60 5th St · Cleveland, FL 33982

$75,900

1 bd · 1.0 ba · 672 sqft · Manufactured public records · 222 Days on market

Built 1979 2,814 sqft lot $210/mo HOA · 13% 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

AMAZING OPPORTUNITY! RECENTLY REDUCED HOA FEE! Only $210/mo. * * * The seller is offering a new 2025 48 Volt golf cart with and acceptable offer!! * * * Discover the perfect blend of comfort, convenience, and community in this charming 55+ mobile home neighborhood! Nestled in the heart of Punta Gorda's Shell Creek area, Lazy Lagoon offers a relaxed, low-maintenance lifestyle surrounded by friendly neighbors and beautiful grounds. This inviting get away features 1 large bedroom and 1full bathroom, with a bright, open floor plan designed for easy living. The spacious kitchen includes a dining area open to the living area. The family room is ideal for morning coffee or evening relaxati

Key facts

• Car port
• Close to i75
• Furnished

Tags

• MOVE IN READY
• FURNISHED
• PARKING FOR A GOLF CART
• CAR PORT
• CLOSE TO I75
• CLOSE TO PUNTA GORDA AIRPORT

Property features AI

Finance

• Other: Furnished; Third-party listing; Taxes reported for 2024
• Financial info: Total monthly fees $210; total annual fees $2,520; Lease restrictions apply
• HOA & community: Gateway association (monthly fee $210); Association fee includes common area taxes, escrow reserves, maintenance of grounds, sewer, trash and water; Association approval required; Deed restrictions; Community mailbox; Golf carts allowed; Senior community; Pets not allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Cable connected
• Home design: Manufactured home (single wide); One story; East-facing
• Construction: Vinyl siding; Other roof; Slab foundation; Built on a 0.06-acre lot
• Exterior features: Storage; Paved road access

Interior

• Kitchen: Built-in oven; Microwave; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Thermostat; 4 total rooms
• Laundry & utility: Washer; Dryer; Inside laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $76k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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; 1 comparable units currently listed for rent nearby; 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 $525 of loan paydown is wiped out by about $2k 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 222 days — a 12% lower offer ($67k) 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 $66,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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. 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: 2.10% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.05%
• DSCR: 2.29
• GRM: 4.0

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: -5.5%
• Equity multiple: 0.79×
• Total profit: $-4,437
• Equity at exit: $11,317

10-year hold

• IRR: 7.1%
• Equity multiple: 1.60×
• Total profit: $12,772
• Equity at exit: $6,562

Cash invested: $21,252 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$398
• Tax from tax record: −$106 /mo · $1,275/yr
• Insurance: −$32
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$210
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $88

Break-even live

Break-even rent $1,484

Max offer price $75,900

Occupancy floor 89%

Sensitivity live

Price	-10% $131	-5% $109	+0% $88	+5% $67	+10% $45
Rent	-10% $-38	-5% $25	+0% $88	+5% $151	+10% $214
Rate	-1.0pp $126	-0.5pp $107	base $88	+0.5pp $68	+1.0pp $48

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: $18,975
• Closing costs: $2,277
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Coquina Esplanade Punta Gorda, FL	1.0	1.0	576	$1,450	$2.52	21d	1	1.05mi

HOA detail

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

Listing history 15 events

1. 2026-06-18
   days on market $75,900 Active 222 DOM
2. 2026-06-17
   days on market $75,900 Active 221 DOM
3. 2026-06-16
   days on market $75,900 Active 220 DOM
4. 2026-06-15
   days on market $75,900 Active 219 DOM
5. 2026-06-14
   days on market $75,900 Active 217 DOM
6. 2026-06-13
   days on market $75,900 Active 216 DOM
7. 2026-06-10
   days on market $75,900 Active 214 DOM
8. 2026-06-09
   days on market $75,900 Active 213 DOM
9. 2026-06-08
   days on market $75,900 Active 212 DOM
10. 2026-06-05
    days on market $75,900 Active 208 DOM
11. 2026-06-02
    days on market $75,900 Active 206 DOM
12. 2026-06-01
    days on market $75,900 Active 205 DOM
13. 2026-05-31
    days on market $75,900 Active 204 DOM
14. 2026-05-30
    days on market $75,900 Active 203 DOM
15. 2025-11-08
    listed $75,900 Active

ⓘ 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: $1,275 · $106/mo
• Projected year-2 tax: $1,275 · $106/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: $19,146
• − Mortgage interest: −$4,252
• − Property taxes: −$1,275
• − Insurance: −$5,498
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − HOA: −$2,520
• − Depreciation: −$2,208
• Taxable income: $330
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $977/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

• 2025-11-08 Listed $75,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $1,275 · -5.3% YoY. Source: county tax records.