5483 Rattlesnake Hammock Rd #207 · Lely, FL 34113

$194,000

2 bd · 2.0 ba · 1,107 sqft · Condo · 142 Days on market

Built 1975 $622/mo HOA · 20% of rent ↓ 3% since listing

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Why this score? — see what drove the B- 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 +26.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This inviting 2nd-floor condo in Country Club Manor, a 55 and better boutique community, offers a relaxed Naples lifestyle just minutes from downtown Olde Naples, vibrant Fifth Avenue South, renowned dining and shopping, and the sun-drenched Gulf beaches. Perfectly suited for year-round living or as a seasonal winter escape, the residence combines comfort, convenience, and an ideal location. Light and airy with desirable southwest exposure, the home is filled with natural light throughout the day. The kitchen features stainless steel appliances, white cabinetry, light countertops, crown molding, and a tray ceiling, creating a bright, timeless look. A neutral palette flows throughout the liv

Key facts

• Community pool
• Screened lanai
• Peaceful waterway

Tags

• DESIRABLE SOUTHWEST EXPOSURE
• STAINLESS STEEL APPLIANCES
• SCREENED LANAI
• PEACEFUL WATERWAY
• COMMUNITY POOL
• CABLE AND INTERNET INCLUDED

Property features AI

Finance

• Other: Unit in a complex of 144 units; 24 units in the building; 2 units per floor; single-story building; Property restrictions: no commercial use, no RV
• Financial info: Total annual recurring HOA fees stated; Total one-time fees stated
• HOA & community: Mandatory condo association; Quarterly condo fee; Condo management; Community pool; BBQ/picnic area; Streetlights; Non-gated condo/hotel community; HOA covers cable, insurance, internet/Wi-Fi access, irrigation water, lawn/land maintenance, manager, recreation facilities, sewer, trash removal, and water

Exterior

• Parking: 1 assigned parking space; Guest parking; Detached 1-car carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in a low-rise (1–3) building; Rear exposure faces southwest; Located in Country Club Manor development
• Construction: Concrete block construction; Stucco exterior; Built-up or flat roof; Built in 1975; No canal/dock (none)
• Exterior features: Pond; Water view; Central irrigation

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (split bedroom layout)
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Window unit(s)
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Walk-in closet; Window coverings; Screened lanai/porch; Common elevator
• Laundry & utility: Washer; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $194k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $194k).
• Recommended offer: $171k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; 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: Lely Elementary School (math 45% / reading 46%, grade D-, #1,247 of 2,144 statewide, top 59%, 499 students, 62% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL) — zoned schools at 58% FRL track the district average.
• Zoned-school proficiency averages 42% at this address vs 58% district-wide (-16 pts) — the specific schools serving this property underperform the Collier average; the district grade overstates school quality for this exact location.
• 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 $3,142/mo this rent would consume 46% 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $54k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($171k) is reasonable based on typical stale-listing flexibility.

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 4→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1975 — 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 D-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. 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: 1.62% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.48%
• DSCR: 1.51
• GRM: 5.1

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: 2.9%
• Equity multiple: 1.12×
• Total profit: $6,301
• Equity at exit: $28,926

10-year hold

• IRR: 15.7%
• Equity multiple: 2.49×
• Total profit: $80,919
• Equity at exit: $16,774

Cash invested: $54,320 (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: 5.1×

Monthly cashflow live

• Estimated rent: $3,142 high
• Mortgage (P&I): −$1,017
• Tax est. 1.5%: −$242 /mo · $2,910/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$622
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $453

Break-even live

Break-even rent $2,569

Max offer price $194,000

Occupancy floor 81%

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	14d	1	0.05mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	14d	2	0.05mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	23d	1	0.13mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	23d	1	0.13mi
5595 Greenwood Cir #92 Naples, FL	3.0	2.0	1450	$5,000	$3.45	23d	1	0.15mi
5535 Rattlesnake Hammock Rd #302 Naples, FL	2.0	2.0	1205	$2,800	$2.32	23d	1	0.24mi
360 Charlemagne Blvd Unit D105 Naples, FL	2.0	2.0	1082	$3,200	$2.96	23d	1	0.24mi
5502 Greenwood Cir #1 Naples, FL	3.0	2.0	1450	$2,400	$1.66	23d	1	0.24mi
4410 Chantelle Dr Unit H-205 Naples, FL	2.0	2.0	1349	$3,500	$2.59	14d	1	0.26mi
232 Pebble Beach Blvd #104 Naples, FL	3.0	2.0	1298	$1,975	$1.52	23d	1	0.33mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	21d	1	0.34mi
5778 Greenwood Cir Naples, FL	3.0	2.0	1450	$4,000	$2.76	23d	1	0.34mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	23d	1	0.34mi
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	23d	1	0.37mi
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	23d	1	0.40mi
200 Valley Stream Dr Unit 8B Naples, FL	2.0	2.0	979	$1,750	$1.79	23d	1	0.50mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	23d	1	0.52mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	21d	1	0.52mi
4977 Pepper Cir #205 Naples, FL	2.0	2.0	1250	$2,250	$1.80	21d	1	0.58mi
413 Augusta Blvd #302 Naples, FL	2.0	2.0	1390	$5,500	$3.96	21d	1	0.68mi
452 Bristle Cone Ln #27 Naples, FL	2.0	2.0	1129	$2,000	$1.77	23d	1	0.69mi
4911 Catalina Dr Unit 22 Naples, FL	3.0	1.5	1200	$1,950	$1.62	14d	1	0.70mi
520 Augusta Blvd Unit B204 Naples, FL	3.0	2.0	1294	$2,200	$1.70	23d	1	0.70mi
4907 Catalina Dr Unit 45 Naples, FL	3.0	2.0	1270	$1,900	$1.50	14d	1	0.72mi
4556 Andover Way Unit E104 Naples, FL	2.0	2.0	1072	$5,000	$4.66	14d	1	0.72mi
4556 Andover Way Unit E106 Naples, FL	2.0	2.0	1172	$1,900	$1.62	14d	1	0.72mi
5708 Deauville Cir Unit 308 Naples, FL	3.0	2.0	1500	$4,500	$3.00	23d	1	0.73mi
555 Augusta Blvd Unit 3-1 Naples, FL	2.0	2.0	1249	$4,200	$3.36	23d	1	0.78mi
5733 Deauville Cir Unit G308 Naples, FL	3.0	2.0	1427	$3,600	$2.52	23d	1	0.78mi
5792 Deauville Cir Unit A103 Naples, FL	2.0	2.0	1209	$3,900	$3.23	23d	1	0.80mi
905 Augusta Blvd Naples, FL	2.0	2.0	1125	$1,850	$1.64	23d	1	0.80mi
5741 Deauville Cir Unit F108 Naples, FL	3.0	2.0	1427	$3,600	$2.52	23d	1	0.81mi
575 Augusta Blvd Naples, FL	3.0	2.0	1500	$2,100	$1.40	23d	1	0.81mi
4830 Cortez Cir Naples, FL	3.0	2.0	1218	$3,100	$2.55	23d	1	0.81mi
4900 Biscayne Dr #22 Naples, FL	2.0	2.0	1108	$1,800	$1.62	21d	1	0.83mi
315 Saint Andrews Blvd Unit A25 Naples, FL	2.0	2.0	1126	$1,530	$1.36	23d	1	0.84mi
709 Augusta Blvd Unit 709-5 Naples, FL	3.0	2.0	1480	$4,000	$2.70	14d	1	0.84mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	23d	1	0.85mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	14d	1	0.85mi
701 Augusta Blvd Unit 701-8 Naples, FL	2.0	2.0	1250	$4,800	$3.84	14d	1	0.85mi

HOA detail condo

• Monthly dues: $622 · $7,464/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $194,000 Active 142 DOM
2. 2026-06-17
   days on market $194,000 Active 141 DOM
3. 2026-06-16
   days on market $194,000 Active 140 DOM
4. 2026-06-15
   days on market $194,000 Active 139 DOM
5. 2026-06-14
   days on market $194,000 Active 137 DOM
6. 2026-06-10
   days on market $194,000 Active 134 DOM
7. 2026-06-09
   days on market $194,000 Active 133 DOM
8. 2026-06-08
   days on market $194,000 Active 132 DOM
9. 2026-06-07
   days on market $194,000 Active 131 DOM
10. 2026-06-03
    days on market $194,000 Active 127 DOM
11. 2026-06-02
    days on market $194,000 Active 126 DOM
12. 2026-06-01
    days on market $194,000 Active 125 DOM
13. 2026-05-31
    days on market $194,000 Active 124 DOM
14. 2026-05-30
    days on market $194,000 Active 123 DOM
15. 2026-02-26
    price $194,000
16. 2026-01-27
    listed $199,000 Active

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 4 d/yr ≥107°F today · 16 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: $37,707
• − Mortgage interest: −$10,867
• − Property taxes: −$2,910
• − Insurance: −$1,768
• − Repairs & maintenance: −$3,017
• − Management: −$3,017
• − HOA: −$7,464
• − Depreciation: −$5,644
• Taxable income: $3,022
• Est. tax owed @ 24.0%: −$725
• After-tax cash flow: $4,714/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

• Score: 66/100
• State rank: #586
• US rank: #11224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lely, 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

-2.5% since first listed

2 events — show timeline

• 2026-02-26 Price Changed $194,000 NAPLESMLS
• 2026-01-27 Listed $199,000 NAPLESMLS