1087 Forest Lakes Dr Unit 1-303 · Naples, FL 34105

$125,000

2 bd · 2.0 ba · 1,000 sqft · Condo · 68 Days on market

Built 1975 Good condition $897/mo HOA · 38% of rent ↓ 11% since listing

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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 +17.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2 bedroom 2 bathroom condo in the highly-desired, centrally located 55+ community of Forest Lakes has incredible golf course views without the fees of a golf course community! This beautifully situated third-floor condo, with lots of natural light, offers the conveniences of an en-suite bathroom in the second bedroom, a common elevator, common laundry on your floor, and trash chute for easy disposal of trash. New AC 2022, water heater 10/2021. Only 2 miles to Clam Pass Beach, close to shopping and restaurants, and all the charm of downtown Naples is less than 7 miles away. The Forest Lakes amenities include billiards, a clubhouse, three community pools, shuffleboard, tennis courts, a

Key facts

• Clam pass beach
• Trash chute
• Billiards

Tags

• GOLF COURSE VIEWS
• ELEVATOR
• COMMON LAUNDRY
• TRASH CHUTE
• CLAM PASS BEACH
• BILLIARDS

Property features AI

Finance

• Other: Part of Forest Lakes development (Forest Lakes sub-condo); Complex has 352 units; building contains 27 units; 3 units per floor; building has 1 floor
• Financial info: Total annual recurring HOA/condo-related fees reported
• HOA & community: Mandatory HOA (professional management); Quarterly condo fee; Condo fee listed quarterly; Maintenance covers insurance, lawn/land maintenance, legal/accounting, manager, master association fee, exterior pest control, recreation facilities, reserves, street lights, and trash removal; Community amenities: clubhouse, community pool, exercise room, tennis court, billiards, shuffleboard, community room, bike storage, common laundry, trash chute, vehicle wash area, streetlights

Exterior

• Parking: 1 assigned parking space; Guest parking available
• Security: Impact resistant windows (storm protection)
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1–3 stories); Florida-style building; Rear exposure faces northeast; Unit/lot number 303
• Construction: Concrete block construction; Built in 1975; Built-up or flat roof; Stucco finish
• Exterior features: Stucco exterior; Impact resistant windows; Single-hung windows; Sliding windows; Electric shutters; Central irrigation; Golf course and landscaped views with partial building views; Paved road access; Deeded property restrictions: no commercial, no motorcycles, no RV

Interior

• Kitchen: Pantry; Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms with split-bedroom floor plan
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; Primary bathroom with combo tub and shower
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Cable prewire; Closet cabinets; Pantry; Smoke detectors; Walk-in closet; Window coverings; Dining area in living room; Guest bath; Guest room; Screened lanai/porch; Common elevator
• Laundry & utility: Common laundry (community)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% 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 flat; 329 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 31% of the median local income ($92k/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 $864 of loan paydown is wiped out by about $4k 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 68 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.89% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.48×
• Total profit: $-18,096
• Equity at exit: $18,638

10-year hold

• IRR: -15.0%
• Equity multiple: 0.30×
• Total profit: $-24,553
• Equity at exit: $10,808

Cash invested: $35,000 (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 34105

• Home prices YoY: -30.5%
• Rents YoY: 0.8%
• Active inventory: 329
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,360 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$897
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $103

Break-even live

Break-even rent $2,229

Max offer price $125,000

Occupancy floor 91%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1086 Forest Lakes Dr Unit 9303 Naples, FL	2.0	2.0	1000	$2,395	$2.40	13d	1	0.05mi
260 Quail Forest Blvd Naples, FL	1.0–2.0	1.0–2.0	875	$2,533	$2.89	13d	22	0.09mi
287 Quail Forest Blvd #117 Naples, FL	2.0	2.0	993	$1,695	$1.71	13d	1	0.11mi
287 Quail Forest Blvd #117 Naples, FL	2.0	2.0	993	$1,995	$2.01	21d	1	0.11mi
1085 Forest Lakes Dr Unit 8106 Naples, FL	2.0	2.0	1000	$1,900	$1.90	13d	1	0.12mi
1085 Forest Lakes Dr Unit 8202 Naples, FL	2.0	2.0	1086	$2,800	$2.58	13d	1	0.12mi
1085 Forest Lakes Dr Unit 8305 Naples, FL	1.0	1.0	766	$3,000	$3.92	13d	1	0.12mi
170 Turtle Lake Ct Naples, FL	2.0	2.0	842	$2,975	$3.53	13d	1	0.16mi
180 Turtle Lake Ct #102 Naples, FL	2.0	2.0	842	$1,850	$2.20	21d	1	0.18mi
100 Forest Lakes Blvd Naples, FL	1.0–2.0	2.0	842	$3,500	$4.16	13d	3	0.19mi
200 Turtle Lake Ct #109 Naples, FL	2.0	2.0	842	$1,295	$1.54	23d	1	0.21mi
225 Turtle Lake Ct Naples, FL	1.0–2.0	1.0–2.0	740	$1,900	$2.57	23d	2	0.22mi
190 Turtle Lake Ct Unit 6 Naples, FL	2.0	2.0	842	$2,100	$2.49	13d	1	0.22mi
175 Turtle Lake Ct Naples, FL	1.0–2.0	1.0–2.0	740	$1,650	$2.23	13d	2	0.24mi
200 Forest Lakes Blvd #111 Naples, FL	2.0	2.0	842	$3,100	$3.68	13d	1	0.32mi
499 Forest Lakes Blvd #105 Naples, FL	2.0	2.0	919	$1,950	$2.12	13d	1	0.36mi
300 Forest Lakes Blvd Naples, FL	2.0	2.0	842	$2,700	$3.21	23d	2	0.39mi
1044 Woodshire Ln Unit B212 Naples, FL	3.0	2.0	1250	$8,000	$6.40	23d	1	0.42mi
400 Forest Lakes Blvd Naples, FL	2.0	2.0	842	$2,350	$2.79	21d	4	0.46mi
501 Forest Lakes Blvd #111 Naples, FL	2.0	2.0	919	$2,300	$2.50	13d	1	0.48mi
1545 Oyster Catcher Pt Unit A Naples, FL	2.0	2.0	1124	$2,200	$1.96	13d	1	0.52mi
1554 Oyster Catcher Pt Unit C Naples, FL	2.0	2.0	1124	$2,900	$2.58	23d	1	0.55mi
1629 Spoonbill Ln Unit 1629-A Naples, FL	2.0	2.0	1250	$2,000	$1.60	13d	1	0.62mi
5934 Premier Way Naples, FL	1.0–3.0	1.0–3.0	1350	$3,618	$2.68	13d	29	0.68mi
1400 Pompei Ln Unit S-21 Naples, FL	2.0	2.0	1025	$3,000	$2.93	23d	1	0.74mi
1400 Pompei Ln Unit O-21 Naples, FL	2.0	2.0	1025	$2,200	$2.15	23d	1	0.74mi
1400 Pompei Ln Naples, FL	2.0	2.0	1012	$1,888	$1.86	23d	2	0.74mi
1860 Bald Eagle Dr Unit 403B Naples, FL	2.0	2.0	1325	$3,000	$2.26	13d	1	0.77mi
1350 Misty Pines Cir Unit E-204 Naples, FL	2.0	2.0	1200	$7,500	$6.25	13d	1	0.89mi
500 Misty Pines Cir #206 Naples, FL	2.0	2.0	1260	$6,000	$4.76	13d	1	0.91mi
500 Misty Pines Cir Unit 2-204 Naples, FL	2.0	2.0	1260	$5,750	$4.56	13d	1	0.92mi
4525 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	23d	1	0.96mi
4523 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	23d	1	0.96mi
1100 Pine Ridge Rd Naples, FL	1.0	1.0	868	$2,125	$2.45	13d	3	1.05mi
1082 Capri Dr Naples, FL	3.0	2.0	1500	$9,000	$6.00	23d	1	1.12mi
3308 Europa Dr #30 Naples, FL	2.0	2.0	1205	$5,500	$4.56	23d	1	1.12mi
5301 Summerwind Dr Naples, FL	1.0–2.0	1.0–2.0	836	$1,864	$2.23	13d	12	1.20mi
2070 Arbour Walk Cir #3214 Naples, FL	1.0	1.0	760	$1,600	$2.11	21d	1	1.30mi
2581 Poinciana St Naples, FL	3.0	2.0	1255	$9,000	$7.17	23d	1	1.33mi
2058 Arbour Walk Cir #3322 Naples, FL	2.0	2.0	918	$2,000	$2.18	23d	1	1.33mi

HOA detail condo

• Monthly dues: $897 · $10,764/yr
• Likely covers: watertrashpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $125,000 Active 68 DOM
2. 2026-06-17
   days on market $125,000 Active 67 DOM
3. 2026-06-16
   days on market $125,000 Active 66 DOM
4. 2026-06-15
   days on market $125,000 Active 65 DOM
5. 2026-06-14
   days on market $125,000 Active 63 DOM
6. 2026-06-10
   days on market $125,000 Active 60 DOM
7. 2026-06-09
   days on market $125,000 Active 59 DOM
8. 2026-06-08
   days on market $125,000 Active 58 DOM
9. 2026-06-07
   days on market $125,000 Active 57 DOM
10. 2026-06-03
    pricedays on market $125,000 Active 53 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $129,900 Active 52 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 64% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $28,314
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,265
• − Management: −$2,265
• − HOA: −$10,764
• − Depreciation: −$3,636
• Taxable loss: −$119
• Est. tax savings @ 24.0%: +$28
• After-tax cash flow: $1,266/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained 2-bedroom 2-bathroom condo in Forest Lakes offers golf course views and is located in a highly-desired community. The property is in good condition with minor cosmetic updates needed.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and resale value
• Both Replace ceiling fans — Improves air circulation and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and resale value ↑
• Both Replace ceiling fans — Improves air circulation and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 15,441
• Household income: $92,214
• Rent vs Own: 29.7% rent · 70.3% own
• Severe rent burden: 780.0

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 14% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 3% Salvadoran 1%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 3%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 3%

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: ▼ -124.65%
• Current HPI: 283.9084
• Rent YoY: ▲ 0.85%
• 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

-10.7% since first listed

3 events — show timeline

• 2026-06-03 Price Changed $125,000 NAPLESMLS
• 2026-05-15 Price Changed $129,900 NAPLESMLS
• 2026-04-11 Listed $139,900 NAPLESMLS