1020 28th Ave N · Naples, FL 34103

$649,000

3 bd · 2.0 ba · 1,993 sqft · SingleFamily public records · 33 Days on market

Built 1980 8,276 sqft lot

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Why this score? — see what drove the D+ 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 +16.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime Naples Opportunity! Just 1.75 miles from the beach, 2.5 miles to Naples Community Hospital, and only 3 miles to Fifth Avenue South, this is your chance to own in one of Naples’s most desirable and rapidly evolving locations. Located in the emerging Sun Terrace neighborhood, this spacious 3-bedroom, 2-bath residence offers exceptional potential for investors, renovators, or families looking to create their dream home. Comparable remodeled homes of this size in the area are commanding sales exceeding $1.2M, making this an outstanding opportunity for a renovation project, fix-and-flip, or long-term appreciation. Built with solid construction, major improvements are already in place

Key facts

• New a c system
• Newer water heater
• World class dining

Tags

• NEW ROOF
• NEW A C SYSTEM
• NEWER WATER HEATER
• TOP RATED SCHOOL DISTRICTS
• WORLD CLASS DINING
• WORLD CLASS SHOPPING

Property features AI

Finance

• Other: Property type: Residential; Lot is regular with central irrigation; Lot dimensions approx. 60 x 140 (total area 0.19 acres); City-maintained paved road access; Possession at closing
• HOA & community: Non-gated community; No HOA maintenance or community amenities listed

Exterior

• Parking: Paved driveway; Attached 1-car garage
• Security: Shutters
• Utilities: Central water; Central sewer; Cable available
• Home design: Single-family residential; 1 story / ranch; Rear exposure facing south; Located in Sun Terrace development
• Construction: Built in 1980; Concrete block and wood frame construction; Shingle roof; Foundation information not provided
• Exterior features: Deck; Extra building/outbuilding; Stone exterior finish; Double-hung windows; Shutters for storm protection; Privacy wall (see remarks)

Interior

• Kitchen: Island kitchen; Pantry; Dishwasher; Disposal; Microwave; Range; Refrigerator/Freezer; Refrigerator with icemaker
• Bedrooms: 3 bedrooms (split bedroom floor plan)
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Bar and wet bar; Foyer; French doors; High-speed internet available; Pantry; Walk-in closet; Laundry tub; Open porch/lanai; Family room; Guest room; Guest bath; Negotiable furnished status; Four ceiling fans
• Laundry & utility: Washer/dryer hookup; Laundry in residence; Laundry tub; Automatic garage door opener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $649k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $610k (6.0% below list).
• Recommended offer: $610k (6.0% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Lake Park Elementary School (math 76% / reading 77%, grade A, #185 of 2,144 statewide, top 9%, 502 students, 39% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+14.6%/yr); 480 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $6,099/mo this rent would consume 63% of the median local household income ($117k/yr) (locally 311% 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 $4k of loan paydown is wiped out by about $19k 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 33 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $609,893 (6.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-51,630
• Equity at exit: $96,768

10-year hold

• IRR: 7.7%
• Equity multiple: 1.71×
• Total profit: $129,429
• Equity at exit: $56,114

Cash invested: $181,720 (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 34103

• Rents YoY: 14.6%
• Active inventory: 480
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $6,099 medium
• Mortgage (P&I): −$3,403
• Tax est. 1.5%: −$811 /mo · $9,735/yr
• Insurance: −$270
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,281
• Net cashflow: $333

Break-even live

Break-even rent $5,677

Max offer price $649,000

Occupancy floor 90%

Sensitivity live

Price	-10% $782	-5% $557	+0% $333	+5% $109	+10% $-115
Rent	-10% $-149	-5% $92	+0% $333	+5% $574	+10% $815
Rate	-1.0pp $660	-0.5pp $498	base $333	+0.5pp $165	+1.0pp $-6

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: $162,250
• Closing costs: $19,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2515 Royal Palm Ct Naples, FL	3.0	2.0	1875	$17,500	$9.33	24d	1	0.17mi
2261 11th St N Naples, FL	4.0	2.0	1428	$6,400	$4.48	24d	1	0.31mi
3105 Riviera Dr Unit A201 Naples, FL	2.0	2.0	1625	$8,000	$4.92	24d	1	0.40mi
1119 Ridge St Naples, FL	3.0	3.5	2221	$9,000	$4.05	24d	1	0.40mi
2400 14th St N Naples, FL	3.0	2.0	1464	$5,890	$4.02	15d	1	0.42mi
606 Wedge Dr Unit 1504171P Naples, FL	3.0	2.0	1959	$21,578	$11.01	24d	1	0.46mi
707 Port Side Dr Naples, FL	4.0	3.0	2490	$20,000	$8.03	24d	1	0.52mi
2728 Crayton Rd Naples, FL	3.0	3.0	2267	$19,000	$8.38	22d	1	0.53mi
2901 Crayton Rd Naples, FL	3.0	2.0	2025	$7,000	$3.46	15d	1	0.64mi
367 Mooring Line Dr Naples, FL	4.0	3.0	2413	$32,000	$13.26	22d	1	0.75mi
656 Binnacle Dr Naples, FL	3.0	2.0	1808	$10,000	$5.53	24d	1	0.77mi
535 Anchor Rode Dr Naples, FL	4.0	3.0	2422	$35,000	$14.45	24d	1	0.81mi
1097 Frank Whiteman Blvd Naples, FL	4.0	3.0	1590	$10,900	$6.86	24d	1	0.83mi
222 Harbour Dr #403 Naples, FL	2.0	3.0	1924	$11,000	$5.72	24d	1	0.84mi
222 Harbour Dr #105 Naples, FL	2.0	2.0	1393	$13,000	$9.33	24d	1	0.84mi
3722 Rachel Ln Naples, FL	3.0	3.0	2141	$20,000	$9.34	15d	1	0.85mi
635 Fountainhead Ln Naples, FL	4.0	3.0	2566	$19,000	$7.40	24d	1	0.89mi
2750 Gulf Shore Blvd N Naples, FL	2.0	2.0	1579	$9,400	$5.95	15d	2	0.91mi
2400 Gulf Shore Blvd N #603 Naples, FL	3.0	2.0	1840	$9,000	$4.89	22d	1	0.92mi
2258 Gulf Shore Blvd N Unit O1 Naples, FL	2.0	2.0	1491	$13,750	$9.22	24d	1	0.93mi
1530 Mandarin Rd Naples, FL	3.0	3.0	1635	$25,000	$15.29	24d	1	0.93mi
2216 Gulf Shore Blvd N Unit R3 Naples, FL	2.0	2.0	1265	$10,000	$7.91	24d	1	0.94mi
3070 Gulf Shore Blvd N #103 Naples, FL	2.0	2.0	1300	$8,000	$6.15	24d	1	0.97mi
735 Parkview Ln Naples, FL	2.0	2.0	1918	$11,000	$5.74	24d	1	0.98mi
1471 Mandarin Rd Naples, FL	3.0	2.0	1788	$6,500	$3.64	22d	1	0.99mi
740 Park Shore Dr Naples, FL	3.0	2.0	1964	$22,500	$11.46	24d	1	1.00mi
2885 Gulf Shore Blvd N #302 Naples, FL	2.0	2.0	1500	$20,000	$13.33	24d	1	1.00mi
1930 Gulf Shore Blvd N Unit A302S Naples, FL	2.0	2.0	1420	$6,995	$4.93	24d	1	1.01mi
1930 Gulf Shore Blvd N Unit D102 Naples, FL	2.0	2.0	1476	$6,500	$4.40	24d	1	1.02mi
2203 Gulf Shore Blvd N Unit E1 Naples, FL	2.0	2.0	1491	$17,500	$11.74	24d	1	1.02mi
2305 Gulf Shore Blvd N #313 Naples, FL	2.0	2.5	1624	$12,000	$7.39	24d	1	1.03mi
3400 Gulf Shore Blvd N Unit M3 Naples, FL	2.0	2.0	1337	$9,500	$7.11	24d	1	1.03mi
2211 Gulf Shore Blvd N Unit C4 Naples, FL	2.0	2.0	1265	$17,500	$13.83	24d	1	1.04mi
3115 Gulf Shore Blvd N Unit 412S Naples, FL	2.0	2.5	1505	$12,000	$7.97	24d	1	1.05mi
3115 Gulf Shore Blvd N Unit 203S Naples, FL	2.0	2.0	1505	$15,000	$9.97	24d	1	1.05mi
3115 Gulf Shore Blvd N Unit 608S Naples, FL	2.0	3.0	1792	$10,000	$5.58	24d	1	1.05mi
3930 Belair Ln Naples, FL	2.0	2.0	1300	$6,000	$4.62	24d	1	1.05mi
1910 Gulf Shore Blvd N Naples, FL	2.0	2.0	1290	$9,200	$7.13	24d	2	1.05mi
3215 Gulf Shore Blvd N Unit 704N Naples, FL	2.0	2.5	1505	$14,000	$9.30	24d	1	1.08mi
1281 10th St N Naples, FL	4.0	2.0	1580	$7,000	$4.43	24d	1	1.09mi

Listing history 10 events

1. 2026-06-10
   status $649,000 Pending 33 DOM
2. 2026-06-09
   days on market $649,000 Active 33 DOM
3. 2026-06-08
   days on market $649,000 Active 32 DOM
4. 2026-06-07
   days on market $649,000 Active 31 DOM
5. 2026-06-03
   days on market $649,000 Active 27 DOM
6. 2026-06-02
   pricedays on market $649,000 Active 26 DOM
7. 2026-06-01
   days on market $749,900 Active 25 DOM
8. 2026-05-31
   days on market $749,900 Active 24 DOM
9. 2026-05-30
   days on market $749,900 Active 23 DOM
10. 2026-05-07
    listed $749,900 Active

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 42% 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: $73,187
• − Mortgage interest: −$36,354
• − Property taxes: −$9,735
• − Insurance: −$3,245
• − Repairs & maintenance: −$5,855
• − Management: −$5,855
• − Depreciation: −$18,880
• Taxable loss: −$6,737
• Est. tax savings @ 24.0%: +$1,617
• After-tax cash flow: $5,614/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): 11,299
• Household income: $116,875
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 311.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Portuguese 2%
• Foreign-born: 13% · Canada
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -327.53%
• Current HPI: 315.1396
• Rent YoY: ▲ 14.55%
• 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

1 event — show timeline

• 2026-05-07 Listed $749,900 NAPLESMLS

Property tax history

+1.0%/yr

Latest (2025): $1,276 · +2.6% YoY. Source: county tax records.