5693 Rattlesnake Hamm Rd Unit A-204 · Lely, FL 34113

$289,900

2 bd · 2.0 ba · 1,192 sqft · Condo public records · 491 Days on market

Built 1990 $538/mo HOA · 16% of rent

---

Why this score? — see what drove the C- 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 +18.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.9/10.0
• 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 MLS

Amazing LOCATION!!! Unique Condo Association! There are only 42 units in this Condo Association! Rarely available, Second floor condo, completely turnkey, EVERYTHING stays! Move in ready! Updated Kitchen! Vaulted ceiling in living & dining area. Large Laundry room! Storm shutters! Beautiful view from lanai with sliding doors from Living room and Master bedroom! This Condo has been meticulously maintained and occupied by the original Owner. One assigned parking space in front of the Unit plus guest parking. Brook Pines is a relaxing community conveniently located just minutes from I-75, SR 951, US 41 and only a few miles to 5th Avenue and the pristine beaches of the Gulf of Mexico. Enjoy the peace and quiet of the relaxing pool area which has been recently updated including new lounge chairs. PRIDE OF OWNERSHIP is reflected in this well maintained Property. (This is NOT an age restricted 55+ Community)

Key facts

• Second floor
• Renovated pool
• New appliances

Tags

• SECOND FLOOR
• NEW ELECTRONIC LOCKS
• NEW APPLIANCES
• RENOVATED POOL
• LANAI
• LANDSCAPED AREA

Property features AI

Finance

• Other: No commercial use allowed; restrictions include no motorcycles and no RVs
• HOA & community: Quarterly condo fee; Condo fee covers insurance, irrigation water, lawn/land maintenance, professional management, exterior pest control, reserves, sewer, street lights and maintenance, trash removal, and water; Community amenities include BBQ/picnic area, community pool, sidewalks, and streetlights; Non-gated community; Total annual recurring HOA fees listed

Exterior

• Parking: Assigned parking (1); Common paved parking; Driveway (paved); Guest parking available
• Security: Entry keypad
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in a low-rise (1–3) building; Two-story building; Zero lot line; Rear exposure facing east; Located in the Brook Pines development
• Construction: Concrete block construction; Built in 1990
• Exterior features: Automatic sprinkler system; Stucco exterior finish; Single-hung windows; Manual storm shutters; Shingle roof; Landscaped grounds; Pool/club view

Interior

• Kitchen: Cooktop (electric); Range; Dishwasher; Refrigerator/freezer; Pantry
• Bedrooms: 2 bedrooms with a split-bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Primary bathroom with combined tub and shower
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Cathedral ceiling; High-speed internet available; Walk-in closet; Pantry; Dining area (combined with living) and eat-in kitchen; Family room; Screened balcony / screened lanai or porch; Partially furnished
• Laundry & utility: Washer/dryer hookup; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (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: schools D+, health & safety D, amenities 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.
• 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 $3,339/mo this rent would consume 49% 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 $2k of loan paydown is wiped out by about $9k 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 491 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $198k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $255,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 491 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.15% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.31%
• DSCR: 1.19
• GRM: 7.2

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: -7.6%
• Equity multiple: 0.71×
• Total profit: $-23,430
• Equity at exit: $43,225

10-year hold

• IRR: 5.5%
• Equity multiple: 1.47×
• Total profit: $37,889
• Equity at exit: $25,065

Cash invested: $81,172 (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: 7.2×

Monthly cashflow live

• Estimated rent: $3,339 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$121
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$538
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $225

Break-even live

Break-even rent $3,054

Max offer price $289,900

Occupancy floor 88%

Sensitivity live

Price	-10% $389	-5% $307	+0% $225	+5% $143	+10% $61
Rent	-10% $-39	-5% $93	+0% $225	+5% $357	+10% $489
Rate	-1.0pp $371	-0.5pp $299	base $225	+0.5pp $150	+1.0pp $73

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	24d	1	0.13mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	22d	1	0.16mi
5535 Rattlesnake Hammock Rd #302 Naples, FL	2.0	2.0	1205	$2,800	$2.32	24d	1	0.26mi
5502 Greenwood Cir #1 Naples, FL	3.0	2.0	1450	$2,400	$1.66	24d	1	0.26mi
905 Augusta Blvd Naples, FL	2.0	2.0	1125	$1,850	$1.64	24d	1	0.31mi
5778 Greenwood Cir Naples, FL	3.0	2.0	1450	$4,000	$2.76	24d	1	0.32mi
4556 Andover Way Unit E104 Naples, FL	2.0	2.0	1072	$5,000	$4.66	14d	1	0.34mi
4556 Andover Way Unit E106 Naples, FL	2.0	2.0	1172	$1,900	$1.62	14d	1	0.34mi
413 Augusta Blvd #302 Naples, FL	2.0	2.0	1390	$5,500	$3.96	22d	1	0.36mi
940 Augusta Blvd Unit D939 Naples, FL	2.0	2.0	1419	$2,200	$1.55	24d	1	0.37mi
709 Augusta Blvd Unit 709-5 Naples, FL	3.0	2.0	1480	$4,000	$2.70	14d	1	0.39mi
5595 Greenwood Cir #92 Naples, FL	3.0	2.0	1450	$5,000	$3.45	24d	1	0.39mi
555 Augusta Blvd Unit 3-1 Naples, FL	2.0	2.0	1249	$4,200	$3.36	24d	1	0.40mi
705 Augusta Blvd Unit 705-5 Naples, FL	2.0	2.0	1125	$2,000	$1.78	14d	1	0.41mi
575 Augusta Blvd Naples, FL	3.0	2.0	1500	$2,100	$1.40	24d	1	0.41mi
701 Augusta Blvd Unit 701-8 Naples, FL	2.0	2.0	1250	$4,800	$3.84	14d	1	0.41mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	14d	1	0.42mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	24d	1	0.42mi
520 Augusta Blvd Unit B204 Naples, FL	3.0	2.0	1294	$2,200	$1.70	24d	1	0.45mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	14d	2	0.45mi
5857 Rattlesnake Hammock Rd #208 Naples, FL	2.0	2.0	1133	$3,000	$2.65	14d	1	0.46mi
760 Augusta Blvd Unit D204 Naples, FL	3.0	2.0	1294	$2,300	$1.78	24d	1	0.47mi
5841 Rattlesnake Hammock Rd Unit 2 Naples, FL	2.0	2.0	1133	$2,500	$2.21	24d	1	0.50mi
5841 Rattlesnake Hammock Rd Unit I-203 Naples, FL	2.0	2.0	1015	$3,500	$3.45	14d	1	0.50mi
4410 Chantelle Dr Unit H-205 Naples, FL	2.0	2.0	1349	$3,500	$2.59	14d	1	0.53mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	24d	1	0.53mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	24d	1	0.53mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	14d	1	0.54mi
265 Deerwood Cir Naples, FL	2.0	2.0	1179	$5,000	$4.24	24d	1	0.56mi
5733 Deauville Cir Unit G308 Naples, FL	3.0	2.0	1427	$3,600	$2.52	24d	1	0.56mi
360 Charlemagne Blvd Unit D105 Naples, FL	2.0	2.0	1082	$3,200	$2.96	24d	1	0.56mi
5741 Deauville Cir Unit F108 Naples, FL	3.0	2.0	1427	$3,600	$2.52	24d	1	0.60mi
5708 Deauville Cir Unit 308 Naples, FL	3.0	2.0	1500	$4,500	$3.00	24d	1	0.64mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	24d	1	0.67mi
5754 Deauville Cir Unit E104 Naples, FL	1.0	2.0	1209	$1,190	$0.98	24d	1	0.69mi
452 Bristle Cone Ln #27 Naples, FL	2.0	2.0	1129	$2,000	$1.77	24d	1	0.71mi
5792 Deauville Cir Unit A103 Naples, FL	2.0	2.0	1209	$3,900	$3.23	24d	1	0.71mi
3685 Amberly Cir Unit D305 Naples, FL	2.0	2.0	1320	$5,100	$3.86	24d	1	0.72mi
3655 Amberly Cir Naples, FL	2.0	2.0	1216	$2,500	$2.06	24d	1	0.73mi
232 Pebble Beach Blvd #104 Naples, FL	3.0	2.0	1298	$1,975	$1.52	24d	1	0.73mi

HOA detail condo

• Monthly dues: $538 · $6,456/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-02
   days on market $289,900 Active 491 DOM
2. 2026-06-01
   days on market $289,900 Active 490 DOM
3. 2026-05-31
   days on market $289,900 Active 489 DOM
4. 2026-05-30
   days on market $289,900 Active 488 DOM
5. 2025-01-27
   listed $289,900 Active
6. 2024-06-04
   historical
7. 2024-03-01
   price $292,000
8. 2024-02-02
   price $299,000
9. 2023-11-13
   listed $309,900 Active
10. 2021-07-01
    soldstatus $198,500
11. 2021-06-28
    soldstatus $198,500 Sold 923-char remark

    Show marketing remark (923 chars)

    Amazing LOCATION!!! Unique Condo Association! There are only 42 units in this Condo Association! Rarely available, Second floor condo, completely turnkey, EVERYTHING stays! Move in ready! Updated Kitchen! Vaulted ceiling in living & dining area. Large Laundry room! Storm shutters! Beautiful view from lanai with sliding doors from Living room and Master bedroom! This Condo has been meticulously maintained and occupied by the original Owner. One assigned parking space in front of the Unit plus guest parking. Brook Pines is a relaxing community conveniently located just minutes from I-75, SR 951, US 41 and only a few miles to 5th Avenue and the pristine beaches of the Gulf of Mexico. Enjoy the peace and quiet of the relaxing pool area which has been recently updated including new lounge chairs. PRIDE OF OWNERSHIP is reflected in this well maintained Property. (This is NOT an age restricted 55+ Community)

12. 2021-06-17
    status Pending 923-char remark

    Show marketing remark (923 chars)

    Amazing LOCATION!!! Unique Condo Association! There are only 42 units in this Condo Association! Rarely available, Second floor condo, completely turnkey, EVERYTHING stays! Move in ready! Updated Kitchen! Vaulted ceiling in living & dining area. Large Laundry room! Storm shutters! Beautiful view from lanai with sliding doors from Living room and Master bedroom! This Condo has been meticulously maintained and occupied by the original Owner. One assigned parking space in front of the Unit plus guest parking. Brook Pines is a relaxing community conveniently located just minutes from I-75, SR 951, US 41 and only a few miles to 5th Avenue and the pristine beaches of the Gulf of Mexico. Enjoy the peace and quiet of the relaxing pool area which has been recently updated including new lounge chairs. PRIDE OF OWNERSHIP is reflected in this well maintained Property. (This is NOT an age restricted 55+ Community)

13. 2021-05-31
    status Pending With Contingencies 923-char remark

    Show marketing remark (923 chars)

    Amazing LOCATION!!! Unique Condo Association! There are only 42 units in this Condo Association! Rarely available, Second floor condo, completely turnkey, EVERYTHING stays! Move in ready! Updated Kitchen! Vaulted ceiling in living & dining area. Large Laundry room! Storm shutters! Beautiful view from lanai with sliding doors from Living room and Master bedroom! This Condo has been meticulously maintained and occupied by the original Owner. One assigned parking space in front of the Unit plus guest parking. Brook Pines is a relaxing community conveniently located just minutes from I-75, SR 951, US 41 and only a few miles to 5th Avenue and the pristine beaches of the Gulf of Mexico. Enjoy the peace and quiet of the relaxing pool area which has been recently updated including new lounge chairs. PRIDE OF OWNERSHIP is reflected in this well maintained Property. (This is NOT an age restricted 55+ Community)

14. 2020-12-16
    listed $198,500 Active 923-char remark

    Show marketing remark (923 chars)

    Amazing LOCATION!!! Unique Condo Association! There are only 42 units in this Condo Association! Rarely available, Second floor condo, completely turnkey, EVERYTHING stays! Move in ready! Updated Kitchen! Vaulted ceiling in living & dining area. Large Laundry room! Storm shutters! Beautiful view from lanai with sliding doors from Living room and Master bedroom! This Condo has been meticulously maintained and occupied by the original Owner. One assigned parking space in front of the Unit plus guest parking. Brook Pines is a relaxing community conveniently located just minutes from I-75, SR 951, US 41 and only a few miles to 5th Avenue and the pristine beaches of the Gulf of Mexico. Enjoy the peace and quiet of the relaxing pool area which has been recently updated including new lounge chairs. PRIDE OF OWNERSHIP is reflected in this well maintained Property. (This is NOT an age restricted 55+ Community)

15. 1990-02-01
    soldstatus $61,000

ⓘ 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: $2,010 · $168/mo
• Projected year-2 tax: $2,406 · $201/mo
• Expected delta: +$396/yr (+$33/mo · 19.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $40,068
• − Mortgage interest: −$16,239
• − Property taxes: −$2,010
• − Insurance: −$2,247
• − Repairs & maintenance: −$3,205
• − Management: −$3,205
• − HOA: −$6,456
• − Depreciation: −$8,433
• Taxable loss: −$1,728
• Est. tax savings @ 24.0%: +$415
• After-tax cash flow: $3,112/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

+375.2% since first listed

11 events — show timeline

• 2025-01-27 Listed $289,900 NAPLESMLS
• 2024-06-04 Listing Removed — NAPLESMLS
• 2024-03-01 Price Changed $292,000 NAPLESMLS
• 2024-02-02 Price Changed $299,000 NAPLESMLS
• 2023-11-13 Listed $309,900 NAPLESMLS
• 2021-07-01 Sold (Public Records) $198,500 Public Records
• 2021-06-28 Sold (MLS) $198,500 NAPLESMLS
• 2021-06-17 Pending — NAPLESMLS
• 2021-05-31 Pending — NAPLESMLS
• 2020-12-16 Listed $198,500 NAPLESMLS
• 1990-02-01 Sold (Public Records) $61,000 Public Records

Property tax history

+17.6%/yr

Latest (2025): $2,010 · +24.5% YoY. Source: county tax records.