585 Club Side Dr Unit 3-104 · Naples Park, FL 34110

$385,000

3 bd · 2.0 ba · 1,485 sqft · Condo · 207 Days on market

Built 1997 $1046/mo HOA · 20% 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 +18.4/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully renovated first floor condo at the desirable Wiggins Bay Community, in Bermuda Cove. Just minutes from the pristine sands of Delnor-Wiggins and Vanderbilt Beach. This spacious residence features three bedrooms and two bathrooms. Step inside to discover a modern coastal interior showcasing elegant finishes, updated flooring, kitchen and baths and plantation shutters that enhance the natural light on the east side of the home. Every detail has been thoughtfully updated, offering a turnkey retreat for year-round living or seasonal escape. Enjoy peace of mind with new community roofs, fresh exterior paint and low HOA fees, plus NO flood concerns-this home has remaine

Key facts

• Covered carport
• Plantation shutters
• Updated flooring

Tags

• RENOVATED FIRST FLOOR CONDO
• MODERN COASTAL INTERIOR
• UPDATED FLOORING
• PLANTATION SHUTTERS
• FRESH EXTERIOR PAINT
• COVERED CARPORT

Property features AI

Finance

• Other: Belongs to development WIGGINS BAY / Sub-condo BERMUDA COVE; Restrictions: Architectural, No Commercial, No RV
• Financial info: Total annual recurring fees $12,553; Total one-time fees $150
• HOA & community: Mandatory HOA; Professional management; Master HOA fee $1,869 annually; Condo fee $2,671 quarterly; Maintenance covers cable, insurance, internet/Wi-Fi, irrigation water, lawn/land maintenance, pest control (exterior), sewer, street lights, street maintenance, trash removal, water, reserve, fidelity bond, legal/accounting, manager; Amenities include BBQ/picnic, community room, community spa/hot tub, private membership, tennis, streetlights; see remarks for details; Community types: Boating, Gated, Tennis

Exterior

• Parking: 1 assigned parking space; Common covered parking; Paved driveway; Guest parking; Load space; Detached 1-car carport
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Carriage/coach, end unit; Low-rise building (1-3 stories); Rear exposure facing west; Built in 1997
• Construction: Concrete block construction; Stucco exterior; Tile roof
• Exterior features: Deck; Impact-resistant doors; Impact-resistant windows; Single-hung windows; Corner lot; Landscaped view; Central irrigation

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator/Freezer; Pantry
• Bedrooms: 3 bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Fire sprinkler system; Pantry; Den/Study; Guest bath; Guest room; Home office; Screened lanai/porch; Split-bedroom floor plan; Common elevator
• Laundry & utility: Washer; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $385k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $385k).
• Recommended offer: $339k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#696 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, employment B+; Watch: health & safety D, schools F, 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.
• Market conditions: Rents soft (-1.1%/yr); 595 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $5,150/mo this rent would consume 63% of the median local household income ($98k/yr) (locally 1006% 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 $3k of loan paydown is wiped out by about $12k 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 207 days — a 12% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 20% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.34% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 6.2

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: -15.7%
• Equity multiple: 0.46×
• Total profit: $-57,911
• Equity at exit: $57,405

10-year hold

• IRR: -16.8%
• Equity multiple: 0.24×
• Total profit: $-81,443
• Equity at exit: $33,288

Cash invested: $107,800 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $5,150 high
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,046
• Vacancy / Maint / Mgmt: −$1,081
• Net cashflow: $295

Break-even live

Break-even rent $4,776

Max offer price $385,000

Occupancy floor 89%

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	23d	1	0.07mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	13d	4	0.10mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	23d	1	0.15mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	23d	1	0.19mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	23d	1	0.21mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	23d	1	0.21mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	23d	1	0.24mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	23d	1	0.24mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	23d	1	0.25mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	23d	1	0.28mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	23d	1	0.30mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	23d	1	0.35mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	23d	1	0.41mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	23d	1	0.42mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	13d	1	0.42mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	21d	1	0.44mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	23d	2	0.45mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	13d	1	0.46mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	21d	1	0.46mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	13d	1	0.49mi
12945 Vanderbilt Dr Naples, FL	2.0	2.0	1301	$5,250	$4.04	23d	2	0.49mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	23d	1	0.53mi
1282 Belaire Ct Naples, FL	3.0	3.5	1495	$9,500	$6.35	23d	1	0.56mi
1337 Center Ln Naples, FL	3.0	2.0	1500	$4,300	$2.87	23d	1	0.58mi
1284 Rainbow Ct Naples, FL	2.0	2.0	1572	$4,200	$2.67	21d	1	0.59mi
1296 Grand Canal Dr Naples, FL	3.0	2.0	1614	$8,000	$4.96	23d	1	0.59mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	23d	1	0.69mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	13d	1	0.72mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	23d	1	0.72mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	13d	1	0.75mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.76mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$5,500	$3.13	23d	2	0.84mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	23d	1	0.88mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	23d	1	0.90mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	23d	1	0.90mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	23d	1	0.99mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	23d	1	1.01mi
1120 Sarah Jean Cir Unit B205 Naples, FL	3.0	2.0	1370	$2,300	$1.68	13d	1	1.03mi
953 Bunker Hill Dr Naples, FL	2.0	2.0	1100	$3,200	$2.91	13d	1	1.06mi
1150 Yesica Ann Cir Unit A205 Naples, FL	2.0	2.0	1300	$6,000	$4.62	13d	1	1.09mi

HOA detail condo

• Monthly dues: $1,046 · $12,552/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-31
   days on market $385,000 Active 207 DOM
2. 2026-05-30
   days on market $385,000 Active 206 DOM
3. 2025-11-05
   listed $385,000 Active
4. 2021-03-30
   historical
5. 2021-01-01
   listed $330,000 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 X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,798
• − Mortgage interest: −$21,566
• − Property taxes: −$5,775
• − Insurance: −$2,722
• − Repairs & maintenance: −$4,944
• − Management: −$4,944
• − HOA: −$12,552
• − Depreciation: −$11,200
• Taxable loss: −$1,905
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $4,001/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 Park

• Score: 64/100
• State rank: #696
• US rank: #14564

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment B+ Housing A- Health & safety D User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+16.7% since first listed

3 events — show timeline

• 2025-11-05 Listed $385,000 NAPLESMLS
• 2021-03-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-01-01 Listed $330,000 Stellar MLS as Distributed by MLS Grid