7025 Dennis #202 · Berkshire Lakes, FL 34104

$230,000

2 bd · 2.0 ba · 1,097 sqft · Condo public records · 114 Days on market

Built 1991 $669/mo HOA · 25% of rent

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Why this score? — see what drove the D 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 +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• DSCR +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Perfectly positioned within Chatham Square at Glen Eagle, this inviting residence offers a highly sought-after bundled golf membership along with tranquil lake and golf course views. Enjoy tranquil views from your private screened lanai overlooking the lush fairways and sparkling lake, creating a peaceful backdrop for everyday living and relaxed outdoor enjoyment. With a desirable second-floor vantage point and a dedicated carport space, this two-bedroom, two-bath condominium presents an exceptional opportunity to embrace the Naples golf lifestyle. The thoughtfully designed floor plan features a bright and open living and dining area with direct lanai access, allowing the beautiful lake and

Key facts

• Tranquil lake views
• Golf course views
• $669 HOA

Tags

• BUNDLED GOLF MEMBERSHIP
• TRANQUIL LAKE VIEWS
• GOLF COURSE VIEWS
• PRIVATE SCREENED LANAI
• DEDICATED CARPORT SPACE
• BRIGHT OPEN LIVING AREA

Property features AI

Finance

• Financial info: Unit is part of a multi-unit complex (128 units total; 24 units in building); Two units per floor; single-story building
• HOA & community: Mandatory HOA; Professional management; Master HOA fee paid annually; Condo fee paid quarterly; Maintenance covers cable, insurance, irrigation water, lawn/land maintenance, legal/accounting, exterior pest control, recreation facilities, repairs, reserves, security, sewer, street lights, street maintenance, trash removal and water; Amenities include bike and jog path, billiards, business center, cabana, clubhouse, community pool, community spa/hot tub, library, putting green, sidewalk, streetlight, tennis court, underground utilities; One-time mandatory club fee required; Total annual recurring fees and total one-time fees apply

Exterior

• Parking: 1 assigned covered parking; Detached 1-car carport; Paved driveway; Guest parking
• Security: Community security (included in maintenance)
• Utilities: Central water; Central sewer; Electric power (central)
• Home design: Residential garden apartment in a low-rise (1-3) building; Concrete block construction with stucco finish; Built in 1991; Zero lot line; Unit 202; Rear exposure northeast; Golf-bundled gated community (Glen Eagle / Chatham Square)
• Construction: Concrete block construction; Stucco exterior; Built-up or flat roof; Garden-style building
• Exterior features: Pond; Lake waterfront; Golf course view; Landscaped area view; Water view; Central irrigation; Paved road

Interior

• Kitchen: Electric cooktop; Range; Self-cleaning oven; Dishwasher; Microwave; Refrigerator/Icemaker; Disposal
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans; Cable available
• Interior features: Cable prewire; Pantry; Smoke detectors; Walk-in closet; Window coverings; Dining in living area; Eat-in kitchen; Guest bath; Guest room; Screened lanai/porch; Common elevator; Four ceiling fans; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-74 ($-884/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (5.7% below list).
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $209k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — 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: Calusa Park Elementary School (math 59% / reading 56%, grade C+, #764 of 2,144 statewide, top 36%, 707 students, 62% FRL); East Naples Middle School (math 56% / reading 44%, grade C, #254 of 571 statewide, top 45%, 854 students, 63% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents soft (-1.1%/yr); 438 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 44% of the median local income ($72k/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 114 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $230k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,300 (9.0% 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 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 7.3

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: -23.1%
• Equity multiple: 0.23×
• Total profit: $-49,295
• Equity at exit: $34,294

10-year hold

• IRR: -35.0%
• Equity multiple: -0.20×
• Total profit: $-77,231
• Equity at exit: $19,886

Cash invested: $64,400 (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 34104

• Rents YoY: -1.1%
• Active inventory: 438
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,635 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$184 /mo · $2,209/yr
• Insurance: −$96
• HOA: −$669
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-74

Break-even live

Break-even rent $2,728

Max offer price $216,989

Occupancy floor 98%

Sensitivity live

Price	-10% $57	-5% $-9	+0% $-74	+5% $-139	+10% $-204
Rent	-10% $-282	-5% $-178	+0% $-74	+5% $30	+10% $134
Rate	-1.0pp $42	-0.5pp $-15	base $-74	+0.5pp $-133	+1.0pp $-194

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7065 Dennis Cir #302 Naples, FL	2.0	2.0	1097	$4,000	$3.65	23d	1	0.05mi
1051 Eastham Way Unit B104 Naples, FL	2.0	2.0	1091	$4,300	$3.94	15d	1	0.07mi
1100 Eastham Way Unit A-105 Naples, FL	2.0	2.0	1184	$4,500	$3.80	15d	1	0.10mi
6700 Dennis Cir Unit A103 Naples, FL	2.0	2.0	1308	$2,000	$1.53	15d	1	0.19mi
6816 Sterling Greens Pl #105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	23d	1	0.31mi
6816 Sterling Greens Dr Unit 1105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	15d	1	0.31mi
6825 Sterling Greens Dr #102 Naples, FL	3.0	2.0	1499	$4,500	$3.00	25d	1	0.35mi
6828 Sterling Greens Dr Unit 4105 Naples, FL	2.0	2.0	1242	$3,750	$3.02	15d	1	0.36mi
6954 Avalon Cir #703 Naples, FL	2.0	2.0	1467	$3,000	$2.04	15d	1	0.45mi
6954 Avalon Cir #702 Naples, FL	2.0	2.0	1467	$4,500	$3.07	25d	1	0.45mi
5301 Whitten Dr #81 Naples, FL	3.0	2.0	1386	$2,700	$1.95	25d	1	0.51mi
5257 Whitten Dr Naples, FL	2.0	2.0	1500	$2,500	$1.67	15d	1	0.52mi
1700 Windy Pines Dr #1 Naples, FL	2.0	2.0	1349	$2,300	$1.70	23d	1	0.54mi
1810 Florida Club Cir Naples, FL	2.0	2.0	1200	$2,075	$1.73	15d	2	0.55mi
1840 Florida Club Cir #5309 Naples, FL	2.0	1.0	1328	$2,300	$1.73	25d	1	0.57mi
7380 Saint Ives Way Naples, FL	2.0	2.0	1026	$4,400	$4.29	25d	2	0.59mi
1820 Florida Club Cir Naples, FL	3.0	2.0	1282	$2,850	$2.22	25d	2	0.60mi
1748 Royal Cir Naples, FL	3.0	2.0	1451	$3,200	$2.21	25d	1	0.61mi
1830 Florida Club Cir #4111 Naples, FL	3.0	2.0	1189	$2,250	$1.89	23d	1	0.62mi
1615 Windy Pines Dr #10 Naples, FL	2.0	2.0	1349	$1,900	$1.41	15d	1	0.62mi
1865 Florida Club Dr #6211 Naples, FL	3.0	2.0	1500	$2,000	$1.33	15d	1	0.62mi
7360 Saint Ives Way #2205 Naples, FL	2.0	2.0	1053	$1,925	$1.83	25d	1	0.63mi
1865 Florida Club Dr Naples, FL	2.0–3.0	1.0–2.0	1214	$1,750	$1.44	25d	2	0.64mi
1835 Florida Club Cir #3201 Naples, FL	3.0	2.0	1375	$2,095	$1.52	15d	1	0.66mi
1645 Windy Pines Dr #6 Naples, FL	2.0	2.0	1349	$2,500	$1.85	23d	1	0.68mi
1670 Windy Pines Dr Naples, FL	2.0	2.0	1351	$4,500	$3.33	25d	1	0.69mi
1875 Florida Club Dr Naples, FL	2.0	1.0	1016	$1,722	$1.69	25d	2	0.71mi
1787 Reuven Cir Unit 1001 Naples, FL	2.0	2.0	1112	$1,300	$1.17	15d	1	0.75mi
4710 Altis Dr Naples, FL	1.0–3.0	1.0–2.0	1101	$2,430	$2.21	15d	39	0.76mi
4640 Santa Barbara Blvd Naples, FL	2.0–3.0	2.0	1164	$1,932	$1.66	25d	2	0.77mi
7320 Glenmoor Ln Unit 2206 Naples, FL	2.0	2.0	1053	$6,000	$5.70	15d	1	0.79mi
190 Santa Clara Dr Unit 190-4 Naples, FL	2.0	2.0	1004	$1,800	$1.79	25d	1	0.80mi
194 Santa Clara Dr Unit 194-3 Naples, FL	1.0	1.0	833	$1,600	$1.92	25d	1	0.82mi
2400 Bayou Ln Unit 7506 Naples, FL	2.0	2.0	1351	$5,000	$3.70	15d	1	0.85mi
2462 Hidden Lake Dr #8 Naples, FL	2.0	2.0	1271	$5,900	$4.64	23d	1	0.87mi
2202 Hidden Lake Dr #4 Naples, FL	2.0	2.0	1237	$2,000	$1.62	15d	1	0.89mi
2265 Hidden Lake Dr #3 Naples, FL	2.0	2.0	1349	$2,100	$1.56	23d	1	0.89mi
161 Santa Clara Dr #14 Naples, FL	2.0	2.0	1043	$2,000	$1.92	23d	1	0.90mi
2448 Hidden Lake Dr #6 Naples, FL	2.0	2.0	1237	$1,750	$1.41	23d	1	0.90mi
150 Santa Clara Dr #15 Naples, FL	1.0	1.0	700	$1,590	$2.27	25d	1	0.91mi

HOA detail condo

• Monthly dues: $669 · $8,028/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $230,000 Active 114 DOM
2. 2026-06-18
   days on market $230,000 Active 111 DOM
3. 2026-06-17
   days on market $230,000 Active 110 DOM
4. 2026-06-16
   days on market $230,000 Active 109 DOM
5. 2026-06-15
   days on market $230,000 Active 108 DOM
6. 2026-06-14
   days on market $230,000 Active 106 DOM
7. 2026-06-10
   days on market $230,000 Active 103 DOM
8. 2026-06-09
   days on market $230,000 Active 102 DOM
9. 2026-06-08
   days on market $230,000 Active 101 DOM
10. 2026-06-07
    pricedays on marketlisting id $230,000 Active 100 DOM
11. 2026-06-02
    days on market $240,000 Active 95 DOM
12. 2026-06-01
    days on market $240,000 Active 94 DOM
13. 2026-05-31
    days on market $240,000 Active 93 DOM
14. 2026-05-30
    days on market $240,000 Active 92 DOM
15. 2026-04-09
    price $240,000
16. 2026-02-27
    listed $245,000 Active
17. 1996-03-11
    soldstatus $90,000

ⓘ 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: $2,209 · $184/mo
• Projected year-2 tax: $2,209 · $184/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 💨 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: $31,616
• − Mortgage interest: −$12,884
• − Property taxes: −$2,209
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,529
• − Management: −$2,529
• − HOA: −$8,028
• − Depreciation: −$6,691
• Taxable loss: −$4,404
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $173/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 — Berkshire Lakes

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): 26,408
• Household income: $71,686
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1423.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 3% Hispanic 2%
• Foreign-born: 30% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · Spanish 24% French/Haitian/Cajun 5% 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: ▼ -252.48%
• Current HPI: 259.3498
• Rent YoY: ▼ -1.10%
• 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

+166.7% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $240,000 NAPLESMLS
• 2026-02-27 Listed $245,000 NAPLESMLS
• 1996-03-11 Sold (Public Records) $90,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $2,209 · +3.6% YoY. Source: county tax records.