290 Naples Cove Dr #2402 · Bonita Springs, FL 34110

$319,000

2 bd · 2.0 ba · 1,267 sqft · Condo public records · 120 Days on market

Built 1994 $1017/mo HOA · 25% 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 +17.6/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Is an ACTIVE and SOCIAL Lifestyle important to you? Being within minutes to Naples and Bonita BEACHES? Have you always wanted a condo WEST of Hwy 41 in coveted NORTH NAPLES? Are you an INVESTOR looking for a property to generate seasonal/off-season income? If so, YOU NEED TO CHECK THIS ONE OUT! This hidden gem GATED community will keep you as active as you would like to be. Situated less than 3 miles in either direction to Wiggins Pass Beach or Barefoot/Bonita Beaches. You will not want to miss the brand new boardwalk through the estuary and mangroves that leads to a Bird Viewing area and the Fishing/Sunset Pier overlooking the back bay waters of the Gulf. It even comes with expansive kayak

Key facts

• Gated community
• Private kayak launch
• Stunning lake views

Tags

• GATED COMMUNITY
• BIRD VIEWING AREA
• EXPANSIVE KAYAK STORAGE
• PRIVATE KAYAK LAUNCH
• WALKING BIKE PATHS
• STUNNING LAKE VIEWS

Property features AI

Other

• Possession: Available at closing
• Multi-unit info: 40 units in building; 120 units in complex; 4 units per floor; 1 floor in this building section
• Property/lot details: Development: BAY FOREST / NAPLES COVE; Lot unit 2402; Irregular-shaped lot; Paved road access; View of pool/club, preserve, and wooded area; Irrigation via lake/canal; Restrictions: Architectural, Deeded, No Commercial, No Motorcycles, No RV

Finance

• HOA & community: Mandatory HOA (professional management); Quarterly condo fee; Condo fee: $3,050 quarterly; Total annual recurring fees: $12,200; One-time other fee: $50; Total one-time fees: $3,200; HOA maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, master association fee, pest control (interior & exterior), recreation facilities, reserve, security, sewer, street lights, street maintenance, trash removal, and water; Community amenities include clubhouse, community pool, exercise room, library, community room, extra storage, hobby room, internet access, fishing pier, BBQ/picnic area, bike and jog path, sidewalks, streetlights, vehicle wash area, tennis court, pickleball, bocce court, shuffleboard, and trash chute

Exterior

• Parking: Common paved parking
• Security: Gated community; Community security included in HOA
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Mid-rise building (4–7 stories); Rear exposure faces west
• Construction: Concrete block construction; Stucco exterior; Built-up or flat roof; Built in 1994
• Exterior features: Patio; Shutters (manual); Single hung and sliding windows

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator/Icemaker; Breakfast bar; Breakfast room; Dining (living); Eat-in kitchen
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Laundry tub; Pantry; Walk-in closet; Window coverings; Common elevator; Screened lanai/porch; Guest bath; Guest room; Laundry in residence; Furnished
• Laundry & utility: Washer; Dryer; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $319k).
• Recommended offer: $290k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 1.7% in Bonita Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: cost of living C-, health & safety D, amenities 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.
• Zoned schools: Naples Park Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 395 students, 48% FRL); North Naples Middle School (math 79% / reading 73%, grade A, #34 of 571 statewide, top 6%, 903 students, 25% FRL); Gulf Coast High School (math 57% / reading 68%, grade B-, #93 of 667 statewide, top 14%, 2,447 students, 20% FRL) — zoned schools average 31% FRL vs 55% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.1%/yr); 593 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $4,148/mo this rent would consume 51% of the median local household income ($98k/yr) (locally 1006% 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 $10k 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 120 days — a 9% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $112k; list at $319k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• GRM: 6.4

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: -17.0%
• Equity multiple: 0.42×
• Total profit: $-51,653
• Equity at exit: $47,564

10-year hold

• IRR: -19.3%
• Equity multiple: 0.17×
• Total profit: $-74,560
• Equity at exit: $27,581

Cash invested: $89,320 (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 34110

• Rents YoY: -1.1%
• Active inventory: 593
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $4,148 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$206 /mo · $2,467/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,017
• Vacancy / Maint / Mgmt: −$871
• Net cashflow: $182

Break-even live

Break-even rent $3,918

Max offer price $319,000

Occupancy floor 91%

Sensitivity live

Price	-10% $362	-5% $272	+0% $182	+5% $92	+10% $1
Rent	-10% $-146	-5% $18	+0% $182	+5% $346	+10% $510
Rate	-1.0pp $343	-0.5pp $263	base $182	+0.5pp $99	+1.0pp $15

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
285 Naples Cove Dr #1103 Naples, FL	2.0	2.0	1267	$2,475	$1.95	25d	1	0.02mi
270 Naples Cove Dr #3506 Naples, FL	3.0	2.0	1475	$2,500	$1.69	23d	1	0.03mi
290 Naples Cove Dr Naples, FL	2.0	2.0	1327	$3,400	$2.56	25d	3	0.03mi
15191 Cedarwood Ln #2602 Naples, FL	2.0	2.0	1267	$2,300	$1.82	25d	1	0.07mi
15415 Cedarwood Ln Unit 3 Naples, FL	2.0	2.0	1428	$2,200	$1.54	15d	1	0.08mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	25d	3	0.12mi
15400 Cedarwood Ln Unit 1-201 Naples, FL	2.0	2.0	1286	$6,000	$4.67	25d	1	0.12mi
15400 Cedarwood Ln #102 Naples, FL	2.0	2.0	1286	$6,300	$4.90	15d	1	0.12mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	25d	1	0.21mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	25d	1	0.27mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	25d	1	0.30mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	25d	1	0.30mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	25d	1	0.33mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	25d	2	0.47mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	25d	1	0.48mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	25d	1	0.56mi
28940 Bermuda Pointe Cir #102 Bonita Springs, FL	2.0	2.0	1076	$5,500	$5.11	25d	1	0.66mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	25d	1	0.72mi
28720 Bermuda Bay Way #205 Bonita Springs, FL	2.0	2.0	1097	$2,200	$2.01	16d	1	0.78mi
28712 Carmel Way Bonita Springs, FL	3.0	2.5	1626	$9,250	$5.69	25d	1	0.90mi
3930 Windward Passage Cir #202 Bonita Springs, FL	2.0	2.0	1478	$1,900	$1.29	18d	1	0.94mi
999 E Valley Dr Unit 1073522P Bonita Springs, FL	3.0	2.5	1668	$9,929	$5.95	23d	1	0.94mi
265 Barefoot Beach Blvd Bonita Springs, FL	2.0–3.0	2.0	1604	$9,500	$5.92	25d	3	0.95mi
265 Barefoot Beach Blvd #203 Bonita Springs, FL	3.0	2.0	1604	$13,000	$8.10	15d	1	0.95mi
262 Barefoot Beach Blvd Bonita Springs, FL	3.0	2.0–3.0	1864	$10,500	$5.63	25d	2	0.96mi
62 8th St Unit 1073526P Bonita Springs, FL	2.0	2.0	1593	$5,435	$3.41	25d	1	0.97mi
3951 Windward Passage Cir #102 Bonita Springs, FL	2.0	2.0	1397	$5,200	$3.72	25d	1	0.97mi
3941 Leeward Passage Ct #203 Bonita Springs, FL	2.0	2.0	1204	$2,000	$1.66	25d	1	1.04mi
74 7th St Bonita Springs, FL	3.0	2.0	1124	$3,150	$2.80	25d	1	1.04mi
3921 Leeward Passage Ct #203 Bonita Springs, FL	2.0	2.0	1204	$3,500	$2.91	25d	1	1.05mi
28650 Carriage Home Dr Unit 1049692P Bonita Springs, FL	3.0	2.0	1528	$3,980	$2.60	18d	1	1.11mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	15d	1	1.19mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	25d	1	1.19mi
64 4th St Bonita Springs, FL	2.0	2.0	1231	$3,700	$3.01	25d	2	1.19mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	15d	4	1.19mi
28611 Carriage Home Dr #101 Bonita Springs, FL	2.0	2.0	1433	$2,550	$1.78	25d	1	1.20mi
255 Barefoot Beach Blvd Bonita Springs, FL	2.0–3.0	2.0–3.5	1864	$9,700	$5.20	15d	2	1.20mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	25d	1	1.22mi
60 4th St Bonita Springs, FL	3.0	2.0	1860	$11,400	$6.13	25d	1	1.23mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	25d	1	1.23mi

HOA detail condo

• Monthly dues: $1,017 · $12,204/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $319,000 Active 120 DOM
2. 2026-06-18
   days on market $319,000 Active 117 DOM
3. 2026-06-17
   days on market $319,000 Active 116 DOM
4. 2026-06-16
   days on market $319,000 Active 115 DOM
5. 2026-06-15
   days on market $319,000 Active 114 DOM
6. 2026-06-14
   days on market $319,000 Active 112 DOM
7. 2026-06-10
   days on market $319,000 Active 109 DOM
8. 2026-06-09
   days on market $319,000 Active 108 DOM
9. 2026-06-08
   days on market $319,000 Active 107 DOM
10. 2026-06-07
    days on market $319,000 Active 106 DOM
11. 2026-06-03
    days on market $319,000 Active 102 DOM
12. 2026-06-02
    days on market $319,000 Active 101 DOM
13. 2026-06-01
    days on market $319,000 Active 100 DOM
14. 2026-05-31
    days on market $319,000 Active 99 DOM
15. 2026-05-30
    days on market $319,000 Active 98 DOM
16. 2026-04-03
    price $319,000
17. 2026-02-21
    listed $335,000 Active
18. 2000-03-29
    soldstatus $112,000

ⓘ 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: $2,467 · $206/mo
• Projected year-2 tax: $2,648 · $221/mo
• Expected delta: +$181/yr (+$15/mo · 7.3%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 32 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: $49,773
• − Mortgage interest: −$17,869
• − Property taxes: −$2,467
• − Insurance: −$2,392
• − Repairs & maintenance: −$3,982
• − Management: −$3,982
• − HOA: −$12,204
• − Depreciation: −$9,280
• Taxable loss: −$2,403
• Est. tax savings @ 24.0%: +$577
• After-tax cash flow: $2,759/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• City population: 64,727
• Metro: Naples-Marco Island, FL
• Population (ZIP): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+184.8% since first listed

3 events — show timeline

• 2026-04-03 Price Changed $319,000 BEARMLS
• 2026-02-21 Listed $335,000 BEARMLS
• 2000-03-29 Sold (Public Records) $112,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,467 · +58.3% YoY. Source: county tax records.