3 bd · 2.0 ba ·
1,613 sqft ·
Built 2001
· Condo
· Active
· 92 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$5,287/mo
Mortgage (P&I)
−$2,045
Tax + insurance
−$716
HOA
−$863
Vac / Maint / Mgmt
−$1,110
Net cashflow
$553/mo
Annual
$6,636/yr
Cap rate
8.20%
Cash-on-cash
6.81%
DSCR
1.30
1% rule
1.36%
Cash to close
$109,172
Investor read
This is a 3-bed/2.0-bath condo listed at $390k.
At list price, monthly cash flow is $553 ($7k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($5k rent vs $390k).
It's been on market 92 days — a 9% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $355k (9.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
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: Naples Park Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 395 students, 48% 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 34% FRL vs 55% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
Watch-outs: flood insurance adds $66/mo.
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 24d 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).
Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
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.
Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
At $5,287/mo this rent would consume 65% 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.
Questions for listing agent
It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
CashFlowRE · CFR-CW9EBXBPH3KRX3
· Data 3 weeks agocashflowre.app · 2026-05-29