200 Stevens Landing Dr Unit B202 · Marco Island, FL 34145

$290,000

2 bd · 2.0 ba · 950 sqft · Condo · 163 Days on market

Built 1988 Good condition $925/mo HOA · 24% of rent ↓ 17% since listing

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Why this score? — see what drove the C- 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 +15.4/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• Rent growth +4.1/5.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A rare opportunity to live the Marco Island boating lifestyle—where privacy, water access, and white-sand beaches define everyday living. Tucked inside the intimate, waterfront enclave of Stevens Landing, this charming two-bedroom, two-bath residence offers the low-maintenance island living today's boaters crave—with a dock assignment included for the new owner. Launch your day from your own community dock, spend afternoons exploring the Gulf, and return home to a peaceful, private retreat surrounded by tropical beauty. Inside, the light-filled layout effortlessly connects the kitchen, dining, and living spaces—ideal for relaxed entertaining or unwinding after a day on the water. The kitchen features warm cabinetry, ample counter space, and a breakfast bar perfect for casual meals before heading out on the boat or beach. Neutral finishes throughout create a move-in-ready canvas, inviting you to personalize the space to match your island vision. The living area opens to a screened lanai framed by lush greenery, offering a sense of seclusion rarely found in waterfront communities. Whether enjoying morning coffee, evening breezes, or sunset cocktails, this private outdoor space embodies the quiet luxury Marco Island is known for. The spacious primary suite provides serene views, generous closet space, and an en-suite bath designed for comfort and ease. A well-appointed guest bedroom and bath ensure friends and family enjoy their own private escape. Stevens Landing is prized for its boater-friendly lifestyle, assigned docks, and tranquil, residential feel, all just minutes from Marco Island's iconic white-sand beaches, upscale dining, boutique shopping, and endless outdoor adventures. Low maintenance. Waterfront access. Exceptional privacy. Whether you're seeking a full-time residence, a seasonal getaway, or a smart investment, this is your chance to secure a beautifully positioned condo in one of Marco Island's most desirable boating communities—and truly live the island lifestyle.

Key facts

• Screened lanai
• Community dock
• Dock assignment

Tags

• WATER ACCESS
• WHITE-SAND BEACHES
• DOCK ASSIGNMENT
• COMMUNITY DOCK
• LIGHT-FILLED LAYOUT
• SCREENED LANAI

Property features AI

Finance

• Other: Multi-unit property: 24 units in building, 72 units in complex, 2 units per floor, single-story in building
• Financial info: Taxes listed (for reference) — not included in HOA section
• HOA & community: Mandatory HOA with professional management; Monthly condo fee of $925; Total annual recurring HOA fees approximately $11,100; One-time fees of $150; HOA covers cable, insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserves, and security; Community amenities include BBQ/picnic area, bike storage, community boat dock, community pool, community spa/hot tub, exercise room, pickleball, tennis court, underground utilities, and vehicle wash area; Community type: Gated with tennis facilities

Exterior

• Parking: 1 assigned parking space; Paved parking; Under-building enclosed parking; Attached 1-car garage
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise building (1–3 stories); Built in 1988; Concrete block construction; Stucco exterior; Built-up or flat roof; Rear exposure faces north; Zero lot line; Bay waterfront with preserve view; Located in Marco Island / Stevens Landing
• Construction: Concrete block construction; Stucco finish; Built-up or flat roof; Year built: 1988
• Exterior features: Automatic sprinkler system; Storage; Sprinkler (central irrigation)

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Range; Refrigerator; Breakfast bar; Dining (living) area
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: High-speed internet available; Pantry; Smoke detectors; Common elevator; Family room; Screened lanai/porch; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-314 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (15.6% below list).
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $245k (15.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 71/100 on livability (#404 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, commute F, 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 (+6.6%/yr); 687 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,851/mo this rent would consume 46% of the median local household income ($102k/yr) (locally 314% 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 $2k of loan paydown is wiped out by about $9k 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 163 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $59k (17%) 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 24% 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 $244,618 (15.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
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 A-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: 1.33% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.36×
• Total profit: $-51,669
• Equity at exit: $43,240

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-3,433
• Equity at exit: $25,074

Cash invested: $81,200 (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 34145

• Rents YoY: 6.6%
• Active inventory: 687
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,851 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$925
• Vacancy / Maint / Mgmt: −$809
• Net cashflow: $-314

Break-even live

Break-even rent $4,248

Max offer price $244,618

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-213	+0% $-314	+5% $-414	+10% $-514
Rent	-10% $-618	-5% $-466	+0% $-314	+5% $-162	+10% $-9
Rate	-1.0pp $-168	-0.5pp $-240	base $-314	+0.5pp $-389	+1.0pp $-465

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2235 San Marco Rd Unit 5-204 Marco Island, FL	2.0	2.0	948	$2,100	$2.22	14d	1	0.45mi

HOA detail condo

• Monthly dues: $925 · $11,100/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $290,000 Active 163 DOM
2. 2026-06-17
   days on market $290,000 Active 162 DOM
3. 2026-06-16
   days on market $290,000 Active 161 DOM
4. 2026-06-15
   days on market $290,000 Active 160 DOM
5. 2026-06-14
   days on market $290,000 Active 158 DOM
6. 2026-06-10
   days on market $290,000 Active 155 DOM
7. 2026-06-09
   days on market $290,000 Active 154 DOM
8. 2026-06-08
   days on market $290,000 Active 153 DOM
9. 2026-06-07
   remarks 675-char remark
10. 2026-06-07
    listed $290,000 Active 152 DOM

ⓘ 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 10/10 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: $46,208
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$6,568
• − Repairs & maintenance: −$3,697
• − Management: −$3,697
• − HOA: −$11,100
• − Depreciation: −$8,436
• Taxable loss: −$7,884
• Est. tax savings @ 24.0%: +$1,892
• After-tax cash flow: $-1,871/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 · 13 photos

Good 75/100 Cosmetic rehab

This waterfront townhouse offers a low-maintenance lifestyle with a dock assignment and stunning views. The interior is in good condition with potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves aesthetics and is durable
• Both Replace light fixtures — Modernizes and improves energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves aesthetics and is durable ↑
• Both Replace light fixtures — Modernizes and improves energy efficiency ↑

ⓘ 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 — Marco Island

• Score: 71/100
• State rank: #404
• US rank: #7149

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing B- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marco Island, FL
• County: Collier County · 396,295 people
• City population: 16,205
• Metro: Naples-Marco Island, FL
• Population (ZIP): 16,205
• Household income: $101,523
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 314.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -374.55%
• Current HPI: 284.7538
• Rent YoY: ▲ 6.59%
• 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

-16.9% since first listed

10 events — show timeline

• 2026-05-18 Price Changed $290,000 BEARMLS
• 2026-05-18 Price Changed $290,000 MIML
• 2026-04-22 Price Changed $295,000 BEARMLS
• 2026-04-21 Price Changed $295,000 MIML
• 2026-03-05 Price Changed $315,000 BEARMLS
• 2026-03-04 Price Changed $315,000 MIML
• 2026-02-10 Price Changed $339,000 BEARMLS
• 2026-02-10 Price Changed $339,000 MIML
• 2026-01-06 Listed $349,000 MIML
• 2026-01-06 Listed $349,000 BEARMLS