1155 Sandpiper St Unit B7 · Naples, FL 34102

$355,000

2 bd · 2.0 ba · 1,062 sqft · Condo public records · 117 Days on market

Built 1973 $721/mo HOA · 13% 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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 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

A REMODEL just 1/2 mile to Olde Naples. It is not a middle unit or an end unit, but rather takes up the entire floor of the building. As such, this condo is BRIGHT. Windows face N, S, E and west, which are the newest hurricane impact rated. Do you like tile on the diagonal, new appliances (refrig, range, dishwasher), new water heater and AC, great room floor plan, crown molding, 5 * baseboards? Sorry, you will not find popcorn ceilings here. How about custom closets in both bedrooms, a pantry, laundry room and outside attached storage unit. Did you want a tiny closed in kitchen with the washer/dryer next to the range? Sorry, this has a new open kitchen with under counter stainless sink, under cabinet lighting and solid surface counter tops. How about an expansive Lanai with an outstanding view of a pond often visited by wading and preying birds. Just a short enjoyable stroll to First Ave, past boat slips and the Naples Bay and only blocks to popular restaurants, shopping and markets

Key facts

• Updated electrical
• Screened lanai porch
• Nearby gulf beaches

Tags

• SCREENED LANAI PORCH
• UPDATED ELECTRICAL
• NEARBY GULF BEACHES
• CONVENIENT ACCESS FOR BOATING

Property features AI

Finance

• Other: No RV allowed (restrictions)
• Financial info: Information not provided
• HOA & community: Mandatory HOA with professional management; Quarterly HOA fee (total annual recurring fees listed); HOA covers irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, sewer, street maintenance, trash removal, and water; Community pool; Non-gated community

Exterior

• Parking: Information not provided
• Security: Impact-resistant windows
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden apartment in a low-rise (1–3) building; Built in 1973; Rear exposure faces northwest; Located in Harbor Lakes of Naples community
• Construction: Concrete block construction
• Exterior features: Stucco exterior; Tile roof; Impact-resistant windows and shutters; Pond and water views; Central irrigation

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Self-cleaning oven; Refrigerator/ice maker; Tankless water heater
• Bedrooms: 2 bedrooms with a split-bedroom floor plan
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: High speed internet available; Dining area in living room; Screened lanai/porch
• Laundry & utility: Washer and dryer in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $355k.

Deal economics

• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $355k).
• Recommended offer: $323k (9.0% 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); 614 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); high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $5,401/mo this rent would consume 49% of the median local household income ($131k/yr) (locally 333% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $14k 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 $99k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $155k; list at $355k implies a 129% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $323,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 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 1973 — 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: 1.52% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.19%
• DSCR: 1.59
• GRM: 5.5

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: 21.7%
• Equity multiple: 2.36×
• Total profit: $135,273
• Equity at exit: $181,725

10-year hold

• IRR: 25.2%
• Equity multiple: 5.55×
• Total profit: $451,925
• Equity at exit: $298,619

Cash invested: $99,400 (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: 614
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $5,401 high
• Mortgage (P&I): −$1,862
• Tax est. 1.5%: −$444 /mo · $5,325/yr
• Insurance: −$148
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$721
• Vacancy / Maint / Mgmt: −$1,134
• Net cashflow: $666

Break-even live

Break-even rent $4,558

Max offer price $355,000

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$4,050	$3.81	23d	2	0.09mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$3,950	$3.72	21d	3	0.09mi
1751 Smugglers Cv Unit 2 1 Naples, FL	2.0	1.0	800	$1,995	$2.49	14d	1	0.09mi
9 Knights Bridge Rd #30 Naples, FL	2.0	2.0	1296	$3,000	$2.31	13d	1	0.12mi
12 Knights Bridge Rd Unit A32 Naples, FL	2.0	2.0	1095	$3,200	$2.92	21d	1	0.12mi
1686 Blue Point Ave Naples, FL	2.0	2.0	1057	$5,500	$5.20	14d	2	0.14mi
1686 Blue Point Ave Unit B1 Naples, FL	2.0	2.0	1198	$6,500	$5.43	23d	1	0.14mi
1625 Chesapeake Ave #203 Naples, FL	2.0	2.0	1200	$4,500	$3.75	23d	1	0.16mi
1605 Chesapeake Ave #2 Naples, FL	2.0	1.0	850	$2,300	$2.71	23d	1	0.18mi
1437 Sandpiper St Naples, FL	3.0	2.0	1200	$16,000	$13.33	23d	1	0.20mi
1200 Cherrystone Ct Unit A203 Naples, FL	2.0	2.0	1276	$4,950	$3.88	23d	1	0.22mi
1950 Mayfair ST Unit 1021 Naples, FL	1.0	1.0	710	$3,520	$4.96	14d	1	0.22mi
1950 Mayfair ST Unit 802 Naples, FL	1.0	1.0	710	$3,355	$4.73	14d	1	0.22mi
1950 Mayfair ST Unit 901 Naples, FL	2.0	2.0	1025	$4,560	$4.45	14d	1	0.22mi
1950 Mayfair ST Unit 1027 Naples, FL	1.0	1.0	888	$3,525	$3.97	14d	1	0.22mi
1950 Mayfair ST Unit 716 Naples, FL	1.0	1.0	710	$3,330	$4.69	14d	1	0.22mi
1950 Mayfair ST Unit 818 Naples, FL	2.0	2.0	1142	$4,415	$3.87	14d	1	0.22mi
1950 Mayfair ST Unit 921 Naples, FL	1.0	1.0	710	$3,420	$4.82	14d	1	0.22mi
1950 Mayfair ST Unit 923 Naples, FL	2.0	2.0	1142	$4,490	$3.93	14d	1	0.22mi
1950 Mayfair ST Unit 817 Naples, FL	1.0	1.0	710	$3,295	$4.64	14d	1	0.22mi
1666 Osprey Ave #203 Naples, FL	2.0	2.0	1200	$7,000	$5.83	23d	1	0.23mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	14d	1	0.24mi
1186 Cherrystone Ct Naples, FL	2.0	2.0	1163	$1,995	$1.72	23d	1	0.24mi
1535 Chesapeake Ave Unit A2 Naples, FL	2.0	2.0	1080	$2,000	$1.85	23d	1	0.24mi
24 Rivard Rd Naples, FL	3.0	2.0	1314	$6,500	$4.95	23d	1	0.26mi
1501 Chesapeake Ave Unit 1296210P Naples, FL	2.0	2.0	1377	$4,110	$2.98	14d	1	0.26mi
1165 Clam Ct #7 Naples, FL	2.0	2.5	1449	$2,900	$2.00	23d	1	0.27mi
1549 Sandpiper St #36 Naples, FL	2.0	2.0	1073	$2,195	$2.05	23d	1	0.27mi
1950 Mayfair St Naples, FL	3.0	1.0–3.5	1514	$8,752	$5.78	14d	109	0.27mi
105 Georgetown Blvd #105 Naples, FL	2.0	2.0	1450	$6,500	$4.48	23d	1	0.36mi
1376 Chesapeake Ave #2 Naples, FL	2.0	2.0	1218	$2,300	$1.89	23d	1	0.38mi
1501 Curlew Ave Naples, FL	2.0	1.0	1180	$2,000	$1.69	23d	1	0.38mi
1353 Pelican Ave Naples, FL	2.0	2.0	1203	$8,500	$7.07	23d	1	0.39mi
91 Georgetown Blvd #91 Naples, FL	2.0	2.0	1450	$7,000	$4.83	23d	1	0.39mi
69 Georgetown Blvd #69 Naples, FL	2.0	2.0	1450	$5,500	$3.79	23d	1	0.39mi
1120 Little Neck Ct Unit E40 Naples, FL	3.0	2.0	1400	$2,999	$2.14	23d	1	0.41mi
235 Lanchester Ct #42 Naples, FL	2.0	2.0	1200	$2,350	$1.96	23d	1	0.42mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	23d	1	0.43mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.43mi
84 Georgetown Blvd #84 Naples, FL	2.0	2.0	1450	$5,500	$3.79	23d	1	0.44mi

HOA detail condo

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

Listing history 27 events

1. 2026-06-18
   days on market $355,000 Active 117 DOM
2. 2026-06-18
   price $355,000 Active 116 DOM
3. 2026-06-17
   days on market $345,000 Active 116 DOM
4. 2026-06-16
   days on market $345,000 Active 115 DOM
5. 2026-06-15
   days on market $345,000 Active 114 DOM
6. 2026-06-14
   days on market $345,000 Active 112 DOM
7. 2026-06-10
   days on market $345,000 Active 109 DOM
8. 2026-06-09
   days on market $345,000 Active 108 DOM
9. 2026-06-08
   days on market $345,000 Active 107 DOM
10. 2026-06-07
    days on market $345,000 Active 106 DOM
11. 2026-06-03
    days on market $345,000 Active 102 DOM
12. 2026-06-02
    days on market $345,000 Active 101 DOM
13. 2026-06-01
    days on market $345,000 Active 100 DOM
14. 2026-05-31
    days on market $345,000 Active 99 DOM
15. 2026-05-30
    days on market $345,000 Active 98 DOM
16. 2026-02-21
    listed $345,000 Active
17. 2025-10-29
    historical
18. 2025-03-24
    price $375,000
19. 2025-01-28
    listed $399,900 Active
20. 2013-05-10
    soldstatus $155,000
21. 2013-05-06
    price $179,000 998-char remark

    Show marketing remark (998 chars)

    A REMODEL just 1/2 mile to Olde Naples. It is not a middle unit or an end unit, but rather takes up the entire floor of the building. As such, this condo is BRIGHT. Windows face N, S, E and west, which are the newest hurricane impact rated. Do you like tile on the diagonal, new appliances (refrig, range, dishwasher), new water heater and AC, great room floor plan, crown molding, 5 * baseboards? Sorry, you will not find popcorn ceilings here. How about custom closets in both bedrooms, a pantry, laundry room and outside attached storage unit. Did you want a tiny closed in kitchen with the washer/dryer next to the range? Sorry, this has a new open kitchen with under counter stainless sink, under cabinet lighting and solid surface counter tops. How about an expansive Lanai with an outstanding view of a pond often visited by wading and preying birds. Just a short enjoyable stroll to First Ave, past boat slips and the Naples Bay and only blocks to popular restaurants, shopping and markets

22. 2013-05-06
    soldstatus $155,000 998-char remark

    Show marketing remark (998 chars)

    A REMODEL just 1/2 mile to Olde Naples. It is not a middle unit or an end unit, but rather takes up the entire floor of the building. As such, this condo is BRIGHT. Windows face N, S, E and west, which are the newest hurricane impact rated. Do you like tile on the diagonal, new appliances (refrig, range, dishwasher), new water heater and AC, great room floor plan, crown molding, 5 * baseboards? Sorry, you will not find popcorn ceilings here. How about custom closets in both bedrooms, a pantry, laundry room and outside attached storage unit. Did you want a tiny closed in kitchen with the washer/dryer next to the range? Sorry, this has a new open kitchen with under counter stainless sink, under cabinet lighting and solid surface counter tops. How about an expansive Lanai with an outstanding view of a pond often visited by wading and preying birds. Just a short enjoyable stroll to First Ave, past boat slips and the Naples Bay and only blocks to popular restaurants, shopping and markets

23. 2013-03-09
    listed $155,000 998-char remark

    Show marketing remark (998 chars)

    A REMODEL just 1/2 mile to Olde Naples. It is not a middle unit or an end unit, but rather takes up the entire floor of the building. As such, this condo is BRIGHT. Windows face N, S, E and west, which are the newest hurricane impact rated. Do you like tile on the diagonal, new appliances (refrig, range, dishwasher), new water heater and AC, great room floor plan, crown molding, 5 * baseboards? Sorry, you will not find popcorn ceilings here. How about custom closets in both bedrooms, a pantry, laundry room and outside attached storage unit. Did you want a tiny closed in kitchen with the washer/dryer next to the range? Sorry, this has a new open kitchen with under counter stainless sink, under cabinet lighting and solid surface counter tops. How about an expansive Lanai with an outstanding view of a pond often visited by wading and preying birds. Just a short enjoyable stroll to First Ave, past boat slips and the Naples Bay and only blocks to popular restaurants, shopping and markets

24. 2010-04-27
    soldstatus $76,000
25. 2010-03-02
    listed $79,900
26. 2000-08-24
    soldstatus $15,000
27. 1993-03-31
    soldstatus $42,000

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 24 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: $64,810
• − Mortgage interest: −$19,886
• − Property taxes: −$5,325
• − Insurance: −$6,894
• − Repairs & maintenance: −$5,185
• − Management: −$5,185
• − HOA: −$8,652
• − Depreciation: −$10,327
• Taxable income: $3,357
• Est. tax owed @ 24.0%: −$806
• After-tax cash flow: $7,184/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

• 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

+721.4% since first listed

12 events — show timeline

• 2026-02-21 Listed $345,000 NAPLESMLS
• 2025-10-29 Listing Removed — NAPLESMLS
• 2025-03-24 Price Changed $375,000 NAPLESMLS
• 2025-01-28 Listed $399,900 NAPLESMLS
• 2013-05-10 Sold (Public Records) $155,000 Public Records
• 2013-05-06 Sold (MLS) $155,000 NAPLESMLS
• 2013-05-06 Price Changed $179,000 NAPLESMLS
• 2013-03-09 Listed $155,000 NAPLESMLS
• 2010-04-27 Sold (MLS) $76,000 NAPLESMLS
• 2010-03-02 Listed $79,900 NAPLESMLS
• 2000-08-24 Sold (Public Records) $15,000 Public Records
• 1993-03-31 Sold (Public Records) $42,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $363 · +916.7% YoY. Source: county tax records.