637 Squire Ct · Berkshire Lakes, FL 34104

$220,000

3 bd · 2.0 ba · 1,450 sqft · Other · 5 Days on market

Built 1990 Fair condition

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +2.5/5.0
• Rent growth +2.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

It is being sold as is, will accept all offers at the is time. three bedroom, two bath, laundry room, screened lanai, large closets, needs updating in sum repair, which is while I & acirc; & euro; & trade; m accepting all offers. Centrally located near shoppings in major throughways. Lots of amenities, including pools, basketball courts, tennis courts clubhouse walking trails. 239-595-6213.

Key facts

• Laundry room
• Centrally located
• Screened lanai

Tags

• LAUNDRY ROOM
• SCREENED LANAI
• LARGE CLOSETS
• CENTRALLY LOCATED
• POOLS
• BASKETBALL COURTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $220k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).

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 soft (-1.1%/yr); 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,192/mo this rent would consume 53% of the median local household income ($72k/yr) (locally 1423% 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 $7k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.45% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• GRM: 5.7

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-8,084
• Equity at exit: $32,803

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $5,210
• Equity at exit: $19,022

Cash invested: $61,600 (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 34104

• Rents YoY: -1.1%
• Active inventory: 436
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $3,192 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $575

Break-even live

Break-even rent $2,464

Max offer price $220,000

Occupancy floor 77%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
661 Squire Cir #101 Naples, FL	3.0	2.0	1450	$2,095	$1.44	14d	1	0.09mi
716 Landover Cir #102 Naples, FL	2.0	2.0	1300	$3,200	$2.46	23d	1	0.15mi
717 Landover Cir #103 Naples, FL	2.0	2.0	1300	$3,800	$2.92	23d	1	0.16mi
505 Windsor Sq #201 Naples, FL	3.0	2.0	1191	$2,365	$1.99	14d	1	0.19mi
1200 Commonwealth Cir #103 Naples, FL	2.0	2.0	1245	$1,875	$1.51	14d	1	0.23mi
915 New Waterford Dr Unit H201 Naples, FL	2.0	2.0	1362	$4,150	$3.05	14d	1	0.24mi
541 Windsor Sq Unit 9 Naples, FL	2.0	2.0	1421	$2,500	$1.76	14d	1	0.24mi
529 Mardel Dr #311 Naples, FL	2.0	2.0	1093	$3,500	$3.20	23d	1	0.25mi
1220 Commonwealth Cir Unit M106 Naples, FL	2.0	2.0	1245	$2,100	$1.69	23d	1	0.26mi
565 Windsor Sq #201 Naples, FL	3.0	2.0	1421	$3,800	$2.67	21d	1	0.26mi
636 Windsor Sq #102 Naples, FL	2.0	2.0	1191	$3,750	$3.15	23d	1	0.28mi
322 Melrose Pl #31 Naples, FL	2.0	2.0	1757	$4,500	$2.56	23d	1	0.28mi
1357 Churchill Cir Unit G202 Naples, FL	2.0	2.0	1200	$1,995	$1.66	14d	1	0.30mi
613 Windsor Sq #101 Naples, FL	2.0	2.0	1316	$3,800	$2.89	23d	1	0.31mi
333 Wentworth Ct Naples, FL	3.0	2.0	1807	$7,000	$3.87	23d	1	0.31mi
1228 Commonwealth Cir Unit O203 Naples, FL	2.0	2.0	1245	$2,100	$1.69	14d	1	0.33mi
800 New Waterford Dr #201 Naples, FL	2.0	2.0	1362	$2,440	$1.79	21d	1	0.33mi
1392 Churchill Cir Unit O101 Naples, FL	3.0	2.0	1350	$2,300	$1.70	14d	1	0.33mi
1448 Churchill Cir #103 Naples, FL	2.0	2.0	1200	$1,900	$1.58	14d	1	0.37mi
191 Bennington Dr Unit 12-6 Naples, FL	2.0	2.0	1240	$1,450	$1.17	23d	1	0.40mi
242 Belville Blvd Naples, FL	3.0	2.0	1875	$9,000	$4.80	21d	1	0.40mi
1130 Partridge Cir Ofc Season Naples, FL	2.0	2.0	1191	$1,800	$1.51	23d	1	0.45mi
1130 Partridge Cir Unit Annual Naples, FL	2.0	2.0	1191	$1,950	$1.64	23d	1	0.45mi
1130 Partridge Cir #102 Naples, FL	2.0	2.0	1191	$3,800	$3.19	23d	1	0.45mi
1095 Partridge Cir #201 Naples, FL	2.0	2.0	1402	$1,800	$1.28	21d	1	0.48mi
1600 Wellesley Cir Naples, FL	1.0–2.0	1.0–2.0	950	$1,900	$2.00	14d	12	0.50mi
920 Belville Blvd Naples, FL	3.0	2.0	1606	$6,000	$3.74	23d	1	0.57mi
589 Lambton Ln Naples, FL	3.0	2.0	1823	$7,750	$4.25	23d	1	0.59mi
7832 Meridan Ct Naples, FL	2.0	2.0	1567	$4,500	$2.87	23d	1	0.64mi
7753 Haverhill Ct Naples, FL	2.0	2.0	1840	$2,800	$1.52	23d	1	0.64mi
6643 Craven Hill Way Naples, FL	3.0	2.0	1384	$2,900	$2.10	14d	1	0.67mi
7790 Woodbrook Cir #2603 Naples, FL	3.0	2.5	1406	$4,500	$3.20	23d	1	0.70mi
3536 Winifred Row Ln Naples, FL	3.0	2.5	1300	$2,350	$1.81	14d	10	0.70mi
92 Glen Eagle Cir Naples, FL	3.0	2.0	1562	$12,000	$7.68	21d	1	0.81mi
6726 Sloane Pl Unit 1049716P Naples, FL	3.0	2.0	1872	$5,748	$3.07	14d	1	0.83mi
7320 Glenmoor Ln Unit 2206 Naples, FL	2.0	2.0	1053	$6,000	$5.70	14d	1	0.85mi
484 Belina Dr Naples, FL	2.0	1.0	1200	$2,400	$2.00	23d	1	0.86mi
6871 Sterling Greens Dr #202 Naples, FL	2.0	2.0	1727	$5,500	$3.18	14d	1	0.88mi
388 Belina Dr Unit 1104 Naples, FL	2.0	2.0	1200	$4,000	$3.33	14d	1	0.89mi
108 Santa Clara Dr #4 Naples, FL	2.0	2.0	974	$1,950	$2.00	14d	1	0.89mi

Listing history 5 events

1. 2026-06-18
   days on market $220,000 Active 5 DOM
2. 2026-06-17
   days on market $220,000 Active 4 DOM
3. 2026-06-16
   days on market $220,000 Active 3 DOM
4. 2026-06-15
   remarks 393-char remark
5. 2026-06-15
   listed $220,000 Active 2 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 AE · 23% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $38,305
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$6,218
• − Repairs & maintenance: −$3,064
• − Management: −$3,064
• − Depreciation: −$6,400
• Taxable income: $3,934
• Est. tax owed @ 24.0%: −$944
• After-tax cash flow: $5,954/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 · 2 photos

Fair 45/100 Moderate rehab

The property is in fair condition with some exterior and interior updates needed. Painting and landscaping improvements can significantly enhance its value for both resale and rental.

Repairs flagged

• Moderate exterior siding — The siding shows some discoloration and wear, indicating a need for repainting or replacement.
• Moderate interior updates — The listing mentions repairs and updates, suggesting the interior may need work.
• Moderate system updates — The listing mentions repairs and updates, suggesting the systems may need work.

Value-add opportunities

• Both painting the exterior and interior — Painting can improve the curb appeal and interior aesthetics, enhancing both resale and rental value.
• Both landscaping and curb appeal improvements — A well-maintained and aesthetically pleasing exterior can attract more buyers and renters, increasing both resale and rental value.
• Both interior updates — Updating the interior can make the home more attractive to potential buyers and renters, increasing both resale and rental value.
• Both system updates — Updating the systems can improve the home's functionality and energy efficiency, making it more attractive to buyers and renters, increasing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding shows some discoloration and wear, indicating a need for repainting or replacement.	Moderate	$3,000–15,000
interior updates · The listing mentions repairs and updates, suggesting the interior may need work.	Moderate	$3,000–15,000
system updates · The listing mentions repairs and updates, suggesting the systems may need work.	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both painting the exterior and interior — Painting can improve the curb appeal and interior aesthetics, enhancing both resale and rental value. ↑
• Both landscaping and curb appeal improvements — A well-maintained and aesthetically pleasing exterior can attract more buyers and renters, increasing both resale and rental value. ↑
• Both interior updates — Updating the interior can make the home more attractive to potential buyers and renters, increasing both resale and rental value. ↑
• Both system updates — Updating the systems can improve the home's functionality and energy efficiency, making it more attractive to buyers and renters, increasing both 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 — Berkshire Lakes

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

Census & demographics

• Census place: Berkshire Lakes, FL
• County: Collier County · 396,295 people
• City population: 34,872
• 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 event — show timeline

• 2026-06-14 Listed $220,000 FSBO.com