3383 Erick Lake Dr #2902 · Pelican Marsh, FL 34109

$295,000

2 bd · 2.0 ba · 1,276 sqft · Condo public records · 25 Days on market

Built 1992 $631/mo HOA · 21% 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 +14.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

One or more photo(s) has been virtually staged, AI generated or rendered. New to the market! Regent Park Villa is truly one of North Naples’ best kept secrets. This two bedroom plus den attached villa home is move-in ready and lives like a single family home without all the maintenance. It features high ceilings, a large open great room, diagonal tile (no carpet, ) new HVAC (2026,) newer water heater (2024) as well as newer luxury waterproof luxury vinyl flooring in both bedrooms. There is an eat-in kitchen plus separate dining area. Flexible floor plan (some owners use the dining area as a den/office. ) Screened entry plus screened lanai. Also located just steps from one of two hea

Key facts

• Screened entry
• New hvac
• Newer water heater

Tags

• HIGH CEILINGS
• LARGE OPEN GREAT ROOM
• NEW HVAC
• NEWER WATER HEATER
• EAT-IN KITCHEN
• SCREENED ENTRY

Property features AI

Finance

• Other: Non-gated community; 138 units in complex; 3 units in building; 1 unit per floor; 1 floor
• Financial info: Total annual recurring fees $7,575
• HOA & community: Mandatory HOA; HOA fee $1,800 quarterly; Master HOA fee $375 annually; Professional management; Community pool; Community room; Bike storage; Extra storage; Sidewalks and streetlights; Underground utilities; Maintenance covers irrigation water, lawn/land maintenance, pest control (exterior), sewer, street maintenance, street lights, trash removal, water, repairs, reserves, legal/accounting, manager, recreation facilities

Exterior

• Parking: Covered deeded parking; Guest parking; Paved parking; Attached 1-car carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Attached villa; 1 story / ranch; Rear exposure facing north; Residential property in the REGENT PARK development; Zero lot line
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Built in 1992
• Exterior features: Automatic sprinkler system; Outdoor storage; Shutters (electric)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Concrete; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with separate tub and shower
• Heating & cooling: Central electric heat; Air purifier; Ceiling fans
• Interior features: Cable prewire; High-speed internet available; Window coverings; Den (study); Great room; Screened lanai/porch; Guest room; Guest bath; Laundry in residence; Breakfast bar; Dining (living); Eat-in kitchen; Negotiable furnished status
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $36 ($434/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $291k (1.5% below list) — sets the bar for market timing.

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) — zoned schools average 29% FRL vs 55% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 85% at this address vs 58% district-wide (+27 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 21d 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 39% 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 25 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $295k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: 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 $290,575 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 8.1

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: -2.1%
• Equity multiple: 0.90×
• Total profit: $-8,189
• Equity at exit: $90,034

10-year hold

• IRR: 1.8%
• Equity multiple: 1.19×
• Total profit: $15,752
• 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: 8.1×

Monthly cashflow live

• Estimated rent: $3,033 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$59 /mo · $712/yr
• Insurance: −$123
• HOA: −$631
• Vacancy / Maint / Mgmt: −$637
• Net cashflow: $36

Break-even live

Break-even rent $2,988

Max offer price $295,000

Occupancy floor 94%

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
10805 Queen Anne Ln #203 Naples, FL	2.0	2.0	1252	$4,800	$3.83	23d	1	0.12mi
4635 Saint Croix Ln #1214 Naples, FL	2.0	2.0	913	$1,900	$2.08	14d	1	0.23mi
4610 Saint Croix Ln #1027 Naples, FL	3.0	2.0	1196	$4,000	$3.34	23d	1	0.26mi
4620 Saint Croix Ln Naples, FL	2.0	2.0	982	$1,800	$1.83	14d	2	0.27mi
300 Diamond Cir #302 Naples, FL	3.0	2.0	1755	$2,600	$1.48	23d	1	0.28mi
4650 Saint Croix Ln #725 Naples, FL	2.0	2.0	913	$2,150	$2.35	14d	1	0.29mi
600 Diamond Cir #607 Naples, FL	2.0	2.0	1680	$4,800	$2.86	23d	1	0.30mi
4720 Saint Croix Ln #137 Naples, FL	2.0	2.0	1200	$2,200	$1.83	23d	1	0.30mi
700 Diamond Cir #706 Naples, FL	3.0	2.0	1786	$2,700	$1.51	23d	1	0.31mi
98 Chardon Pl Unit 1073520P Naples, FL	3.0	2.0	1646	$5,886	$3.58	14d	1	0.33mi
194 Wickliffe Dr Naples, FL	3.0	2.0	1798	$3,500	$1.95	23d	1	0.34mi
4680 Saint Croix Ln #512 Naples, FL	3.0	2.0	1196	$2,490	$2.08	23d	1	0.34mi
4680 Saint Croix Ln Naples, FL	1.0–3.0	1.0–2.0	931	$2,000	$2.15	14d	2	0.35mi
4710 Saint Croix Ln #217 Naples, FL	2.0	2.0	1045	$2,200	$2.11	23d	1	0.36mi
81 Wickliffe Dr Unit 1073563P Naples, FL	3.0	2.0	1496	$4,681	$3.13	14d	1	0.43mi
4945 Cougar Ct S #105 Naples, FL	2.0	2.0	1377	$2,750	$2.00	14d	1	0.54mi
4940 Cougar Ct S Unit 1545947P Naples, FL	2.0	2.0	1367	$2,185	$1.60	14d	1	0.55mi
4910 Cougar Ct N Unit 1-205 Naples, FL	2.0	2.0	1377	$2,050	$1.49	14d	1	0.56mi
4965 Sandra Bay Dr #102 Naples, FL	2.0	2.0	1377	$2,200	$1.60	14d	1	0.56mi
5000 Immokalee Rd Naples, FL	1.0–3.0	1.0–2.0	1115	$3,186	$2.86	14d	68	0.61mi
2345 Carrington Ct Unit 6-102 Naples, FL	2.0	2.0	1213	$1,850	$1.53	23d	1	0.63mi
124 Cypress Way E Unit E5 Naples, FL	2.0	2.0	1390	$2,000	$1.44	23d	1	0.65mi
2385 Naples Trace Cir #2 Naples, FL	2.0	2.0	1000	$1,900	$1.90	23d	1	0.66mi
4950 Deerfield Way #202 Naples, FL	2.0	2.0	1388	$2,000	$1.44	21d	1	0.67mi
110 Cypress Way E Unit F5 Naples, FL	2.0	2.0	1390	$1,750	$1.26	23d	1	0.67mi
2325 Carrington Ct #104 Naples, FL	2.0	2.0	1215	$7,500	$6.17	14d	1	0.68mi
2325 Carrington Ct #202 Naples, FL	2.0	2.0	1200	$8,000	$6.67	14d	1	0.68mi
2290 Carrington Ct #202 Naples, FL	2.0	2.0	1183	$7,500	$6.34	23d	1	0.68mi
5145 Cobble Creek Ct #202 Naples, FL	2.0	2.0	1798	$2,600	$1.45	21d	1	0.68mi
4960 Deerfield Way Unit E102 Naples, FL	2.0	2.0	1202	$4,250	$3.54	14d	1	0.69mi
4910 Deerfield Way #103 Naples, FL	2.0	2.0	1200	$4,800	$4.00	21d	1	0.70mi
4910 Deerfield Way Unit A-203 Naples, FL	2.0	2.0	1388	$5,500	$3.96	14d	1	0.70mi
2295 Carrington Ct Unit 1-104 Naples, FL	2.0	2.0	1215	$7,500	$6.17	23d	1	0.71mi
2295 Carrington Ct Unit 1-101 Naples, FL	2.0	2.0	1300	$2,000	$1.54	23d	1	0.71mi
2365 Harmony Ln #104 Naples, FL	2.0	2.0	1592	$7,500	$4.71	23d	1	0.72mi
144 Cypress Way E Unit 701 Naples, FL	2.0	2.0	1064	$1,900	$1.79	14d	1	0.72mi
208 Erie Dr Unit 1355591P Naples, FL	3.0	2.0	1754	$5,550	$3.16	14d	1	0.72mi
4970 Deerfield Way Unit F-203 Naples, FL	2.0	2.0	1388	$1,990	$1.43	14d	1	0.72mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.5	1202	$3,510	$2.92	23d	1	0.75mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.0	1202	$1,590	$1.32	14d	1	0.75mi

HOA detail condo

• Monthly dues: $631 · $7,572/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $295,000 Active 25 DOM
2. 2026-06-17
   days on market $295,000 Active 24 DOM
3. 2026-06-16
   days on market $295,000 Active 23 DOM
4. 2026-06-15
   days on market $295,000 Active 22 DOM
5. 2026-06-14
   days on market $295,000 Active 20 DOM
6. 2026-06-10
   days on market $295,000 Active 17 DOM
7. 2026-06-09
   days on market $295,000 Active 16 DOM
8. 2026-06-08
   days on market $295,000 Active 15 DOM
9. 2026-06-07
   days on market $295,000 Active 14 DOM
10. 2026-06-03
    days on market $295,000 Active 10 DOM
11. 2026-06-02
    days on market $295,000 Active 9 DOM
12. 2026-06-01
    days on market $295,000 Active 8 DOM
13. 2026-05-31
    days on market $295,000 Active 7 DOM
14. 2026-05-30
    days on market $295,000 Active 6 DOM
15. 2026-05-24
    listed $295,000 Active
16. 1999-03-15
    soldstatus $95,000
17. 1993-12-20
    soldstatus $80,500

ⓘ 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: $712 · $59/mo
• Projected year-2 tax: $2,448 · $204/mo
• Expected delta: +$1,737/yr (+$145/mo · 244.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 17% 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: $36,401
• − Mortgage interest: −$16,525
• − Property taxes: −$712
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,912
• − Management: −$2,912
• − HOA: −$7,572
• − Depreciation: −$8,582
• Taxable loss: −$4,288
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $1,463/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

+266.5% since first listed

3 events — show timeline

• 2026-05-24 Listed $295,000 NAPLESMLS
• 1999-03-15 Sold (Public Records) $95,000 Public Records
• 1993-12-20 Sold (Public Records) $80,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $712 · +3.3% YoY. Source: county tax records.