788 Park Shore Dr Unit E20 · Naples, FL 34103

$494,999

2 bd · 2.0 ba · 1,015 sqft · Condo public records · 82 Days on market

Built 1973 $890/mo HOA · 19% of rent

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Why this score? — see what drove the D 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 +10.7/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the highly sought-after Park Shore neighborhood, Hidden Lake Villas is a low-rise condominium community less than a mile to the beach, shops and restaurants. This beautiful end unit on the 2nd floor has 2 bedrooms and 2 full bathrooms. Featuring an open and bright living room with impact glass sliders and windows for peace of mind. The private screened-in lanai is perfect for enjoying the Florida weather. Enjoy the convenience of additional storage space in the laundry room with washer and dryer. Hidden Lake Villas offers a resort lifestyle with social activities, tennis, pickleball, a 37' x 52' geo-thermal heated pool, gas grills, clubhouse with exercise area, library and function room. Residents can obtain an optional membership to Park Shore Association for private beach access at Raymond Lutgert Park. Located in the heart of charming Naples with easy access to enjoy all that Southwest Florida has to offer. Don't miss this amazing opportunity!

Key facts

• Designer kitchen
• Pop up minibar
• $890 HOA

Tags

• HURRICANE IMPACT DOORS
• DESIGNER KITCHEN
• CUSTOM WALL PANEL ACCENTS
• POP UP MINIBAR
• ITALIAN TILE FLOORING
• FULLY UPDATED BATHROOMS

Property features AI

Finance

• Financial info: No pets allowed
• HOA & community: Homeowners association with quarterly fee; Association covers management, cable TV, insurance, internet, grounds maintenance, pest control and recreation facilities; Community amenities include bike storage, clubhouse, fitness center, library, barbecue/picnic area, pickleball, pool, sidewalks, tennis courts, vehicle wash area and on-site management; Elevator in building; Non-gated community; 240 units in the community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High speed internet available; Underground utilities; Municipal irrigation
• Home design: Single-story; Entry level: 2; Faces north; South exposure
• Construction: Block, concrete and stucco construction; Built-up and flat roof
• Exterior features: Security/high impact doors; Tennis courts; Water feature; Lanai; Porch (screened); Community pool

Interior

• Kitchen: Dishwasher; Electric cooktop; Freezer; Microwave; Refrigerator; Eat-in kitchen; Pantry
• Bedrooms: Guest quarters
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Impact glass windows; Partially furnished; Bidet; Closet cabinetry; Dual sinks; Eat-in kitchen; Pantry; Shower only (separate shower); High speed internet
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $495k.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $442k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $465k (6.1% below list).
• Recommended offer: $442k (10.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 80/100 on livability (#126 in FL, #1,903 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute D+, cost of living 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 rising fast (+14.6%/yr); 479 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $4,646/mo this rent would consume 48% of the median local household income ($117k/yr) (locally 311% 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 $3k of loan paydown is wiped out by about $15k 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 82 days — a 6% lower offer ($465k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $65k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $350k; 41% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $442,039 (10.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.94% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.46×
• Total profit: $-74,342
• Equity at exit: $73,806

10-year hold

• IRR: 2.0%
• Equity multiple: 1.17×
• Total profit: $24,096
• Equity at exit: $42,798

Cash invested: $138,600 (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 34103

• Rents YoY: 14.6%
• Active inventory: 479
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $4,646 medium
• Mortgage (P&I): −$2,596
• Tax from tax record: −$212 /mo · $2,543/yr
• Insurance: −$206
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$890
• Vacancy / Maint / Mgmt: −$976
• Net cashflow: $-300

Break-even live

Break-even rent $5,026

Max offer price $442,039

Occupancy floor —

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
788 Park Shore Dr Naples, FL	1.0–2.0	1.5–2.0	931	$5,500	$5.90	13d	3	0.04mi
3930 Belair Ln Naples, FL	2.0	2.0	1300	$6,000	$4.62	23d	1	0.22mi
3200 Binnacle Dr Unit D3 Naples, FL	2.0	2.0	1180	$9,000	$7.63	21d	1	0.38mi
4092 Belair Ln #15 Naples, FL	3.0	3.0	1500	$6,200	$4.13	23d	1	0.40mi
555 Park Shore Dr Unit B410 Naples, FL	2.0	2.0	1200	$6,000	$5.00	21d	1	0.45mi
3030 Binnacle Dr #201 Naples, FL	2.0	2.0	1092	$5,000	$4.58	23d	1	0.52mi
600 Neapolitan Way Naples, FL	1.0–2.0	2.0	832	$5,200	$6.25	23d	2	0.56mi
820 Ketch Dr #3 Naples, FL	2.0	2.0	1100	$5,500	$5.00	23d	1	0.61mi
820 Ketch Dr #2 Naples, FL	2.0	2.0	1100	$5,700	$5.18	23d	1	0.61mi
3500 Gulf Shore Blvd N Naples, FL	2.0	2.0	1258	$7,650	$6.08	23d	2	0.65mi
45 High Point Cir S #303 Naples, FL	2.0	2.0	1015	$5,500	$5.42	23d	1	0.65mi
3400 Gulf Shore Blvd N Unit M3 Naples, FL	2.0	2.0	1337	$9,500	$7.11	23d	1	0.70mi
4200 Belair Ln Naples, FL	2.0–3.0	2.0	1406	$6,500	$4.62	23d	5	0.70mi
3443 Gulf Shore Blvd N Naples, FL	2.0	2.0	1171	$12,750	$10.88	14d	11	0.77mi
4001 Gulf Shore Blvd N #1104 Naples, FL	2.0	2.0	1267	$11,000	$8.68	23d	1	0.77mi
4001 Gulf Shore Blvd N #707 Naples, FL	2.0	2.0	1267	$20,000	$15.79	23d	1	0.77mi
4001 Gulf Shore Blvd N #803 Naples, FL	2.0	2.0	1267	$13,000	$10.26	23d	1	0.77mi
4001 Gulf Shore Blvd N #303 Naples, FL	2.0	2.0	1248	$9,000	$7.21	23d	1	0.77mi
4001 Gulf Shore Blvd N #505 Naples, FL	2.0	2.0	1271	$9,000	$7.08	14d	1	0.77mi
4001 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1247	$12,000	$9.62	23d	1	0.77mi
4005 Gulf Shore Blvd N #607 Naples, FL	2.0	2.0	1400	$14,000	$10.00	23d	1	0.78mi
4005 Gulf Shore Blvd N #605 Naples, FL	2.0	2.0	1267	$10,000	$7.89	23d	1	0.78mi
1082 Capri Dr Naples, FL	3.0	2.0	1500	$9,000	$6.00	23d	1	0.79mi
4300 Belair Ln Naples, FL	2.0	2.0	1200	$6,750	$5.62	14d	2	0.79mi
3200 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1116	$8,500	$7.62	23d	1	0.80mi
333 Harbour Dr #211 Naples, FL	2.0	2.0	975	$5,500	$5.64	14d	1	0.81mi
3070 Gulf Shore Blvd N #103 Naples, FL	2.0	2.0	1300	$8,000	$6.15	23d	1	0.83mi
4523 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	23d	1	0.90mi
4525 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	23d	1	0.90mi
222 Harbour Dr #105 Naples, FL	2.0	2.0	1393	$13,000	$9.33	23d	1	0.91mi
2885 Gulf Shore Blvd N #302 Naples, FL	2.0	2.0	1500	$20,000	$13.33	23d	1	1.02mi
4560 Gulf Shore Blvd N Unit 3-213 Naples, FL	2.0	2.0	1321	$8,500	$6.43	23d	1	1.02mi
2600 Gulf Shore Blvd N #64 Naples, FL	2.0	2.0	1200	$7,200	$6.00	23d	1	1.13mi
2500 Gulf Shore Blvd N Unit S6 Naples, FL	2.0	2.0	1145	$7,500	$6.55	23d	1	1.15mi
4751 Gulf Shore Blvd N #602 Naples, FL	2.0	2.0	1424	$12,500	$8.78	23d	1	1.22mi
2400 14th St N Naples, FL	3.0	2.0	1464	$5,890	$4.02	14d	1	1.23mi
2216 Gulf Shore Blvd N Unit R3 Naples, FL	2.0	2.0	1265	$10,000	$7.91	23d	1	1.27mi
1400 Pompei Ln Naples, FL	2.0	2.0	1012	$1,888	$1.86	23d	2	1.27mi
2258 Gulf Shore Blvd N Unit O1 Naples, FL	2.0	2.0	1491	$13,750	$9.22	23d	1	1.28mi
1400 Pompei Ln Unit S-21 Naples, FL	2.0	2.0	1025	$3,000	$2.93	23d	1	1.28mi

HOA detail condo

• Monthly dues: $890 · $10,680/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $494,999 Active 82 DOM
2. 2026-06-17
   days on market $494,999 Active 81 DOM
3. 2026-06-16
   days on market $494,999 Active 80 DOM
4. 2026-06-15
   days on market $494,999 Active 79 DOM
5. 2026-06-14
   days on market $494,999 Active 77 DOM
6. 2026-06-10
   days on market $494,999 Active 74 DOM
7. 2026-06-09
   days on market $494,999 Active 73 DOM
8. 2026-06-08
   days on market $494,999 Active 72 DOM
9. 2026-06-07
   pricedays on market $494,999 Active 71 DOM
10. 2026-06-03
    days on market $499,999 Active 67 DOM
11. 2026-06-02
    days on market $499,999 Active 66 DOM
12. 2026-06-01
    days on market $499,999 Active 65 DOM
13. 2026-05-31
    days on market $499,999 Active 64 DOM
14. 2026-05-30
    days on market $499,999 Active 63 DOM
15. 2026-04-28
    price $499,999
16. 2026-04-07
    price $524,900
17. 2026-03-28
    listed $559,900 Active
18. 2024-04-25
    soldstatus $350,000 Sold 971-char remark

    Show marketing remark (971 chars)

    Located in the highly sought-after Park Shore neighborhood, Hidden Lake Villas is a low-rise condominium community less than a mile to the beach, shops and restaurants. This beautiful end unit on the 2nd floor has 2 bedrooms and 2 full bathrooms. Featuring an open and bright living room with impact glass sliders and windows for peace of mind. The private screened-in lanai is perfect for enjoying the Florida weather. Enjoy the convenience of additional storage space in the laundry room with washer and dryer. Hidden Lake Villas offers a resort lifestyle with social activities, tennis, pickleball, a 37' x 52' geo-thermal heated pool, gas grills, clubhouse with exercise area, library and function room. Residents can obtain an optional membership to Park Shore Association for private beach access at Raymond Lutgert Park. Located in the heart of charming Naples with easy access to enjoy all that Southwest Florida has to offer. Don't miss this amazing opportunity!

19. 2024-03-26
    status Pending With Contingencies 971-char remark

    Show marketing remark (971 chars)

    Located in the highly sought-after Park Shore neighborhood, Hidden Lake Villas is a low-rise condominium community less than a mile to the beach, shops and restaurants. This beautiful end unit on the 2nd floor has 2 bedrooms and 2 full bathrooms. Featuring an open and bright living room with impact glass sliders and windows for peace of mind. The private screened-in lanai is perfect for enjoying the Florida weather. Enjoy the convenience of additional storage space in the laundry room with washer and dryer. Hidden Lake Villas offers a resort lifestyle with social activities, tennis, pickleball, a 37' x 52' geo-thermal heated pool, gas grills, clubhouse with exercise area, library and function room. Residents can obtain an optional membership to Park Shore Association for private beach access at Raymond Lutgert Park. Located in the heart of charming Naples with easy access to enjoy all that Southwest Florida has to offer. Don't miss this amazing opportunity!

20. 2024-01-26
    price $369,000 971-char remark

    Show marketing remark (971 chars)

    Located in the highly sought-after Park Shore neighborhood, Hidden Lake Villas is a low-rise condominium community less than a mile to the beach, shops and restaurants. This beautiful end unit on the 2nd floor has 2 bedrooms and 2 full bathrooms. Featuring an open and bright living room with impact glass sliders and windows for peace of mind. The private screened-in lanai is perfect for enjoying the Florida weather. Enjoy the convenience of additional storage space in the laundry room with washer and dryer. Hidden Lake Villas offers a resort lifestyle with social activities, tennis, pickleball, a 37' x 52' geo-thermal heated pool, gas grills, clubhouse with exercise area, library and function room. Residents can obtain an optional membership to Park Shore Association for private beach access at Raymond Lutgert Park. Located in the heart of charming Naples with easy access to enjoy all that Southwest Florida has to offer. Don't miss this amazing opportunity!

21. 2023-11-20
    listed $394,000 Active 971-char remark

    Show marketing remark (971 chars)

    Located in the highly sought-after Park Shore neighborhood, Hidden Lake Villas is a low-rise condominium community less than a mile to the beach, shops and restaurants. This beautiful end unit on the 2nd floor has 2 bedrooms and 2 full bathrooms. Featuring an open and bright living room with impact glass sliders and windows for peace of mind. The private screened-in lanai is perfect for enjoying the Florida weather. Enjoy the convenience of additional storage space in the laundry room with washer and dryer. Hidden Lake Villas offers a resort lifestyle with social activities, tennis, pickleball, a 37' x 52' geo-thermal heated pool, gas grills, clubhouse with exercise area, library and function room. Residents can obtain an optional membership to Park Shore Association for private beach access at Raymond Lutgert Park. Located in the heart of charming Naples with easy access to enjoy all that Southwest Florida has to offer. Don't miss this amazing opportunity!

22. 1990-01-01
    soldstatus $79,500

ⓘ 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: $2,543 · $212/mo
• Projected year-2 tax: $4,108 · $342/mo
• Expected delta: +$1,565/yr (+$130/mo · 61.5%)

ⓘ 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) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $55,757
• − Mortgage interest: −$27,728
• − Property taxes: −$2,543
• − Insurance: −$3,272
• − Repairs & maintenance: −$4,461
• − Management: −$4,461
• − HOA: −$10,680
• − Depreciation: −$14,400
• Taxable loss: −$11,787
• Est. tax savings @ 24.0%: +$2,829
• After-tax cash flow: $-769/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

• Score: 80/100
• State rank: #126
• US rank: #1903

Category grades

Amenities A+ Commute D+ Cost of living F Crime A+ Employment A+ Housing C+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Naples, FL
• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 11,299
• Household income: $116,875
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 311.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Portuguese 2%
• Foreign-born: 13% · Canada
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 2% German/W. Germanic 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: ▼ -327.53%
• Current HPI: 315.1396
• Rent YoY: ▲ 14.55%
• 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

+528.9% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $499,999 FORTMLS
• 2026-04-07 Price Changed $524,900 FORTMLS
• 2026-03-28 Listed $559,900 FORTMLS
• 2024-04-25 Sold (MLS) $350,000 NAPLESMLS
• 2024-03-26 Pending — NAPLESMLS
• 2024-01-26 Price Changed $369,000 NAPLESMLS
• 2023-11-20 Listed $394,000 NAPLESMLS
• 1990-01-01 Sold (Public Records) $79,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,543 · -14.5% YoY. Source: county tax records.