190 Pebble Beach Blvd #103 · Lely, FL 34113

$180,000

2 bd · 2.0 ba · 954 sqft · Condo public records · 594 Days on market

Built 1982 $739/mo HOA · 29% of rent

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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 +17.1/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 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

Looking for an affordable home in paradise? Well, look no further because you have found it. LOCATION! LOCATION! LOCATION! Only 10 minutes away from the sandy beaches, restaurants, and shops of downtown Naples. You will find this 2 bedroom and 2 bathroom condo has much to offer starting with the fully remodeled kitchen and bathrooms. This first floor condo also comes with stainless steel appliances, granite countertops all around, an amazing view of the golf course, features impact windows, electrical shutters, brand new a/c and water heater (6 months), and direct access to the community pool. Very economical HOA fees (hard to find anything under 400 now a days) at only $378 a month. * * Check remarks for furniture information. * *

Key facts

• doors
• Assigned parking
• Impact windows

Tags

• FULLY FURNISHED CONDO
• IMPACT GLASS THROUGHOUT
• IMPACT WINDOWS
• DOORS
• AND ELECTRIC SHUTTERS
• ASSIGNED PARKING

Property features AI

Finance

• Other: Part of a 25-unit complex and building; One unit per floor; single-floor unit; Community type: Condo/Hotel; Some use restrictions: no commercial, no motorcycles, no RV, no truck
• Financial info: Condo fee paid monthly; Total annual recurring fees reported
• HOA & community: Monthly condo fee; Professional management; Community pool; Extra storage available; Streetlights; Trash chute; Condo fees cover insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, repairs, reserves, street maintenance, trash removal, and water

Exterior

• Parking: 1 assigned parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Mid-rise building (4–7 stories); Built in 1982; Rear exposure facing west; Located in Lely (Fairway Gardens)
• Construction: Concrete block construction; Stucco exterior finish; Built-up or flat roof; No canal dock (no canal)
• Exterior features: Storage; Sliding windows; Impact-resistant doors and windows; Electric shutters

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator/freezer; Self-cleaning oven
• Bedrooms: 2 bedrooms; First-floor bedroom; Master bedroom on ground floor; Split bedroom floor plan
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Smoke detectors; Walk-in closet; Breakfast bar; Screened lanai/porch; Common elevator; Three ceiling fans; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $59 ($704/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (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); 598 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 594 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago; this cycle's ask has dropped $95k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• Climate carrying-cost: severe flood risk; 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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 594 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: 1.43% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 5.8

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: -9.4%
• Equity multiple: 0.64×
• Total profit: $-18,085
• Equity at exit: $26,839

10-year hold

• IRR: 4.7%
• Equity multiple: 1.41×
• Total profit: $20,731
• Equity at exit: $15,563

Cash invested: $50,400 (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: 598
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,567 high
• Mortgage (P&I): −$944
• Tax from tax record: −$145 /mo · $1,742/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$739
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $59

Break-even live

Break-even rent $2,493

Max offer price $180,000

Occupancy floor 93%

Sensitivity live

Price	-10% $161	-5% $110	+0% $59	+5% $8	+10% $-43
Rent	-10% $-144	-5% $-43	+0% $59	+5% $160	+10% $261
Rate	-1.0pp $149	-0.5pp $104	base $59	+0.5pp $12	+1.0pp $-35

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	24d	1	0.03mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	24d	1	0.10mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	15d	1	0.35mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	15d	2	0.40mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	22d	1	0.42mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	24d	1	0.42mi
200 Valley Stream Dr Unit 8B Naples, FL	2.0	2.0	979	$1,750	$1.79	24d	1	0.42mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	24d	1	0.49mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	24d	1	0.49mi
360 Charlemagne Blvd Unit D105 Naples, FL	2.0	2.0	1082	$3,200	$2.96	24d	1	0.61mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	22d	1	0.61mi
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	24d	1	0.64mi
326 Bradstrom Cir Unit 103F Naples, FL	2.0	2.0	1113	$1,800	$1.62	24d	1	0.70mi
5483 Rattlesnake Hammock Rd Unit 201B Naples, FL	2.0	2.0	1071	$1,800	$1.68	15d	1	0.71mi
4900 Biscayne Dr #22 Naples, FL	2.0	2.0	1108	$1,800	$1.62	22d	1	0.75mi
4360 Petal Dr Naples, FL	3.0	1.0–2.0	1018	$2,566	$2.52	15d	37	0.90mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	24d	1	0.98mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	15d	1	0.98mi
4300 Gulfstream Dr Unit 2D Naples, FL	2.0	2.0	1115	$1,295	$1.16	24d	1	1.01mi
705 Augusta Blvd Unit 705-5 Naples, FL	2.0	2.0	1125	$2,000	$1.78	15d	1	1.01mi
905 Augusta Blvd Naples, FL	2.0	2.0	1125	$1,850	$1.64	24d	1	1.02mi
4290 Gulfstream Dr #5 Naples, FL	2.0	2.0	956	$1,600	$1.67	24d	1	1.03mi
4556 Andover Way Unit E104 Naples, FL	2.0	2.0	1072	$5,000	$4.66	15d	1	1.06mi
3625 Boca Ciega Dr Naples, FL	2.0	2.0	930	$2,400	$2.58	24d	2	1.13mi
2093 Pine Isle Ln #2093 Naples, FL	2.0	2.0	927	$1,695	$1.83	24d	1	1.15mi
5841 Rattlesnake Hammock Rd Unit I-203 Naples, FL	2.0	2.0	1015	$3,500	$3.45	15d	1	1.22mi
3655 Boca Ciega Dr #202 Naples, FL	2.0	2.0	966	$1,800	$1.86	24d	1	1.22mi
5665 Whitaker Rd #202 Naples, FL	2.0	2.0	1099	$1,900	$1.73	22d	1	1.35mi

HOA detail condo

• Monthly dues: $739 · $8,868/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $180,000 Active 594 DOM
2. 2026-06-17
   days on market $180,000 Active 593 DOM
3. 2026-06-16
   days on market $180,000 Active 592 DOM
4. 2026-06-15
   days on market $180,000 Active 591 DOM
5. 2026-06-10
   days on market $180,000 Active 586 DOM
6. 2026-06-09
   days on market $180,000 Active 585 DOM
7. 2026-06-08
   days on market $180,000 Active 584 DOM
8. 2026-06-07
   days on market $180,000 Active 583 DOM
9. 2026-06-02
   days on market $180,000 Active 578 DOM
10. 2026-06-01
    days on market $180,000 Active 577 DOM
11. 2026-05-31
    pricedays on market $180,000 Active 576 DOM
12. 2026-05-30
    days on market $225,000 Active 575 DOM
13. 2025-10-09
    price $225,000
14. 2025-05-14
    price $239,000
15. 2024-11-01
    listed $275,000 Active
16. 2024-07-30
    historical
17. 2024-05-09
    listed $285,000 Active
18. 2021-04-20
    soldstatus $185,000
19. 2021-04-15
    soldstatus $185,000 Sold 743-char remark

    Show marketing remark (743 chars)

    Looking for an affordable home in paradise? Well, look no further because you have found it. LOCATION! LOCATION! LOCATION! Only 10 minutes away from the sandy beaches, restaurants, and shops of downtown Naples. You will find this 2 bedroom and 2 bathroom condo has much to offer starting with the fully remodeled kitchen and bathrooms. This first floor condo also comes with stainless steel appliances, granite countertops all around, an amazing view of the golf course, features impact windows, electrical shutters, brand new a/c and water heater (6 months), and direct access to the community pool. Very economical HOA fees (hard to find anything under 400 now a days) at only $378 a month. * * Check remarks for furniture information. * *

20. 2021-03-09
    status Pending With Contingencies 743-char remark

    Show marketing remark (743 chars)

    Looking for an affordable home in paradise? Well, look no further because you have found it. LOCATION! LOCATION! LOCATION! Only 10 minutes away from the sandy beaches, restaurants, and shops of downtown Naples. You will find this 2 bedroom and 2 bathroom condo has much to offer starting with the fully remodeled kitchen and bathrooms. This first floor condo also comes with stainless steel appliances, granite countertops all around, an amazing view of the golf course, features impact windows, electrical shutters, brand new a/c and water heater (6 months), and direct access to the community pool. Very economical HOA fees (hard to find anything under 400 now a days) at only $378 a month. * * Check remarks for furniture information. * *

21. 2021-02-10
    listed $189,999 Active 743-char remark

    Show marketing remark (743 chars)

    Looking for an affordable home in paradise? Well, look no further because you have found it. LOCATION! LOCATION! LOCATION! Only 10 minutes away from the sandy beaches, restaurants, and shops of downtown Naples. You will find this 2 bedroom and 2 bathroom condo has much to offer starting with the fully remodeled kitchen and bathrooms. This first floor condo also comes with stainless steel appliances, granite countertops all around, an amazing view of the golf course, features impact windows, electrical shutters, brand new a/c and water heater (6 months), and direct access to the community pool. Very economical HOA fees (hard to find anything under 400 now a days) at only $378 a month. * * Check remarks for furniture information. * *

22. 2016-04-26
    historical
23. 2016-04-04
    listed $146,900 Active
24. 2014-04-09
    soldstatus $82,000
25. 2014-03-18
    soldstatus $82,000
26. 2014-03-18
    price $87,500
27. 2014-03-18
    soldstatus $82,000
28. 2013-07-25
    listed $82,000
29. 2013-07-23
    listed $87,500
30. 1999-12-15
    soldstatus $59,000
31. 1983-09-01
    soldstatus $61,500

ⓘ 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: $1,742 · $145/mo
• Projected year-2 tax: $1,742 · $145/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,808
• − Mortgage interest: −$10,083
• − Property taxes: −$1,742
• − Insurance: −$1,697
• − Repairs & maintenance: −$2,465
• − Management: −$2,465
• − HOA: −$8,868
• − Depreciation: −$5,236
• Taxable loss: −$1,748
• Est. tax savings @ 24.0%: +$419
• After-tax cash flow: $1,123/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

+265.9% since first listed

19 events — show timeline

• 2025-10-09 Price Changed $225,000 NAPLESMLS
• 2025-05-14 Price Changed $239,000 NAPLESMLS
• 2024-11-01 Listed $275,000 NAPLESMLS
• 2024-07-30 Listing Removed — NAPLESMLS
• 2024-05-09 Listed $285,000 NAPLESMLS
• 2021-04-20 Sold (Public Records) $185,000 Public Records
• 2021-04-15 Sold (MLS) $185,000 NAPLESMLS
• 2021-03-09 Pending — NAPLESMLS
• 2021-02-10 Listed $189,999 NAPLESMLS
• 2016-04-26 Listing Removed — NAPLESMLS
• 2016-04-04 Listed $146,900 NAPLESMLS
• 2014-04-09 Sold (Public Records) $82,000 Public Records
• 2014-03-18 Sold (MLS) $82,000 MIML
• 2014-03-18 Price Changed $87,500 NAPLESMLS
• 2014-03-18 Sold (MLS) $82,000 NAPLESMLS
• 2013-07-25 Listed $82,000 NAPLESMLS
• 2013-07-23 Listed $87,500 MIML
• 1999-12-15 Sold (Public Records) $59,000 Public Records
• 1983-09-01 Sold (Public Records) $61,500 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,742 · +3.0% YoY. Source: county tax records.