200 Palm Dr Unit 43-7 · Naples, FL 34112

$159,900

2 bd · 2.0 ba · 1,010 sqft · Condo · 1041 Days on market

Built 1973 $1053/mo HOA · 34% of rent ↓ 36% 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 +22.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

One of the best price condos in the Glades!! Great Investment property! Beautifully renovated first floor Contemporary model in the Glades Golf & Country Club. This 2 bedroom, 2 bath condo features updated bathrooms and kitchen, newer flooring, New washer and dryer in residence, newer moldings and doors throughout. Newer AC unit, Hot Water Heater 2026. Condo is turnkey. As an owner in the Glades Golf & Country Club you can play golf everyday on two golf courses - The Pines a par 70 course and the Palmetto a par 55 course, other amenities include, 9 swimming pools, tennis courts, pickleball courts, Pro shop, 19th Hole restaurant, and Clubhouse with many special activities through

Key facts

• $1,053 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Part of a large complex with many units and low-rise buildings; Subdivision/Condominium: Glades / Glades Country Club; Property restrictions: Deeded, No Commercial, No RV
• Financial info: Total annual recurring HOA fees reported; Total one-time HOA fees reported
• HOA & community: Mandatory HOA with professional management; Monthly HOA fee; HOA covers cable, golf course, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, pest control (exterior and interior), repairs, reserves, sewer, street maintenance, trash removal, and water; Community amenities include clubhouse, community pool and room, golf course (golf-bundled), bocce court, pickleball, putting green, restaurant, shuffleboard, tennis courts, library, and vehicle wash area; Community type: Non-gated, golf course community

Exterior

• Parking: Common parking
• Security: Patrolled community; Impact resistant doors and windows
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Garden apartment in a low-rise (1-3) building; Rear exposure faces southeast; Zero lot line
• Construction: Concrete block construction; Stucco exterior; Built-up/flat and shingle roof; Double-hung windows; Year built 1973
• Exterior features: Patio

Interior

• Kitchen: Pantry; Dishwasher; Microwave; Refrigerator/Freezer
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: High-speed internet available; Pantry; Smoke detectors; Turnkey furnished; Split bedrooms floor plan; Screened lanai/porch
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (13.7% below list).
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $138k (13.7% below list) — sets the bar for cash-flow.

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: Shadowlawn Elementary School (math 44% / reading 40%, grade F, #1,403 of 2,144 statewide, top 67%, 457 students, 72% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL).
• Zoned-school proficiency averages 41% at this address vs 58% district-wide (-17 pts) — the specific schools serving this property underperform the Collier average; the district grade overstates school quality for this exact location.
• 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 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,080/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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 1041 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $90k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 34% of rent.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,048 (13.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 1041 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
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: 1.93% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• GRM: 4.3

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: -31.5%
• Equity multiple: 0.03×
• Total profit: $-43,600
• Equity at exit: $23,842

10-year hold

• IRR: —
• Equity multiple: -0.82×
• Total profit: $-81,357
• Equity at exit: $13,825

Cash invested: $44,772 (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 34112

• Rents YoY: -1.7%
• Active inventory: 771
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $3,080 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,053
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $-151

Break-even live

Break-even rent $3,272

Max offer price $138,048

Occupancy floor 100%

Sensitivity live

Price	-10% $-41	-5% $-96	+0% $-151	+5% $-206	+10% $-262
Rent	-10% $-394	-5% $-273	+0% $-151	+5% $-29	+10% $92
Rate	-1.0pp $-70	-0.5pp $-110	base $-151	+0.5pp $-192	+1.0pp $-235

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Palm Dr #7 Naples, FL	2.0	2.0	1010	$1,600	$1.58	14d	1	0.01mi
216 Palm Dr #5 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.05mi
190 Palm Dr Unit 3085 Naples, FL	2.0	2.0	1251	$1,850	$1.48	14d	1	0.05mi
209 Palm Dr #1 Naples, FL	2.0	2.0	1215	$5,000	$4.12	14d	1	0.07mi
232 Palm Dr Unit 47-5 Naples, FL	2.0	2.0	1010	$2,500	$2.48	24d	1	0.08mi
229 Palm Dr Unit 229-2 Naples, FL	2.0	2.0	1215	$4,400	$3.62	14d	1	0.10mi
240 Palm Dr Unit 48-1 Naples, FL	2.0	2.0	1100	$1,800	$1.64	24d	1	0.10mi
239 Palm Dr #2 Naples, FL	2.0	2.0	1215	$4,000	$3.29	14d	1	0.11mi
256 Palm Dr #6 Naples, FL	2.0	2.0	1010	$4,500	$4.46	14d	1	0.14mi
154 Palm Dr Unit 1049699P Naples, FL	2.0	2.0	1248	$2,732	$2.19	21d	1	0.14mi
131 Teryl Rd Unit C3 Naples, FL	2.0	2.0	1080	$3,495	$3.24	24d	1	0.16mi
131 Teryl Rd Unit 3UNIT 3 Naples, FL	2.0	2.0	1080	$1,750	$1.62	14d	1	0.16mi
149 Palm Dr Unit 8617 Naples, FL	2.0	2.0	981	$2,000	$2.04	14d	1	0.17mi
265 Palm Dr Unit 265-2 Naples, FL	2.0	2.0	1215	$1,499	$1.23	14d	1	0.18mi
135 Palm Dr #12 Naples, FL	2.0	2.0	1180	$2,200	$1.86	14d	1	0.19mi
159 Teryl Rd #2 Naples, FL	2.0	2.0	1080	$5,200	$4.81	14d	1	0.19mi
146 Lollypop Ln #851 Naples, FL	2.0	2.0	1335	$3,750	$2.81	24d	1	0.20mi
195 Peppermint Ln Unit 884 Naples, FL	2.0	2.0	1335	$3,800	$2.85	14d	1	0.22mi
202 Peppermint Ln #2 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.22mi
195 Peppermint Ln Unit 4 Naples, FL	2.0	2.0	1335	$2,500	$1.87	24d	1	0.22mi
195 Peppermint Ln #2 Naples, FL	2.0	2.0	1198	$2,600	$2.17	14d	1	0.22mi
195 Peppermint Ln Unit 881 Naples, FL	2.0	2.0	1335	$5,000	$3.75	14d	1	0.22mi
162 Teryl Rd Unit 6-2 Naples, FL	2.0	2.0	1188	$2,500	$2.10	24d	1	0.22mi
306 Palm Dr #2 Naples, FL	2.0	2.0	1270	$5,200	$4.09	24d	1	0.23mi
348 Tern Dr Unit 4 Naples, FL	2.0	2.0	1270	$5,000	$3.94	24d	1	0.34mi
348 Tern Dr #2 Naples, FL	2.0	2.0	1270	$1,800	$1.42	14d	1	0.34mi
3350 Putney Ct Naples, FL	1.0–3.0	1.0–2.0	1038	$2,986	$2.88	14d	26	0.38mi
364 Tern Dr #4 Naples, FL	2.0	2.0	1264	$1,800	$1.42	14d	1	0.39mi
2155 Great Blue Dr Naples, FL	1.0–3.0	1.0–2.0	895	$1,910	$2.13	14d	43	0.41mi
581 Teryl Rd #5 Naples, FL	2.0	2.0	1403	$4,500	$3.21	14d	1	0.42mi
432 Teryl Rd Unit 1546319P Naples, FL	2.0	2.0	1496	$1,561	$1.04	14d	1	0.42mi
3005 Gordon St Naples, FL	3.0	2.0	967	$2,275	$2.35	14d	1	0.45mi
3005 Gordon St Naples, FL	3.0	2.0	967	$2,275	$2.35	24d	1	0.45mi
96 Glades Blvd Unit 513 Naples, FL	2.0	2.0	1370	$4,500	$3.28	14d	1	0.46mi
83 Glades Blvd #3 Naples, FL	2.0	2.0	1204	$5,200	$4.32	14d	1	0.54mi
4472 Beechwood Lake Dr Naples, FL	3.0	2.0	1352	$3,050	$2.26	24d	1	0.55mi
3608 Arctic Cir #514 Naples, FL	2.0	2.0	1250	$4,200	$3.36	24d	1	0.57mi
2347 Bayside St Apt B Naples, FL	2.0	1.0	864	$1,595	$1.85	14d	1	0.58mi
3676 Arctic Cir #112 Naples, FL	2.0	2.0	1246	$2,700	$2.17	21d	1	0.61mi
3618 Arctic Cir #3618 Naples, FL	2.0	2.0	1200	$3,450	$2.88	24d	1	0.61mi

HOA detail condo

• Monthly dues: $1,053 · $12,636/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $159,900 Active 1041 DOM
2. 2026-06-17
   days on market $159,900 Active 1040 DOM
3. 2026-06-16
   days on market $159,900 Active 1039 DOM
4. 2026-06-15
   days on market $159,900 Active 1038 DOM
5. 2026-06-10
   days on market $159,900 Active 1033 DOM
6. 2026-06-09
   days on market $159,900 Active 1032 DOM
7. 2026-06-08
   days on market $159,900 Active 1031 DOM
8. 2026-06-07
   days on market $159,900 Active 1030 DOM
9. 2026-06-02
   days on market $159,900 Active 1025 DOM
10. 2026-06-01
    days on market $159,900 Active 1024 DOM
11. 2026-05-31
    days on market $159,900 Active 1023 DOM
12. 2026-05-30
    days on market $159,900 Active 1022 DOM
13. 2026-05-06
    price $159,900
14. 2026-01-24
    price $179,000
15. 2026-01-05
    price $189,000
16. 2025-02-19
    price $199,000
17. 2024-09-09
    price $208,000
18. 2024-04-13
    price $225,000
19. 2024-04-13
    status Active
20. 2023-11-08
    status Pending With Contingencies
21. 2023-03-08
    listed $249,900 Active

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,966
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$5,918
• − Repairs & maintenance: −$2,957
• − Management: −$2,957
• − HOA: −$12,636
• − Depreciation: −$4,652
• Taxable loss: −$3,510
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $-970/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): 27,193
• Household income: $69,842
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 980.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 9% Black 6% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 4% Romanian 3% Portuguese 2%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▼ -235.10%
• Current HPI: 256.9182
• Rent YoY: ▼ -1.69%
• 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

-36.0% since first listed

9 events — show timeline

• 2026-05-06 Price Changed $159,900 NAPLESMLS
• 2026-01-24 Price Changed $179,000 NAPLESMLS
• 2026-01-05 Price Changed $189,000 NAPLESMLS
• 2025-02-19 Price Changed $199,000 NAPLESMLS
• 2024-09-09 Price Changed $208,000 NAPLESMLS
• 2024-04-13 Price Changed $225,000 NAPLESMLS
• 2024-04-13 Relisted — NAPLESMLS
• 2023-11-08 Pending — NAPLESMLS
• 2023-03-08 Listed $249,900 NAPLESMLS