492 Bristle Cone Ln #47 · Lely, FL 34113

$235,000

2 bd · 2.0 ba · 1,129 sqft · Condo public records · 353 Days on market

Built 1979 $450/mo HOA · 10% 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
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NO MASTER FEES IN IRONWOOD. NEW LOWER CONDO FEES IN 2026. NEW PRICE - New photos coming June 9. Incredible opportunity with new Private Golf Course taking over the Hibiscus. Property values will be higher when they have finished course renovations. Peaceful, friendly neighborhood!! This incredible lovelingly maintained second floor residence has stunning views of Hibiscus Golf Course-Now known as The Lantern Club, its waterways and abundant local wildlife - day and night. A change of scenery is available from front deck for those wanting to wave to neighbors and keep an eye on the community. Floors are a combination of wood in living areas and ceramic tiles in bedrooms, baths, kitchen an

Key facts

• Breathtaking views
• Front deck
• Cozy sw facing lanai

Tags

• BREATHTAKING VIEWS
• COZY SW FACING LANAI
• FRONT DECK
• STEPS TO THE POOL
• HIBISCUS GOLF COURSE
• IMPACT WINDOWS AND DOORS

Property features AI

Finance

• Other: Ironwood sub-condo (64-unit community across 6 buildings plus clubhouse); Unit is one of 2 units per floor in an 11-unit building; Has waterfront (lake) and views of Hibiscus golf course, landscaped areas, and pool/club; Irrigation supplied by well; Subdivision: IRONWOOD, development: LELY
• Financial info: Total annual recurring HOA fees: $5,396; One-time fees: $250; Quarterly condo fee amount listed
• HOA & community: Quarterly condo fee; Professional management; Community clubhouse and pool; Streetlights in community; Community type: non-gated golf course; Maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior and interior pest control, repairs, reserves, sewer, street lights, street maintenance and water

Exterior

• Parking: 1 assigned, deeded parking space; Detached 1-car garage; Guest parking; Paved parking
• Security: Garage secured
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1–3 stories); 2-story unit; Rear exposure faces southwest; Located on a cul-de-sac and paved road; Zero lot line; Golf course community setting with lake and canal views
• Construction: Built in 1979; Concrete block and wood frame construction; Tile roof; Exterior finished in stucco and vinyl siding
• Exterior features: Deck; Automatic sprinkler system; Impact-resistant sliding windows; Impact-resistant doors; Electric and manual shutters; Garage secured

Interior

• Kitchen: Dishwasher; Range / Self-cleaning oven; Microwave; Refrigerator / Freezer with icemaker; Breakfast bar; Dining space in family and living areas
• Bedrooms: 2 bedrooms; Master bedroom upstairs; Split bedroom floor plan
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Window coverings; Open porch / screened lanai; 6 total rooms; Unfurnished; 2 ceiling fans
• Laundry & utility: Washer and dryer in residence; Auto garage door

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $235k).
• Recommended offer: $207k (12.0% 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: health & safety D, amenities F, commute 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: Lely Elementary School (math 45% / reading 46%, grade D-, #1,247 of 2,144 statewide, top 59%, 499 students, 62% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL) — zoned schools at 58% FRL track the district average.
• Zoned-school proficiency averages 42% at this address vs 58% district-wide (-16 pts) — the specific schools serving this property underperform the Collier average; the district grade overstates school quality for this exact location.
• 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).

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 $66k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 353 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $95k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $235k implies a 81% 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 $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 353 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 1979 — 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 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?
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: 1.94% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.04%
• DSCR: 2.29
• GRM: 4.3

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: 17.6%
• Equity multiple: 1.74×
• Total profit: $48,923
• Equity at exit: $35,039

10-year hold

• IRR: 28.4%
• Equity multiple: 3.94×
• Total profit: $193,217
• Equity at exit: $20,319

Cash invested: $65,800 (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: 4.3×

Monthly cashflow live

• Estimated rent: $4,555 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$226 /mo · $2,709/yr
• Insurance: −$98
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$450
• Vacancy / Maint / Mgmt: −$957
• Net cashflow: $1,166

Break-even live

Break-even rent $3,079

Max offer price $235,000

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
452 Bristle Cone Ln #27 Naples, FL	2.0	2.0	1129	$2,000	$1.77	23d	1	0.05mi
315 Saint Andrews Blvd Unit A25 Naples, FL	2.0	2.0	1126	$1,530	$1.36	23d	1	0.20mi
326 Bradstrom Cir Unit 204F Naples, FL	3.0	2.0	1200	$3,500	$2.92	23d	1	0.28mi
326 Bradstrom Cir Unit 103F Naples, FL	2.0	2.0	1113	$1,800	$1.62	23d	1	0.28mi
332 Bradstrom Cir #201 Naples, FL	2.0	2.0	1257	$2,200	$1.75	23d	1	0.33mi
248 Pebble Beach Cir Unit G201 Naples, FL	2.0	2.0	1163	$2,300	$1.98	23d	1	0.35mi
5293 Dixie Dr Unit 1546039P Naples, FL	2.0	2.0	1130	$1,561	$1.38	14d	1	0.37mi
520 Augusta Blvd Unit B204 Naples, FL	3.0	2.0	1294	$2,200	$1.70	23d	1	0.40mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	23d	1	0.40mi
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	23d	1	0.44mi
413 Augusta Blvd #302 Naples, FL	2.0	2.0	1390	$5,500	$3.96	21d	1	0.48mi
232 Pebble Beach Blvd #104 Naples, FL	3.0	2.0	1298	$1,975	$1.52	23d	1	0.49mi
265 Deerwood Cir Naples, FL	2.0	2.0	1179	$5,000	$4.24	23d	1	0.50mi
6984 Saona Ct Naples, FL	2.0	2.0	1472	$7,500	$5.10	23d	1	0.53mi
7124 Saona Ct Naples, FL	2.0	2.0	1387	$8,000	$5.77	23d	1	0.57mi
555 Augusta Blvd Unit 3-1 Naples, FL	2.0	2.0	1249	$4,200	$3.36	23d	1	0.58mi
7110 Cayo Coco Ln Naples, FL	2.0	2.0	1387	$9,250	$6.67	23d	1	0.59mi
5535 Rattlesnake Hammock Rd #302 Naples, FL	2.0	2.0	1205	$2,800	$2.32	23d	1	0.60mi
7197 Saona Ct Unit 1545994P Naples, FL	2.0	2.0	1291	$4,152	$3.22	14d	1	0.60mi
7142 Cayo Coco Ln Naples, FL	2.0	2.0	1490	$10,000	$6.71	23d	1	0.61mi
7162 Saona Ct Naples, FL	2.0	2.0	1482	$9,000	$6.07	23d	1	0.61mi
7138 Cayo Coco Ln Naples, FL	2.0	2.0	1205	$6,500	$5.39	23d	1	0.61mi
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	23d	1	0.61mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	21d	1	0.61mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	14d	2	0.62mi
7213 Saona Ct Naples, FL	2.0	2.0	1308	$7,500	$5.73	23d	1	0.62mi
575 Augusta Blvd Naples, FL	3.0	2.0	1500	$2,100	$1.40	23d	1	0.63mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	14d	1	0.64mi
7204 Cayo Coco Ln Naples, FL	2.0	2.0	1308	$7,500	$5.73	23d	1	0.67mi
5502 Greenwood Cir #1 Naples, FL	3.0	2.0	1450	$2,400	$1.66	23d	1	0.67mi
7242 Saona Ct Naples, FL	2.0	2.0	1204	$7,750	$6.44	23d	1	0.67mi
7289 Saona Ct Naples, FL	2.0	2.0	1411	$10,000	$7.09	23d	1	0.67mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	14d	1	0.69mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	23d	1	0.69mi
7286 Saona Ct Naples, FL	2.0	2.0	1205	$10,000	$8.30	23d	1	0.70mi
701 Augusta Blvd Unit 701-8 Naples, FL	2.0	2.0	1250	$4,800	$3.84	14d	1	0.71mi
7263 Cayo Coco Ln Naples, FL	2.0	2.0	1321	$6,500	$4.92	23d	1	0.72mi
5595 Greenwood Cir #92 Naples, FL	3.0	2.0	1450	$5,000	$3.45	23d	1	0.72mi
7259 Cayo Coco Ln Naples, FL	2.0	2.0	1411	$6,500	$4.61	23d	1	0.73mi
7299 Cayo Coco Ln Naples, FL	2.0	2.0	1476	$6,500	$4.40	23d	1	0.73mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $235,000 Active 353 DOM
2. 2026-06-17
   days on market $235,000 Active 352 DOM
3. 2026-06-16
   days on market $235,000 Active 351 DOM
4. 2026-06-15
   days on market $235,000 Active 350 DOM
5. 2026-06-10
   days on market $235,000 Active 345 DOM
6. 2026-06-09
   days on market $235,000 Active 344 DOM
7. 2026-06-08
   days on market $235,000 Active 343 DOM
8. 2026-06-07
   days on market $235,000 Active 342 DOM
9. 2026-06-02
   days on market $235,000 Active 337 DOM
10. 2026-06-01
    pricedays on market $235,000 Active 336 DOM
11. 2026-05-31
    days on market $249,000 Active 335 DOM
12. 2026-05-30
    days on market $249,000 Active 334 DOM
13. 2026-04-24
    status Active
14. 2026-04-13
    status Pending With Contingencies
15. 2026-02-09
    price $249,000
16. 2025-11-01
    price $265,000
17. 2025-11-01
    status Active
18. 2025-07-05
    historical
19. 2025-05-05
    price $295,000
20. 2025-02-21
    listed $330,000 Active
21. 2008-03-24
    soldstatus $129,500
22. 1998-05-19
    soldstatus $50,000
23. 1998-05-19
    soldstatus $50,000

ⓘ 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: $2,709 · $226/mo
• Projected year-2 tax: $2,709 · $226/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 · 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: $54,661
• − Mortgage interest: −$13,164
• − Property taxes: −$2,709
• − Insurance: −$6,294
• − Repairs & maintenance: −$4,373
• − Management: −$4,373
• − HOA: −$5,400
• − Depreciation: −$6,836
• Taxable income: $11,513
• Est. tax owed @ 24.0%: −$2,763
• After-tax cash flow: $11,228/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

• Census place: Lely, FL
• 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

+398.0% since first listed

11 events — show timeline

• 2026-04-24 Relisted — NAPLESMLS
• 2026-04-13 Pending — NAPLESMLS
• 2026-02-09 Price Changed $249,000 NAPLESMLS
• 2025-11-01 Price Changed $265,000 NAPLESMLS
• 2025-11-01 Relisted — NAPLESMLS
• 2025-07-05 Listing Removed — NAPLESMLS
• 2025-05-05 Price Changed $295,000 NAPLESMLS
• 2025-02-21 Listed $330,000 NAPLESMLS
• 2008-03-24 Sold (Public Records) $129,500 Public Records
• 1998-05-19 Sold (Public Records) $50,000 Public Records
• 1998-05-19 Sold (Public Records) $50,000 Public Records

Property tax history

+17.4%/yr

Latest (2025): $2,709 · +3.5% YoY. Source: county tax records.