10188 Regent Cir #2802 · Pelican Marsh, FL 34109

$299,900

2 bd · 2.0 ba · 1,262 sqft · Condo public records · 194 Days on market

Built 1992 $544/mo HOA · 18% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• DSCR +4.6/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Here's your opportunity to own your own villa in sought-after Regent Park with an incredible location and great amenities. This attached villa is bright and sunny and opens up to a beautiful courtyard and private pool for the complex. Two bedrooms and a flexible den, kitchen with sunny breakfast area, open living area, and relaxing screened lanai. Private Master Suite looks on to the sunny courtyard and opens to the lanai. Included are a covered parking spot, extra storage and a grilling station right outside your lanai! Regent Park amenities include the wonderful community pool just steps away down the street, tennis courts, basketball, a beautiful lake for sunsets, sidewalks throughout th

Key facts

• Beautiful lake
• Private pool
• Community pool

Tags

• PRIVATE POOL
• SCREENED LANAI
• COMMUNITY POOL
• TENNIS COURTS
• BASKETBALL
• BEAUTIFUL LAKE

Property features AI

Finance

• Other: One unit per floor; 1-floor building; 304 units in the complex; 6 units in the building; Total annual recurring fees reported
• HOA & community: Mandatory HOA; Quarterly HOA fee of $1,550; Annual master HOA fee of $335; Professional management; Community amenities include community pool, tennis courts, basketball, BBQ/picnic area, sidewalks, streetlights, vehicle wash area, internet access; HOA maintenance covers irrigation water, lawn/land maintenance, pest control (exterior), sewer, street maintenance, street lights, trash removal, legal/accounting, manager, recreation facilities, and reserves; Non-gated community

Exterior

• Parking: One assigned covered parking space; Deeded parking; Detached 1-car carport; Guest parking; Paved parking
• Utilities: Central water; Central sewer; Cable available
• Home design: Attached villa (traditional style); Single-story; Rear exposure faces west
• Construction: Concrete block construction; Built in 1992
• Exterior features: Shingle roof; Stucco exterior finish; Single-hung and sliding windows; Landscaped area view; Pool/club view; Irrigation from lake/canal

Interior

• Kitchen: Pantry; Electric cooktop; Range; Self-cleaning oven; Microwave; Dishwasher; Garbage disposal; Refrigerator/ice maker; Grill (gas)
• Bedrooms: 2 bedrooms plus a den; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Cable pre-wired; Fire sprinkler system; High-speed internet available; Laundry tub; Smoke detectors; Vaulted ceiling; Walk-in closet(s); Window coverings; Den (study); Great room; Screened lanai/porch; Furnished; Five ceiling fans
• Laundry & utility: Washer and dryer included; Washer/dryer hookups; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $264k (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: Pelican Marsh Elementary School (math 87% / reading 83%, grade A+, #35 of 2,144 statewide, top 2%, 709 students, 29% FRL); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL) — zoned schools average 28% FRL vs 55% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 75% at this address vs 58% district-wide (+17 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 flat; 425 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 39% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $884 appreciation (0.3% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.94×
• Total profit: $-4,847
• Equity at exit: $91,530

10-year hold

• IRR: 2.7%
• Equity multiple: 1.28×
• Total profit: $23,637
• Equity at exit: $113,639

Cash invested: $83,972 (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 34109

• Home prices YoY: 0.1%
• Rents YoY: 0.9%
• Active inventory: 425
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,032 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$63 /mo · $759/yr
• Insurance: −$125
• HOA: −$544
• Vacancy / Maint / Mgmt: −$637
• Net cashflow: $91

Break-even live

Break-even rent $2,918

Max offer price $299,900

Occupancy floor 92%

Sensitivity live

Price	-10% $260	-5% $176	+0% $91	+5% $6	+10% $-79
Rent	-10% $-149	-5% $-29	+0% $91	+5% $210	+10% $330
Rate	-1.0pp $242	-0.5pp $167	base $91	+0.5pp $13	+1.0pp $-66

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10805 Queen Anne Ln #203 Naples, FL	2.0	2.0	1252	$4,800	$3.83	24d	1	0.12mi
4635 Saint Croix Ln #1214 Naples, FL	2.0	2.0	913	$1,900	$2.08	15d	1	0.23mi
4610 Saint Croix Ln #1027 Naples, FL	3.0	2.0	1196	$4,000	$3.34	24d	1	0.26mi
4620 Saint Croix Ln Naples, FL	2.0	2.0	982	$1,800	$1.83	15d	2	0.27mi
300 Diamond Cir #302 Naples, FL	3.0	2.0	1755	$2,600	$1.48	24d	1	0.28mi
4650 Saint Croix Ln #725 Naples, FL	2.0	2.0	913	$2,150	$2.35	15d	1	0.29mi
600 Diamond Cir #607 Naples, FL	2.0	2.0	1680	$4,800	$2.86	24d	1	0.30mi
4720 Saint Croix Ln #137 Naples, FL	2.0	2.0	1200	$2,200	$1.83	24d	1	0.30mi
700 Diamond Cir #706 Naples, FL	3.0	2.0	1786	$2,700	$1.51	24d	1	0.31mi
98 Chardon Pl Unit 1073520P Naples, FL	3.0	2.0	1646	$5,886	$3.58	15d	1	0.33mi
194 Wickliffe Dr Naples, FL	3.0	2.0	1798	$3,500	$1.95	24d	1	0.34mi
4680 Saint Croix Ln #512 Naples, FL	3.0	2.0	1196	$2,490	$2.08	24d	1	0.34mi
4680 Saint Croix Ln Naples, FL	1.0–3.0	1.0–2.0	931	$2,000	$2.15	15d	2	0.35mi
4710 Saint Croix Ln #217 Naples, FL	2.0	2.0	1045	$2,200	$2.11	24d	1	0.36mi
81 Wickliffe Dr Unit 1073563P Naples, FL	3.0	2.0	1496	$4,681	$3.13	15d	1	0.43mi
4945 Cougar Ct S #105 Naples, FL	2.0	2.0	1377	$2,750	$2.00	15d	1	0.54mi
4940 Cougar Ct S Unit 1545947P Naples, FL	2.0	2.0	1367	$2,185	$1.60	15d	1	0.55mi
4910 Cougar Ct N Unit 1-205 Naples, FL	2.0	2.0	1377	$2,050	$1.49	15d	1	0.56mi
4965 Sandra Bay Dr #102 Naples, FL	2.0	2.0	1377	$2,200	$1.60	15d	1	0.56mi
5000 Immokalee Rd Naples, FL	1.0–3.0	1.0–2.0	1115	$3,186	$2.86	15d	68	0.61mi
2345 Carrington Ct Unit 6-102 Naples, FL	2.0	2.0	1213	$1,850	$1.53	24d	1	0.63mi
124 Cypress Way E Unit E5 Naples, FL	2.0	2.0	1390	$2,000	$1.44	24d	1	0.65mi
2385 Naples Trace Cir #2 Naples, FL	2.0	2.0	1000	$1,900	$1.90	24d	1	0.66mi
4950 Deerfield Way #202 Naples, FL	2.0	2.0	1388	$2,000	$1.44	22d	1	0.67mi
110 Cypress Way E Unit F5 Naples, FL	2.0	2.0	1390	$1,750	$1.26	24d	1	0.67mi
2325 Carrington Ct #104 Naples, FL	2.0	2.0	1215	$7,500	$6.17	15d	1	0.68mi
2325 Carrington Ct #202 Naples, FL	2.0	2.0	1200	$8,000	$6.67	15d	1	0.68mi
2290 Carrington Ct #202 Naples, FL	2.0	2.0	1183	$7,500	$6.34	24d	1	0.68mi
5145 Cobble Creek Ct #202 Naples, FL	2.0	2.0	1798	$2,600	$1.45	22d	1	0.68mi
4960 Deerfield Way Unit E102 Naples, FL	2.0	2.0	1202	$4,250	$3.54	15d	1	0.69mi
4910 Deerfield Way #103 Naples, FL	2.0	2.0	1200	$4,800	$4.00	22d	1	0.70mi
4910 Deerfield Way Unit A-203 Naples, FL	2.0	2.0	1388	$5,500	$3.96	15d	1	0.70mi
2295 Carrington Ct Unit 1-104 Naples, FL	2.0	2.0	1215	$7,500	$6.17	24d	1	0.71mi
2295 Carrington Ct Unit 1-101 Naples, FL	2.0	2.0	1300	$2,000	$1.54	24d	1	0.71mi
2365 Harmony Ln #104 Naples, FL	2.0	2.0	1592	$7,500	$4.71	24d	1	0.72mi
144 Cypress Way E Unit 701 Naples, FL	2.0	2.0	1064	$1,900	$1.79	15d	1	0.72mi
208 Erie Dr Unit 1355591P Naples, FL	3.0	2.0	1754	$5,550	$3.16	15d	1	0.72mi
4970 Deerfield Way Unit F-203 Naples, FL	2.0	2.0	1388	$1,990	$1.43	15d	1	0.72mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.5	1202	$3,510	$2.92	24d	1	0.75mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.0	1202	$1,590	$1.32	15d	1	0.75mi

HOA detail condo

• Monthly dues: $544 · $6,528/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-31
   days on market $299,900 Active 194 DOM
2. 2026-05-30
   days on market $299,900 Active 193 DOM
3. 2026-05-03
   price $299,900
4. 2026-04-10
   price $320,000
5. 2025-11-30
   historical
6. 2025-11-18
   listed $349,900 Active
7. 2025-06-07
   listed $365,000 Active
8. 2005-02-03
   soldstatus $225,000
9. 1992-12-31
   soldstatus $77,500

ⓘ 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: $759 · $63/mo
• Projected year-2 tax: $2,489 · $207/mo
• Expected delta: +$1,730/yr (+$144/mo · 227.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 16% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $36,389
• − Mortgage interest: −$16,799
• − Property taxes: −$759
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,911
• − Management: −$2,911
• − HOA: −$6,528
• − Depreciation: −$8,724
• Taxable loss: −$3,744
• Est. tax savings @ 24.0%: +$898
• After-tax cash flow: $1,986/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 — Pelican Marsh

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): 27,273
• Household income: $92,259
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1712.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 9% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 5% Russian/Polish/Slavic 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: ▲ 0.29%
• Current HPI: 279.357
• Rent YoY: ▲ 0.92%
• 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

+287.0% since first listed

7 events — show timeline

• 2026-05-03 Price Changed $299,900 NAPLESMLS
• 2026-04-10 Price Changed $320,000 NAPLESMLS
• 2025-11-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-18 Listed $349,900 NAPLESMLS
• 2025-06-07 Listed $365,000 Stellar MLS as Distributed by MLS Grid
• 2005-02-03 Sold (Public Records) $225,000 Public Records
• 1992-12-31 Sold (Public Records) $77,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $759 · +3.0% YoY. Source: county tax records.