2 Monaco Ter · Lely, FL 34112

$109,900

2 bd · 2.0 ba · 684 sqft · Manufactured public records · 120 Days on market

Built 1968 8,276 sqft lot $142/mo HOA · 6% 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 +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
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

Key facts

• 8,276 sq ft lot
• Garage
• Community pool

Property features AI

Finance

• Other: Single-unit property in a complex of about 200 units; One floor in the building; Possession at closing
• HOA & community: Mandatory HOA; HOA fee $142 monthly; On-site management with manager; Community amenities include clubhouse, community pool, shuffleboard, and underground utilities; Non-gated community; Total annual recurring HOA fees $1,704; Total one-time fees $750

Exterior

• Parking: Paved driveway; Attached 1-space carport
• Utilities: Water assessment paid; Sewer assessment paid; Electric service (central)
• Home design: Residential manufactured home; Manufactured building design; One story; Rear exposure facing north; Located in the Riviera Colony community
• Construction: Built in 1968; Manufactured construction
• Exterior features: Rolled roof; Single-hung windows; Shutters; Aluminum siding; Landscaped area view; County-maintained road; Regular lot

Interior

• Kitchen: Microwave; Refrigerator; Self-cleaning oven
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning; Cable available
• Interior features: Cable prewire; Multiple phone lines; Window coverings; Eat-in kitchen; Great room floor plan; Laundry in residence; Furnished
• Laundry & utility: Laundry inside the residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D+, health & safety D, 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 soft (-1.7%/yr); 771 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $68k; list at $110k implies a 63% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 2.13% ✓
• Cap rate: 17.61%
• Cash-on-cash: 40.42%
• DSCR: 2.80
• GRM: 3.9

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: 1.47×
• Total profit: $14,524
• Equity at exit: $16,386

10-year hold

• IRR: 18.0%
• Equity multiple: 2.22×
• Total profit: $37,551
• Equity at exit: $9,502

Cash invested: $30,772 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,336 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$44 /mo · $533/yr
• Insurance: −$46
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$142
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $610

Break-even live

Break-even rent $1,563

Max offer price $109,900

Occupancy floor 69%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4360 Petal Dr Naples, FL	3.0	1.0–2.0	1018	$2,566	$2.52	13d	37	0.83mi
4719 Alladin Ln Naples, FL	1.0–2.0	1.0–2.0	671	$1,895	$2.82	23d	2	1.43mi

HOA detail

• Monthly dues: $142 · $1,704/yr

Listing history 29 events

1. 2026-06-18
   days on market $109,900 Active 120 DOM
2. 2026-06-17
   days on market $109,900 Active 119 DOM
3. 2026-06-16
   days on market $109,900 Active 118 DOM
4. 2026-06-15
   days on market $109,900 Active 117 DOM
5. 2026-06-14
   days on market $109,900 Active 115 DOM
6. 2026-06-10
   days on market $109,900 Active 112 DOM
7. 2026-06-09
   days on market $109,900 Active 111 DOM
8. 2026-06-08
   days on market $109,900 Active 110 DOM
9. 2026-06-07
   days on market $109,900 Active 109 DOM
10. 2026-06-03
    days on market $109,900 Active 105 DOM
11. 2026-06-02
    days on market $109,900 Active 104 DOM
12. 2026-06-01
    days on market $109,900 Active 103 DOM
13. 2026-05-31
    days on market $109,900 Active 102 DOM
14. 2026-05-30
    days on market $109,900 Active 101 DOM
15. 2026-02-18
    status Active
16. 2026-02-10
    listed $109,900
17. 2015-09-29
    price $67,500 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

18. 2015-09-28
    soldstatus $67,500
19. 2015-09-24
    soldstatus $67,500 Sold 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

20. 2015-08-14
    price $68,500 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

21. 2015-08-14
    historical 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

22. 2015-08-06
    status Active 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

23. 2015-07-21
    historical 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

24. 2015-06-16
    price $68,500 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

25. 2015-04-02
    listed $78,500 Active 433-char remark

    Show marketing remark (433 chars)

    In Riviera Colony you own your own land. It is a 55 and over community and is located approximately 5 miles to Fifth Avenue and the beaches. This home has been done over including the floors with some carpet, laminated flooring and ceramic tile. It is reasonably priced. Don't let this one pass you by if you want to spend the winters in lovely Naples, Florida. The home has been maintained well, but is being sold "As Is".

26. 2012-02-24
    soldstatus $41,500 127-char remark

    Show marketing remark (127 chars)

    2/2 Singlewide in good condition with large shed and 2 full baths. Partially furnished, newer roof, newer a/c, great community.

27. 2012-01-26
    listed $43,500 127-char remark

    Show marketing remark (127 chars)

    2/2 Singlewide in good condition with large shed and 2 full baths. Partially furnished, newer roof, newer a/c, great community.

28. 1998-02-18
    soldstatus $37,000
29. 1981-08-01
    soldstatus $27,500

ⓘ 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: $533 · $44/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$379/yr (+$32/mo · 71.2%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,026
• − Mortgage interest: −$6,156
• − Property taxes: −$533
• − Insurance: −$5,668
• − Repairs & maintenance: −$2,242
• − Management: −$2,242
• − HOA: −$1,704
• − Depreciation: −$3,197
• Taxable income: $6,284
• Est. tax owed @ 24.0%: −$1,508
• After-tax cash flow: $5,812/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

• Score: 66/100
• State rank: #586
• US rank: #11224

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment C+ 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: 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

+299.6% since first listed

15 events — show timeline

• 2026-02-18 Relisted — NAPLESMLS
• 2026-02-10 Listed $109,900 NAPLESMLS
• 2015-09-29 Price Changed $67,500 NAPLESMLS
• 2015-09-28 Sold (Public Records) $67,500 Public Records
• 2015-09-24 Sold (MLS) $67,500 NAPLESMLS
• 2015-08-14 Listing Removed — NAPLESMLS
• 2015-08-14 Price Changed $68,500 NAPLESMLS
• 2015-08-06 Relisted — NAPLESMLS
• 2015-07-21 Listing Removed — NAPLESMLS
• 2015-06-16 Price Changed $68,500 NAPLESMLS
• 2015-04-02 Listed $78,500 NAPLESMLS
• 2012-02-24 Sold (MLS) $41,500 NAPLESMLS
• 2012-01-26 Listed $43,500 NAPLESMLS
• 1998-02-18 Sold (Public Records) $37,000 Public Records
• 1981-08-01 Sold (Public Records) $27,500 Public Records

Property tax history

+0.9%/yr

Latest (2025): $533 · +4.7% YoY. Source: county tax records.