200 Palm Dr · Naples, FL 34112

$248,000

2 bd · 2.0 ba · 1,010 sqft · SingleFamily · 1 Days on market

Built 1973

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Second floor unit that is such a private condo that & acirc; & euro; & trade; s very bright and cheery! On the L-shaped lanai, you have a nice canal view and the other side does not have a close building to look upon. We have barely used so it & acirc; & euro; & trade; s like everything is brand new. Furnishings recently added and new carpet in bedrooms summer of & acirc; & euro; & tilde; 24.

Key facts

• Canal view
• Private condo
• New carpet

Tags

• CANAL VIEW
• PRIVATE CONDO
• L-SHAPED LANAI
• NEW CARPET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $248k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $248k).

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.
• Market conditions: Rents soft (-1.7%/yr); 771 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,080/mo this rent would consume 53% of the median local household income ($70k/yr) (locally 980% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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

Recommended offer $248,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-30,235
• Equity at exit: $36,978

10-year hold

• IRR: -10.1%
• Equity multiple: 0.48×
• Total profit: $-35,921
• Equity at exit: $21,443

Cash invested: $69,440 (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 34112

• Rents YoY: -1.7%
• Active inventory: 771
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,080 high
• Mortgage (P&I): −$1,301
• Tax est. 1.5%: −$310 /mo · $3,720/yr
• Insurance: −$103
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $293

Break-even live

Break-even rent $2,709

Max offer price $248,000

Occupancy floor 85%

Sensitivity live

Price	-10% $465	-5% $379	+0% $293	+5% $207	+10% $122
Rent	-10% $50	-5% $171	+0% $293	+5% $415	+10% $537
Rate	-1.0pp $418	-0.5pp $356	base $293	+0.5pp $229	+1.0pp $164

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: $62,000
• Closing costs: $7,440
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Palm Dr #7 Naples, FL	2.0	2.0	1010	$1,600	$1.58	14d	1	0.01mi
216 Palm Dr #5 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.05mi
190 Palm Dr Unit 3085 Naples, FL	2.0	2.0	1251	$1,850	$1.48	14d	1	0.05mi
209 Palm Dr #1 Naples, FL	2.0	2.0	1215	$5,000	$4.12	14d	1	0.07mi
232 Palm Dr Unit 47-5 Naples, FL	2.0	2.0	1010	$2,500	$2.48	24d	1	0.08mi
229 Palm Dr Unit 229-2 Naples, FL	2.0	2.0	1215	$4,400	$3.62	14d	1	0.10mi
240 Palm Dr Unit 48-1 Naples, FL	2.0	2.0	1100	$1,800	$1.64	24d	1	0.10mi
239 Palm Dr #2 Naples, FL	2.0	2.0	1215	$4,000	$3.29	14d	1	0.11mi
256 Palm Dr #6 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.14mi
154 Palm Dr Unit 1049699P Naples, FL	2.0	2.0	1248	$2,732	$2.19	22d	1	0.14mi
131 Teryl Rd Unit C3 Naples, FL	2.0	2.0	1080	$3,495	$3.24	24d	1	0.16mi
131 Teryl Rd Unit 3UNIT 3 Naples, FL	2.0	2.0	1080	$1,750	$1.62	14d	1	0.16mi
149 Palm Dr Unit 8617 Naples, FL	2.0	2.0	981	$2,000	$2.04	14d	1	0.17mi
265 Palm Dr Unit 265-2 Naples, FL	2.0	2.0	1215	$1,499	$1.23	14d	1	0.18mi
135 Palm Dr #12 Naples, FL	2.0	2.0	1180	$2,200	$1.86	14d	1	0.19mi
159 Teryl Rd #2 Naples, FL	2.0	2.0	1080	$5,200	$4.81	14d	1	0.19mi
146 Lollypop Ln #851 Naples, FL	2.0	2.0	1335	$3,750	$2.81	24d	1	0.20mi
195 Peppermint Ln Unit 884 Naples, FL	2.0	2.0	1335	$3,800	$2.85	14d	1	0.22mi
202 Peppermint Ln #2 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.22mi
195 Peppermint Ln Unit 4 Naples, FL	2.0	2.0	1335	$2,500	$1.87	24d	1	0.22mi
195 Peppermint Ln #2 Naples, FL	2.0	2.0	1198	$2,600	$2.17	14d	1	0.22mi
195 Peppermint Ln Unit 881 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.22mi
162 Teryl Rd Unit 6-2 Naples, FL	2.0	2.0	1188	$2,500	$2.10	24d	1	0.22mi
306 Palm Dr #2 Naples, FL	2.0	2.0	1270	$5,200	$4.09	24d	1	0.23mi
348 Tern Dr Unit 4 Naples, FL	2.0	2.0	1270	$5,000	$3.94	24d	1	0.34mi
348 Tern Dr #2 Naples, FL	2.0	2.0	1270	$1,800	$1.42	14d	1	0.34mi
3350 Putney Ct Naples, FL	1.0–3.0	1.0–2.0	1038	$2,986	$2.88	14d	26	0.38mi
364 Tern Dr #4 Naples, FL	2.0	2.0	1264	$1,800	$1.42	14d	1	0.39mi
2155 Great Blue Dr Naples, FL	1.0–3.0	1.0–2.0	895	$1,910	$2.13	14d	43	0.41mi
581 Teryl Rd #5 Naples, FL	2.0	2.0	1403	$4,500	$3.21	14d	1	0.42mi
432 Teryl Rd Unit 1546319P Naples, FL	2.0	2.0	1496	$1,561	$1.04	14d	1	0.42mi
3005 Gordon St Naples, FL	3.0	2.0	967	$2,275	$2.35	14d	1	0.45mi
3005 Gordon St Naples, FL	3.0	2.0	967	$2,275	$2.35	24d	1	0.45mi
96 Glades Blvd Unit 513 Naples, FL	2.0	2.0	1370	$4,500	$3.28	14d	1	0.46mi
83 Glades Blvd #3 Naples, FL	2.0	2.0	1204	$5,200	$4.32	14d	1	0.54mi
4472 Beechwood Lake Dr Naples, FL	3.0	2.0	1352	$3,050	$2.26	24d	1	0.55mi
3608 Arctic Cir #514 Naples, FL	2.0	2.0	1250	$4,200	$3.36	24d	1	0.57mi
2347 Bayside St Apt B Naples, FL	2.0	1.0	864	$1,595	$1.85	14d	1	0.58mi
3676 Arctic Cir #112 Naples, FL	2.0	2.0	1246	$2,700	$2.17	22d	1	0.61mi
3618 Arctic Cir #3618 Naples, FL	2.0	2.0	1200	$3,450	$2.88	24d	1	0.61mi

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $36,966
• − Mortgage interest: −$13,892
• − Property taxes: −$3,720
• − Insurance: −$6,358
• − Repairs & maintenance: −$2,957
• − Management: −$2,957
• − Depreciation: −$7,215
• Taxable loss: −$134
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $3,550/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

• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 27,193
• Household income: $69,842
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 980.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 9% Black 6% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 4% Romanian 3% Portuguese 2%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 17% 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: ▼ -235.10%
• Current HPI: 256.9182
• Rent YoY: ▼ -1.69%
• 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