3972 Bishopwood Ct E #203 · Golden Gate, FL 34114

$315,000

2 bd · 2.0 ba · 1,261 sqft · Condo public records · 111 Days on market

Built 2001 $704/mo HOA · 24% of rent

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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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Appreciation +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Listing remarks

Welcome to Forest Glen, one of the most desirable bundled golf communities in Naples. Natural light fills this second-floor 2-bedroom, 2-bath garden home, offered turnkey furnished, including a full golf membership, no waitlist, so you can start enjoying everything Forest Glen has to offer from the moment you arrive. The home comes with a one-car garage, and owners are welcome to keep their own private golf cart, making it easy to embrace the golfing lifestyle fully. The screened lanai overlooks the 4th tee, lake, and golf course, a perfect spot to start your morning or wind down your evenings. An easy stroll from the community center, the social hub of Forest Glen, puts the best of this co

Key facts

• Overlooks lake
• Community center
• Full golf membership

Tags

• BUNDLED GOLF COMMUNITY
• FULL GOLF MEMBERSHIP
• SCREENED LANAI
• OVERLOOKS LAKE
• OVERLOOKS GOLF COURSE
• COMMUNITY CENTER

Property features AI

Finance

• Financial info: Total annual recurring fees and total one-time fees apply
• HOA & community: Mandatory HOA; Quarterly master HOA fee; Quarterly condo fee; Professional management; HOA maintenance covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, interior pest control, repairs, reserves, security, sewer, trash removal, and water; Community amenities include clubhouse, community pool and spa, exercise room, business center, restaurant, library, bike/jog paths, sidewalks, streetlights, bocce, bocce, bocce court, tennis courts, pickleball, putting green, golf course (golf-bundled), cabana, community room, and underground utilities; One-time mandatory club fee and other one-time fees apply

Exterior

• Parking: Detached 1-car garage
• Security: Gated community with guard at gate
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden-style unit; Low-rise building (1 story); Rear exposure facing south; Part of Forest Glen development (Bishopwood East I, Lot/Unit 203)
• Construction: Concrete block construction; Tile roof; Built in 2001
• Exterior features: Pond; Automatic sprinkler system; Single-hung and sliding windows; Stucco exterior; Lakefront; Golf course and lake views; Reclaimed irrigation water; Paved road access; Zero lot line

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Refrigerator; Self-cleaning oven
• Bedrooms: 2 bedrooms in a 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: Cable prewire; Foyer; Pantry; Smoke detectors; Walk-in closet; Window coverings; Turnkey furnished; Screened lanai/porch; 2 ceiling fans; 6 total rooms
• Laundry & utility: Laundry in residence; Washer; Dryer; Auto garage door

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (5.2% below list).
• Recommended offer: $249k (21.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#455 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B; Watch: employment D+, amenities F, commute 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: Collier Charter Academy (math 43% / reading 55%, grade D, #1,134 of 2,144 statewide, top 54%, 639 students, 54% FRL, charter); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL).
• Market conditions: Rents rising (+3.2%/yr); 900 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 40% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $2k 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 ($287k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $235k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $248,906 (21.0% 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 111 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.09%
• DSCR: 0.77
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.48% appreciation · 3.21% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.40×
• Total profit: $-53,302
• Equity at exit: $68,832

10-year hold

• IRR: -7.3%
• Equity multiple: 0.39×
• Total profit: $-54,095
• Equity at exit: $66,304

Cash invested: $88,200 (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 34114

• Home prices YoY: -0.6%
• Rents YoY: 3.2%
• Active inventory: 900
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,986 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$246 /mo · $2,947/yr
• Insurance: −$131
• HOA: −$704
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $-374

Break-even live

Break-even rent $3,459

Max offer price $248,906

Occupancy floor —

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3973 Bishopwood Ct E #104 Naples, FL	3.0	2.0	1261	$2,295	$1.82	23d	1	0.05mi
3973 Bishopwood Ct E Unit 1546214P Naples, FL	3.0	2.0	1442	$2,435	$1.69	14d	1	0.05mi
3964 Bishopwood Ct E #202 Naples, FL	2.0	2.0	1417	$3,400	$2.40	21d	1	0.06mi
3964 Bishopwood Ct E Unit 202 Naples, FL	2.0	2.0	1417	$1,810	$1.28	23d	1	0.06mi
3964 Bishopwood Ct E Unit 1-202 Naples, FL	2.0	2.0	1417	$3,400	$2.40	14d	1	0.06mi
3981 Bishopwood Ct E #104 Naples, FL	2.0	2.0	1417	$2,750	$1.94	23d	1	0.09mi
3940 Loblolly Bay Dr Unit 2-104 Naples, FL	2.0	2.0	1300	$4,500	$3.46	23d	1	0.09mi
3950 Loblolly Bay Dr #402 Naples, FL	2.0	2.0	1185	$1,660	$1.40	14d	1	0.15mi
3950 Loblolly Bay Dr Unit 3-402 Naples, FL	2.0	2.0	1185	$4,200	$3.54	23d	1	0.15mi
3830 Sawgrass Way #2934 Naples, FL	2.0	2.0	1100	$4,250	$3.86	23d	1	0.80mi
3830 Sawgrass Way #2944 Naples, FL	2.0	2.0	1125	$5,350	$4.76	14d	1	0.80mi
3820 Sawgrass Way #3046 Naples, FL	2.0	2.0	1232	$4,800	$3.90	23d	1	0.83mi
9300 Marino Cir Naples, FL	1.0–3.0	1.0–2.0	1098	$1,962	$1.79	14d	16	0.97mi
120 Bedzel Cir Naples, FL	1.0–3.0	1.0–2.0	1079	$2,518	$2.33	14d	38	1.11mi
9015 Madrid Cir Naples, FL	3.0	2.5	1670	$2,950	$1.77	23d	1	1.16mi
8984 Madrid Cir Naples, FL	3.0	2.5	1810	$3,000	$1.66	14d	1	1.26mi
8744 Madrid Cir Naples, FL	3.0	2.0	1630	$2,395	$1.47	23d	1	1.27mi
8916 Madrid Cir Naples, FL	3.0	2.5	1803	$3,375	$1.87	23d	1	1.32mi
8420 Naples Heritage Dr #1415 Naples, FL	2.0	2.0	1333	$2,700	$2.03	23d	1	1.43mi

HOA detail condo

• Monthly dues: $704 · $8,448/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $315,000 Active 111 DOM
2. 2026-06-17
   days on market $315,000 Active 110 DOM
3. 2026-06-16
   days on market $315,000 Active 109 DOM
4. 2026-06-15
   days on market $315,000 Active 108 DOM
5. 2026-06-14
   days on market $315,000 Active 106 DOM
6. 2026-06-10
   days on market $315,000 Active 103 DOM
7. 2026-06-09
   days on market $315,000 Active 102 DOM
8. 2026-06-08
   days on market $315,000 Active 101 DOM
9. 2026-06-07
   days on market $315,000 Active 100 DOM
10. 2026-06-03
    days on market $315,000 Active 96 DOM
11. 2026-06-02
    days on market $315,000 Active 95 DOM
12. 2026-06-01
    days on market $315,000 Active 94 DOM
13. 2026-05-31
    days on marketlisting id $315,000 Active 93 DOM
14. 2026-05-30
    days on market $315,000 Active 92 DOM
15. 2026-02-27
    listed $315,000 Active
16. 2026-02-16
    historical
17. 2025-11-25
    listed $359,900 Active
18. 2005-06-28
    soldstatus $235,000

ⓘ 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: $2,947 · $246/mo
• Projected year-2 tax: $2,947 · $246/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 30 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: $35,827
• − Mortgage interest: −$17,645
• − Property taxes: −$2,947
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,866
• − Management: −$2,866
• − HOA: −$8,448
• − Depreciation: −$9,164
• Taxable loss: −$9,684
• Est. tax savings @ 24.0%: +$2,324
• After-tax cash flow: $-2,166/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 — Golden Gate

• Score: 69/100
• State rank: #455
• US rank: #8290

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• City population: 34,872
• Metro: Naples-Marco Island, FL
• Population (ZIP): 23,559
• Household income: $89,334
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 550.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 13% Black 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 5% Romanian 4% Lithuanian 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 15% French/Haitian/Cajun 5% Other Indo-European 4%

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: ▼ -1.48%
• Current HPI: 266.5545
• Rent YoY: ▲ 3.21%
• 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

+34.0% since first listed

4 events — show timeline

• 2026-02-27 Listed $315,000 NAPLESMLS
• 2026-02-16 Listing Removed — NAPLESMLS
• 2025-11-25 Listed $359,900 NAPLESMLS
• 2005-06-28 Sold (Public Records) $235,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,947 · +10.8% YoY. Source: county tax records.