21 San Lu Rue Ave #21 · Berkshire Lakes, FL 34104

$174,999

2 bd · 2.0 ba · 1,300 sqft · Manufactured · 111 Days on market

Built 1980 Average condition $250/mo HOA · 10% of rent ↓ 1% since listing

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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 +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +2.8/5.0
• Livability +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Blue Sky’s turnkey-furnished home is ready for immediate occupancy—an open-concept gem in a lively 55+ community. Low HOA fees, just steps from the pool, tennis courts, pickleball, bocce, and a tiki pavilion—your Florida playground is literally next door. Features include two bedrooms plus a den, 2 bathrooms, a full-size washer and dryer in a smart laundry nook with overhead storage, a glass-enclosed Florida room with a tool room, and covered parking. Located just minutes from downtown Naples’ top dining and shopping, as well as Marco Island’s sugar-sand beaches. Live easy, play hard—priced to move.

Key facts

• Open-concept gem
• Low hoa fees
• Pickleball

Tags

• TURNKEY-FURNISHED HOME
• OPEN-CONCEPT GEM
• LOW HOA FEES
• STEPS FROM THE POOL
• TENNIS COURTS
• PICKLEBALL

Property features AI

Finance

• Other: Zero lot line; Lot unit 21, Section 31; Restrictions: No RV
• HOA & community: Monthly community fee of $250 (total annual recurring fees $3,000); On-site management; Community maintenance covers cable, legal/accounting, manager, recreation facilities, sewer, trash removal and water; Community amenities include bocce court, community pool, community room, shuffleboard and tennis court; Community type: Mobile/Manufactured

Exterior

• Parking: Attached carport with 1 carport space
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; Split level; Rear exposure faces south; Located in Blue Skys Mobile Home Park (mobile/manufactured community)
• Construction: Built in 1980; Vinyl siding exterior; Metal roof; Single-hung windows; Manufactured building design
• Exterior features: Patio; Exterior storage; Pool/club view; Privacy wall; Shutters (manual)

Interior

• Kitchen: Cooktop (electric); Range; Self-cleaning oven; Microwave; Refrigerator/freezer; Disposal
• Bedrooms: 2 bedrooms plus a den
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and a shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Pantry; Walk-in closet; Wet bar; Window coverings; Dining area (living) and eat-in kitchen; Den / study; Laundry in residence; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% 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.
• Zoned schools: Poinciana Elementary School (math 64% / reading 63%, grade B, #564 of 2,144 statewide, top 27%, 507 students, 55% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL).
• Market conditions: Rents soft (-1.1%/yr); 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 41% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 111 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,249 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.95%
• DSCR: 1.53
• GRM: 5.9

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-4,323
• Equity at exit: $26,093

10-year hold

• IRR: 3.0%
• Equity multiple: 1.19×
• Total profit: $9,099
• Equity at exit: $15,131

Cash invested: $49,000 (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 34104

• Rents YoY: -1.1%
• Active inventory: 436
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,465 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$250
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $488

Break-even live

Break-even rent $1,847

Max offer price $174,999

Occupancy floor 75%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6726 Sloane Pl Unit 1049716P Naples, FL	3.0	2.0	1872	$5,748	$3.07	14d	1	0.22mi
6643 Craven Hill Way Naples, FL	3.0	2.0	1384	$2,900	$2.10	14d	1	0.35mi
92 Glen Eagle Cir Naples, FL	3.0	2.0	1562	$12,000	$7.68	21d	1	0.47mi
6825 Sterling Greens Dr #102 Naples, FL	3.0	2.0	1499	$4,500	$3.00	23d	1	0.55mi
6871 Sterling Greens Dr #202 Naples, FL	2.0	2.0	1727	$5,500	$3.18	14d	1	0.58mi
6854 Sterling Greens Dr #201 Naples, FL	3.0	2.0	1727	$4,500	$2.61	14d	1	0.58mi
6816 Sterling Greens Dr Unit 1306 Naples, FL	3.0	2.0	1506	$2,900	$1.93	14d	1	0.59mi
6816 Sterling Greens Pl #105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	21d	1	0.59mi
6816 Sterling Greens Dr Unit 1105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	14d	1	0.59mi
6828 Sterling Greens Dr Unit 4105 Naples, FL	2.0	2.0	1242	$3,750	$3.02	14d	1	0.59mi
589 Lambton Ln Naples, FL	3.0	2.0	1823	$7,750	$4.25	23d	1	0.64mi
1499 Vintage Ln Naples, FL	3.0	2.0	1754	$9,000	$5.13	23d	1	0.68mi
697 Crossfield Cir Naples, FL	3.0	2.0	1764	$7,500	$4.25	23d	1	0.68mi
1025 Jardin Dr Naples, FL	3.0	3.0	1756	$5,000	$2.85	13d	1	0.70mi
1507 Vintage Ln Naples, FL	3.0	2.0	1874	$11,000	$5.87	23d	1	0.70mi
613 Windsor Sq #101 Naples, FL	2.0	2.0	1316	$3,800	$2.89	23d	1	0.72mi
443 Dundee Ct Naples, FL	3.0	2.0	1766	$8,000	$4.53	23d	1	0.74mi
565 Windsor Sq #201 Naples, FL	3.0	2.0	1421	$3,800	$2.67	21d	1	0.75mi
914 Marble Dr Naples, FL	3.0	2.0	1715	$15,000	$8.75	14d	1	0.76mi
636 Windsor Sq #102 Naples, FL	2.0	2.0	1191	$3,750	$3.15	23d	1	0.76mi
1526 Vintage Ln Naples, FL	3.0	2.0	1737	$10,000	$5.76	23d	1	0.76mi
800 New Waterford Dr #201 Naples, FL	2.0	2.0	1362	$2,440	$1.79	21d	1	0.77mi
541 Windsor Sq Unit 9 Naples, FL	2.0	2.0	1421	$2,500	$1.76	14d	1	0.77mi
7065 Dennis Cir #302 Naples, FL	2.0	2.0	1097	$4,000	$3.65	21d	1	0.79mi
5110 Brixton Ct Naples, FL	3.0	2.0	1717	$9,500	$5.53	21d	1	0.80mi
193 Fox Glen Dr Naples, FL	3.0	2.0	1345	$6,500	$4.83	23d	1	0.80mi
1051 Eastham Way Unit B104 Naples, FL	2.0	2.0	1091	$4,300	$3.94	14d	1	0.80mi
1106 Jardin Dr Naples, FL	3.0	3.0	1801	$8,500	$4.72	23d	1	0.81mi
930 Marble Dr Naples, FL	3.0	2.0	1850	$9,000	$4.86	21d	1	0.81mi
2026 Terrazzo Ln Naples, FL	3.0	2.0	1856	$9,000	$4.85	23d	1	0.82mi
929 Marble Dr Naples, FL	3.0	2.0	1803	$9,000	$4.99	21d	1	0.82mi
505 Windsor Sq #201 Naples, FL	3.0	2.0	1191	$2,365	$1.99	14d	1	0.83mi
5301 Whitten Dr #81 Naples, FL	3.0	2.0	1386	$2,700	$1.95	23d	1	0.84mi
529 Mardel Dr #311 Naples, FL	2.0	2.0	1093	$3,500	$3.20	23d	1	0.84mi
1100 Eastham Way Unit A-105 Naples, FL	2.0	2.0	1184	$4,500	$3.80	14d	1	0.84mi
6700 Dennis Cir Unit A103 Naples, FL	2.0	2.0	1308	$2,000	$1.53	14d	1	0.85mi
717 Landover Cir #103 Naples, FL	2.0	2.0	1300	$3,800	$2.92	23d	1	0.89mi
915 New Waterford Dr Unit H201 Naples, FL	2.0	2.0	1362	$4,150	$3.05	14d	1	0.90mi
716 Landover Cir #102 Naples, FL	2.0	2.0	1300	$3,200	$2.46	23d	1	0.91mi
1208 Chelmsford Ct #67 Naples, FL	2.0	2.0	1556	$9,000	$5.78	23d	1	0.92mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: pool

Listing history 12 events

1. 2026-06-18
   days on market $174,999 Active 111 DOM
2. 2026-06-17
   days on market $174,999 Active 110 DOM
3. 2026-06-16
   days on market $174,999 Active 109 DOM
4. 2026-06-15
   days on market $174,999 Active 108 DOM
5. 2026-06-14
   days on market $174,999 Active 106 DOM
6. 2026-06-10
   pricedays on market $174,999 Active 103 DOM
7. 2026-06-09
   days on market $178,000 Active 102 DOM
8. 2026-06-08
   days on market $178,000 Active 101 DOM
9. 2026-06-07
   days on market $178,000 Active 100 DOM
10. 2026-06-03
    days on market $178,000 Active 96 DOM
11. 2026-06-03
    remarks 606-char remark
12. 2026-06-03
    listed $178,000 Active 95 DOM

ⓘ 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 5/10 Major FEMA zone X (shaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,577
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,366
• − Management: −$2,366
• − HOA: −$3,000
• − Depreciation: −$5,091
• Taxable income: $3,451
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $5,025/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.

Condition & rehab AI · 6 photos

Average 55/100 Cosmetic rehab

This turnkey manufactured home is ready for immediate occupancy and offers a great value with cosmetic updates that can significantly enhance its appeal.

Repairs flagged

• Minor roof — Light discoloration and minor damage visible
• Minor exterior siding — Slight peeling and discoloration

Value-add opportunities

• Both Paint interior and exterior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping refresh — Improved landscaping can boost both resale and rental value
• Both HVAC maintenance — A clean and functioning HVAC system is crucial for comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Light discoloration and minor damage visible	Minor	$500–3,000
exterior siding · Slight peeling and discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior and exterior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping refresh — Improved landscaping can boost both resale and rental value ↑
• Both HVAC maintenance — A clean and functioning HVAC system is crucial for comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Berkshire Lakes

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): 26,408
• Household income: $71,686
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1423.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 3% Hispanic 2%
• Foreign-born: 30% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · Spanish 24% French/Haitian/Cajun 5% Russian/Polish/Slavic 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: ▼ -252.48%
• Current HPI: 259.3498
• Rent YoY: ▼ -1.10%
• 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

-1.1% since first listed

2 events — show timeline

• 2026-03-24 Price Changed $178,000 NAPLESMLS
• 2026-02-27 Listed $180,000 NAPLESMLS