523 Club Side Dr Unit 2-523 · Naples Park, FL 34110

$389,000

2 bd · 2.0 ba · 1,121 sqft · Condo public records · 128 Days on market

Built 1988 $977/mo HOA · 21% 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 +17.1/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime North Naples location west of U. S. 41 in the gated community of Wiggins Bay. This beautifully maintained second-floor 2BR/2BA residence is offered turnkey and styled in a relaxing coastal theme, ready for immediate enjoyment. Tile flooring runs throughout, and the split-bedroom floor plan provides privacy for owners and guests. Both bedrooms feature walk-in closets, and two screened lanais create inviting outdoor living spaces that capture coastal breezes. The kitchen features granite countertops, stainless steel appliances with a new dishwasher (2026), a breakfast bar, and a spacious pantry. Freshly painted throughout, including the ceilings, the home also features a new washer and

Key facts

• Gated community
• Walk-in closets
• Granite countertops

Tags

• NORTH NAPLES LOCATION
• GATED COMMUNITY
• WALK-IN CLOSETS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR

Property features AI

Finance

• Other: Development / community: WIGGINS BAY (Harbourside sub-condo); Dock lease or purchase available; electricity and water available at dock
• Financial info: Total annual recurring association fees listed; One-time fees apply
• HOA & community: Mandatory HOA; Quarterly condo fee; Master HOA billed annually; Professional management; HOA maintenance covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, exterior pest control, reserves, security, sewer, street lights, street maintenance, trash removal and water; Community amenities include beach access, bocce, clubhouse, community pool, exercise room, internet access, private membership, restaurant, tennis courts and underground utilities; Community type: boating, gated, tennis

Exterior

• Parking: 1 assigned covered parking (paved); guest parking available; Detached 1-car carport
• Security: Gated community with guard at gate; Entry card access
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise (1-3 stories); Corner/end unit; Rear exposure faces southwest; Zero lot line
• Construction: Built in 1988; Concrete block and wood frame construction; Metal roof; Single-hung windows; Wood siding exterior
• Exterior features: Automatic sprinkler system; Tennis court; Paved road access; Landscaped area and partial building views; Central irrigation

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Range; Self-cleaning oven; Refrigerator/Freezer
• Bedrooms: 2 bedrooms with split bedroom floor plan
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Cable prewire and high-speed internet available; Pantry; Smoke detectors; Walk-in closet; Screened lanai/porch; Turnkey furnished
• Laundry & utility: Washer and dryer in residence; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (7.2% below list).
• Meets the 1% rule at list price ($5k rent vs $389k).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#696 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, employment 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.
• Zoned schools: Naples Park Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 395 students, 48% FRL); North Naples Middle School (math 79% / reading 73%, grade A, #34 of 571 statewide, top 6%, 903 students, 25% 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 31% FRL vs 55% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.1%/yr); 593 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $4,665/mo this rent would consume 57% 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.

Forward outlook

• 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.
• 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 128 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 21% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $342,320 (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 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
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: 1.20% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 6.9

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: -24.0%
• Equity multiple: 0.21×
• Total profit: $-86,020
• Equity at exit: $58,001

10-year hold

• IRR: -40.2%
• Equity multiple: -0.26×
• Total profit: $-137,566
• Equity at exit: $33,634

Cash invested: $108,920 (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 34110

• Rents YoY: -1.1%
• Active inventory: 593
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $4,665 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$238 /mo · $2,860/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$977
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $-158

Break-even live

Break-even rent $4,866

Max offer price $361,003

Occupancy floor 98%

Sensitivity live

Price	-10% $62	-5% $-48	+0% $-158	+5% $-269	+10% $-379
Rent	-10% $-527	-5% $-343	+0% $-158	+5% $26	+10% $210
Rate	-1.0pp $37	-0.5pp $-60	base $-158	+0.5pp $-259	+1.0pp $-362

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	25d	1	0.03mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	15d	4	0.16mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	25d	1	0.20mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	25d	1	0.20mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	25d	1	0.23mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	25d	1	0.23mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	25d	1	0.26mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	25d	1	0.27mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	25d	1	0.33mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	25d	1	0.35mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	15d	1	0.35mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	23d	1	0.36mi
1282 Belaire Ct Naples, FL	3.0	3.5	1495	$9,500	$6.35	25d	1	0.46mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	25d	2	0.47mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	15d	1	0.47mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	23d	1	0.47mi
12945 Vanderbilt Dr Naples, FL	2.0	2.0	1301	$5,250	$4.04	25d	2	0.49mi
1337 Center Ln Naples, FL	3.0	2.0	1500	$4,300	$2.87	25d	1	0.51mi
830 Wiggins Pass Rd #10 Naples, FL	1.0	1.0	800	$1,350	$1.69	25d	1	0.51mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	15d	1	0.70mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	15d	1	0.75mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	25d	1	0.78mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	25d	1	0.85mi
900 Arbor Lake Dr Unit 301 Naples, FL	1.0	1.0	866	$3,500	$4.04	25d	1	0.86mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	25d	2	0.93mi
1120 Sarah Jean Cir Unit B205 Naples, FL	3.0	2.0	1370	$2,300	$1.68	15d	1	0.95mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	25d	1	0.97mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	25d	1	0.99mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	25d	1	0.99mi
1150 Yesica Ann Cir Unit A205 Naples, FL	2.0	2.0	1300	$6,000	$4.62	15d	1	1.02mi
953 Bunker Hill Dr Naples, FL	2.0	2.0	1100	$3,200	$2.91	15d	1	1.03mi
1190 Yesica Ann Cir Unit B101 Naples, FL	2.0	2.0	1245	$2,500	$2.01	15d	1	1.07mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	25d	1	1.08mi
519 Roma Ct Naples, FL	3.0	2.0	1260	$4,450	$3.53	15d	6	1.10mi
509 Roma Ct Naples, FL	3.0	2.0	1322	$3,850	$2.91	25d	3	1.10mi
1290 Yesica Ann Cir Unit G203 Naples, FL	2.0	2.0	1245	$6,000	$4.82	15d	1	1.12mi
1290 Yesica Ann Cir Unit G-105 Naples, FL	2.0	2.0	1168	$5,500	$4.71	15d	1	1.12mi
1130 Turtle Creek Blvd Naples, FL	1.0–2.0	1.0–2.0	800	$2,145	$2.68	15d	22	1.15mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	25d	3	1.19mi
15191 Cedarwood Ln #2602 Naples, FL	2.0	2.0	1267	$2,300	$1.82	25d	1	1.23mi

HOA detail condo

• Monthly dues: $977 · $11,724/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $389,000 Active 128 DOM
2. 2026-06-18
   days on market $389,000 Active 125 DOM
3. 2026-06-17
   days on market $389,000 Active 124 DOM
4. 2026-06-16
   days on market $389,000 Active 123 DOM
5. 2026-06-15
   days on market $389,000 Active 122 DOM
6. 2026-06-14
   days on market $389,000 Active 120 DOM
7. 2026-06-10
   days on market $389,000 Active 117 DOM
8. 2026-06-09
   days on market $389,000 Active 116 DOM
9. 2026-06-08
   days on market $389,000 Active 115 DOM
10. 2026-06-07
    days on market $389,000 Active 114 DOM
11. 2026-06-03
    days on market $389,000 Active 110 DOM
12. 2026-06-02
    days on market $389,000 Active 109 DOM
13. 2026-06-01
    days on market $389,000 Active 108 DOM
14. 2026-05-31
    days on market $389,000 Active 107 DOM
15. 2026-05-30
    days on market $389,000 Active 106 DOM
16. 2026-04-24
    price $389,000
17. 2026-02-13
    listed $397,900 Active
18. 2026-01-31
    historical
19. 2025-10-12
    listed $399,900 Active
20. 2025-05-09
    historical
21. 2025-01-02
    price $448,000
22. 2024-11-19
    listed $460,000 Active
23. 2024-09-05
    historical
24. 2024-06-13
    listed $465,000 Active
25. 2023-04-28
    soldstatus $455,000
26. 2010-10-29
    soldstatus $175,000
27. 2010-10-25
    soldstatus $175,000
28. 2009-01-14
    listed $185,000
29. 2000-08-28
    soldstatus $80,700
30. 1986-04-01
    soldstatus $137,000

ⓘ 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: $2,860 · $238/mo
• Projected year-2 tax: $3,229 · $269/mo
• Expected delta: +$369/yr (+$31/mo · 12.9%)

ⓘ 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 · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,981
• − Mortgage interest: −$21,790
• − Property taxes: −$2,860
• − Insurance: −$7,064
• − Repairs & maintenance: −$4,478
• − Management: −$4,478
• − HOA: −$11,724
• − Depreciation: −$11,316
• Taxable loss: −$7,730
• Est. tax savings @ 24.0%: +$1,855
• After-tax cash flow: $-47/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 Park

• Score: 64/100
• State rank: #696
• US rank: #14564

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment B+ Housing A- Health & safety D 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): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+183.9% since first listed

15 events — show timeline

• 2026-04-24 Price Changed $389,000 NAPLESMLS
• 2026-02-13 Listed $397,900 NAPLESMLS
• 2026-01-31 Listing Removed — NAPLESMLS
• 2025-10-12 Listed $399,900 NAPLESMLS
• 2025-05-09 Listing Removed — NAPLESMLS
• 2025-01-02 Price Changed $448,000 NAPLESMLS
• 2024-11-19 Listed $460,000 NAPLESMLS
• 2024-09-05 Listing Removed — NAPLESMLS
• 2024-06-13 Listed $465,000 NAPLESMLS
• 2023-04-28 Sold (Public Records) $455,000 Public Records
• 2010-10-29 Sold (Public Records) $175,000 Public Records
• 2010-10-25 Sold (MLS) $175,000 NAPLESMLS
• 2009-01-14 Listed $185,000 NAPLESMLS
• 2000-08-28 Sold (Public Records) $80,700 Public Records
• 1986-04-01 Sold (Public Records) $137,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,860 · -16.3% YoY. Source: county tax records.