355 Palm Dr #732 · Naples, FL 34112

$175,000

2 bd · 2.0 ba · 1,270 sqft · Condo public records · 476 Days on market

Built 1973 $1103/mo HOA · 34% of rent

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Why this score? — see what drove the C 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 +20.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 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 MLS

The Glades in downtown NAPLES! Affordable living with all the amenities! Great community for full-time residents or 3 short-term rentals a year. In the heart of Naples, this property is just minutes from beaches, shopping, and award-winning restaurants. The Glades has it all: golf, tennis, pickle ball, events, clubs, and 11 pools!!! The list goes on and on. Come make this your home away from home! 2BR 2BA unit with split Florida rooms and a nice open floor plan. Telescoping slider doors to open to your screened in Lanai, easily extending your living space out to the gorgeous Florida weather and scenery. Clean, Fresh and Turnkey all included.

Key facts

• tennis
• pickleball
• shopping

Tags

• GREAT COMMUNITY WITH GOLF
• TENNIS
• PICKLEBALL
• POOLS
• CLOSE TO BEACHES
• SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (18.7% below list).
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $142k (18.7% 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: Shadowlawn Elementary School (math 44% / reading 40%, grade F, #1,403 of 2,144 statewide, top 67%, 457 students, 72% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL).
• Zoned-school proficiency averages 41% at this address vs 58% district-wide (-17 pts) — the specific schools serving this property underperform the Collier average; the district grade overstates school quality for this exact location.
• 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 14d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,209/mo this rent would consume 55% 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 476 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $84k (32%) 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; HOA is 34% of rent.
• 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 $142,300 (18.7% 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 476 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 1.83% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 4.5

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: -32.0%
• Equity multiple: 0.01×
• Total profit: $-48,574
• Equity at exit: $26,093

10-year hold

• IRR: —
• Equity multiple: -0.83×
• Total profit: $-89,849
• Equity at exit: $15,131

Cash invested: $49,000 (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 34112

• Rents YoY: -1.7%
• Active inventory: 771
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,209 high
• Mortgage (P&I): −$918
• Tax from tax record: −$200 /mo · $2,396/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,103
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $-185

Break-even live

Break-even rent $3,443

Max offer price $142,300

Occupancy floor —

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 Reynolds Ct Unit M12 Naples, FL	2.0	2.0	1596	$2,400	$1.50	21d	1	0.07mi
96 Glades Blvd Unit 513 Naples, FL	2.0	2.0	1370	$4,500	$3.28	14d	1	0.09mi
105 Penny Ln #5 Naples, FL	2.0	2.0	1564	$2,500	$1.60	14d	1	0.11mi
364 Tern Dr #4 Naples, FL	2.0	2.0	1264	$1,800	$1.42	14d	1	0.13mi
348 Tern Dr #2 Naples, FL	2.0	2.0	1270	$1,800	$1.42	14d	1	0.14mi
348 Tern Dr Unit 4 Naples, FL	2.0	2.0	1270	$5,000	$3.94	23d	1	0.14mi
83 Glades Blvd #3 Naples, FL	2.0	2.0	1204	$5,200	$4.32	14d	1	0.18mi
306 Palm Dr #2 Naples, FL	2.0	2.0	1270	$5,200	$4.09	23d	1	0.19mi
124 Penny Ln Unit 778 Naples, FL	2.0	2.0	1532	$5,000	$3.26	14d	1	0.20mi
3608 Arctic Cir #514 Naples, FL	2.0	2.0	1250	$4,200	$3.36	23d	1	0.23mi
265 Palm Dr Unit 265-2 Naples, FL	2.0	2.0	1215	$1,499	$1.23	14d	1	0.24mi
3504 Antarctic Cir Naples, FL	2.0	2.0	1246	$3,000	$2.41	23d	1	0.26mi
3510 Antarctic Cir Unit 1 Naples, FL	2.0	2.0	1200	$2,350	$1.96	23d	1	0.27mi
159 Quails Nest Rd Unit 1084 Naples, FL	2.0	2.0	1677	$2,100	$1.25	14d	1	0.27mi
3618 Arctic Cir #3618 Naples, FL	2.0	2.0	1200	$3,450	$2.88	23d	1	0.28mi
146 Lollypop Ln #851 Naples, FL	2.0	2.0	1335	$3,750	$2.81	23d	1	0.28mi
256 Palm Dr #6 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.28mi
4069 Northlight Dr #1805 Naples, FL	2.0	2.0	1234	$3,000	$2.43	21d	1	0.29mi
4010 Ice Castle Way #7 Naples, FL	2.0	2.0	1314	$3,200	$2.44	23d	1	0.31mi
3676 Arctic Cir #112 Naples, FL	2.0	2.0	1246	$2,700	$2.17	21d	1	0.31mi
239 Palm Dr #2 Naples, FL	2.0	2.0	1215	$4,000	$3.29	14d	1	0.31mi
240 Palm Dr Unit 48-1 Naples, FL	2.0	2.0	1100	$1,800	$1.64	23d	1	0.32mi
195 Peppermint Ln #2 Naples, FL	2.0	2.0	1198	$2,600	$2.17	14d	1	0.33mi
202 Peppermint Ln #2 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.33mi
195 Peppermint Ln Unit 881 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.33mi
195 Peppermint Ln Unit 884 Naples, FL	2.0	2.0	1335	$3,800	$2.85	14d	1	0.33mi
195 Peppermint Ln Unit 4 Naples, FL	2.0	2.0	1335	$2,500	$1.87	23d	1	0.33mi
229 Palm Dr Unit 229-2 Naples, FL	2.0	2.0	1215	$4,400	$3.62	14d	1	0.33mi
2155 Great Blue Dr Naples, FL	1.0–3.0	1.0–2.0	895	$1,910	$2.13	14d	43	0.34mi
232 Palm Dr Unit 47-5 Naples, FL	2.0	2.0	1010	$2,500	$2.48	23d	1	0.34mi
3563 Antarctic Cir #2102 Naples, FL	2.0	2.0	1200	$3,800	$3.17	23d	1	0.35mi
4021 Ice Castle Way #4 Naples, FL	2.0	2.0	1246	$2,600	$2.09	14d	1	0.36mi
4040 Ice Castle Way Unit 2 Naples, FL	2.0	2.0	1246	$2,800	$2.25	23d	1	0.36mi
216 Palm Dr #5 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.37mi
3400 Frosty Way #5 Naples, FL	2.0	2.0	1284	$3,500	$2.73	14d	1	0.38mi
209 Palm Dr #1 Naples, FL	2.0	2.0	1215	$5,000	$4.12	14d	1	0.39mi
4060 Ice Castle Way #10 Naples, FL	2.0	2.0	1246	$3,600	$2.89	14d	1	0.41mi
200 Palm Dr #7 Naples, FL	2.0	2.0	1010	$1,600	$1.58	14d	1	0.41mi
4472 Beechwood Lake Dr Naples, FL	3.0	2.0	1352	$3,050	$2.26	23d	1	0.46mi
190 Palm Dr Unit 3085 Naples, FL	2.0	2.0	1251	$1,850	$1.48	14d	1	0.47mi

HOA detail condo

• Monthly dues: $1,103 · $13,236/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-03-29
   status Pending
2. 2026-03-20
   status Pending With Contingencies
3. 2025-10-15
   status Active
4. 2025-07-04
   historical
5. 2025-05-28
   price $175,000
6. 2025-03-23
   price $198,000
7. 2024-12-12
   price $228,500
8. 2024-10-15
   status Active
9. 2024-09-26
   price $245,000
10. 2024-07-01
    historical
11. 2024-05-04
    listed $259,000 Active
12. 2023-12-14
    soldstatus $255,000
13. 2023-12-11
    soldstatus $255,000 Sold 649-char remark

    Show marketing remark (649 chars)

    The Glades in downtown NAPLES! Affordable living with all the amenities! Great community for full-time residents or 3 short-term rentals a year. In the heart of Naples, this property is just minutes from beaches, shopping, and award-winning restaurants. The Glades has it all: golf, tennis, pickle ball, events, clubs, and 11 pools!!! The list goes on and on. Come make this your home away from home! 2BR 2BA unit with split Florida rooms and a nice open floor plan. Telescoping slider doors to open to your screened in Lanai, easily extending your living space out to the gorgeous Florida weather and scenery. Clean, Fresh and Turnkey all included.

14. 2023-11-02
    status Pending With Contingencies 649-char remark

    Show marketing remark (649 chars)

    The Glades in downtown NAPLES! Affordable living with all the amenities! Great community for full-time residents or 3 short-term rentals a year. In the heart of Naples, this property is just minutes from beaches, shopping, and award-winning restaurants. The Glades has it all: golf, tennis, pickle ball, events, clubs, and 11 pools!!! The list goes on and on. Come make this your home away from home! 2BR 2BA unit with split Florida rooms and a nice open floor plan. Telescoping slider doors to open to your screened in Lanai, easily extending your living space out to the gorgeous Florida weather and scenery. Clean, Fresh and Turnkey all included.

15. 2023-08-17
    price $260,000 649-char remark

    Show marketing remark (649 chars)

    The Glades in downtown NAPLES! Affordable living with all the amenities! Great community for full-time residents or 3 short-term rentals a year. In the heart of Naples, this property is just minutes from beaches, shopping, and award-winning restaurants. The Glades has it all: golf, tennis, pickle ball, events, clubs, and 11 pools!!! The list goes on and on. Come make this your home away from home! 2BR 2BA unit with split Florida rooms and a nice open floor plan. Telescoping slider doors to open to your screened in Lanai, easily extending your living space out to the gorgeous Florida weather and scenery. Clean, Fresh and Turnkey all included.

16. 2022-11-29
    price $280,000 649-char remark

    Show marketing remark (649 chars)

    The Glades in downtown NAPLES! Affordable living with all the amenities! Great community for full-time residents or 3 short-term rentals a year. In the heart of Naples, this property is just minutes from beaches, shopping, and award-winning restaurants. The Glades has it all: golf, tennis, pickle ball, events, clubs, and 11 pools!!! The list goes on and on. Come make this your home away from home! 2BR 2BA unit with split Florida rooms and a nice open floor plan. Telescoping slider doors to open to your screened in Lanai, easily extending your living space out to the gorgeous Florida weather and scenery. Clean, Fresh and Turnkey all included.

17. 2022-09-15
    listed $295,000 Active 649-char remark

    Show marketing remark (649 chars)

    The Glades in downtown NAPLES! Affordable living with all the amenities! Great community for full-time residents or 3 short-term rentals a year. In the heart of Naples, this property is just minutes from beaches, shopping, and award-winning restaurants. The Glades has it all: golf, tennis, pickle ball, events, clubs, and 11 pools!!! The list goes on and on. Come make this your home away from home! 2BR 2BA unit with split Florida rooms and a nice open floor plan. Telescoping slider doors to open to your screened in Lanai, easily extending your living space out to the gorgeous Florida weather and scenery. Clean, Fresh and Turnkey all included.

18. 2016-02-22
    soldstatus $134,625
19. 2009-02-06
    soldstatus $95,000
20. 2004-12-30
    soldstatus $132,300
21. 1985-04-01
    soldstatus $48,000

ⓘ 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: $2,396 · $200/mo
• Projected year-2 tax: $2,396 · $200/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 8/10 Severe FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $38,503
• − Mortgage interest: −$9,803
• − Property taxes: −$2,396
• − Insurance: −$5,994
• − Repairs & maintenance: −$3,080
• − Management: −$3,080
• − HOA: −$13,236
• − Depreciation: −$5,091
• Taxable loss: −$4,177
• Est. tax savings @ 24.0%: +$1,003
• After-tax cash flow: $-1,219/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

Price history

+264.6% since first listed

21 events — show timeline

• 2026-03-29 Pending — NAPLESMLS
• 2026-03-20 Pending — NAPLESMLS
• 2025-10-15 Relisted — NAPLESMLS
• 2025-07-04 Listing Removed — NAPLESMLS
• 2025-05-28 Price Changed $175,000 NAPLESMLS
• 2025-03-23 Price Changed $198,000 NAPLESMLS
• 2024-12-12 Price Changed $228,500 NAPLESMLS
• 2024-10-15 Relisted — NAPLESMLS
• 2024-09-26 Price Changed $245,000 NAPLESMLS
• 2024-07-01 Listing Removed — NAPLESMLS
• 2024-05-04 Listed $259,000 NAPLESMLS
• 2023-12-14 Sold (Public Records) $255,000 Public Records
• 2023-12-11 Sold (MLS) $255,000 NAPLESMLS
• 2023-11-02 Pending — NAPLESMLS
• 2023-08-17 Price Changed $260,000 NAPLESMLS
• 2022-11-29 Price Changed $280,000 NAPLESMLS
• 2022-09-15 Listed $295,000 NAPLESMLS
• 2016-02-22 Sold (Public Records) $134,625 Public Records
• 2009-02-06 Sold (Public Records) $95,000 Public Records
• 2004-12-30 Sold (Public Records) $132,300 Public Records
• 1985-04-01 Sold (Public Records) $48,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,396 · +4.3% YoY. Source: county tax records.