2155 San Marco Rd Unit 2-204 · Marco Island, FL 34145

$249,985

2 bd · 2.0 ba · 948 sqft · Condo public records · 5 Days on market

Built 1985 $980/mo HOA · 25% 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 +23.9/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

IMPACT WINDOWS – NEW ROOF – PRIME MARCO ISLAND LOCATION! Discover the perfect blend of value, comfort, and location with this 2-bedroom, 2-bath condo in the heart of Marco Island—offered for under $250K! This residence presents a rare opportunity to own a piece of paradise at an affordable price, whether you’re an investor seeking strong annual rental potential or a first-time homebuyer dreaming of island living. Step inside and find a bright and inviting interior designed for low-maintenance living. The condo features impact-resistant windows, a new roof, and a freshly updated stucco exterior, offering both peace of mind and modern curb appeal. Each bedroom provides

Key facts

• Community pool
• Private balcony
• New roof

Tags

• IMPACT WINDOWS
• NEW ROOF
• UPDATED STUCCO EXTERIOR
• PRIVATE BALCONY
• COMMUNITY POOL
• ASSIGNED PARKING SPACE

Property features AI

Finance

• HOA & community: Mandatory HOA with professional management; Community pool; Non-gated community; Monthly condo fee of $961; Annual recurring HOA fees approximately $11,532; One-time fees approximately $300; HOA maintenance covers cable, insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserves, sewer and water

Exterior

• Parking: 1 assigned parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1-3 stories); 2-story end unit; Rear exposure faces east; Unit located in The Estuary at Marco (Estuary I), Unit 204
• Construction: Concrete block and wood frame construction; Built in 1985; Architectural-planned lot dimensions
• Exterior features: Stucco exterior; Double-hung windows; Shingle roof; Pool/club view; Central irrigation; No RV allowed

Interior

• Kitchen: Electric cooktop; Self-cleaning oven / range; Dishwasher; Disposal; Microwave; Refrigerator/freezer
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower (no tub)
• Heating & cooling: Central electric heating; Central electric air conditioning; Ceiling fans
• Interior features: High-speed internet available; Smoke detectors; Dining area integrated with living room; Screened lanai/porch; Turnkey furnished; Split-bedroom floor plan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $57 ($688/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).

Location & tenants

• Location reads 71/100 on livability (#404 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, commute F, 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: Tommie Barfield Elementary School (math 84% / reading 75%, grade A, #116 of 2,144 statewide, top 6%, 464 students, 30% FRL); Manatee Middle School (math 61% / reading 43%, grade C+, #217 of 571 statewide, top 40%, 749 students, 64% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 689 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,851/mo this rent would consume 46% of the median local household income ($102k/yr) (locally 314% 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 $8k 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 + 6.6% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $155k; list at $250k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,985

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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.
7. 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.
8. 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: 1.54% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.69×
• Total profit: $-21,615
• Equity at exit: $37,274

10-year hold

• IRR: 7.9%
• Equity multiple: 1.76×
• Total profit: $52,925
• Equity at exit: $21,614

Cash invested: $69,996 (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 34145

• Rents YoY: 6.6%
• Active inventory: 689
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,851 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$163 /mo · $1,957/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$980
• Vacancy / Maint / Mgmt: −$809
• Net cashflow: $57

Break-even live

Break-even rent $3,778

Max offer price $249,985

Occupancy floor 94%

Sensitivity live

Price	-10% $199	-5% $128	+0% $57	+5% $-13	+10% $-84
Rent	-10% $-247	-5% $-95	+0% $57	+5% $209	+10% $362
Rate	-1.0pp $183	-0.5pp $121	base $57	+0.5pp $-7	+1.0pp $-73

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: $62,496
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2235 San Marco Rd Unit 5-204 Marco Island, FL	2.0	2.0	948	$2,100	$2.22	15d	1	0.02mi

HOA detail condo

• Monthly dues: $980 · $11,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $249,985 Active 5 DOM
2. 2026-06-18
   days on market $249,985 Active 2 DOM
3. 2026-06-16
   pricedays on marketlisting id $249,985 Active 1 DOM
4. 2026-05-30
   days on market $249,895 Active 205 DOM
5. 2026-01-07
   price $249,895
6. 2025-11-06
   listed $249,995 Active
7. 2025-07-25
   historical
8. 2025-05-10
   price $245,000
9. 2025-05-10
   price $245,000
10. 2025-03-05
    listed $267,000 Active
11. 2025-03-05
    listed $267,000 Active
12. 2025-02-28
    historical
13. 2025-01-08
    listed $299,000 Active
14. 2025-01-08
    listed $299,000 Active
15. 2024-12-31
    historical
16. 2024-08-30
    price $310,000
17. 2024-08-30
    price $310,000
18. 2024-06-24
    price $329,000
19. 2024-06-24
    price $329,000
20. 2024-06-21
    listed $319,900 Active
21. 2024-06-21
    listed $319,900 Active
22. 2020-02-27
    soldstatus $155,000
23. 2020-02-14
    soldstatus $155,000 Sold
24. 2020-01-09
    status Pending
25. 2019-08-01
    price $164,900
26. 2019-03-12
    listed $175,000 Active
27. 2016-08-05
    soldstatus $160,000
28. 2014-11-10
    soldstatus $105,000
29. 2000-07-19
    soldstatus $82,500
30. 1992-04-01
    soldstatus $70,500

ⓘ 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: $1,957 · $163/mo
• Projected year-2 tax: $2,075 · $173/mo
• Expected delta: +$118/yr (+$10/mo · 6.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $46,208
• − Mortgage interest: −$14,003
• − Property taxes: −$1,957
• − Insurance: −$6,368
• − Repairs & maintenance: −$3,697
• − Management: −$3,697
• − HOA: −$11,760
• − Depreciation: −$7,272
• Taxable loss: −$2,545
• Est. tax savings @ 24.0%: +$611
• After-tax cash flow: $1,299/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 — Marco Island

• Score: 71/100
• State rank: #404
• US rank: #7149

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing B- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marco Island, FL
• County: Collier County · 396,295 people
• City population: 16,205
• Metro: Naples-Marco Island, FL
• Population (ZIP): 16,205
• Household income: $101,523
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 314.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -374.55%
• Current HPI: 284.7538
• Rent YoY: ▲ 6.59%
• 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

+254.5% since first listed

26 events — show timeline

• 2026-01-07 Price Changed $249,895 NAPLESMLS
• 2025-11-06 Listed $249,995 NAPLESMLS
• 2025-07-25 Listing Removed — NAPLESMLS
• 2025-05-10 Price Changed $245,000 NAPLESMLS
• 2025-05-10 Price Changed $245,000 MIML
• 2025-03-05 Listed $267,000 NAPLESMLS
• 2025-03-05 Listed $267,000 MIML
• 2025-02-28 Listing Removed — NAPLESMLS
• 2025-01-08 Listed $299,000 MIML
• 2025-01-08 Listed $299,000 NAPLESMLS
• 2024-12-31 Listing Removed — NAPLESMLS
• 2024-08-30 Price Changed $310,000 NAPLESMLS
• 2024-08-30 Price Changed $310,000 MIML
• 2024-06-24 Price Changed $329,000 NAPLESMLS
• 2024-06-24 Price Changed $329,000 MIML
• 2024-06-21 Listed $319,900 NAPLESMLS
• 2024-06-21 Listed $319,900 MIML
• 2020-02-27 Sold (Public Records) $155,000 Public Records
• 2020-02-14 Sold (MLS) $155,000 NAPLESMLS
• 2020-01-09 Pending — NAPLESMLS
• 2019-08-01 Price Changed $164,900 NAPLESMLS
• 2019-03-12 Listed $175,000 NAPLESMLS
• 2016-08-05 Sold (Public Records) $160,000 Public Records
• 2014-11-10 Sold (Public Records) $105,000 Public Records
• 2000-07-19 Sold (Public Records) $82,500 Public Records
• 1992-04-01 Sold (Public Records) $70,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,957 · +4.1% YoY. Source: county tax records.