000 Active 186 DOM
2. 2026-06-17
   days on market $225,000 Active 185 DOM
3. 2026-06-16
   days on market $225,000 Active 184 DOM
4. 2026-06-15
   days on market $225,000 Active 183 DOM
5. 2026-06-14
   days on market $225,000 Active 181 DOM
6. 2026-06-13
   days on market $225,000 Active 180 DOM
7. 2026-06-10
   days on market $225,000 Active 178 DOM
8. 2026-06-09
   days on market $225,000 Active 177 DOM
9. 2026-06-08
   days on market $225,000 Active 176 DOM
10. 2026-06-05
    days on market $225,000 Active 172 DOM
11. 2026-06-03
    days on market $225,000 Active 171 DOM
12. 2026-06-02
    days on market $225,000 Active 170 DOM
13. 2026-06-01
    days on market $225,000 Active 169 DOM
14. 2026-05-31
    days on market $225,000 Active 168 DOM
15. 2026-05-30
    days on market $225,000 Active 167 DOM
16. 2025-12-09
    listed $225,000 Active
17. 2003-05-27
    soldstatus $68,000
18. 1996-04-30
    soldstatus $42,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,577 · $131/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$290/yr (+$24/mo · 18.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,494
• − Mortgage interest: −$12,603
• − Property taxes: −$1,577
• − Insurance: −$6,244
• − Repairs & maintenance: −$2,520
• − Management: −$2,520
• − Depreciation: −$6,545
• Taxable loss: −$515
• Est. tax savings @ 24.0%: +$124
• After-tax cash flow: $3,024/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.

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 — Grove City

• Score: 63/100
• State rank: #713
• US rank: #15171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grove City, FL
• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 15,536
• Household income: $57,281
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 329.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 4%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% German/W. Germanic 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: ▼ -75.76%
• Current HPI: 325.0345
• Rent YoY: ▼ -0.11%
• 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

+429.4% since first listed

3 events — show timeline

• 2025-12-09 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2003-05-27 Sold (Public Records) $68,000 Public Records
• 1996-04-30 Sold (Public Records) $42,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,577 · +3.1% YoY. Source: county tax records.