121 Kim Dr #121 · Berkshire Lakes, FL 34104

$163,999

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 94 Days on market

Built 2010 $250/mo HOA

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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
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your slice of paradise in Naples, Florida. This beautifully maintained 3 bedroom, 2 bathroom home built in 2010 is located in the highly desirable Blue Skys Mobile Home Park, a resident owned 55 plus cooperative community in East Naples. If you have been searching for affordable Naples living with low maintenance fees and resort style amenities, this is the opportunity you have been waiting for. Step inside and you will immediately feel the light, bright, coastal energy. The open concept living and dining area creates an easy flow perfect for entertaining guests or relaxing after a day at the beach. With three true bedrooms, you have flexible space for visiting family, a home off

Key facts

• Tennis
• Enclosed sunroom
• Newer roof

Tags

• ENCLOSED SUNROOM
• NEWER ROOF
• HEATED POOL
• PICKLEBALL
• TENNIS
• BOCCE BALL

Property features AI

Finance

• Other: Part of a 196-unit complex; single-unit building with 1 floor; Park restrictions include no commercial and no corporate buyers
• HOA & community: Mandatory HOA with on-site management; Monthly HOA fee of $250; Annual recurring fees approximately $3,000; one-time fees $100; HOA maintenance covers cable, internet/WiFi, lawn/land maintenance, sewer, water, trash removal, street maintenance and lights, insurance, manager, legal/accounting, recreation facilities, reserves; Community amenities include clubhouse, community pool and spa/hot tub, exercise room, billiards, BBQ/picnic area, bocce court, pickleball, shuffleboard, tennis courts

Exterior

• Parking: Detached carport with 2 carport spaces
• Utilities: Central water; Central sewer; Cable available; Electric service for heating and cooling
• Home design: Manufactured residential home; 1-story ranch design; Rear exposure faces west; Located in Blue Skys Mobile Home Park (mobile/manufactured community)
• Construction: Built in 2010; Vinyl siding exterior; Shingle roof; Manufactured construction
• Exterior features: Patio; Exterior storage; Landscaped area/view

Interior

• Kitchen: Dishwasher; Range; Refrigerator/ice maker; Pantry; Eat-in kitchen
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Cable prewired and high-speed internet available; Pantry; Smoke detectors; Walk-in closet; Window coverings; Split bedroom floor plan; Dining in living area and eat-in kitchen; Florida room; Great room; Screened lanai/porch
• Laundry & utility: Washer and dryer in residence; Laundry in residence

🏢 Co-op / cooperative unit. The $163,999 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $164k.

Deal economics

• At list price, monthly cash flow is $890 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $164k).
• Recommended offer: $149k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 (-1.1%/yr); 436 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 45% of the median local income ($72k/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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $164k implies a 993% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $149,239 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.64% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.26%
• DSCR: 2.04
• GRM: 5.1

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: 12.7%
• Equity multiple: 1.49×
• Total profit: $22,362
• Equity at exit: $24,453

10-year hold

• IRR: 19.0%
• Equity multiple: 2.36×
• Total profit: $62,509
• Equity at exit: $14,180

Cash invested: $45,920 (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 34104

• Rents YoY: -1.1%
• Active inventory: 436
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$860
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$68
• HOA: −$250
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $890

Break-even live

Break-even rent $1,555

Max offer price $163,999

Occupancy floor 62%

Sensitivity live

Price	-10% $983	-5% $937	+0% $890	+5% $844	+10% $797
Rent	-10% $678	-5% $784	+0% $890	+5% $996	+10% $1,102
Rate	-1.0pp $973	-0.5pp $932	base $890	+0.5pp $848	+1.0pp $804

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
529 Mardel Dr #311 Naples, FL	2.0	2.0	1093	$3,500	$3.20	24d	1	0.75mi
7065 Dennis Cir #302 Naples, FL	2.0	2.0	1097	$4,000	$3.65	21d	1	0.97mi
1051 Eastham Way Unit B104 Naples, FL	2.0	2.0	1091	$4,300	$3.94	14d	1	0.98mi
7320 Glenmoor Ln Unit 2206 Naples, FL	2.0	2.0	1053	$6,000	$5.70	14d	1	1.04mi
1075 Foxfire Ln Naples, FL	2.0	2.0	1092	$3,300	$3.02	24d	3	1.25mi
108 Santa Clara Dr #4 Naples, FL	2.0	2.0	974	$1,950	$2.00	14d	1	1.25mi
7380 Saint Ives Way Naples, FL	2.0	2.0	1026	$4,400	$4.29	24d	2	1.26mi
161 Santa Clara Dr #14 Naples, FL	2.0	2.0	1043	$2,000	$1.92	21d	1	1.29mi
7360 Saint Ives Way #2205 Naples, FL	2.0	2.0	1053	$1,925	$1.83	24d	1	1.30mi
190 Santa Clara Dr Unit 190-4 Naples, FL	2.0	2.0	1004	$1,800	$1.79	24d	1	1.35mi
7725 Tara Cir Naples, FL	1.0–3.0	1.0–2.0	929	$1,808	$1.95	14d	1	1.35mi
1600 Wellesley Cir Naples, FL	1.0–2.0	1.0–2.0	950	$1,900	$2.00	14d	12	1.38mi
1787 Reuven Cir Unit 1001 Naples, FL	2.0	2.0	1112	$1,300	$1.17	14d	1	1.38mi
4640 Santa Barbara Blvd Naples, FL	2.0–3.0	2.0	1164	$2,229	$1.91	24d	2	1.44mi

HOA detail

• Monthly dues: $250 · $3,000/yr

Listing history 20 events

1. 2026-06-07
   statusdays on market $163,999 Pending 94 DOM
2. 2026-06-03
   days on market $163,999 Active 92 DOM
3. 2026-06-02
   days on market $163,999 Active 91 DOM
4. 2026-06-01
   days on market $163,999 Active 90 DOM
5. 2026-05-31
   days on market $163,999 Active 89 DOM
6. 2026-05-30
   days on market $163,999 Active 88 DOM
7. 2026-05-23
   price $163,999
8. 2026-05-05
   price $164,999
9. 2026-05-03
   price $174,999
10. 2026-04-25
    price $176,999
11. 2026-04-15
    price $178,999
12. 2026-03-31
    price $180,999
13. 2026-03-16
    price $182,990
14. 2026-03-02
    listed $184,990 Active
15. 2017-05-12
    soldstatus $15,000
16. 2017-05-12
    soldstatus $15,000
17. 2001-02-26
    soldstatus $30,000
18. 1999-02-25
    soldstatus $21,000
19. 1997-12-18
    soldstatus $20,000
20. 1997-03-31
    soldstatus $22,500

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $1,361 · $113/mo
• Expected delta: +$763/yr (+$64/mo · 127.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,178
• − Mortgage interest: −$9,186
• − Property taxes: −$598
• − Insurance: −$820
• − Repairs & maintenance: −$2,574
• − Management: −$2,574
• − HOA: −$3,000
• − Depreciation: −$4,771
• Taxable income: $8,654
• Est. tax owed @ 24.0%: −$2,077
• After-tax cash flow: $8,605/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 — Berkshire Lakes

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,408
• Household income: $71,686
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1423.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 3% Hispanic 2%
• Foreign-born: 30% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · Spanish 24% French/Haitian/Cajun 5% Russian/Polish/Slavic 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: ▼ -252.48%
• Current HPI: 259.3498
• Rent YoY: ▼ -1.10%
• 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

+628.9% since first listed

14 events — show timeline

• 2026-05-23 Price Changed $163,999 NAPLESMLS
• 2026-05-05 Price Changed $164,999 NAPLESMLS
• 2026-05-03 Price Changed $174,999 NAPLESMLS
• 2026-04-25 Price Changed $176,999 NAPLESMLS
• 2026-04-15 Price Changed $178,999 NAPLESMLS
• 2026-03-31 Price Changed $180,999 NAPLESMLS
• 2026-03-16 Price Changed $182,990 NAPLESMLS
• 2026-03-02 Listed $184,990 NAPLESMLS
• 2017-05-12 Sold (Public Records) $15,000 Public Records
• 2017-05-12 Sold (Public Records) $15,000 Public Records
• 2001-02-26 Sold (Public Records) $30,000 Public Records
• 1999-02-25 Sold (Public Records) $21,000 Public Records
• 1997-12-18 Sold (Public Records) $20,000 Public Records
• 1997-03-31 Sold (Public Records) $22,500 Public Records

Property tax history

-4.3%/yr

Latest (2025): $598 · +7.5% YoY. Source: county tax records.