5501 Rattlesnake Hamm Rd #108 · Lely, FL 34113

$204,000

2 bd · 2.0 ba · 1,031 sqft · Condo · 1 Days on market

Built 1986 $541/mo HOA · 17% of rent ↓ 2% since listing

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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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• 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

Location, location, location. This first-floor unit close to the community pool is perfect! This condo features 2 bedrooms and 2 bathrooms a private washer and dryer and offers 1,031 sq ft of under-air living space. Nestled in the intimate Marwood community, it provides tranquil pool views and a bright, airy interior with a sliding glass door leading to a spacious screened lanai, perfect for relaxing or entertaining in Naples’ warm climate. The kitchen is well-appointed with ample cabinetry. Both bedrooms are generously sized with full bathrooms, and the primary suite offers direct access to the lanai. Conveniently located just minutes from fine dining, shopping, golf courses, parks,

Key facts

• $541 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed on a conditional basis; maximum pet weight 25 lbs
• HOA & community: Has HOA (quarterly fee); HOA covers insurance, legal/accounting, ground maintenance, reserve fund, road maintenance, trash and water; Community amenities include a pool, playground and management; Non-gated community with street lights; 28 units in the community

Exterior

• Parking: Assigned parking (one space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Publicly maintained road
• Home design: 2-story building; Entry level is 1; Resale property; Faces east
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Patio; Community pool; Oversized lot; West exposure; Has a view

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Walk-in pantry
• Bedrooms: Split bedroom layout
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features; Living/dining room layout; Tub with shower; Walk-in pantry; Window treatments; Split bedrooms; Single-hung windows; Window coverings; Furnished
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $204k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $204k).

Location & tenants

• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D+, health & safety D, amenities 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 fast (+5.6%/yr); 597 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).
• At $3,171/mo this rent would consume 47% of the median local household income ($82k/yr) (locally 954% 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 $1k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $57k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.55% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 5.4

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $6,910
• Equity at exit: $30,417

10-year hold

• IRR: 15.6%
• Equity multiple: 2.48×
• Total profit: $84,418
• Equity at exit: $17,638

Cash invested: $57,120 (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: 5.4×

Monthly cashflow live

• Estimated rent: $3,171 high
• Mortgage (P&I): −$1,070
• Tax est. 1.5%: −$255 /mo · $3,060/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$541
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $488

Break-even live

Break-even rent $2,553

Max offer price $204,000

Occupancy floor 80%

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	13d	2	0.02mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	13d	1	0.10mi
5595 Greenwood Cir #92 Naples, FL	3.0	2.0	1450	$5,000	$3.45	23d	1	0.11mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	23d	1	0.15mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	23d	1	0.15mi
5535 Rattlesnake Hammock Rd #302 Naples, FL	2.0	2.0	1205	$2,800	$2.32	23d	1	0.18mi
5502 Greenwood Cir #1 Naples, FL	3.0	2.0	1450	$2,400	$1.66	23d	1	0.18mi
360 Charlemagne Blvd Unit D105 Naples, FL	2.0	2.0	1082	$3,200	$2.96	23d	1	0.25mi
4410 Chantelle Dr Unit H-205 Naples, FL	2.0	2.0	1349	$3,500	$2.59	13d	1	0.26mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	21d	1	0.28mi
5778 Greenwood Cir Naples, FL	3.0	2.0	1450	$4,000	$2.76	23d	1	0.29mi
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	23d	1	0.31mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	23d	1	0.36mi
232 Pebble Beach Blvd #104 Naples, FL	3.0	2.0	1298	$1,975	$1.52	23d	1	0.37mi
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	23d	1	0.43mi
200 Valley Stream Dr Unit 8B Naples, FL	2.0	2.0	979	$1,750	$1.79	23d	1	0.56mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	23d	1	0.58mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	21d	1	0.58mi
413 Augusta Blvd #302 Naples, FL	2.0	2.0	1390	$5,500	$3.96	21d	1	0.63mi
4977 Pepper Cir #205 Naples, FL	2.0	2.0	1250	$2,250	$1.80	21d	1	0.65mi
520 Augusta Blvd Unit B204 Naples, FL	3.0	2.0	1294	$2,200	$1.70	23d	1	0.66mi
4556 Andover Way Unit E104 Naples, FL	2.0	2.0	1072	$5,000	$4.66	13d	1	0.67mi
4556 Andover Way Unit E106 Naples, FL	2.0	2.0	1172	$1,900	$1.62	13d	1	0.67mi
452 Bristle Cone Ln #27 Naples, FL	2.0	2.0	1129	$2,000	$1.77	23d	1	0.68mi
5708 Deauville Cir Unit 308 Naples, FL	3.0	2.0	1500	$4,500	$3.00	23d	1	0.70mi
555 Augusta Blvd Unit 3-1 Naples, FL	2.0	2.0	1249	$4,200	$3.36	23d	1	0.72mi
905 Augusta Blvd Naples, FL	2.0	2.0	1125	$1,850	$1.64	23d	1	0.74mi
5733 Deauville Cir Unit G308 Naples, FL	3.0	2.0	1427	$3,600	$2.52	23d	1	0.74mi
4911 Catalina Dr Unit 22 Naples, FL	3.0	1.5	1200	$1,950	$1.62	13d	1	0.75mi
575 Augusta Blvd Naples, FL	3.0	2.0	1500	$2,100	$1.40	23d	1	0.75mi
5741 Deauville Cir Unit F108 Naples, FL	3.0	2.0	1427	$3,600	$2.52	23d	1	0.77mi
5792 Deauville Cir Unit A103 Naples, FL	2.0	2.0	1209	$3,900	$3.23	23d	1	0.77mi
4907 Catalina Dr Unit 45 Naples, FL	3.0	2.0	1270	$1,900	$1.50	13d	1	0.78mi
709 Augusta Blvd Unit 709-5 Naples, FL	3.0	2.0	1480	$4,000	$2.70	13d	1	0.78mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	23d	1	0.79mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	13d	1	0.79mi
701 Augusta Blvd Unit 701-8 Naples, FL	2.0	2.0	1250	$4,800	$3.84	13d	1	0.79mi
705 Augusta Blvd Unit 705-5 Naples, FL	2.0	2.0	1125	$2,000	$1.78	13d	1	0.80mi
940 Augusta Blvd Unit D939 Naples, FL	2.0	2.0	1419	$2,200	$1.55	23d	1	0.81mi
265 Deerwood Cir Naples, FL	2.0	2.0	1179	$5,000	$4.24	23d	1	0.81mi

HOA detail condo

• Monthly dues: $541 · $6,492/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-16
   remarks 693-char remark
2. 2026-06-16
   listed $204,000 Pending 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 93% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme
• 💨 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: $38,052
• − Mortgage interest: −$11,427
• − Property taxes: −$3,060
• − Insurance: −$1,817
• − Repairs & maintenance: −$3,044
• − Management: −$3,044
• − HOA: −$6,492
• − Depreciation: −$5,935
• Taxable income: $3,232
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $5,078/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 — Lely

• Score: 66/100
• State rank: #586
• US rank: #11224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lely, FL
• 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

-2.4% since first listed

4 events — show timeline

• 2026-06-16 Pending — FORTMLS
• 2026-06-15 Listed $204,000 FORTMLS
• 2015-05-14 Listed $209,000 FORTMLS
• 2007-03-16 Listing Removed — FORTMLS