256 Palm Dr #1 · Naples, FL 34112

$169,900

2 bd · 2.0 ba · 1,010 sqft · Condo public records · 111 Days on market

Built 1974 $1094/mo HOA · 34% 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 +26.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 256 Palm Drive #1, a 2-bedroom, 2-bath first-floor condominium offering 1,010 square feet of comfortable living space in The Glades Golf & Country Club. This well-maintained unit features easy first-floor access and valuable updates including newer plumbing, an A/C system approximately 6 years old, and a hot water heater (2009). Priced at $174,900, it presents an exceptional opportunity to enjoy bundled golf living at an attractive price point. The Glades Golf & Country Club offers unlimited play on two beautifully maintained golf courses, 12 pickleball courts, Har-Tru tennis courts, 9 swimming pools, the popular 19th Hole Restaurant, bocce, shuffleboard, and a full c

Key facts

• Pickleball courts
• A/c system
• Two golf courses

Tags

• FIRST FLOOR ACCESS
• NEWER PLUMBING
• A/C SYSTEM
• HOT WATER HEATER
• TWO GOLF COURSES
• PICKLEBALL COURTS

Property features AI

Finance

• Other: Part of Glades / Glades Country Club development; No commercial use and no RV allowed
• HOA & community: Mandatory HOA with on-site management; Monthly condo fee of $1,094 (total annual recurring fees $13,128); One-time fees $150; Community is golf-course bundled; Community amenities include clubhouse, community pool, golf course, bocce court, putting green, tennis and pickleball courts, shuffleboard, restaurant, library, vehicle wash area, and internet access; HOA maintenance covers cable, golf course, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior and interior pest control, repairs, sewer, street maintenance, trash removal and water

Exterior

• Parking: Common parking
• Security: Impact resistant doors and windows (storm protection)
• Utilities: Central water; Central sewer; Central electric for heat and cooling
• Home design: Residential property; Low-rise building (1–3 stories); 2-story building
• Construction: Concrete block construction; Built in 1974
• Exterior features: Stucco exterior; Built-up/flat and shingle roofs; Impact resistant windows and sliding windows; Impact resistant doors; Zero lot line; Irrigation (central and reclaimed); Rear exposure faces west; View: see remarks

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Foyer; Dining area connected to family room; Screened lanai/porch; Turnkey furnished; Split bedroom floor plan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $27 ($321/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $155k (9.0% 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 soft (-1.7%/yr); 771 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,231/mo this rent would consume 56% of the median local household income ($70k/yr) (locally 980% 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 $1k of loan paydown is wiped out by about $5k 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 111 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $104k; list at $170k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 34% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.90% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.43%
• DSCR: 1.51
• GRM: 4.4

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: -22.2%
• Equity multiple: 0.28×
• Total profit: $-34,417
• Equity at exit: $25,333

10-year hold

• IRR: -57.7%
• Equity multiple: -0.28×
• Total profit: $-60,799
• Equity at exit: $14,690

Cash invested: $47,572 (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 34112

• Rents YoY: -1.7%
• Active inventory: 771
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,231 high
• Mortgage (P&I): −$891
• Tax from tax record: −$44 /mo · $524/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,094
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $27

Break-even live

Break-even rent $3,197

Max offer price $169,900

Occupancy floor 94%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
256 Palm Dr #6 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.00mi
240 Palm Dr Unit 48-1 Naples, FL	2.0	2.0	1100	$1,800	$1.64	23d	1	0.04mi
232 Palm Dr Unit 47-5 Naples, FL	2.0	2.0	1010	$2,500	$2.48	23d	1	0.06mi
239 Palm Dr #2 Naples, FL	2.0	2.0	1215	$4,000	$3.29	14d	1	0.06mi
265 Palm Dr Unit 265-2 Naples, FL	2.0	2.0	1215	$1,499	$1.23	14d	1	0.06mi
229 Palm Dr Unit 229-2 Naples, FL	2.0	2.0	1215	$4,400	$3.62	14d	1	0.08mi
216 Palm Dr #5 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.09mi
306 Palm Dr #2 Naples, FL	2.0	2.0	1270	$5,200	$4.09	23d	1	0.10mi
200 Palm Dr #7 Naples, FL	2.0	2.0	1010	$1,600	$1.58	14d	1	0.13mi
209 Palm Dr #1 Naples, FL	2.0	2.0	1215	$5,000	$4.12	14d	1	0.13mi
146 Lollypop Ln #851 Naples, FL	2.0	2.0	1335	$3,750	$2.81	23d	1	0.14mi
190 Palm Dr Unit 3085 Naples, FL	2.0	2.0	1251	$1,850	$1.48	14d	1	0.19mi
202 Peppermint Ln #2 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.19mi
195 Peppermint Ln Unit 881 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.19mi
195 Peppermint Ln #2 Naples, FL	2.0	2.0	1198	$2,600	$2.17	14d	1	0.19mi
195 Peppermint Ln Unit 884 Naples, FL	2.0	2.0	1335	$3,800	$2.85	14d	1	0.19mi
195 Peppermint Ln Unit 4 Naples, FL	2.0	2.0	1335	$2,500	$1.87	23d	1	0.19mi
348 Tern Dr Unit 4 Naples, FL	2.0	2.0	1270	$5,000	$3.94	23d	1	0.21mi
348 Tern Dr #2 Naples, FL	2.0	2.0	1270	$1,800	$1.42	14d	1	0.21mi
364 Tern Dr #4 Naples, FL	2.0	2.0	1264	$1,800	$1.42	14d	1	0.25mi
131 Teryl Rd Unit 3UNIT 3 Naples, FL	2.0	2.0	1080	$1,750	$1.62	14d	1	0.25mi
131 Teryl Rd Unit C3 Naples, FL	2.0	2.0	1080	$3,495	$3.24	23d	1	0.25mi
159 Teryl Rd #2 Naples, FL	2.0	2.0	1080	$5,200	$4.81	14d	1	0.28mi
154 Palm Dr Unit 1049699P Naples, FL	2.0	2.0	1248	$2,732	$2.19	21d	1	0.28mi
149 Palm Dr Unit 8617 Naples, FL	2.0	2.0	981	$2,000	$2.04	14d	1	0.30mi
2155 Great Blue Dr Naples, FL	1.0–3.0	1.0–2.0	895	$1,910	$2.13	14d	43	0.32mi
162 Teryl Rd Unit 6-2 Naples, FL	2.0	2.0	1188	$2,500	$2.10	23d	1	0.32mi
96 Glades Blvd Unit 513 Naples, FL	2.0	2.0	1370	$4,500	$3.28	14d	1	0.32mi
135 Palm Dr #12 Naples, FL	2.0	2.0	1180	$2,200	$1.86	14d	1	0.32mi
83 Glades Blvd #3 Naples, FL	2.0	2.0	1204	$5,200	$4.32	14d	1	0.41mi
581 Teryl Rd #5 Naples, FL	2.0	2.0	1403	$4,500	$3.21	14d	1	0.43mi
3608 Arctic Cir #514 Naples, FL	2.0	2.0	1250	$4,200	$3.36	23d	1	0.43mi
3350 Putney Ct Naples, FL	1.0–3.0	1.0–2.0	1038	$2,986	$2.88	14d	26	0.46mi
432 Teryl Rd Unit 1546319P Naples, FL	2.0	2.0	1496	$1,561	$1.04	14d	1	0.47mi
3676 Arctic Cir #112 Naples, FL	2.0	2.0	1246	$2,700	$2.17	21d	1	0.48mi
3618 Arctic Cir #3618 Naples, FL	2.0	2.0	1200	$3,450	$2.88	23d	1	0.48mi
3504 Antarctic Cir Naples, FL	2.0	2.0	1246	$3,000	$2.41	23d	1	0.49mi
3510 Antarctic Cir Unit 1 Naples, FL	2.0	2.0	1200	$2,350	$1.96	23d	1	0.50mi
4472 Beechwood Lake Dr Naples, FL	3.0	2.0	1352	$3,050	$2.26	23d	1	0.50mi
3005 Gordon St Naples, FL	3.0	2.0	967	$2,275	$2.35	23d	1	0.52mi

HOA detail condo

• Monthly dues: $1,094 · $13,128/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $169,900 Active 111 DOM
2. 2026-06-17
   days on market $169,900 Active 110 DOM
3. 2026-06-16
   days on market $169,900 Active 109 DOM
4. 2026-06-15
   days on market $169,900 Active 108 DOM
5. 2026-06-14
   days on market $169,900 Active 106 DOM
6. 2026-06-10
   days on market $169,900 Active 103 DOM
7. 2026-06-09
   days on market $169,900 Active 102 DOM
8. 2026-06-08
   days on market $169,900 Active 101 DOM
9. 2026-06-07
   days on market $169,900 Active 100 DOM
10. 2026-06-03
    days on market $169,900 Active 96 DOM
11. 2026-06-02
    days on market $169,900 Active 95 DOM
12. 2026-06-01
    days on market $169,900 Active 94 DOM
13. 2026-05-31
    remarks 691-char remark
14. 2026-05-31
    listed $169,900 Active 93 DOM

ⓘ 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: $524 · $44/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$886/yr (+$74/mo · 169.0%)

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

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 · 28 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: $38,776
• − Mortgage interest: −$9,517
• − Property taxes: −$524
• − Insurance: −$5,968
• − Repairs & maintenance: −$3,102
• − Management: −$3,102
• − HOA: −$13,128
• − Depreciation: −$4,943
• Taxable loss: −$1,508
• Est. tax savings @ 24.0%: +$362
• After-tax cash flow: $683/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

• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 27,193
• Household income: $69,842
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 980.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 9% Black 6% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 4% Romanian 3% Portuguese 2%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 17% 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: ▼ -235.10%
• Current HPI: 256.9182
• Rent YoY: ▼ -1.69%
• 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

+188.0% since first listed

15 events — show timeline

• 2026-05-31 Price Changed $169,900 NAPLESMLS
• 2026-02-27 Listed $174,900 NAPLESMLS
• 2023-11-30 Listing Removed — NAPLESMLS
• 2023-11-11 Listed $236,000 NAPLESMLS
• 2023-08-15 Listing Removed — NAPLESMLS
• 2023-06-01 Listed $246,700 NAPLESMLS
• 2021-01-08 Sold (Public Records) $103,900 Public Records
• 2021-01-06 Sold (MLS) $103,900 NAPLESMLS
• 2020-12-06 Pending — NAPLESMLS
• 2020-09-25 Listed $109,900 NAPLESMLS
• 2008-06-13 Sold (Public Records) $115,000 Public Records
• 2000-12-01 Sold (Public Records) $64,000 Public Records
• 1999-12-30 Sold (Public Records) $57,500 Public Records
• 1991-12-01 Sold (Public Records) $55,500 Public Records
• 1984-07-01 Sold (Public Records) $59,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $524 · +7.9% YoY. Source: county tax records.