8320 Riverside Dr #99 · Cleveland, FL 33982

$179,900

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 15 Days on market

Built 2005 3,241 sqft lot $214/mo HOA · 11% of rent

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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 +19.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +6.3/10.0
• 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

Welcome to this furnished, move-in ready 2-bedroom, 2-bath waterfront home with private dock and boat lift in the highly desirable 55+ Lazy Lagoon community. Built in 2005 and elevated 5 feet higher for added peace of mind, this well-maintained 1,152-square-foot home combines comfort, convenience, and waterfront charm. Major updates include a newer roof installed in 2023, a brand-new AC system and hot water heater in 2026, giving confidence that the most important improvements have already been completed. Step inside and enjoy beautiful luxury vinyl flooring that flows throughout the entire home, complemented by elegant crown molding in every room. The spacious great room combines the livin

Key facts

• Boat lift
• Waterfront home
• Newer roof

Tags

• WATERFRONT HOME
• PRIVATE DOCK
• BOAT LIFT
• NEWER ROOF
• NEW AC SYSTEM
• NEW HOT WATER HEATER

Property features AI

Finance

• Other: Furnished; Lease restrictions: none
• Financial info: Total annual fees $2,570 (monthly equivalent $214.17)
• HOA & community: Has HOA (Gateway Management); Monthly HOA $210; HOA covers grounds maintenance, management, private road, recreational facilities, sewer, trash and water; Community recreation owned; Deed restrictions; Buyer approval required; Golf carts allowed; Park on site; Senior community; No pets allowed

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured double wide home; Residential property; Completed condition; One story; Southeast facing
• Construction: Metal siding; Vinyl siding; Shingle roof; Slab foundation; Built on a 0.07-acre lot
• Exterior features: Deck; Exterior lighting; Rain gutters; Sliding doors; Exterior storage; On waterfront with canal view and water access; Assigned boat slip; Private boat ramp; Boat lift (covered); Paved lot; Private maintained road; Asphalt road surface

Interior

• Kitchen: Dishwasher; Microwave; Range
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen/family room combo; Living room/dining room combo; Open floorplan; Solid surface counters; Window treatments
• Laundry & utility: Washer; Dryer; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (20.8% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $143k (20.8% below list) — sets the bar for cash-flow.
• Cap rate 7.7% 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); 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 34% 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 $1k of loan paydown is wiped out by about $5k 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 15 days — a 2% lower offer ($177k) 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; moderate 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 $142,566 (20.8% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 7.4

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: -22.7%
• Equity multiple: 0.21×
• Total profit: $-39,905
• Equity at exit: $26,824

10-year hold

• IRR: -12.7%
• Equity multiple: 0.19×
• Total profit: $-40,768
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,024 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$152 /mo · $1,820/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$214
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-211

Break-even live

Break-even rent $2,292

Max offer price $142,566

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• 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	13d	1	0.24mi

HOA detail

• Monthly dues: $214 · $2,568/yr
• Likely covers: water

Listing history 12 events

1. 2026-06-18
   days on market $179,900 Active 15 DOM
2. 2026-06-17
   days on market $179,900 Active 14 DOM
3. 2026-06-16
   days on market $179,900 Active 13 DOM
4. 2026-06-15
   days on market $179,900 Active 12 DOM
5. 2026-06-14
   days on market $179,900 Active 10 DOM
6. 2026-06-13
   days on market $179,900 Active 9 DOM
7. 2026-06-10
   days on market $179,900 Active 7 DOM
8. 2026-06-09
   days on market $179,900 Active 6 DOM
9. 2026-06-08
   days on market $179,900 Active 5 DOM
10. 2026-06-07
    days on market $179,900 Active 4 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $179,900 Active 1 DOM

ⓘ 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: $1,820 · $152/mo
• Projected year-2 tax: $1,820 · $152/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 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: $24,292
• − Mortgage interest: −$10,077
• − Property taxes: −$1,820
• − Insurance: −$6,018
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − HOA: −$2,568
• − Depreciation: −$5,233
• Taxable loss: −$5,311
• Est. tax savings @ 24.0%: +$1,275
• After-tax cash flow: $-1,261/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

1 event — show timeline

• 2026-06-03 Listed $179,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $1,820 · -10.5% YoY. Source: county tax records.