3030 Binnacle Dr #307 · Naples, FL 34103

$323,500

2 bd · 2.0 ba · 1,092 sqft · Condo public records · 35 Days on market

Built 1972 $985/mo HOA · 20% of rent ↓ 24% since listing

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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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Top-floor, turnkey-furnished 2 bedroom, 2 bathroom condo in the heart of the Moorings offering peaceful lake views and over 1,000 square feet of comfortable living space. Located just about a mile from the beach and minutes to Olde Naples, Venetian Village, Waterside Shops, and Mercato, this is an ideal opportunity to enjoy the Naples lifestyle full-time, seasonally, or as an investment property. Inside, the open layout connects the updated kitchen, dining area, and living room seamlessly to the screened lanai, creating an easy flow for both everyday living and entertaining. The kitchen features stainless steel appliances, granite countertops, shaker-style cabinetry and a pass-through to th

Key facts

• Renovated bathroom
• Walk-in closet
• Screened lanai

Tags

• UPDATED KITCHEN
• SCREENED LANAI
• ELECTRIC STORM SHUTTERS
• WALK-IN CLOSET
• RENOVATED BATHROOM
• IMPACT WINDOWS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Homeowners association with quarterly fee; Association fee covers management, cable TV, internet, insurance, irrigation water, grounds maintenance, pest control, reserve fund, sewer, trash and water; Community features include elevator, non-gated access, beach access/rights, pool, storage and management; 30 units in the community

Exterior

• Parking: Assigned parking (one space)
• Security: Security/high-impact doors
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Municipal irrigation
• Home design: Condo/Apartment (1 story); Entry level: 3; West-facing; Has a view; Resale property
• Construction: Built in block, concrete and stucco; Built-Up and flat roof
• Exterior features: Security/high-impact doors; Water feature; Lanai; Porch; Screened porch; Community pool

Interior

• Kitchen: Electric cooktop; Self-cleaning oven; Refrigerator; Freezer; Dishwasher; Disposal
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Separate shower; Shower only
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Impact glass windows; Furnished; Family/Dining room; Living/Dining room; Split bedrooms; Cable TV
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $324k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $324k).
• Recommended offer: $314k (3.0% 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 rising fast (+14.6%/yr); 479 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $4,857/mo this rent would consume 50% 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 $2k of loan paydown is wiped out by about $10k 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 + 8.0% rent growth), your $91k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($314k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 20% of rent.
• Climate carrying-cost: major 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 $313,795 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.50% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.88%
• DSCR: 1.44
• GRM: 5.6

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: 4.6%
• Equity multiple: 1.19×
• Total profit: $17,166
• Equity at exit: $48,235

10-year hold

• IRR: 19.2%
• Equity multiple: 3.10×
• Total profit: $190,097
• Equity at exit: $27,970

Cash invested: $90,580 (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: 479
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $4,857 medium
• Mortgage (P&I): −$1,696
• Tax from tax record: −$275 /mo · $3,295/yr
• Insurance: −$135
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$985
• Vacancy / Maint / Mgmt: −$1,020
• Net cashflow: $680

Break-even live

Break-even rent $3,997

Max offer price $323,500

Occupancy floor 81%

Sensitivity live

Price	-10% $863	-5% $771	+0% $680	+5% $588	+10% $496
Rent	-10% $296	-5% $488	+0% $680	+5% $871	+10% $1,063
Rate	-1.0pp $842	-0.5pp $762	base $680	+0.5pp $596	+1.0pp $510

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: $80,875
• Closing costs: $9,705
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3030 Binnacle Dr #201 Naples, FL	2.0	2.0	1092	$5,000	$4.58	24d	1	0.03mi
820 Ketch Dr #2 Naples, FL	2.0	2.0	1100	$5,700	$5.18	24d	1	0.06mi
820 Ketch Dr #3 Naples, FL	2.0	2.0	1100	$5,500	$5.00	24d	1	0.06mi
3200 Binnacle Dr Unit D3 Naples, FL	2.0	2.0	1180	$9,000	$7.63	21d	1	0.20mi
45 High Point Cir S #303 Naples, FL	2.0	2.0	1015	$5,500	$5.42	24d	1	0.47mi
333 Harbour Dr #211 Naples, FL	2.0	2.0	975	$5,500	$5.64	14d	1	0.52mi
788 Park Shore Dr Naples, FL	1.0–2.0	1.5–2.0	931	$5,500	$5.90	14d	3	0.53mi
222 Harbour Dr #105 Naples, FL	2.0	2.0	1393	$13,000	$9.33	24d	1	0.62mi
3070 Gulf Shore Blvd N #103 Naples, FL	2.0	2.0	1300	$8,000	$6.15	24d	1	0.69mi
3200 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1116	$8,500	$7.62	24d	1	0.69mi
3400 Gulf Shore Blvd N Unit M3 Naples, FL	2.0	2.0	1337	$9,500	$7.11	24d	1	0.69mi
3930 Belair Ln Naples, FL	2.0	2.0	1300	$6,000	$4.62	24d	1	0.75mi
2600 Gulf Shore Blvd N #64 Naples, FL	2.0	2.0	1200	$7,200	$6.00	24d	1	0.77mi
2885 Gulf Shore Blvd N #302 Naples, FL	2.0	2.0	1500	$20,000	$13.33	24d	1	0.77mi
2400 14th St N Naples, FL	3.0	2.0	1464	$5,890	$4.02	14d	1	0.78mi
2500 Gulf Shore Blvd N Unit S6 Naples, FL	2.0	2.0	1145	$7,500	$6.55	24d	1	0.79mi
3500 Gulf Shore Blvd N Naples, FL	2.0	2.0	1258	$7,650	$6.08	24d	2	0.83mi
2258 Gulf Shore Blvd N Unit O1 Naples, FL	2.0	2.0	1491	$13,750	$9.22	24d	1	0.86mi
2216 Gulf Shore Blvd N Unit R3 Naples, FL	2.0	2.0	1265	$10,000	$7.91	24d	1	0.86mi
3443 Gulf Shore Blvd N Naples, FL	2.0	2.0	1171	$12,750	$10.88	14d	11	0.87mi
4092 Belair Ln #15 Naples, FL	3.0	3.0	1500	$6,200	$4.13	24d	1	0.95mi
2203 Gulf Shore Blvd N Unit E1 Naples, FL	2.0	2.0	1491	$17,500	$11.74	24d	1	0.97mi
555 Park Shore Dr Unit B410 Naples, FL	2.0	2.0	1200	$6,000	$5.00	21d	1	0.98mi
2211 Gulf Shore Blvd N Unit C4 Naples, FL	2.0	2.0	1265	$17,500	$13.83	24d	1	0.98mi
2100 Gulf Shore Blvd N #101 Naples, FL	2.0	2.0	1200	$8,000	$6.67	24d	1	1.02mi
4001 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1247	$12,000	$9.62	24d	1	1.05mi
4001 Gulf Shore Blvd N #707 Naples, FL	2.0	2.0	1267	$20,000	$15.79	24d	1	1.05mi
4001 Gulf Shore Blvd N #803 Naples, FL	2.0	2.0	1267	$13,000	$10.26	24d	1	1.05mi
4001 Gulf Shore Blvd N #303 Naples, FL	2.0	2.0	1248	$9,000	$7.21	24d	1	1.05mi
4001 Gulf Shore Blvd N #505 Naples, FL	2.0	2.0	1271	$9,000	$7.08	14d	1	1.05mi
4001 Gulf Shore Blvd N #1104 Naples, FL	2.0	2.0	1267	$11,000	$8.68	24d	1	1.05mi
1950 Gulf Shore Blvd N Naples, FL	2.0	2.0	1060	$7,250	$6.84	24d	2	1.07mi
1930 Gulf Shore Blvd N Unit A302S Naples, FL	2.0	2.0	1420	$6,995	$4.93	24d	1	1.07mi
4005 Gulf Shore Blvd N #607 Naples, FL	2.0	2.0	1400	$14,000	$10.00	24d	1	1.08mi
4005 Gulf Shore Blvd N #605 Naples, FL	2.0	2.0	1267	$10,000	$7.89	24d	1	1.08mi
1930 Gulf Shore Blvd N Unit D102 Naples, FL	2.0	2.0	1476	$6,500	$4.40	24d	1	1.08mi
600 Neapolitan Way Naples, FL	1.0–2.0	2.0	832	$5,200	$6.25	24d	2	1.11mi
1910 Gulf Shore Blvd N Naples, FL	2.0	2.0	1290	$9,200	$7.13	24d	2	1.12mi
2011 Gulf Shore Blvd N #45 Naples, FL	2.0	2.0	1100	$8,500	$7.73	24d	1	1.12mi
1977 Gulf Shore Blvd N Naples, FL	2.0	2.0	1300	$9,500	$7.31	24d	3	1.14mi

HOA detail condo

• Monthly dues: $985 · $11,820/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $323,500 Active 35 DOM
2. 2026-06-17
   days on market $323,500 Active 34 DOM
3. 2026-06-16
   days on market $323,500 Active 33 DOM
4. 2026-06-15
   days on market $323,500 Active 32 DOM
5. 2026-06-14
   pricedays on market $323,500 Active 30 DOM
6. 2026-06-10
   days on market $325,000 Active 27 DOM
7. 2026-06-09
   days on market $325,000 Active 26 DOM
8. 2026-06-08
   days on market $325,000 Active 25 DOM
9. 2026-06-07
   days on market $325,000 Active 24 DOM
10. 2026-06-03
    days on market $325,000 Active 20 DOM
11. 2026-06-02
    days on market $325,000 Active 19 DOM
12. 2026-06-01
    days on market $325,000 Active 18 DOM
13. 2026-05-31
    days on market $325,000 Active 17 DOM
14. 2026-05-30
    days on market $325,000 Active 16 DOM
15. 2026-05-14
    listed $325,000 Active
16. 2026-05-02
    historical
17. 2026-02-13
    price $389,000
18. 2025-11-18
    listed $425,000 Active

ⓘ 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: $3,295 · $275/mo
• Projected year-2 tax: $3,295 · $275/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 7/10 Severe FEMA zone X (shaded) · 77% 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: $58,281
• − Mortgage interest: −$18,121
• − Property taxes: −$3,295
• − Insurance: −$2,415
• − Repairs & maintenance: −$4,663
• − Management: −$4,663
• − HOA: −$11,820
• − Depreciation: −$9,411
• Taxable income: $3,894
• Est. tax owed @ 24.0%: −$935
• After-tax cash flow: $7,220/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

-23.5% since first listed

4 events — show timeline

• 2026-05-14 Listed $325,000 FORTMLS
• 2026-05-02 Listing Removed — NAPLESMLS
• 2026-02-13 Price Changed $389,000 NAPLESMLS
• 2025-11-18 Listed $425,000 NAPLESMLS

Property tax history

+6.5%/yr

Latest (2025): $3,295 · +1.2% YoY. Source: county tax records.