5501 Rattlesnake Hamm Rd #1301 · Lely Resort, FL 34113

$219,000

2 bd · 2.0 ba · 1,031 sqft · Condo · 152 Days on market

Built 1986 $541/mo HOA · 13% of rent ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ideally located just steps from the community pool, this MOVE-IN READY 2 BEDROOM, 2 BATH FIRST FLOOR CONDO offers 1,031 sq ft under air and is nestled within the intimate Marwood community. Tranquil pool views enhance the bright interior, featuring new flooring throughout the living and dining areas and a sliding glass door that opens to a spacious screened, tiled lanai—perfect for entertaining or relaxing in Naples’ warm climate. The kitchen is well appointed with ample cabinetry, solid-surface countertops, a tasteful backsplash, and brand-new stainless steel appliances. Both bedrooms are generously sized with full baths, and the primary suite offers direct access to the lanai.

Key facts

• New hot water heater
• New a/c compressor
• $541 HOA

Tags

• SPACIOUS SCREENED LANAI
• SOLID-SURFACE COUNTERTOPS
• DIRECT ACCESS TO THE LANAI
• NEW HOT WATER HEATER
• NEW A/C COMPRESSOR
• NEW PRIVATE WASHER AND DRYER

Property features AI

Finance

• Other: 1 unit per floor; 4 units in the building; 28 units in the complex; 2.0 acres total
• HOA & community: Mandatory HOA; Quarterly condo fee of $1,624 (total annual recurring fees $6,496); Professional management; HOA maintenance covers insurance, lawn/land maintenance, legal/accounting, reserves, street maintenance, trash removal, and water; Community amenities include a play area; community is non-gated

Exterior

• Parking: 1 assigned parking space
• Security: Streetlight in community
• Utilities: Central water (assessments paid); Central sewer (assessments paid); Cable available
• Home design: Residential property; Garden apartment in a low-rise (1–3) building; Built in 1986; Rear exposure faces west; Stucco exterior; Single-hung windows
• Construction: Concrete block construction; Shingle roof; Built in 1986
• Exterior features: Patio; Oversize lot; Pool/Club and preserve views; Canal waterfront

Interior

• Kitchen: Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator/freezer
• Bedrooms: 2 bedrooms; Master bedroom on the ground level; Split bedroom floor plan
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with combo tub and shower
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Built-in cabinets; High-speed internet available; Dining area open to family room; Screened lanai/porch
• Laundry & utility: Washer and dryer inside the residence; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#786 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; Watch: health & safety D, schools F, amenities 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 rising fast (+5.6%/yr); 597 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 $4,296/mo this rent would consume 63% of the median local household income ($82k/yr) (locally 954% 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $61k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Recommended offer $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.96% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.21%
• DSCR: 2.17
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.01×
• Total profit: $61,685
• Equity at exit: $32,654

10-year hold

• IRR: 33.3%
• Equity multiple: 4.50×
• Total profit: $214,850
• Equity at exit: $18,935

Cash invested: $61,320 (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 34113

• Rents YoY: 5.6%
• Active inventory: 597
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $4,296 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$541
• Vacancy / Maint / Mgmt: −$902
• Net cashflow: $1,339

Break-even live

Break-even rent $2,601

Max offer price $219,000

Occupancy floor 64%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9022 Michael Cir Unit 2-205 Naples, FL	2.0	2.0	1450	$3,500	$2.41	23d	1	0.37mi
24 Cheyenne Trl Naples, FL	2.0	2.0	888	$3,500	$3.94	14d	1	0.66mi
9175 Celeste Dr Unit 105 Naples, FL	2.0	2.0	1000	$2,000	$2.00	23d	1	0.76mi
9187 Celeste Dr Unit 1073494P Naples, FL	2.0	2.0	1399	$2,979	$2.13	14d	1	0.76mi
8161 Twelve Oaks Cir #512 Naples, FL	2.0	2.0	1066	$5,000	$4.69	23d	1	0.77mi
9165 Celeste Dr Unit 3-303 Naples, FL	2.0	2.0	1000	$6,500	$6.50	23d	1	0.77mi
6590 Beach Resort Dr Unit 305 Naples, FL	2.0	2.0	1351	$4,500	$3.33	14d	1	0.85mi
11496 Sumter Grove Cir Naples, FL	1.0–2.0	1.0–2.0	1067	$2,134	$2.00	14d	14	0.93mi
1435 Santiago Cir #2003 Naples, FL	3.0	2.5	1315	$2,600	$1.98	23d	1	0.94mi
9092 Chula Vista St #11003 Naples, FL	2.0	2.0	1404	$6,850	$4.88	23d	1	0.96mi
9088 Chula Vista St Unit 108-3 Naples, FL	2.0	2.0	1404	$5,700	$4.06	23d	1	0.97mi
9115 Capistrano St S #8207 Naples, FL	2.0	2.5	1494	$6,000	$4.02	23d	1	0.98mi
9111 Capistrano St S #8303 Naples, FL	2.0	2.5	1432	$7,500	$5.24	23d	1	1.00mi
6650 Beach Resort Dr Unit 908 Naples, FL	2.0	2.0	1351	$4,600	$3.40	14d	1	1.07mi
9081 Albion Ln S #6505 Naples, FL	2.0	2.0	1225	$7,500	$6.12	23d	1	1.09mi
6750 Beach Resort Dr #7 Naples, FL	2.0	2.0	1351	$3,900	$2.89	23d	1	1.11mi
6750 Beach Resort Dr Naples, FL	2.0	2.0	1351	$3,200	$2.37	14d	2	1.11mi
9071 Albion Ln N #5706 Naples, FL	2.0	2.5	1441	$2,200	$1.53	23d	1	1.15mi
9082 Capistrano St N Unit 48-5 Naples, FL	2.0	2.0	1227	$6,500	$5.30	23d	1	1.15mi
6680 Beach Resort Dr Unit 1214 Naples, FL	2.0	2.0	1351	$4,500	$3.33	14d	1	1.22mi
7955 Mahogany Run Ln #515 Naples, FL	2.0	2.0	1244	$8,925	$7.17	23d	1	1.27mi
7955 Mahogany Run Ln Unit 1504173P Naples, FL	3.0	2.0	1442	$5,840	$4.05	14d	1	1.27mi
9054 Capistrano St N #4003 Naples, FL	2.0	2.0	1385	$2,495	$1.80	23d	1	1.28mi
8175 Celeste Dr Naples, FL	2.0	2.0	1460	$2,395	$1.64	23d	1	1.30mi
8175 Celeste Dr #1230 Naples, FL	2.0	2.0	1476	$2,775	$1.88	23d	1	1.30mi
5296 Treetops Dr Unit 5296 Naples, FL	2.0	2.0	866	$1,495	$1.73	23d	1	1.31mi
8135 Celeste Dr #4218 Naples, FL	2.0	2.0	1476	$7,500	$5.08	23d	1	1.32mi
7925 Mahogany Run Ln #924 Naples, FL	2.0	2.0	1389	$8,925	$6.43	23d	1	1.32mi
7940 Mahogany Run Ln #623 Naples, FL	2.0	2.0	1389	$8,000	$5.76	23d	1	1.32mi
5339 Treetops Dr Unit 5339 Naples, FL	2.0	2.0	806	$2,250	$2.79	23d	1	1.34mi
1252 Henderson Creek Dr Naples, FL	2.0	1.5	820	$1,895	$2.31	23d	1	1.34mi
7930 Mahogany Run Ln Unit 1504168P Naples, FL	2.0	2.0	1237	$4,495	$3.63	14d	1	1.34mi
7930 Mahogany Run Ln Unit 1504165P Naples, FL	2.0	2.0	1237	$4,053	$3.28	14d	1	1.34mi
7930 Mahogany Run Ln #826 Naples, FL	3.0	2.0	1454	$9,450	$6.50	23d	1	1.34mi
7920 Mahogany Run Ln #1011 Naples, FL	3.0	2.0	1454	$10,395	$7.15	23d	1	1.36mi
5254 Treetops Dr Naples, FL	2.0	2.0	878	$1,700	$1.94	23d	1	1.36mi
5361 Treetops Dr Naples, FL	2.0	2.0	806	$1,600	$1.99	21d	1	1.36mi
5300 Treetops Dr Unit I206 Naples, FL	2.0	2.0	878	$1,850	$2.11	23d	1	1.36mi
5294 Treetops Dr Unit I203 Naples, FL	2.0	2.0	866	$1,600	$1.85	14d	1	1.36mi
5300 Treetops Dr Unit 206 Naples, FL	2.0	2.0	866	$1,750	$2.02	23d	1	1.36mi

HOA detail condo

• Monthly dues: $541 · $6,492/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-17
   days on market $219,000 Active 152 DOM
2. 2026-06-16
   days on market $219,000 Active 151 DOM
3. 2026-06-15
   days on market $219,000 Active 150 DOM
4. 2026-06-14
   days on market $219,000 Active 148 DOM
5. 2026-06-10
   days on market $219,000 Active 145 DOM
6. 2026-06-09
   days on market $219,000 Active 144 DOM
7. 2026-06-08
   days on market $219,000 Active 143 DOM
8. 2026-06-07
   days on market $219,000 Active 142 DOM
9. 2026-06-03
   days on market $219,000 Active 138 DOM
10. 2026-06-02
    days on market $219,000 Active 137 DOM
11. 2026-06-01
    days on market $219,000 Active 136 DOM
12. 2026-05-31
    days on market $219,000 Active 135 DOM
13. 2026-05-30
    remarks 687-char remark
14. 2026-05-30
    listed $219,000 Active 134 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $51,549
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$4,124
• − Management: −$4,124
• − HOA: −$6,492
• − Depreciation: −$6,371
• Taxable income: $13,791
• Est. tax owed @ 24.0%: −$3,310
• After-tax cash flow: $12,760/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 — Lely Resort

• Score: 61/100
• State rank: #786
• US rank: #17981

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,056
• Household income: $81,674
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 954.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 10% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Vietnam
• Languages at home: 63% English-only · Spanish 24% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -194.86%
• Current HPI: 279.4232
• Rent YoY: ▲ 5.59%
• 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

-8.4% since first listed

3 events — show timeline

• 2026-03-09 Price Changed $219,000 BEARMLS
• 2026-01-26 Price Changed $229,000 BEARMLS
• 2026-01-16 Listed $239,000 BEARMLS