5 Monaco Ter

Lely, FL 34112

$319,900D+

2 bd · 2.0 ba · 1,520 sqft · Built 2006 · Manufactured · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,069/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$740
• HOA: −$132
• Vac / Maint / Mgmt: −$644
• Net cashflow: $-125/mo
• Annual: $-1,505/yr
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• 1% rule: 0.96%
• Cash to close: $89,572

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $320k.
• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (4.1% below list).
• It's been on market 58 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $298k (6.9% below list) — sets the bar for cash-flow.
• 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.
• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D+, 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.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-1.7%/yr); 771 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $70k; list at $320k implies a 357% gain — meaningful room to come down on a strong offer.
• 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,069/mo this rent would consume 53% of the median local household income ($70k/yr) (locally 980% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.