3100 Binnacle Dr #305 · Naples, FL 34103

$349,500

2 bd · 2.0 ba · 874 sqft · Condo public records · 328 Days on market

Built 1974 $900/mo HOA · 20% of rent

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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 +22.8/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rarely Available. This desirable third-floor, two-bedroom, two-bath condo is set within one of Naples’ most sought-after coastal communities. Where private beach access, mature streetscapes, and an unhurried Gulf Coast lifestyle continue to draw those seeking a quieter rhythm, without compromising proximity to Naples’ most iconic destinations. Portside Club, a boutique, 24-residence building, offers a calm vantage and naturally suited for both seasonal or year-round living. Eastern exposure brings the morning into full view, casting soft light across the open interior that extends from the entryway to your screened lanai overlooking Lake Suzanne and the pool below. Updated tile

Key facts

• Eastern exposure
• Screened lanai
• Private beach access

Tags

• PRIVATE BEACH ACCESS
• EASTERN EXPOSURE
• SCREENED LANAI
• UPDATED TILE FLOORING
• FULL INTERIOR REPAINT
• STAINLESS STEEL GE APPLIANCES

Property features AI

Finance

• Other: Subdivision/Development: MOORINGS, Portside Club (Sub Condo Name); Lot unit number 305; Paved road access; Property appraiser listed lot dimensions source; Deeded restrictions: architectural controls, no commercial, no RV, no truck
• Financial info: Part of a complex with 24 units (24 units in building), 3 units per floor, single-floor buildings; Total annual recurring fees referenced
• HOA & community: Quarterly condo fee; Condo fee listed quarterly; Professional management; Community amenities include private beach, beach club access, community pool, BBQ/picnic area, bike storage, extra storage, underground utilities, vehicle wash area, and internet access; Maintenance covered: insurance, irrigation water, laundry facilities, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserve, sewer, trash removal, water; One-time other fee listed; Non-gated community

Exterior

• Parking: 1 assigned parking space; Guest parking; Paved parking
• Security: Entry keypad
• Utilities: Water: central (assessment paid); Sewer: central (assessment paid); Cable available; Power: central electric
• Home design: Residential garden apartment in a low-rise (1–3) building; Split level / garden apartment design; Built in 1974; Concrete block construction; Stucco exterior finish; Built-up or flat roof; Rear exposure faces east; Zero lot line; Has lake frontage and lake view; Views include landscaped area and pool/club
• Construction: Concrete block construction; Stucco finish; Built-up or flat roof; Built in 1974; Garden apartment / low-rise building
• Exterior features: Outdoor shower; Patio; Pond on the property; Automatic sprinkler (central); Exterior storage; Impact resistant windows and doors; Entry keypad

Interior

• Kitchen: Pantry; Electric cooktop; Self-cleaning oven; Microwave; Dishwasher; Refrigerator/freezer
• Bedrooms: 2 bedrooms with a split bedroom floor plan
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Closet cabinets; High-speed internet available; Pantry; Smoke detectors; Window coverings; Common elevator; Dining area open to living room; Screened lanai/porch; Guest room and guest bath
• Laundry & utility: Common laundry facilities

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $308k (12.0% 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.
• Zoned schools: Sea Gate Elementary School (math 86% / reading 81%, grade A+, #60 of 2,144 statewide, top 3%, 703 students, 26% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 32% FRL vs 55% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+14.6%/yr); 479 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $4,556/mo this rent would consume 47% of the median local household income ($117k/yr) (locally 311% 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 $10k 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 + 8.0% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 328 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $76k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $162k; list at $350k implies a 116% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 328 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.30% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $2,304
• Equity at exit: $52,112

10-year hold

• IRR: 15.5%
• Equity multiple: 2.61×
• Total profit: $157,763
• Equity at exit: $30,218

Cash invested: $97,860 (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 34103

• Rents YoY: 14.6%
• Active inventory: 479
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $4,556 medium
• Mortgage (P&I): −$1,833
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$900
• Vacancy / Maint / Mgmt: −$957
• Net cashflow: $540

Break-even live

Break-even rent $3,872

Max offer price $349,500

Occupancy floor 83%

Sensitivity live

Price	-10% $738	-5% $639	+0% $540	+5% $441	+10% $342
Rent	-10% $180	-5% $360	+0% $540	+5% $720	+10% $900
Rate	-1.0pp $716	-0.5pp $629	base $540	+0.5pp $450	+1.0pp $357

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: $87,375
• Closing costs: $10,485
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3030 Binnacle Dr #201 Naples, FL	2.0	2.0	1092	$5,000	$4.58	24d	1	0.04mi
820 Ketch Dr #3 Naples, FL	2.0	2.0	1100	$5,500	$5.00	24d	1	0.13mi
820 Ketch Dr #2 Naples, FL	2.0	2.0	1100	$5,700	$5.18	24d	1	0.13mi
45 High Point Cir S #303 Naples, FL	2.0	2.0	1015	$5,500	$5.42	24d	1	0.46mi
788 Park Shore Dr Naples, FL	1.0–2.0	1.5–2.0	931	$5,500	$5.90	14d	3	0.46mi
333 Harbour Dr #211 Naples, FL	2.0	2.0	975	$5,500	$5.64	14d	1	0.54mi
3200 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1116	$8,500	$7.62	24d	1	0.69mi
2170 Gulf Shore Blvd N Unit 41E Naples, FL	1.0	1.0	682	$6,000	$8.80	24d	1	0.94mi
600 Neapolitan Way Naples, FL	1.0–2.0	2.0	832	$5,200	$6.25	24d	2	1.04mi
1950 Gulf Shore Blvd N Naples, FL	2.0	2.0	1060	$7,250	$6.84	24d	2	1.13mi
2011 Gulf Shore Blvd N #45 Naples, FL	2.0	2.0	1100	$8,500	$7.73	24d	1	1.18mi
1910 Gulf Shore Blvd N Naples, FL	2.0	2.0	1290	$9,200	$7.13	24d	2	1.18mi
4523 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	24d	1	1.31mi
4525 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	24d	1	1.31mi
1550 Gulf Shore Blvd N Unit E6 Naples, FL	1.0	1.0	817	$7,000	$8.57	14d	1	1.43mi
1550 Gulf Shore Blvd N Unit E6 Naples, FL	1.0	1.0	817	$7,000	$8.57	22d	1	1.43mi

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $349,500 Active 328 DOM
2. 2026-06-17
   days on market $349,500 Active 327 DOM
3. 2026-06-16
   days on market $349,500 Active 326 DOM
4. 2026-06-15
   days on market $349,500 Active 325 DOM
5. 2026-06-10
   days on market $349,500 Active 320 DOM
6. 2026-06-09
   days on market $349,500 Active 319 DOM
7. 2026-06-08
   days on market $349,500 Active 318 DOM
8. 2026-06-07
   days on market $349,500 Active 317 DOM
9. 2026-06-02
   days on market $349,500 Active 312 DOM
10. 2026-06-01
    days on market $349,500 Active 311 DOM
11. 2026-05-31
    days on market $349,500 Active 310 DOM
12. 2026-05-30
    days on market $349,500 Active 309 DOM
13. 2026-05-15
    price $349,500
14. 2026-05-15
    status Active
15. 2026-05-13
    historical
16. 2026-01-21
    price $375,000
17. 2025-11-10
    price $410,000
18. 2025-07-23
    listed $425,000 Active
19. 2003-06-13
    soldstatus $162,000
20. 2003-04-21
    soldstatus $145,500

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $2,901 · $242/mo
• Expected delta: +$1,532/yr (+$128/mo · 112.0%)

ⓘ 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) · 74% 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: $54,668
• − Mortgage interest: −$19,577
• − Property taxes: −$1,368
• − Insurance: −$2,545
• − Repairs & maintenance: −$4,373
• − Management: −$4,373
• − HOA: −$10,800
• − Depreciation: −$10,167
• Taxable income: $1,463
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $6,130/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): 11,299
• Household income: $116,875
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 311.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Portuguese 2%
• Foreign-born: 13% · Canada
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -327.53%
• Current HPI: 315.1396
• Rent YoY: ▲ 14.55%
• 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

+140.2% since first listed

8 events — show timeline

• 2026-05-15 Price Changed $349,500 NAPLESMLS
• 2026-05-15 Relisted — NAPLESMLS
• 2026-05-13 Listing Removed — NAPLESMLS
• 2026-01-21 Price Changed $375,000 NAPLESMLS
• 2025-11-10 Price Changed $410,000 NAPLESMLS
• 2025-07-23 Listed $425,000 NAPLESMLS
• 2003-06-13 Sold (Public Records) $162,000 Public Records
• 2003-04-21 Sold (Public Records) $145,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,368 · +2.6% YoY. Source: county tax records.