4518 W Alhambra Cir · Naples, FL 34103

$700,000

4 bd · 0.0 ba · 624 sqft · Other public records · 132 Days on market

Built 1968 8,712 sqft lot

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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 +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CASH COW!! 0% Vacancy or missed payments in 50+ months of ownership! 2020 NEW ROOF! NEW DRAINFIELD! NO HOA! BIKE RIDE TO THE BEACH, MERCATO, WATERSIDE SHOPS, VENETIAN VILLAGE! Right side of this waterfront duplex was completely remodeled including new windows, new cabinets, granite countertops, new bathroom and appliances. Tile throughout both units! Rent both units or live in one side and rent the other side. See confidential comments for more information.

Key facts

• 8,712 sq ft lot
• Built 1968
• Listed 132 days

Property features AI

Finance

• Other: Zoning: RMF-6; Duplex with 2 units; Lot dimensions approx. frontage 72 (other sides: 98, 125, 85); Lot size approx. 0.20 acres; Located in Naples Twin Lakes development
• HOA & community: Non-gated community; No HOA amenities

Exterior

• Utilities: Central water; Septic sewer; Cable available
• Home design: Duplex residential income property; Built in 1968; Concrete block construction; Stucco exterior; Shingle roof
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Built in 1968
• Exterior features: Room for pool; Canal frontage (has waterfront); Canal width: 1-30

Interior

• Flooring: Tile
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath other listed at $700k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $633k (9.5% below list).
• Recommended offer: $616k (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Sea Gate Elementary School (math 86% / reading 81%, grade A+, #60 of 2,144 statewide, top 3%, 703 students, 26% FRL); Pine Ridge Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 832 students, 31% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 32% FRL vs 55% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+14.6%/yr); 481 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $6,332/mo this rent would consume 65% 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 $5k of loan paydown is wiped out by about $21k 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 (-3.0% appreciation + 8.0% rent growth), your $196k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $335k; list at $700k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $616,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 0.90% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 9.2

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: -5.6%
• Equity multiple: 0.78×
• Total profit: $-42,932
• Equity at exit: $104,372

10-year hold

• IRR: 8.9%
• Equity multiple: 1.83×
• Total profit: $162,155
• Equity at exit: $60,523

Cash invested: $196,000 (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: 481
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $6,332 medium
• Mortgage (P&I): −$3,671
• Tax from tax record: −$456 /mo · $5,467/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,330
• Net cashflow: $584

Break-even live

Break-even rent $5,593

Max offer price $700,000

Occupancy floor 86%

Sensitivity live

Price	-10% $980	-5% $782	+0% $584	+5% $386	+10% $188
Rent	-10% $84	-5% $334	+0% $584	+5% $834	+10% $1,084
Rate	-1.0pp $937	-0.5pp $762	base $584	+0.5pp $403	+1.0pp $218

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5934 Premier Way Naples, FL	1.0–3.0	1.0–3.0	1350	$4,882	$3.62	16d	29	0.97mi

Listing history 36 events

1. 2026-06-21
   days on market $700,000 Active 132 DOM
2. 2026-06-18
   days on market $700,000 Active 129 DOM
3. 2026-06-17
   days on market $700,000 Active 128 DOM
4. 2026-06-16
   days on market $700,000 Active 127 DOM
5. 2026-06-15
   days on market $700,000 Active 126 DOM
6. 2026-06-14
   days on market $700,000 Active 124 DOM
7. 2026-06-10
   days on market $700,000 Active 121 DOM
8. 2026-06-09
   days on market $700,000 Active 120 DOM
9. 2026-06-08
   days on market $700,000 Active 119 DOM
10. 2026-06-07
    days on market $700,000 Active 118 DOM
11. 2026-06-03
    days on market $700,000 Active 114 DOM
12. 2026-06-02
    days on market $700,000 Active 113 DOM
13. 2026-06-01
    days on market $700,000 Active 112 DOM
14. 2026-05-31
    days on market $700,000 Active 111 DOM
15. 2026-05-30
    days on market $700,000 Active 110 DOM
16. 2026-02-11
    historical $2,900
17. 2026-02-09
    listed $700,000 Active
18. 2026-01-08
    listed $2,900
19. 2026-01-08
    historical $2,900
20. 2025-12-23
    listed $2,900
21. 2025-12-08
    historical $2,400
22. 2025-12-04
    listed $2,400
23. 2020-09-30
    soldstatus $335,000
24. 2020-09-28
    soldstatus $335,000 Sold 462-char remark

    Show marketing remark (462 chars)

    CASH COW!! 0% Vacancy or missed payments in 50+ months of ownership! 2020 NEW ROOF! NEW DRAINFIELD! NO HOA! BIKE RIDE TO THE BEACH, MERCATO, WATERSIDE SHOPS, VENETIAN VILLAGE! Right side of this waterfront duplex was completely remodeled including new windows, new cabinets, granite countertops, new bathroom and appliances. Tile throughout both units! Rent both units or live in one side and rent the other side. See confidential comments for more information.

25. 2020-09-09
    status Pending 462-char remark

    Show marketing remark (462 chars)

    CASH COW!! 0% Vacancy or missed payments in 50+ months of ownership! 2020 NEW ROOF! NEW DRAINFIELD! NO HOA! BIKE RIDE TO THE BEACH, MERCATO, WATERSIDE SHOPS, VENETIAN VILLAGE! Right side of this waterfront duplex was completely remodeled including new windows, new cabinets, granite countertops, new bathroom and appliances. Tile throughout both units! Rent both units or live in one side and rent the other side. See confidential comments for more information.

26. 2020-08-13
    price $355,000 462-char remark

    Show marketing remark (462 chars)

    CASH COW!! 0% Vacancy or missed payments in 50+ months of ownership! 2020 NEW ROOF! NEW DRAINFIELD! NO HOA! BIKE RIDE TO THE BEACH, MERCATO, WATERSIDE SHOPS, VENETIAN VILLAGE! Right side of this waterfront duplex was completely remodeled including new windows, new cabinets, granite countertops, new bathroom and appliances. Tile throughout both units! Rent both units or live in one side and rent the other side. See confidential comments for more information.

27. 2020-06-26
    listed $375,000 Active 462-char remark

    Show marketing remark (462 chars)

    CASH COW!! 0% Vacancy or missed payments in 50+ months of ownership! 2020 NEW ROOF! NEW DRAINFIELD! NO HOA! BIKE RIDE TO THE BEACH, MERCATO, WATERSIDE SHOPS, VENETIAN VILLAGE! Right side of this waterfront duplex was completely remodeled including new windows, new cabinets, granite countertops, new bathroom and appliances. Tile throughout both units! Rent both units or live in one side and rent the other side. See confidential comments for more information.

28. 2016-03-28
    soldstatus $209,000
29. 2015-11-09
    historical
30. 2015-10-29
    status Active
31. 2015-10-20
    historical
32. 2015-10-16
    price $199,900
33. 2015-10-16
    status Active
34. 2015-09-28
    historical
35. 2015-07-21
    listed $209,000 Active
36. 2002-04-15
    soldstatus $148,000

ⓘ 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: $5,467 · $456/mo
• Projected year-2 tax: $5,810 · $484/mo
• Expected delta: +$343/yr (+$29/mo · 6.3%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $75,982
• − Mortgage interest: −$39,211
• − Property taxes: −$5,467
• − Insurance: −$3,500
• − Repairs & maintenance: −$6,079
• − Management: −$6,079
• − Depreciation: −$20,364
• Taxable loss: −$4,716
• Est. tax savings @ 24.0%: +$1,132
• After-tax cash flow: $8,140/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

• 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

-98.0% since first listed

21 events — show timeline

• 2026-02-11 Rental Removed $2,900 FGCMLS
• 2026-02-09 Listed $700,000 NAPLESMLS
• 2026-01-08 Listed for Rent $2,900 FGCMLS
• 2026-01-08 Rental Removed $2,900 NAPLESMLS
• 2025-12-23 Listed for Rent $2,900 NAPLESMLS
• 2025-12-08 Rental Removed $2,400 NAPLESMLS
• 2025-12-04 Listed for Rent $2,400 NAPLESMLS
• 2020-09-30 Sold (Public Records) $335,000 Public Records
• 2020-09-28 Sold (MLS) $335,000 NAPLESMLS
• 2020-09-09 Pending — NAPLESMLS
• 2020-08-13 Price Changed $355,000 NAPLESMLS
• 2020-06-26 Listed $375,000 NAPLESMLS
• 2016-03-28 Sold (Public Records) $209,000 Public Records
• 2015-11-09 Listing Removed — NAPLESMLS
• 2015-10-29 Relisted — NAPLESMLS
• 2015-10-20 Listing Removed — NAPLESMLS
• 2015-10-16 Price Changed $199,900 NAPLESMLS
• 2015-10-16 Relisted — NAPLESMLS
• 2015-09-28 Listing Removed — NAPLESMLS
• 2015-07-21 Listed $209,000 NAPLESMLS
• 2002-04-15 Sold (Public Records) $148,000 Public Records

Property tax history

+14.9%/yr

Latest (2025): $5,467 · +3.2% YoY. Source: county tax records.