4300 Riverside Dr #137 · Cleveland, FL 33982

$89,000

2 bd · 1.5 ba · 798 sqft · Manufactured public records · 615 Days on market

Built 2005 4,958 sqft lot $250/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 +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
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks MLS

What a great opportunity to own a Florida getaway without breaking the bank. This newer home is light bright and welcoming and has only been lived in on a seasonal basis. It offers 2 bedrooms and 1-1/2 baths. There is an inside laundry for your convenience and the home is being sold furnished. River Forest is a an active 55+ waterfront community which has a great clubhouse and lots of activities such as heated pool, shuffleboard, bocce courts, horeshoe pits and social activities to please just about everyone.

Key facts

• 4,958 sq ft lot
• Parking
• Community pool

Tags

• LARGE CLUBHOUSE POOL SPA

Property features AI

Finance

• Financial info: Total monthly fees reported as $250; total annual fees reported as $3,000; Lease restrictions apply
• HOA & community: Has HOA (Marge); monthly fee $250; Association amenities include clubhouse, pool, shuffleboard court, spa/hot tub; Association fees include cable TV, pool access, grounds maintenance, trash, and water; Association approval required; Senior community; pets not allowed; Buyer approval required; golf carts allowed

Exterior

• Parking: Driveway and off-street parking; Carport (1 space)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected; Underground utilities; Access to Peace River
• Home design: Manufactured home (single wide); Attached property; One story; Faces west
• Construction: Vinyl siding; Metal roof; Crawlspace foundation
• Exterior features: Covered, enclosed and screened patio/porch; Patio and porch with sliding doors; Exterior lighting; Shed(s); Access to Peace River via brackish canal; Private boat ramp

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning; Decorative electric fireplace
• Interior features: Ceiling fans; Open floor plan; Kitchen and family room combo; Split bedroom layout; Window treatments (blinds, drapes, double-pane windows)
• Laundry & utility: Washer; Dryer; Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $76 ($910/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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, 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 rising fast (+4.1%/yr); 1037 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $615 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 615 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $50k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $89k implies a 197% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 615 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.96% ✓
• Cap rate: 13.07%
• Cash-on-cash: 24.19%
• DSCR: 2.08
• GRM: 4.3

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: -7.6%
• Equity multiple: 0.71×
• Total profit: $-7,142
• Equity at exit: $13,270

10-year hold

• IRR: 5.0%
• Equity multiple: 1.41×
• Total profit: $10,223
• Equity at exit: $7,695

Cash invested: $24,920 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,741 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$119 /mo · $1,430/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$250
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $76

Break-even live

Break-even rent $1,645

Max offer price $89,000

Occupancy floor 91%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3615 Dawson Ln Punta Gorda, FL	2.0	2.0	1014	$1,450	$1.43	21d	1	0.46mi
3111 Riverside Dr Unit A Punta Gorda, FL	2.0	2.0	1112	$1,595	$1.43	13d	1	0.81mi
520 Drury Ln Unit 520 Punta Gorda, FL	2.0	1.0	860	$1,350	$1.57	21d	1	1.50mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterpool

Listing history 28 events

1. 2026-06-18
   days on market $89,000 Active 615 DOM
2. 2026-06-17
   price $89,000 Active 614 DOM
3. 2026-06-17
   days on market $99,000 Active 614 DOM
4. 2026-06-16
   days on market $99,000 Active 613 DOM
5. 2026-06-15
   days on market $99,000 Active 612 DOM
6. 2026-06-14
   days on market $99,000 Active 610 DOM
7. 2026-06-13
   days on market $99,000 Active 609 DOM
8. 2026-06-10
   days on market $99,000 Active 607 DOM
9. 2026-06-09
   days on market $99,000 Active 606 DOM
10. 2026-06-08
    days on market $99,000 Active 605 DOM
11. 2026-06-05
    days on market $99,000 Active 601 DOM
12. 2026-06-02
    days on market $99,000 Active 599 DOM
13. 2026-06-01
    days on market $99,000 Active 598 DOM
14. 2026-05-31
    days on market $99,000 Active 597 DOM
15. 2026-05-30
    days on market $99,000 Active 596 DOM
16. 2025-10-10
    price $99,000
17. 2025-09-08
    price $104,000
18. 2025-07-28
    price $118,000
19. 2025-06-26
    price $120,000
20. 2025-05-02
    price $124,000
21. 2025-04-07
    price $125,000
22. 2025-04-06
    price $127,000
23. 2025-03-07
    price $128,000
24. 2024-12-19
    price $129,000
25. 2024-11-12
    price $134,000
26. 2024-10-11
    listed $139,000 Active
27. 2013-04-05
    soldstatus $30,000 514-char remark

    Show marketing remark (514 chars)

    What a great opportunity to own a Florida getaway without breaking the bank. This newer home is light bright and welcoming and has only been lived in on a seasonal basis. It offers 2 bedrooms and 1-1/2 baths. There is an inside laundry for your convenience and the home is being sold furnished. River Forest is a an active 55+ waterfront community which has a great clubhouse and lots of activities such as heated pool, shuffleboard, bocce courts, horeshoe pits and social activities to please just about everyone.

28. 2013-03-04
    listed $34,900 514-char remark

    Show marketing remark (514 chars)

    What a great opportunity to own a Florida getaway without breaking the bank. This newer home is light bright and welcoming and has only been lived in on a seasonal basis. It offers 2 bedrooms and 1-1/2 baths. There is an inside laundry for your convenience and the home is being sold furnished. River Forest is a an active 55+ waterfront community which has a great clubhouse and lots of activities such as heated pool, shuffleboard, bocce courts, horeshoe pits and social activities to please just about everyone.

ⓘ 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: $1,430 · $119/mo
• Projected year-2 tax: $1,430 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 · 30 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: $20,892
• − Mortgage interest: −$4,985
• − Property taxes: −$1,430
• − Insurance: −$5,564
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − HOA: −$3,000
• − Depreciation: −$2,589
• Taxable loss: −$19
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $915/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 — 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
• 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

+183.7% since first listed

13 events — show timeline

• 2025-10-10 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-08 Price Changed $104,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-28 Price Changed $118,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-02 Price Changed $124,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-07 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-06 Price Changed $127,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-07 Price Changed $128,000 Stellar MLS as Distributed by MLS Grid
• 2024-12-19 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-12 Price Changed $134,000 Stellar MLS as Distributed by MLS Grid
• 2024-10-11 Listed $139,000 Stellar MLS as Distributed by MLS Grid
• 2013-04-05 Sold (MLS) $30,000 Stellar MLS as Distributed by MLS Grid
• 2013-03-04 Listed $34,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $1,430 · -9.2% YoY. Source: county tax records.