900 8th Ave S #102 · Naples, FL 34102

$475,000

2 bd · 2.0 ba · 1,092 sqft · Condo public records · 123 Days on market

Built 1971 $895/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 +16.6/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +5.7/10.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to the Neapolitan Club in the heart of Olde Naples, just three blocks to 5th Avenue South and minutes to the beach! This light-filled two-bedroom, two-bath corner residence has been recently remodeled and is offered turnkey furnished, making it truly move-in ready. The interior features new kitchen cabinetry, appliances, updated bathrooms, and clean coastal finishes throughout. The private corner lanai offers landscaped views, the perfect setting to relax and enjoy Naples’ sunshine and breezes. The Neapolitan Club offers a rare combination of flexibility and location, allowing monthly rentals and welcoming two pets, a rare pairing in this downtown price range. Whether you&rsq

Key facts

• Recently remodeled
• Private corner lanai
• Landscaped views

Tags

• RECENTLY REMODELED
• NEW KITCHEN CABINETRY
• UPDATED BATHROOMS
• PRIVATE CORNER LANAI
• LANDSCAPED VIEWS
• ASSIGNED PARKING

Property features AI

Finance

• Other: Complex has 21 units; single unit per floor; building has 1 floor; Restrictions: No commercial use, no motorcycles, no RVs
• HOA & community: Quarterly condo fee; Condo fee charged quarterly (total annual recurring fees $10,736); Professional management; Maintenance covers insurance, laundry facilities, lawn/land maintenance, exterior pest control, reserves, sewer, trash removal, and water; Community amenities include bike storage, common laundry, community pool, extra storage, sidewalks, and streetlights; Non-gated community

Exterior

• Parking: 1 assigned parking space
• Security: Impact resistant windows
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise end-unit (1–3 stories); Built in 1971; Rear exposure faces east; Located in Olde Naples / Neapolitan Club community
• Construction: Concrete block construction; Stucco exterior finish; Metal roof; Built in 1971; End-unit
• Exterior features: Patio; Landscaped area view; Zero lot line

Interior

• Kitchen: Dishwasher; Range; Refrigerator/Freezer
• Bedrooms: 2 bedrooms; Master bedroom on ground level; First-floor bedroom; Split bedroom layout
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Smoke detectors; Dining area (family or living); Guest bath; Guest room; Screened lanai/porch; Common elevator; Turnkey furnished
• Laundry & utility: Common laundry facilities (in complex)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $475k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $451k (5.1% below list).
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $418k (12.0% 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.
• Zoned schools: Lake Park Elementary School (math 76% / reading 77%, grade A, #185 of 2,144 statewide, top 9%, 502 students, 39% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 614 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 $5,105/mo this rent would consume 47% of the median local household income ($131k/yr) (locally 333% 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 $23k of equity ($3k loan paydown + $19k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($418k) 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 $325k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $418,000 (12.0% 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 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.07% ✓
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.08% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.78×
• Total profit: $103,906
• Equity at exit: $243,154

10-year hold

• IRR: 16.6%
• Equity multiple: 4.01×
• Total profit: $400,506
• Equity at exit: $399,561

Cash invested: $133,000 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 614
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $5,105 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$160 /mo · $1,915/yr
• Insurance: −$198
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$895
• Vacancy / Maint / Mgmt: −$1,072
• Net cashflow: $-137

Break-even live

Break-even rent $5,278

Max offer price $450,824

Occupancy floor 98%

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 8th Ave S #105 Naples, FL	2.0	2.0	1142	$5,000	$4.38	23d	1	0.03mi
802 10th Ave S #802 Naples, FL	2.0	2.0	1480	$10,000	$6.76	23d	1	0.15mi
1100 8th Ave S Naples, FL	2.0	2.0	1218	$9,000	$7.39	14d	5	0.16mi
722 10th Ave S Unit A201 Naples, FL	2.0	2.0	1166	$10,000	$8.58	23d	1	0.20mi
1100 9th St S Unit E101 Naples, FL	2.0	2.0	1450	$3,000	$2.07	23d	1	0.23mi
651 10th Ave S Unit C651 Naples, FL	2.0	2.0	1241	$12,000	$9.67	23d	1	0.24mi
780 5th Ave S #302 Naples, FL	2.0	2.5	1449	$15,000	$10.35	14d	1	0.28mi
1155 6th St S Naples, FL	3.0	2.0	1384	$16,000	$11.56	23d	1	0.35mi
805 River Point Dr Unit 307C Naples, FL	1.0	1.0	816	$2,700	$3.31	23d	1	0.36mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	23d	1	0.37mi
801 River Point Dr Unit 303A Naples, FL	1.0	1.0	815	$5,000	$6.13	21d	1	0.38mi
636 Broad Ave S Unit 1259386P Naples, FL	2.0	2.0	882	$4,307	$4.88	14d	1	0.38mi
1030 3rd Ave S Naples, FL	2.0–3.0	2.0–3.5	2101	$5,750	$2.74	23d	4	0.39mi
609 12th Ave S #609 Naples, FL	2.0	2.0	860	$8,000	$9.30	23d	1	0.41mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	23d	1	0.43mi
546 Broad Ave S #546 Naples, FL	2.0	2.0	890	$4,800	$5.39	23d	1	0.44mi
1035 3rd Ave S Naples, FL	2.0	2.0	1268	$8,388	$6.61	21d	2	0.45mi
1035 3rd Ave S Naples, FL	2.0	2.0	1268	$8,538	$6.73	23d	2	0.45mi
450 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.5	1324	$8,750	$6.61	23d	6	0.46mi
1353 Pelican Ave Naples, FL	2.0	2.0	1203	$8,500	$7.07	23d	1	0.47mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	23d	1	0.47mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.47mi
1120 Little Neck Ct Unit E40 Naples, FL	3.0	2.0	1400	$2,999	$2.14	23d	1	0.48mi
451 Bayfront Pl Naples, FL	1.0–2.0	1.5–2.0	1421	$11,000	$7.74	23d	2	0.48mi
351 8th Ave S #351 Naples, FL	2.0	2.0	930	$4,000	$4.30	23d	1	0.49mi
410 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.0	1242	$7,875	$6.34	23d	6	0.49mi
1135 3rd Ave S Naples, FL	2.0	2.0–2.5	1638	$15,750	$9.62	23d	2	0.49mi
1135 3rd Ave S Naples, FL	2.0	2.0–2.5	1679	$11,500	$6.85	21d	3	0.49mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$7,200	$10.29	23d	2	0.51mi
401 Bayfront Pl Naples, FL	2.0	2.0	1367	$9,000	$6.58	23d	3	0.51mi
404 Broad Ave S Unit H404 Naples, FL	2.0	2.0	890	$9,995	$11.23	23d	1	0.51mi
1501 Curlew Ave Naples, FL	2.0	1.0	1180	$2,000	$1.69	23d	1	0.53mi
421 12th Ave S Unit A1 Naples, FL	2.0	1.0	760	$6,400	$8.42	14d	1	0.53mi
1051 3rd St S #301 Naples, FL	2.0	2.0	1256	$7,000	$5.57	23d	1	0.54mi
307 Goodlette-Frank Rd S Unit B506 Naples, FL	2.0	2.0	1166	$6,800	$5.83	23d	1	0.56mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$3,995	$4.59	23d	2	0.56mi
301 6th Ave S Unit D Naples, FL	2.0	2.0	1300	$3,950	$3.04	23d	1	0.56mi
365 5th Ave S #303 Naples, FL	2.0	2.0	1090	$13,000	$11.93	23d	1	0.56mi
250 7th Ave S #301 Naples, FL	2.0	2.0	1000	$10,000	$10.00	23d	1	0.57mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	23d	4	0.57mi

HOA detail condo

• Monthly dues: $895 · $10,740/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $475,000 Active 123 DOM
2. 2026-06-17
   days on market $475,000 Active 122 DOM
3. 2026-06-16
   days on market $475,000 Active 121 DOM
4. 2026-06-15
   days on market $475,000 Active 120 DOM
5. 2026-06-14
   days on market $475,000 Active 118 DOM
6. 2026-06-10
   days on market $475,000 Active 115 DOM
7. 2026-06-09
   days on market $475,000 Active 114 DOM
8. 2026-06-08
   days on market $475,000 Active 113 DOM
9. 2026-06-07
   days on market $475,000 Active 112 DOM
10. 2026-06-03
    days on market $475,000 Active 108 DOM
11. 2026-06-02
    days on market $475,000 Active 107 DOM
12. 2026-06-01
    days on market $475,000 Active 106 DOM
13. 2026-05-31
    days on market $475,000 Active 105 DOM
14. 2026-05-30
    days on market $475,000 Active 104 DOM
15. 2026-05-22
    status Pending With Contingencies
16. 2026-03-22
    price $489,999
17. 2026-02-12
    listed $495,000 Active
18. 2025-08-21
    historical
19. 2025-05-28
    listed $495,000 Active
20. 2008-11-25
    soldstatus $325,000
21. 2003-07-02
    soldstatus $240,000

ⓘ 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: $1,915 · $160/mo
• Projected year-2 tax: $3,942 · $329/mo
• Expected delta: +$2,027/yr (+$169/mo · 105.9%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $61,263
• − Mortgage interest: −$26,607
• − Property taxes: −$1,915
• − Insurance: −$7,494
• − Repairs & maintenance: −$4,901
• − Management: −$4,901
• − HOA: −$10,740
• − Depreciation: −$13,818
• Taxable loss: −$9,113
• Est. tax savings @ 24.0%: +$2,187
• After-tax cash flow: $545/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): 11,179
• Household income: $130,929
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 333.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 1%
• Hispanic origin (detail): Cuban 6%
• Common ancestry: Hispanic 4% Lithuanian 4% Romanian 4%
• Foreign-born: 17% · Canada, China
• Languages at home: 87% English-only · Spanish 7% French/Haitian/Cajun 4% 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: ▲ 4.08%
• Current HPI: 328.2755
• Rent YoY: ▲ 8.75%
• 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

+104.2% since first listed

7 events — show timeline

• 2026-05-22 Pending — NAPLESMLS
• 2026-03-22 Price Changed $489,999 NAPLESMLS
• 2026-02-12 Listed $495,000 NAPLESMLS
• 2025-08-21 Listing Removed — NAPLESMLS
• 2025-05-28 Listed $495,000 NAPLESMLS
• 2008-11-25 Sold (Public Records) $325,000 Public Records
• 2003-07-02 Sold (Public Records) $240,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $1,915 · +3.3% YoY. Source: county tax records.