473 12th Ave S · Naples, FL 34102

$275,000

1 bd · 1.0 ba · 755 sqft · Condo · 31 Days on market

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Why this score? — see what drove the A- 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
• Appreciation +7.0/10.0
• 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

C. 9092 - Prime location, bright and airy, 2nd floor apt with crown molding, plantation shutters, custom mirrors, walk-in closet, plus lots of closet space. Extra storage, liberal rental policy - not over 55 complex. Community pool and clubhouse. New range and refrigerator.

Key facts

• Clubhouse
• Rehabbed
• Pool

Tags

• REHABBED
• POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $275k).
• Recommended offer: $267k (3.0% 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 23d 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).
• This rent runs 43% of the median local income ($131k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k 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 $77k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y 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 $160k; list at $275k implies a 72% 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 $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.70% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.12%
• DSCR: 1.72
• GRM: 4.9

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: 23.4%
• Equity multiple: 2.47×
• Total profit: $113,395
• Equity at exit: $140,773

10-year hold

• IRR: 26.9%
• Equity multiple: 5.90×
• Total profit: $377,464
• Equity at exit: $231,325

Cash invested: $77,000 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 614
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $4,665 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$750
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $608

Break-even live

Break-even rent $3,895

Max offer price $275,000

Occupancy floor 82%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Broad Ave S Unit H404 Naples, FL	2.0	2.0	890	$9,995	$11.23	23d	1	0.02mi
421 12th Ave S Unit A1 Naples, FL	2.0	1.0	760	$6,400	$8.42	13d	1	0.03mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$3,000	$4.29	23d	2	0.04mi
546 Broad Ave S #546 Naples, FL	2.0	2.0	890	$4,800	$5.39	23d	1	0.09mi
609 12th Ave S #609 Naples, FL	2.0	2.0	860	$8,000	$9.30	23d	1	0.18mi
636 Broad Ave S Unit 1259386P Naples, FL	2.0	2.0	882	$4,307	$4.88	13d	1	0.18mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$2,800	$3.22	23d	2	0.28mi
1295 Gulf Shore Blvd S #218 Naples, FL	2.0	2.0	662	$10,479	$15.83	23d	1	0.29mi
960 7th St S #103 Naples, FL	1.0	1.0	534	$5,000	$9.36	23d	1	0.30mi
351 8th Ave S #351 Naples, FL	2.0	2.0	930	$4,000	$4.30	23d	1	0.38mi
291 8th Ave S Unit 291A Naples, FL	1.0	1.0	550	$3,900	$7.09	23d	1	0.39mi
250 7th Ave S #301 Naples, FL	2.0	2.0	1000	$10,000	$10.00	23d	1	0.43mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$2,500	$2.68	13d	2	0.46mi
365 5th Ave S #303 Naples, FL	2.0	2.0	1090	$13,000	$11.93	23d	1	0.58mi
950 7th Ave S #23 Naples, FL	1.0	1.0	631	$3,250	$5.15	13d	1	0.60mi
980 7th Ave S Naples, FL	1.0	1.0	540	$7,500	$13.89	23d	2	0.61mi
480 5th St S #102 Naples, FL	1.0	1.0	600	$6,500	$10.83	23d	1	0.62mi
540 4th Ave S #13 Naples, FL	1.0	1.0	580	$5,000	$8.62	23d	1	0.62mi
388 4th Ave S #388 Naples, FL	2.0	2.0	965	$13,000	$13.47	23d	1	0.63mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	23d	2	0.63mi
296 4th Ave S #296 Naples, FL	2.0	2.5	1120	$2,950	$2.63	21d	1	0.64mi
1100 8th Ave S Naples, FL	2.0	2.0	1218	$9,000	$7.39	13d	5	0.67mi
230 3rd Ave S #4 Naples, FL	2.0	2.5	978	$12,000	$12.27	23d	1	0.72mi
290 4th St S #202 Naples, FL	2.0	2.0	1058	$10,000	$9.45	23d	1	0.74mi
286 4th St S #203 Naples, FL	2.0	2.0	1058	$10,000	$9.45	23d	1	0.74mi
284 4th St S #103 Naples, FL	2.0	2.0	979	$9,000	$9.19	23d	1	0.74mi
282 4th St S Naples, FL	2.0	2.0	1058	$11,000	$10.40	23d	1	0.74mi
1360 Chesapeake Ave Unit 1372 Naples, FL	1.0	1.0	600	$1,850	$3.08	23d	1	0.82mi
805 River Point Dr Unit 307C Naples, FL	1.0	1.0	816	$2,700	$3.31	23d	1	0.84mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	23d	1	0.86mi
801 River Point Dr Unit 303A Naples, FL	1.0	1.0	815	$5,000	$6.13	21d	1	0.87mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	23d	1	0.87mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	23d	1	0.91mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.91mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	23d	4	0.91mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	13d	4	0.91mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	13d	1	0.95mi
766 Central Ave Naples, FL	2.0–3.0	2.0	855	$6,300	$7.37	21d	3	0.95mi
766 Central Ave Naples, FL	2.0–3.0	2.0	943	$5,000	$5.30	13d	4	0.95mi
450 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.5	1324	$5,500	$4.15	23d	6	0.96mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-15
   days on market $275,000 Active 31 DOM
2. 2026-06-10
   days on market $275,000 Active 26 DOM
3. 2026-06-09
   days on market $275,000 Active 25 DOM
4. 2026-06-08
   days on market $275,000 Active 24 DOM
5. 2026-06-07
   days on market $275,000 Active 23 DOM
6. 2026-06-02
   days on market $275,000 Active 18 DOM
7. 2026-06-01
   days on market $275,000 Active 17 DOM
8. 2026-05-31
   days on market $275,000 Active 16 DOM
9. 2026-05-30
   days on market $275,000 Active 15 DOM
10. 2026-05-16
    listed $275,000 Active
11. 2026-04-22
    listed $2,200
12. 2024-07-22
    historical $2,500
13. 2024-07-02
    listed $2,500
14. 2024-06-05
    historical $2,500
15. 2024-05-23
    listed $2,500
16. 2024-04-29
    historical $2,500
17. 2024-04-27
    listed $2,500
18. 2024-04-03
    historical $2,500
19. 2024-03-28
    listed $2,500
20. 2022-06-12
    price $6,000
21. 2014-02-27
    historical
22. 2013-12-27
    listed $274,000
23. 2013-03-25
    soldstatus $160,000 274-char remark

    Show marketing remark (274 chars)

    C. 9092 - Prime location, bright and airy, 2nd floor apt with crown molding, plantation shutters, custom mirrors, walk-in closet, plus lots of closet space. Extra storage, liberal rental policy - not over 55 complex. Community pool and clubhouse. New range and refrigerator.

24. 2013-02-13
    listed $199,000 274-char remark

    Show marketing remark (274 chars)

    C. 9092 - Prime location, bright and airy, 2nd floor apt with crown molding, plantation shutters, custom mirrors, walk-in closet, plus lots of closet space. Extra storage, liberal rental policy - not over 55 complex. Community pool and clubhouse. New range and refrigerator.

25. 2009-12-31
    historical
26. 2008-06-25
    listed $5,800,000
27. 2008-06-25
    historical
28. 2008-06-24
    listed $3,900,000

ⓘ 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 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: $55,976
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$6,494
• − Repairs & maintenance: −$4,478
• − Management: −$4,478
• − HOA: −$9,000
• − Depreciation: −$8,000
• Taxable income: $3,997
• Est. tax owed @ 24.0%: −$959
• After-tax cash flow: $6,338/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

-92.9% since first listed

19 events — show timeline

• 2026-05-16 Listed $275,000 FSBO.com
• 2026-04-22 Listed for Rent $2,200 BUILDIUM
• 2024-07-22 Rental Removed $2,500 BUILDIUM
• 2024-07-02 Listed for Rent $2,500 BUILDIUM
• 2024-06-05 Rental Removed $2,500 BUILDIUM
• 2024-05-23 Listed for Rent $2,500 BUILDIUM
• 2024-04-29 Rental Removed $2,500 BUILDIUM
• 2024-04-27 Listed for Rent $2,500 BUILDIUM
• 2024-04-03 Rental Removed $2,500 BUILDIUM
• 2024-03-28 Listed for Rent $2,500 BUILDIUM
• 2022-06-12 Price Changed $6,000 BUILDIUM
• 2014-02-27 Listing Removed — FORTMLS
• 2013-12-27 Listed $274,000 FORTMLS
• 2013-03-25 Sold (MLS) $160,000 NAPLESMLS
• 2013-02-13 Listed $199,000 NAPLESMLS
• 2009-12-31 Listing Removed — NAPLESMLS
• 2008-06-25 Listing Removed — NAPLESMLS
• 2008-06-25 Listed $5,800,000 NAPLESMLS
• 2008-06-24 Listed $3,900,000 NAPLESMLS