10275 Heritage Bay Blvd #744 · Heritage Bay, FL 34120

$334,000

2 bd · 2.0 ba · 1,194 sqft · Condo public records · 139 Days on market

Built 2006 $1223/mo HOA · 24% 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 +22.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Schools +5.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WONDERFUL LAKE VIEWS!!!! 2 BEDROOM, 2 BATH HOME WITH OPEN FLOOR PLAN AND GREAT LOOKING KITCHEN - All appliances. Golfers Paradise. Golfers Paradise. Community pool, exercise room, clubhouse. This is a Fannie Mae HomePath property. Purchase this property for as little as 5% down. This property is approved for HomePath Mortgage Financing and HomePath Renovation Mortgage Financing. This property is approved for HomePath Mortgage and HomePath Renovation Mortgage.

Key facts

• Plantation shutters
• Newer carpet
• Crown molding

Tags

• PRIVATE SCREENED LANAI
• NEWER CARPET
• CROWN MOLDING
• PLANTATION SHUTTERS
• STAINLESS STEEL APPLIANCES
• IMPACT WINDOWS

Property features AI

Finance

• Other: Property is part of a large complex with 1,250 units and 30 units in the building; 4 units per floor; single-floor unit
• Financial info: Total annual recurring fees listed; Total one-time fees listed
• HOA & community: Mandatory HOA; Master HOA fee paid annually; Condo fee billed quarterly; Professional management; Maintenance covers cable, golf course, internet/Wi‑Fi, irrigation water, lawn/land, pest control (exterior), recreation facilities, repairs, reserves, security, street lights and maintenance, and water; Community amenities include clubhouse, community pool and spa/hot tub, exercise room, extra storage, golf course, pickleball, tennis, bocce, putting green, restaurant, sauna, bike and jog paths, bike storage, sidewalks, streetlights, underground utilities; Gated golf-course community (golf bundled)

Exterior

• Parking: 1 assigned covered parking; Detached 1-car carport; Guest parking available
• Security: Gated community with guard at gate
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in a mid-rise (4-7) building; Rear exposure to the west; Subdivision: HERITAGE BAY, Terrace (unit 744)
• Construction: Built in 2006; Concrete block construction; Stucco exterior; Tile roof; Impact resistant sliding windows
• Exterior features: Automatic sprinkler system; Water feature/display; Lakefront; Views of golf course, lake and preserve; Zero lot line; Paved road access; Reclaimed irrigation with assessment paid

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Refrigerator/ice maker; Self-cleaning oven
• Bedrooms: 2 bedrooms (split bedroom layout); Guest room
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with bidet and shower
• Heating & cooling: Central electric heating; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Fire sprinkler system; Pantry; Smoke detectors; Volume ceiling; Walk-in closet; Window coverings; Common elevator access; Screened balcony; Turnkey furnished; 3 ceiling fans
• Laundry & utility: Washer (in residence); Washer/dryer hookup; Water treatment system (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $334k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $334k).
• Recommended offer: $294k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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.
• Zoned schools: Corkscrew Elementary School (math 76% / reading 73%, grade A, #230 of 2,144 statewide, top 12%, 863 students, 35% FRL); Palmetto Ridge High School (math 43% / reading 51%, grade D-, #207 of 667 statewide, top 32%, 2,347 students, 38% FRL) — zoned schools average 37% FRL vs 55% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.6%/yr); 1124 active listings in the ZIP; 18 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 $5,036/mo this rent would consume 64% of the median local household income ($94k/yr) (locally 409% 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 $10k 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 139 days — a 12% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $31k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $186k; list at $334k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; HOA is 24% of rent.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→35/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $293,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.51% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 5.5

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: -13.6%
• Equity multiple: 0.53×
• Total profit: $-43,913
• Equity at exit: $49,800

10-year hold

• IRR: -14.2%
• Equity multiple: 0.35×
• Total profit: $-60,709
• Equity at exit: $28,878

Cash invested: $93,520 (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 34120

• Rents YoY: -1.6%
• Active inventory: 1124
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $5,036 high
• Mortgage (P&I): −$1,752
• Tax from tax record: −$334 /mo · $4,009/yr
• Insurance: −$139
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$1,223
• Vacancy / Maint / Mgmt: −$1,057
• Net cashflow: $378

Break-even live

Break-even rent $4,557

Max offer price $334,000

Occupancy floor 87%

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: $83,500
• Closing costs: $10,020
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10275 Heritage Bay Blvd Naples, FL	2.0	2.0	1301	$4,500	$3.46	23d	2	0.01mi
10270 Heritage Bay Blvd #3422 Naples, FL	2.0	2.0	1414	$6,500	$4.60	23d	1	0.07mi
10313 Heritage Bay Blvd #1342 Naples, FL	2.0	2.0	1232	$6,500	$5.28	23d	1	0.31mi
10307 Heritage Bay Blvd Naples, FL	2.0	2.0	1194	$2,800	$2.35	14d	1	0.34mi
10330 Heritage Bay Blvd #2626 Naples, FL	2.0	2.0	1414	$6,900	$4.88	23d	1	0.35mi
10338 Heritage Bay Blvd #2514 Naples, FL	2.0	2.0	1414	$2,500	$1.77	23d	1	0.36mi
10317 Heritage Bay Blvd #1416 Naples, FL	2.0	2.0	1232	$7,000	$5.68	23d	1	0.36mi
10321 Heritage Bay Blvd Naples, FL	2.0–3.0	2.0	1320	$6,500	$4.92	21d	2	0.39mi
10321 Heritage Bay Blvd Naples, FL	2.0–3.0	2.0	1301	$5,400	$4.15	23d	3	0.39mi
10337 Heritage Bay Blvd Naples, FL	2.0	2.0	1213	$4,400	$3.63	23d	4	0.43mi
10333 Heritage Bay Blvd #1715 Naples, FL	2.0	2.0	1194	$6,000	$5.03	23d	1	0.43mi
10329 Heritage Bay Blvd #1622 Naples, FL	2.0	2.0	1232	$5,500	$4.46	23d	1	0.43mi
10345 Heritage Bay Blvd Naples, FL	2.0	2.0	1232	$4,425	$3.59	14d	2	0.44mi
10349 Heritage Bay Blvd #2117 Naples, FL	2.0	2.0	1232	$2,300	$1.87	14d	1	0.45mi
10353 Heritage Bay Blvd #2226 Naples, FL	2.0	2.0	1232	$6,500	$5.28	14d	1	0.47mi
10353 Heritage Bay Blvd #2226 Naples, FL	2.0	2.0	1232	$6,500	$5.28	23d	1	0.47mi
10044 Siesta Bay Dr #9412 Naples, FL	2.0	2.0	1414	$2,500	$1.77	23d	1	0.85mi
2335 Sawyers Hill Rd #503 Naples, FL	2.0	2.0	1467	$2,700	$1.84	23d	1	1.46mi

HOA detail condo

• Monthly dues: $1,223 · $14,676/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $334,000 Active 139 DOM
2. 2026-06-17
   days on market $334,000 Active 138 DOM
3. 2026-06-16
   days on market $334,000 Active 137 DOM
4. 2026-06-15
   days on market $334,000 Active 136 DOM
5. 2026-06-14
   days on market $334,000 Active 134 DOM
6. 2026-06-10
   days on market $334,000 Active 131 DOM
7. 2026-06-09
   days on market $334,000 Active 130 DOM
8. 2026-06-08
   days on market $334,000 Active 129 DOM
9. 2026-06-07
   days on market $334,000 Active 128 DOM
10. 2026-06-03
    days on market $334,000 Active 124 DOM
11. 2026-06-02
    days on market $334,000 Active 123 DOM
12. 2026-06-01
    days on market $334,000 Active 122 DOM
13. 2026-05-31
    days on market $334,000 Active 121 DOM
14. 2026-05-30
    days on market $334,000 Active 120 DOM
15. 2026-05-06
    price $334,000
16. 2026-03-11
    price $345,000
17. 2026-02-16
    price $350,000
18. 2026-01-30
    listed $365,000 Active
19. 2020-02-07
    soldstatus $186,000
20. 2015-05-14
    listed $119,900
21. 2014-09-05
    price $149,900 463-char remark

    Show marketing remark (463 chars)

    WONDERFUL LAKE VIEWS!!!! 2 BEDROOM, 2 BATH HOME WITH OPEN FLOOR PLAN AND GREAT LOOKING KITCHEN - All appliances. Golfers Paradise. Golfers Paradise. Community pool, exercise room, clubhouse. This is a Fannie Mae HomePath property. Purchase this property for as little as 5% down. This property is approved for HomePath Mortgage Financing and HomePath Renovation Mortgage Financing. This property is approved for HomePath Mortgage and HomePath Renovation Mortgage.

22. 2014-09-05
    soldstatus $145,000 463-char remark

    Show marketing remark (463 chars)

    WONDERFUL LAKE VIEWS!!!! 2 BEDROOM, 2 BATH HOME WITH OPEN FLOOR PLAN AND GREAT LOOKING KITCHEN - All appliances. Golfers Paradise. Golfers Paradise. Community pool, exercise room, clubhouse. This is a Fannie Mae HomePath property. Purchase this property for as little as 5% down. This property is approved for HomePath Mortgage Financing and HomePath Renovation Mortgage Financing. This property is approved for HomePath Mortgage and HomePath Renovation Mortgage.

23. 2014-02-26
    listed $145,000 463-char remark

    Show marketing remark (463 chars)

    WONDERFUL LAKE VIEWS!!!! 2 BEDROOM, 2 BATH HOME WITH OPEN FLOOR PLAN AND GREAT LOOKING KITCHEN - All appliances. Golfers Paradise. Golfers Paradise. Community pool, exercise room, clubhouse. This is a Fannie Mae HomePath property. Purchase this property for as little as 5% down. This property is approved for HomePath Mortgage Financing and HomePath Renovation Mortgage Financing. This property is approved for HomePath Mortgage and HomePath Renovation Mortgage.

24. 2013-09-26
    historical

ⓘ 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: $4,009 · $334/mo
• Projected year-2 tax: $4,009 · $334/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 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 8 d/yr ≥108°F today · 35 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: $60,427
• − Mortgage interest: −$18,709
• − Property taxes: −$4,009
• − Insurance: −$3,494
• − Repairs & maintenance: −$4,834
• − Management: −$4,834
• − HOA: −$14,676
• − Depreciation: −$9,716
• Taxable income: $154
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $4,503/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 — Heritage Bay

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

Census & demographics

• Census place: Heritage Bay, FL
• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 42,345
• Household income: $93,861
• Rent vs Own: 9.4% rent · 90.6% own
• Severe rent burden: 409.0

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 0.58)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 23% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 13%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 62% English-only · Spanish 28% French/Haitian/Cajun 5% Other Indo-European 3%

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: ▼ -223.18%
• Current HPI: 316.2474
• Rent YoY: ▼ -1.65%
• 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

+130.3% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $334,000 NAPLESMLS
• 2026-03-11 Price Changed $345,000 NAPLESMLS
• 2026-02-16 Price Changed $350,000 NAPLESMLS
• 2026-01-30 Listed $365,000 NAPLESMLS
• 2020-02-07 Sold (Public Records) $186,000 Public Records
• 2015-05-14 Listed $119,900 FORTMLS
• 2014-09-05 Sold (MLS) $145,000 NAPLESMLS
• 2014-09-05 Price Changed $149,900 NAPLESMLS
• 2014-02-26 Listed $145,000 NAPLESMLS
• 2013-09-26 Listing Removed — FORTMLS

Property tax history

+8.8%/yr

Latest (2025): $4,009 · +2.0% YoY. Source: county tax records.