340 Horse Creek Dr #305 · Naples Park, FL 34110

$260,000

2 bd · 2.0 ba · 1,326 sqft · Condo public records · 43 Days on market

Built 1990 $959/mo HOA · 20% of rent

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

BRING YOUR TOOTHBRUSH AND ENJOY THIS FULLY FURNISHED 2 BEDROOM CONDO WITH COMPLETELY BRAND NEW AC 2026!!! This unit is the LOWEST PRICE -and- OFFERS the MOST compared to any unit in the Building!! Discover this BEAUTIFUL BRIGHT SUNNY VIEW OF WATER AND BACK BAY FROM 3RD FLOOR in the VERY DESIRABLE GATED Princeton Place at WIGGINS BAY community. This home has been well maintained with BRAND NEW MAJOR SYSTEMS and more recently updated, including: BRAND NEW AC (MAY 2026) • Brand new water heater (2025) • New pipes (2025) • 2-year-old roof • Brand new washer and dryer NEVER BEEN USED • Electric shutters Selling fully furnished and ready for your personal touch

Key facts

• Grilling areas
• Gated security
• Electric shutters

Tags

• GATED SECURITY
• ELECTRIC SHUTTERS
• HEATED SWIMMING POOL
• GRILLING AREAS
• PRIME NORTH NAPLES LOCATION

Property features AI

Finance

• Financial info: Pets allowed (call/conditional)
• HOA & community: Homeowners association (annual fee applies); Association fee covers cable TV, internet, irrigation water, grounds maintenance, sewer, security, trash and water; Community amenities include beach rights/access, private membership options, pool, trails, management, elevator, gated access and tennis courts; 184 units in the community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Gated community; Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Reclaimed irrigation water
• Home design: 1 story; Entry level: 3; North-facing
• Construction: Tile roof; Block, concrete and stucco construction
• Exterior features: Patio; Balcony; Screened patio; Shutters (electric); Community pool; Security gate and gated community; Smoke detectors

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Self-cleaning oven; Refrigerator; Freezer; Eat-in kitchen; Breakfast bar
• Bedrooms: Guest quarters
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Double-hung windows; Furnished; Breakfast bar; Bathtub; Dual sinks; Eat-in kitchen; Jetted tub; Living/dining room; Separate shower; Walk-in closets; Split bedroom layout
• Laundry & utility: Inside laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#696 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, employment B+; Watch: health & safety D, schools F, 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 soft (-1.1%/yr); 595 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 $4,886/mo this rent would consume 60% 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 $2k of loan paydown is wiped out by about $8k 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 43 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $217k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $252,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.88% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.32%
• DSCR: 1.82
• GRM: 4.4

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $10,797
• Equity at exit: $38,767

10-year hold

• IRR: 9.3%
• Equity multiple: 1.59×
• Total profit: $42,594
• Equity at exit: $22,480

Cash invested: $72,800 (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: 4.4×

Monthly cashflow live

• Estimated rent: $4,886 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$318 /mo · $3,818/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$959
• Vacancy / Maint / Mgmt: −$1,026
• Net cashflow: $1,045

Break-even live

Break-even rent $3,564

Max offer price $260,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,192	-5% $1,118	+0% $1,045	+5% $971	+10% $898
Rent	-10% $659	-5% $852	+0% $1,045	+5% $1,238	+10% $1,431
Rate	-1.0pp $1,176	-0.5pp $1,111	base $1,045	+0.5pp $978	+1.0pp $909

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	24d	1	0.02mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	15d	4	0.05mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	24d	1	0.05mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	24d	1	0.10mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	24d	1	0.16mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	24d	1	0.19mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	24d	1	0.19mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	24d	1	0.19mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	24d	1	0.23mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	24d	2	0.32mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	22d	1	0.32mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	15d	1	0.32mi
12945 Vanderbilt Dr Naples, FL	2.0	2.0	1301	$5,250	$4.04	24d	2	0.37mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	24d	1	0.37mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	24d	1	0.41mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	24d	1	0.44mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	24d	1	0.51mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	24d	1	0.53mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	15d	1	0.53mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	22d	1	0.54mi
1282 Belaire Ct Naples, FL	3.0	3.5	1495	$9,500	$6.35	24d	1	0.60mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	15d	1	0.62mi
1284 Rainbow Ct Naples, FL	2.0	2.0	1572	$4,200	$2.67	22d	1	0.64mi
1296 Grand Canal Dr Naples, FL	3.0	2.0	1614	$8,000	$4.96	24d	1	0.67mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	24d	1	0.67mi
1337 Center Ln Naples, FL	3.0	2.0	1500	$4,300	$2.87	24d	1	0.69mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	24d	1	0.74mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	24d	1	0.80mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	24d	2	0.80mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	24d	1	0.81mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	15d	1	0.86mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	15d	1	0.89mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	24d	1	0.90mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	24d	1	0.91mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	24d	1	0.91mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	24d	1	0.99mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	24d	1	1.00mi
509 Roma Ct Naples, FL	3.0	2.0	1322	$3,850	$2.91	24d	3	1.07mi
519 Roma Ct Naples, FL	3.0	2.0	1260	$4,450	$3.53	15d	6	1.07mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	24d	3	1.10mi

HOA detail condo

• Monthly dues: $959 · $11,508/yr
• Likely covers: waterelectricsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $260,000 Active 43 DOM
2. 2026-06-18
   days on market $260,000 Active 40 DOM
3. 2026-06-17
   days on market $260,000 Active 39 DOM
4. 2026-06-16
   days on market $260,000 Active 38 DOM
5. 2026-06-15
   days on market $260,000 Active 37 DOM
6. 2026-06-14
   days on market $260,000 Active 35 DOM
7. 2026-06-10
   days on market $260,000 Active 32 DOM
8. 2026-06-09
   days on market $260,000 Active 31 DOM
9. 2026-06-08
   days on market $260,000 Active 30 DOM
10. 2026-06-07
    days on market $260,000 Active 29 DOM
11. 2026-06-03
    days on market $260,000 Active 25 DOM
12. 2026-06-02
    days on market $260,000 Active 24 DOM
13. 2026-06-01
    days on market $260,000 Active 23 DOM
14. 2026-06-01
    price $260,000 Active 22 DOM
15. 2026-05-31
    days on market $295,000 Active 22 DOM
16. 2026-05-30
    days on market $295,000 Active 21 DOM
17. 2026-05-09
    listed $295,000 Active
18. 2017-04-05
    historical
19. 2017-02-22
    price $335,900
20. 2017-01-23
    historical
21. 2017-01-23
    listed $350,000 Active
22. 2016-10-20
    listed $350,000 Active
23. 2008-11-04
    soldstatus $217,000
24. 2003-02-12
    soldstatus $191,000
25. 1989-06-01
    soldstatus $119,500

ⓘ 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: $3,818 · $318/mo
• Projected year-2 tax: $3,818 · $318/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) · 95% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $58,638
• − Mortgage interest: −$14,564
• − Property taxes: −$3,818
• − Insurance: −$2,098
• − Repairs & maintenance: −$4,691
• − Management: −$4,691
• − HOA: −$11,508
• − Depreciation: −$7,564
• Taxable income: $9,704
• Est. tax owed @ 24.0%: −$2,329
• After-tax cash flow: $10,209/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 — Naples Park

• Score: 64/100
• State rank: #696
• US rank: #14564

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment B+ 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
• 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

+146.9% since first listed

9 events — show timeline

• 2026-05-09 Listed $295,000 FORTMLS
• 2017-04-05 Listing Removed — NAPLESMLS
• 2017-02-22 Price Changed $335,900 NAPLESMLS
• 2017-01-23 Listing Removed — NAPLESMLS
• 2017-01-23 Listed $350,000 NAPLESMLS
• 2016-10-20 Listed $350,000 NAPLESMLS
• 2008-11-04 Sold (Public Records) $217,000 Public Records
• 2003-02-12 Sold (Public Records) $191,000 Public Records
• 1989-06-01 Sold (Public Records) $119,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $3,818 · -0.7% YoY. Source: county tax records.