4940 Deerfield Way #201 · Pelican Marsh, FL 34110

$330,000

2 bd · 2.0 ba · 1,659 sqft · Condo public records · 96 Days on market

Built 1997 $759/mo HOA · 18% of rent

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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 +21.8/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 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

One or more photo(s) has been virtually staged, AI generated or rendered. Welcome to your dream lakefront retreat in beautiful Naples! This is a fantastic value with over 1650 sq ft of space in a gated community that is only 6 miles to Naples white sand beaches. This freshly painted, spacious 2 bedroom plus den end unit offers total privacy, with no neighboring buildings and boasts two lanais—one open and one screened—ideal for enjoying the serene lake views. Inside, you'll find an open concept floor plan with vaulted ceilings, updated flooring throughout and new carpet in the bedrooms. As part of a gated community, indulge in an array of amenities including a 60 ft lap pool, ho

Key facts

• Lakefront retreat
• Gated community
• Total privacy

Tags

• LAKEFRONT RETREAT
• TOTAL PRIVACY
• TWO LANAIS
• GATED COMMUNITY
• 60 FT LAP POOL
• HOT TUB

Property features AI

Finance

• Other: Lakeview at Carlton Lakes sub-condominium
• Financial info: Total units in complex: 800; Units in building: 8; 2 units per floor; 2 floors in building
• HOA & community: Mandatory HOA; Quarterly master HOA fee; Quarterly condo fee; Condo management; Maintenance covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserves, sewer and water; Community amenities include clubhouse, community pool, community spa/hot tub, exercise room, tennis courts, basketball, bocce court, shuffleboard, fishing pier, play area, bike and jog path, sidewalks, streetlights, BBQ/picnic area and internet access; Community type includes tennis facilities; Total annual recurring fees noted

Exterior

• Parking: 1 assigned parking space; Guest parking available; Detached 1-car carport
• Security: Gated community; Entry keypad
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Carriage/coach style in a low-rise (1–3) building; Rear exposure faces northwest; Located in Carlton Lakes development
• Construction: Built in 1997; Concrete block construction
• Exterior features: Tile roof; Single-hung windows; Stucco exterior finish; Gated community; Entry keypad; Lakefront view; Irrigation with reclaimed water; Lake/Canal irrigation; Paved road access; Zero-lot-line setting

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator/Freezer
• Bedrooms: 2 bedrooms plus den; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heating; Central electric cooling; Ceiling fans
• Interior features: High-speed internet available; Smoke detectors; Walk-in closet; Window coverings; Breakfast bar and dining in living area; Balcony; Den / study; Guest bathroom; Guest room; Laundry in residence; Open porch / lanai; 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 $330k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $300k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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.
• Zoned schools: Veterans Memorial Elementary School (math 78% / reading 79%, grade A, #141 of 2,144 statewide, top 7%, 743 students, 22% FRL); North Naples Middle School (math 79% / reading 73%, grade A, #34 of 571 statewide, top 6%, 903 students, 25% FRL); Gulf Coast High School (math 57% / reading 68%, grade B-, #93 of 667 statewide, top 14%, 2,447 students, 20% FRL) — zoned schools average 22% FRL vs 55% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 58% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.1%/yr); 595 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); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $4,121/mo this rent would consume 51% of the median local household income ($98k/yr) (locally 1006% 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.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $136k; list at $330k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $300,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.25% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 6.7

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: -10.0%
• Equity multiple: 0.65×
• Total profit: $-32,423
• Equity at exit: $49,204

10-year hold

• IRR: -6.2%
• Equity multiple: 0.66×
• Total profit: $-31,294
• Equity at exit: $28,532

Cash invested: $92,400 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $4,121 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$114 /mo · $1,369/yr
• Insurance: −$138
• HOA: −$759
• Vacancy / Maint / Mgmt: −$865
• Net cashflow: $515

Break-even live

Break-even rent $3,470

Max offer price $330,000

Occupancy floor 83%

Sensitivity live

Price	-10% $702	-5% $608	+0% $515	+5% $421	+10% $328
Rent	-10% $189	-5% $352	+0% $515	+5% $678	+10% $840
Rate	-1.0pp $681	-0.5pp $599	base $515	+0.5pp $429	+1.0pp $342

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4950 Deerfield Way #202 Naples, FL	2.0	2.0	1388	$2,000	$1.44	22d	1	0.05mi
4960 Deerfield Way Unit E102 Naples, FL	2.0	2.0	1202	$4,250	$3.54	15d	1	0.08mi
4910 Deerfield Way Unit A-203 Naples, FL	2.0	2.0	1388	$5,500	$3.96	15d	1	0.08mi
4910 Deerfield Way #103 Naples, FL	2.0	2.0	1200	$4,800	$4.00	22d	1	0.08mi
4970 Deerfield Way Unit F-203 Naples, FL	2.0	2.0	1388	$1,990	$1.43	15d	1	0.11mi
4910 Cougar Ct N Unit 1-205 Naples, FL	2.0	2.0	1377	$2,050	$1.49	15d	1	0.13mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.0	1202	$1,590	$1.32	15d	1	0.13mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.5	1202	$3,510	$2.92	25d	1	0.13mi
5130 Cobble Creek Ct Unit B202 Naples, FL	3.0	2.0	2050	$2,800	$1.37	15d	1	0.14mi
5045 Cedar Springs Dr #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	25d	1	0.15mi
5045 Cedar Springs Dr #203 Naples, FL	2.0	2.0	1427	$4,200	$2.94	25d	1	0.15mi
4945 Cougar Ct S #105 Naples, FL	2.0	2.0	1377	$2,750	$2.00	15d	1	0.20mi
5145 Cobble Creek Ct #202 Naples, FL	2.0	2.0	1798	$2,600	$1.45	22d	1	0.21mi
5125 Cedar Springs Dr #204 Naples, FL	3.0	2.0	2177	$5,650	$2.60	25d	1	0.21mi
5000 Immokalee Rd Naples, FL	1.0–3.0	1.0–2.0	1115	$3,186	$2.86	15d	68	0.21mi
4940 Cougar Ct S Unit 1545947P Naples, FL	2.0	2.0	1367	$2,185	$1.60	15d	1	0.23mi
4965 Sandra Bay Dr #102 Naples, FL	2.0	2.0	1377	$2,200	$1.60	15d	1	0.25mi
5360 Andover Dr #202 Naples, FL	3.0	2.0	1928	$6,500	$3.37	25d	1	0.25mi
5105 Cedar Springs Dr #101 Naples, FL	2.0	2.0	1650	$7,000	$4.24	25d	1	0.26mi
5330 Andover Dr #102 Naples, FL	3.0	2.0	1740	$2,550	$1.47	25d	1	0.28mi
4680 Saint Croix Ln Naples, FL	1.0–3.0	1.0–2.0	931	$2,000	$2.15	15d	2	0.30mi
4680 Saint Croix Ln #512 Naples, FL	3.0	2.0	1196	$2,490	$2.08	25d	1	0.31mi
5325 Andover Dr #101 Naples, FL	2.0	2.0	1654	$5,250	$3.17	25d	1	0.31mi
4720 Saint Croix Ln #137 Naples, FL	2.0	2.0	1200	$2,200	$1.83	25d	1	0.32mi
15181 Butler Lake Dr #201 Naples, FL	3.0	2.0	2152	$7,500	$3.49	15d	1	0.35mi
15177 Butler Lake Dr #201 Naples, FL	3.0	2.0	2152	$8,500	$3.95	15d	1	0.36mi
4610 Saint Croix Ln #1027 Naples, FL	3.0	2.0	1196	$4,000	$3.34	25d	1	0.36mi
5455 Worthington Ln #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	25d	1	0.38mi
5455 Worthington Ln #202 Naples, FL	2.0	2.0	1427	$3,900	$2.73	25d	1	0.38mi
5645 Whisperwood Blvd #504 Naples, FL	2.0	2.0	1793	$6,000	$3.35	25d	1	0.45mi
5632 Whisperwood Blvd #1601 Naples, FL	3.0	2.0	1856	$8,000	$4.31	25d	1	0.45mi
5935 Northridge Dr Naples, FL	2.0	2.0	1671	$2,995	$1.79	25d	1	0.46mi
5657 Whisperwood Blvd #204 Naples, FL	2.0	2.0	1793	$6,000	$3.35	25d	1	0.46mi
15145 Palmer Lake Cir #103 Naples, FL	3.0	2.0	1571	$7,000	$4.46	25d	1	0.49mi
5630 Sherborn Dr #202 Naples, FL	3.0	2.0	2005	$7,500	$3.74	25d	1	0.50mi
194 Wickliffe Dr Naples, FL	3.0	2.0	1798	$3,500	$1.95	25d	1	0.51mi
300 Diamond Cir #302 Naples, FL	3.0	2.0	1755	$2,600	$1.48	25d	1	0.51mi
15144 Palmer Lake Cir #102 Naples, FL	2.0	2.0	1375	$6,500	$4.73	25d	1	0.52mi
15126 Palmer Lake Cir Naples, FL	2.0–3.0	2.0	1254	$3,000	$2.39	25d	2	0.60mi
5693 Heron Ln #502 Naples, FL	2.0	2.0	1490	$6,800	$4.56	25d	1	0.61mi

HOA detail condo

• Monthly dues: $759 · $9,108/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $330,000 Active 96 DOM
2. 2026-06-18
   days on market $330,000 Active 93 DOM
3. 2026-06-17
   days on market $330,000 Active 92 DOM
4. 2026-06-16
   days on market $330,000 Active 91 DOM
5. 2026-06-15
   days on market $330,000 Active 90 DOM
6. 2026-06-14
   pricedays on market $330,000 Active 88 DOM
7. 2026-06-10
   days on market $350,000 Active 85 DOM
8. 2026-06-09
   days on market $350,000 Active 84 DOM
9. 2026-06-08
   days on market $350,000 Active 83 DOM
10. 2026-06-07
    days on market $350,000 Active 82 DOM
11. 2026-06-03
    days on market $350,000 Active 78 DOM
12. 2026-06-03
    remarks 687-char remark
13. 2026-06-03
    listed $350,000 Active 77 DOM

ⓘ 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: $1,369 · $114/mo
• Projected year-2 tax: $2,739 · $228/mo
• Expected delta: +$1,370/yr (+$114/mo · 100.1%)

ⓘ 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 ≥107°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,456
• − Mortgage interest: −$18,485
• − Property taxes: −$1,369
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,957
• − Management: −$3,957
• − HOA: −$9,108
• − Depreciation: −$9,600
• Taxable income: $1,331
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $5,857/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 — Pelican Marsh

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): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+207.3% since first listed

3 events — show timeline

• 2026-03-17 Listed $350,000 NAPLESMLS
• 2001-10-08 Sold (Public Records) $136,000 Public Records
• 1997-04-01 Sold (Public Records) $113,900 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,369 · +2.7% YoY. Source: county tax records.