54 Oceans Blvd #54 · Berkshire Lakes, FL 34104

$169,500

2 bd · 2.0 ba · 1,224 sqft · Condo · 4 Days on market

Built 1990 $162/mo HOA · 6% 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 +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to paradise in Windjammer Village — one of Naples’ most desirable 55+ manufactured home communities! This beautifully maintained manufactured home offers the perfect blend of comfort, convenience, and the relaxed Southwest Florida lifestyle retirees dream about. Located just minutes from world-famous Gulf beaches, shopping, dining, golf courses, and vibrant downtown Naples, this home places you right in the heart of it all while still offering the peaceful charm of community living. Inside, you’ll find a bright and inviting layout with spacious living areas, abundant natural light, and plenty of room to entertain family and friends. Whether you’re looking for

Key facts

• Manufactured home
• Gulf beaches
• 2 parking spots

Tags

• MANUFACTURED HOME
• GULF BEACHES
• LOW-MAINTENANCE LIVING
• ABUNDANT NATURAL LIGHT

Property features AI

Finance

• Financial info: Pets allowed conditionally (call for details), maximum 2 pets
• HOA & community: Homeowners association (monthly fee $162); Association covers grounds maintenance, road maintenance, and street lights; Community amenities include clubhouse, pool, spa/hot tub, tennis courts, pickleball, bocce court, shuffleboard, pier, sidewalks; Gated community with street lights; Senior community; Approximately 300 units in the community

Exterior

• Parking: Attached carport; 2 covered spaces (carport)
• Security: Smoke detector(s)
• Utilities: Cable available; Sewer assessment paid; Water assessment paid
• Home design: Manufactured home with vinyl siding; Single-story; Entry on level 1; Faces north; Resale property
• Construction: Shingle roof
• Exterior features: Storage; Rectangular lot; South exposure; Community pool

Interior

• Kitchen: Electric cooktop; Range; Microwave; Refrigerator
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: French doors; Bar; Family/Dining room; Living/Dining room; Atrium-style French door(s); Shower only with separate shower; Furnished
• Laundry & utility: Washer and dryer connections inside; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $914 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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); 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $2,712/mo this rent would consume 45% of the median local household income ($72k/yr) (locally 1423% 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $47k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.60% ✓
• Cap rate: 12.76%
• Cash-on-cash: 23.11%
• DSCR: 2.03
• GRM: 5.2

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: 12.6%
• Equity multiple: 1.48×
• Total profit: $22,884
• Equity at exit: $25,273

10-year hold

• IRR: 19.0%
• Equity multiple: 2.36×
• Total profit: $64,492
• Equity at exit: $14,655

Cash invested: $47,460 (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 34104

• Rents YoY: -1.1%
• Active inventory: 436
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,712 high
• Mortgage (P&I): −$889
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$71
• HOA: −$162
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $914

Break-even live

Break-even rent $1,555

Max offer price $169,500

Occupancy floor 61%

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5301 Whitten Dr #81 Naples, FL	3.0	2.0	1386	$2,700	$1.95	23d	1	0.35mi
5257 Whitten Dr Naples, FL	2.0	2.0	1500	$2,500	$1.67	14d	1	0.44mi
6700 Dennis Cir Unit A103 Naples, FL	2.0	2.0	1308	$2,000	$1.53	14d	1	0.47mi
7065 Dennis Cir #302 Naples, FL	2.0	2.0	1097	$4,000	$3.65	21d	1	0.49mi
6825 Sterling Greens Dr #102 Naples, FL	3.0	2.0	1499	$4,500	$3.00	23d	1	0.52mi
6816 Sterling Greens Pl #105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	21d	1	0.52mi
6816 Sterling Greens Dr Unit 1105 Naples, FL	2.0	2.0	1243	$1,895	$1.52	14d	1	0.52mi
1051 Eastham Way Unit B104 Naples, FL	2.0	2.0	1091	$4,300	$3.94	14d	1	0.57mi
6828 Sterling Greens Dr Unit 4105 Naples, FL	2.0	2.0	1242	$3,750	$3.02	14d	1	0.57mi
1100 Eastham Way Unit A-105 Naples, FL	2.0	2.0	1184	$4,500	$3.80	14d	1	0.62mi
1748 Royal Cir Naples, FL	3.0	2.0	1451	$3,200	$2.21	23d	1	0.63mi
1787 Reuven Cir Unit 1001 Naples, FL	2.0	2.0	1112	$1,300	$1.17	14d	1	0.69mi
193 Fox Glen Dr Naples, FL	3.0	2.0	1345	$6,500	$4.83	23d	1	0.70mi
1810 Florida Club Cir Naples, FL	2.0	2.0	1200	$2,075	$1.73	14d	2	0.77mi
1075 Foxfire Ln Naples, FL	2.0	2.0	1092	$3,300	$3.02	23d	3	0.78mi
1820 Florida Club Cir Naples, FL	3.0	2.0	1282	$2,850	$2.22	23d	2	0.79mi
6643 Craven Hill Way Naples, FL	3.0	2.0	1384	$2,900	$2.10	14d	1	0.80mi
1840 Florida Club Cir #5309 Naples, FL	2.0	1.0	1328	$2,300	$1.73	23d	1	0.83mi
1830 Florida Club Cir #4111 Naples, FL	3.0	2.0	1189	$2,250	$1.89	21d	1	0.84mi
1950 W Crown Pointe Blvd Unit B207 Naples, FL	2.0	2.0	1129	$1,950	$1.73	23d	1	0.85mi
2972 Kings Lake Blvd #2972 Naples, FL	2.0	2.0	1100	$3,000	$2.73	23d	1	0.85mi
6954 Avalon Cir #703 Naples, FL	2.0	2.0	1467	$3,000	$2.04	14d	1	0.86mi
6954 Avalon Cir #702 Naples, FL	2.0	2.0	1467	$4,500	$3.07	23d	1	0.86mi
882 Bluebird St Naples, FL	3.0	2.0	1308	$6,000	$4.59	23d	1	0.87mi
1835 Florida Club Cir #3201 Naples, FL	3.0	2.0	1375	$2,095	$1.52	14d	1	0.88mi
2050 W Crown Pointe Blvd Unit C214 Naples, FL	3.0	2.0	1267	$4,200	$3.31	23d	1	0.91mi
1865 Florida Club Dr #6211 Naples, FL	3.0	2.0	1500	$2,000	$1.33	14d	1	0.94mi
1865 Florida Club Dr Naples, FL	2.0–3.0	1.0–2.0	1214	$1,750	$1.44	23d	2	0.95mi
1701 Courtyard Way Naples, FL	2.0	2.0	1072	$1,990	$1.86	23d	1	0.96mi
1933 Courtyard Way Unit D-103 Naples, FL	2.0	2.0	947	$1,850	$1.95	14d	1	0.98mi
1765 Courtyard Way Unit C-104 Naples, FL	2.0	2.0	1132	$2,700	$2.39	14d	1	0.99mi
1765 Courtyard Way Unit C206 Naples, FL	2.0	2.5	1150	$1,650	$1.43	14d	1	0.99mi
1875 Florida Club Dr Naples, FL	2.0	1.0	1016	$1,722	$1.69	23d	2	0.99mi
1895 Courtyard Way #103 Naples, FL	3.0	2.0	1046	$2,200	$2.10	21d	1	1.02mi
4502 Parrot Ave Naples, FL	3.0	2.0	1200	$2,950	$2.46	23d	1	1.05mi
1700 Windy Pines Dr #1 Naples, FL	2.0	2.0	1349	$2,300	$1.70	21d	1	1.05mi
1802 Kings Lake Blvd Unit 2-101 Naples, FL	2.0	2.0	1465	$5,500	$3.75	23d	1	1.06mi
7380 Saint Ives Way Naples, FL	2.0	2.0	1026	$4,400	$4.29	23d	2	1.08mi
141 Bristol Ln Unit C21 Naples, FL	2.0	2.0	1400	$5,900	$4.21	23d	1	1.08mi
4210 Looking Glass Ln Unit 4210 Naples, FL	2.0	2.0	1300	$3,000	$2.31	14d	1	1.08mi

HOA detail condo

• Monthly dues: $162 · $1,944/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-30
   days on market $169,500 Active 4 DOM
2. 2026-05-26
   listed $169,500 Active

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,407 · $117/mo
• Expected delta: +$125/yr (+$10/mo · 9.7%)

ⓘ 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) · 48% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $32,544
• − Mortgage interest: −$9,495
• − Property taxes: −$1,282
• − Insurance: −$848
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − HOA: −$1,944
• − Depreciation: −$4,931
• Taxable income: $8,838
• Est. tax owed @ 24.0%: −$2,121
• After-tax cash flow: $8,849/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 — Berkshire Lakes

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,408
• Household income: $71,686
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1423.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 30% Two or more races 19% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 3% Hispanic 2%
• Foreign-born: 30% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · Spanish 24% French/Haitian/Cajun 5% Russian/Polish/Slavic 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: ▼ -252.48%
• Current HPI: 259.3498
• Rent YoY: ▼ -1.10%
• 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

1 event — show timeline

• 2026-05-26 Listed $169,500 FORTMLS

Property tax history

+10.9%/yr

Latest (2025): $1,282 · +10.1% YoY. Source: county tax records.