517 Lake Louise Cir #201 · Bonita Springs, FL 34110

$339,999

2 bd · 2.0 ba · 1,550 sqft · Condo public records · 113 Days on market

Built 1984 $806/mo HOA · 16% 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 +26.3/30.0
• 1% rule +9.4/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 2-bedroom plus den, 2-bath home located west of US-41, just minutes from the white sandy beaches of Naples and Bonita Springs. Perfectly positioned to enjoy the best of Southwest Florida living, this property offers incredible potential for investors, seasonal residents, or buyers looking to add their personal touch. Featuring an open-concept floor plan filled with natural light throughout, the spacious living area opens seamlessly into the lanai, creating an airy, flexible space ideal for entertaining. The layout offers versatility while maintaining defined yet connected living spaces. Both bathrooms have been partially updated, and the home includes a detached

Key facts

• Large lanai
• Detached garage
• $806 HOA

Tags

• OPEN-CONCEPT FLOOR PLAN
• DETACHED GARAGE
• ELECTRIC HURRICANE SHUTTERS
• LARGE LANAI
• WESTERN-FACING LAKE VIEWS
• GUARD-GATED COMMUNITY

Property features AI

Finance

• HOA & community: Mandatory HOA (professional management); Quarterly condo fee; Condo fee: $2,419 quarterly (total annual recurring fees $9,676); One-time fees: $150; HOA maintenance includes insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, master association fee, exterior pest control, reserves, security, street lights, and water; Community amenities: community pool, spa/hot tub, tennis court, BBQ/picnic, bike and jog paths, sidewalks, streetlights, internet access; Gated community

Exterior

• Parking: 1 assigned parking space; Guest parking available; Detached 1-car garage
• Security: Patrolled community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise (1-3 stories), end unit; Built in 1984; Rear exposure facing west; Located in the RETREAT development
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Single-hung and sliding windows
• Exterior features: Patio; Lake view; Has waterfront: lake; Reclaimed irrigation; Paved road; Regular lot

Interior

• Kitchen: Cooktop (electric); Range; Microwave; Dishwasher; Refrigerator; Pantry; Eat-in kitchen; Dining area open to living
• Bedrooms: 2 bedrooms plus den; Split bedroom floor plan
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; Master bath with combo tub and shower
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: High-speed internet available; Walk-in closet; Pantry; Den (study); Laundry in residence; Screened balcony/lanai/porch; Unfurnished
• Laundry & utility: Washer; Dryer; Auto garage door opener

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $309k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• 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 (-1.1%/yr); 595 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $4,895/mo this rent would consume 60% of the median local household income ($98k/yr) (locally 1006% 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 $10k 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 113 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $93k; list at $340k implies a 266% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→33/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $309,399 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.08%
• DSCR: 1.49
• GRM: 5.8

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: -6.7%
• Equity multiple: 0.76×
• Total profit: $-22,569
• Equity at exit: $50,695

10-year hold

• IRR: -2.5%
• Equity multiple: 0.86×
• Total profit: $-13,184
• Equity at exit: $29,397

Cash invested: $95,200 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $4,895 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$257 /mo · $3,084/yr
• Insurance: −$142
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$806
• Vacancy / Maint / Mgmt: −$1,028
• Net cashflow: $727

Break-even live

Break-even rent $3,974

Max offer price $339,999

Occupancy floor 80%

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	23d	1	0.03mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.07mi
14780 Glen Eden Dr Naples, FL	3.0	2.5	2184	$8,000	$3.66	23d	1	0.19mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	23d	1	0.22mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	23d	1	0.24mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	23d	1	0.27mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	23d	1	0.27mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	23d	1	0.36mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	23d	2	0.45mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	23d	1	0.48mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	23d	3	0.48mi
15191 Cedarwood Ln #2602 Naples, FL	2.0	2.0	1267	$2,300	$1.82	23d	1	0.50mi
290 Naples Cove Dr Naples, FL	2.0	2.0	1327	$3,400	$2.56	23d	3	0.52mi
285 Naples Cove Dr #1103 Naples, FL	2.0	2.0	1267	$2,475	$1.95	23d	1	0.57mi
270 Naples Cove Dr #3506 Naples, FL	3.0	2.0	1475	$2,500	$1.69	21d	1	0.58mi
15400 Cedarwood Ln Unit 1-201 Naples, FL	2.0	2.0	1286	$6,000	$4.67	23d	1	0.58mi
15400 Cedarwood Ln #102 Naples, FL	2.0	2.0	1286	$6,300	$4.90	14d	1	0.58mi
15415 Cedarwood Ln Unit 3 Naples, FL	2.0	2.0	1428	$2,200	$1.54	14d	1	0.63mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	14d	1	0.64mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	23d	1	0.73mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	14d	4	0.73mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	23d	1	0.75mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	23d	1	0.77mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	23d	1	0.78mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	23d	1	0.81mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	14d	1	0.82mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	14d	1	0.91mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	23d	1	0.91mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	23d	1	0.92mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	23d	1	0.92mi
28940 Bermuda Pointe Cir #102 Bonita Springs, FL	2.0	2.0	1076	$5,500	$5.11	23d	1	0.92mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	23d	1	0.95mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	23d	1	0.95mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	23d	1	0.95mi
1680 Sanctuary Pointe Ct Naples, FL	3.0	2.0	1888	$5,900	$3.12	23d	1	0.97mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	23d	1	0.98mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	23d	2	0.99mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	23d	1	1.00mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	14d	1	1.00mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	23d	1	1.00mi

HOA detail condo

• Monthly dues: $806 · $9,672/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $339,999 Active 113 DOM
2. 2026-06-17
   days on market $339,999 Active 112 DOM
3. 2026-06-16
   days on market $339,999 Active 111 DOM
4. 2026-06-15
   days on market $339,999 Active 110 DOM
5. 2026-06-14
   days on market $339,999 Active 108 DOM
6. 2026-06-10
   days on market $339,999 Active 105 DOM
7. 2026-06-09
   days on market $339,999 Active 104 DOM
8. 2026-06-08
   days on market $339,999 Active 103 DOM
9. 2026-06-07
   days on market $339,999 Active 102 DOM
10. 2026-06-03
    days on market $339,999 Active 98 DOM
11. 2026-06-02
    days on market $339,999 Active 97 DOM
12. 2026-06-01
    days on market $339,999 Active 96 DOM
13. 2026-05-31
    days on market $339,999 Active 95 DOM
14. 2026-05-30
    days on market $339,999 Active 94 DOM
15. 2026-02-25
    listed $339,999 Active
16. 1993-12-16
    soldstatus $93,000

ⓘ 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: $3,084 · $257/mo
• Projected year-2 tax: $3,084 · $257/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 7/10 Severe FEMA zone AH · 73% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 33 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,736
• − Mortgage interest: −$19,045
• − Property taxes: −$3,084
• − Insurance: −$3,524
• − Repairs & maintenance: −$4,699
• − Management: −$4,699
• − HOA: −$9,672
• − Depreciation: −$9,891
• Taxable income: $4,122
• Est. tax owed @ 24.0%: −$989
• After-tax cash flow: $7,736/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• City population: 64,727
• Metro: Naples-Marco Island, FL
• Population (ZIP): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+265.6% since first listed

2 events — show timeline

• 2026-02-25 Listed $339,999 NAPLESMLS
• 1993-12-16 Sold (Public Records) $93,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $3,084 · +148.0% YoY. Source: county tax records.