6680 Ilex Cir Unit 3D · Pelican Marsh, FL 34109

$265,000

2 bd · 2.0 ba · 1,216 sqft · Condo · 245 Days on market

Built 1989 Good condition $652/mo HOA · 19% of rent ↓ 13% 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 +17.9/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0

Listing remarks

Discover this exceptional corner unit featuring 2 bedrooms plus a den and 2 full baths, ideally situated just minutes from Naples’ finest dining, shopping, schools, and beaches. Upon entering, you’ll be welcomed by an abundance of natural light that accentuates the modern finishes throughout this beautiful home. The gourmet kitchen is a chef's delight, equipped with sleek stainless steel appliances and elegant granite countertops. In the living room, you can unwind while savoring breathtaking lake views. The master suite boasts a spacious walk-in closet, dual vanities, a relaxing tub, and a walk-in shower. Added conveniences include a one-car garage, low HOA fees, and a new A/C

Key facts

• Dual vanities
• Walk-in closet
• Gourmet kitchen

Tags

• GOURMET KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• BREATHTAKING LAKE VIEWS
• WALK-IN CLOSET
• DUAL VANITIES

Property features AI

Finance

• Other: Subdivision: Walden Oaks / Barrington; Deeded restrictions: no commercial, no RV
• Financial info: Total annual recurring fees reported; Total one-time fees reported
• HOA & community: Mandatory HOA; Quarterly master HOA fee; Quarterly condo fee; Master HOA covers insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, management, exterior pest control, reserves, sewer, street lights, street maintenance, trash removal and water; Professional management; Community amenities include clubhouse, community pool, tennis court, pickleball, bike and jog path, bike storage, sidewalks, streetlights and BBQ/picnic area; Non-gated community; Total annual recurring fees provided

Exterior

• Parking: Detached 1-car garage
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1-3 stories); One story; Rear exposure faces north; Unit located in Barrington at Walden Oaks
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Built in 1989; Single-hung windows; Foundation details not provided
• Exterior features: Decorative shutters; Lake view / lake waterfront; Zero lot line; End-unit

Interior

• Kitchen: Cooktop (electric); Self-cleaning oven; Dishwasher; Disposal; Microwave; Refrigerator; Pantry; Breakfast bar / dining in living area
• Bedrooms: 2 bedrooms plus den; Walk-in closet (master)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and separate tub and shower; Guest bath
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Foyer; French doors; Pantry; Smoke detectors; Window coverings; Split bedrooms floor plan; Turnkey furnished
• Laundry & utility: Washer and dryer in residence; Auto garage door

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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 flat; 425 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 45% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $781 appreciation (0.3% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.29% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.05×
• Total profit: $3,562
• Equity at exit: $80,878

10-year hold

• IRR: 4.4%
• Equity multiple: 1.47×
• Total profit: $34,562
• Equity at exit: $100,414

Cash invested: $74,200 (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 34109

• Home prices YoY: 0.1%
• Rents YoY: 0.9%
• Active inventory: 425
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,426 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$652
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $223

Break-even live

Break-even rent $3,143

Max offer price $265,000

Occupancy floor 88%

Sensitivity live

Price	-10% $406	-5% $314	+0% $223	+5% $131	+10% $40
Rent	-10% $-48	-5% $87	+0% $223	+5% $358	+10% $493
Rate	-1.0pp $356	-0.5pp $290	base $223	+0.5pp $154	+1.0pp $84

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6654 Tannin Ln Unit B Naples, FL	2.0	2.0	1441	$3,100	$2.15	24d	1	0.18mi
3035 Horizon Ln #2206 Naples, FL	2.0	2.0	1246	$6,000	$4.82	24d	1	0.40mi
2731 Citrus Lake Dr #202 Naples, FL	2.0	2.0	1260	$2,500	$1.98	15d	1	0.44mi
2711 Citrus Lake Dr Unit F305 Naples, FL	3.0	2.0	1480	$5,500	$3.72	15d	1	0.45mi
2711 Citrus Lake Dr Unit F302 Naples, FL	2.0	2.0	1272	$4,500	$3.54	15d	1	0.45mi
2651 Citrus Lake Dr Unit D302 Naples, FL	2.0	2.0	1250	$5,000	$4.00	15d	1	0.46mi
2602 Fountain View Cir Naples, FL	1.0–2.0	1.0–2.0	995	$2,277	$2.29	15d	41	0.46mi
3051 Horizon Ln #1803 Naples, FL	2.0	2.0	1482	$5,100	$3.44	24d	1	0.46mi
2671 Citrus Lake Dr Unit E-303 Naples, FL	2.0	2.0	1380	$3,500	$2.54	15d	1	0.46mi
2671 Citrus Lake Dr Unit E-201 Naples, FL	3.0	2.0	1380	$5,250	$3.80	15d	1	0.46mi
2277 Arbour Walk Cir Naples, FL	1.0–2.0	1.0–2.0	937	$2,540	$2.71	15d	25	0.48mi
3015 Horizon Ln #2702 Naples, FL	3.0	2.0	1399	$1,790	$1.28	24d	1	0.50mi
2226 Arbour Walk Cir #1913 Naples, FL	1.0	1.0	740	$1,475	$1.99	24d	1	0.55mi
2885 Citrus Lake Dr Unit N103 Naples, FL	2.0	2.0	1249	$5,250	$4.20	15d	1	0.56mi
3009 Driftwood Way #2802 Naples, FL	3.0	2.0	1399	$2,000	$1.43	24d	1	0.56mi
3017 Driftwood Way #3001 Naples, FL	3.0	2.0	1385	$5,000	$3.61	24d	1	0.58mi
3025 Driftwood Way #3203 Naples, FL	2.0	2.0	1248	$3,900	$3.12	24d	1	0.62mi
2864 Mizzen Way Unit Y106 Naples, FL	2.0	2.0	1350	$5,200	$3.85	15d	1	0.62mi
3029 Driftwood Way #3303 Naples, FL	2.0	2.0	1248	$4,000	$3.21	24d	1	0.63mi
7287 Mill Pond Cir Naples, FL	3.0	2.0	1355	$3,800	$2.80	24d	1	0.67mi
2118 Arbour Walk Cir Naples, FL	1.0	1.0	750	$1,300	$1.73	24d	1	0.67mi
3037 Driftwood Way #3505 Naples, FL	2.0	2.0	1248	$2,500	$2.00	24d	1	0.68mi
2608 Sailors Way #122 Naples, FL	2.0	2.0	1387	$5,500	$3.97	24d	1	0.69mi
2130 Arbour Walk Cir #2724 Naples, FL	2.0	2.0	1022	$1,800	$1.76	24d	1	0.71mi
7416 Plumbago Bridge Rd #103 Naples, FL	2.0	2.0	1223	$2,400	$1.96	15d	1	0.74mi
2516 Orchid Bay Dr #203 Naples, FL	2.0	2.0	1360	$4,750	$3.49	24d	1	0.81mi
2070 Arbour Walk Cir #3214 Naples, FL	1.0	1.0	760	$1,600	$2.11	22d	1	0.82mi
2058 Arbour Walk Cir #3322 Naples, FL	2.0	2.0	918	$2,000	$2.18	24d	1	0.82mi
2460 Old Groves Rd Unit E102 Naples, FL	2.0	2.0	1226	$2,400	$1.96	15d	1	0.83mi
7546 Mill Pond Cir Naples, FL	3.0	2.0	1373	$6,500	$4.73	24d	1	0.89mi
7518 Silver Trumpet Ln Unit Q102 Naples, FL	2.0	2.0	1300	$2,600	$2.00	15d	1	0.90mi
2585 Old Groves Rd Unit L203 Naples, FL	2.0	2.0	1448	$5,500	$3.80	15d	1	0.96mi
7800 Emerald Cir Unit B104 Naples, FL	2.0	2.0	1022	$2,200	$2.15	15d	1	0.96mi
7800 Emerald Cir #104 Naples, FL	2.0	2.0	1022	$2,200	$2.15	22d	1	0.96mi
7794 Emerald Cir Unit A-102 Naples, FL	2.0	2.0	1022	$4,000	$3.91	15d	1	0.97mi
7791 Esmeralda Way #203 Naples, FL	2.0	2.0	1022	$1,950	$1.91	15d	1	1.00mi
7778 Emerald Cir #104 Naples, FL	3.0	2.0	1199	$2,300	$1.92	22d	1	1.04mi
7778 Emerald Cir #204 Naples, FL	3.0	2.0	1199	$6,750	$5.63	15d	1	1.04mi
3304 Lisa Ln Unit 102 Naples, FL	2.0	2.5	1272	$2,350	$1.85	15d	1	1.05mi
7712 Jewel Ln Naples, FL	2.0	2.0	1022	$1,850	$1.81	24d	1	1.08mi

HOA detail condo

• Monthly dues: $652 · $7,824/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $265,000 Active 245 DOM
2. 2026-06-17
   days on market $265,000 Active 244 DOM
3. 2026-06-16
   pricedays on market $265,000 Active 243 DOM
4. 2026-06-15
   days on market $275,000 Active 242 DOM
5. 2026-06-10
   days on market $275,000 Active 237 DOM
6. 2026-06-09
   days on market $275,000 Active 236 DOM
7. 2026-06-08
   days on market $275,000 Active 235 DOM
8. 2026-06-07
   days on market $275,000 Active 234 DOM
9. 2026-06-03
   days on market $275,000 Active 230 DOM
10. 2026-06-03
    remarks 687-char remark
11. 2026-06-03
    listed $275,000 Active 229 DOM

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $41,106
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,288
• − Management: −$3,288
• − HOA: −$7,824
• − Depreciation: −$7,709
• Taxable loss: −$1,148
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $2,949/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This well-maintained townhouse is move-in ready with modern finishes and a good condition score. It offers a great value for both resale and rental markets.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Replace carpet — Improves comfort and reduces maintenance

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Replace carpet — Improves comfort and reduces maintenance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Pelican Marsh

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): 27,273
• Household income: $92,259
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1712.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 9% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 5% Russian/Polish/Slavic 3%

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: ▲ 0.29%
• Current HPI: 279.357
• Rent YoY: ▲ 0.92%
• 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

-12.7% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $275,000 NAPLESMLS
• 2026-04-28 Price Changed $280,000 NAPLESMLS
• 2026-04-10 Price Changed $290,000 NAPLESMLS
• 2025-11-24 Price Changed $299,000 NAPLESMLS
• 2025-10-16 Listed $315,000 NAPLESMLS