5651 Rattlesnake Hamm Rd Unit C-107 · Lely, FL 34113

$179,000

2 bd · 2.0 ba · 1,054 sqft · Condo · 378 Days on market

Built 1980 $480/mo HOA · 18% of rent ↓ 19% since listing

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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 +23.5/30.0
• 1% rule +9.5/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A WONDERFUL Location In The Heart Of Naples! Welcome To Your SPACIOUS Convenient First Floor 2 Bedroom 2 Bathroom Condo Located In The PEACEFUL & Friendly Golf View Manor II Community That Features A HUGE Well maintained Landscaped Area From Your Lanai Overlooking Water & The Neighboring Golf Course. This Established Condo Fellowship Is WONDERFULLY Located Close To The Downtown Naples Area & The Gulf Beaches Or You May Want To Take A Short Stroll To The Delightful Marco Island Area. This Condo Features A Split Bedroom Design Which Provides Privacy, With A COMFORTABLE Primary Bedroom With Beautiful Views From Outside, The Primary Bathroom & A Walk In Closet. A GENEROU

Key facts

• Split bedroom design
• Community amenities
• Screened lanai

Tags

• FIRST FLOOR
• GOLF COURSE VIEWS
• SCREENED LANAI
• LANDSCAPED AREA
• COMMUNITY AMENITIES
• SPLIT BEDROOM DESIGN

Property features AI

Finance

• Other: Restrictions: limited number of vehicles, no RV
• HOA & community: Mandatory HOA; Quarterly condo fee of $1,440 (total annual recurring fees $5,760); One-time fees $150; Professional management; Community amenities include clubhouse and community pool; Maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, sewer, street lights, trash removal and water; Non-gated community

Exterior

• Parking: 1 assigned covered space; Detached 1-car carport; Driveway paved; Guest/paved parking available
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential condo in a low-rise building (1–3 stories); Built in 1980; Concrete block construction; Built-up or flat roof; Zero lot line; Rear exposure faces south; Located in Golf View Manor Condo (building C, unit 107)
• Construction: Concrete block construction; Built-up or flat roof; Stucco finish; Year built: 1980; Low-rise building design
• Exterior features: Automatic sprinkler system; Single-hung and sliding windows; Stucco exterior; Canal frontage; Golf course and water views; Canal width 1–30

Interior

• Kitchen: Electric cooktop; Disposal; Refrigerator
• Bedrooms: 2 bedrooms; First-floor bedroom; Master bedroom on ground level; Split bedroom floor plan
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bath with shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Foyer; Walk-in closet; Guest bath; Guest room; Laundry in residence; Screened lanai/porch; Common elevator; 2 ceiling fans
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: health & safety D, amenities F, commute 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.
• Zoned schools: Lely Elementary School (math 45% / reading 46%, grade D-, #1,247 of 2,144 statewide, top 59%, 499 students, 62% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL) — zoned schools at 58% FRL track the district average.
• Zoned-school proficiency averages 42% at this address vs 58% district-wide (-16 pts) — the specific schools serving this property underperform the Collier average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.6%/yr); 597 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).
• This rent runs 38% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 5.6% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 378 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 378 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.45% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.03%
• DSCR: 1.36
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-361
• Equity at exit: $26,689

10-year hold

• IRR: 12.7%
• Equity multiple: 2.17×
• Total profit: $58,609
• Equity at exit: $15,477

Cash invested: $50,120 (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 34113

• Rents YoY: 5.6%
• Active inventory: 597
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,598 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$480
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $335

Break-even live

Break-even rent $2,173

Max offer price $179,000

Occupancy floor 82%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5483 Rattlesnake Hammock Rd Unit 201B Naples, FL	2.0	2.0	1071	$1,800	$1.68	13d	1	0.01mi
4900 Biscayne Dr #22 Naples, FL	2.0	2.0	1108	$1,800	$1.62	21d	1	0.18mi
4360 Petal Dr Naples, FL	3.0	1.0–2.0	1018	$2,566	$2.52	13d	37	0.19mi
4977 Pepper Cir #205 Naples, FL	2.0	2.0	1250	$2,250	$1.80	21d	1	0.30mi
4830 Cortez Cir Naples, FL	3.0	2.0	1218	$3,100	$2.55	23d	1	0.34mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	21d	1	0.36mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	23d	1	0.36mi
200 Valley Stream Dr Unit 8B Naples, FL	2.0	2.0	979	$1,750	$1.79	23d	1	0.39mi
4907 Catalina Dr Unit 45 Naples, FL	3.0	2.0	1270	$1,900	$1.50	13d	1	0.42mi
4911 Catalina Dr Unit 22 Naples, FL	3.0	1.5	1200	$1,950	$1.62	13d	1	0.44mi
4300 Gulfstream Dr Unit 2D Naples, FL	2.0	2.0	1115	$1,295	$1.16	23d	1	0.48mi
4290 Gulfstream Dr #5 Naples, FL	2.0	2.0	956	$1,600	$1.67	23d	1	0.52mi
3625 Boca Ciega Dr Naples, FL	2.0	2.0	930	$2,400	$2.58	23d	2	0.57mi
4231 Gulfstream Dr Apt 102 Naples, FL	3.0	2.0	1178	$1,995	$1.69	13d	1	0.58mi
3950 Mohawk Pl Naples, FL	2.0	2.0	1500	$3,200	$2.13	23d	1	0.61mi
3655 Boca Ciega Dr #202 Naples, FL	2.0	2.0	966	$1,800	$1.86	23d	1	0.65mi
2093 Pine Isle Ln #2093 Naples, FL	2.0	2.0	927	$1,695	$1.83	23d	1	0.70mi
232 Pebble Beach Blvd #104 Naples, FL	3.0	2.0	1298	$1,975	$1.52	23d	1	0.71mi
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	23d	1	0.74mi
3561 Thomasson Dr Naples, FL	2.0	2.0	1085	$8,000	$7.37	23d	1	0.80mi
3619 Poplar Way Unit B Naples, FL	2.0	2.0	1045	$2,300	$2.20	23d	1	0.80mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	23d	1	0.81mi
7259 Cayo Coco Ln Naples, FL	2.0	2.0	1411	$6,500	$4.61	23d	1	0.83mi
7263 Cayo Coco Ln Naples, FL	2.0	2.0	1321	$6,500	$4.92	23d	1	0.84mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	13d	1	0.84mi
7299 Cayo Coco Ln Naples, FL	2.0	2.0	1476	$6,500	$4.40	23d	1	0.85mi
3195 Boca Ciega Dr Unit C10 Naples, FL	2.0	2.0	1400	$3,000	$2.14	23d	1	0.86mi
4719 Alladin Ln Naples, FL	1.0–2.0	1.0–2.0	671	$1,895	$2.82	23d	2	0.87mi
7204 Cayo Coco Ln Naples, FL	2.0	2.0	1308	$7,500	$5.73	23d	1	0.87mi
6984 Saona Ct Naples, FL	2.0	2.0	1472	$7,500	$5.10	23d	1	0.88mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	23d	1	0.89mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	23d	1	0.89mi
7142 Cayo Coco Ln Naples, FL	2.0	2.0	1490	$10,000	$6.71	23d	1	0.89mi
7289 Saona Ct Naples, FL	2.0	2.0	1411	$10,000	$7.09	23d	1	0.89mi
7138 Cayo Coco Ln Naples, FL	2.0	2.0	1205	$6,500	$5.39	23d	1	0.90mi
7110 Cayo Coco Ln Naples, FL	2.0	2.0	1387	$9,250	$6.67	23d	1	0.90mi
3806 Guilford Rd Unit 4 Naples, FL	2.0	2.0	1100	$1,750	$1.59	23d	1	0.92mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	13d	2	0.93mi
7286 Saona Ct Naples, FL	2.0	2.0	1205	$10,000	$8.30	23d	1	0.93mi
7197 Saona Ct Unit 1545994P Naples, FL	2.0	2.0	1291	$4,152	$3.22	13d	1	0.93mi

HOA detail condo

• Monthly dues: $480 · $5,760/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $179,000 Active 378 DOM
2. 2026-06-17
   days on market $179,000 Active 377 DOM
3. 2026-06-16
   days on market $179,000 Active 376 DOM
4. 2026-06-15
   days on market $179,000 Active 375 DOM
5. 2026-06-10
   days on market $179,000 Active 370 DOM
6. 2026-06-09
   days on market $179,000 Active 369 DOM
7. 2026-06-08
   days on market $179,000 Active 368 DOM
8. 2026-06-07
   days on market $179,000 Active 367 DOM
9. 2026-06-02
   days on market $179,000 Active 362 DOM
10. 2026-06-01
    days on market $179,000 Active 361 DOM
11. 2026-05-31
    days on market $179,000 Active 360 DOM
12. 2026-05-30
    remarks 683-char remark
13. 2026-05-30
    listed $179,000 Active 359 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,177
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,494
• − Management: −$2,494
• − HOA: −$5,760
• − Depreciation: −$5,207
• Taxable income: $1,614
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $3,638/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

• Score: 66/100
• State rank: #586
• US rank: #11224

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment C+ 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): 26,056
• Household income: $81,674
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 954.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 10% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Vietnam
• Languages at home: 63% English-only · Spanish 24% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -194.86%
• Current HPI: 279.4232
• Rent YoY: ▲ 5.59%
• 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

-18.6% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $179,000 NAPLESMLS
• 2026-02-14 Price Changed $199,000 NAPLESMLS
• 2025-06-05 Listed $219,900 NAPLESMLS