5322 Treetops Dr Unit I · Naples Manor, FL 34113

$150,000

1 bd · 1.0 ba · 576 sqft · Condo public records · 98 Days on market

Built 1980 $642/mo HOA · 23% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price to Sell-1 bed/ 1 bath condo, great location, easy access to Downtown Naples and the Naples Beaches. Great investment property or perfect for a seasonal getaway.

Key facts

• Updated condo
• $642 HOA
• Garage

Tags

• UPDATED CONDO
• LOW MAINTENANCE LIVING
• QUICK ACCESS TO DINING
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO BEACHES

Property features AI

Finance

• HOA & community: Mandatory HOA with professional management; Quarterly condo fee of $1,926 (total annual recurring fees $7,704); One-time fees $150; Community pool; HOA covers lawn/land maintenance, legal/accounting, exterior pest control, reserves, sewer, trash removal and water

Exterior

• Parking: 1 assigned parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden apartment in a low-rise (1-3) building; Rear exposure facing east; Treetops of Naples community; Entry level: Ground (single-story unit)
• Construction: Wood frame construction; Wood siding exterior; Shingle roof; Built in 1980; Garden apartment building
• Exterior features: Double-hung windows; Zero lot line; Paved road access; Central irrigation; View: See remarks

Interior

• Kitchen: Dishwasher; Range; Refrigerator/Icemaker; Disposal
• Bedrooms: 1 bedroom — Master bedroom on ground level
• Flooring: Vinyl
• Bathrooms: 1 full bathroom; Master bath with shower only
• Heating & cooling: Heat pump; Central electric cooling
• Interior features: Built-in cabinets; Cable prewire; Screened lanai/porch; Efficiency floor plan; Furnished
• Laundry & utility: Washer/dryer hookup; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#615 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F, employment D-.
• 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: Manatee Elementary School (math 58% / reading 51%, grade C, #892 of 2,144 statewide, top 44%, 584 students, 73% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL).
• Market conditions: Rents rising fast (+5.6%/yr); 597 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 40% of the median local income ($82k/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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 23% of rent.
• 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.82% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.59%
• DSCR: 1.74
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.84×
• Total profit: $-6,530
• Equity at exit: $22,365

10-year hold

• IRR: 10.4%
• Equity multiple: 1.98×
• Total profit: $41,210
• Equity at exit: $12,969

Cash invested: $42,000 (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 34113

• Rents YoY: 5.6%
• Active inventory: 597
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,736 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$642
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $154

Break-even live

Break-even rent $2,541

Max offer price $150,000

Occupancy floor 89%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5222 Treetops Dr Naples, FL	1.0	1.0	600	$1,800	$3.00	23d	1	0.03mi
5314 Gilchrist St Naples, FL	2.0	1.0	636	$2,000	$3.14	13d	1	0.43mi

HOA detail condo

• Monthly dues: $642 · $7,704/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $150,000 Active 98 DOM
2. 2026-06-17
   days on market $150,000 Active 97 DOM
3. 2026-06-16
   days on market $150,000 Active 96 DOM
4. 2026-06-15
   days on market $150,000 Active 95 DOM
5. 2026-06-14
   days on market $150,000 Active 93 DOM
6. 2026-06-10
   days on market $150,000 Active 90 DOM
7. 2026-06-09
   days on market $150,000 Active 89 DOM
8. 2026-06-08
   days on market $150,000 Active 88 DOM
9. 2026-06-07
   days on market $150,000 Active 87 DOM
10. 2026-06-03
    days on market $150,000 Active 83 DOM
11. 2026-06-02
    days on market $150,000 Active 82 DOM
12. 2026-06-01
    days on market $150,000 Active 81 DOM
13. 2026-05-31
    days on market $150,000 Active 80 DOM
14. 2026-05-30
    days on market $150,000 Active 79 DOM
15. 2026-03-12
    listed $150,000 Active
16. 2026-02-11
    historical
17. 2025-03-14
    listed $155,000 Active
18. 2022-06-22
    soldstatus $150,000
19. 2022-06-16
    soldstatus $150,000 Sold 166-char remark

    Show marketing remark (166 chars)

    Price to Sell-1 bed/ 1 bath condo, great location, easy access to Downtown Naples and the Naples Beaches. Great investment property or perfect for a seasonal getaway.

20. 2022-05-11
    status Pending With Contingencies 166-char remark

    Show marketing remark (166 chars)

    Price to Sell-1 bed/ 1 bath condo, great location, easy access to Downtown Naples and the Naples Beaches. Great investment property or perfect for a seasonal getaway.

21. 2022-05-03
    listed $159,000 Active 166-char remark

    Show marketing remark (166 chars)

    Price to Sell-1 bed/ 1 bath condo, great location, easy access to Downtown Naples and the Naples Beaches. Great investment property or perfect for a seasonal getaway.

22. 2020-09-29
    soldstatus $210,000
23. 2019-12-31
    historical
24. 2019-09-19
    price $84,999
25. 2019-08-05
    status Active
26. 2019-05-23
    historical
27. 2019-05-03
    listed $80,000 Active
28. 2019-05-03
    historical
29. 2019-04-18
    price $80,000
30. 2019-04-17
    listed $8,000 Active
31. 2017-12-26
    soldstatus $40,000
32. 2017-03-21
    soldstatus $27,500
33. 2017-03-15
    price $27,500
34. 2017-03-15
    historical
35. 2017-03-15
    soldstatus $27,500 Sold
36. 2017-03-14
    price $34,900
37. 2017-02-21
    status Pending
38. 2017-02-10
    price $34,900
39. 2017-01-24
    listed $39,900 Active
40. 1995-01-04
    soldstatus $19,000

ⓘ 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: $1,077 · $90/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$168/yr (+$14/mo · 15.6%)

ⓘ 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 · 29 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: $32,835
• − Mortgage interest: −$8,402
• − Property taxes: −$1,077
• − Insurance: −$5,868
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − HOA: −$7,704
• − Depreciation: −$4,364
• Taxable income: $166
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $1,811/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 Manor

• Score: 66/100
• State rank: #615
• US rank: #11875

Category grades

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

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): 26,056
• Household income: $81,674
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 954.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 10% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Vietnam
• Languages at home: 63% English-only · Spanish 24% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -194.86%
• Current HPI: 279.4232
• Rent YoY: ▲ 5.59%
• 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

+689.5% since first listed

26 events — show timeline

• 2026-03-12 Listed $150,000 NAPLESMLS
• 2026-02-11 Listing Removed — NAPLESMLS
• 2025-03-14 Listed $155,000 NAPLESMLS
• 2022-06-22 Sold (Public Records) $150,000 Public Records
• 2022-06-16 Sold (MLS) $150,000 NAPLESMLS
• 2022-05-11 Pending — NAPLESMLS
• 2022-05-03 Listed $159,000 NAPLESMLS
• 2020-09-29 Sold (Public Records) $210,000 Public Records
• 2019-12-31 Listing Removed — NAPLESMLS
• 2019-09-19 Price Changed $84,999 NAPLESMLS
• 2019-08-05 Relisted — NAPLESMLS
• 2019-05-23 Listing Removed — NAPLESMLS
• 2019-05-03 Listing Removed — NAPLESMLS
• 2019-05-03 Listed $80,000 NAPLESMLS
• 2019-04-18 Price Changed $80,000 NAPLESMLS
• 2019-04-17 Listed $8,000 NAPLESMLS
• 2017-12-26 Sold (Public Records) $40,000 Public Records
• 2017-03-21 Sold (Public Records) $27,500 Public Records
• 2017-03-15 Price Changed $27,500 NAPLESMLS
• 2017-03-15 Listing Removed — NAPLESMLS
• 2017-03-15 Sold (MLS) $27,500 NAPLESMLS
• 2017-03-14 Price Changed $34,900 NAPLESMLS
• 2017-02-21 Pending — NAPLESMLS
• 2017-02-10 Price Changed $34,900 NAPLESMLS
• 2017-01-24 Listed $39,900 NAPLESMLS
• 1995-01-04 Sold (Public Records) $19,000 Public Records

Property tax history

+14.1%/yr

Latest (2025): $1,077 · +4.3% YoY. Source: county tax records.