9061 Michael Cir #2 · Lely Resort, FL 34113

$330,000

2 bd · 2.0 ba · 1,450 sqft · Condo public records · 658 Days on market

Built 1996 $660/mo HOA · 19% of rent

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Why this score? — see what drove the D 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 +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• DSCR +3.3/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy fantastic lake views from the screened lanai of this comfortable 2 bedroom plus den condo located in the popular neighborhood of Peridot at Sunstone in the beautiful Lely Resort community. Also has a detached single car garage. Is a 2nd floor unit in a 2 story building so no one lives above you. Very quiet and peaceful. Living /dining room has cathedral ceilings. Also a wet bar. Spacious kitchen has an eat-in breakfast dining area. Comfortable master bedroom also offers views of the very large lake. Master bath offers a walk-in shower and a spa tub. Also has a walk-in closet and second closet. Ceiling fans throughout the unit. Neighborhood is very well maintained and peaceful. It ha

Key facts

• Lake view
• Condo
• $660 HOA

Tags

• LAKE VIEW
• CONDO

Property features AI

Finance

• Other: Part of a complex with 124 units and 12 units in the building; Two units per floor and one floor in the building; Lot unit 502, section 33
• HOA & community: Quarterly condo fee; Professional management; Community amenities include bike and jog path, community pool, golf course, internet access, private membership options, streetlights, and tennis; Maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserves, sewer, street lights, street maintenance, trash removal, and water; Total annual recurring fees: $7,920; One-time fees: $100

Exterior

• Parking: Detached 1-car garage; Paved driveway; Guest parking
• Security: Patrolled community
• Utilities: Central water; Central sewer; Cable available; Electric service
• Home design: Residential property in Lely Resort (Peridot at Sunstone); Low-rise building (1-3 stories); Single-story unit; Rear exposure faces northwest; Concrete block construction; Built in 1996
• Construction: Concrete block construction; Stucco finish; Built-up or flat roof; Year built: 1996
• Exterior features: Stucco exterior; Built-up or flat roof; Patrolled community security; Paved road access; Lake frontage; Golf course and lake views; Central irrigation

Interior

• Kitchen: Pantry; Electric cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator/freezer
• Bedrooms: 2 bedrooms plus den; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with dual sinks, jetted tub, and separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans (6)
• Interior features: Bar; Cable prewire; Fire sprinkler system; High-speed internet available; Smoke detectors; Screened lanai/porch; Den (study); Dining (living) and eat-in kitchen
• 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 $330k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $297k (9.9% below list).
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#786 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; Watch: health & safety D, schools F, 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 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).
• At $3,529/mo this rent would consume 52% of the median local household income ($82k/yr) (locally 954% 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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 658 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $90k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $330k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $290,400 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 658 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 F-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
11. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
12. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
13. 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.
14. 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.
15. 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: 1.07% ✓
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 7.8

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: -16.4%
• Equity multiple: 0.40×
• Total profit: $-55,330
• Equity at exit: $49,204

10-year hold

• IRR: -2.9%
• Equity multiple: 0.78×
• Total profit: $-20,568
• Equity at exit: $28,532

Cash invested: $92,400 (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 34113

• Rents YoY: 5.6%
• Active inventory: 597
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,529 medium
• Mortgage (P&I): −$1,731
• Tax from tax record: −$378 /mo · $4,533/yr
• Insurance: −$138
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$660
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $-185

Break-even live

Break-even rent $3,762

Max offer price $297,364

Occupancy floor —

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9022 Michael Cir Unit 2-205 Naples, FL	2.0	2.0	1450	$3,500	$2.41	23d	1	0.06mi
9175 Michael Cir #4 Naples, FL	3.0	2.0	1639	$3,195	$1.95	14d	1	0.09mi
8540 Mystic Greens Way #305 Naples, FL	2.0	2.0	1710	$4,995	$2.92	14d	1	0.16mi
8468 Indian Wells Way Naples, FL	3.0	2.0	1704	$10,500	$6.16	23d	1	0.31mi
8432 Indian Wells Way Naples, FL	3.0	2.0	1746	$3,495	$2.00	14d	1	0.39mi
8161 Twelve Oaks Cir #512 Naples, FL	2.0	2.0	1066	$5,000	$4.69	23d	1	0.43mi
8036 Belmont Ct Unit 1073497P Naples, FL	3.0	2.0	1840	$5,316	$2.89	23d	1	0.56mi
7100 Falcons Glen Blvd Naples, FL	3.0	2.0	1650	$10,000	$6.06	23d	1	0.59mi
7112 Falcons Glen Blvd Naples, FL	3.0	2.0	1786	$14,000	$7.84	23d	1	0.63mi
24 Cheyenne Trl Naples, FL	2.0	2.0	888	$3,500	$3.94	14d	1	0.67mi
9165 Celeste Dr Unit 3-303 Naples, FL	2.0	2.0	1000	$6,500	$6.50	23d	1	0.72mi
9175 Celeste Dr Unit 105 Naples, FL	2.0	2.0	1000	$2,000	$2.00	23d	1	0.73mi
9187 Celeste Dr Unit 1073494P Naples, FL	2.0	2.0	1399	$2,979	$2.13	14d	1	0.74mi
9118 Chula Vista St #12002 Naples, FL	2.0	2.5	1531	$4,200	$2.74	23d	1	0.79mi
9159 Delano St #9905 Naples, FL	3.0	2.0	1770	$4,995	$2.82	23d	1	0.80mi
9102 Chula Vista St #11302 Naples, FL	2.0	2.5	1531	$2,695	$1.76	21d	1	0.80mi
9155 Delano St Unit 1545913P Naples, FL	3.0	2.0	1797	$3,871	$2.15	14d	1	0.80mi
6737 Bent Grass Dr Naples, FL	3.0	2.0	1745	$12,000	$6.88	23d	1	0.81mi
9151 Delano St #9702 Naples, FL	3.0	2.5	1733	$2,650	$1.53	14d	1	0.81mi
9092 Chula Vista St #11003 Naples, FL	2.0	2.0	1404	$6,850	$4.88	23d	1	0.81mi
9088 Chula Vista St Unit 108-3 Naples, FL	2.0	2.0	1404	$5,700	$4.06	23d	1	0.81mi
11496 Sumter Grove Cir Naples, FL	1.0–2.0	1.0–2.0	1067	$2,134	$2.00	14d	14	0.84mi
9109 Yuba Ln Unit 80 Naples, FL	3.0	2.5	1729	$3,900	$2.26	23d	1	0.85mi
9115 Capistrano St S #8207 Naples, FL	2.0	2.5	1494	$6,000	$4.02	23d	1	0.86mi
6757 Bent Grass Dr Naples, FL	3.0	2.0	1719	$3,650	$2.12	23d	1	0.86mi
9076 Rialto St Unit 62 Naples, FL	3.0	2.5	1624	$7,500	$4.62	23d	1	0.88mi
6769 Bent Grass Dr Naples, FL	2.0	2.0	1719	$10,500	$6.11	23d	1	0.88mi
9111 Capistrano St S #8303 Naples, FL	2.0	2.5	1432	$7,500	$5.24	23d	1	0.88mi
9072 Rialto St #6302 Naples, FL	3.0	2.0	1771	$8,250	$4.66	21d	1	0.89mi
9102 Capistrano St S Unit 72-3 Naples, FL	2.0	2.5	1520	$6,500	$4.28	23d	1	0.91mi
22 Cypress View Dr Unit B22 Naples, FL	2.0	2.0	1534	$7,000	$4.56	23d	1	0.91mi
9073 Rialto St #6002 Naples, FL	3.0	2.0	1771	$7,500	$4.23	23d	1	0.92mi
7955 Mahogany Run Ln #515 Naples, FL	2.0	2.0	1244	$8,925	$7.17	23d	1	0.93mi
7955 Mahogany Run Ln Unit 1504173P Naples, FL	3.0	2.0	1442	$5,840	$4.05	14d	1	0.93mi
9081 Albion Ln S #6505 Naples, FL	2.0	2.0	1225	$7,500	$6.12	23d	1	0.94mi
6719 Crowned Eagle Ln Naples, FL	3.0	2.0	1745	$3,850	$2.21	23d	1	0.95mi
6590 Beach Resort Dr Unit 305 Naples, FL	2.0	2.0	1351	$4,500	$3.33	14d	1	0.95mi
9082 Capistrano St N Unit 48-5 Naples, FL	2.0	2.0	1227	$6,500	$5.30	23d	1	0.98mi
9071 Albion Ln N #5706 Naples, FL	2.0	2.5	1441	$2,200	$1.53	23d	1	0.99mi
7940 Mahogany Run Ln #623 Naples, FL	2.0	2.0	1389	$8,000	$5.76	23d	1	0.99mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $330,000 Active 658 DOM
2. 2026-06-17
   days on market $330,000 Active 657 DOM
3. 2026-06-16
   days on market $330,000 Active 656 DOM
4. 2026-06-15
   days on market $330,000 Active 655 DOM
5. 2026-06-10
   days on market $330,000 Active 650 DOM
6. 2026-06-09
   days on market $330,000 Active 649 DOM
7. 2026-06-08
   days on market $330,000 Active 648 DOM
8. 2026-06-07
   days on market $330,000 Active 647 DOM
9. 2026-06-03
   remarks 699-char remark
10. 2026-06-03
    listed $330,000 Active 642 DOM

ⓘ 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: $4,533 · $378/mo
• Projected year-2 tax: $4,533 · $378/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 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $42,342
• − Mortgage interest: −$18,485
• − Property taxes: −$4,533
• − Insurance: −$2,448
• − Repairs & maintenance: −$3,387
• − Management: −$3,387
• − HOA: −$7,920
• − Depreciation: −$9,600
• Taxable loss: −$7,418
• Est. tax savings @ 24.0%: +$1,780
• After-tax cash flow: $-437/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 Resort

• Score: 61/100
• State rank: #786
• US rank: #17981

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A- Housing D- Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lely Resort, 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

+31.0% since first listed

13 events — show timeline

• 2026-04-24 Relisted — NAPLESMLS
• 2026-02-21 Pending — NAPLESMLS
• 2026-02-17 Price Changed $330,000 NAPLESMLS
• 2025-07-30 Price Changed $385,000 NAPLESMLS
• 2025-01-27 Price Changed $399,000 NAPLESMLS
• 2024-10-01 Price Changed $409,500 NAPLESMLS
• 2024-06-28 Listed $419,500 NAPLESMLS
• 2012-04-11 Sold (Public Records) $145,000 Public Records
• 2007-05-11 Listed $329,900 MIML
• 2007-03-20 Sold (Public Records) $315,000 Public Records
• 2001-09-05 Sold (Public Records) $155,000 Public Records
• 1996-11-25 Sold (Public Records) $123,800 Public Records
• 1996-03-29 Sold (Public Records) $252,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $4,533 · +6.8% YoY. Source: county tax records.