285 Cays Dr #2306 · Goodland, FL 34114

$425,000

3 bd · 3.0 ba · 1,827 sqft · Condo public records · 69 Days on market

Built 2003 $593/mo HOA · 14% 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 +13.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Appreciation +4.3/10.0
• DSCR +4.0/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

It's all about the view! This spacious 3 bedroom plus den condominium in the desirable Stella Maris community at Port of the Islands offers breathtaking wide water views and an unmatched Southwest Florida lifestyle. From the moment you step inside, you'll appreciate the serene waterfront setting where manatees glide through the water and nature surrounds you, creating a peaceful retreat away from the hustle and bustle. This turnkey furnished residence has been thoughtfully updated and is move-in ready, featuring new carpet throughout, a freshly painted interior, new window treatments. The kitchen is equipped with new appliances installed in 2025. The generous floor plan includes a versatile den perfect for a home office or additional guest space, while the spacious living areas are designed to maximize the stunning water views. Boating enthusiasts will love the direct Gulf access and the convenience of a boat slip, with the seawall and dockage recently redone. The Port of the Islands community is a hidden gem offering boating, fishing, a marina, biking and jogging paths, and exceptional wildlife viewing, along with an on-site hotel and waterfront restaurant. Ideally located just 15 minutes from dining and shopping and within easy reach of Marco Island and Olde Naples, this home offers the perfect balance of tranquil waterfront living and convenient access to Southwest Florida's best beaches, restaurants, and entertainment. Whether you're seeking a full-time residence, seasonal getaway, or boating retreat, this waterfront condo delivers spectacular views and the ultimate Florida lifestyle.

Key facts

• Direct gulf access
• Boat slip
• Wide water views

Tags

• WIDE WATER VIEWS
• WATERFRONT SETTING
• DIRECT GULF ACCESS
• BOAT SLIP
• RECENTLY REDONE SEAWALL
• PORT OF THE ISLANDS COMMUNITY

Property features AI

Finance

• Other: Two units per floor, 8 units in building, 84 units in complex; Boat access features: boat ramp, deeded dock, electricity and water available at dock; Gulf access with no bridges and canal width over 200'
• HOA & community: Mandatory HOA; Quarterly condo fee ($1,779); Total annual recurring HOA fees $7,116; Professional management; HOA maintenance covers internet/Wi‑Fi, irrigation water, lawn/land maintenance, legal/accounting; Community amenities include bike and jog path, community boat dock and ramp, community gulf boat access, marina, restaurant, streetlights, and underground utilities; Community type: Boating

Exterior

• Parking: Attached 1-car garage
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential carriage/coach unit; Low-rise building (1–3 stories); Built in 2003; Rear exposure faces southwest; Located in Port of the Islands development (Stella Maris sub-condo)
• Construction: Concrete block construction
• Exterior features: Screened balcony; Stucco exterior; Tile roof; Single-hung windows; Manual storm shutters; Zero lot line; Bay and landscaped views; Canal waterfront with navigable access; Reclaimed irrigation

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator/Icemaker; Breakfast bar; Eat-in kitchen; Dining (living) area
• Bedrooms: 3 bedrooms plus a den
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms; Master bath with separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Vaulted ceiling; Split-bedroom floor plan; Turnkey furnished
• Laundry & utility: Washer; Dryer; Laundry in residence; Smoke detector

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $-431 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $349k (17.9% below list).
• Meets the 1% rule at list price ($4k rent vs $425k).
• Recommended offer: $349k (17.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 47/100 on livability (#893 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; 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 rising (+3.2%/yr); 900 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $4,379/mo this rent would consume 59% of the median local household income ($89k/yr) (locally 550% 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 (-1.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $6k 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 69 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $205k; list at $425k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $348,933 (17.9% 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 69 days. Have you received any prior offers? Is the seller open to a 18% 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. 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?
9. 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.
10. 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.
11. 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: 1.03% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.48% appreciation · 3.21% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.44×
• Total profit: $-66,985
• Equity at exit: $92,868

10-year hold

• IRR: -6.1%
• Equity multiple: 0.48×
• Total profit: $-61,774
• Equity at exit: $89,458

Cash invested: $119,000 (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 34114

• Home prices YoY: -0.6%
• Rents YoY: 3.2%
• Active inventory: 900
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $4,379 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$464 /mo · $5,571/yr
• Insurance: −$177
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$593
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $-431

Break-even live

Break-even rent $4,924

Max offer price $348,933

Occupancy floor —

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
146 Windward Cay Naples, FL	3.0	2.0	2244	$7,000	$3.12	23d	1	0.46mi

HOA detail condo

• Monthly dues: $593 · $7,116/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $425,000 Active 69 DOM
2. 2026-06-17
   days on market $425,000 Active 68 DOM
3. 2026-06-16
   days on market $425,000 Active 67 DOM
4. 2026-06-15
   days on market $425,000 Active 66 DOM
5. 2026-06-14
   days on market $425,000 Active 64 DOM
6. 2026-06-10
   days on market $425,000 Active 61 DOM
7. 2026-06-09
   days on market $425,000 Active 60 DOM
8. 2026-06-08
   days on market $425,000 Active 59 DOM
9. 2026-06-07
   days on market $425,000 Active 58 DOM
10. 2026-06-03
    days on market $425,000 Active 54 DOM
11. 2026-06-02
    days on market $425,000 Active 53 DOM
12. 2026-06-01
    days on market $425,000 Active 52 DOM
13. 2026-05-31
    days on market $425,000 Active 51 DOM
14. 2026-05-30
    days on market $425,000 Active 50 DOM
15. 2026-04-10
    listed $425,000 Active 1616-char remark

    Show marketing remark (1616 chars)

    It's all about the view! This spacious 3 bedroom plus den condominium in the desirable Stella Maris community at Port of the Islands offers breathtaking wide water views and an unmatched Southwest Florida lifestyle. From the moment you step inside, you'll appreciate the serene waterfront setting where manatees glide through the water and nature surrounds you, creating a peaceful retreat away from the hustle and bustle. This turnkey furnished residence has been thoughtfully updated and is move-in ready, featuring new carpet throughout, a freshly painted interior, new window treatments. The kitchen is equipped with new appliances installed in 2025. The generous floor plan includes a versatile den perfect for a home office or additional guest space, while the spacious living areas are designed to maximize the stunning water views. Boating enthusiasts will love the direct Gulf access and the convenience of a boat slip, with the seawall and dockage recently redone. The Port of the Islands community is a hidden gem offering boating, fishing, a marina, biking and jogging paths, and exceptional wildlife viewing, along with an on-site hotel and waterfront restaurant. Ideally located just 15 minutes from dining and shopping and within easy reach of Marco Island and Olde Naples, this home offers the perfect balance of tranquil waterfront living and convenient access to Southwest Florida's best beaches, restaurants, and entertainment. Whether you're seeking a full-time residence, seasonal getaway, or boating retreat, this waterfront condo delivers spectacular views and the ultimate Florida lifestyle.

16. 2026-04-10
    listed $425,000 Active

    Show marketing remark (1616 chars)

    It's all about the view! This spacious 3 bedroom plus den condominium in the desirable Stella Maris community at Port of the Islands offers breathtaking wide water views and an unmatched Southwest Florida lifestyle. From the moment you step inside, you'll appreciate the serene waterfront setting where manatees glide through the water and nature surrounds you, creating a peaceful retreat away from the hustle and bustle. This turnkey furnished residence has been thoughtfully updated and is move-in ready, featuring new carpet throughout, a freshly painted interior, new window treatments. The kitchen is equipped with new appliances installed in 2025. The generous floor plan includes a versatile den perfect for a home office or additional guest space, while the spacious living areas are designed to maximize the stunning water views. Boating enthusiasts will love the direct Gulf access and the convenience of a boat slip, with the seawall and dockage recently redone. The Port of the Islands community is a hidden gem offering boating, fishing, a marina, biking and jogging paths, and exceptional wildlife viewing, along with an on-site hotel and waterfront restaurant. Ideally located just 15 minutes from dining and shopping and within easy reach of Marco Island and Olde Naples, this home offers the perfect balance of tranquil waterfront living and convenient access to Southwest Florida's best beaches, restaurants, and entertainment. Whether you're seeking a full-time residence, seasonal getaway, or boating retreat, this waterfront condo delivers spectacular views and the ultimate Florida lifestyle.

17. 2015-05-19
    price $205,000 611-char remark

    Show marketing remark (611 chars)

    It's all about the VIEW! This lovely very spacious 3 bedroom plus den condo has beautiful wide Water Views. THIS CONDO LIVES LIKE A HOME! The Port of the Islands community has it all boating, fishing, marina, boat dockage, biking, jogging, walking, with a hotel and restaurant. Only 15 minutes from dining, shopping. Close to Marco and OLDE NAPLES. Upgraded kitchen with white cabinets and gorgeous granite counter tops. Enjoy your screened balcony with electric hurricane shutters, while watching manatees, birds and the serene peacefulness of nature. Move right in and start enjoying the 10 thousand islands.

18. 2015-05-19
    soldstatus $205,000

    Show marketing remark (611 chars)

    It's all about the VIEW! This lovely very spacious 3 bedroom plus den condo has beautiful wide Water Views. THIS CONDO LIVES LIKE A HOME! The Port of the Islands community has it all boating, fishing, marina, boat dockage, biking, jogging, walking, with a hotel and restaurant. Only 15 minutes from dining, shopping. Close to Marco and OLDE NAPLES. Upgraded kitchen with white cabinets and gorgeous granite counter tops. Enjoy your screened balcony with electric hurricane shutters, while watching manatees, birds and the serene peacefulness of nature. Move right in and start enjoying the 10 thousand islands.

19. 2015-05-18
    soldstatus $205,000 Sold 611-char remark

    Show marketing remark (611 chars)

    It's all about the VIEW! This lovely very spacious 3 bedroom plus den condo has beautiful wide Water Views. THIS CONDO LIVES LIKE A HOME! The Port of the Islands community has it all boating, fishing, marina, boat dockage, biking, jogging, walking, with a hotel and restaurant. Only 15 minutes from dining, shopping. Close to Marco and OLDE NAPLES. Upgraded kitchen with white cabinets and gorgeous granite counter tops. Enjoy your screened balcony with electric hurricane shutters, while watching manatees, birds and the serene peacefulness of nature. Move right in and start enjoying the 10 thousand islands.

20. 2015-04-21
    price $215,000 611-char remark

    Show marketing remark (611 chars)

    It's all about the VIEW! This lovely very spacious 3 bedroom plus den condo has beautiful wide Water Views. THIS CONDO LIVES LIKE A HOME! The Port of the Islands community has it all boating, fishing, marina, boat dockage, biking, jogging, walking, with a hotel and restaurant. Only 15 minutes from dining, shopping. Close to Marco and OLDE NAPLES. Upgraded kitchen with white cabinets and gorgeous granite counter tops. Enjoy your screened balcony with electric hurricane shutters, while watching manatees, birds and the serene peacefulness of nature. Move right in and start enjoying the 10 thousand islands.

21. 2015-04-21
    historical 611-char remark

    Show marketing remark (611 chars)

    It's all about the VIEW! This lovely very spacious 3 bedroom plus den condo has beautiful wide Water Views. THIS CONDO LIVES LIKE A HOME! The Port of the Islands community has it all boating, fishing, marina, boat dockage, biking, jogging, walking, with a hotel and restaurant. Only 15 minutes from dining, shopping. Close to Marco and OLDE NAPLES. Upgraded kitchen with white cabinets and gorgeous granite counter tops. Enjoy your screened balcony with electric hurricane shutters, while watching manatees, birds and the serene peacefulness of nature. Move right in and start enjoying the 10 thousand islands.

22. 2015-04-15
    listed $215,000 Active 611-char remark

    Show marketing remark (611 chars)

    It's all about the VIEW! This lovely very spacious 3 bedroom plus den condo has beautiful wide Water Views. THIS CONDO LIVES LIKE A HOME! The Port of the Islands community has it all boating, fishing, marina, boat dockage, biking, jogging, walking, with a hotel and restaurant. Only 15 minutes from dining, shopping. Close to Marco and OLDE NAPLES. Upgraded kitchen with white cabinets and gorgeous granite counter tops. Enjoy your screened balcony with electric hurricane shutters, while watching manatees, birds and the serene peacefulness of nature. Move right in and start enjoying the 10 thousand islands.

23. 2014-09-05
    listed $194,900

ⓘ 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: $5,571 · $464/mo
• Projected year-2 tax: $5,571 · $464/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,543
• − Mortgage interest: −$23,807
• − Property taxes: −$5,571
• − Insurance: −$7,244
• − Repairs & maintenance: −$4,203
• − Management: −$4,203
• − HOA: −$7,116
• − Depreciation: −$12,364
• Taxable loss: −$11,965
• Est. tax savings @ 24.0%: +$2,872
• After-tax cash flow: $-2,295/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 — Goodland

• Score: 47/100
• State rank: #893
• US rank: #26197

Category grades

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

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): 23,559
• Household income: $89,334
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 550.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 13% Black 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 5% Romanian 4% Lithuanian 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 15% French/Haitian/Cajun 5% Other Indo-European 4%

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: ▼ -1.48%
• Current HPI: 266.5545
• Rent YoY: ▲ 3.21%
• 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

+118.1% since first listed

9 events — show timeline

• 2026-04-10 Listed $425,000 NAPLESMLS
• 2026-04-10 Listed $425,000 MIML
• 2015-05-19 Price Changed $205,000 NAPLESMLS
• 2015-05-19 Sold (Public Records) $205,000 Public Records
• 2015-05-18 Sold (MLS) $205,000 NAPLESMLS
• 2015-04-21 Listing Removed — NAPLESMLS
• 2015-04-21 Price Changed $215,000 NAPLESMLS
• 2015-04-15 Listed $215,000 NAPLESMLS
• 2014-09-05 Listed $194,900 MIML

Property tax history

+8.6%/yr

Latest (2025): $5,571 · -15.4% YoY. Source: county tax records.