Is 8320 Riverside Dr #101 in Cleveland, FL a good investment?

CashFlowRE grades it C with a 7.5% cap rate and $-299/mo modeled cash flow at a $125,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 8320 Riverside Dr #101?

The modeled cap rate is 7.5% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,521/month, from CashFlowRE's rent model.

C Composite 57.73

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 +18.9/30.0
ARV discount +10.7/15.0
1% rule +7.2/10.0
DSCR +5.9/10.0
Schools +5.5/10.0
Condition / age +4.0/5.0
Appreciation +3.7/10.0
Rent growth +3.5/5.0
Livability +3.4/5.0
Manufactured-home adj. -5.0

$125,000

8320 Riverside Dr #101 · Cleveland, FL 33982

2 bd · 2.0 ba · 768 sqft · Manufactured · 118 Days on market

Manufactured home Built 2006 Good condition 3,055 sqft lot $163/sqft · 7% below area Est $134k · 7% under $210/mo HOA · 14% of rent ↓ 5% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to the waterfront community of Lazy Lagoon in Punta Gorda! This charming custom site-built home offers 2 bedrooms, 2 bathrooms +versatile den. Enjoy the relaxed coastal lifestyle with community amenities just steps away—fish from the community-owned dock on Shell Creek or unwind beneath the shade of majestic live oaks in the beautifully maintained waterfront park adjacent to your deck. The open-concept living and kitchen area features a spacious layout filled with natural light and coastal charm. The kitchen showcases a functional U-shaped design with abundant counter space and eye-catching turquoise cabinetry.

Key facts

Community-owned dock
Waterfront community
Turquoise cabinetry

What this means for you Summary

Snapshot

This is a 2-bed/2.0-bath manufactured listed at $125k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
To cash-flow at today's rent, offer at most $82k (34.6% below list).
Meets the 1% rule at list price ($2k rent vs $125k).
Recommended offer: $82k (34.6% below list) — sets the bar for cash-flow.
Cap rate 7.5% 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: 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 $864 of loan paydown is wiped out by about $4k 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 118 days — a 9% lower offer ($114k) 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; 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 $81,718 (34.6% below list)

Questions for the listing agent

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?
It's been on market 118 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
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: 1.22% ✓
Cap rate: 7.52%
Cash-on-cash: 4.37%
DSCR: 1.19
GRM: 6.9

CMA / ARV

ARV (median comp): $134,500
List price: $125,000
Delta: -7.06%
Verdict: FAIR
Comps: 5 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 Lazy Lagoon Dr	0.05mi	2/2.0	852 (+11%)	16mo	$24,500	$29	66
3024 Sunny Harbor Dr	1.07mi	2/2.0	840 (+9%)	0mo	$134,000	$160	49
3110 Coquina Esplanade	1.12mi	2/1.5	768 (0%)	18mo	$60,000	$78	48
3204 Bayside Pkwy	1.01mi	2/2.0	832 (+8%)	7mo	$134,500	$162	46
3206 Coquina Esplanade	1.11mi	2/1.5	736 (-4%)	20mo	$60,000	$82	40
30184 Balsam Blvd	1.04mi	2/2.0	832 (+8%)	20mo	$215,000	$258	35
5302 Swaying Palm Dr	1.43mi	1/1.0 (-1)	672 (-12%)	1mo	$150,000	$223	34
3313 Bayside Pkwy	1.03mi	2/2.0	960 (+25%)	8mo	$135,000	$141	34
3410 Bayside Pkwy	1.00mi	2/1.0	672 (-12%)	14mo	$25,000	$37	28
30087 Alder Rd	1.17mi	2/1.0	672 (-12%)	15mo	$189,000	$281	28
5147 Palangos Dr	1.30mi	2/1.0	912 (+19%)	10mo	$265,000	$291	28
3058 Maplewood Rd	1.01mi	2/1.5	912 (+19%)	19mo	$150,000	$164	22

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: -31.7%
Equity multiple: -0.06×
Total profit: $-37,144
Equity at exit: $18,638

10-year hold

IRR: -25.2%
Equity multiple: -0.37×
Total profit: $-47,852
Equity at exit: $10,808

Cash invested: $35,000 (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 →

Active competition Active MLS

For sale now: 6 active
Median asking: $99,900 ($128/sqft)
Median days on market: 169 d
This list price: 83% of active listings are priced below it
ARV vs active asking: +36.5% 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: 6.9×

Monthly cashflow live

Estimated rent: $1,521 medium interval (Pro) →
Mortgage (P&I): −$656
Tax est. 1.5%: −$156 /mo · $1,875/yr
Insurance: −$52
Flood insurance flood zone: −$427 /mo · $5,118/yr
HOA: −$210
Lot rent leased land?: −$0
Vacancy / Maint / Mgmt: −$319
Net cashflow: $-299

Break-even live

Break-even rent $1,899

Max offer price $81,718

Occupancy floor —

Sensitivity live

Price	-10% $-213	-5% $-256	+0% $-299	+5% $-342	+10% $-385
Rent	-10% $-419	-5% $-359	+0% $-299	+5% $-239	+10% $-179
Rate	-1.0pp $-236	-0.5pp $-267	base $-299	+0.5pp $-332	+1.0pp $-364

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: $31,250
Closing costs: $3,750
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

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: Directions: US-41 South, Left on Olympia Ave, Left on Riverside Dr, follow signs in the park to lot 101 on 6th St in the back.
Financial info: Total monthly fees $210; total annual fees $2,520Lease restrictions apply
HOA & community: Monthly association fee $210 (includes management, maintenance of grounds, private road, sewer, water, trash, recreational facilities, escrow reserves fund)Association approval requiredAssociation managed by Gateway ManagementCommunity features: clubhouse, community mailbox, deed restrictions, golf carts allowed, special community restrictionsSenior communityNo pets allowed

Exterior

Parking: Covered parkingDriveway parkingGround-level parking1-car carport
Utilities: Public waterPublic sewerElectricity available and connectedWater available and connectedSewer available and connectedCable available
Home design: Manufactured single-wide homeOne-level entryFaces south
Construction: Vinyl sidingMetal roofRoof overCrawlspace foundationBuilt as a manufactured home
Exterior features: Covered deck/porch and rear porchPorchDeckCovered patio/porch areasHurricane shuttersExterior lightingRain guttersShade shuttersSliding doorsLandscaped lot with mature landscaping and treesPrivate lotPaved road with private maintenance

Interior

Kitchen: RangeRange hoodRefrigerator
Bedrooms: 2 bedrooms
Flooring: Laminate
Bathrooms: 2 full bathrooms
Heating & cooling: Central heatingCentral airMini-split unit(s)
Interior features: Ceiling fansCrown moldingHigh ceilingsOpen floorplan with living/dining room combo
Laundry & utility: Washer hookupDryer hookup (electric)Inside laundryTankless water heater

HOA detail $210/mo · $2,520/yr

Likely covers: water

Listing history 50 events

2026-09-24

days on market $125,000 Active 118 DOM
2026-09-24

days on market $125,000 Active 117 DOM
2026-09-22

days on market $125,000 Active 116 DOM
2026-09-21

days on market $125,000 Active 115 DOM
2026-09-20

days on market $125,000 Active 114 DOM
2026-09-19

days on market $125,000 Active 113 DOM
2026-09-17

days on market $125,000 Active 111 DOM
2026-09-16

days on market $125,000 Active 110 DOM
2026-09-15

days on market $125,000 Active 109 DOM
2026-09-14

days on market $125,000 Active 108 DOM
2026-09-13

days on market $125,000 Active 107 DOM
2026-09-12

days on market $125,000 Active 106 DOM
2026-09-11

days on market $125,000 Active 105 DOM
2026-09-05

days on market $125,000 Active 99 DOM
2026-09-04

days on market $125,000 Active 98 DOM
2026-09-03

days on market $125,000 Active 97 DOM
2026-08-31

days on market $125,000 Active 94 DOM
2026-08-30

days on market $125,000 Active 93 DOM
2026-08-29

days on market $125,000 Active 92 DOM
2026-08-28

days on market $125,000 Active 91 DOM
2026-08-27

days on market $125,000 Active 90 DOM
2026-08-26

days on market $125,000 Active 89 DOM
2026-08-25

days on market $125,000 Active 88 DOM
2026-08-24

days on market $125,000 Active 87 DOM
2026-08-23

days on market $125,000 Active 86 DOM
2026-08-22

days on market $125,000 Active 85 DOM
2026-08-21

days on market $125,000 Active 84 DOM
2026-08-20

days on market $125,000 Active 83 DOM
2026-08-19

days on market $125,000 Active 82 DOM
2026-08-18

days on market $125,000 Active 81 DOM
2026-08-17

days on market $125,000 Active 80 DOM
2026-08-16

days on market $125,000 Active 79 DOM
2026-08-15

days on market $125,000 Active 78 DOM
2026-08-14

days on market $125,000 Active 77 DOM
2026-08-13

days on market $125,000 Active 76 DOM
2026-08-12

days on market $125,000 Active 75 DOM
2026-08-11

days on market $125,000 Active 74 DOM
2026-08-10

days on market $125,000 Active 73 DOM
2026-08-09

days on market $125,000 Active 72 DOM
2026-08-08

days on market $125,000 Active 71 DOM
2026-08-07

days on market $125,000 Active 70 DOM
2026-08-06

days on market $125,000 Active 69 DOM
2026-08-05

days on market $125,000 Active 68 DOM
2026-08-04

days on market $125,000 Active 67 DOM
2026-08-03

pricedays on market $125,000 Active 66 DOM
2026-07-31

days on market $135,000 Active 63 DOM
2026-07-29

days on market $135,000 Active 61 DOM
2026-07-27

days on market $135,000 Active 59 DOM
2026-07-25

days on market $135,000 Active 57 DOM
2026-07-24

days on market $135,000 Active 56 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $18,247
− Mortgage interest: −$7,002
− Property taxes: −$1,875
− Insurance: −$5,744
− Repairs & maintenance: −$1,460
− Management: −$1,460
− HOA: −$2,520
− Depreciation: −$3,636
Taxable loss: −$5,449

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,308
After-tax cash flow: $-2,282/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $3,840–$11,520 screening

This waterfront home in Lazy Lagoon offers a good condition with a good rehab level, minimal repairs needed, and several updates that would significantly increase its resale and rental value.

Value-add opportunities

Both Paint exterior siding — Enhances curb appeal and value ↑
Both Replace ceiling fans — Improves air circulation and aesthetics ↑
Both Install new flooring in bathrooms — Enhances aesthetics and durability ↑
Both Paint interior walls — Refreshes the space and enhances curb appeal ↑

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

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
#159 Carrier Global Palm Beach Gardens $22.2B #376 Roper Technologies Sarasota $6.8B
Insurance	2	$17B
#348 Fidelity National Financial Jacksonville $12.1B #494 Brown & Brown Daytona Beach $4.6B
Retail	1	$60B
#71 Publix Super Markets Lakeland $60.2B
Technology Distribution	1	$58B
#73 TD Synnex Clearwater $58.5B
Homebuilding	1	$35B
#185 Lennar Miami $35.4B
Technology Manufacturing	1	$35B
#122 Jabil St. Petersburg $34.7B

Price history

-5.0% since first listed

2 events — show timeline

2026-06-18 Price Changed $142,500 Stellar MLS as Distributed by MLS Grid
2026-05-29 Listed $150,000 Stellar MLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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