14 Pearl Dr Unit 14P · Winding Cypress, FL 34114

$79,000

1 bd · 2.0 ba · 561 sqft · Manufactured · 208 Days on market

Built 1981 Good condition ↓ 13% since listing

---

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
• Appreciation +4.3/10.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0

Listing remarks

Welcome to Enchanting Shores, a boating community where you enjoy the Florida lifestyle without the high fees. This inviting 1-bedroom, 2-bath home offers a cozy retreat in one of Naples’ most popular 55+ boating communities. Recent upgrades include a new AC (2023) and ductwork (2024). Step inside to find wood-style flooring, a versatile Florida room with its own bath and laundry, and a kitchen with white cabinetry. Community amenities abound: * Heated pool, clubhouse & social room * Tennis, pickleball, shuffleboard, bocce & billiards * Boat ramp with indirect Gulf access via Henderson Creek * Hobby room, library, and more * Located minutes from Naples and Mar

Key facts

• Recent upgrades
• Clubhouse
• Florida room

Tags

• RECENT UPGRADES
• WOOD STYLE FLOORING
• FLORIDA ROOM
• WHITE CABINETRY
• HEATED POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Has waterfront access with gulf access via bridges; boat ramp and water available at dock (see remarks for details); Canal width listed as 1–30; Lot is in section 11, unit 14-P; total area listed as 641
• Financial info: 365 units in the community; this is a single-unit property in a one-floor building
• HOA & community: Community is boating- and mobile/manufactured-friendly, non-gated; On-site management; Community amenities include clubhouse, community pool, community boat dock and ramp, community gulf boat access, boat storage, fish cleaning station, vehicle wash area, basketball, tennis, pickleball, bocce, shuffleboard, billiards, library, hobby room, BBQ/picnic area and community room; HOA covers internet/WiFi access, laundry facilities, lawn/land maintenance, legal/accounting, manager, recreation facilities, reserves, sewer, street lights, street maintenance, trash removal and water; Total annual recurring fees: $2,000; One-time fees: $250

Exterior

• Parking: Paved parking
• Security: Manual shutters for storm protection
• Utilities: Central water; Central sewer; Electric service (central); Cable available
• Home design: Residential manufactured home; Manufactured building design; 1 story (Ranch); Rear exposure faces north; Located in the Enchanting Shores community
• Construction: Manufactured construction; Built in 1981; Vinyl siding exterior; Roof over
• Exterior features: Patio; Exterior storage; Single-hung windows; Manual storm shutters; Vinyl siding; Roof over

Interior

• Kitchen: Range; Microwave; Refrigerator/Freezer; Pantry
• Bedrooms: 1 bedroom
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Cable available
• Interior features: Cable prewire and high-speed internet available; Laundry tub; Pantry; Window coverings; Partially furnished; 2 ceiling fans
• Laundry & utility: Washer; Dryer; Laundry tub

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath manufactured listed at $79k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $70k (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; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $546 of loan paydown is wiped out by about $1k 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($70k) 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; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 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. 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: 2.45% ✓
• Cap rate: 21.25%
• Cash-on-cash: 53.44%
• DSCR: 3.38
• GRM: 3.4

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: 28.5%
• Equity multiple: 2.29×
• Total profit: $28,623
• Equity at exit: $17,263

10-year hold

• IRR: 34.3%
• Equity multiple: 4.54×
• Total profit: $78,320
• Equity at exit: $16,629

Cash invested: $22,120 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,938 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $558

Break-even live

Break-even rent $1,231

Max offer price $79,000

Occupancy floor 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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Rookery Bay Dr Naples, FL	1.0–3.0	1.0–2.0	929	$1,525	$1.64	23d	9	0.73mi

Listing history 11 events

1. 2026-06-18
   days on market $79,000 Active 208 DOM
2. 2026-06-17
   days on market $79,000 Active 207 DOM
3. 2026-06-16
   days on market $79,000 Active 206 DOM
4. 2026-06-15
   days on market $79,000 Active 205 DOM
5. 2026-06-10
   days on market $79,000 Active 200 DOM
6. 2026-06-09
   days on market $79,000 Active 199 DOM
7. 2026-06-08
   days on market $79,000 Active 198 DOM
8. 2026-06-07
   days on market $79,000 Active 197 DOM
9. 2026-06-03
   days on market $79,000 Active 193 DOM
10. 2026-06-03
    remarks 685-char remark
11. 2026-06-03
    listed $79,000 Active 192 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 29 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: $23,255
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$5,514
• − Repairs & maintenance: −$1,860
• − Management: −$1,860
• − Depreciation: −$2,298
• Taxable income: $6,112
• Est. tax owed @ 24.0%: −$1,467
• After-tax cash flow: $5,234/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 · 13 photos

Good 75/100 Cosmetic rehab

This 1-bedroom, 2-bath manufactured home in Enchanting Shores is in good condition with recent HVAC upgrades and a well-maintained exterior. Fresh paint on the exterior siding and upgrading the flooring would further enhance its value.

Value-add opportunities

• Resale Paint the exterior siding — Fresh paint can significantly improve the home's curb appeal and resale value
• Both Upgrade the flooring — Replacing worn-out flooring with a more modern or higher-quality material can enhance both the home's resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Fresh paint can significantly improve the home's curb appeal and resale value ↑
• Both Upgrade the flooring — Replacing worn-out flooring with a more modern or higher-quality material can enhance both the home's resale and rental value ↑

ⓘ 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 — Winding Cypress

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

-12.7% since first listed

3 events — show timeline

• 2026-02-22 Price Changed $79,000 NAPLESMLS
• 2026-02-04 Price Changed $88,000 NAPLESMLS
• 2025-11-23 Listed $90,500 NAPLESMLS