2690 Cypress Trace Cir #3214 · Island Walk, FL 34119

$224,900

2 bd · 2.0 ba · 1,194 sqft · Condo public records · 96 Days on market

Built 2005 $1321/mo HOA · 36% 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 +16.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2 bed/2 bath first-floor condo is ready for your personal touches! With expansive views of the 17th fairway, you can sit back and relax all that Naples living has to offer from your large screened-in lanai. This property comes deeded with full membership to Cypress Woods Golf and Country Club including full golf privileges, pickleball, bocce and tennis. The facilities include an 18-hole championship golf course and practice facility, 8 newly constructed pickleball courts, new tennis court, new bocce pavilion and courts. The fitness center offerings include group classes, peloton equipment, and a full weight room with circuit equipment. Enjoy all that the resort facilities have to offer

Key facts

• New tennis court
• New bocce pavilion
• Resort style pool

Tags

• LARGE SCREENED-IN LANAI
• NEW TENNIS COURT
• NEW BOCCE PAVILION
• FITNESS CENTER OFFERINGS
• INDOOR AND OUTDOOR DINING
• RESORT STYLE POOL

Property features AI

Finance

• Financial info: Total annual recurring fees and one-time fees apply
• HOA & community: Mandatory HOA; Master HOA fee charged annually; Condo fee charged quarterly; Professional management; HOA maintenance covers cable, golf course, insurance, lawn/land maintenance, exterior pest control, recreation facilities, reserves, security, sewer, street maintenance, trash removal and water; Community amenities include clubhouse, community pool, spa/hot tub, exercise room, golf course, tennis and pickleball courts, bocce, putting green, restaurant, library, community room, bike/jog paths, underground utilities, private membership and streetlights; Community is gated and golf-course oriented (golf-bundled)

Exterior

• Parking: 1 assigned parking space; Guest parking available; Detached 1-car carport
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise building (1–3 stories); Built in 2005; Concrete block construction; Rear exposure faces northwest; Located in a golf-course community (Cypress Woods Golf and Country Club) on a private road; Golf course and lake views
• Construction: Concrete block construction; Tile roof; Stucco exterior
• Exterior features: Automatic sprinkler system; Exterior storage; Water feature on site; Double-hung windows; Stucco exterior finish; Tile roof; Gated community

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Self-cleaning oven
• Bedrooms: 2 bedrooms with a split-bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and a shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Cable prewire; Fire sprinkler system; High-speed internet available; Smoke detectors; Dining area can function as living/dining and eat-in kitchen; Guest bath and guest room; Screened lanai/porch; Common elevator; Two ceiling fans
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#692 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B+; Watch: health & safety 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.
• Market conditions: Rents soft (-2.5%/yr); 586 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).
• This rent runs 38% of the median local income ($113k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 ($205k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago 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 $142k; list at $225k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% 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 $204,659 (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. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 5.2

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: -17.4%
• Equity multiple: 0.41×
• Total profit: $-36,956
• Equity at exit: $33,533

10-year hold

• IRR: -24.8%
• Equity multiple: 0.08×
• Total profit: $-58,090
• Equity at exit: $19,445

Cash invested: $62,972 (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 34119

• Rents YoY: -2.5%
• Active inventory: 586
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,626 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$124 /mo · $1,488/yr
• Insurance: −$94
• HOA: −$1,321
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $147

Break-even live

Break-even rent $3,441

Max offer price $224,900

Occupancy floor 91%

Sensitivity live

Price	-10% $274	-5% $210	+0% $147	+5% $83	+10% $19
Rent	-10% $-140	-5% $3	+0% $147	+5% $290	+10% $433
Rate	-1.0pp $260	-0.5pp $204	base $147	+0.5pp $88	+1.0pp $29

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2690 Cypress Trace Cir #3212 Naples, FL	2.0	2.0	1232	$5,300	$4.30	24d	1	0.03mi
2925 Cypress Trace Cir #201 Naples, FL	2.0	2.0	1094	$4,500	$4.11	24d	1	0.07mi
2700 Cypress Trace Cir #3112 Naples, FL	2.0	2.0	1232	$2,100	$1.70	24d	1	0.10mi
2880 Cypress Trace Cir #103 Naples, FL	2.0	2.0	1372	$5,500	$4.01	24d	1	0.12mi
2870 Cypress Trace Cir #1713 Naples, FL	2.0	2.0	1414	$2,900	$2.05	24d	1	0.14mi
6670 Huntington Lakes Cir #103 Naples, FL	2.0	2.0	1107	$4,000	$3.61	14d	1	0.14mi
6670 Huntington Lakes Cir #103 Naples, FL	2.0	2.0	1107	$4,250	$3.84	24d	1	0.14mi
2895 Cypress Trace Cir #202 Naples, FL	2.0	2.0	1232	$4,500	$3.65	24d	1	0.15mi
2895 Cypress Trace Cir #104 Naples, FL	2.0	2.0	1252	$4,800	$3.83	24d	1	0.15mi
2710 Cypress Trace Cir Naples, FL	2.0	2.0	1213	$3,425	$2.82	24d	2	0.15mi
6605 Huntington Lakes Cir #203 Naples, FL	2.0	2.0	1107	$2,400	$2.17	24d	1	0.19mi
2720 Cypress Trace Cir Naples, FL	2.0–3.0	2.0	1283	$2,100	$1.64	24d	3	0.19mi
2855 Cypress Trace Cir #202 Naples, FL	2.0	2.0	1232	$4,800	$3.90	14d	1	0.20mi
2855 Cypress Trace Cir #102 Naples, FL	2.0	2.0	1232	$2,000	$1.62	14d	1	0.20mi
6750 Huntington Lakes Cir #103 Naples, FL	2.0	2.0	1185	$2,300	$1.94	21d	1	0.21mi
2820 Cypress Trace Cir Naples, FL	2.0	2.0	1254	$3,748	$2.99	24d	3	0.23mi
6920 Huntington Lakes Cir #103 Naples, FL	2.0	2.0	1107	$2,700	$2.44	24d	1	0.23mi
2835 Cypress Trace Cir Unit 1049710P Naples, FL	3.0	2.0	1248	$4,110	$3.29	14d	1	0.24mi
6880 Huntington Lakes Cir #203 Naples, FL	2.0	2.0	1231	$3,750	$3.05	24d	1	0.27mi
2730 Cypress Trace Cir Unit 1 Naples, FL	2.0	2.0	1232	$5,500	$4.46	24d	1	0.30mi
2730 Cypress Trace Cir Unit 2836A Naples, FL	2.0	2.0	1194	$2,000	$1.68	24d	1	0.30mi
2730 Cypress Trace Cir Unit 2836S Naples, FL	2.0	2.0	1194	$5,000	$4.19	24d	1	0.30mi
2740 Cypress Trace Cir Naples, FL	2.0	2.0	1493	$3,488	$2.34	24d	3	0.32mi
2790 Cypress Trace Cir Naples, FL	2.0	2.0	1537	$5,000	$3.25	24d	2	0.34mi
2469 Millcreek Ln #102 Naples, FL	2.0	2.0	1107	$3,495	$3.16	24d	1	0.41mi
6655 Huntington Lakes Cir #204 Naples, FL	3.0	2.0	1315	$3,500	$2.66	24d	1	0.42mi
5693 Heron Ln #502 Naples, FL	2.0	2.0	1490	$6,800	$4.56	24d	1	0.45mi
2456 Millcreek Ln #102 Naples, FL	2.0	2.0	1107	$2,375	$2.15	24d	1	0.46mi
2408 Millcreek Ln #202 Naples, FL	2.0	2.0	1207	$2,200	$1.82	24d	1	0.47mi
6544 Huntington Lakes Cir Unit 9-204 Naples, FL	3.0	2.0	1382	$4,250	$3.08	24d	1	0.48mi
5455 Worthington Ln #202 Naples, FL	2.0	2.0	1427	$3,900	$2.73	24d	1	0.92mi
5455 Worthington Ln #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	24d	1	0.92mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.0	1202	$1,590	$1.32	14d	1	0.94mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.5	1202	$3,510	$2.92	24d	1	0.94mi
5045 Cedar Springs Dr #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	24d	1	0.95mi
5045 Cedar Springs Dr #203 Naples, FL	2.0	2.0	1427	$4,200	$2.94	24d	1	0.95mi
4910 Deerfield Way Unit A-203 Naples, FL	2.0	2.0	1388	$5,500	$3.96	14d	1	0.98mi
4910 Deerfield Way #103 Naples, FL	2.0	2.0	1200	$4,800	$4.00	21d	1	0.98mi
4970 Deerfield Way Unit F-203 Naples, FL	2.0	2.0	1388	$1,990	$1.43	14d	1	0.98mi
4960 Deerfield Way Unit E102 Naples, FL	2.0	2.0	1202	$4,250	$3.54	14d	1	1.00mi

HOA detail condo

• Monthly dues: $1,321 · $15,852/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-02
   days on market $224,900 Active 96 DOM
2. 2026-06-01
   days on market $224,900 Active 95 DOM
3. 2026-05-31
   days on market $224,900 Active 94 DOM
4. 2026-05-30
   days on market $224,900 Active 93 DOM
5. 2026-03-18
   price $224,900
6. 2026-02-26
   listed $229,900 Active
7. 2026-02-09
   historical
8. 2026-01-22
   price $239,900
9. 2025-12-03
   price $249,900
10. 2025-10-22
    price $259,900
11. 2025-10-08
    price $269,900
12. 2025-07-24
    listed $274,900 Active
13. 2025-07-21
    price $274,900
14. 2025-05-31
    historical
15. 2025-03-25
    price $279,900
16. 2025-02-25
    listed $289,900 Active
17. 2018-04-16
    soldstatus $142,500
18. 2018-04-06
    soldstatus $142,500 Sold
19. 2018-03-16
    status Pending With Contingencies
20. 2018-03-14
    listed $149,900 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: $1,488 · $124/mo
• Projected year-2 tax: $1,867 · $156/mo
• Expected delta: +$379/yr (+$32/mo · 25.5%)

ⓘ 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 1/10 Low
• 🌡 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: $43,516
• − Mortgage interest: −$12,598
• − Property taxes: −$1,488
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,481
• − Management: −$3,481
• − HOA: −$15,852
• − Depreciation: −$6,543
• Taxable loss: −$1,051
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $2,013/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 — Island Walk

• Score: 64/100
• State rank: #692
• US rank: #14444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 36,807
• Household income: $113,391
• Rent vs Own: 16.4% rent · 83.6% own
• Severe rent burden: 741.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 17% · Canada, Jamaica, Dominican Republic
• Languages at home: 78% English-only · Spanish 15% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -243.12%
• Current HPI: 269.3208
• Rent YoY: ▼ -2.51%
• 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

+50.0% since first listed

16 events — show timeline

• 2026-03-18 Price Changed $224,900 NAPLESMLS
• 2026-02-26 Listed $229,900 NAPLESMLS
• 2026-02-09 Listing Removed — NAPLESMLS
• 2026-01-22 Price Changed $239,900 NAPLESMLS
• 2025-12-03 Price Changed $249,900 NAPLESMLS
• 2025-10-22 Price Changed $259,900 NAPLESMLS
• 2025-10-08 Price Changed $269,900 NAPLESMLS
• 2025-07-24 Listed $274,900 NAPLESMLS
• 2025-07-21 Price Changed $274,900 NAPLESMLS
• 2025-05-31 Listing Removed — NAPLESMLS
• 2025-03-25 Price Changed $279,900 NAPLESMLS
• 2025-02-25 Listed $289,900 NAPLESMLS
• 2018-04-16 Sold (Public Records) $142,500 Public Records
• 2018-04-06 Sold (MLS) $142,500 NAPLESMLS
• 2018-03-16 Pending — NAPLESMLS
• 2018-03-14 Listed $149,900 NAPLESMLS

Property tax history

+3.0%/yr

Latest (2025): $1,488 · +2.6% YoY. Source: county tax records.