1605 Griffith Ave · Cleveland, FL 33982

$95,000

2 bd · 1.0 ba · 672 sqft · Other · 326 Days on market

Built 1973 0.84 ac lot ↓ 17% since listing

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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

Great opportunity for a good returning rental, a snowbird home or a redevelopment project. No HOA or deed restrictions. The home is located on a nice and quiet dead-end street. Close to shopping, restaurants, entertainment and the Peace River Bay. Please do not disturb the tenants.

Key facts

• Close to restaurants
• No hoa
• Close to shopping

Tags

• NO HOA
• NO DEED RESTRICTIONS
• QUIET DEAD-END STREET
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS
• CLOSE TO ENTERTAINMENT

Property features AI

Finance

• Other: Lot about 0.35 acres (approximately 1/4 to less than 1/2 acre); Zoned MHC (manufactured home community); No lease restrictions indicated

Exterior

• Utilities: Public and well water available; Septic tank sewer; Utilities include public and private services
• Home design: Mobile home (single wide); One story; Northeast facing; Entry on one level
• Construction: Metal frame construction; Metal roof; Crawlspace foundation; Building area approximately 672 (estimated)
• Exterior features: Other exterior features; Asphalt road access

Interior

• Kitchen: Refrigerator; Convection oven
• Bedrooms: 2 bedrooms (one-level home)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning unit(s)
• Interior features: Convection oven; Electric water heater; Estimated living area 672
• Laundry & utility: Washer and dryer inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.4% 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; 2 comparable units currently listed for rent nearby; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• This rent runs 31% 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 $657 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 326 days — a 12% lower offer ($84k) 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; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 326 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 1973 — 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. 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: 2.00% ✓
• Cap rate: 17.43%
• Cash-on-cash: 39.79%
• DSCR: 2.77
• GRM: 4.2

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: 14.8%
• Equity multiple: 1.60×
• Total profit: $16,064
• Equity at exit: $14,165

10-year hold

• IRR: 24.7%
• Equity multiple: 3.32×
• Total profit: $61,592
• Equity at exit: $8,214

Cash invested: $26,600 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,899 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$40
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $455

Break-even live

Break-even rent $1,322

Max offer price $95,000

Occupancy floor 71%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28200 Bermont Rd Punta Gorda, FL	2.0	1.0–2.0	400	$1,400	$3.50	21d	1	0.86mi
3000 Coquina Esplanade Punta Gorda, FL	1.0	1.0	576	$1,450	$2.52	21d	1	1.14mi

Listing history 16 events

1. 2026-06-18
   days on market $95,000 Active 326 DOM
2. 2026-06-17
   days on market $95,000 Active 325 DOM
3. 2026-06-16
   days on market $95,000 Active 324 DOM
4. 2026-06-15
   days on market $95,000 Active 323 DOM
5. 2026-06-14
   days on market $95,000 Active 321 DOM
6. 2026-06-13
   days on market $95,000 Active 320 DOM
7. 2026-06-10
   days on market $95,000 Active 318 DOM
8. 2026-06-09
   days on market $95,000 Active 317 DOM
9. 2026-06-08
   days on market $95,000 Active 316 DOM
10. 2026-06-05
    days on market $95,000 Active 312 DOM
11. 2026-06-02
    days on market $95,000 Active 310 DOM
12. 2026-06-01
    days on market $95,000 Active 309 DOM
13. 2026-05-31
    days on market $95,000 Active 308 DOM
14. 2026-05-30
    days on market $95,000 Active 307 DOM
15. 2026-01-15
    price $95,000
16. 2025-07-27
    listed $115,000 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: $964 · $80/mo
• Projected year-2 tax: $964 · $80/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 4/10 Moderate
• 🌡 Heat 10/10 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: $22,786
• − Mortgage interest: −$5,321
• − Property taxes: −$964
• − Insurance: −$5,594
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − Depreciation: −$2,764
• Taxable income: $4,498
• Est. tax owed @ 24.0%: −$1,079
• After-tax cash flow: $4,386/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

-17.4% since first listed

2 events — show timeline

• 2026-01-15 Price Changed $95,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-27 Listed $115,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-2.3%/yr

Latest (2025): $964 · -25.4% YoY. Source: county tax records.