15583 Marcello Cir #145 · Bonita Springs, FL 34110

$350,000

3 bd · 2.5 ba · 1,580 sqft · Condo public records · 51 Days on market

Built 2006 $533/mo HOA · 10% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful townhouse in a prime North Naples location. This home features an open floor plan with 1,580 square feet, 3 bedrooms, 2.5 bathrooms, and a 1-car garage. Recent updates include new stainless steel appliances, a water heater less than one year old, and a newer garage door motor. The community has brand-new roofs and carpet in the second floor throughout. Enjoy privacy from the Patio with a peaceful southern preserve view. Low HOA fees include cable, reserves, landscaping, insurance, and more. Milano amenities include a community pool and spa, tennis courts, basketball court, walking and biking paths, and barbecue grills. An exceptional value in North Naples.

Key facts

• Open floor plan
• Community pool
• Water heater

Tags

• OPEN FLOOR PLAN
• NEW STAINLESS STEEL APPLIANCES
• WATER HEATER
• SOUTHERN PRESERVE VIEW
• COMMUNITY POOL
• TENNIS COURTS

Property features AI

Finance

• Other: Part of a complex with 256 units; building has 1 unit and 2 floors; Lot is a regular lot (architectural plans used for dimensions); landscaped area view; irrigation assessment paid
• HOA & community: Mandatory HOA (Condo management); Quarterly HOA fee of $1,600; Annual recurring fees total $6,400; One-time fees total $1,100; HOA maintenance covers cable, exterior pest control, street lights, street maintenance, and trash removal; Community amenities include basketball, BBQ/picnic area, community park, community pool, community room, exercise room, internet access, and sidewalks; Community type: Condo/Hotel

Exterior

• Parking: Attached garage (1 car); Attached carport (2 spaces)
• Security: Security system
• Utilities: Water assessment paid; Sewer assessment paid; Cable available
• Home design: Townhouse; 2 story; Residential property; Rear exposure faces north; Located in the Milano community
• Construction: Concrete block construction; Stucco exterior; Tile roof; Built in 2006
• Exterior features: Patio; Privacy wall; Sliding windows; Manual shutters

Interior

• Kitchen: Cooktop - electric; Dishwasher; Microwave; Refrigerator/Freezer
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom; Master bath with shower only
• Heating & cooling: Central electric heat; Air purifier; Ceiling fans
• Interior features: Built-in cabinets; Cathedral ceiling; Smoke detectors; Great room; Guest bath; Open porch/lanai
• Laundry & utility: Washer/dryer hookup; Washer and dryer (equipment listed); Laundry in residence

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $350k).
• Recommended offer: $340k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 1.7% in Bonita Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• 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); 595 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 $5,602/mo this rent would consume 69% of the median local household income ($98k/yr) (locally 1006% 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 $10k 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 + 0.0% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y 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 $230k; list at $350k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $339,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.60% ✓
• Cap rate: 11.91%
• Cash-on-cash: 20.06%
• DSCR: 1.89
• GRM: 5.2

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: 8.5%
• Equity multiple: 1.32×
• Total profit: $31,524
• Equity at exit: $52,186

10-year hold

• IRR: 14.8%
• Equity multiple: 2.02×
• Total profit: $99,627
• Equity at exit: $30,262

Cash invested: $98,000 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $5,602 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$273 /mo · $3,278/yr
• Insurance: −$146
• HOA: −$533
• Vacancy / Maint / Mgmt: −$1,176
• Net cashflow: $1,638

Break-even live

Break-even rent $3,528

Max offer price $350,000

Occupancy floor 66%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6478 Waverly Green Way Naples, FL	3.0	2.5	1711	$10,000	$5.84	23d	1	0.36mi
6522 Waverly Green Way Naples, FL	3.0	2.0	2039	$4,500	$2.21	23d	1	0.37mi
16097 Ravina Way #36 Naples, FL	3.0	2.5	1580	$2,395	$1.52	21d	1	0.41mi
250 Willowick Dr Naples, FL	3.0	2.0	1469	$3,500	$2.38	23d	1	0.48mi
5630 Sherborn Dr #202 Naples, FL	3.0	2.0	2005	$7,500	$3.74	23d	1	0.52mi
208 Erie Dr Unit 1355591P Naples, FL	3.0	2.0	1754	$5,550	$3.16	14d	1	0.56mi
16208 Parque Ln Naples, FL	3.0	2.0	2000	$12,500	$6.25	23d	1	0.62mi
5455 Worthington Ln #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	23d	1	0.62mi
5455 Worthington Ln #202 Naples, FL	2.0	2.0	1427	$3,900	$2.73	23d	1	0.62mi
16188 Parque Ln Naples, FL	3.0	2.0	1974	$5,500	$2.79	23d	1	0.63mi
5935 Northridge Dr Naples, FL	2.0	2.0	1671	$2,995	$1.79	23d	1	0.67mi
5870 3 Iron Dr Unit 4-401 Naples, FL	3.0	2.0	1633	$8,000	$4.90	23d	1	0.69mi
5765 Grande Reserve Way Unit 7-702 Naples, FL	2.0	2.0	1800	$7,500	$4.17	23d	1	0.72mi
5885 Three Iron Dr #1102 Naples, FL	3.0	2.0	1633	$7,000	$4.29	23d	1	0.77mi
5963 Trophy Dr #2002 Naples, FL	2.0	2.0	2160	$8,000	$3.70	23d	1	0.77mi
5145 Cobble Creek Ct #202 Naples, FL	2.0	2.0	1798	$2,600	$1.45	21d	1	0.79mi
5325 Andover Dr #101 Naples, FL	2.0	2.0	1654	$5,250	$3.17	23d	1	0.79mi
6017 Trophy Dr #601 Naples, FL	3.0	2.0	2160	$8,000	$3.70	23d	1	0.80mi
5892 Three Iron Dr #1504 Naples, FL	2.0	2.0	1793	$7,000	$3.90	23d	1	0.80mi
5886 Paradise Cir Naples, FL	3.0	3.0	1922	$6,800	$3.54	23d	1	0.80mi
5330 Andover Dr #102 Naples, FL	3.0	2.0	1740	$2,550	$1.47	23d	1	0.81mi
6029 Trophy Dr #301 Naples, FL	2.0	2.0	2160	$6,000	$2.78	23d	1	0.82mi
5705 Heron Ln #806 Naples, FL	2.0	2.0	1540	$7,000	$4.55	23d	1	0.84mi
5360 Andover Dr #202 Naples, FL	3.0	2.0	1928	$6,500	$3.37	23d	1	0.85mi
5130 Cobble Creek Ct Unit B202 Naples, FL	3.0	2.0	2050	$2,800	$1.37	14d	1	0.85mi
5632 Whisperwood Blvd #1601 Naples, FL	3.0	2.0	1856	$8,000	$4.31	23d	1	0.86mi
5967 Sand Wedge Ln #106 Naples, FL	2.0	2.0	1540	$2,875	$1.87	23d	1	0.88mi
5693 Heron Ln #502 Naples, FL	2.0	2.0	1490	$6,800	$4.56	23d	1	0.88mi
5963 Sand Wedge Ln #203 Naples, FL	2.0	2.0	1490	$5,750	$3.86	23d	1	0.91mi
5963 Sand Wedge Ln #205 Naples, FL	2.0	2.0	1478	$6,500	$4.40	23d	1	0.91mi
5945 Sand Wedge Ln #1003 Naples, FL	2.0	2.0	1490	$6,000	$4.03	23d	1	0.91mi
5645 Whisperwood Blvd #504 Naples, FL	2.0	2.0	1793	$6,000	$3.35	23d	1	0.91mi
5941 Sand Wedge Ln #1206 Naples, FL	2.0	2.0	1540	$3,450	$2.24	23d	1	0.92mi
5937 Sand Wedge Ln #1507 Naples, FL	2.0	2.0	1540	$6,500	$4.22	23d	1	0.92mi
5125 Cedar Springs Dr #204 Naples, FL	3.0	2.0	2177	$5,650	$2.60	23d	1	0.93mi
194 Wickliffe Dr Naples, FL	3.0	2.0	1798	$3,500	$1.95	23d	1	0.94mi
5923 Sand Wedge Ln #1906 Naples, FL	2.0	2.0	1540	$2,695	$1.75	21d	1	0.94mi
16432 Aberdeen Way Naples, FL	4.0	2.0	2055	$4,200	$2.04	23d	1	0.95mi
5944 Sand Wedge Ln #1108 Naples, FL	2.0	2.0	1478	$6,250	$4.23	23d	1	0.95mi
16366 Barclay Ct Naples, FL	4.0	2.0	2034	$4,750	$2.34	21d	1	0.95mi

HOA detail condo

• Monthly dues: $533 · $6,396/yr
• Likely covers: watercablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-18
   days on market $350,000 Active 51 DOM
2. 2026-06-17
   days on market $350,000 Active 50 DOM
3. 2026-06-16
   days on market $350,000 Active 49 DOM
4. 2026-06-15
   days on market $350,000 Active 48 DOM
5. 2026-06-14
   days on market $350,000 Active 46 DOM
6. 2026-06-10
   days on market $350,000 Active 43 DOM
7. 2026-06-09
   days on market $350,000 Active 42 DOM
8. 2026-06-08
   days on market $350,000 Active 41 DOM
9. 2026-06-07
   days on market $350,000 Active 40 DOM
10. 2026-06-03
    days on market $350,000 Active 36 DOM
11. 2026-06-02
    days on market $350,000 Active 35 DOM
12. 2026-06-01
    days on market $350,000 Active 34 DOM
13. 2026-05-31
    days on market $350,000 Active 33 DOM
14. 2026-05-30
    days on market $350,000 Active 32 DOM
15. 2026-05-13
    price $350,000
16. 2026-04-28
    listed $359,000 Active
17. 2025-07-31
    historical
18. 2025-07-07
    status Pending
19. 2025-05-13
    price $359,000
20. 2025-05-08
    price $359,999
21. 2025-03-20
    listed $369,000 Active
22. 2024-05-12
    historical
23. 2023-12-11
    price $389,000
24. 2023-11-15
    listed $398,000 Active
25. 2023-10-27
    historical
26. 2023-08-25
    status Active
27. 2023-08-16
    status Pending
28. 2023-08-09
    listed $399,900 Active
29. 2023-08-04
    historical
30. 2023-07-07
    price $414,900
31. 2023-06-22
    listed $439,000 Active
32. 2021-03-03
    soldstatus $230,000 Sold
33. 2021-01-21
    status Pending With Contingencies
34. 2020-12-16
    listed $237,000 Active
35. 2016-08-26
    price $210,000
36. 2016-08-25
    soldstatus $210,000
37. 2016-08-19
    soldstatus $210,000 Sold
38. 2016-08-19
    price $225,000
39. 2016-06-24
    status Pending With Contingencies
40. 2016-06-13
    price $225,000
41. 2016-03-30
    price $234,000
42. 2016-01-26
    price $239,000
43. 2015-12-18
    listed $249,000 Active
44. 2010-01-19
    listed $114,900

ⓘ 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: $3,278 · $273/mo
• Projected year-2 tax: $3,278 · $273/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,227
• − Mortgage interest: −$19,605
• − Property taxes: −$3,278
• − Insurance: −$1,750
• − Repairs & maintenance: −$5,378
• − Management: −$5,378
• − HOA: −$6,396
• − Depreciation: −$10,182
• Taxable income: $15,259
• Est. tax owed @ 24.0%: −$3,662
• After-tax cash flow: $15,998/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+204.6% since first listed

30 events — show timeline

• 2026-05-13 Price Changed $350,000 NAPLESMLS
• 2026-04-28 Listed $359,000 NAPLESMLS
• 2025-07-31 Listing Removed — NAPLESMLS
• 2025-07-07 Pending — NAPLESMLS
• 2025-05-13 Price Changed $359,000 NAPLESMLS
• 2025-05-08 Price Changed $359,999 NAPLESMLS
• 2025-03-20 Listed $369,000 NAPLESMLS
• 2024-05-12 Listing Removed — NAPLESMLS
• 2023-12-11 Price Changed $389,000 NAPLESMLS
• 2023-11-15 Listed $398,000 NAPLESMLS
• 2023-10-27 Listing Removed — NAPLESMLS
• 2023-08-25 Relisted — NAPLESMLS
• 2023-08-16 Pending — NAPLESMLS
• 2023-08-09 Listed $399,900 NAPLESMLS
• 2023-08-04 Listing Removed — NAPLESMLS
• 2023-07-07 Price Changed $414,900 NAPLESMLS
• 2023-06-22 Listed $439,000 NAPLESMLS
• 2021-03-03 Sold (MLS) $230,000 NAPLESMLS
• 2021-01-21 Pending — NAPLESMLS
• 2020-12-16 Listed $237,000 NAPLESMLS
• 2016-08-26 Price Changed $210,000 NAPLESMLS
• 2016-08-25 Sold (Public Records) $210,000 Public Records
• 2016-08-19 Price Changed $225,000 NAPLESMLS
• 2016-08-19 Sold (MLS) $210,000 NAPLESMLS
• 2016-06-24 Pending — NAPLESMLS
• 2016-06-13 Price Changed $225,000 NAPLESMLS
• 2016-03-30 Price Changed $234,000 NAPLESMLS
• 2016-01-26 Price Changed $239,000 NAPLESMLS
• 2015-12-18 Listed $249,000 NAPLESMLS
• 2010-01-19 Listed $114,900 NAPLESMLS

Property tax history

+7.0%/yr

Latest (2025): $3,278 · -7.9% YoY. Source: county tax records.