8320 Riverside Dr #75 · Cleveland, FL 33982

$119,777

2 bd · 2.0 ba · 1,008 sqft · SingleFamily · 97 Days on market

Built 1974 3,704 sqft lot $210/mo HOA · 11% 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

A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bed 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. Both bedrooms have ample closet space and built-in drawers. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. A large, covered carport. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent.

Key facts

• Private workshop
• Commercial kitchen
• Newer windows

Tags

• UPDATED FLOORING
• NEWER WINDOWS
• BUILT-IN DINING BUFFET
• PRIVATE WORKSHOP
• FISH CLEANING STATION
• COMMERCIAL KITCHEN

Property features AI

Finance

• Other: Furnished; Direction faces south
• Financial info: Total monthly fees $210; Total annual fees $2,520; No lease restrictions indicated
• HOA & community: Gateway Management association; Monthly association fee $210 (includes escrow reserves, grounds maintenance, management, private road, recreational facilities, sewer, trash, water); Association amenities: park, recreation facilities; Buyer approval required; Deed restrictions; Golf carts allowed; Senior community; Pets not allowed

Exterior

• Parking: Driveway; Parking pad; Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Residential mobile home (double wide); One story; South-facing; Completed condition; Crawlspace foundation
• Construction: Metal siding; Roof over
• Exterior features: Sidewalk; Asphalt road access

Interior

• Kitchen: Microwave; Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Pest guard system
• Laundry & utility: Washer; Dryer; Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $77 ($926/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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); 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); 1037 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 32% 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 $828 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 97 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,997 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.63% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.02%
• DSCR: 1.80
• GRM: 5.1

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: -9.4%
• Equity multiple: 0.65×
• Total profit: $-11,831
• Equity at exit: $17,859

10-year hold

• IRR: 2.7%
• Equity multiple: 1.21×
• Total profit: $7,154
• Equity at exit: $10,356

Cash invested: $33,538 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,951 medium
• Mortgage (P&I): −$628
• Tax est. 1.5%: −$150 /mo · $1,797/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$210
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $77

Break-even live

Break-even rent $1,854

Max offer price $119,777

Occupancy floor 91%

Sensitivity live

Price	-10% $160	-5% $119	+0% $77	+5% $36	+10% $-6
Rent	-10% $-77	-5% $0	+0% $77	+5% $154	+10% $231
Rate	-1.0pp $137	-0.5pp $108	base $77	+0.5pp $46	+1.0pp $15

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: $29,944
• Closing costs: $3,593
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	15d	1	0.31mi

HOA detail

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

Listing history 23 events

1. 2026-06-18
   days on market $119,777 Active 97 DOM
2. 2026-06-17
   days on market $119,777 Active 96 DOM
3. 2026-06-16
   days on market $119,777 Active 95 DOM
4. 2026-06-15
   days on market $119,777 Active 94 DOM
5. 2026-06-14
   days on market $119,777 Active 92 DOM
6. 2026-06-13
   days on market $119,777 Active 91 DOM
7. 2026-06-10
   days on market $119,777 Active 89 DOM
8. 2026-06-09
   days on market $119,777 Active 88 DOM
9. 2026-06-08
   days on market $119,777 Active 87 DOM
10. 2026-06-07
    days on market $119,777 Active 86 DOM
11. 2026-06-05
    days on market $119,777 Active 83 DOM
12. 2026-06-03
    days on market $119,777 Active 82 DOM
13. 2026-06-02
    days on market $119,777 Active 81 DOM
14. 2026-06-01
    days on market $119,777 Active 80 DOM
15. 2026-05-31
    days on market $119,777 Active 79 DOM
16. 2026-05-30
    days on market $119,777 Active 78 DOM
17. 2026-03-13
    listed $119,777 Active
18. 2023-07-26
    soldstatus $100,000 Closed 1194-char remark

    Show marketing remark (1496 chars)

    Under contract-accepting backup offers. A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bedroom 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. The bedrooms with ample closet space and built-in drawers are both bright and cheery and provide sunlight. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. Stepping outside, you will find a large, covered carport for cars, a golf cart, a boat, or simply a respite from the sun on a hot afternoon. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, and includes a private road, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent. Start living “exceptionally” by the water. Call today.

19. 2023-07-26
    soldstatus $100,000 Closed 1496-char remark

    Show marketing remark (1496 chars)

    Under contract-accepting backup offers. A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bedroom 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. The bedrooms with ample closet space and built-in drawers are both bright and cheery and provide sunlight. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. Stepping outside, you will find a large, covered carport for cars, a golf cart, a boat, or simply a respite from the sun on a hot afternoon. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, and includes a private road, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent. Start living “exceptionally” by the water. Call today.

20. 2023-07-03
    status Pending 1496-char remark

    Show marketing remark (1194 chars)

    A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bed 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. Both bedrooms have ample closet space and built-in drawers. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. A large, covered carport. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent.

21. 2023-07-03
    status Pending 1194-char remark

    Show marketing remark (1194 chars)

    A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bed 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. Both bedrooms have ample closet space and built-in drawers. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. A large, covered carport. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent.

22. 2023-06-27
    listed $105,000 Active 1194-char remark

    Show marketing remark (1496 chars)

    Under contract-accepting backup offers. A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bedroom 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. The bedrooms with ample closet space and built-in drawers are both bright and cheery and provide sunlight. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. Stepping outside, you will find a large, covered carport for cars, a golf cart, a boat, or simply a respite from the sun on a hot afternoon. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, and includes a private road, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent. Start living “exceptionally” by the water. Call today.

23. 2023-06-27
    listed $105,000 Active 1496-char remark

    Show marketing remark (1496 chars)

    Under contract-accepting backup offers. A rare opportunity to live on a peninsula along the banks of Shell Creek in Lazy Lagoon, an active 55+ community. This 2 bedroom 2 bath home welcomes you into the open floor plan connecting the kitchen, living room and dining room. Aesthetically, the kitchen’s upgrades with interesting backsplash and wood plank wall complement the stainless-steel appliances and give the home an updated look. The kitchen has an abundance of cabinet space and pantry, and the dining room has an exquisite built-in buffet with decorative cabinets and drawers for storage. The stackable washer and dryer found in the home is yet another comfort along with a newly installed air conditioning unit and windows. The bedrooms with ample closet space and built-in drawers are both bright and cheery and provide sunlight. The master bathroom has a walk-in shower, and a private entrance to the bedroom, while the guest bath has a shower tub combo. Stepping outside, you will find a large, covered carport for cars, a golf cart, a boat, or simply a respite from the sun on a hot afternoon. The property also features a private storage shed, however, included in the purchase of the home, is a common storage facility. Lazy Lagoon provides easy access to many waterways, and includes a private road, guest parking, boat ramp with fish cleaning station, shuffleboard courts and a clubhouse available for rent. Start living “exceptionally” by the water. Call today.

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 27 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: $23,414
• − Mortgage interest: −$6,709
• − Property taxes: −$1,797
• − Insurance: −$5,717
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$2,520
• − Depreciation: −$3,484
• Taxable loss: −$560
• Est. tax savings @ 24.0%: +$134
• After-tax cash flow: $1,060/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

+14.1% since first listed

7 events — show timeline

• 2026-03-13 Listed $119,777 Stellar MLS as Distributed by MLS Grid
• 2023-07-26 Sold (MLS) $100,000 Stellar MLS as Distributed by MLS Grid
• 2023-07-26 Sold (MLS) $100,000 FORTMLS
• 2023-07-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-07-03 Pending — FORTMLS
• 2023-06-27 Listed $105,000 Stellar MLS as Distributed by MLS Grid
• 2023-06-27 Listed $105,000 FORTMLS