635 12th Ave S #635 · Naples, FL 34102

$499,900

2 bd · 2.0 ba · 818 sqft · Condo public records · 414 Days on market

Built 1967 $667/mo HOA · 13% 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 +18.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• DSCR +5.6/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Now priced to sell! Currently the lowest-priced 2 bedroom condo in all of Old Naples. It has 1-1/2 baths. Needs some TLC but the location is tops, only 3 blocks from the Third Street shops and dining. Walk to the pier or tennis. Great on-site amenities- club house, community room, library, shuffleboard, bocce and barbecue facilities. Generous outside storage- room for bike.

Key facts

• $667 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: HOA one-time fees totaling $250
• HOA & community: Mandatory HOA; Quarterly HOA fee (totaling $8,000 annually); HOA maintenance includes cable, internet/Wi‑Fi access, laundry facilities, lawn/land maintenance, and exterior pest control; Community amenities: clubhouse, community pool, play area, shuffleboard, bike storage, extra storage, common laundry, streetlights; Community type: Condo/Hotel, non-gated; managed as condo

Exterior

• Parking: Streetlight and underground utilities in community (no specific private garage listed)
• Security: Impact-resistant doors and windows
• Utilities: Central water (assessment paid); Central sewer; Electric service for heat and cooling
• Home design: Residential low-rise (1–3 stories); Concrete block construction; Stucco exterior; Rolled roof; Built in 1967; Rear exposure faces north; Located in the Village Green / Everglades Club community
• Construction: Concrete block construction; Stucco finish; Rolled roof; Built in 1967
• Exterior features: Extra storage; City and landscaped area views; Deeded property with limited number of vehicles restriction; Public road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range / oven (self-cleaning); Refrigerator/freezer and icemaker
• Bedrooms: 2 bedrooms (one is on the first floor)
• Flooring: Tile floors
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heating; Central electric cooling; Cable available
• Interior features: Cable pre-wiring and high-speed internet available; Smoke detectors; Breakfast bar; Den / study; Turnkey furnished; Courtyard floor plan
• Laundry & utility: Common laundry (HOA-provided facilities)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $0 ($1/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Recommended offer: $440k (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.
• 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 24d 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).
• At $5,171/mo this rent would consume 47% of the median local household income ($131k/yr) (locally 333% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($3k loan paydown + $20k 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 $140k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, 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 414 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $119k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $300k; list at $500k implies a 67% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $439,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 414 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 1967 — 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: 1.03% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 8.1

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: 13.4%
• Equity multiple: 1.84×
• Total profit: $117,274
• Equity at exit: $255,900

10-year hold

• IRR: 17.3%
• Equity multiple: 4.10×
• Total profit: $434,598
• Equity at exit: $420,506

Cash invested: $139,972 (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: 8.1×

Monthly cashflow live

• Estimated rent: $5,171 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$162 /mo · $1,944/yr
• Insurance: −$208
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$667
• Vacancy / Maint / Mgmt: −$1,086
• Net cashflow: $0

Break-even live

Break-even rent $5,171

Max offer price $499,900

Occupancy floor 95%

Sensitivity live

Price	-10% $283	-5% $142	+0% $0	+5% $-141	+10% $-283
Rent	-10% $-408	-5% $-204	+0% $0	+5% $204	+10% $409
Rate	-1.0pp $252	-0.5pp $127	base $0	+0.5pp $-129	+1.0pp $-261

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
636 Broad Ave S Unit 1259386P Naples, FL	2.0	2.0	882	$4,307	$4.88	14d	1	0.02mi
609 12th Ave S #609 Naples, FL	2.0	2.0	860	$8,000	$9.30	24d	1	0.02mi
546 Broad Ave S #546 Naples, FL	2.0	2.0	890	$4,800	$5.39	24d	1	0.10mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$7,200	$10.29	24d	2	0.16mi
421 12th Ave S Unit A1 Naples, FL	2.0	1.0	760	$6,400	$8.42	14d	1	0.20mi
404 Broad Ave S Unit H404 Naples, FL	2.0	2.0	890	$9,995	$11.23	24d	1	0.20mi
960 7th St S #103 Naples, FL	1.0	1.0	534	$5,000	$9.36	24d	1	0.24mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$3,995	$4.59	24d	2	0.42mi
1295 Gulf Shore Blvd S #218 Naples, FL	2.0	2.0	662	$10,479	$15.83	24d	1	0.46mi
351 8th Ave S #351 Naples, FL	2.0	2.0	930	$4,000	$4.30	24d	1	0.47mi
950 7th Ave S #23 Naples, FL	1.0	1.0	631	$3,250	$5.15	14d	1	0.49mi
980 7th Ave S Naples, FL	1.0	1.0	540	$7,500	$13.89	24d	2	0.51mi
291 8th Ave S Unit 291A Naples, FL	1.0	1.0	550	$3,900	$7.09	24d	1	0.51mi
1100 8th Ave S Naples, FL	2.0	2.0	1218	$9,000	$7.39	14d	5	0.54mi
250 7th Ave S #301 Naples, FL	2.0	2.0	1000	$10,000	$10.00	24d	1	0.54mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$8,000	$8.58	14d	2	0.56mi
1360 Chesapeake Ave Unit 1372 Naples, FL	1.0	1.0	600	$1,850	$3.08	24d	1	0.64mi
540 4th Ave S #13 Naples, FL	1.0	1.0	580	$5,000	$8.62	24d	1	0.65mi
480 5th St S #102 Naples, FL	1.0	1.0	600	$6,500	$10.83	24d	1	0.66mi
365 5th Ave S #303 Naples, FL	2.0	2.0	1090	$13,000	$11.93	24d	1	0.66mi
805 River Point Dr Unit 307C Naples, FL	1.0	1.0	816	$2,700	$3.31	24d	1	0.69mi
388 4th Ave S #388 Naples, FL	2.0	2.0	965	$13,000	$13.47	24d	1	0.69mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	24d	1	0.70mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	24d	1	0.70mi
801 River Point Dr Unit 303A Naples, FL	1.0	1.0	815	$5,000	$6.13	21d	1	0.72mi
296 4th Ave S #296 Naples, FL	2.0	2.5	1120	$2,950	$2.63	21d	1	0.73mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	24d	2	0.74mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	24d	1	0.74mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.74mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	14d	1	0.76mi
1535 Chesapeake Ave Unit A2 Naples, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.78mi
286 4th St S #203 Naples, FL	2.0	2.0	1058	$10,000	$9.45	24d	1	0.80mi
290 4th St S #202 Naples, FL	2.0	2.0	1058	$10,000	$9.45	24d	1	0.80mi
282 4th St S Naples, FL	2.0	2.0	1058	$11,000	$10.40	24d	1	0.80mi
284 4th St S #103 Naples, FL	2.0	2.0	979	$9,000	$9.19	24d	1	0.80mi
230 3rd Ave S #4 Naples, FL	2.0	2.5	978	$12,000	$12.27	24d	1	0.81mi
1605 Chesapeake Ave #2 Naples, FL	2.0	1.0	850	$2,300	$2.71	24d	1	0.84mi
450 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.5	1324	$8,750	$6.61	24d	6	0.85mi
1686 Blue Point Ave Naples, FL	2.0	2.0	1057	$5,500	$5.20	14d	2	0.87mi
410 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.0	1242	$7,875	$6.34	24d	6	0.88mi

HOA detail condo

• Monthly dues: $667 · $8,004/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $499,900 Active 414 DOM
2. 2026-06-17
   days on market $499,900 Active 413 DOM
3. 2026-06-16
   days on market $499,900 Active 412 DOM
4. 2026-06-15
   days on market $499,900 Active 411 DOM
5. 2026-06-10
   days on market $499,900 Active 406 DOM
6. 2026-06-09
   days on market $499,900 Active 405 DOM
7. 2026-06-08
   days on market $499,900 Active 404 DOM
8. 2026-06-07
   days on market $499,900 Active 403 DOM
9. 2026-06-02
   days on market $499,900 Active 398 DOM
10. 2026-06-01
    days on market $499,900 Active 397 DOM
11. 2026-05-31
    days on market $499,900 Active 396 DOM
12. 2026-05-30
    days on market $499,900 Active 395 DOM
13. 2026-05-20
    price $499,900
14. 2026-04-23
    price $519,900
15. 2026-01-22
    price $529,900
16. 2026-01-04
    price $539,000
17. 2025-11-29
    status Active
18. 2025-07-01
    price $519,000
19. 2024-11-03
    price $549,000
20. 2024-11-03
    historical
21. 2024-10-03
    price $554,900
22. 2024-09-29
    price $559,900
23. 2024-07-23
    price $559,000
24. 2024-07-03
    price $569,000
25. 2024-06-21
    price $575,000
26. 2024-06-13
    price $579,000
27. 2024-05-28
    price $585,000
28. 2024-05-22
    price $589,000
29. 2024-05-10
    price $595,000
30. 2024-05-01
    price $599,900
31. 2024-04-16
    price $609,000
32. 2024-04-04
    listed $619,000 Active
33. 2023-08-03
    soldstatus $300,000
34. 2012-03-20
    soldstatus $147,000
35. 2012-03-15
    soldstatus $147,000 377-char remark

    Show marketing remark (377 chars)

    Now priced to sell! Currently the lowest-priced 2 bedroom condo in all of Old Naples. It has 1-1/2 baths. Needs some TLC but the location is tops, only 3 blocks from the Third Street shops and dining. Walk to the pier or tennis. Great on-site amenities- club house, community room, library, shuffleboard, bocce and barbecue facilities. Generous outside storage- room for bike.

36. 2005-12-06
    listed $150,000 377-char remark

    Show marketing remark (377 chars)

    Now priced to sell! Currently the lowest-priced 2 bedroom condo in all of Old Naples. It has 1-1/2 baths. Needs some TLC but the location is tops, only 3 blocks from the Third Street shops and dining. Walk to the pier or tennis. Great on-site amenities- club house, community room, library, shuffleboard, bocce and barbecue facilities. Generous outside storage- room for bike.

37. 1989-01-01
    soldstatus $63,000

ⓘ 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: $1,944 · $162/mo
• Projected year-2 tax: $4,149 · $346/mo
• Expected delta: +$2,206/yr (+$184/mo · 113.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $62,056
• − Mortgage interest: −$28,002
• − Property taxes: −$1,944
• − Insurance: −$7,618
• − Repairs & maintenance: −$4,965
• − Management: −$4,965
• − HOA: −$8,004
• − Depreciation: −$14,543
• Taxable loss: −$7,983
• Est. tax savings @ 24.0%: +$1,916
• After-tax cash flow: $1,916/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

• Census place: Naples, FL
• 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

+693.5% since first listed

25 events — show timeline

• 2026-05-20 Price Changed $499,900 NAPLESMLS
• 2026-04-23 Price Changed $519,900 NAPLESMLS
• 2026-01-22 Price Changed $529,900 NAPLESMLS
• 2026-01-04 Price Changed $539,000 NAPLESMLS
• 2025-11-29 Relisted — NAPLESMLS
• 2025-07-01 Price Changed $519,000 NAPLESMLS
• 2024-11-03 Listing Removed — NAPLESMLS
• 2024-11-03 Price Changed $549,000 NAPLESMLS
• 2024-10-03 Price Changed $554,900 NAPLESMLS
• 2024-09-29 Price Changed $559,900 NAPLESMLS
• 2024-07-23 Price Changed $559,000 NAPLESMLS
• 2024-07-03 Price Changed $569,000 NAPLESMLS
• 2024-06-21 Price Changed $575,000 NAPLESMLS
• 2024-06-13 Price Changed $579,000 NAPLESMLS
• 2024-05-28 Price Changed $585,000 NAPLESMLS
• 2024-05-22 Price Changed $589,000 NAPLESMLS
• 2024-05-10 Price Changed $595,000 NAPLESMLS
• 2024-05-01 Price Changed $599,900 NAPLESMLS
• 2024-04-16 Price Changed $609,000 NAPLESMLS
• 2024-04-04 Listed $619,000 NAPLESMLS
• 2023-08-03 Sold (Public Records) $300,000 Public Records
• 2012-03-20 Sold (Public Records) $147,000 Public Records
• 2012-03-15 Sold (MLS) $147,000 NAPLESMLS
• 2005-12-06 Listed $150,000 NAPLESMLS
• 1989-01-01 Sold (Public Records) $63,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,944 · -53.5% YoY. Source: county tax records.