1733 Courtyard Way Unit B205 · Naples, FL 34112

$159,900

2 bd · 2.0 ba · 1,072 sqft · Condo · 13 Days on market

Built 1981 Good condition $664/mo HOA · 24% 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 +25.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Move In Ready 2nd Floor Condo Offering Comfort, Convenience, and a Exceptional Naples Lifestyle. This Light and Bright Residence Features Spacious Bedrooms, an Open and Inviting Living Area, and the Added Convenience of an In-Unit Washer and Dryer. Enjoy Extra Storage Space and a Covered Carport Parking Spot for Everyday Ease. Relax and Unwind in the Beautifully Maintained Community with Access to a Sparkling Pool and Spa, Perfect for Enjoying Sunny Florida Days Year-Round. Nestled in the Highly Sought-After Kings Lake Community, this Property Offers a Peaceful Setting with Lush Landscaping and Scenic Surroundings. Ideally Located Just Minutes from Shopping, Dining, and Naples’ Pristi

Key facts

• Extra storage space
• Lush landscaping
• Scenic surroundings

Tags

• IN-UNIT WASHER AND DRYER
• EXTRA STORAGE SPACE
• COVERED CARPORT PARKING SPOT
• LUSH LANDSCAPING
• SCENIC SURROUNDINGS
• MINUTES FROM SHOPPING

Property features AI

Finance

• Financial info: Pets allowed with conditions; contact for details
• HOA & community: Part of a 72-unit community; HOA with annual fee; Quarterly assessment also applicable; HOA covers management, cable TV, internet, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, road maintenance, sewer, street lights, trash and water; Community amenities include barbecue area, picnic area, pickleball, tennis courts, trails and community management; Non-gated community

Exterior

• Parking: Paved parking
• Utilities: Cable available; Sewer assessment paid; Water assessment paid
• Home design: Condo / townhouse / apartment style; Entry level 2; Faces East; Resale property
• Construction: Built with block, concrete and stucco; Shingle roof
• Exterior features: Zero lot line; West exposure

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fans
• Interior features: Shutters on windows; Breakfast area; Tub with shower; Unfurnished
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).

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.
• 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 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $2,730/mo this rent would consume 47% 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.71% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.38%
• DSCR: 1.46
• GRM: 4.9

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: -8.3%
• Equity multiple: 0.71×
• Total profit: $-12,984
• Equity at exit: $23,842

10-year hold

• IRR: -6.1%
• Equity multiple: 0.69×
• Total profit: $-13,914
• Equity at exit: $13,825

Cash invested: $44,772 (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: 4.9×

Monthly cashflow live

• Estimated rent: $2,730 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$664
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $321

Break-even live

Break-even rent $2,323

Max offer price $159,900

Occupancy floor 83%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1765 Courtyard Way Unit C-104 Naples, FL	2.0	2.0	1132	$2,700	$2.39	14d	1	0.05mi
1765 Courtyard Way Unit C206 Naples, FL	2.0	2.5	1150	$1,650	$1.43	14d	1	0.05mi
1701 Courtyard Way Naples, FL	2.0	2.0	1072	$1,990	$1.86	23d	1	0.06mi
1933 Courtyard Way Unit D-103 Naples, FL	2.0	2.0	947	$1,850	$1.95	14d	1	0.10mi
1895 Courtyard Way #103 Naples, FL	3.0	2.0	1046	$2,200	$2.10	21d	1	0.13mi
1802 Kings Lake Blvd Unit 2-101 Naples, FL	2.0	2.0	1465	$5,500	$3.75	23d	1	0.13mi
1826 Kings Lake Blvd #101 Naples, FL	3.0	2.0	1456	$2,700	$1.85	14d	1	0.17mi
1808 Kings Lake Blvd #203 Naples, FL	2.0	2.0	1312	$1,775	$1.35	14d	1	0.19mi
141 Bristol Ln Unit C21 Naples, FL	2.0	2.0	1400	$5,900	$4.21	23d	1	0.22mi
2972 Kings Lake Blvd #2972 Naples, FL	2.0	2.0	1100	$3,000	$2.73	23d	1	0.23mi
153 Bristol Ln Unit F102 Naples, FL	2.0	2.0	1009	$4,900	$4.86	23d	1	0.25mi
153 Bristol Ln Unit A Naples, FL	2.0	2.0	1009	$2,250	$2.23	14d	1	0.25mi
1814 Kings Lake Blvd #204 Naples, FL	2.0	2.0	1400	$2,450	$1.75	23d	1	0.27mi
2132 Tama Cir #102 Naples, FL	2.0	2.0	1368	$4,000	$2.92	23d	1	0.29mi
2644 Kings Lake Blvd Unit 6-103 Naples, FL	2.0	2.0	911	$1,875	$2.06	23d	1	0.32mi
2648 Kings Lake Blvd Unit 6-201 Naples, FL	3.0	2.0	1060	$2,200	$2.08	21d	1	0.32mi
2103 Tama Cir Unit 2 Naples, FL	2.0	2.0	1368	$4,000	$2.92	21d	1	0.35mi
4210 Looking Glass Ln Unit 4210 Naples, FL	2.0	2.0	1300	$3,000	$2.31	14d	1	0.35mi
2712 Kings Lake Blvd #201 Naples, FL	1.0	1.0	1076	$2,850	$2.65	23d	1	0.36mi
4180 Looking Glass Ln Unit 4104 Naples, FL	2.0	2.0	1246	$4,000	$3.21	14d	1	0.38mi
1950 W Crown Pointe Blvd Unit B207 Naples, FL	2.0	2.0	1129	$1,950	$1.73	23d	1	0.38mi
2050 W Crown Pointe Blvd Unit C214 Naples, FL	3.0	2.0	1267	$4,200	$3.31	23d	1	0.40mi
1787 Reuven Cir Unit 1001 Naples, FL	2.0	2.0	1112	$1,300	$1.17	14d	1	0.48mi
4472 Beechwood Lake Dr Naples, FL	3.0	2.0	1352	$3,050	$2.26	23d	1	0.49mi
1075 Foxfire Ln Naples, FL	2.0	2.0	1092	$3,300	$3.02	23d	3	0.51mi
4060 Ice Castle Way #10 Naples, FL	2.0	2.0	1246	$3,600	$2.89	14d	1	0.54mi
4040 Ice Castle Way Unit 2 Naples, FL	2.0	2.0	1246	$2,800	$2.25	23d	1	0.55mi
4021 Ice Castle Way #4 Naples, FL	2.0	2.0	1246	$2,600	$2.09	14d	1	0.60mi
1748 Royal Cir Naples, FL	3.0	2.0	1451	$3,200	$2.21	23d	1	0.62mi
4010 Ice Castle Way #7 Naples, FL	2.0	2.0	1314	$3,200	$2.44	23d	1	0.63mi
4502 Parrot Ave Naples, FL	3.0	2.0	1200	$2,950	$2.46	23d	1	0.66mi
5257 Whitten Dr Naples, FL	2.0	2.0	1500	$2,500	$1.67	14d	1	0.67mi
581 Teryl Rd #5 Naples, FL	2.0	2.0	1403	$4,500	$3.21	14d	1	0.68mi
882 Bluebird St Naples, FL	3.0	2.0	1308	$6,000	$4.59	23d	1	0.69mi
5301 Whitten Dr #81 Naples, FL	3.0	2.0	1386	$2,700	$1.95	23d	1	0.70mi
4069 Northlight Dr #1805 Naples, FL	2.0	2.0	1234	$3,000	$2.43	21d	1	0.74mi
432 Teryl Rd Unit 1546319P Naples, FL	2.0	2.0	1496	$1,561	$1.04	14d	1	0.78mi
1820 Florida Club Cir Naples, FL	3.0	2.0	1282	$2,850	$2.22	23d	2	0.81mi
202 Peppermint Ln #2 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.81mi
195 Peppermint Ln Unit 884 Naples, FL	2.0	2.0	1335	$3,800	$2.85	14d	1	0.81mi

HOA detail condo

• Monthly dues: $664 · $7,968/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-15
   status $159,900 Pending 13 DOM
2. 2026-06-15
   days on market $159,900 Active 13 DOM
3. 2026-06-14
   days on market $159,900 Active 11 DOM
4. 2026-06-10
   days on market $159,900 Active 8 DOM
5. 2026-06-09
   days on market $159,900 Active 7 DOM
6. 2026-06-08
   days on market $159,900 Active 6 DOM
7. 2026-06-07
   days on market $159,900 Active 5 DOM
8. 2026-06-03
   remarks 693-char remark
9. 2026-06-03
   listed $159,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $32,755
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$1,597
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − HOA: −$7,968
• − Depreciation: −$4,652
• Taxable income: $1,942
• Est. tax owed @ 24.0%: −$466
• After-tax cash flow: $3,384/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in-ready 2nd floor condo offers a good condition with minimal repairs needed. It's located in a desirable Naples community with access to amenities and a peaceful setting.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and resale value
• Both Replace carpet in living areas — Improves comfort and appearance
• Rental Clean and maintain HVAC system — Ensures comfort and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and resale value ↑
• Both Replace carpet in living areas — Improves comfort and appearance ↑
• Rental Clean and maintain HVAC system — Ensures comfort and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-02 Listed $159,900 FORTMLS