400 Misty Pines Cir #205 · Naples, FL 34105

$285,000

3 bd · 2.0 ba · 1,367 sqft · Condo public records · 74 Days on market

Built 1990 $646/mo HOA · 16% of rent

---

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 +26.4/30.0
• 1% rule +9.3/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CONDO IS BEING SOLD IN "AS IS" CONDITION. This three bedroom unit has tile throughout. It offers a spacious primary bedroom and a great lake view from the screened lanai. The building roof was replaced in 2022. The washer and dryer were replaced in 2026 and the hot water heater in 2025. There is a storage closet at the carport. The community offers pickleball, tennis and a community pool. Great in-town location.

Key facts

• Tennis
• Community pool
• Pickleball

Tags

• LAKE VIEW
• SCREENED LANAI
• STORAGE CLOSET
• COMMUNITY POOL
• PICKLEBALL
• TENNIS

Property features AI

Finance

• Other: Property is part of a multi-unit complex (24 units total; 12 units in building; 2 units per floor; single-floor building); Possession at closing
• HOA & community: Quarterly condo fee ($1,938); Professional management; Community amenities: pool, tennis court, pickleball; Non-gated community; Maintenance covers insurance, irrigation water, lawn/land maintenance, manager, exterior pest control, recreation facilities, reserves, sewer, street lights, trash removal, water; Total annual recurring fees: $7,752; One-time fees: $250

Exterior

• Parking: 2 assigned parking spaces; Detached 1-space carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden apartment; Low-rise building (1–3 stories); Rear exposure to the east; Unit 205 in Pinewoods / Windwood development
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Single-hung windows; Built in 1990
• Exterior features: Lake view; Lake frontage (waterfront: lake); Reclaimed irrigation; Regular lot; Screened lanai/porch

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms (split bedroom floor plan)
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bathroom with shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Foyer; High-speed internet available; Smoke detectors; Walk-in closet; Dining area in living room; Screened lanai/porch
• Laundry & utility: Washer and dryer in residence

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• Recommended offer: $268k (6.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents flat; 334 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $4,069/mo this rent would consume 53% of the median local household income ($92k/yr) (locally 780% 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 $9k 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 74 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $285k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $267,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
7. 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.
8. 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.
9. 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: 1.43% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.24%
• DSCR: 1.50
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-6,841
• Equity at exit: $42,494

10-year hold

• IRR: 4.4%
• Equity multiple: 1.29×
• Total profit: $22,948
• Equity at exit: $24,642

Cash invested: $79,800 (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 34105

• Home prices YoY: -30.5%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $4,069 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$208 /mo · $2,494/yr
• Insurance: −$119
• HOA: −$646
• Vacancy / Maint / Mgmt: −$854
• Net cashflow: $747

Break-even live

Break-even rent $3,123

Max offer price $285,000

Occupancy floor 77%

Sensitivity live

Price	-10% $909	-5% $828	+0% $747	+5% $667	+10% $586
Rent	-10% $426	-5% $587	+0% $747	+5% $908	+10% $1,069
Rate	-1.0pp $891	-0.5pp $820	base $747	+0.5pp $673	+1.0pp $598

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Misty Pines Cir #206 Naples, FL	2.0	2.0	1260	$6,000	$4.76	15d	1	0.05mi
500 Misty Pines Cir Unit 2-204 Naples, FL	2.0	2.0	1260	$5,750	$4.56	14d	1	0.05mi
1350 Misty Pines Cir Unit E-204 Naples, FL	2.0	2.0	1200	$7,500	$6.25	15d	1	0.12mi
3308 Europa Dr #30 Naples, FL	2.0	2.0	1205	$5,500	$4.56	24d	1	0.26mi
1860 Bald Eagle Dr Unit 403B Naples, FL	2.0	2.0	1325	$3,000	$2.26	15d	1	0.48mi
1044 Woodshire Ln Unit B212 Naples, FL	3.0	2.0	1250	$8,000	$6.40	24d	1	0.51mi
1629 Spoonbill Ln Unit 1629-A Naples, FL	2.0	2.0	1250	$2,000	$1.60	15d	1	0.56mi
1545 Oyster Catcher Pt Unit A Naples, FL	2.0	2.0	1124	$2,200	$1.96	15d	1	0.57mi
1554 Oyster Catcher Pt Unit C Naples, FL	2.0	2.0	1124	$2,900	$2.58	24d	1	0.60mi
2581 Poinciana St Naples, FL	3.0	2.0	1255	$9,000	$7.17	24d	1	0.73mi
3511 Santiago Way Naples, FL	4.0	2.0	1800	$6,500	$3.61	24d	1	0.82mi
287 Quail Forest Blvd #117 Naples, FL	2.0	2.0	993	$1,695	$1.71	15d	1	0.83mi
287 Quail Forest Blvd #117 Naples, FL	2.0	2.0	993	$1,995	$2.01	22d	1	0.83mi
501 Forest Lakes Blvd #111 Naples, FL	2.0	2.0	919	$2,300	$2.50	15d	1	0.84mi
260 Quail Forest Blvd Naples, FL	1.0–2.0	1.0–2.0	875	$2,533	$2.89	15d	22	0.84mi
499 Forest Lakes Blvd #105 Naples, FL	2.0	2.0	919	$1,950	$2.12	15d	1	0.88mi
1085 Forest Lakes Dr Unit 8202 Naples, FL	2.0	2.0	1086	$2,800	$2.58	15d	1	0.91mi
1085 Forest Lakes Dr Unit 8106 Naples, FL	2.0	2.0	1000	$1,900	$1.90	15d	1	0.91mi
3520 Bolero Way Unit 1325569P Naples, FL	3.0	2.0	1399	$5,021	$3.59	15d	1	0.93mi
1086 Forest Lakes Dr Unit 9303 Naples, FL	2.0	2.0	1000	$2,395	$2.40	15d	1	0.95mi
5301 Summerwind Dr Naples, FL	1.0–2.0	1.0–2.0	836	$1,864	$2.23	15d	12	1.03mi
1614 Forest Lakes Blvd Naples, FL	3.0	2.0	1869	$10,000	$5.35	24d	1	1.07mi
1719 Camelia Ln Naples, FL	3.0	2.0	1534	$3,900	$2.54	24d	1	1.17mi
3225 Cypress Glen Way #105 Naples, FL	2.0	2.0	1191	$2,900	$2.43	24d	1	1.21mi
3105 La Costa Cir Naples, FL	1.0–3.0	1.0–2.0	1050	$2,235	$2.13	15d	20	1.23mi
3255 Tamara Dr #4 Naples, FL	3.0	2.5	1437	$2,500	$1.74	15d	1	1.25mi
3250 Cypress Glen Way Naples, FL	2.0	2.0	1242	$3,300	$2.66	22d	3	1.28mi
3250 Cypress Glen Way Naples, FL	2.0	2.0	1191	$3,488	$2.93	24d	2	1.28mi
3268 Amanda Ln #3 Naples, FL	3.0	2.5	1437	$2,350	$1.64	15d	1	1.32mi
12832 Brynwood Way Naples, FL	3.0	2.0	1714	$5,250	$3.06	15d	1	1.32mi
3304 Lisa Ln Unit 102 Naples, FL	2.0	2.5	1272	$2,350	$1.85	15d	1	1.39mi
12914 Brynwood Preserve Ln Naples, FL	2.0	2.0	1720	$7,000	$4.07	24d	1	1.43mi

HOA detail condo

• Monthly dues: $646 · $7,752/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $285,000 Active 74 DOM
2. 2026-06-18
   days on market $285,000 Active 71 DOM
3. 2026-06-17
   days on market $285,000 Active 70 DOM
4. 2026-06-16
   days on market $285,000 Active 69 DOM
5. 2026-06-15
   days on market $285,000 Active 68 DOM
6. 2026-06-14
   days on market $285,000 Active 66 DOM
7. 2026-06-10
   days on market $285,000 Active 63 DOM
8. 2026-06-09
   days on market $285,000 Active 62 DOM
9. 2026-06-08
   days on market $285,000 Active 61 DOM
10. 2026-06-07
    days on market $285,000 Active 60 DOM
11. 2026-06-03
    days on market $285,000 Active 56 DOM
12. 2026-06-02
    days on market $285,000 Active 55 DOM
13. 2026-06-01
    pricedays on market $285,000 Active 54 DOM
14. 2026-05-31
    days on market $299,900 Active 53 DOM
15. 2026-05-30
    days on market $299,900 Active 52 DOM
16. 2026-04-08
    listed $299,900 Active
17. 2015-04-14
    soldstatus $150,000
18. 2005-10-19
    soldstatus $305,000
19. 2005-04-04
    soldstatus $279,000
20. 2004-04-20
    soldstatus $142,500
21. 1994-09-30
    soldstatus $87,000

ⓘ 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: $2,494 · $208/mo
• Projected year-2 tax: $2,494 · $208/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,826
• − Mortgage interest: −$15,964
• − Property taxes: −$2,494
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,906
• − Management: −$3,906
• − HOA: −$7,752
• − Depreciation: −$8,291
• Taxable income: $5,088
• Est. tax owed @ 24.0%: −$1,221
• After-tax cash flow: $7,746/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): 15,441
• Household income: $92,214
• Rent vs Own: 29.7% rent · 70.3% own
• Severe rent burden: 780.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 3% Salvadoran 1%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 3%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 3%

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: ▼ -124.65%
• Current HPI: 283.9084
• Rent YoY: ▲ 0.85%
• 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

+244.7% since first listed

6 events — show timeline

• 2026-04-08 Listed $299,900 BEARMLS
• 2015-04-14 Sold (Public Records) $150,000 Public Records
• 2005-10-19 Sold (Public Records) $305,000 Public Records
• 2005-04-04 Sold (Public Records) $279,000 Public Records
• 2004-04-20 Sold (Public Records) $142,500 Public Records
• 1994-09-30 Sold (Public Records) $87,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,494 · +4.2% YoY. Source: county tax records.