2370 Naples Trace Cir #6 · Pelican Marsh, FL 34109

$295,000

3 bd · 2.0 ba · 1,180 sqft · Condo public records · 119 Days on market

Built 1990 $367/mo HOA · 15% 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 +10.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• 1% rule +3.5/10.0
• DSCR +3.1/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome Home. This is the Only Three Bedroom, Two Bathroom, Zoned for the Coveted Pelican Marsh Elementary, Available Today Under $200,000. Offered Turnkey, Move Right In and Enjoy. Recently Renovated, This Spacious Home Boasts Concrete Counters, Stainless Steel Appliances, and All New Wood Flooring. Rarely Available, Naples Trace is both Quiet and Friendly and Features the Lowest HOA Dues Around, Conveniently Located Just Minutes to the Finest Shopping, Dining, Entertainment, and the Beautiful Sugar Sand Beaches of North Naples. True Modern Comfort, Don't Delay, Schedule to See This Stunning Home Today.

Key facts

• Thoughtful upgrades
• New led lighting
• Move in ready

Tags

• MOVE IN READY
• THOUGHTFUL UPGRADES
• PROFESSIONAL PAINTING
• NEW LED LIGHTING
• NEW ELECTRIC BREAKER BOX
• FULL HOME SURGE PROTECTOR

Property features AI

Finance

• Other: Part of the Naples Trace development; Complex has 86 units; building contains 8 units with 2 units per floor and single-floor buildings
• HOA & community: Condo-managed community; Quarterly condo fee of $1,100 (total annual recurring fees $4,400); One-time fees total $150; HOA maintenance covers insurance, lawn/land maintenance, legal/accounting, manager, exterior pest control, and reserves; Community amenities include a community pool and streetlights; Non-gated community

Exterior

• Parking: Assigned parking (Parking spot 6 in front of stairs to unit #6)
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1–3 stories); Rear exposure facing south; Entry at building with stairs to upper units (directions reference unit #6 and parking in front of stairs)
• Construction: Concrete block construction; Built in 1990
• Exterior features: Stucco exterior; Single hung windows; Shingle roof; Zero lot line; Cul-de-sac location on a paved road; Wooded area view; Central irrigation

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Microwave; Refrigerator/Freezer
• Bedrooms: 3 bedrooms (split bedroom layout)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Cable prewire; Dining area open to family room; Family room; Open porch/lanai; Screened lanai/porch; Unfurnished; Split bedroom floor plan
• Laundry & utility: Washer and dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (15.0% below list).
• Recommended offer: $251k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Pelican Marsh Elementary School (math 87% / reading 83%, grade A+, #35 of 2,144 statewide, top 2%, 709 students, 29% FRL); North Naples Middle School (math 79% / reading 73%, grade A, #34 of 571 statewide, top 6%, 903 students, 25% FRL); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL) — zoned schools average 27% FRL vs 55% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 75% at this address vs 58% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 424 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 33% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $870 appreciation (0.3% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $168k; list at $295k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,692 (15.0% 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 119 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.08%
• DSCR: 0.91
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.77×
• Total profit: $-18,685
• Equity at exit: $90,034

10-year hold

• IRR: -0.5%
• Equity multiple: 0.95×
• Total profit: $-4,468
• Equity at exit: $111,782

Cash invested: $82,600 (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 34109

• Home prices YoY: 0.1%
• Rents YoY: 0.9%
• Active inventory: 424
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,507 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$123
• HOA: −$367
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-143

Break-even live

Break-even rent $2,688

Max offer price $269,710

Occupancy floor —

Sensitivity live

Price	-10% $24	-5% $-60	+0% $-143	+5% $-227	+10% $-310
Rent	-10% $-341	-5% $-242	+0% $-143	+5% $-44	+10% $55
Rate	-1.0pp $5	-0.5pp $-68	base $-143	+0.5pp $-220	+1.0pp $-297

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2385 Naples Trace Cir #2 Naples, FL	2.0	2.0	1000	$1,900	$1.90	25d	1	0.05mi
2325 Carrington Ct #104 Naples, FL	2.0	2.0	1215	$7,500	$6.17	15d	1	0.08mi
2325 Carrington Ct #202 Naples, FL	2.0	2.0	1200	$8,000	$6.67	15d	1	0.08mi
2345 Carrington Ct Unit 6-102 Naples, FL	2.0	2.0	1213	$1,850	$1.53	25d	1	0.09mi
2215 Chesterbrook Ct #203 Naples, FL	2.0	2.0	1433	$8,000	$5.58	15d	1	0.12mi
2295 Carrington Ct Unit 1-104 Naples, FL	2.0	2.0	1215	$7,500	$6.17	25d	1	0.16mi
2295 Carrington Ct Unit 1-101 Naples, FL	2.0	2.0	1300	$2,000	$1.54	25d	1	0.16mi
2290 Carrington Ct #202 Naples, FL	2.0	2.0	1183	$7,500	$6.34	25d	1	0.18mi
110 Cypress Way E Unit F5 Naples, FL	2.0	2.0	1390	$1,750	$1.26	25d	1	0.34mi
124 Cypress Way E Unit E5 Naples, FL	2.0	2.0	1390	$2,000	$1.44	25d	1	0.37mi
113 Wading Bird Cir #206 Naples, FL	2.0	2.0	1210	$1,800	$1.49	15d	1	0.37mi
113 Wading Bird Cir Unit W-204 Naples, FL	2.0	2.0	1084	$3,000	$2.77	15d	1	0.37mi
185 Grand Oaks Way Unit R204 Naples, FL	2.0	2.0	1200	$2,000	$1.67	25d	1	0.40mi
185 Grand Oaks Way Unit R204 Naples, FL	2.0	2.0	1200	$2,000	$1.67	15d	1	0.40mi
135 Cypress Way E Unit C Naples, FL	2.0	2.0	1377	$2,350	$1.71	15d	1	0.42mi
137 Wading Bird Cir Naples, FL	2.0	2.0	1085	$1,650	$1.52	25d	1	0.42mi
137 Wading Bird Cir Unit 104 Naples, FL	2.0	2.0	1150	$1,800	$1.57	25d	1	0.43mi
145 Cypress Way E Unit East145A Naples, FL	2.0	2.0	1377	$2,300	$1.67	25d	1	0.45mi
144 Cypress Way E Unit 701 Naples, FL	2.0	2.0	1064	$1,900	$1.79	15d	1	0.48mi
151 Cypress Way E Naples, FL	2.0	2.0	1350	$1,200	$0.89	25d	1	0.50mi
154 Cypress Way E Unit 1102 Naples, FL	3.0	2.0	1150	$2,650	$2.30	15d	1	0.52mi
138 Pebble Shores Dr #103 Naples, FL	2.0	2.0	1042	$2,450	$2.35	15d	1	0.53mi
157 Wading Bird Cir #104 Naples, FL	2.0	2.0	1000	$1,300	$1.30	25d	1	0.54mi
120 Pebble Shores Dr #106 Naples, FL	2.0	2.0	1132	$6,000	$5.30	15d	1	0.58mi
9640 Victoria Ln Unit C-305 Naples, FL	2.0	2.0	1191	$4,200	$3.53	15d	1	0.59mi
10805 Queen Anne Ln #203 Naples, FL	2.0	2.0	1252	$4,800	$3.83	25d	1	0.61mi
1020 Palm View Dr Unit C-104 Naples, FL	2.0	2.0	1008	$2,600	$2.58	15d	1	0.62mi
1020 Palm View Dr Unit 103 Naples, FL	2.0	2.0	1088	$1,750	$1.61	25d	1	0.62mi
81 Wickliffe Dr Unit 1073563P Naples, FL	3.0	2.0	1496	$4,681	$3.13	15d	1	0.63mi
186 Pebble Shores Dr #103 Naples, FL	2.0	2.0	1042	$2,500	$2.40	25d	1	0.64mi
9828 Luna Cir Unit H203 Naples, FL	2.0	2.0	1216	$2,650	$2.18	15d	1	0.65mi
681 Palm View Dr Naples, FL	2.0	2.0	1240	$2,100	$1.69	15d	1	0.69mi
729 Palm View Dr Unit D4 Naples, FL	2.0	2.0	1133	$2,250	$1.99	25d	1	0.71mi
9580 Victoria Ln Unit A-202 Naples, FL	2.0	2.0	1191	$1,900	$1.60	15d	1	0.72mi
849 Palm View Dr #28 Naples, FL	2.0	2.0	1360	$3,000	$2.21	25d	1	0.75mi
240 Palm River Blvd Unit C102 Naples, FL	2.0	2.0	1440	$2,995	$2.08	25d	1	0.81mi
241 Palm River Blvd Unit C202 Naples, FL	2.0	2.0	1430	$3,500	$2.45	25d	1	0.84mi
4635 Saint Croix Ln #1214 Naples, FL	2.0	2.0	913	$1,900	$2.08	15d	1	0.91mi
4610 Saint Croix Ln #1027 Naples, FL	3.0	2.0	1196	$4,000	$3.34	25d	1	0.94mi
4620 Saint Croix Ln Naples, FL	2.0	2.0	982	$1,800	$1.83	15d	2	0.95mi

HOA detail condo

• Monthly dues: $367 · $4,404/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $295,000 Active 119 DOM
2. 2026-06-18
   days on market $295,000 Active 116 DOM
3. 2026-06-17
   days on market $295,000 Active 115 DOM
4. 2026-06-16
   days on market $295,000 Active 114 DOM
5. 2026-06-15
   days on market $295,000 Active 113 DOM
6. 2026-06-14
   days on market $295,000 Active 111 DOM
7. 2026-06-10
   days on market $295,000 Active 108 DOM
8. 2026-06-09
   days on market $295,000 Active 107 DOM
9. 2026-06-08
   days on market $295,000 Active 106 DOM
10. 2026-06-07
    days on market $295,000 Active 105 DOM
11. 2026-06-03
    days on market $295,000 Active 101 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $295,000 Active 100 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: $1,040 · $87/mo
• Projected year-2 tax: $2,448 · $204/mo
• Expected delta: +$1,408/yr (+$117/mo · 135.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,083
• − Mortgage interest: −$16,525
• − Property taxes: −$1,040
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,407
• − Management: −$2,407
• − HOA: −$4,404
• − Depreciation: −$8,582
• Taxable loss: −$6,756
• Est. tax savings @ 24.0%: +$1,621
• After-tax cash flow: $-96/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 — Pelican Marsh

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 27,273
• Household income: $92,259
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1712.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 9% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 5% Russian/Polish/Slavic 3%

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: ▲ 0.29%
• Current HPI: 279.357
• Rent YoY: ▲ 0.92%
• 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

+392.5% since first listed

12 events — show timeline

• 2026-06-01 Relisted — NAPLESMLS
• 2026-05-29 Listing Removed — NAPLESMLS
• 2026-05-01 Price Changed $295,000 NAPLESMLS
• 2026-02-19 Listed $308,000 NAPLESMLS
• 2015-12-16 Sold (Public Records) $167,500 Public Records
• 2015-12-16 Price Changed $167,500 NAPLESMLS
• 2015-12-15 Sold (MLS) $167,500 NAPLESMLS
• 2015-10-15 Listing Removed — NAPLESMLS
• 2015-10-15 Price Changed $199,000 NAPLESMLS
• 2015-07-07 Listed $199,000 NAPLESMLS
• 2007-03-29 Sold (Public Records) $215,000 Public Records
• 1989-10-01 Sold (Public Records) $59,900 Public Records

Property tax history

+9.7%/yr

Latest (2025): $1,040 · +2.8% YoY. Source: county tax records.