14890 Pleasant Bay Ln #3208 · Island Walk, FL 34119

$174,900

1 bd · 1.0 ba · 800 sqft · Condo · 151 Days on market

Built 2004 Good condition $325/mo HOA · 17% of rent ↓ 7% since listing

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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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• DSCR +3.5/10.0
• Livability +3.2/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors! Amazing opportunity to own your piece of paradise for lowest listed price in North Naples! This cozy and spacious 1 bedroom 1 bath condo offers an open floor plan with vaulted ceilings, 2 oversized master closet spaces, extra storage space in the dining room, an in-unit laundry room, built-in desk nook with a beautiful lake and water feature view. Vanderbilt Place is gated offering a community pool, Recreation room, and a dog play/run area all within 15 minutes from our top-rated beaches, and minutes from shopping and dining. Great Collier County school zone (Oakridge Middle School and Gulf Coast High School).

Key facts

• Open floor plan
• Built in desk nook
• In unit laundry room

Tags

• OPEN FLOOR PLAN
• VAULTED CEILINGS
• OVERSIZED MASTER CLOSET
• IN UNIT LAUNDRY ROOM
• BUILT IN DESK NOOK
• LAKE AND WATER FEATURE VIEW

Property features AI

Finance

• Other: Complex contains 80 units; building has 16 units and 2 total floors; Unit number/lot unit 3208; Development: Camden Cove (sub-condo: Vanderbilt Place); Restrictions: limited number of vehicles; no RVs; no trucks
• HOA & community: Mandatory HOA (professional management); Monthly condo fee of $325; Annual recurring fees approximately $3,900; HOA covers insurance, irrigation water, lawn/land maintenance, legal/accounting, management, exterior pest control, recreation facilities, reserves, sewer, street lights, street maintenance, trash removal, and water; Community amenities include clubhouse, community pool, BBQ/picnic area, community park, sidewalks, streetlights, and underground utilities; Gated community

Exterior

• Parking: 2 assigned parking spaces; Guest parking available
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden apartment in a low-rise (1–3) building; 2-story building; Rear exposure faces southwest; Corner, regular lot
• Construction: Built in 2004; Concrete block and wood frame construction; Vinyl siding exterior; Shingle roof; Garden-style apartment
• Exterior features: Automatic sprinkler system; Double-hung windows; Gated community; Lake, landscaped area, and water feature views

Interior

• Kitchen: Pantry; Cooktop (electric); Range; Microwave; Dishwasher; Disposal; Refrigerator/Freezer
• Bedrooms: 1 bedroom (split bedroom floor plan)
• Flooring: Carpet
• Bathrooms: 1 full bathroom with shower-only master bath
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Vaulted ceiling; Pantry; Pull-down attic stairs; Smoke detectors; Dining area combined with living area; Laundry inside the residence; Unfurnished
• Laundry & utility: Washer and dryer included; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-44 ($-532/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (3.7% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#692 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B+; Watch: health & safety D, amenities F, commute 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.
• Zoned schools: Big Cypress Elementary School (math 63% / reading 61%, grade B, #608 of 2,144 statewide, top 29%, 742 students, 47% FRL); Oakridge Middle School (math 75% / reading 67%, grade A, #59 of 571 statewide, top 11%, 1,183 students, 26% FRL); Gulf Coast High School (math 57% / reading 68%, grade B-, #93 of 667 statewide, top 14%, 2,447 students, 20% FRL) — zoned schools average 31% FRL vs 55% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-2.5%/yr); 590 active listings in the ZIP; 19 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).

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

• It's been on market 151 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $153,912 (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 151 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.08% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 7.7

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: -22.3%
• Equity multiple: 0.26×
• Total profit: $-36,463
• Equity at exit: $26,078

10-year hold

• IRR: -30.8%
• Equity multiple: -0.14×
• Total profit: $-55,813
• Equity at exit: $15,122

Cash invested: $48,972 (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 34119

• Rents YoY: -2.5%
• Active inventory: 590
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$325
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-44

Break-even live

Break-even rent $1,941

Max offer price $168,483

Occupancy floor 97%

Sensitivity live

Price	-10% $77	-5% $16	+0% $-44	+5% $-105	+10% $-165
Rent	-10% $-193	-5% $-119	+0% $-44	+5% $30	+10% $105
Rate	-1.0pp $44	-0.5pp $0	base $-44	+0.5pp $-90	+1.0pp $-136

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14890 Pleasant Bay Ln Naples, FL	1.0–2.0	1.0–2.0	1100	$1,800	$1.64	15d	2	0.03mi
14815 Triangle Bay Dr Naples, FL	2.0–4.0	2.0–4.0	1214	$1,411	$1.16	15d	11	0.09mi
8820 Walter Way Unit 5215 Naples, FL	1.0	1.0	815	$2,299	$2.82	15d	1	0.66mi
8820 Walter Way Unit 5107 Naples, FL	1.0	1.0	815	$2,249	$2.76	25d	1	0.66mi
8264 Key Royal Cir #831 Naples, FL	2.0	2.0	1020	$1,850	$1.81	25d	1	0.85mi
8274 Key Royal Cir Naples, FL	2.0	1.0	946	$1,700	$1.80	25d	2	0.85mi
8271 Key Royal Cir #924 Naples, FL	2.0	2.0	1100	$2,100	$1.91	25d	1	0.86mi
8284 Key Royal Cir #1323 Naples, FL	2.0	1.0	1010	$1,850	$1.83	25d	1	0.88mi
8244 Key Royal Cir #615 Naples, FL	2.0	1.0	946	$1,850	$1.96	25d	1	0.91mi
8294 Key Royal Cir #1633 Naples, FL	2.0	1.0	943	$1,750	$1.86	25d	1	0.94mi
8297 Key Royal Ln Naples, FL	2.0	1.0–2.0	981	$2,250	$2.29	25d	2	0.95mi
8633 Addison Place Cir Naples, FL	1.0–3.0	1.0–2.0	1077	$2,000	$1.86	15d	31	0.96mi
8304 Key Royal Cir #1712 Naples, FL	2.0	1.0	1000	$1,700	$1.70	15d	1	0.98mi
8304 Key Royal Cir #1712 Naples, FL	2.0	1.0	946	$1,750	$1.85	25d	1	0.98mi
15500 Mark Ln Naples, FL	1.0–3.0	1.0–2.0	1090	$2,020	$1.85	15d	27	1.13mi
7905 Preserve Cir Naples, FL	2.0–3.0	1.0–2.0	1272	$1,750	$1.38	15d	3	1.35mi
7975 Preserve Cir #1013 Naples, FL	1.0	1.0	945	$1,450	$1.53	23d	1	1.38mi
7940 Preserve Cir Naples, FL	1.0	1.0	845	$1,750	$2.07	15d	1	1.45mi
7940 Preserve Cir #916 Naples, FL	1.0	1.0	845	$1,750	$2.07	25d	1	1.45mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $174,900 Active 151 DOM
2. 2026-06-18
   days on market $174,900 Active 148 DOM
3. 2026-06-17
   days on market $174,900 Active 147 DOM
4. 2026-06-16
   days on market $174,900 Active 146 DOM
5. 2026-06-15
   days on market $174,900 Active 145 DOM
6. 2026-06-14
   days on market $174,900 Active 143 DOM
7. 2026-06-10
   days on market $174,900 Active 140 DOM
8. 2026-06-09
   days on market $174,900 Active 139 DOM
9. 2026-06-08
   days on market $174,900 Active 138 DOM
10. 2026-06-07
    days on market $174,900 Active 137 DOM
11. 2026-06-03
    days on market $174,900 Active 133 DOM
12. 2026-06-03
    remarks 638-char remark
13. 2026-06-03
    listed $174,900 Active 132 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $22,623
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$3,900
• − Depreciation: −$5,088
• Taxable loss: −$3,280
• Est. tax savings @ 24.0%: +$787
• After-tax cash flow: $255/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained townhouse is in good condition with a good roof and exterior. It has a good floor plan and is located in a desirable neighborhood with a community pool and dog play/run area. The property is move-in ready and would benefit from some exterior painting and carpet replacement to further increase its value.

Value-add opportunities

• Both Paint the exterior siding and trim — Painting the exterior can enhance the curb appeal and increase both resale and rental value.
• Both Replace worn-out carpet — Replacing worn-out carpet can improve the living space and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding and trim — Painting the exterior can enhance the curb appeal and increase both resale and rental value. ↑
• Both Replace worn-out carpet — Replacing worn-out carpet can improve the living space and increase both resale and rental value. ↑

ⓘ 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 — Island Walk

• Score: 64/100
• State rank: #692
• US rank: #14444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 36,807
• Household income: $113,391
• Rent vs Own: 16.4% rent · 83.6% own
• Severe rent burden: 741.0

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 20% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 17% · Canada, Jamaica, Dominican Republic
• Languages at home: 78% English-only · Spanish 15% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -243.12%
• Current HPI: 269.3208
• Rent YoY: ▼ -2.51%
• 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

-7.5% since first listed

3 events — show timeline

• 2026-04-20 Price Changed $174,900 NAPLESMLS
• 2026-03-17 Price Changed $184,000 NAPLESMLS
• 2026-01-21 Listed $189,000 NAPLESMLS