721 9th St S #4 · Naples, FL 34102

$449,000

1 bd · 1.0 ba · 514 sqft · Condo public records · 339 Days on market

Built 1967 $964/mo HOA · 22% of rent

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Why this score? — see what drove the D+ 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 +10.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Excellent Location! Completely Redone inside & out, offering a very large garden courtyard with brick pavers, river rock, soothing fountain- all forming a tropical retreat. A spacious, bright kitchen & living area with marble, custom cabinets & detailed woodwork masterfully created with an artistic flair that is different from the "average" condo. No restrictions, pets allowed, and extremely private. Only 1 block to 5th Ave, 1 block to Naples Bay & 8 blocks to the beach. Discover a secluded & charming cottage in the heart of Old Naples.

Key facts

• Pet friendly
• $964 HOA
• Garage

Tags

• PRIVATE OUTDOOR PATIO
• FLEXIBLE RENTAL POLICY
• PET FRIENDLY

Property features AI

Finance

• Other: Property is part of a 4-unit complex with 1 unit per floor and 1 floor in the building; Total lot area noted as 650 (unit not displayed); Landscaped area view; Central irrigation
• HOA & community: Mandatory HOA (Condo/Hotel community); Quarterly condo fee; Condo fee listed as quarterly ($2,893); Total annual recurring fees $11,572; HOA maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, exterior pest control, sewer, trash removal, and water; Resident-managed; Community amenities include sidewalks and streetlights

Exterior

• Parking: One assigned deeded parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1–3 stories); End-unit; Rear exposure faces east; Located in OLDE NAPLES / Garden Cottages of Old Naples
• Construction: Concrete block construction; Stucco exterior finish; Metal roof; Built in 1967
• Exterior features: Fence; Patio; Privacy wall; Impact resistant windows

Interior

• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Living and dining combined (Dining in living area); Open porch/lanai; Unfurnished; See remarks for additional interior details
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $449k.

Deal economics

• At list price, monthly cash flow is $-698 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $448k (0.2% below list).
• Recommended offer: $326k (27.4% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Lake Park Elementary School (math 76% / reading 77%, grade A, #185 of 2,144 statewide, top 9%, 502 students, 39% FRL); Gulfview Middle School (math 78% / reading 68%, grade A, #44 of 571 statewide, top 8%, 582 students, 40% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 616 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 41% of the median local income ($131k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($3k loan paydown + $18k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 339 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $126k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $270k; list at $449k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 22% of rent.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $325,783 (27.4% 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 339 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.00% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.59%
• DSCR: 0.88
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.08% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.48×
• Total profit: $60,389
• Equity at exit: $229,844

10-year hold

• IRR: 12.6%
• Equity multiple: 3.32×
• Total profit: $291,480
• Equity at exit: $377,690

Cash invested: $125,720 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 616
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,481 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$306 /mo · $3,666/yr
• Insurance: −$187
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$964
• Vacancy / Maint / Mgmt: −$941
• Net cashflow: $-698

Break-even live

Break-even rent $5,364

Max offer price $325,783

Occupancy floor —

Sensitivity live

Price	-10% $-443	-5% $-570	+0% $-698	+5% $-825	+10% $-952
Rent	-10% $-1,052	-5% $-875	+0% $-698	+5% $-520	+10% $-343
Rate	-1.0pp $-471	-0.5pp $-583	base $-698	+0.5pp $-814	+1.0pp $-932

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
950 7th Ave S #23 Naples, FL	1.0	1.0	631	$3,250	$5.15	15d	1	0.04mi
980 7th Ave S Naples, FL	1.0	1.0	540	$7,500	$13.89	25d	2	0.06mi
655 8th Ave S Unit 1504166P Naples, FL	1.0	1.0	505	$5,346	$10.59	15d	1	0.25mi
960 7th St S #103 Naples, FL	1.0	1.0	534	$5,000	$9.36	25d	1	0.26mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	25d	1	0.36mi
540 4th Ave S #13 Naples, FL	1.0	1.0	580	$5,000	$8.62	25d	1	0.42mi
480 5th St S #102 Naples, FL	1.0	1.0	600	$6,500	$10.83	25d	1	0.46mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	25d	4	0.50mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	15d	4	0.50mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$3,000	$4.29	25d	2	0.56mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$2,500	$2.68	15d	2	0.57mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$2,800	$3.22	25d	2	0.58mi
291 8th Ave S Unit 291A Naples, FL	1.0	1.0	550	$3,900	$7.09	25d	1	0.59mi
1360 Chesapeake Ave Unit 1372 Naples, FL	1.0	1.0	600	$1,850	$3.08	25d	1	0.67mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	25d	2	0.69mi
1295 Gulf Shore Blvd S #218 Naples, FL	2.0	2.0	662	$10,479	$15.83	25d	1	0.83mi
1950 Mayfair ST Unit 817 Naples, FL	1.0	1.0	710	$3,295	$4.64	15d	1	0.84mi
1950 Mayfair ST Unit 1021 Naples, FL	1.0	1.0	710	$3,520	$4.96	15d	1	0.84mi
1950 Mayfair ST Unit 921 Naples, FL	1.0	1.0	710	$3,420	$4.82	15d	1	0.84mi
1950 Mayfair ST Unit 802 Naples, FL	1.0	1.0	710	$3,355	$4.73	15d	1	0.84mi
1950 Mayfair ST Unit 716 Naples, FL	1.0	1.0	710	$3,330	$4.69	15d	1	0.84mi
1950 Mayfair St Naples, FL	3.0	1.0–3.5	1514	$5,505	$3.63	15d	109	0.88mi
2134 Palm St Naples, FL	1.0	1.0	600	$7,500	$12.50	25d	1	1.02mi

HOA detail condo

• Monthly dues: $964 · $11,568/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-22
   days on market $449,000 Active 339 DOM
2. 2026-06-18
   days on market $449,000 Active 336 DOM
3. 2026-06-17
   days on market $449,000 Active 335 DOM
4. 2026-06-16
   days on market $449,000 Active 334 DOM
5. 2026-06-15
   days on market $449,000 Active 333 DOM
6. 2026-06-10
   days on market $449,000 Active 328 DOM
7. 2026-06-09
   days on market $449,000 Active 327 DOM
8. 2026-06-08
   days on market $449,000 Active 326 DOM
9. 2026-06-07
   days on market $449,000 Active 325 DOM
10. 2026-06-02
    days on market $449,000 Active 320 DOM
11. 2026-06-01
    days on market $449,000 Active 319 DOM
12. 2026-05-31
    days on market $449,000 Active 318 DOM
13. 2026-05-30
    days on market $449,000 Active 317 DOM
14. 2026-02-20
    price $449,000
15. 2025-12-23
    price $499,000
16. 2025-08-29
    price $550,000
17. 2025-07-17
    listed $575,000 Active
18. 2012-03-30
    soldstatus $270,000 582-char remark

    Show marketing remark (582 chars)

    Excellent Location! Completely Redone inside & out, offering a very large garden courtyard with brick pavers, river rock, soothing fountain- all forming a tropical retreat. A spacious, bright kitchen & living area with marble, custom cabinets & detailed woodwork masterfully created with an artistic flair that is different from the "average" condo. No restrictions, pets allowed, and extremely private. Only 1 block to 5th Ave, 1 block to Naples Bay & 8 blocks to the beach. Discover a secluded & charming cottage in the heart of Old Naples.

19. 2012-03-30
    soldstatus $270,000

    Show marketing remark (582 chars)

    Excellent Location! Completely Redone inside & out, offering a very large garden courtyard with brick pavers, river rock, soothing fountain- all forming a tropical retreat. A spacious, bright kitchen & living area with marble, custom cabinets & detailed woodwork masterfully created with an artistic flair that is different from the "average" condo. No restrictions, pets allowed, and extremely private. Only 1 block to 5th Ave, 1 block to Naples Bay & 8 blocks to the beach. Discover a secluded & charming cottage in the heart of Old Naples.

20. 2011-10-18
    listed $299,000 582-char remark

    Show marketing remark (582 chars)

    Excellent Location! Completely Redone inside & out, offering a very large garden courtyard with brick pavers, river rock, soothing fountain- all forming a tropical retreat. A spacious, bright kitchen & living area with marble, custom cabinets & detailed woodwork masterfully created with an artistic flair that is different from the "average" condo. No restrictions, pets allowed, and extremely private. Only 1 block to 5th Ave, 1 block to Naples Bay & 8 blocks to the beach. Discover a secluded & charming cottage in the heart of Old Naples.

ⓘ 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: $3,666 · $306/mo
• Projected year-2 tax: $3,727 · $311/mo
• Expected delta: +$61/yr (+$5/mo · 1.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,776
• − Mortgage interest: −$25,151
• − Property taxes: −$3,666
• − Insurance: −$7,364
• − Repairs & maintenance: −$4,302
• − Management: −$4,302
• − HOA: −$11,568
• − Depreciation: −$13,062
• Taxable loss: −$15,639
• Est. tax savings @ 24.0%: +$3,753
• After-tax cash flow: $-4,617/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

• Census place: Naples, FL
• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 11,179
• Household income: $130,929
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 333.0

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 9% Two or more races 8% Black 8% Asian 1%
• Hispanic origin (detail): Cuban 6%
• Common ancestry: Hispanic 4% Lithuanian 4% Romanian 4%
• Foreign-born: 17% · Canada, China
• Languages at home: 87% English-only · Spanish 7% French/Haitian/Cajun 4% German/W. Germanic 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: ▲ 4.08%
• Current HPI: 328.2755
• Rent YoY: ▲ 8.75%
• 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

+50.2% since first listed

7 events — show timeline

• 2026-02-20 Price Changed $449,000 NAPLESMLS
• 2025-12-23 Price Changed $499,000 NAPLESMLS
• 2025-08-29 Price Changed $550,000 NAPLESMLS
• 2025-07-17 Listed $575,000 NAPLESMLS
• 2012-03-30 Sold (Public Records) $270,000 Public Records
• 2012-03-30 Sold (MLS) $270,000 NAPLESMLS
• 2011-10-18 Listed $299,000 NAPLESMLS

Property tax history

+4.0%/yr

Latest (2025): $3,666 · +132.4% YoY. Source: county tax records.