980 7th Ave S #101 · Naples, FL 34102

$389,000

1 bd · 1.0 ba · 540 sqft · Condo public records · 169 Days on market

Built 1971 $721/mo HOA · 16% of rent

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Why this score? — see what drove the C+ 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 +19.9/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +6.4/10.0
• DSCR +6.3/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Its all about lifestyle, live the Old Naples life. Castleton Gardens is in the heart of it all, walking distance to 5th ave restaurants, entertainment and theaters, art gallery's, boutiques, the Gulf Beaches and Cambier Park. This condo has been recently renovated to include hurricane windows, granite counters, crown molding, modern tile back splash, plantation shutters, and designer lighting and fans, and laundry in the unit. Castleton Gardens boasts of a community courtyard area to including a large, pool, spa and covered cabana grill area. Affordable priced will not last!!!

Key facts

• Gated community
• Hurricane windows
• Community pool

Tags

• GATED COMMUNITY
• COMMUNITY POOL
• OUTDOOR SPACE
• GRILLING AREA
• SEAMLESS GLASS SHOWER DOOR
• HURRICANE WINDOWS

Property features AI

Finance

• Other: Part of a complex with 32 units (20 units in the building); Single-floor unit; Subdivision: CASTLETON GARDENS (unit 101); City view; Central irrigation
• HOA & community: Quarterly condo fee; Condo management; Community amenities include cabana, community pool, community spa/hot tub, sidewalks, streetlights, and underground utilities; Maintenance provided: insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, exterior pest control, reserves, street lights, trash removal, and water; Total annual recurring fees listed; Total one-time fees listed

Exterior

• Parking: Paved driveway
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1-3 stories); Corner unit; Rear exposure facing SE; Zero lot line
• Construction: Concrete block construction; Built in 1971
• Exterior features: Automatic sprinkler system; Impact resistant windows; Double-hung windows; Stucco exterior; Built-up or flat roof

Interior

• Kitchen: Island; Microwave; Refrigerator/Freezer; Eat-in kitchen
• Bedrooms: 1 bedroom
• Flooring: Tile
• Bathrooms: 1 full bathroom; Master bath with combo tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Bar; Built-in cabinets; Cable prewire (service available); High-speed internet available; Smoke detectors; Great room floor plan; Turnkey furnished; Florida room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $43 ($512/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.

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 rising fast (+8.8%/yr); 616 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 41% of the median local income ($131k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($3k loan paydown + $16k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.1% appreciation + 8.0% rent growth), your $109k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y 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 $275k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $342,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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 1971 — 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 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?
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: 1.14% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.08% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.88×
• Total profit: $96,248
• Equity at exit: $199,130

10-year hold

• IRR: 18.1%
• Equity multiple: 4.27×
• Total profit: $356,290
• Equity at exit: $327,219

Cash invested: $108,920 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 616
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,422 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$721
• Vacancy / Maint / Mgmt: −$929
• Net cashflow: $43

Break-even live

Break-even rent $4,368

Max offer price $389,000

Occupancy floor 94%

Sensitivity live

Price	-10% $263	-5% $153	+0% $43	+5% $-67	+10% $-178
Rent	-10% $-307	-5% $-132	+0% $43	+5% $217	+10% $392
Rate	-1.0pp $239	-0.5pp $142	base $43	+0.5pp $-58	+1.0pp $-161

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
980 7th Ave S Naples, FL	1.0	1.0	540	$7,500	$13.89	24d	2	0.04mi
950 7th Ave S #23 Naples, FL	1.0	1.0	631	$3,250	$5.15	14d	1	0.05mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	24d	1	0.30mi
655 8th Ave S Unit 1504166P Naples, FL	1.0	1.0	505	$5,346	$10.59	14d	1	0.33mi
960 7th St S #103 Naples, FL	1.0	1.0	534	$5,000	$9.36	24d	1	0.35mi
540 4th Ave S #13 Naples, FL	1.0	1.0	580	$5,000	$8.62	24d	1	0.45mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	24d	4	0.46mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	14d	4	0.46mi
480 5th St S #102 Naples, FL	1.0	1.0	600	$6,500	$10.83	24d	1	0.50mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$2,500	$2.68	14d	2	0.64mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$3,000	$4.29	24d	2	0.65mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$2,800	$3.22	24d	2	0.66mi
291 8th Ave S Unit 291A Naples, FL	1.0	1.0	550	$3,900	$7.09	24d	1	0.66mi
1360 Chesapeake Ave Unit 1372 Naples, FL	1.0	1.0	600	$1,850	$3.08	24d	1	0.68mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	24d	2	0.74mi
1950 Mayfair ST Unit 716 Naples, FL	1.0	1.0	710	$3,330	$4.69	14d	1	0.80mi
1950 Mayfair ST Unit 817 Naples, FL	1.0	1.0	710	$3,295	$4.64	14d	1	0.80mi
1950 Mayfair ST Unit 1021 Naples, FL	1.0	1.0	710	$3,520	$4.96	14d	1	0.80mi
1950 Mayfair ST Unit 921 Naples, FL	1.0	1.0	710	$3,420	$4.82	14d	1	0.80mi
1950 Mayfair ST Unit 802 Naples, FL	1.0	1.0	710	$3,355	$4.73	14d	1	0.80mi
1950 Mayfair St Naples, FL	3.0	1.0–3.5	1514	$5,505	$3.63	14d	109	0.82mi
1295 Gulf Shore Blvd S #218 Naples, FL	2.0	2.0	662	$10,479	$15.83	24d	1	0.93mi
2134 Palm St Naples, FL	1.0	1.0	600	$7,500	$12.50	24d	1	0.99mi

HOA detail condo

• Monthly dues: $721 · $8,652/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $389,000 Active 169 DOM
2. 2026-06-18
   days on market $389,000 Active 166 DOM
3. 2026-06-17
   days on market $389,000 Active 165 DOM
4. 2026-06-16
   days on market $389,000 Active 164 DOM
5. 2026-06-15
   days on market $389,000 Active 163 DOM
6. 2026-06-10
   pricedays on market $389,000 Active 158 DOM
7. 2026-06-09
   days on market $425,000 Active 157 DOM
8. 2026-06-08
   days on market $425,000 Active 156 DOM
9. 2026-06-07
   days on market $425,000 Active 155 DOM
10. 2026-06-03
    days on market $425,000 Active 151 DOM
11. 2026-06-02
    days on market $425,000 Active 150 DOM
12. 2026-06-01
    days on market $425,000 Active 149 DOM
13. 2026-05-31
    days on market $425,000 Active 148 DOM
14. 2026-05-30
    days on market $425,000 Active 147 DOM
15. 2026-04-25
    price $425,000
16. 2026-03-26
    price $489,000
17. 2026-01-21
    price $499,999
18. 2026-01-03
    listed $399,999 Active
19. 2025-05-08
    historical $1,895
20. 2025-05-01
    price $1,895
21. 2025-04-24
    historical
22. 2025-04-04
    listed $1,995
23. 2025-03-29
    price $399,900
24. 2025-03-29
    status Active
25. 2024-10-01
    historical
26. 2024-09-19
    price $499,900
27. 2024-09-19
    status Active
28. 2024-09-09
    status Pending With Contingencies
29. 2024-08-10
    price $528,000
30. 2024-02-14
    listed $595,000 Active
31. 2020-01-21
    soldstatus $275,000
32. 2020-01-09
    soldstatus $275,000 Sold 586-char remark

    Show marketing remark (586 chars)

    Its all about lifestyle, live the Old Naples life. Castleton Gardens is in the heart of it all, walking distance to 5th ave restaurants, entertainment and theaters, art gallery's, boutiques, the Gulf Beaches and Cambier Park. This condo has been recently renovated to include hurricane windows, granite counters, crown molding, modern tile back splash, plantation shutters, and designer lighting and fans, and laundry in the unit. Castleton Gardens boasts of a community courtyard area to including a large, pool, spa and covered cabana grill area. Affordable priced will not last!!!

33. 2019-12-23
    status Pending With Contingencies 586-char remark

    Show marketing remark (586 chars)

    Its all about lifestyle, live the Old Naples life. Castleton Gardens is in the heart of it all, walking distance to 5th ave restaurants, entertainment and theaters, art gallery's, boutiques, the Gulf Beaches and Cambier Park. This condo has been recently renovated to include hurricane windows, granite counters, crown molding, modern tile back splash, plantation shutters, and designer lighting and fans, and laundry in the unit. Castleton Gardens boasts of a community courtyard area to including a large, pool, spa and covered cabana grill area. Affordable priced will not last!!!

34. 2019-12-10
    listed $299,900 Active 586-char remark

    Show marketing remark (586 chars)

    Its all about lifestyle, live the Old Naples life. Castleton Gardens is in the heart of it all, walking distance to 5th ave restaurants, entertainment and theaters, art gallery's, boutiques, the Gulf Beaches and Cambier Park. This condo has been recently renovated to include hurricane windows, granite counters, crown molding, modern tile back splash, plantation shutters, and designer lighting and fans, and laundry in the unit. Castleton Gardens boasts of a community courtyard area to including a large, pool, spa and covered cabana grill area. Affordable priced will not last!!!

35. 2017-12-01
    soldstatus $255,000 Sold
36. 2017-12-01
    soldstatus $255,000
37. 2017-10-28
    status Pending
38. 2017-10-16
    status Active
39. 2017-09-26
    historical
40. 2017-08-21
    listed $269,000 Active
41. 2015-06-25
    soldstatus $230,000

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $3,229 · $269/mo
• Expected delta: +$2,020/yr (+$168/mo · 167.0%)

ⓘ 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 · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,059
• − Mortgage interest: −$21,790
• − Property taxes: −$1,209
• − Insurance: −$7,064
• − Repairs & maintenance: −$4,245
• − Management: −$4,245
• − HOA: −$8,652
• − Depreciation: −$11,316
• Taxable loss: −$5,462
• Est. tax savings @ 24.0%: +$1,311
• After-tax cash flow: $1,823/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 — 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

• Census place: Naples, FL
• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 11,179
• Household income: $130,929
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 333.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 1%
• Hispanic origin (detail): Cuban 6%
• Common ancestry: Hispanic 4% Lithuanian 4% Romanian 4%
• Foreign-born: 17% · Canada, China
• Languages at home: 87% English-only · Spanish 7% 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: ▲ 4.08%
• Current HPI: 328.2755
• Rent YoY: ▲ 8.75%
• 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

+84.8% since first listed

27 events — show timeline

• 2026-04-25 Price Changed $425,000 NAPLESMLS
• 2026-03-26 Price Changed $489,000 NAPLESMLS
• 2026-01-21 Price Changed $499,999 NAPLESMLS
• 2026-01-03 Listed $399,999 NAPLESMLS
• 2025-05-08 Rental Removed $1,895 Avail
• 2025-05-01 Price Changed $1,895 Avail
• 2025-04-24 Listing Removed — NAPLESMLS
• 2025-04-04 Listed for Rent $1,995 Avail
• 2025-03-29 Price Changed $399,900 NAPLESMLS
• 2025-03-29 Relisted — NAPLESMLS
• 2024-10-01 Listing Removed — NAPLESMLS
• 2024-09-19 Price Changed $499,900 NAPLESMLS
• 2024-09-19 Relisted — NAPLESMLS
• 2024-09-09 Pending — NAPLESMLS
• 2024-08-10 Price Changed $528,000 NAPLESMLS
• 2024-02-14 Listed $595,000 NAPLESMLS
• 2020-01-21 Sold (Public Records) $275,000 Public Records
• 2020-01-09 Sold (MLS) $275,000 NAPLESMLS
• 2019-12-23 Pending — NAPLESMLS
• 2019-12-10 Listed $299,900 NAPLESMLS
• 2017-12-01 Sold (Public Records) $255,000 Public Records
• 2017-12-01 Sold (MLS) $255,000 NAPLESMLS
• 2017-10-28 Pending — NAPLESMLS
• 2017-10-16 Relisted — NAPLESMLS
• 2017-09-26 Listing Removed — NAPLESMLS
• 2017-08-21 Listed $269,000 NAPLESMLS
• 2015-06-25 Sold (Public Records) $230,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,209 · -57.6% YoY. Source: county tax records.