5389 Treetops Dr · Naples Manor, FL 34113

$94,000

1 bd · 1.0 ba · 576 sqft · Condo · 61 Days on market

Built 1980 Good condition $642/mo HOA · 23% 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
• Rent growth +3.9/5.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

1 Bedroom / 1 Bath residence featuring a updated kitchen, granite countertops, and stainless steel appliances. Tile flooring runs throughout, complemented by a renovated bathroom and a convenient in-unit laundry room with washer and dryer. Enjoy a screened lanai with private porch entry—perfect for relaxing in the Florida breeze. Located in The Treetops at Naples, this community offers a prime location just minutes from Downtown Naples, world-class beaches, and Marco Island. An excellent opportunity for a rental investment or an ideal first home.

Key facts

• Renovated bathroom
• In-unit laundry room
• Screened lanai

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• RENOVATED BATHROOM
• IN-UNIT LAUNDRY ROOM
• SCREENED LANAI

Property features AI

Finance

• Other: Part of a complex with 120 units and 5 units in the building; One unit per floor; building has 1 floor
• Financial info: Information not provided
• HOA & community: Quarterly condo fee of $1,926; Total annual recurring HOA fees $7,704; One-time fees $100; Community pool; Professional management; Community type: Non-gated; HOA maintenance covers irrigation water, lawn/land maintenance, manager, exterior pest control, reserves, sewer, and water

Exterior

• Parking: Information not provided
• Security: Information not provided
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise building (1–3 stories); Single-story unit; Rear exposure facing south; Located in Treetops of Naples
• Construction: Wood frame construction; Built in 1980
• Exterior features: Stucco and wood siding exterior; Double hung windows; Rolled roof; Restrictions: Architectural, Deeded; Total area listed as 660 (unit)

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator/ice maker
• Bedrooms: 1 bedroom
• Flooring: Tile
• Bathrooms: 1 full bathroom; Master bathroom has shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Cable prewire; See remarks; Great room floor plan; Dining area in living room; Screened lanai/porch
• Laundry & utility: Washer in residence; Laundry in residence

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $94k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $94k).
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#615 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: schools F, 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.
• Market conditions: Rents rising fast (+5.6%/yr); 597 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 40% 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 $650 of loan paydown is wiped out by about $3k 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 + 5.6% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 23% of rent.
• 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,360 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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 F-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: 2.91% ✓
• Cap rate: 17.38%
• Cash-on-cash: 39.60%
• DSCR: 2.76
• GRM: 2.9

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: 18.4%
• Equity multiple: 1.80×
• Total profit: $20,929
• Equity at exit: $14,016

10-year hold

• IRR: 30.1%
• Equity multiple: 4.38×
• Total profit: $88,946
• Equity at exit: $8,127

Cash invested: $26,320 (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: 597
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,734 medium
• Mortgage (P&I): −$493
• Tax est. 1.5%: −$118 /mo · $1,410/yr
• Insurance: −$39
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$642
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $442

Break-even live

Break-even rent $2,175

Max offer price $94,000

Occupancy floor 79%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5222 Treetops Dr Naples, FL	1.0	1.0	600	$1,800	$3.00	23d	1	0.07mi
5314 Gilchrist St Naples, FL	2.0	1.0	636	$2,000	$3.14	13d	1	0.49mi

HOA detail condo

• Monthly dues: $642 · $7,704/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $94,000 Active 61 DOM
2. 2026-06-17
   days on market $94,000 Active 60 DOM
3. 2026-06-16
   days on market $94,000 Active 59 DOM
4. 2026-06-15
   days on market $94,000 Active 58 DOM
5. 2026-06-14
   days on market $94,000 Active 56 DOM
6. 2026-06-10
   days on market $94,000 Active 53 DOM
7. 2026-06-09
   days on market $94,000 Active 52 DOM
8. 2026-06-08
   days on market $94,000 Active 51 DOM
9. 2026-06-07
   days on market $94,000 Active 50 DOM
10. 2026-06-03
    days on market $94,000 Active 46 DOM
11. 2026-06-02
    days on market $94,000 Active 45 DOM
12. 2026-06-01
    days on market $94,000 Active 44 DOM
13. 2026-05-31
    days on market $94,000 Active 43 DOM
14. 2026-05-30
    days on market $94,000 Active 42 DOM
15. 2026-05-01
    status Active
16. 2026-04-01
    status Pending With Contingencies
17. 2026-03-25
    price $94,000
18. 2026-03-19
    listed $99,000 Active
19. 2026-03-12
    price $1,395
20. 2026-01-24
    listed $1,495
21. 2025-03-29
    historical $1,495
22. 2025-03-12
    price $1,495
23. 2025-03-08
    listed $1,595
24. 2025-02-16
    historical $1,595
25. 2025-01-07
    listed $1,595

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $32,813
• − Mortgage interest: −$5,265
• − Property taxes: −$1,410
• − Insurance: −$5,588
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − HOA: −$7,704
• − Depreciation: −$2,735
• Taxable income: $4,860
• Est. tax owed @ 24.0%: −$1,167
• After-tax cash flow: $4,138/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 · 8 photos

Good 75/100 Cosmetic rehab

This condo is in good condition with a recently updated kitchen and bathroom. It offers a screened lanai and is located in a prime location. Minor updates to the interior and exterior could further enhance its value.

Value-add opportunities

• Both Paint interior walls — Neutral paint color is standard but could be refreshed for a fresh look
• Both Replace ceiling fan — Ceiling fan is functional but could be updated for a more modern look
• Both Add outdoor lighting — Adding outdoor lighting would enhance curb appeal and safety
• Both Install smart home devices — Smart home devices can increase convenience and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Neutral paint color is standard but could be refreshed for a fresh look ↑
• Both Replace ceiling fan — Ceiling fan is functional but could be updated for a more modern look ↑
• Both Add outdoor lighting — Adding outdoor lighting would enhance curb appeal and safety ↑
• Both Install smart home devices — Smart home devices can increase convenience and property value ↑

ⓘ 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 Manor

• Score: 66/100
• State rank: #615
• US rank: #11875

Category grades

Amenities F Commute F Cost of living B+ Crime B Employment D- Housing A+ Health & safety A+ 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): 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

+5793.4% since first listed

11 events — show timeline

• 2026-05-01 Relisted — NAPLESMLS
• 2026-04-01 Pending — NAPLESMLS
• 2026-03-25 Price Changed $94,000 NAPLESMLS
• 2026-03-19 Listed $99,000 NAPLESMLS
• 2026-03-12 Price Changed $1,395 APPFOLIO
• 2026-01-24 Listed for Rent $1,495 APPFOLIO
• 2025-03-29 Rental Removed $1,495 APPFOLIO
• 2025-03-12 Price Changed $1,495 APPFOLIO
• 2025-03-08 Listed for Rent $1,595 APPFOLIO
• 2025-02-16 Rental Removed $1,595 APPFOLIO
• 2025-01-07 Listed for Rent $1,595 APPFOLIO