7800 Emerald Cir Unit B102 · Pelican Marsh, FL 34109

$265,000

2 bd · 2.0 ba · 1,022 sqft · Condo · 187 Days on market

Built 1991 Fair condition $470/mo HOA · 14% of rent ↓ 7% since listing

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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 +20.3/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Located in the Villages of Emerald Lakes, this first-floor unit offers a beautiful lake view with colorful sunset skies. The home needs extensive updating, providing a great opportunity to renovate and make it your own. A 10×11 screened lanai overlooks the water, perfect for enjoying the peaceful setting. Covered parking with an included carport adds convenience. Community amenities include clubhouse, tennis, pickleball, bocce and basketball courts, a picnic area, and sidewalks throughout the neighborhood. Walking distance to restaurants and shops.

Key facts

• Covered parking
• Walking distance
• Community amenities

Tags

• LAKE VIEW
• SCREENED LANAI
• COVERED PARKING
• COMMUNITY AMENITIES
• WALKING DISTANCE

Property features AI

Finance

• Other: Part of an 8-unit complex; 1 unit per floor; single-story building
• HOA & community: Mandatory HOA with professional management; Quarterly condo fee; Annual recurring fees total $5,640; One-time fees total $2,650; HOA maintenance covers irrigation water, legal/accounting, manager, master association fee, recreation facilities, reserves, and water; Community amenities include clubhouse, community pool, exercise room, tennis court, pickleball, basketball, bike/jog path, play area, billiards, sidewalks

Exterior

• Parking: 1 assigned parking space; Guest parking available; Detached 1-car carport
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden apartment in a low-rise (1-3) building; Rear exposure facing west; Located in Emerald Lakes development
• Construction: Concrete block construction; Stucco exterior; Tile roof; Built in 1991
• Exterior features: Patio; Lake view; Lakefront; Central irrigation

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Foyer; Smoke detectors; Screened lanai/porch; Split bedroom floor plan; Dining area combined with living and eat-in kitchen
• Laundry & utility: Washer and dryer in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $265k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% 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.
• Zoned schools: Pelican Marsh Elementary School (math 87% / reading 83%, grade A+, #35 of 2,144 statewide, top 2%, 709 students, 29% FRL); Pine Ridge Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 832 students, 31% FRL); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL) — zoned schools average 29% FRL vs 55% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 74% at this address vs 58% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 425 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 43% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $781 appreciation (0.3% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 0.9% rent growth), your $74k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.26% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.15×
• Total profit: $10,995
• Equity at exit: $80,878

10-year hold

• IRR: 6.5%
• Equity multiple: 1.68×
• Total profit: $50,746
• Equity at exit: $100,414

Cash invested: $74,200 (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 34109

• Home prices YoY: 0.1%
• Rents YoY: 0.9%
• Active inventory: 425
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $3,342 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$470
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $339

Break-even live

Break-even rent $2,913

Max offer price $265,000

Occupancy floor 85%

Sensitivity live

Price	-10% $522	-5% $430	+0% $339	+5% $247	+10% $155
Rent	-10% $75	-5% $207	+0% $339	+5% $471	+10% $603
Rate	-1.0pp $472	-0.5pp $406	base $339	+0.5pp $270	+1.0pp $200

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7794 Emerald Cir Unit A-102 Naples, FL	2.0	2.0	1022	$4,000	$3.91	15d	1	0.02mi
7800 Emerald Cir Unit B104 Naples, FL	2.0	2.0	1022	$2,200	$2.15	15d	1	0.02mi
7800 Emerald Cir #104 Naples, FL	2.0	2.0	1022	$2,200	$2.15	22d	1	0.02mi
7778 Emerald Cir #104 Naples, FL	3.0	2.0	1199	$2,300	$1.92	22d	1	0.07mi
7778 Emerald Cir #204 Naples, FL	3.0	2.0	1199	$6,750	$5.63	15d	1	0.07mi
7791 Esmeralda Way #203 Naples, FL	2.0	2.0	1022	$1,950	$1.91	15d	1	0.11mi
7546 Mill Pond Cir Naples, FL	3.0	2.0	1373	$6,500	$4.73	25d	1	0.11mi
7754 Emerald Cir Unit T202 Naples, FL	2.0	2.0	1022	$3,850	$3.77	15d	1	0.14mi
7712 Jewel Ln Naples, FL	2.0	2.0	1022	$1,850	$1.81	25d	1	0.21mi
7750 Jewel Ln #103 Naples, FL	2.0	2.0	1102	$2,100	$1.91	15d	1	0.23mi
7750 Jewel Ln #101 Naples, FL	3.0	2.0	1199	$2,400	$2.00	22d	1	0.23mi
7756 Jewel Ln #102 Naples, FL	2.0	2.0	1022	$3,700	$3.62	25d	1	0.24mi
7719 Jewel Ln #103 Naples, FL	2.0	2.0	1022	$3,800	$3.72	25d	1	0.24mi
7707 Jewel Ln #201 Naples, FL	3.0	2.0	1199	$2,900	$2.42	25d	1	0.25mi
7774 Jewel Ln #201 Naples, FL	3.0	2.0	1299	$2,800	$2.16	25d	1	0.29mi
7287 Mill Pond Cir Naples, FL	3.0	2.0	1355	$3,800	$2.80	25d	1	0.41mi
2608 Sailors Way #122 Naples, FL	2.0	2.0	1387	$5,500	$3.97	25d	1	0.43mi
2460 Old Groves Rd Unit E102 Naples, FL	2.0	2.0	1226	$2,400	$1.96	15d	1	0.48mi
7416 Plumbago Bridge Rd #103 Naples, FL	2.0	2.0	1223	$2,400	$1.96	15d	1	0.51mi
2651 Citrus Lake Dr Unit D302 Naples, FL	2.0	2.0	1250	$5,000	$4.00	15d	1	0.57mi
2671 Citrus Lake Dr Unit E-303 Naples, FL	2.0	2.0	1380	$3,500	$2.54	15d	1	0.59mi
2671 Citrus Lake Dr Unit E-201 Naples, FL	3.0	2.0	1380	$5,250	$3.80	15d	1	0.59mi
2711 Citrus Lake Dr Unit F305 Naples, FL	3.0	2.0	1480	$5,500	$3.72	15d	1	0.63mi
2711 Citrus Lake Dr Unit F302 Naples, FL	2.0	2.0	1272	$4,500	$3.54	15d	1	0.63mi
7518 Silver Trumpet Ln Unit Q102 Naples, FL	2.0	2.0	1300	$2,600	$2.00	15d	1	0.66mi
2731 Citrus Lake Dr #202 Naples, FL	2.0	2.0	1260	$2,500	$1.98	15d	1	0.66mi
2516 Orchid Bay Dr #203 Naples, FL	2.0	2.0	1360	$4,750	$3.49	25d	1	0.67mi
2864 Mizzen Way Unit Y106 Naples, FL	2.0	2.0	1350	$5,200	$3.85	15d	1	0.74mi
2585 Old Groves Rd Unit L203 Naples, FL	2.0	2.0	1448	$5,500	$3.80	15d	1	0.75mi
2885 Citrus Lake Dr Unit N103 Naples, FL	2.0	2.0	1249	$5,250	$4.20	15d	1	0.79mi
6914 Satinleaf Rd N #103 Naples, FL	2.0	2.0	1404	$6,200	$4.42	25d	1	0.80mi
2277 Arbour Walk Cir Naples, FL	1.0–2.0	1.0–2.0	937	$2,540	$2.71	15d	25	0.88mi
2118 Arbour Walk Cir Naples, FL	1.0	1.0	750	$1,300	$1.73	25d	1	0.92mi
3051 Horizon Ln #1803 Naples, FL	2.0	2.0	1482	$5,100	$3.44	25d	1	0.92mi
2058 Arbour Walk Cir #3322 Naples, FL	2.0	2.0	918	$2,000	$2.18	25d	1	0.93mi
2226 Arbour Walk Cir #1913 Naples, FL	1.0	1.0	740	$1,475	$1.99	25d	1	0.93mi
3035 Horizon Ln #2206 Naples, FL	2.0	2.0	1246	$6,000	$4.82	25d	1	0.94mi
6934 Rain Lily Ct #103 Naples, FL	2.0	2.0	1282	$5,200	$4.06	25d	1	0.94mi
6934 Rain Lily Ct #102 Naples, FL	2.0	2.0	1282	$4,500	$3.51	25d	1	0.94mi
2130 Arbour Walk Cir #2724 Naples, FL	2.0	2.0	1022	$1,800	$1.76	25d	1	0.94mi

HOA detail condo

• Monthly dues: $470 · $5,640/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-21
   days on market $265,000 Active 187 DOM
2. 2026-06-18
   days on market $265,000 Active 184 DOM
3. 2026-06-17
   days on market $265,000 Active 183 DOM
4. 2026-06-16
   days on market $265,000 Active 182 DOM
5. 2026-06-15
   days on market $265,000 Active 181 DOM
6. 2026-06-10
   days on market $265,000 Active 176 DOM
7. 2026-06-09
   days on market $265,000 Active 175 DOM
8. 2026-06-08
   days on market $265,000 Active 174 DOM
9. 2026-06-07
   days on market $265,000 Active 173 DOM
10. 2026-06-03
    days on market $265,000 Active 169 DOM
11. 2026-06-03
    remarks 554-char remark
12. 2026-06-03
    listed $265,000 Active 168 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 4/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 24 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: $40,100
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,208
• − Management: −$3,208
• − HOA: −$5,640
• − Depreciation: −$7,709
• Taxable income: $191
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $4,017/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 · 13 photos

Fair 45/100 Extensive rehab

This townhouse requires extensive updates to its kitchen and bathroom, but the exterior and landscaping are in good condition. Painting and replacing countertops and vanity would significantly increase its resale value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear on the cabinets
• Major Bathroom wallpaper — Worn and peeling wallpaper
• Minor Kitchen countertops — Some stains and scratches
• Minor Bathroom vanity — Small and outdated

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value
• Resale Replace kitchen countertops — New countertops can improve the kitchen's functionality and aesthetic appeal
• Resale Replace bathroom vanity — A new vanity can enhance the bathroom's functionality and appearance
• Resale Replace bathroom wallpaper — Fresh, updated wallpaper can significantly improve the bathroom's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear on the cabinets	Minor	$500–3,000
Bathroom wallpaper · Worn and peeling wallpaper	Major	$15,000–50,000
Kitchen countertops · Some stains and scratches	Minor	$500–3,000
Bathroom vanity · Small and outdated	Minor	$500–3,000
Total estimated repair cost · 4 items		$16,500–59,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Resale Replace kitchen countertops — New countertops can improve the kitchen's functionality and aesthetic appeal ↑
• Resale Replace bathroom vanity — A new vanity can enhance the bathroom's functionality and appearance ↑
• Resale Replace bathroom wallpaper — Fresh, updated wallpaper can significantly improve the bathroom's appearance and 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 — Pelican Marsh

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

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 27,273
• Household income: $92,259
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1712.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 9% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 5% Russian/Polish/Slavic 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: ▲ 0.29%
• Current HPI: 279.357
• Rent YoY: ▲ 0.92%
• 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

-7.0% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $265,000 NAPLESMLS
• 2026-03-30 Price Changed $275,000 NAPLESMLS
• 2025-12-16 Listed $285,000 NAPLESMLS