5880 Three Iron Dr #801 · Bonita Springs, FL 34110

$619,900

3 bd · 2.0 ba · 1,633 sqft · Condo public records · 142 Days on market

Built 1999 $1030/mo HOA · 17% 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 +12.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Immediate Golf Membership available in The Strand. Welcome to this beautifully updated 3-bedroom, 2-bath residence in the highly sought-after Clubside neighborhood, ideally located just steps from the clubhouse. This condo offers the perfect blend of comfort, style, and resort-style living. Inside, you’ll find new Pergo flooring complemented by newer carpeting in the bedrooms and a thoughtfully renovated guest bathroom. The kitchen features new stainless-steel appliances and granite countertops, making it both functional and inviting for everyday living or entertaining. The spacious lanai; offering warm morning sun is finished with tile flooring and showcases stunning views of the gol

Key facts

• Granite countertops
• Spacious lanai
• $1,030 HOA

Tags

• RENOVATED GUEST BATHROOM
• NEW STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• SPACIOUS LANAI
• ELECTRIC HURRICANE SHUTTERS
• PRIVATE GATED COMMUNITY

Property features AI

Finance

• HOA & community: Mandatory HOA with professional management; Quarterly master HOA fee ($448); Quarterly condo fee ($1,602); Annual mandatory club fee ($4,162); Total annual recurring fees $12,362; total one-time fees $600; HOA maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserves, security, sewer, street lights, street maintenance and trash removal; Community amenities include clubhouse, community pool and spa, exercise room, tennis, pickleball, basketball, putting green, golf course (non-equity), restaurant, bike/jog paths, sidewalks and underground utilities; Gated golf-course community with private membership options

Exterior

• Parking: Attached 2-car garage
• Security: Unmonitored alarm system; Security system
• Utilities: Central water; Central sewer; Cable available; Electric service
• Home design: Residential carriage/coach end-unit; 2-story low-rise (1–3) building; Rear exposure facing SE; Located in The Strand development (Clubside sub-condo)
• Construction: Concrete block construction; Built in 1999; Stucco finish; Metal roof
• Exterior features: Stucco exterior; Metal roof; Double-hung windows; Electric storm shutters; Golf course, lake and landscaped views with water feature; Central irrigation; Zero lot line; Screened lanai/porch

Interior

• Kitchen: Electric cooktop; Self-cleaning oven; Microwave; Dishwasher; Garbage disposal; Refrigerator/freezer; Breakfast bar; Eat-in kitchen
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl
• 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: Built-in cabinets; Cable prewire / cable available; Fire sprinkler system; High-speed internet available; Laundry tub; Smoke detectors; Walk-in closet(s); Turnkey furnished; Split-bedroom floor plan; Screened lanai/porch
• Laundry & utility: Washer and dryer included; Laundry in residence; Auto garage door

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $620k.

Deal economics

• At list price, monthly cash flow is $-80 ($-966/yr) — negative.
• To cash-flow at today's rent, offer at most $606k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $595k (3.9% below list).
• Recommended offer: $546k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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: cost of living C-, 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.
• Zoned schools: Veterans Memorial Elementary School (math 78% / reading 79%, grade A, #141 of 2,144 statewide, top 7%, 743 students, 22% 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 22% FRL vs 55% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 58% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• 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 $5,954/mo this rent would consume 73% 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 $4k of loan paydown is wiped out by about $19k 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 142 days — a 12% lower offer ($546k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $225k; list at $620k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $545,512 (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 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.96% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 8.7

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: -21.0%
• Equity multiple: 0.29×
• Total profit: $-122,628
• Equity at exit: $92,429

10-year hold

• IRR: -24.8%
• Equity multiple: -0.03×
• Total profit: $-179,204
• Equity at exit: $53,598

Cash invested: $173,572 (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: 8.7×

Monthly cashflow live

• Estimated rent: $5,954 high
• Mortgage (P&I): −$3,251
• Tax from tax record: −$245 /mo · $2,944/yr
• Insurance: −$258
• HOA: −$1,030
• Vacancy / Maint / Mgmt: −$1,250
• Net cashflow: $-80

Break-even live

Break-even rent $6,056

Max offer price $605,686

Occupancy floor 96%

Sensitivity live

Price	-10% $270	-5% $95	+0% $-80	+5% $-256	+10% $-431
Rent	-10% $-551	-5% $-316	+0% $-80	+5% $155	+10% $390
Rate	-1.0pp $232	-0.5pp $77	base $-80	+0.5pp $-241	+1.0pp $-405

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: $154,975
• Closing costs: $18,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5870 3 Iron Dr Unit 4-401 Naples, FL	3.0	2.0	1633	$8,000	$4.90	25d	1	0.05mi
5885 Three Iron Dr #1102 Naples, FL	3.0	2.0	1633	$7,000	$4.29	25d	1	0.05mi
5892 Three Iron Dr #1504 Naples, FL	2.0	2.0	1793	$7,000	$3.90	25d	1	0.06mi
5923 Sand Wedge Ln #1906 Naples, FL	2.0	2.0	1540	$2,695	$1.75	23d	1	0.23mi
5937 Sand Wedge Ln #1507 Naples, FL	2.0	2.0	1540	$6,500	$4.22	25d	1	0.23mi
5886 Paradise Cir Naples, FL	3.0	3.0	1922	$6,800	$3.54	25d	1	0.24mi
5941 Sand Wedge Ln #1206 Naples, FL	2.0	2.0	1540	$3,450	$2.24	25d	1	0.25mi
5945 Sand Wedge Ln #1003 Naples, FL	2.0	2.0	1490	$6,000	$4.03	25d	1	0.26mi
5928 Sand Wedge Ln #1805 Naples, FL	2.0	2.0	1478	$6,500	$4.40	25d	1	0.27mi
5928 Sand Wedge Ln #1808 Naples, FL	2.0	2.0	1478	$6,000	$4.06	25d	1	0.27mi
5940 Sand Wedge Ln #1407 Naples, FL	2.0	2.0	1540	$5,500	$3.57	25d	1	0.29mi
5944 Sand Wedge Ln #1108 Naples, FL	2.0	2.0	1478	$6,250	$4.23	25d	1	0.29mi
5963 Sand Wedge Ln #203 Naples, FL	2.0	2.0	1490	$5,750	$3.86	25d	1	0.34mi
5963 Sand Wedge Ln #205 Naples, FL	2.0	2.0	1478	$6,500	$4.40	25d	1	0.34mi
5967 Sand Wedge Ln #106 Naples, FL	2.0	2.0	1540	$2,875	$1.87	25d	1	0.34mi
5963 Trophy Dr #2002 Naples, FL	2.0	2.0	2160	$8,000	$3.70	25d	1	0.35mi
6029 Trophy Dr #301 Naples, FL	2.0	2.0	2160	$6,000	$2.78	25d	1	0.38mi
3555 Laurel Greens Ln N #202 Naples, FL	2.0	2.0	1784	$5,000	$2.80	25d	1	0.39mi
6000 Pinnacle Ln #2503 Naples, FL	3.0	2.0	2150	$5,000	$2.33	25d	1	0.39mi
3545 Laurel Greens Ln N #201 Naples, FL	2.0	2.0	1708	$3,700	$2.17	25d	1	0.40mi
6017 Trophy Dr #601 Naples, FL	3.0	2.0	2160	$8,000	$3.70	25d	1	0.42mi
6015 Pinnacle Ln Unit 5 Naples, FL	3.0	2.0	2150	$7,500	$3.49	25d	1	0.42mi
6025 Pinnacle Ln Unit 1 Naples, FL	2.0	2.0	1633	$8,000	$4.90	25d	1	0.43mi
7000 Pinnacle Ln #1401 Naples, FL	3.0	2.0	1636	$8,500	$5.20	25d	1	0.45mi
3515 Grand Cypress Ct Naples, FL	2.0	2.0	1997	$9,000	$4.51	25d	1	0.47mi
3465 Laurel Greens Ln S #103 Naples, FL	2.0	2.0	1789	$2,550	$1.43	25d	1	0.49mi
3910 Jasmine Lake Cir Naples, FL	3.0	2.0	1848	$5,500	$2.98	25d	1	0.51mi
3455 Laurel Greens Ln S #103 Naples, FL	3.0	2.0	1758	$5,500	$3.13	25d	1	0.51mi
3435 Laurel Greens Ln S #201 Naples, FL	3.0	2.0	1708	$3,000	$1.76	25d	1	0.55mi
16097 Ravina Way #36 Naples, FL	3.0	2.5	1580	$2,395	$1.52	23d	1	0.55mi
3435 Laurelgreens Ln S Unit 1 Naples, FL	3.0	2.0	1758	$6,000	$3.41	25d	1	0.55mi
6522 Waverly Green Way Naples, FL	3.0	2.0	2039	$4,500	$2.21	25d	1	0.56mi
3445 Grand Cypress Dr #202 Naples, FL	3.0	2.0	1853	$6,500	$3.51	25d	1	0.56mi
3425 Grand Cypress Dr #102 Naples, FL	3.0	2.0	1763	$6,500	$3.69	25d	1	0.57mi
16348 Viansa Way #101 Naples, FL	3.0	2.0	1710	$7,000	$4.09	25d	1	0.67mi
6478 Waverly Green Way Naples, FL	3.0	2.5	1711	$10,000	$5.84	25d	1	0.67mi
16356 Viansa Way #101 Naples, FL	3.0	2.0	1710	$12,000	$7.02	15d	1	0.67mi
16352 Viansa Way #101 Naples, FL	3.0	2.0	1710	$8,000	$4.68	25d	1	0.68mi
16432 Aberdeen Way Naples, FL	4.0	2.0	2055	$4,200	$2.04	25d	1	0.70mi
16366 Barclay Ct Naples, FL	4.0	2.0	2034	$4,750	$2.34	25d	1	0.83mi

HOA detail condo

• Monthly dues: $1,030 · $12,360/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $619,900 Active 142 DOM
2. 2026-06-18
   days on market $619,900 Active 139 DOM
3. 2026-06-17
   days on market $619,900 Active 138 DOM
4. 2026-06-16
   days on market $619,900 Active 137 DOM
5. 2026-06-15
   days on market $619,900 Active 136 DOM
6. 2026-06-14
   days on market $619,900 Active 134 DOM
7. 2026-06-10
   days on market $619,900 Active 131 DOM
8. 2026-06-09
   days on market $619,900 Active 130 DOM
9. 2026-06-08
   days on market $619,900 Active 129 DOM
10. 2026-06-07
    days on market $619,900 Active 128 DOM
11. 2026-06-03
    days on market $619,900 Active 124 DOM
12. 2026-06-03
    remarks 693-char remark
13. 2026-06-03
    listed $619,900 Active 123 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: $2,944 · $245/mo
• Projected year-2 tax: $5,145 · $429/mo
• Expected delta: +$2,201/yr (+$183/mo · 74.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥108°F today · 25 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: $71,453
• − Mortgage interest: −$34,724
• − Property taxes: −$2,944
• − Insurance: −$3,100
• − Repairs & maintenance: −$5,716
• − Management: −$5,716
• − HOA: −$12,360
• − Depreciation: −$18,033
• Taxable loss: −$11,141
• Est. tax savings @ 24.0%: +$2,674
• After-tax cash flow: $1,708/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

+175.5% since first listed

4 events — show timeline

• 2026-03-27 Relisted — NAPLESMLS
• 2026-03-18 Listing Removed — NAPLESMLS
• 2026-01-22 Listed $619,900 NAPLESMLS
• 2004-05-03 Sold (Public Records) $225,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,944 · +2.6% YoY. Source: county tax records.