340 Horse Creek Dr #307 · Naples Park, FL 34110

$269,000

2 bd · 2.0 ba · 1,326 sqft · Condo public records · 82 Days on market

Built 1990 $959/mo HOA · 20% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

One or more photo(s) has been virtually staged, AI generated or rendered. Priced to sell after huge price reduction, seller says: Bring me an offer. One or more photo(s) has been virtually staged, AI generated or rendered. Welcome to this beautifully maintained third-floor residence in the desirable North Naples community of Princeton Place at Wiggins Bay. This light-filled unit offers peaceful preserve and lake views, creating a serene backdrop for everyday living. The thoughtfully designed floor plan features an open-concept living and dining area with abundant natural light and seamless access to the screened lanai — perfect for enjoying Southwest Florida’s year-round climate

Key facts

• Covered parking
• Screened lanai
• In-unit laundry

Tags

• PRESERVE AND LAKE VIEWS
• SCREENED LANAI
• IN-UNIT LAUNDRY
• ELEVATOR ACCESS
• COVERED PARKING
• COMMUNITY POOL AND SPA

Property features AI

Finance

• Other: Part of a complex with 184 units; 37 units in the building; 3 units per floor; 1 floor in this building; Dock lease for boat access with bridge(s) to Gulf access
• Financial info: Condo fee billed monthly; Master HOA fee billed annually
• HOA & community: Mandatory HOA; Monthly condo fee; Professional management; Condo fee covers cable, insurance, internet/Wi‑Fi, irrigation water, manager, exterior pest control, repairs, reserves, security, street lights, street maintenance, trash removal and water; Community amenities include BBQ/picnic area, beach access, beach club (available), clubhouse, community pool, community spa/hot tub, exercise room, library, private membership options and tennis courts; Community types: boating, gated, tennis; Total annual recurring fees listed; Total one-time fees listed

Exterior

• Parking: 1 assigned covered parking; Detached 1-car carport; Common and guest parking available
• Security: Gated community; Guard at gate
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Mid-rise building (4–7 stories); Built in 1990; Concrete block construction; Rear exposure to the south
• Construction: Concrete block construction; Shingle roof; Stucco finish
• Exterior features: Shingle roof; Stucco exterior finish; Single-hung and sliding windows; Electric storm shutters; Gated community with guard at gate; Lake waterfront; Views of bay, lake and water; Central irrigation; Regular lot; private paved access road

Interior

• Kitchen: Cooktop (electric); Range; Microwave; Dishwasher; Disposal; Refrigerator/ice maker; Breakfast bar; Eat-in kitchen; Dining area (living); Built-in desk in kitchen
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Smoke detectors; Walk-in closet; Built-in desk; Screened balcony; Partially furnished; Common elevator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $269k).
• Recommended offer: $253k (6.0% 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 $4,886/mo this rent would consume 60% 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 $8k 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 82 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $123k; list at $269k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $252,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.82% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.43%
• DSCR: 1.78
• GRM: 4.6

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: 3.0%
• Equity multiple: 1.11×
• Total profit: $8,208
• Equity at exit: $40,109

10-year hold

• IRR: 8.3%
• Equity multiple: 1.52×
• Total profit: $38,806
• Equity at exit: $23,258

Cash invested: $75,320 (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: 4.6×

Monthly cashflow live

• Estimated rent: $4,886 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$285 /mo · $3,415/yr
• Insurance: −$112
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$959
• Vacancy / Maint / Mgmt: −$1,026
• Net cashflow: $1,028

Break-even live

Break-even rent $3,586

Max offer price $269,000

Occupancy floor 74%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	23d	1	0.02mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	13d	4	0.05mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	23d	1	0.05mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	23d	1	0.10mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	23d	1	0.16mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	23d	1	0.19mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	23d	1	0.19mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	23d	1	0.19mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	23d	1	0.23mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	23d	2	0.32mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	21d	1	0.32mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	13d	1	0.32mi
12945 Vanderbilt Dr Naples, FL	2.0	2.0	1301	$5,250	$4.04	23d	2	0.37mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	23d	1	0.37mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	23d	1	0.41mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	23d	1	0.44mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	23d	1	0.51mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	23d	1	0.53mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	13d	1	0.53mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	21d	1	0.54mi
1282 Belaire Ct Naples, FL	3.0	3.5	1495	$9,500	$6.35	23d	1	0.60mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	13d	1	0.62mi
1284 Rainbow Ct Naples, FL	2.0	2.0	1572	$4,200	$2.67	21d	1	0.64mi
1296 Grand Canal Dr Naples, FL	3.0	2.0	1614	$8,000	$4.96	23d	1	0.67mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	23d	1	0.67mi
1337 Center Ln Naples, FL	3.0	2.0	1500	$4,300	$2.87	23d	1	0.69mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	23d	1	0.74mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.80mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	23d	2	0.80mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	23d	1	0.81mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	13d	1	0.86mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	13d	1	0.89mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	23d	1	0.90mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	23d	1	0.91mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	23d	1	0.91mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	23d	1	0.99mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	23d	1	1.00mi
509 Roma Ct Naples, FL	3.0	2.0	1322	$3,850	$2.91	23d	3	1.07mi
519 Roma Ct Naples, FL	3.0	2.0	1260	$4,450	$3.53	13d	6	1.07mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	23d	3	1.10mi

HOA detail condo

• Monthly dues: $959 · $11,508/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $269,000 Active 82 DOM
2. 2026-06-17
   days on market $269,000 Active 81 DOM
3. 2026-06-16
   days on market $269,000 Active 80 DOM
4. 2026-06-15
   pricedays on market $269,000 Active 79 DOM
5. 2026-06-14
   days on market $299,000 Active 77 DOM
6. 2026-06-10
   days on market $299,000 Active 74 DOM
7. 2026-06-09
   days on market $299,000 Active 73 DOM
8. 2026-06-08
   days on market $299,000 Active 72 DOM
9. 2026-06-07
   days on market $299,000 Active 71 DOM
10. 2026-06-03
    days on market $299,000 Active 67 DOM
11. 2026-06-02
    days on market $299,000 Active 66 DOM
12. 2026-06-01
    days on market $299,000 Active 65 DOM
13. 2026-05-31
    days on market $299,000 Active 64 DOM
14. 2026-05-30
    days on market $299,000 Active 63 DOM
15. 2026-04-02
    status Active
16. 2026-03-03
    status Pending With Contingencies
17. 2026-02-26
    listed $299,000 Active
18. 2026-02-09
    historical $4,000
19. 2026-02-07
    historical
20. 2026-01-08
    listed $4,000
21. 2026-01-08
    historical $4,000
22. 2025-11-24
    price $320,000
23. 2025-10-08
    listed $4,000
24. 2025-07-24
    price $360,000
25. 2025-03-27
    listed $399,900 Active
26. 1989-10-01
    soldstatus $122,800

ⓘ 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: $3,415 · $285/mo
• Projected year-2 tax: $3,415 · $285/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 7/10 Severe FEMA zone X (shaded) · 95% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $58,638
• − Mortgage interest: −$15,068
• − Property taxes: −$3,415
• − Insurance: −$2,142
• − Repairs & maintenance: −$4,691
• − Management: −$4,691
• − HOA: −$11,508
• − Depreciation: −$7,825
• Taxable income: $9,297
• Est. tax owed @ 24.0%: −$2,231
• After-tax cash flow: $10,099/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

+143.5% since first listed

12 events — show timeline

• 2026-04-02 Relisted — NAPLESMLS
• 2026-03-03 Pending — NAPLESMLS
• 2026-02-26 Listed $299,000 NAPLESMLS
• 2026-02-09 Rental Removed $4,000 FGCMLS
• 2026-02-07 Listing Removed — FORTMLS
• 2026-01-08 Listed for Rent $4,000 FGCMLS
• 2026-01-08 Rental Removed $4,000 FORTMLS
• 2025-11-24 Price Changed $320,000 FORTMLS
• 2025-10-08 Listed for Rent $4,000 FORTMLS
• 2025-07-24 Price Changed $360,000 FORTMLS
• 2025-03-27 Listed $399,900 FORTMLS
• 1989-10-01 Sold (Public Records) $122,800 Public Records

Property tax history

+7.7%/yr

Latest (2025): $3,415 · +3.9% YoY. Source: county tax records.