126 Lazy Lagoon Dr · Cleveland, FL 33982

$119,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 503 Days on market

Built 2005 3,212 sqft lot $210/mo HOA · 11% of rent ↓ 15% 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

Recently REDUCED HOA FEES and 50k PRICE DROP! GULF ACCESS via the Peace River and Charlotte Harbor! You'll love this year round, fully updated and furnished 2 bedroom, 1 bath home on the water! You have a private 10x7.5 dock out your back door that is on Shell Creek. You'll have an 8x10 storage shed. There is washer/dryer hook up in the house (washer and dryer included) . The creek goes right into the Peace River and out to the gulf! The community offers a clubhouse with a kitchen, laundry facilities (you also have laundry inside unit laundry here), storage area for boats and trailers, and billiards room. There is extra guest parking too! Lazy Lagoon is a 55+ community that has

Key facts

• Laundry facilities
• Private dock
• Gulf access

Tags

• PRIVATE DOCK
• GULF ACCESS
• CLUBHOUSE WITH KITCHEN
• LAUNDRY FACILITIES
• STORAGE AREA FOR BOATS
• BILLIARDS ROOM

Property features AI

Finance

• Other: Directions provided by listing; Total living area about 672 square feet; Lot approximately 0.07 acres (asphalt road)
• Financial info: Total annual fees $2,520; Lease restrictions apply
• HOA & community: Has HOA (Gateway) with required approval; Monthly HOA fee $210 (includes private road); Association amenities: Clubhouse, Laundry; Community features: Buyer approval required, Community mailbox, Deed restrictions; Senior community; No pets allowed

Exterior

• Parking: Has carport (1 space)
• Utilities: Cable available; Electricity connected; Sewer: Other; Water: see remarks
• Home design: Manufactured single-wide home; One story; Faces east
• Construction: Vinyl siding; Membrane roof; Other foundation
• Exterior features: Other exterior features; On waterfront (Shell Creek) — canal (saltwater)

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Kitchen/family room combo; Split bedroom layout; Thermostat
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $37 ($448/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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); Charlotte High School (math 44% / reading 46%, grade D-, #228 of 667 statewide, top 35%, 1,994 students, 41% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 1044 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 30% 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 $823 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 503 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $50k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 503 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.54% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.71%
• DSCR: 1.74
• GRM: 5.4

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: -11.7%
• Equity multiple: 0.57×
• Total profit: $-14,417
• Equity at exit: $17,743

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $903
• Equity at exit: $10,289

Cash invested: $33,320 (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: 1044
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$210
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $37

Break-even live

Break-even rent $1,780

Max offer price $119,000

Occupancy floor 93%

Sensitivity live

Price	-10% $105	-5% $71	+0% $37	+5% $4	+10% $-30
Rent	-10% $-107	-5% $-35	+0% $37	+5% $110	+10% $182
Rate	-1.0pp $97	-0.5pp $68	base $37	+0.5pp $7	+1.0pp $-25

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: $29,750
• Closing costs: $3,570
• 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	23d	1	1.12mi

HOA detail

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

Listing history 21 events

1. 2026-06-22
   days on market $119,000 Active 503 DOM
2. 2026-06-18
   days on market $119,000 Active 500 DOM
3. 2026-06-17
   days on market $119,000 Active 499 DOM
4. 2026-06-16
   days on market $119,000 Active 498 DOM
5. 2026-06-15
   days on market $119,000 Active 497 DOM
6. 2026-06-14
   days on market $119,000 Active 495 DOM
7. 2026-06-13
   days on market $119,000 Active 494 DOM
8. 2026-06-10
   days on market $119,000 Active 492 DOM
9. 2026-06-09
   days on market $119,000 Active 491 DOM
10. 2026-06-08
    days on market $119,000 Active 490 DOM
11. 2026-06-05
    days on market $119,000 Active 486 DOM
12. 2026-06-02
    days on market $119,000 Active 484 DOM
13. 2026-06-01
    days on market $119,000 Active 483 DOM
14. 2026-05-31
    days on market $119,000 Active 482 DOM
15. 2026-05-30
    days on market $119,000 Active 481 DOM
16. 2026-01-16
    price $119,000
17. 2025-07-21
    price $139,000
18. 2025-02-03
    listed $169,000 Active
19. 2024-11-20
    historical
20. 2024-08-16
    price $129,900
21. 2024-06-11
    listed $139,900 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: $1,157 · $96/mo
• Projected year-2 tax: $1,157 · $96/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $21,933
• − Mortgage interest: −$6,666
• − Property taxes: −$1,157
• − Insurance: −$5,714
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − HOA: −$2,520
• − Depreciation: −$3,462
• Taxable loss: −$1,094
• Est. tax savings @ 24.0%: +$263
• After-tax cash flow: $711/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

-14.9% since first listed

6 events — show timeline

• 2026-01-16 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $139,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-03 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2024-11-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-08-16 Price Changed $129,900 Stellar MLS as Distributed by MLS Grid
• 2024-06-11 Listed $139,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2025): $1,157 · -38.4% YoY. Source: county tax records.