490 Broad Ave S Unit H490 · Naples, FL 34102

$560,000

2 bd · 2.0 ba · 890 sqft · Condo public records · 51 Days on market

Built 1969 $730/mo HOA · 14% of rent

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Why this score? — see what drove the D+ 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 +10.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

HERON CLUB BUYERS MAY NOW BE ANY AGE! NO 55+YRS LIMITATION LIKE OTHER VILLAGE GREEN CONDOS. LOVELY 2 BEDROOM, 2 BATH, FURNISHED, SECOND FLOOR CONDO WITH ELEVATOR. DETACHED CARPORT AND GUEST PARKING SPACES. LOCATED IN THE HEART OF OLDE NAPLES. ACROSS THE STREET FROM THE COMMUNITY POOL AND CLUBHOUSE. A GREAT BUY FOR BUYERS WHO WANT TO BE CLOSE TO THE BEACH, NAPLES PIER, 3RD STREET SHOPS AND RESTAURANTS. LOWEST PRICE UNIT IN THE BUILDING!

Key facts

• Custom cabinetry
• Breakfast island
• Extra storage

Tags

• KITCHEN REMODEL
• CUSTOM CABINETRY
• EXTRA STORAGE
• STAINLESS APPLIANCES
• GRANITE COUNTERTOPS
• BREAKFAST ISLAND

Property features AI

Finance

• Other: Deeded restrictions: no motorcycles, no RV
• Financial info: Multi-unit property: 2 units per floor, 42 units in building, 313 units in complex, single-story building
• HOA & community: Quarterly condo fee; Professional management; Community amenities include BBQ/picnic, bike storage, bocce court, clubhouse, common laundry, community pool, community room, extra storage, internet access, library, shuffleboard, sidewalks, streetlights, underground utilities, and vehicle wash area; Maintenance covers insurance, irrigation water, laundry facilities, lawn/land maintenance, legal/accounting, manager, master association fee, pest control (interior & exterior), recreation facilities, repairs, reserves, sewer, trash removal and water; Total annual recurring fees indicated; One-time fees apply

Exterior

• Parking: 1 assigned covered parking space; Driveway paved; Guest parking available; Detached 1-car carport
• Security: Impact resistant doors and windows
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential condo in a low-rise (1–3) building; Florida / Traditional style; Rear exposure faces south; Located in Village Green / Heron Club development
• Construction: Concrete block construction; Stucco exterior finish; Built-up or flat roof; Originally built in 1969
• Exterior features: Outdoor kitchen; Patio; Storage

Interior

• Kitchen: Island; Pantry; Dishwasher; Disposal; Microwave; Range; Refrigerator/freezer; Self-cleaning oven
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Bar; Built-in cabinets; Cable prewire; High-speed internet available; Smoke detectors; Walk-in closet; Window coverings; Common elevator access; Partially furnished; Den / study; Guest bath; Screened lanai/porch; Island and pantry in kitchen; Breakfast bar / dining in living area; Four ceiling fans
• Laundry & utility: Laundry facilities available (community)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $560k.

Deal economics

• At list price, monthly cash flow is $-681 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $440k (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $510k (8.9% below list).
• Recommended offer: $440k (21.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 80/100 on livability (#126 in FL, #1,903 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute D+, cost of living F.
• Collier (suburban): math 60% / reading 56% proficiency, ranked #16 of 73 in FL (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lake Park Elementary School (math 76% / reading 77%, grade A, #185 of 2,144 statewide, top 9%, 502 students, 39% FRL); Gulfview Middle School (math 78% / reading 68%, grade A, #44 of 571 statewide, top 8%, 582 students, 40% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 616 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $5,101/mo this rent would consume 47% of the median local household income ($131k/yr) (locally 333% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($4k loan paydown + $23k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($543k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $210k; list at $560k implies a 167% gain — meaningful room to come down on a strong offer.

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 $439,626 (21.5% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.08% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.54×
• Total profit: $84,384
• Equity at exit: $286,665

10-year hold

• IRR: 13.1%
• Equity multiple: 3.38×
• Total profit: $373,682
• Equity at exit: $471,061

Cash invested: $156,800 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 616
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $5,101 medium
• Mortgage (P&I): −$2,937
• Tax from tax record: −$384 /mo · $4,613/yr
• Insurance: −$233
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$730
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $-681

Break-even live

Break-even rent $5,963

Max offer price $439,626

Occupancy floor —

Sensitivity live

Price	-10% $-364	-5% $-523	+0% $-681	+5% $-840	+10% $-998
Rent	-10% $-1,084	-5% $-883	+0% $-681	+5% $-480	+10% $-278
Rate	-1.0pp $-399	-0.5pp $-539	base $-681	+0.5pp $-827	+1.0pp $-974

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: $140,000
• Closing costs: $16,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
546 Broad Ave S #546 Naples, FL	2.0	2.0	890	$4,800	$5.39	25d	1	0.03mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$7,200	$10.29	25d	2	0.04mi
421 12th Ave S Unit A1 Naples, FL	2.0	1.0	760	$6,400	$8.42	15d	1	0.08mi
404 Broad Ave S Unit H404 Naples, FL	2.0	2.0	890	$9,995	$11.23	25d	1	0.08mi
609 12th Ave S #609 Naples, FL	2.0	2.0	860	$8,000	$9.30	25d	1	0.12mi
636 Broad Ave S Unit 1259386P Naples, FL	2.0	2.0	882	$4,307	$4.88	15d	1	0.12mi
960 7th St S #103 Naples, FL	1.0	1.0	534	$5,000	$9.36	25d	1	0.26mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$3,995	$4.59	25d	2	0.32mi
1295 Gulf Shore Blvd S #218 Naples, FL	2.0	2.0	662	$10,479	$15.83	25d	1	0.35mi
351 8th Ave S #351 Naples, FL	2.0	2.0	930	$4,000	$4.30	25d	1	0.40mi
291 8th Ave S Unit 291A Naples, FL	1.0	1.0	550	$3,900	$7.09	25d	1	0.43mi
250 7th Ave S #301 Naples, FL	2.0	2.0	1000	$10,000	$10.00	25d	1	0.46mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$8,000	$8.58	15d	2	0.49mi
950 7th Ave S #23 Naples, FL	1.0	1.0	631	$3,250	$5.15	15d	1	0.56mi
980 7th Ave S Naples, FL	1.0	1.0	540	$7,500	$13.89	25d	2	0.57mi
365 5th Ave S #303 Naples, FL	2.0	2.0	1090	$13,000	$11.93	25d	1	0.60mi
1100 8th Ave S Naples, FL	2.0	2.0	1218	$9,000	$7.39	15d	5	0.62mi
480 5th St S #102 Naples, FL	1.0	1.0	600	$6,500	$10.83	25d	1	0.62mi
540 4th Ave S #13 Naples, FL	1.0	1.0	580	$5,000	$8.62	25d	1	0.62mi
388 4th Ave S #388 Naples, FL	2.0	2.0	965	$13,000	$13.47	25d	1	0.65mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	25d	2	0.66mi
296 4th Ave S #296 Naples, FL	2.0	2.5	1120	$2,950	$2.63	23d	1	0.67mi
230 3rd Ave S #4 Naples, FL	2.0	2.5	978	$12,000	$12.27	25d	1	0.75mi
290 4th St S #202 Naples, FL	2.0	2.0	1058	$10,000	$9.45	25d	1	0.76mi
282 4th St S Naples, FL	2.0	2.0	1058	$11,000	$10.40	25d	1	0.76mi
286 4th St S #203 Naples, FL	2.0	2.0	1058	$10,000	$9.45	25d	1	0.76mi
284 4th St S #103 Naples, FL	2.0	2.0	979	$9,000	$9.19	25d	1	0.76mi
1360 Chesapeake Ave Unit 1372 Naples, FL	1.0	1.0	600	$1,850	$3.08	25d	1	0.76mi
805 River Point Dr Unit 307C Naples, FL	1.0	1.0	816	$2,700	$3.31	25d	1	0.79mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	25d	1	0.80mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	25d	1	0.82mi
801 River Point Dr Unit 303A Naples, FL	1.0	1.0	815	$5,000	$6.13	23d	1	0.82mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	25d	1	0.85mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	23d	1	0.85mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	15d	1	0.88mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	25d	4	0.90mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	15d	4	0.90mi
1535 Chesapeake Ave Unit A2 Naples, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.91mi
450 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.5	1324	$8,750	$6.61	25d	6	0.92mi
766 Central Ave Naples, FL	2.0–3.0	2.0	855	$6,300	$7.37	23d	3	0.94mi

HOA detail condo

• Monthly dues: $730 · $8,760/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $560,000 Active 51 DOM
2. 2026-06-18
   days on market $560,000 Active 48 DOM
3. 2026-06-17
   days on market $560,000 Active 47 DOM
4. 2026-06-16
   days on market $560,000 Active 46 DOM
5. 2026-06-15
   days on market $560,000 Active 45 DOM
6. 2026-06-14
   days on market $560,000 Active 43 DOM
7. 2026-06-10
   days on market $560,000 Active 40 DOM
8. 2026-06-09
   days on market $560,000 Active 39 DOM
9. 2026-06-08
   days on market $560,000 Active 38 DOM
10. 2026-06-07
    days on market $560,000 Active 37 DOM
11. 2026-06-03
    days on market $560,000 Active 33 DOM
12. 2026-06-02
    days on market $560,000 Active 32 DOM
13. 2026-06-01
    days on market $560,000 Active 31 DOM
14. 2026-05-31
    days on market $560,000 Active 30 DOM
15. 2026-05-30
    days on market $560,000 Active 29 DOM
16. 2026-05-01
    listed $560,000 Active
17. 2026-01-01
    historical $2,600
18. 2025-07-02
    listed $2,600
19. 2011-04-18
    soldstatus $210,000 440-char remark

    Show marketing remark (440 chars)

    HERON CLUB BUYERS MAY NOW BE ANY AGE! NO 55+YRS LIMITATION LIKE OTHER VILLAGE GREEN CONDOS. LOVELY 2 BEDROOM, 2 BATH, FURNISHED, SECOND FLOOR CONDO WITH ELEVATOR. DETACHED CARPORT AND GUEST PARKING SPACES. LOCATED IN THE HEART OF OLDE NAPLES. ACROSS THE STREET FROM THE COMMUNITY POOL AND CLUBHOUSE. A GREAT BUY FOR BUYERS WHO WANT TO BE CLOSE TO THE BEACH, NAPLES PIER, 3RD STREET SHOPS AND RESTAURANTS. LOWEST PRICE UNIT IN THE BUILDING!

20. 2011-04-18
    soldstatus $210,000

    Show marketing remark (440 chars)

    HERON CLUB BUYERS MAY NOW BE ANY AGE! NO 55+YRS LIMITATION LIKE OTHER VILLAGE GREEN CONDOS. LOVELY 2 BEDROOM, 2 BATH, FURNISHED, SECOND FLOOR CONDO WITH ELEVATOR. DETACHED CARPORT AND GUEST PARKING SPACES. LOCATED IN THE HEART OF OLDE NAPLES. ACROSS THE STREET FROM THE COMMUNITY POOL AND CLUBHOUSE. A GREAT BUY FOR BUYERS WHO WANT TO BE CLOSE TO THE BEACH, NAPLES PIER, 3RD STREET SHOPS AND RESTAURANTS. LOWEST PRICE UNIT IN THE BUILDING!

21. 2010-09-17
    listed $225,000 440-char remark

    Show marketing remark (440 chars)

    HERON CLUB BUYERS MAY NOW BE ANY AGE! NO 55+YRS LIMITATION LIKE OTHER VILLAGE GREEN CONDOS. LOVELY 2 BEDROOM, 2 BATH, FURNISHED, SECOND FLOOR CONDO WITH ELEVATOR. DETACHED CARPORT AND GUEST PARKING SPACES. LOCATED IN THE HEART OF OLDE NAPLES. ACROSS THE STREET FROM THE COMMUNITY POOL AND CLUBHOUSE. A GREAT BUY FOR BUYERS WHO WANT TO BE CLOSE TO THE BEACH, NAPLES PIER, 3RD STREET SHOPS AND RESTAURANTS. LOWEST PRICE UNIT IN THE BUILDING!

22. 2009-02-10
    listed $240,000
23. 1998-05-19
    soldstatus $97,000

ⓘ 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: $4,613 · $384/mo
• Projected year-2 tax: $4,648 · $387/mo
• Expected delta: +$35/yr (+$3/mo · 0.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,209
• − Mortgage interest: −$31,369
• − Property taxes: −$4,613
• − Insurance: −$7,918
• − Repairs & maintenance: −$4,897
• − Management: −$4,897
• − HOA: −$8,760
• − Depreciation: −$16,291
• Taxable loss: −$17,536
• Est. tax savings @ 24.0%: +$4,209
• After-tax cash flow: $-3,968/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: Collier
• NCES district ID: 1200330
• Math proficiency: 60% ▼ -4.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $58,275
• Composite: 50.23/100
• National rank: #1892
• State rank: #16 of 73 in FL

Livability — Naples

• Score: 80/100
• State rank: #126
• US rank: #1903

Category grades

Amenities A+ Commute D+ Cost of living F Crime A+ Employment A+ Housing C+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Naples, FL
• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 11,179
• Household income: $130,929
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 333.0

Population outlook (Collier County) Hauer SSP2

• Today (2025): 420,858 people
• By 2030: 450,054 · +6.9%
• By 2040: 502,232 · +19.3%
• By 2050: 544,932 · +29.5%
• By 2075: 627,203 · +49.0%
• By 2100: 659,015 · +56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 1%
• Hispanic origin (detail): Cuban 6%
• Common ancestry: Hispanic 4% Lithuanian 4% Romanian 4%
• Foreign-born: 17% · Canada, China
• Languages at home: 87% English-only · Spanish 7% French/Haitian/Cajun 4% German/W. Germanic 1%

Political lean MEDSL · Collier

• 2024 margin: Solid R (+33.1) · D 33.1% · R 66.2%
• 2008→2024 swing: -10.6pp toward R · 2008: -22.5pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+24.7 2016: R+26.0 2012: R+30.1 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.08%
• Current HPI: 328.2755
• Rent YoY: ▲ 8.75%
• Metro: Naples-Marco Island, 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

+477.3% since first listed

8 events — show timeline

• 2026-05-01 Listed $560,000 NAPLESMLS
• 2026-01-01 Rental Removed $2,600 NAPLESMLS
• 2025-07-02 Listed for Rent $2,600 NAPLESMLS
• 2011-04-18 Sold (Public Records) $210,000 Public Records
• 2011-04-18 Sold (MLS) $210,000 NAPLESMLS
• 2010-09-17 Listed $225,000 NAPLESMLS
• 2009-02-10 Listed $240,000 NAPLESMLS
• 1998-05-19 Sold (Public Records) $97,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $4,613 · -3.5% YoY. Source: county tax records.