6840 Beach Resort Dr #16 · Lely Resort, FL 34114

$399,000

2 bd · 2.0 ba · 1,351 sqft · Condo public records · 91 Days on market

Built 2002 $658/mo HOA · 14% 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 +18.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.9/10.0
• Schools +5.0/10.0
• Appreciation +4.3/10.0
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks

This light-filled 2-bedroom, 2-bath second-floor END UNIT in sought-after Falling Waters Beach Resort offers the perfect combination of comfort, style, and easy living. Abundant natural light pours in through the additional end-unit window, enhancing the bright, open feel. The tastefully updated interior which has been recently painted is offered furnished with select designer pieces and has been meticulously maintained. The kitchen features crisp white cabinetry accented by upper and lower cabinet lighting, creating a clean and inviting space. One of the standout features is the expansive enclosed lanai offering over 300 square feet of additional living space—ideal for year-round enj

Key facts

• Water views
• Telescoping sliders
• Lap pool

Tags

• EXPANSIVE ENCLOSED LANAI
• TELESCOPING SLIDERS
• WATER VIEWS
• RESORT-STYLE LAZY RIVER POOL
• LAP POOL
• TENNIS AND PICKLEBALL COURTS

Property features AI

Finance

• Financial info: Total annual recurring HOA fees approximately $7,900; One-time fees approximately $150
• HOA & community: Quarterly condo fee; Condo fee covers cable, insurance, internet/Wi-Fi, irrigation water, lawn/land maintenance, pest control (interior and exterior), recreation facilities, reserves, sewer, street lights, street maintenance, trash removal and water; Professional management; Gated community amenities include clubhouse, community pool, bike and jog path, bocce court, pickleball, and shuffleboard

Exterior

• Parking: Detached 1-car garage
• Security: Gated community; Security system
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise (1-3) building; 2-story end unit; Rear exposure faces north; Built in 2002; Located in Falling Waters Beach Resort
• Construction: Concrete block construction; Tile roof; Single-hung windows; Foundation information not provided
• Exterior features: Lake view; Lakefront; Central irrigation; Zero lot line; Shutters (electric); Stucco exterior

Interior

• Kitchen: Self-cleaning oven; Microwave; Garbage disposal; Refrigerator/freezer with icemaker; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and a shower-only stall
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Cable prewire; Laundry tub; Smoke detectors; Vaulted ceiling; Walk-in closet; Window coverings; Split bedroom floor plan; Furnished
• Laundry & utility: Washer and dryer included; 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 $399k.

Deal economics

• At list price, monthly cash flow is $-22 ($-261/yr) — negative.
• To cash-flow at today's rent, offer at most $395k (1.0% below list).
• Meets the 1% rule at list price ($5k rent vs $399k).
• Recommended offer: $363k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#786 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; 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 rising (+3.2%/yr); 900 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 $4,571/mo this rent would consume 61% of the median local household income ($89k/yr) (locally 550% 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 (-1.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $6k 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 91 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $363,090 (9.0% 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 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 1.15% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.48% appreciation · 3.21% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.66×
• Total profit: $-38,432
• Equity at exit: $87,187

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-4,946
• Equity at exit: $83,985

Cash invested: $111,720 (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 34114

• Home prices YoY: -0.6%
• Rents YoY: 3.2%
• Active inventory: 900
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,571 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$290 /mo · $3,475/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$658
• Vacancy / Maint / Mgmt: −$960
• Net cashflow: $-22

Break-even live

Break-even rent $4,598

Max offer price $395,160

Occupancy floor 95%

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6590 Beach Resort Dr Unit 305 Naples, FL	2.0	2.0	1351	$4,500	$3.33	14d	1	0.13mi
6650 Beach Resort Dr Unit 908 Naples, FL	2.0	2.0	1351	$4,600	$3.40	14d	1	0.33mi
6750 Beach Resort Dr #7 Naples, FL	2.0	2.0	1351	$3,900	$2.89	23d	1	0.38mi
6750 Beach Resort Dr Naples, FL	2.0	2.0	1351	$3,200	$2.37	14d	2	0.38mi
9175 Celeste Dr Unit 105 Naples, FL	2.0	2.0	1000	$2,000	$2.00	23d	1	0.38mi
9187 Celeste Dr Unit 1073494P Naples, FL	2.0	2.0	1399	$2,979	$2.13	14d	1	0.39mi
9165 Celeste Dr Unit 3-303 Naples, FL	2.0	2.0	1000	$6,500	$6.50	23d	1	0.44mi
9159 Delano St #9905 Naples, FL	3.0	2.0	1770	$4,995	$2.82	23d	1	0.48mi
6680 Beach Resort Dr Unit 1214 Naples, FL	2.0	2.0	1351	$4,500	$3.33	14d	1	0.48mi
9155 Delano St Unit 1545913P Naples, FL	3.0	2.0	1797	$3,871	$2.15	14d	1	0.49mi
9151 Delano St #9702 Naples, FL	3.0	2.5	1733	$2,650	$1.53	14d	1	0.51mi
22 Cypress View Dr Unit B22 Naples, FL	2.0	2.0	1534	$7,000	$4.56	23d	1	0.54mi
9118 Chula Vista St #12002 Naples, FL	2.0	2.5	1531	$4,200	$2.74	23d	1	0.61mi
9111 Capistrano St S #8303 Naples, FL	2.0	2.5	1432	$7,500	$5.24	23d	1	0.65mi
9115 Capistrano St S #8207 Naples, FL	2.0	2.5	1494	$6,000	$4.02	23d	1	0.65mi
9102 Chula Vista St #11302 Naples, FL	2.0	2.5	1531	$2,695	$1.76	21d	1	0.68mi
9109 Yuba Ln Unit 80 Naples, FL	3.0	2.5	1729	$3,900	$2.26	23d	1	0.69mi
7052 Live Oak Dr Naples, FL	2.0	2.0	1685	$9,000	$5.34	23d	1	0.69mi
9092 Chula Vista St #11003 Naples, FL	2.0	2.0	1404	$6,850	$4.88	23d	1	0.71mi
9088 Chula Vista St Unit 108-3 Naples, FL	2.0	2.0	1404	$5,700	$4.06	23d	1	0.73mi
9102 Capistrano St S Unit 72-3 Naples, FL	2.0	2.5	1520	$6,500	$4.28	23d	1	0.73mi
8540 Mystic Greens Way #305 Naples, FL	2.0	2.0	1710	$4,995	$2.92	14d	1	0.74mi
9081 Albion Ln S #6505 Naples, FL	2.0	2.0	1225	$7,500	$6.12	23d	1	0.78mi
9072 Rialto St #6302 Naples, FL	3.0	2.0	1771	$8,250	$4.66	21d	1	0.80mi
9076 Rialto St Unit 62 Naples, FL	3.0	2.5	1624	$7,500	$4.62	23d	1	0.81mi
9175 Michael Cir #4 Naples, FL	3.0	2.0	1639	$3,195	$1.95	14d	1	0.81mi
9073 Rialto St #6002 Naples, FL	3.0	2.0	1771	$7,500	$4.23	23d	1	0.84mi
9022 Michael Cir Unit 2-205 Naples, FL	2.0	2.0	1450	$3,500	$2.41	23d	1	0.84mi
9071 Albion Ln N #5706 Naples, FL	2.0	2.5	1441	$2,200	$1.53	23d	1	0.84mi
9066 Albion Ln N #5106 Naples, FL	3.0	2.5	1715	$6,500	$3.79	21d	1	0.85mi
9082 Capistrano St N Unit 48-5 Naples, FL	2.0	2.0	1227	$6,500	$5.30	23d	1	0.88mi
8965 Malibu Ln #802 Naples, FL	3.0	2.0	1771	$6,595	$3.72	23d	1	0.88mi
8519 Chase Preserve Dr Naples, FL	2.0	2.0	1827	$9,000	$4.93	23d	1	0.97mi
9054 Capistrano St N #4003 Naples, FL	2.0	2.0	1385	$2,495	$1.80	23d	1	0.97mi
9054 Capistrano St N #4002 Naples, FL	3.0	2.0	1674	$6,000	$3.58	23d	1	0.97mi
1747 Beverly Dr Naples, FL	2.0	2.0	1080	$2,300	$2.13	23d	1	0.99mi
274 Riverwood Rd Unit 1546056P Naples, FL	2.0	2.0	1496	$4,451	$2.98	14d	1	1.00mi
8175 Celeste Dr Naples, FL	2.0	2.0	1460	$2,395	$1.64	23d	1	1.05mi
8175 Celeste Dr #1230 Naples, FL	2.0	2.0	1476	$2,775	$1.88	23d	1	1.05mi
8175 Celeste Dr #1229 Naples, FL	3.0	2.0	1640	$2,975	$1.81	23d	1	1.05mi

HOA detail condo

• Monthly dues: $658 · $7,896/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $399,000 Active 91 DOM
2. 2026-06-17
   days on market $399,000 Active 90 DOM
3. 2026-06-16
   days on market $399,000 Active 89 DOM
4. 2026-06-15
   days on market $399,000 Active 88 DOM
5. 2026-06-14
   days on market $399,000 Active 86 DOM
6. 2026-06-10
   days on market $399,000 Active 83 DOM
7. 2026-06-09
   days on market $399,000 Active 82 DOM
8. 2026-06-08
   days on market $399,000 Active 81 DOM
9. 2026-06-07
   days on market $399,000 Active 80 DOM
10. 2026-06-03
    days on market $399,000 Active 76 DOM
11. 2026-06-03
    remarks 693-char remark
12. 2026-06-03
    listed $399,000 Active 75 DOM

ⓘ 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: $3,475 · $290/mo
• Projected year-2 tax: $3,475 · $290/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 8/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 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: $54,851
• − Mortgage interest: −$22,350
• − Property taxes: −$3,475
• − Insurance: −$7,114
• − Repairs & maintenance: −$4,388
• − Management: −$4,388
• − HOA: −$7,896
• − Depreciation: −$11,607
• Taxable loss: −$6,367
• Est. tax savings @ 24.0%: +$1,528
• After-tax cash flow: $1,267/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 — Lely Resort

• Score: 61/100
• State rank: #786
• US rank: #17981

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A- Housing D- 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): 23,559
• Household income: $89,334
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 550.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 13% Black 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 5% Romanian 4% Lithuanian 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 15% French/Haitian/Cajun 5% Other Indo-European 4%

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: ▼ -1.48%
• Current HPI: 266.5545
• Rent YoY: ▲ 3.21%
• 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

+6.4% since first listed

2 events — show timeline

• 2026-03-19 Listed $399,000 NAPLESMLS
• 2021-12-28 Sold (Public Records) $375,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $3,475 · -1.2% YoY. Source: county tax records.