280 Indies Dr E Unit 101,102,201,202 · Marco Shores-Hammock Bay, FL 34114

$1,800,000

12 bd · 8.0 ba · 6,092 sqft · MultiFamily · 286 Days on market

Built 2023

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.3/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Seller Paid Maintenance Fees for 2 years. Rare new construction assemblage offering at Bonnaire in Antilles Naples Area‚ four Classic Coach Home condominium residences in Building #26 (Units 101, 102, 201, and 202) conveyed together as a full condminium building package. The developer will pay two years condominium fees, with a minium of 4 units purchased. This advantage reduces ownership costs, strengthens ROI investment performance and enhances buyer value from day one. This assemblage totals 12 bedrooms, 8 baths, 4 kitchens and 4 garages. The lower Saba plans (101 and 102) each feature 1,537 sq. ft. of open living with 3 bedrooms, 2 baths, breakfast-bar kitchens, walk in closets, s

Key facts

• Fitness center
• Elevated finishes
• Impact-rated windows

Tags

• NEW CONSTRUCTION ASSEMBLAGE
• PRIVATE ENTRIES
• ELEVATED FINISHES
• IMPACT-RATED WINDOWS
• INFINITY-EDGE POOL
• FITNESS CENTER

Property features AI

Finance

• Other: Property identified as Residential Income; Quadraplex with 1 unit represented for this listing in a 4-unit building
• HOA & community: Gated community; Community amenities include bike and jog path, billiards, bocce court, clubhouse, community pool, community spa/hot tub, exercise room, pickleball, putting green, and sidewalks

Exterior

• Parking: Carriage/coach style parking (see remarks)
• Security: Impact resistant windows
• Utilities: Central water (assessment paid); Central sewer (assessment paid); Electric service
• Home design: Residential income property; Quadraplex building design; 2-story carriage/coach style; Built in 2023; Located in the Antilles development
• Construction: Concrete block and piling construction; Stucco exterior finish; Tile roof; Built in 2023
• Exterior features: Patio; Pond; Automatic sprinkler system (city water source); Water display

Interior

• Bedrooms: Unit count: 1 unit within a 4-unit building (quadraplex configuration)
• Flooring: Concrete; Tile
• Bathrooms: 8 full bathrooms
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Concrete and tile flooring

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.0-bath units multifamily listed at $1.80M.

Deal economics

• At list price, monthly cash flow is $7k ($85k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.80M).
• Recommended offer: $1.58M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $25,298/mo this rent would consume 340% 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 $12k of loan paydown is wiped out by about $27k 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 (-1.5% appreciation + 3.2% rent growth), your $504k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($1.58M) is reasonable based on typical stale-listing flexibility.

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; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,584,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.97%
• DSCR: 1.80
• GRM: 5.9

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: 12.9%
• Equity multiple: 1.57×
• Total profit: $285,208
• Equity at exit: $393,324

10-year hold

• IRR: 19.7%
• Equity multiple: 2.91×
• Total profit: $964,513
• Equity at exit: $378,880

Cash invested: $504,000 (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: 23.7×

Monthly cashflow live

• Estimated rent: $25,298 high
• Mortgage (P&I): −$9,439
• Tax est. 1.5%: −$2,250 /mo · $27,000/yr
• Insurance: −$750
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,313
• Net cashflow: $7,119

Break-even live

Break-even rent $16,286

Max offer price $1,800,000

Occupancy floor 67%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$25,296
Total (4 units)			$25,298

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: $450,000
• Closing costs: $54,000
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $1,800,000 Active 286 DOM
2. 2026-06-17
   days on market $1,800,000 Active 285 DOM
3. 2026-06-16
   days on market $1,800,000 Active 284 DOM
4. 2026-06-15
   days on market $1,800,000 Active 283 DOM
5. 2026-06-10
   days on market $1,800,000 Active 278 DOM
6. 2026-06-09
   days on market $1,800,000 Active 277 DOM
7. 2026-06-08
   days on market $1,800,000 Active 276 DOM
8. 2026-06-07
   days on market $1,800,000 Active 275 DOM
9. 2026-06-02
   days on market $1,800,000 Active 270 DOM
10. 2026-06-01
    days on market $1,800,000 Active 269 DOM
11. 2026-05-31
    days on market $1,800,000 Active 268 DOM
12. 2026-05-30
    days on market $1,800,000 Active 267 DOM
13. 2025-09-05
    listed $1,800,000 Active

ⓘ 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 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $303,576
• − Mortgage interest: −$100,828
• − Property taxes: −$27,000
• − Insurance: −$14,118
• − Repairs & maintenance: −$24,286
• − Management: −$24,286
• − Depreciation: −$52,364
• Taxable income: $60,694
• Est. tax owed @ 24.0%: −$14,566
• After-tax cash flow: $70,867/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 — Marco Shores-Hammock Bay

No livability data for this city. (Only ~50 U.S. cities are tracked.)

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

1 event — show timeline

• 2025-09-05 Listed $1,800,000 NAPLESMLS