1549 Sandpiper St #80 · Naples, FL 34102

$320,000

2 bd · 2.0 ba · 1,073 sqft · Condo public records · 180 Days on market

Built 1978 $836/mo HOA · 16% of rent

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Bask in quiet coastal elegance inside this beautifully updated 2-bed, 2-bath second-floor condo in Old Naples , a low-density community within walking distance to downtown Naples and the Gulf beaches. This bright and airy residence captures the essence of relaxed Southwest Florida living, with natural light filtering through impact-rated windows and classic plantation shutters. Be sure you see the Lifestyle video! The screened 21 foot southern lanai, creates a calming space to enjoy morning coffee, evening breezes, or peaceful moments throughout the day. A timeless upgraded kitchen. .. understated luxury with clean lines, granite counters, a crisp tile backsplash, and ample cabinetry. Split

Key facts

• Split-bedroom layout
• Added storage
• Screened lanai

Tags

• UPDATED KITCHEN
• SCREENED LANAI
• SPLIT-BEDROOM LAYOUT
• UPDATED ENSUITE BATH
• PICKLEBALL TENNIS POOL
• ADDED STORAGE

Property features AI

Finance

• Other: Part of a complex with 92 units (4 units in building); 2 units per floor; Unit is one of 2 units per floor; Possession at closing
• HOA & community: Mandatory HOA (professional management); Quarterly condo fee; HOA covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserves, sewer, street lights, and water; Community amenities include bike storage, community pool, community room, pickleball, and tennis court; Non-gated community; Total annual recurring HOA fees listed

Exterior

• Parking: 2 assigned parking spaces
• Security: Impact resistant windows (storm protection)
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential end-unit; Low-rise building (1-3 stories); Built in 1978; Stucco exterior; Rear exposure faces south; Located in the Royal Bay Villas development; Situated on a cul-de-sac
• Construction: Concrete block construction; Built-up or flat roof
• Exterior features: Storage; Impact resistant windows; Impact resistant storm protection

Interior

• Kitchen: Pantry; Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms; Two master suites; Primary/master suite located upstairs
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms; Master baths with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Pantry; Smoke detectors; Window coverings; Great room floor plan; Dining area combined with living room; Laundry room inside the residence; Screened lanai/porch; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $965 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $320k).
• Recommended offer: $282k (12.0% 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.
• Zoned schools: Lake Park Elementary School (math 76% / reading 77%, grade A, #185 of 2,144 statewide, top 9%, 502 students, 39% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• 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 23d 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

• In year one you build about $15k of equity ($2k loan paydown + $13k 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 $90k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $110k; list at $320k implies a 191% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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: 1.68% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.64%
• DSCR: 1.83
• GRM: 5.0

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: 26.3%
• Equity multiple: 2.65×
• Total profit: $147,887
• Equity at exit: $163,809

10-year hold

• IRR: 29.4%
• Equity multiple: 6.27×
• Total profit: $472,135
• Equity at exit: $269,178

Cash invested: $89,600 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 614
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $5,371 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$204 /mo · $2,449/yr
• Insurance: −$133
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$836
• Vacancy / Maint / Mgmt: −$1,128
• Net cashflow: $965

Break-even live

Break-even rent $4,149

Max offer price $320,000

Occupancy floor 77%

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1549 Sandpiper St #36 Naples, FL	2.0	2.0	1073	$2,195	$2.05	23d	1	0.03mi
105 Georgetown Blvd #105 Naples, FL	2.0	2.0	1450	$6,500	$4.48	23d	1	0.09mi
24 Rivard Rd Naples, FL	3.0	2.0	1314	$6,500	$4.95	23d	1	0.09mi
1437 Sandpiper St Naples, FL	3.0	2.0	1200	$16,000	$13.33	23d	1	0.10mi
69 Georgetown Blvd #69 Naples, FL	2.0	2.0	1450	$5,500	$3.79	23d	1	0.12mi
91 Georgetown Blvd #91 Naples, FL	2.0	2.0	1450	$7,000	$4.83	23d	1	0.12mi
84 Georgetown Blvd #84 Naples, FL	2.0	2.0	1450	$5,500	$3.79	23d	1	0.17mi
1625 Chesapeake Ave #203 Naples, FL	2.0	2.0	1200	$4,500	$3.75	23d	1	0.18mi
1605 Chesapeake Ave #2 Naples, FL	2.0	1.0	850	$2,300	$2.71	23d	1	0.19mi
235 Lanchester Ct #42 Naples, FL	2.0	2.0	1200	$2,350	$1.96	23d	1	0.21mi
12 Knights Bridge Rd Unit A32 Naples, FL	2.0	2.0	1095	$3,200	$2.92	21d	1	0.21mi
1686 Blue Point Ave Unit B1 Naples, FL	2.0	2.0	1198	$6,500	$5.43	23d	1	0.22mi
1686 Blue Point Ave Naples, FL	2.0	2.0	1057	$5,500	$5.20	13d	2	0.22mi
1751 Smugglers Cv Unit 2 1 Naples, FL	2.0	1.0	800	$1,995	$2.49	13d	1	0.22mi
3001 Sandpiper Bay Cir Unit B106 Naples, FL	2.0	2.0	1100	$1,950	$1.77	13d	1	0.22mi
1535 Chesapeake Ave Unit A2 Naples, FL	2.0	2.0	1080	$2,000	$1.85	23d	1	0.23mi
3002 Sandpiper Bay Cir Unit A203 Naples, FL	2.0	2.0	1200	$2,200	$1.83	23d	1	0.23mi
9 Knights Bridge Rd #30 Naples, FL	2.0	2.0	1296	$3,000	$2.31	13d	1	0.24mi
280 Lanchester Ct #38 Naples, FL	2.0	2.0	1325	$2,500	$1.89	21d	1	0.25mi
1501 Chesapeake Ave Unit 1296210P Naples, FL	2.0	2.0	1377	$4,110	$2.98	13d	1	0.25mi
3011 Sandpiper Bay Cir Unit C102 Naples, FL	2.0	2.0	1200	$1,900	$1.58	23d	1	0.27mi
3062 Sandpiper Bay Cir Naples, FL	2.0	2.0	1150	$4,250	$3.70	23d	2	0.29mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	13d	1	0.30mi
3032 Sandpiper Bay Cir Naples, FL	2.0	2.0	1150	$4,100	$3.57	23d	2	0.30mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$4,050	$3.81	23d	2	0.31mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$3,950	$3.72	21d	3	0.31mi
1186 Cherrystone Ct Naples, FL	2.0	2.0	1163	$1,995	$1.72	23d	1	0.31mi
1376 Chesapeake Ave #2 Naples, FL	2.0	2.0	1218	$2,300	$1.89	23d	1	0.32mi
1200 Cherrystone Ct Unit A203 Naples, FL	2.0	2.0	1276	$4,950	$3.88	23d	1	0.34mi
3051 Sandpiper Bay Cir Naples, FL	2.0	2.0	1150	$4,000	$3.48	23d	2	0.35mi
3051 Sandpiper Bay Cir Unit I304 Naples, FL	2.0	2.0	1200	$3,000	$2.50	13d	1	0.35mi
3041 Sandpiper Bay Cir Unit H201 Naples, FL	2.0	2.0	1100	$1,999	$1.82	23d	1	0.36mi
1165 Clam Ct #7 Naples, FL	2.0	2.5	1449	$2,900	$2.00	23d	1	0.36mi
1666 Osprey Ave #203 Naples, FL	2.0	2.0	1200	$7,000	$5.83	23d	1	0.44mi
1120 Little Neck Ct Unit E40 Naples, FL	3.0	2.0	1400	$2,999	$2.14	23d	1	0.45mi
1353 Pelican Ave Naples, FL	2.0	2.0	1203	$8,500	$7.07	23d	1	0.49mi
1950 Mayfair ST Unit 817 Naples, FL	1.0	1.0	710	$3,295	$4.64	13d	1	0.51mi
1950 Mayfair ST Unit 716 Naples, FL	1.0	1.0	710	$3,330	$4.69	13d	1	0.51mi
1950 Mayfair ST Unit 802 Naples, FL	1.0	1.0	710	$3,355	$4.73	13d	1	0.51mi
1950 Mayfair ST Unit 1021 Naples, FL	1.0	1.0	710	$3,520	$4.96	13d	1	0.51mi

HOA detail condo

• Monthly dues: $836 · $10,032/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2025-11-25
   listed $320,000 Active
2. 2025-07-31
   historical
3. 2025-04-22
   price $349,000
4. 2025-04-22
   price $349,000
5. 2025-02-11
   price $355,000
6. 2025-02-11
   price $355,000
7. 2024-12-20
   listed $365,000 Active
8. 2024-12-20
   listed $365,000 Active
9. 2024-09-30
   historical
10. 2024-01-17
    listed $395,000 Active
11. 2014-04-14
    soldstatus $110,000
12. 2014-04-10
    soldstatus $110,000
13. 2014-04-10
    price $117,500
14. 2013-10-09
    listed $110,000
15. 2002-08-30
    soldstatus $136,500

ⓘ 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: $2,449 · $204/mo
• Projected year-2 tax: $2,656 · $221/mo
• Expected delta: +$207/yr (+$17/mo · 8.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $64,458
• − Mortgage interest: −$17,925
• − Property taxes: −$2,449
• − Insurance: −$6,718
• − Repairs & maintenance: −$5,157
• − Management: −$5,157
• − HOA: −$10,032
• − Depreciation: −$9,309
• Taxable income: $7,711
• Est. tax owed @ 24.0%: −$1,851
• After-tax cash flow: $9,734/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

+134.4% since first listed

15 events — show timeline

• 2025-11-25 Listed $320,000 NAPLESMLS
• 2025-07-31 Listing Removed — NAPLESMLS
• 2025-04-22 Price Changed $349,000 NAPLESMLS
• 2025-04-22 Price Changed $349,000 MIML
• 2025-02-11 Price Changed $355,000 NAPLESMLS
• 2025-02-11 Price Changed $355,000 MIML
• 2024-12-20 Listed $365,000 MIML
• 2024-12-20 Listed $365,000 NAPLESMLS
• 2024-09-30 Listing Removed — NAPLESMLS
• 2024-01-17 Listed $395,000 NAPLESMLS
• 2014-04-14 Sold (Public Records) $110,000 Public Records
• 2014-04-10 Price Changed $117,500 NAPLESMLS
• 2014-04-10 Sold (MLS) $110,000 NAPLESMLS
• 2013-10-09 Listed $110,000 NAPLESMLS
• 2002-08-30 Sold (Public Records) $136,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,449 · +10.0% YoY. Source: county tax records.