355 Bay Forest Dr Unit 3A · Bonita Springs, FL 34110

$345,000

2 bd · 2.0 ba · 1,287 sqft · Condo public records · 153 Days on market

Built 1988 $654/mo HOA · 15% 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 +23.8/30.0
• 1% rule +8.1/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TWO BEDROOM TWO BATH SINGLE FLOOR VILLA HOME WITH SINGLE CAR GARAGE. BRIGHT AND SUNNY WITH SKYLIGHTS. MASTER HAS LARGE WALK-IN CLOSET. EAT-IN KITCHEN WITH A TON OF CABINET SPACE. GUEST BEDROOM HAS PRIVATE LANI AREA LARGE SCREENED LANAI OFF LIVING ROOM AND MASTER BEDROOM WITH VIEW OF THE LAKE. SEPERATE LAUNDRY ROOM WITH WASHER AND DRYER.

Key facts

• Lake views
• Screened lanai
• Eat-in kitchen

Tags

• LAKE VIEWS
• EAT-IN KITCHEN
• LARGE WALK-IN CLOSET
• PRIVATE LANAI
• SCREENED LANAI
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Financial info: Total annual recurring HOA fees reported; Total one-time fees reported
• HOA & community: Mandatory HOA with quarterly fee; HOA covers irrigation water, lawn/land maintenance, pest control (exterior), trash removal, street maintenance, reserve, legal/accounting, and master association fee; Community amenities include clubhouse, exercise room, library, bike/jog path, tennis, pickleball, bocce, shuffleboard, sidewalks and streetlights; Resident management; Gated community

Exterior

• Parking: Common parking and paved driveway; Attached garage with 1 garage space
• Security: Gated community; Exterior shutters (including electric)
• Utilities: Central water; Central sewer; Cable available
• Home design: Attached villa (1 story, ranch/Spanish style); Zero lot line; Rear exposure faces north; Residential property in Bay Forest (Las Vistas)
• Construction: Concrete block construction; Stucco exterior; Tile roof; Built in 1988
• Exterior features: Patio; Privacy wall; Lake view; Central irrigation; Paved road access

Interior

• Kitchen: Pantry; Dishwasher; Range; Disposal; Refrigerator/Freezer
• Bedrooms: 2 bedrooms with split bedroom floor plan
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Primary bathroom with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Built-in cabinets; Cable prewire; Cathedral ceiling; High-speed internet available; Pantry; Dining area combined with living; Eat-in kitchen; Open porch/lanai; Screened lanai/porch; Partially furnished
• Laundry & utility: Laundry in residence; Washer/dryer hookup; Auto garage door opener

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $345k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $345k).
• Recommended offer: $304k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 1.7% in Bonita Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• 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 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).
• At $4,503/mo this rent would consume 55% 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 $2k of loan paydown is wiped out by about $10k 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 153 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $295k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $303,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.31% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 6.4

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: -7.7%
• Equity multiple: 0.73×
• Total profit: $-26,559
• Equity at exit: $51,441

10-year hold

• IRR: -3.4%
• Equity multiple: 0.81×
• Total profit: $-18,285
• Equity at exit: $29,829

Cash invested: $96,600 (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: 6.4×

Monthly cashflow live

• Estimated rent: $4,503 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$288 /mo · $3,460/yr
• Insurance: −$144
• HOA: −$654
• Vacancy / Maint / Mgmt: −$946
• Net cashflow: $662

Break-even live

Break-even rent $3,665

Max offer price $345,000

Occupancy floor 80%

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15400 Cedarwood Ln #102 Naples, FL	2.0	2.0	1286	$6,300	$4.90	13d	1	0.13mi
15400 Cedarwood Ln Unit 1-201 Naples, FL	2.0	2.0	1286	$6,000	$4.67	23d	1	0.13mi
290 Naples Cove Dr Naples, FL	2.0	2.0	1327	$3,400	$2.56	23d	3	0.19mi
285 Naples Cove Dr #1103 Naples, FL	2.0	2.0	1267	$2,475	$1.95	23d	1	0.19mi
15191 Cedarwood Ln #2602 Naples, FL	2.0	2.0	1267	$2,300	$1.82	23d	1	0.22mi
270 Naples Cove Dr #3506 Naples, FL	3.0	2.0	1475	$2,500	$1.69	21d	1	0.23mi
15415 Cedarwood Ln Unit 3 Naples, FL	2.0	2.0	1428	$2,200	$1.54	13d	1	0.23mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	23d	1	0.26mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	23d	3	0.26mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	23d	1	0.32mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	23d	1	0.32mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	23d	1	0.32mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	23d	1	0.40mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.42mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	23d	1	0.50mi
28940 Bermuda Pointe Cir #102 Bonita Springs, FL	2.0	2.0	1076	$5,500	$5.11	23d	1	0.53mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	23d	2	0.57mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	23d	1	0.60mi
28720 Bermuda Bay Way #205 Bonita Springs, FL	2.0	2.0	1097	$2,200	$2.01	14d	1	0.66mi
28712 Carmel Way Bonita Springs, FL	3.0	2.5	1626	$9,250	$5.69	23d	1	0.76mi
3930 Windward Passage Cir #202 Bonita Springs, FL	2.0	2.0	1478	$1,900	$1.29	15d	1	0.82mi
3951 Windward Passage Cir #102 Bonita Springs, FL	2.0	2.0	1397	$5,200	$3.72	23d	1	0.86mi
62 8th St Unit 1073526P Bonita Springs, FL	2.0	2.0	1593	$5,435	$3.41	23d	1	0.91mi
3941 Leeward Passage Ct #203 Bonita Springs, FL	2.0	2.0	1204	$2,000	$1.66	23d	1	0.91mi
3921 Leeward Passage Ct #203 Bonita Springs, FL	2.0	2.0	1204	$3,500	$2.91	23d	1	0.91mi
28650 Carriage Home Dr Unit 1049692P Bonita Springs, FL	3.0	2.0	1528	$3,980	$2.60	15d	1	0.92mi
999 E Valley Dr Unit 1073522P Bonita Springs, FL	3.0	2.5	1668	$9,929	$5.95	21d	1	0.93mi
74 7th St Bonita Springs, FL	3.0	2.0	1124	$3,150	$2.80	23d	1	0.97mi
28611 Carriage Home Dr #101 Bonita Springs, FL	2.0	2.0	1433	$2,550	$1.78	23d	1	1.01mi
28327 Hidden Lake Dr Bonita Springs, FL	3.0	2.0	1567	$8,950	$5.71	23d	1	1.06mi
1360 Sweetwater Cv #202 Naples, FL	2.0	2.0	1279	$5,500	$4.30	23d	1	1.09mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	13d	1	1.09mi
28700 Trails Edge Blvd Bonita Springs, FL	3.0	2.0	1458	$2,175	$1.49	3d	2	1.09mi
1390 Sweetwater Cv #203 Naples, FL	2.0	2.0	1279	$2,200	$1.72	13d	1	1.10mi
265 Barefoot Beach Blvd Bonita Springs, FL	2.0–3.0	2.0	1604	$9,500	$5.92	23d	3	1.10mi
265 Barefoot Beach Blvd #203 Bonita Springs, FL	3.0	2.0	1604	$13,000	$8.10	13d	1	1.11mi
1405 Sweetwater Cv #204 Naples, FL	3.0	2.0	1381	$6,000	$4.34	13d	1	1.11mi
1405 Sweetwater Cv #204 Naples, FL	3.0	2.0	1381	$6,000	$4.34	23d	1	1.11mi
262 Barefoot Beach Blvd Bonita Springs, FL	3.0	2.0–3.0	1864	$10,500	$5.63	23d	2	1.11mi
1345 Sweetwater Cv #203 Naples, FL	2.0	2.0	1279	$4,800	$3.75	23d	1	1.12mi

HOA detail condo

• Monthly dues: $654 · $7,848/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $345,000 Active 153 DOM
2. 2026-06-17
   days on market $345,000 Active 152 DOM
3. 2026-06-16
   days on market $345,000 Active 151 DOM
4. 2026-06-15
   days on market $345,000 Active 150 DOM
5. 2026-06-14
   days on market $345,000 Active 148 DOM
6. 2026-06-10
   days on market $345,000 Active 145 DOM
7. 2026-06-09
   days on market $345,000 Active 144 DOM
8. 2026-06-08
   days on market $345,000 Active 143 DOM
9. 2026-06-07
   days on market $345,000 Active 142 DOM
10. 2026-06-03
    days on market $345,000 Active 138 DOM
11. 2026-06-02
    days on market $345,000 Active 137 DOM
12. 2026-06-01
    days on market $345,000 Active 136 DOM
13. 2026-05-31
    days on market $345,000 Active 135 DOM
14. 2026-05-30
    days on market $345,000 Active 134 DOM
15. 2026-05-14
    price $345,000
16. 2026-05-02
    price $325,000
17. 2026-03-12
    price $369,900
18. 2026-01-16
    listed $375,000 Active
19. 2018-06-20
    soldstatus $295,000
20. 2018-06-18
    soldstatus $295,000 Sold 340-char remark

    Show marketing remark (340 chars)

    TWO BEDROOM TWO BATH SINGLE FLOOR VILLA HOME WITH SINGLE CAR GARAGE. BRIGHT AND SUNNY WITH SKYLIGHTS. MASTER HAS LARGE WALK-IN CLOSET. EAT-IN KITCHEN WITH A TON OF CABINET SPACE. GUEST BEDROOM HAS PRIVATE LANI AREA LARGE SCREENED LANAI OFF LIVING ROOM AND MASTER BEDROOM WITH VIEW OF THE LAKE. SEPERATE LAUNDRY ROOM WITH WASHER AND DRYER.

21. 2018-04-24
    status Pending With Contingencies 340-char remark

    Show marketing remark (340 chars)

    TWO BEDROOM TWO BATH SINGLE FLOOR VILLA HOME WITH SINGLE CAR GARAGE. BRIGHT AND SUNNY WITH SKYLIGHTS. MASTER HAS LARGE WALK-IN CLOSET. EAT-IN KITCHEN WITH A TON OF CABINET SPACE. GUEST BEDROOM HAS PRIVATE LANI AREA LARGE SCREENED LANAI OFF LIVING ROOM AND MASTER BEDROOM WITH VIEW OF THE LAKE. SEPERATE LAUNDRY ROOM WITH WASHER AND DRYER.

22. 2018-03-24
    price $299,900 340-char remark

    Show marketing remark (340 chars)

    TWO BEDROOM TWO BATH SINGLE FLOOR VILLA HOME WITH SINGLE CAR GARAGE. BRIGHT AND SUNNY WITH SKYLIGHTS. MASTER HAS LARGE WALK-IN CLOSET. EAT-IN KITCHEN WITH A TON OF CABINET SPACE. GUEST BEDROOM HAS PRIVATE LANI AREA LARGE SCREENED LANAI OFF LIVING ROOM AND MASTER BEDROOM WITH VIEW OF THE LAKE. SEPERATE LAUNDRY ROOM WITH WASHER AND DRYER.

23. 2018-02-28
    price $325,000 340-char remark

    Show marketing remark (340 chars)

    TWO BEDROOM TWO BATH SINGLE FLOOR VILLA HOME WITH SINGLE CAR GARAGE. BRIGHT AND SUNNY WITH SKYLIGHTS. MASTER HAS LARGE WALK-IN CLOSET. EAT-IN KITCHEN WITH A TON OF CABINET SPACE. GUEST BEDROOM HAS PRIVATE LANI AREA LARGE SCREENED LANAI OFF LIVING ROOM AND MASTER BEDROOM WITH VIEW OF THE LAKE. SEPERATE LAUNDRY ROOM WITH WASHER AND DRYER.

24. 2018-02-07
    listed $333,900 Active 340-char remark

    Show marketing remark (340 chars)

    TWO BEDROOM TWO BATH SINGLE FLOOR VILLA HOME WITH SINGLE CAR GARAGE. BRIGHT AND SUNNY WITH SKYLIGHTS. MASTER HAS LARGE WALK-IN CLOSET. EAT-IN KITCHEN WITH A TON OF CABINET SPACE. GUEST BEDROOM HAS PRIVATE LANI AREA LARGE SCREENED LANAI OFF LIVING ROOM AND MASTER BEDROOM WITH VIEW OF THE LAKE. SEPERATE LAUNDRY ROOM WITH WASHER AND DRYER.

ⓘ 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: $3,460 · $288/mo
• Projected year-2 tax: $3,460 · $288/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 6/10 Major FEMA zone X (shaded) · 57% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $54,035
• − Mortgage interest: −$19,325
• − Property taxes: −$3,460
• − Insurance: −$1,725
• − Repairs & maintenance: −$4,323
• − Management: −$4,323
• − HOA: −$7,848
• − Depreciation: −$10,036
• Taxable income: $2,994
• Est. tax owed @ 24.0%: −$719
• After-tax cash flow: $7,225/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

Amenities F Commute F Cost of living C- Crime A+ Employment A 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
• City population: 64,727
• 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

+3.3% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $345,000 NAPLESMLS
• 2026-05-02 Price Changed $325,000 NAPLESMLS
• 2026-03-12 Price Changed $369,900 NAPLESMLS
• 2026-01-16 Listed $375,000 NAPLESMLS
• 2018-06-20 Sold (Public Records) $295,000 Public Records
• 2018-06-18 Sold (MLS) $295,000 NAPLESMLS
• 2018-04-24 Pending — NAPLESMLS
• 2018-03-24 Price Changed $299,900 NAPLESMLS
• 2018-02-28 Price Changed $325,000 NAPLESMLS
• 2018-02-07 Listed $333,900 NAPLESMLS

Property tax history

+5.7%/yr

Latest (2025): $3,460 · +4.1% YoY. Source: county tax records.