10337 Heritage Bay Blvd #1815 · Heritage Bay, FL 34120

$310,900

2 bd · 2.0 ba · 1,194 sqft · Condo public records · 62 Days on market

Built 2011 $1251/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 +25.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful first-floor turnkey 2-bedroom, 2-bath condo located in the highly sought-after Heritage Bay Golf & Country Club. This well-maintained residence offers a desirable open-concept layout with easy, step-free access—perfect for convenience and comfortable everyday living. The spacious living and dining areas flow seamlessly to a screened lanai, ideal for relaxing and enjoying peaceful preserve or golf course views. The kitchen features ample cabinetry and workspace, making it both functional and inviting. The split-bedroom floor plan provides privacy, with a generously sized primary suite offering an en-suite bath and walk-in closet. The guest bedroom and full bath are perf

Key facts

• $1,251 HOA
• Garage
• Built 2011

Property features AI

Finance

• Other: Part of a large complex with about 1,250 units and 30 units in this building; Unit on a single floor within the building; Possession at closing
• Financial info: Total annual recurring HOA fees listed; Total one-time fees listed
• HOA & community: Mandatory homeowners association; Professional management; Master HOA fee collected annually; Quarterly condo fee; HOA maintenance covers cable, golf course, internet/WiFi, lawn/land maintenance, reserves, security, sewer, trash removal, and water; Community amenities include clubhouse, exercise room, community spa/hot tub, sauna, billiards, extra storage, restaurant, tennis and pickleball courts, putting green, bike storage, and golf course access (golf-bundled community)

Exterior

• Parking: 1 assigned parking space; Detached 1-car carport
• Security: Gated community; Guard at gate
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Mid-rise building (4-7 stories); Built in 2011; Concrete block construction; Rear exposure faces north; Located in Heritage Bay development (Terrace sub-condo)
• Construction: Concrete block construction; Tile roof; Stucco finish; Built in 2011
• Exterior features: Storage space; Double-hung windows; Stucco exterior; Tile roof; Lake view; Lakefront; Central irrigation

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator/Freezer; Pantry
• Bedrooms: 2 bedrooms; Primary bedroom on the first floor; Split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; No dedicated master bath description provided
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; High-speed internet available; Pantry; Dining area combined with living; Common elevator; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $311k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $311k).
• Recommended offer: $292k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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 (-1.6%/yr); 1133 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $5,040/mo this rent would consume 64% of the median local household income ($94k/yr) (locally 409% 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 $9k 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 62 days — a 6% lower offer ($292k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; HOA is 25% of rent.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 $292,246 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.62% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 5.1

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: -8.5%
• Equity multiple: 0.70×
• Total profit: $-25,911
• Equity at exit: $46,356

10-year hold

• IRR: -5.9%
• Equity multiple: 0.69×
• Total profit: $-26,809
• Equity at exit: $26,881

Cash invested: $87,052 (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 34120

• Rents YoY: -1.6%
• Active inventory: 1133
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $5,040 high
• Mortgage (P&I): −$1,630
• Tax from tax record: −$215 /mo · $2,585/yr
• Insurance: −$130
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$1,251
• Vacancy / Maint / Mgmt: −$1,058
• Net cashflow: $603

Break-even live

Break-even rent $4,276

Max offer price $310,900

Occupancy floor 83%

Sensitivity live

Price	-10% $779	-5% $691	+0% $603	+5% $515	+10% $427
Rent	-10% $205	-5% $404	+0% $603	+5% $802	+10% $1,001
Rate	-1.0pp $760	-0.5pp $682	base $603	+0.5pp $522	+1.0pp $440

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: $77,725
• Closing costs: $9,327
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10337 Heritage Bay Blvd Naples, FL	2.0	2.0	1213	$4,400	$3.63	24d	4	0.02mi
10333 Heritage Bay Blvd #1715 Naples, FL	2.0	2.0	1194	$6,000	$5.03	24d	1	0.07mi
10338 Heritage Bay Blvd #2514 Naples, FL	2.0	2.0	1414	$2,500	$1.77	24d	1	0.07mi
10330 Heritage Bay Blvd #2626 Naples, FL	2.0	2.0	1414	$6,900	$4.88	24d	1	0.09mi
10345 Heritage Bay Blvd Naples, FL	2.0	2.0	1232	$4,425	$3.59	15d	2	0.09mi
10329 Heritage Bay Blvd #1622 Naples, FL	2.0	2.0	1232	$5,500	$4.46	24d	1	0.11mi
10349 Heritage Bay Blvd #2117 Naples, FL	2.0	2.0	1232	$2,300	$1.87	15d	1	0.13mi
10321 Heritage Bay Blvd Naples, FL	2.0–3.0	2.0	1301	$5,400	$4.15	24d	3	0.15mi
10321 Heritage Bay Blvd Naples, FL	2.0–3.0	2.0	1320	$6,500	$4.92	22d	2	0.15mi
10307 Heritage Bay Blvd Naples, FL	2.0	2.0	1194	$2,800	$2.35	15d	1	0.17mi
10353 Heritage Bay Blvd #2226 Naples, FL	2.0	2.0	1232	$6,500	$5.28	15d	1	0.17mi
10353 Heritage Bay Blvd #2226 Naples, FL	2.0	2.0	1232	$6,500	$5.28	24d	1	0.17mi
10317 Heritage Bay Blvd #1416 Naples, FL	2.0	2.0	1232	$7,000	$5.68	24d	1	0.18mi
10313 Heritage Bay Blvd #1342 Naples, FL	2.0	2.0	1232	$6,500	$5.28	24d	1	0.20mi
10270 Heritage Bay Blvd #3422 Naples, FL	2.0	2.0	1414	$6,500	$4.60	24d	1	0.40mi
10275 Heritage Bay Blvd Naples, FL	2.0	2.0	1301	$4,500	$3.46	24d	2	0.42mi
10044 Siesta Bay Dr #9412 Naples, FL	2.0	2.0	1414	$2,500	$1.77	24d	1	1.28mi

HOA detail condo

• Monthly dues: $1,251 · $15,012/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $310,900 Active 62 DOM
2. 2026-06-18
   days on market $310,900 Active 59 DOM
3. 2026-06-17
   days on market $310,900 Active 58 DOM
4. 2026-06-16
   days on market $310,900 Active 57 DOM
5. 2026-06-15
   days on market $310,900 Active 56 DOM
6. 2026-06-14
   days on market $310,900 Active 54 DOM
7. 2026-06-10
   days on market $310,900 Active 51 DOM
8. 2026-06-09
   days on market $310,900 Active 50 DOM
9. 2026-06-08
   days on market $310,900 Active 49 DOM
10. 2026-06-07
    days on market $310,900 Active 48 DOM
11. 2026-06-03
    days on market $310,900 Active 44 DOM
12. 2026-06-02
    days on market $310,900 Active 43 DOM
13. 2026-06-01
    days on market $310,900 Active 42 DOM
14. 2026-05-31
    days on market $310,900 Active 41 DOM
15. 2026-05-30
    days on market $310,900 Active 40 DOM
16. 2026-04-20
    listed $310,900 Active

ⓘ 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: $2,585 · $215/mo
• Projected year-2 tax: $2,585 · $215/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,477
• − Mortgage interest: −$17,415
• − Property taxes: −$2,585
• − Insurance: −$3,379
• − Repairs & maintenance: −$4,838
• − Management: −$4,838
• − HOA: −$15,012
• − Depreciation: −$9,044
• Taxable income: $3,365
• Est. tax owed @ 24.0%: −$808
• After-tax cash flow: $6,428/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 — Heritage Bay

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

Census & demographics

• Census place: Heritage Bay, FL
• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 42,345
• Household income: $93,861
• Rent vs Own: 9.4% rent · 90.6% own
• Severe rent burden: 409.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Hispanic / Latino 32% Two or more races 23% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 13%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 62% English-only · Spanish 28% French/Haitian/Cajun 5% Other Indo-European 3%

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: ▼ -223.18%
• Current HPI: 316.2474
• Rent YoY: ▼ -1.65%
• 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

• 2026-04-20 Listed $310,900 NAPLESMLS

Property tax history

+5.6%/yr

Latest (2025): $2,585 · +2.7% YoY. Source: county tax records.