2571 Citrus Lake Dr Unit 201B · Pelican Marsh, FL 34109

$400,000

3 bd · 2.0 ba · 1,590 sqft · Condo · 142 Days on market

Built 1989 Good condition $787/mo HOA · 17% of rent ↓ 6% 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 +14.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0

Listing remarks

Enjoy some of the most incredible lake views and an unbeatable Naples lifestyle in this beautifully located Lakeside condo. Wake up to shimmering water views that fill the living spaces with natural light and create a peaceful, private retreat. A one car attached garage adds everyday convenience and extra storage—an exceptional feature for condo living in Naples. Lakeside is a well established, amenity rich community offering resort style pools, a clubhouse, tennis and pickleball courts, and scenic walking paths winding throughout the neighborhood. Residents enjoy a relaxed, active lifestyle surrounded by mature landscaping and picturesque lakes. Perfectly positioned in the heart of N

Key facts

• Resort style pools
• Clubhouse
• Lake views

Tags

• LAKE VIEWS
• ATTACHED GARAGE
• AMENITY RICH COMMUNITY
• RESORT STYLE POOLS
• CLUBHOUSE
• TENNIS COURTS

Property features AI

Finance

• Other: Part of Lakeside Carriage Homes subdivision; Has freshwater lake/pond view (waterfront); Unit number 201B; Two units per floor; 8 units in building; 396 units in complex; 2 floors in building; Deeded restrictions
• HOA & community: Mandatory HOA (professional management); Quarterly condo fee; Quarterly condo fee billed (amount reported); Maintenance covers cable, insurance, internet/Wi-Fi, irrigation water, lawn/land maintenance, legal/accounting, manager, master association fee, recreation facilities, reserve, street lights and maintenance, and water; Community amenities include clubhouse, community pool, community spa/hot tub, exercise room, billiards, bocce court, tennis courts, fishing pier, community room, internet access, sidewalks and streetlights; Total annual recurring fees reported; One-time fees reported

Exterior

• Parking: Attached 1-car garage
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise (1–3) carriage/coach style; 2-story building; Rear exposure faces northeast; Zero lot line
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Built in 1989
• Exterior features: Automatic sprinkler system; Double-hung windows; Manual shutters

Interior

• Kitchen: Electric cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Refrigerator/Freezer
• Bedrooms: 3 bedrooms (split bedroom floor plan)
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bathroom with dual sinks
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: High speed internet available; Dining area (family); Screened lanai/porch
• Laundry & utility: Washer; Dryer; Laundry in residence; Auto garage door

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $400k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $352k (12.0% 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.
• Market conditions: Rents flat; 424 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $4,601/mo this rent would consume 60% of the median local household income ($92k/yr) (locally 1712% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($3k loan paydown + $1k appreciation (0.3% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.

Recommended offer $352,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.15% ✓
• Cap rate: 6.54%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.91×
• Total profit: $-9,676
• Equity at exit: $122,081

10-year hold

• IRR: 1.9%
• Equity multiple: 1.20×
• Total profit: $22,410
• Equity at exit: $151,569

Cash invested: $112,000 (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 34109

• Home prices YoY: 0.1%
• Rents YoY: 0.9%
• Active inventory: 424
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $4,601 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$787
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $84

Break-even live

Break-even rent $4,495

Max offer price $400,000

Occupancy floor 93%

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2611 Citrus Lake Dr Unit C-203 Naples, FL	3.0	2.0	1710	$5,500	$3.22	14d	1	0.02mi
2651 Citrus Lake Dr Unit D302 Naples, FL	2.0	2.0	1250	$5,000	$4.00	14d	1	0.04mi
2671 Citrus Lake Dr Unit E-303 Naples, FL	2.0	2.0	1380	$3,500	$2.54	14d	1	0.08mi
2671 Citrus Lake Dr Unit E-201 Naples, FL	3.0	2.0	1380	$5,250	$3.80	14d	1	0.08mi
2541 Citrus Lake Dr Unit A-205 Naples, FL	3.0	2.0	1590	$5,250	$3.30	14d	1	0.09mi
2711 Citrus Lake Dr Unit F302 Naples, FL	2.0	2.0	1272	$4,500	$3.54	14d	1	0.12mi
2711 Citrus Lake Dr Unit F305 Naples, FL	3.0	2.0	1480	$5,500	$3.72	14d	1	0.12mi
2731 Citrus Lake Dr #202 Naples, FL	2.0	2.0	1260	$2,500	$1.98	14d	1	0.15mi
2608 Sailors Way #122 Naples, FL	2.0	2.0	1387	$5,500	$3.97	23d	1	0.25mi
7710 Ahoy Ave Naples, FL	3.0	2.0	1580	$2,950	$1.87	23d	1	0.27mi
2730 Sailors Way Naples, FL	3.0	3.0	1700	$9,000	$5.29	23d	1	0.30mi
7030 Lone Oak Blvd Naples, FL	3.0	2.0	1700	$6,400	$3.76	14d	1	0.31mi
2860 Citrus Lake Dr Unit R202 Naples, FL	3.0	2.0	1590	$5,000	$3.14	23d	1	0.31mi
2860 Citrus Lake Dr Unit R-202 Naples, FL	3.0	2.0	1590	$5,000	$3.14	14d	1	0.31mi
7416 Plumbago Bridge Rd #103 Naples, FL	2.0	2.0	1223	$2,400	$1.96	14d	1	0.33mi
2835 Mizzen Way Naples, FL	3.0	2.0	1641	$2,900	$1.77	23d	1	0.34mi
2880 Citrus Lake Dr Unit Q201 Naples, FL	3.0	2.0	1590	$2,495	$1.57	14d	1	0.35mi
2885 Citrus Lake Dr Unit N103 Naples, FL	2.0	2.0	1249	$5,250	$4.20	14d	1	0.35mi
2864 Mizzen Way Unit Y106 Naples, FL	2.0	2.0	1350	$5,200	$3.85	14d	1	0.35mi
2476 Orchid Bay Dr Unit W201 Naples, FL	3.0	2.0	1928	$2,600	$1.35	14d	1	0.38mi
3048 Horizon Ln #1104 Naples, FL	3.0	2.5	1818	$5,150	$2.83	23d	1	0.38mi
7287 Mill Pond Cir Naples, FL	3.0	2.0	1355	$3,800	$2.80	23d	1	0.39mi
2460 Old Groves Rd Unit E102 Naples, FL	2.0	2.0	1226	$2,400	$1.96	14d	1	0.41mi
7271 Mill Pond Cir Naples, FL	3.0	2.0	1700	$8,250	$4.85	23d	1	0.41mi
3035 Horizon Ln #2206 Naples, FL	2.0	2.0	1246	$6,000	$4.82	23d	1	0.41mi
3051 Horizon Ln #1803 Naples, FL	2.0	2.0	1482	$5,100	$3.44	23d	1	0.42mi
2516 Orchid Bay Dr #203 Naples, FL	2.0	2.0	1360	$4,750	$3.49	23d	1	0.46mi
7546 Mill Pond Cir Naples, FL	3.0	2.0	1373	$6,500	$4.73	23d	1	0.48mi
3015 Horizon Ln #2702 Naples, FL	3.0	2.0	1399	$1,790	$1.28	23d	1	0.52mi
7518 Silver Trumpet Ln Unit Q102 Naples, FL	2.0	2.0	1300	$2,600	$2.00	14d	1	0.53mi
2277 Arbour Walk Cir Naples, FL	1.0–2.0	1.0–2.0	937	$2,540	$2.71	14d	25	0.59mi
3009 Driftwood Way #2802 Naples, FL	3.0	2.0	1399	$2,000	$1.43	23d	1	0.60mi
7778 Emerald Cir #104 Naples, FL	3.0	2.0	1199	$2,300	$1.92	21d	1	0.61mi
7778 Emerald Cir #204 Naples, FL	3.0	2.0	1199	$6,750	$5.63	14d	1	0.61mi
2585 Old Groves Rd Unit L203 Naples, FL	2.0	2.0	1448	$5,500	$3.80	14d	1	0.61mi
3062 Driftwood Way #4301 Naples, FL	3.0	2.0	1573	$6,500	$4.13	23d	1	0.62mi
6654 Tannin Ln Unit B Naples, FL	2.0	2.0	1441	$3,100	$2.15	23d	1	0.63mi
3057 Driftwood Way #4004 Naples, FL	3.0	2.5	1818	$6,400	$3.52	23d	1	0.65mi
3017 Driftwood Way #3001 Naples, FL	3.0	2.0	1385	$5,000	$3.61	23d	1	0.65mi
3296 Twilight Ln #6202 Naples, FL	3.0	2.5	2133	$6,500	$3.05	14d	1	0.66mi

HOA detail condo

• Monthly dues: $787 · $9,444/yr
• Likely covers: waterlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $400,000 Active 142 DOM
2. 2026-06-17
   days on market $400,000 Active 141 DOM
3. 2026-06-16
   days on market $400,000 Active 140 DOM
4. 2026-06-15
   days on market $400,000 Active 139 DOM
5. 2026-06-14
   days on market $400,000 Active 137 DOM
6. 2026-06-10
   days on market $400,000 Active 134 DOM
7. 2026-06-09
   days on market $400,000 Active 133 DOM
8. 2026-06-08
   days on market $400,000 Active 132 DOM
9. 2026-06-07
   days on market $400,000 Active 131 DOM
10. 2026-06-03
    days on market $400,000 Active 127 DOM
11. 2026-06-03
    remarks 693-char remark
12. 2026-06-03
    listed $400,000 Active 126 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $55,215
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,417
• − Management: −$4,417
• − HOA: −$9,444
• − Depreciation: −$11,636
• Taxable loss: −$5,106
• Est. tax savings @ 24.0%: +$1,225
• After-tax cash flow: $2,230/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 80/100 Cosmetic rehab

This well-maintained, move-in-ready townhouse in Pelican Marsh offers stunning lake views and a peaceful retreat. The interior is in excellent condition with modern appliances and a fresh paint job, while the exterior features well-maintained landscaping and a clean, inviting appearance.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics, making the property more attractive to buyers and renters.
• Both Updating the flooring — Replacing worn-out flooring with new, high-quality materials can significantly increase the property's value and appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics, making the property more attractive to buyers and renters. ↑
• Both Updating the flooring — Replacing worn-out flooring with new, high-quality materials can significantly increase the property's value and appeal. ↑

ⓘ 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 — 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): 27,273
• Household income: $92,259
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1712.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 9% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 5% Russian/Polish/Slavic 3%

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: ▲ 0.29%
• Current HPI: 279.357
• Rent YoY: ▲ 0.92%
• 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

-5.9% since first listed

3 events — show timeline

• 2026-04-14 Price Changed $400,000 NAPLESMLS
• 2026-03-02 Price Changed $410,000 NAPLESMLS
• 2026-01-27 Listed $425,000 NAPLESMLS