573 Cape Florida Ln · Berkshire Lakes, FL 34104

$229,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 38 Days on market

Built 1985 5,227 sqft lot $188/mo HOA · 7% 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained and fully furnished turnkey home located in the friendly 55+ community of Cape Sable Lakes! You OWN the LAND, so NO land Lease fee's! Offering 3 spacious bedrooms, 2 bathrooms, and a versatile all-season room with A/C, this home provides plenty of space to relax and entertain. The open-concept floor plan features laminate flooring throughout the main living areas and primary bedroom, creating a clean and modern feel. Enjoy the Florida lifestyle with access to two community pools, a cabana, and a clubhouse with social activities and events—all while benefiting from super low HOA fees. Conveniently located just 7 miles from Naples’ renowned white sand beaches and c

Key facts

• Low hoa fees
• Cabana
• Community pools

Tags

• FULLY FURNISHED TURNKEY HOME
• VERSATILE ALL-SEASON ROOM
• COMMUNITY POOLS
• CABANA
• LOW HOA FEES
• LOW-MAINTENANCE LIVING

Property features AI

Finance

• Other: Part of a complex with 188 units; single unit in building and single floor; Lot is regularly shaped with recorded dimensions
• HOA & community: Mandatory HOA; Monthly HOA fee of $188; Total annual recurring HOA fees approximately $2,256; One-time fees approximately $625; HOA provides cable, internet/WiFi access, lawn/land maintenance, pest control (exterior), professional management, legal/accounting, and a manager; Community amenities include a cabana, clubhouse, community pool, community room, and exercise room; Non-gated community

Exterior

• Parking: Paved driveway; Attached carport with 2 carport spaces
• Security: Manual shutters for storm protection
• Utilities: Central water; Central sewer; Cable available; Underground utilities (community)
• Home design: Manufactured residential property; 1 story / ranch style; Rear exposure facing west; Located in NAPLES MOBILE ESTATE
• Construction: Manufactured construction; Built in 1985
• Exterior features: Vinyl siding exterior; Rolled roof; Single-hung windows; Manual storm shutters; Landscaped view; Irrigation with central and reclaimed water

Interior

• Kitchen: Island; Electric cooktop; Dishwasher; Disposal; Microwave; Refrigerator/Freezer
• Bedrooms: 3 bedrooms plus den; Master bedroom on the ground level; Split bedroom floor plan
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Turnkey condition; Island kitchen; Dining in living area and eat-in kitchen; Den (study); Family room; Guest room and guest bath; Laundry in residence; Smoke detector
• Laundry & utility: Washer; Dryer; Laundry located inside the residence

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $614 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 soft (-1.1%/yr); 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $2,854/mo this rent would consume 48% of the median local household income ($72k/yr) (locally 1423% 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 $7k 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 38 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 12622% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $90k; list at $229k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major 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 $222,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-6,306
• Equity at exit: $34,145

10-year hold

• IRR: 3.2%
• Equity multiple: 1.20×
• Total profit: $12,835
• Equity at exit: $19,800

Cash invested: $64,120 (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 34104

• Rents YoY: -1.1%
• Active inventory: 436
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,854 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$157 /mo · $1,881/yr
• Insurance: −$95
• HOA: −$188
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $614

Break-even live

Break-even rent $2,077

Max offer price $229,000

Occupancy floor 74%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5301 Whitten Dr #81 Naples, FL	3.0	2.0	1386	$2,700	$1.95	23d	1	0.41mi
5257 Whitten Dr Naples, FL	2.0	2.0	1500	$2,500	$1.67	13d	1	0.49mi
193 Fox Glen Dr Naples, FL	3.0	2.0	1345	$6,500	$4.83	23d	1	0.52mi
1075 Foxfire Ln Naples, FL	2.0	2.0	1092	$3,300	$3.02	23d	3	0.61mi
6700 Dennis Cir Unit A103 Naples, FL	2.0	2.0	1308	$2,000	$1.53	13d	1	0.62mi
7065 Dennis Cir #302 Naples, FL	2.0	2.0	1097	$4,000	$3.65	21d	1	0.67mi
1748 Royal Cir Naples, FL	3.0	2.0	1451	$3,200	$2.21	23d	1	0.67mi
882 Bluebird St Naples, FL	3.0	2.0	1308	$6,000	$4.59	23d	1	0.69mi
1787 Reuven Cir Unit 1001 Naples, FL	2.0	2.0	1112	$1,300	$1.17	13d	1	0.69mi
6825 Sterling Greens Dr #102 Naples, FL	3.0	2.0	1499	$4,500	$3.00	23d	1	0.70mi
6816 Sterling Greens Dr Unit 1105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	13d	1	0.71mi
6816 Sterling Greens Pl #105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	21d	1	0.71mi
1051 Eastham Way Unit B104 Naples, FL	2.0	2.0	1091	$4,300	$3.94	13d	1	0.75mi
6828 Sterling Greens Dr Unit 4105 Naples, FL	2.0	2.0	1242	$3,750	$3.02	13d	1	0.75mi
2972 Kings Lake Blvd #2972 Naples, FL	2.0	2.0	1100	$3,000	$2.73	23d	1	0.79mi
1100 Eastham Way Unit A-105 Naples, FL	2.0	2.0	1184	$4,500	$3.80	13d	1	0.80mi
1950 W Crown Pointe Blvd Unit B207 Naples, FL	2.0	2.0	1129	$1,950	$1.73	23d	1	0.83mi
1701 Courtyard Way Naples, FL	2.0	2.0	1072	$1,990	$1.86	23d	1	0.85mi
1810 Florida Club Cir Naples, FL	2.0	2.0	1200	$2,075	$1.73	13d	2	0.86mi
1933 Courtyard Way Unit D-103 Naples, FL	2.0	2.0	947	$1,850	$1.95	13d	1	0.87mi
1820 Florida Club Cir Naples, FL	3.0	2.0	1282	$2,850	$2.22	23d	2	0.87mi
4502 Parrot Ave Naples, FL	3.0	2.0	1200	$2,950	$2.46	23d	1	0.87mi
6643 Craven Hill Way Naples, FL	3.0	2.0	1384	$2,900	$2.10	13d	1	0.88mi
2050 W Crown Pointe Blvd Unit C214 Naples, FL	3.0	2.0	1267	$4,200	$3.31	23d	1	0.89mi
1765 Courtyard Way Unit C206 Naples, FL	2.0	2.5	1150	$1,650	$1.43	13d	1	0.89mi
1765 Courtyard Way Unit C-104 Naples, FL	2.0	2.0	1132	$2,700	$2.39	13d	1	0.89mi
1895 Courtyard Way #103 Naples, FL	3.0	2.0	1046	$2,200	$2.10	21d	1	0.90mi
1840 Florida Club Cir #5309 Naples, FL	2.0	1.0	1328	$2,300	$1.73	23d	1	0.92mi
1830 Florida Club Cir #4111 Naples, FL	3.0	2.0	1189	$2,250	$1.89	21d	1	0.92mi
4210 Looking Glass Ln Unit 4210 Naples, FL	2.0	2.0	1300	$3,000	$2.31	13d	1	0.94mi
1835 Florida Club Cir #3201 Naples, FL	3.0	2.0	1375	$2,095	$1.52	13d	1	0.96mi
4180 Looking Glass Ln Unit 4104 Naples, FL	2.0	2.0	1246	$4,000	$3.21	13d	1	0.96mi
1802 Kings Lake Blvd Unit 2-101 Naples, FL	2.0	2.0	1465	$5,500	$3.75	23d	1	0.97mi
6954 Avalon Cir #703 Naples, FL	2.0	2.0	1467	$3,000	$2.04	13d	1	0.99mi
6954 Avalon Cir #702 Naples, FL	2.0	2.0	1467	$4,500	$3.07	23d	1	0.99mi
1826 Kings Lake Blvd #101 Naples, FL	3.0	2.0	1456	$2,700	$1.85	13d	1	1.00mi
141 Bristol Ln Unit C21 Naples, FL	2.0	2.0	1400	$5,900	$4.21	23d	1	1.01mi
1808 Kings Lake Blvd #203 Naples, FL	2.0	2.0	1312	$1,775	$1.35	13d	1	1.03mi
1865 Florida Club Dr #6211 Naples, FL	3.0	2.0	1500	$2,000	$1.33	13d	1	1.04mi
2644 Kings Lake Blvd Unit 6-103 Naples, FL	2.0	2.0	911	$1,875	$2.06	23d	1	1.04mi

HOA detail

• Monthly dues: $188 · $2,256/yr
• Likely covers: pool

Listing history 24 events

1. 2026-06-18
   days on market $229,000 Active 38 DOM
2. 2026-06-17
   days on market $229,000 Active 37 DOM
3. 2026-06-16
   days on market $229,000 Active 36 DOM
4. 2026-06-15
   days on market $229,000 Active 35 DOM
5. 2026-06-14
   days on market $229,000 Active 33 DOM
6. 2026-06-10
   days on market $229,000 Active 30 DOM
7. 2026-06-09
   days on market $229,000 Active 29 DOM
8. 2026-06-09
   price $229,000 Active 28 DOM
9. 2026-06-08
   days on market $229,900 Active 28 DOM
10. 2026-06-07
    days on market $229,900 Active 27 DOM
11. 2026-06-03
    days on market $229,900 Active 23 DOM
12. 2026-06-02
    days on market $229,900 Active 22 DOM
13. 2026-06-01
    days on market $229,900 Active 21 DOM
14. 2026-05-31
    days on market $229,900 Active 20 DOM
15. 2026-05-30
    days on market $229,900 Active 19 DOM
16. 2026-05-11
    listed $1,800
17. 2026-05-11
    listed $229,900 Active
18. 2025-12-15
    historical $1,800
19. 2025-10-09
    price $1,800
20. 2025-07-30
    price $1,850
21. 2025-04-26
    listed $1,900
22. 2025-03-27
    soldstatus $90,000
23. 1985-10-01
    soldstatus $12,400
24. 1985-09-01
    soldstatus $15,200

ⓘ 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: $1,881 · $157/mo
• Projected year-2 tax: $1,901 · $158/mo
• Expected delta: +$20/yr (+$2/mo · 1.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 54% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $34,249
• − Mortgage interest: −$12,828
• − Property taxes: −$1,881
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,740
• − Management: −$2,740
• − HOA: −$2,256
• − Depreciation: −$6,662
• Taxable income: $3,998
• Est. tax owed @ 24.0%: −$960
• After-tax cash flow: $6,405/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 — Berkshire Lakes

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,408
• Household income: $71,686
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1423.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 3% Hispanic 2%
• Foreign-born: 30% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · Spanish 24% French/Haitian/Cajun 5% Russian/Polish/Slavic 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: ▼ -252.48%
• Current HPI: 259.3498
• Rent YoY: ▼ -1.10%
• 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

-88.2% since first listed

9 events — show timeline

• 2026-05-11 Listed for Rent $1,800 FGCMLS
• 2026-05-11 Listed $229,900 NAPLESMLS
• 2025-12-15 Rental Removed $1,800 NAPLESMLS
• 2025-10-09 Price Changed $1,800 NAPLESMLS
• 2025-07-30 Price Changed $1,850 NAPLESMLS
• 2025-04-26 Listed for Rent $1,900 NAPLESMLS
• 2025-03-27 Sold (Public Records) $90,000 Public Records
• 1985-10-01 Sold (Public Records) $12,400 Public Records
• 1985-09-01 Sold (Public Records) $15,200 Public Records

Property tax history

+11.0%/yr

Latest (2025): $1,881 · +33.4% YoY. Source: county tax records.