526 Lake Louise Cir #402 · Bonita Springs, FL 34110

$479,000

3 bd · 2.0 ba · 1,871 sqft · Condo public records · 24 Days on market

Built 1996 $763/mo HOA · 14% of rent

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Why this score? — see what drove the C- 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 +18.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +5.6/10.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently RENOVATED top-floor coach home with its OWN PRIVATE ELEVATOR! This turnkey furnished hidden gem in North Naples is minutes from the white sands of Vanderbilt, Barefoot, and Bonita beaches, with fine dining & shopping close by. The “Waterside Place" condominium is a charming enclave comprised of only 5 buildings (20 units) tucked away inside the “Retreat at Naples” without age restriction & merely SHARES the main gate of the prestigious “Bentley Village” retirement community. This second-floor end unit features 12 ft high vaulted ceilings with a new impact skylight. The meticulous owners executed a “nothing spared” renovation in 2022, complete with new luxury flooring, modern baseboards with matching doors and trim, an expanded & very open designer kitchen, newly installed quartz countertops and stainless appliances, & 7” crown molding in all rooms. Both bathrooms feature shaker cabinets with quartz countertops, white plantation shutters, custom laundry room cabinetry, a new water heater, & new interior water pipes! The rear lanai boasts a peaceful lake view, inviting all types of nature that Florida has to offer, with the convenience of electric, roll-down shutters.

Key facts

• Community pool
• Upgraded flooring
• Tennis courts

Tags

• PRIVATE IN-UNIT ELEVATOR
• COMMUNITY POOL
• TENNIS COURTS
• UPGRADED FLOORING
• BEAUTIFULLY APPOINTED KITCHEN

Property features AI

Finance

• Other: Development: Retreat (Waterside Place sub-condo); Deeded restrictions: No RV; Complex has 32 units; building has 8 units; 2 units per floor; building total floors: 2
• Financial info: Quarterly condo fee (listed); Total annual recurring fees listed
• HOA & community: Mandatory HOA (gated community); Professional management; Quarterly condo fee; Common maintenance covers cable, internet/Wi-Fi, irrigation water, lawn/land maintenance, legal/accounting, manager, master association fee, exterior pest control, reserves, security, sewer, street lights, street maintenance, trash removal, and water; Community amenities include bike and jog path, bocce court, cabana, community pool, extra storage, guest room, internet access, sidewalk, streetlight, tennis court, and underground utilities

Exterior

• Parking: Paved driveway; Attached garage with 1 garage space
• Security: Community security (included in association maintenance)
• Utilities: Central water; Central sewer; Cable available; Reclaimed irrigation water
• Home design: Residential property; Carriage/coach end-unit; Low-rise building (1–3 stories); Rear exposure facing north; Unit 402
• Construction: Concrete block construction; Stucco exterior; Tile roof; Built in 1996; Foundation type not specified
• Exterior features: Pond; Automatic sprinkler system; Shutters (electric); Single-hung windows; Zero lot line; Lake view / lake waterfront

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Range; Refrigerator/ice maker; Self-cleaning oven; Wine cooler
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning
• Interior features: Built-in cabinets; Cable prewire; Closet cabinets; High-speed internet available; Pantry; Smoke detectors; Volume ceilings; Walk-in closet; Window coverings; Private elevator; Great room; Split bedroom floor plan; Screened lanai/porch; Guest room and guest bath; Furnished
• Laundry & utility: Laundry in residence; Dryer; Auto garage door

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $479k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $479k).
• Recommended offer: $472k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 1.7% in Bonita Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety 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.
• Market conditions: Rents soft (-1.1%/yr); 595 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); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $5,415/mo this rent would consume 67% 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 $14k 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 24 days — a 2% lower offer ($472k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $471,815 (1.5% below list)

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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.13% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• GRM: 7.4

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: -15.4%
• Equity multiple: 0.47×
• Total profit: $-71,269
• Equity at exit: $71,420

10-year hold

• IRR: -14.4%
• Equity multiple: 0.30×
• Total profit: $-93,487
• Equity at exit: $41,415

Cash invested: $134,120 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $5,415 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$396 /mo · $4,749/yr
• Insurance: −$200
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$763
• Vacancy / Maint / Mgmt: −$1,137
• Net cashflow: $342

Break-even live

Break-even rent $4,983

Max offer price $479,000

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	23d	1	0.05mi
14780 Glen Eden Dr Naples, FL	3.0	2.5	2184	$8,000	$3.66	23d	1	0.05mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	23d	1	0.21mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.25mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	23d	1	0.45mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	23d	1	0.45mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	13d	1	0.49mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	23d	1	0.53mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	23d	1	0.58mi
945 Carrick Bend Cir #201 Naples, FL	3.0	2.0	2360	$2,995	$1.27	13d	1	0.61mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$5,500	$3.13	23d	2	0.63mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	13d	1	0.65mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	23d	3	0.65mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	23d	1	0.66mi
15191 Cedarwood Ln #2602 Naples, FL	2.0	2.0	1267	$2,300	$1.82	23d	1	0.66mi
290 Naples Cove Dr Naples, FL	2.0	2.0	1327	$3,400	$2.56	23d	3	0.68mi
15400 Cedarwood Ln Unit 1-201 Naples, FL	2.0	2.0	1286	$6,000	$4.67	23d	1	0.72mi
15400 Cedarwood Ln #102 Naples, FL	2.0	2.0	1286	$6,300	$4.90	13d	1	0.72mi
285 Naples Cove Dr #1103 Naples, FL	2.0	2.0	1267	$2,475	$1.95	23d	1	0.72mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	13d	4	0.73mi
270 Naples Cove Dr #3506 Naples, FL	3.0	2.0	1475	$2,500	$1.69	21d	1	0.74mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	23d	1	0.74mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	13d	1	0.75mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	23d	1	0.76mi
15415 Cedarwood Ln Unit 3 Naples, FL	2.0	2.0	1428	$2,200	$1.54	13d	1	0.78mi
1680 Sanctuary Pointe Ct Naples, FL	3.0	2.0	1888	$5,900	$3.12	23d	1	0.78mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	23d	1	0.80mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	23d	1	0.83mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	23d	1	0.84mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	23d	1	0.88mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	23d	1	0.90mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	23d	1	0.90mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	13d	1	0.90mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	23d	1	0.90mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	23d	1	0.90mi
1250 Silverstrand Dr Naples, FL	3.0	2.0	1848	$5,000	$2.71	23d	1	0.91mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	21d	1	0.93mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	23d	1	0.93mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	23d	1	0.94mi
1390 Sweetwater Cv #203 Naples, FL	2.0	2.0	1279	$2,200	$1.72	13d	1	0.95mi

HOA detail condo

• Monthly dues: $763 · $9,156/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $479,000 Active 24 DOM
2. 2026-06-17
   days on market $479,000 Active 23 DOM
3. 2026-06-16
   days on market $479,000 Active 22 DOM
4. 2026-06-15
   days on market $479,000 Active 21 DOM
5. 2026-06-14
   days on market $479,000 Active 19 DOM
6. 2026-06-10
   days on market $479,000 Active 16 DOM
7. 2026-06-09
   days on market $479,000 Active 15 DOM
8. 2026-06-08
   days on market $479,000 Active 14 DOM
9. 2026-06-07
   days on market $479,000 Active 13 DOM
10. 2026-06-03
    days on market $479,000 Active 9 DOM
11. 2026-06-03
    remarks 693-char remark
12. 2026-06-03
    listed $479,000 Active 8 DOM

ⓘ 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: $4,749 · $396/mo
• Projected year-2 tax: $4,749 · $396/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 7/10 Severe FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $64,986
• − Mortgage interest: −$26,831
• − Property taxes: −$4,749
• − Insurance: −$3,192
• − Repairs & maintenance: −$5,199
• − Management: −$5,199
• − HOA: −$9,156
• − Depreciation: −$13,935
• Taxable loss: −$3,275
• Est. tax savings @ 24.0%: +$786
• After-tax cash flow: $4,885/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

Amenities F Commute F Cost of living C- Crime A+ Employment A 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
• City population: 64,727
• 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

+180.9% since first listed

19 events — show timeline

• 2026-05-25 Listed $479,000 NAPLESMLS
• 2024-02-13 Sold (Public Records) $640,000 Public Records
• 2024-02-01 Sold (MLS) $640,000 NAPLESMLS
• 2024-01-28 Pending — NAPLESMLS
• 2024-01-19 Pending — NAPLESMLS
• 2023-10-11 Listed $659,900 NAPLESMLS
• 2022-03-16 Sold (Public Records) $702,500 Public Records
• 2022-03-04 Sold (MLS) $702,500 NAPLESMLS
• 2022-02-17 Pending — NAPLESMLS
• 2022-02-11 Pending — NAPLESMLS
• 2022-02-05 Listed $624,900 NAPLESMLS
• 2020-03-02 Sold (Public Records) $282,500 Public Records
• 2020-02-28 Sold (MLS) $282,500 NAPLESMLS
• 2020-01-14 Pending — NAPLESMLS
• 2020-01-06 Listed $298,000 NAPLESMLS
• 2015-03-31 Sold (Public Records) $237,500 Public Records
• 2004-04-07 Sold (Public Records) $239,400 Public Records
• 2002-10-28 Sold (Public Records) $200,000 Public Records
• 1997-07-03 Sold (Public Records) $170,500 Public Records

Property tax history

+12.0%/yr

Latest (2025): $4,749 · -0.5% YoY. Source: county tax records.