1200 Cherrystone Ct Unit B209 · Naples, FL 34102

$425,000

2 bd · 2.0 ba · 1,276 sqft · Condo public records · 581 Days on market

Built 1974 $745/mo HOA · 14% 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 +21.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +7.0/10.0
• DSCR +6.7/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0

Listing remarks

NEW DEEDED BOAT DOCK with Royal Harbor condo for $425K! Amazing price point for this area of town! Condo comes with a brand new 30' deeded boat dock with direct access and no bridges to Naples Bay! Perfect for a permanent home, a peaceful escape, or use for investment purposes. This is your chance to own in a prime Naples neighborhood and wake up to your own peaceful waterfront backyard with your boat parked right below you! Captivating eastern exposure water view from your master bedroom and screened lanai overlooking the tranquil canal as well as a short stroll or bike ride to 5th Avenue. This 55+ community offers endless days of serene laid-back living with a community pool and grill are

Key facts

• Waterfront oasis
• $745 HOA
• Garage

Tags

• WATERFRONT OASIS
• DEEDED PRIVATE BOAT DOCK
• DIRECT ACCESS TO NAPLES BAY
• COMMUNITY POOL AND GRILL AREA

Property features AI

Finance

• Other: Gulf access with no bridges and dock deeded; canal width approximately 31–80 ft; View of canal and landscaped area; Dock deeded; Irrigation: central; Property measures listed by Property Appraiser Office; Architectural and deeded restrictions; limits on number of vehicles and no RVs allowed
• HOA & community: Quarterly condo fee; Professional management; Community amenities include bike storage, community pool, community room, and internet access; Community type: boating, non-gated; Maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserves, street lights, trash removal, and water; Total annual recurring fees listed; One-time fees applicable

Exterior

• Parking: 1 assigned parking space; Driveway parking (paved); Guest parking (paved)
• Security: Streetlight
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in Oyster Bay (Cherrystone Court); Low-rise (1–3) traditional design; 2-story building; Rear exposure faces east; Located on a cul-de-sac (Unit 209)
• Construction: Concrete block construction; Built in 1974; Built-up/flat and shingle roof
• Exterior features: Outdoor shower; Automatic sprinkler system; Private below-ground pool (electric heated; equipment stays); Double hung and sliding windows; Stucco finish

Interior

• Kitchen: Electric cooktop; Self-cleaning oven; Dishwasher; Microwave; Refrigerator/ice maker; Disposal
• Bedrooms: 2 bedrooms with a split-bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Cable prewire; High-speed internet available; Dining area in living room; Guest bath; Guest room; Laundry in residence; Screened lanai/porch; Furnished; 4 ceiling fans; Smoke detector
• Laundry & utility: Washer and dryer included; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents rising fast (+8.8%/yr); 614 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $5,189/mo this rent would consume 48% 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 $20k of equity ($3k loan paydown + $17k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.1% appreciation + 8.0% rent growth), your $119k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 581 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $243k; list at $425k implies a 75% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 581 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 1974 — 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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 1.22% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 6.8

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: 15.4%
• Equity multiple: 1.97×
• Total profit: $115,011
• Equity at exit: $217,559

10-year hold

• IRR: 19.4%
• Equity multiple: 4.50×
• Total profit: $417,008
• Equity at exit: $357,502

Cash invested: $119,000 (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: 614
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $5,189 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$352 /mo · $4,226/yr
• Insurance: −$177
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$745
• Vacancy / Maint / Mgmt: −$1,090
• Net cashflow: $170

Break-even live

Break-even rent $4,974

Max offer price $425,000

Occupancy floor 92%

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Cherrystone Ct Unit A203 Naples, FL	2.0	2.0	1276	$4,950	$3.88	23d	1	0.04mi
1186 Cherrystone Ct Naples, FL	2.0	2.0	1163	$1,995	$1.72	23d	1	0.05mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	13d	1	0.06mi
1165 Clam Ct #7 Naples, FL	2.0	2.5	1449	$2,900	$2.00	23d	1	0.08mi
1686 Blue Point Ave Unit B1 Naples, FL	2.0	2.0	1198	$6,500	$5.43	23d	1	0.09mi
1686 Blue Point Ave Naples, FL	2.0	2.0	1057	$5,500	$5.20	13d	2	0.09mi
1535 Chesapeake Ave Unit A2 Naples, FL	2.0	2.0	1080	$2,000	$1.85	23d	1	0.11mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$4,050	$3.81	23d	2	0.11mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$3,950	$3.72	21d	3	0.11mi
1501 Chesapeake Ave Unit 1296210P Naples, FL	2.0	2.0	1377	$4,110	$2.98	13d	1	0.11mi
1625 Chesapeake Ave #203 Naples, FL	2.0	2.0	1200	$4,500	$3.75	23d	1	0.12mi
1495 Blue Point Ave Unit C Naples, FL	2.0	2.5	1529	$12,000	$7.85	23d	1	0.12mi
985 Sandpiper St Unit 1I-204 Naples, FL	3.0	2.0	1769	$4,850	$2.74	23d	1	0.13mi
1666 Osprey Ave #203 Naples, FL	2.0	2.0	1200	$7,000	$5.83	23d	1	0.15mi
1400 Blue Point Ave #104 Naples, FL	2.0	2.0	1550	$2,900	$1.87	23d	1	0.16mi
1589 Osprey Ave Naples, FL	3.0	2.0	1868	$3,950	$2.11	23d	1	0.19mi
1589 Osprey Ave Naples, FL	3.0	2.0	1868	$3,750	$2.01	13d	1	0.19mi
1437 Sandpiper St Naples, FL	3.0	2.0	1200	$16,000	$13.33	23d	1	0.20mi
1353 Pelican Ave Naples, FL	2.0	2.0	1203	$8,500	$7.07	23d	1	0.22mi
1376 Chesapeake Ave #2 Naples, FL	2.0	2.0	1218	$2,300	$1.89	23d	1	0.22mi
1120 Little Neck Ct Unit E40 Naples, FL	3.0	2.0	1400	$2,999	$2.14	23d	1	0.22mi
1600 Curlew Ave Naples, FL	3.0	2.0	1817	$20,000	$11.01	23d	1	0.23mi
12 Knights Bridge Rd Unit A32 Naples, FL	2.0	2.0	1095	$3,200	$2.92	21d	1	0.27mi
1549 Sandpiper St #36 Naples, FL	2.0	2.0	1073	$2,195	$2.05	23d	1	0.28mi
1501 Curlew Ave Naples, FL	2.0	1.0	1180	$2,000	$1.69	23d	1	0.28mi
9 Knights Bridge Rd #30 Naples, FL	2.0	2.0	1296	$3,000	$2.31	13d	1	0.28mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	23d	1	0.31mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.31mi
1950 Mayfair ST Unit 923 Naples, FL	2.0	2.0	1142	$4,490	$3.93	13d	1	0.31mi
1950 Mayfair ST Unit 818 Naples, FL	2.0	2.0	1142	$4,415	$3.87	13d	1	0.31mi
1950 Mayfair ST Unit 901 Naples, FL	2.0	2.0	1025	$4,560	$4.45	13d	1	0.31mi
1950 Mayfair ST Unit 1027 Naples, FL	1.0	1.0	888	$3,525	$3.97	13d	1	0.31mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	23d	1	0.33mi
24 Rivard Rd Naples, FL	3.0	2.0	1314	$6,500	$4.95	23d	1	0.33mi
1950 Mayfair St Naples, FL	3.0	1.0–3.5	1514	$8,752	$5.78	13d	109	0.36mi
105 Georgetown Blvd #105 Naples, FL	2.0	2.0	1450	$6,500	$4.48	23d	1	0.39mi
69 Georgetown Blvd #69 Naples, FL	2.0	2.0	1450	$5,500	$3.79	23d	1	0.42mi
91 Georgetown Blvd #91 Naples, FL	2.0	2.0	1450	$7,000	$4.83	23d	1	0.42mi
1747 Sandpiper St Unit B Naples, FL	3.0	2.0	1800	$9,000	$5.00	21d	1	0.44mi
84 Georgetown Blvd #84 Naples, FL	2.0	2.0	1450	$5,500	$3.79	23d	1	0.46mi

HOA detail condo

• Monthly dues: $745 · $8,940/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $425,000 Active 581 DOM
2. 2026-06-17
   days on market $425,000 Active 580 DOM
3. 2026-06-16
   days on market $425,000 Active 579 DOM
4. 2026-06-15
   days on market $425,000 Active 578 DOM
5. 2026-06-10
   days on market $425,000 Active 573 DOM
6. 2026-06-09
   days on market $425,000 Active 572 DOM
7. 2026-06-08
   days on market $425,000 Active 571 DOM
8. 2026-06-07
   days on market $425,000 Active 570 DOM
9. 2026-06-02
   days on market $425,000 Active 565 DOM
10. 2026-06-01
    days on market $425,000 Active 564 DOM
11. 2026-05-31
    days on market $425,000 Active 563 DOM
12. 2026-05-30
    days on market $425,000 Active 562 DOM
13. 2026-01-12
    price $425,000
14. 2025-09-30
    price $460,000
15. 2025-04-10
    price $499,000
16. 2024-11-14
    listed $525,000 Active
17. 2002-03-28
    soldstatus $243,000
18. 2000-04-10
    soldstatus $139,000
19. 1998-11-04
    soldstatus $122,000
20. 1993-12-31
    soldstatus $219,000
21. 1993-12-14
    soldstatus $112,000
22. 1993-12-01
    soldstatus $112,000

ⓘ 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: $4,226 · $352/mo
• Projected year-2 tax: $4,226 · $352/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $62,271
• − Mortgage interest: −$23,807
• − Property taxes: −$4,226
• − Insurance: −$7,244
• − Repairs & maintenance: −$4,982
• − Management: −$4,982
• − HOA: −$8,940
• − Depreciation: −$12,364
• Taxable loss: −$4,272
• Est. tax savings @ 24.0%: +$1,025
• After-tax cash flow: $3,065/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)

No district data.

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

+279.5% since first listed

10 events — show timeline

• 2026-01-12 Price Changed $425,000 NAPLESMLS
• 2025-09-30 Price Changed $460,000 NAPLESMLS
• 2025-04-10 Price Changed $499,000 NAPLESMLS
• 2024-11-14 Listed $525,000 NAPLESMLS
• 2002-03-28 Sold (Public Records) $243,000 Public Records
• 2000-04-10 Sold (Public Records) $139,000 Public Records
• 1998-11-04 Sold (Public Records) $122,000 Public Records
• 1993-12-31 Sold (Public Records) $219,000 Public Records
• 1993-12-14 Sold (Public Records) $112,000 Public Records
• 1993-12-01 Sold (Public Records) $112,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $4,226 · +4.2% YoY. Source: county tax records.