9 Pearl Dr Unit 9P · Winding Cypress, FL 34114

$94,000

1 bd · 1.0 ba · 720 sqft · Manufactured · 100 Days on market

Built 1991 Good condition $163/mo HOA ↓ 16% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Appreciation +4.3/10.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0

Listing remarks

This listing is for a charming home located in the beautiful Enchanting Shores 55+ co-op community, along with the lot that it sits on. 1 bedroom, 1 bathroom home with new AC unit and recent updates throughout. The monthly HOA is very low and includes water, landscaping and access to all the community amenities and functions. The community boasts a heated pool, clubhouse, library, billiard room, pickleball and tennis courts, bocce ball, and a boat launch. We have our own boat launch and dock right on Henderson Creek, which provides direct access to the Gulf. Boat storage is also available on site at a very reasonable yearly cost. Throughout the winter season there are many clubs and activit

Key facts

• Clubhouse
• Pickleball courts
• Tennis courts

Tags

• HEATED POOL
• CLUBHOUSE
• LIBRARY
• BILLIARD ROOM
• PICKLEBALL COURTS
• TENNIS COURTS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Homeowners association (quarterly fee); Association fee covers management, irrigation water, grounds maintenance, recreation facilities, road maintenance, street lights, and water; Community amenities include clubhouse, pool, tennis courts, pickleball, bocce, basketball court, shuffleboard, boat dock and ramp, pier, RV/boat storage, boat facilities, trails, barbecue/picnic areas, hobby room, library, laundry, vehicle wash area, and street lights; Senior community

Exterior

• Parking: Attached carport; 2 covered spaces; Driveway (paved)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Underground utilities; Public maintained road
• Home design: Single-story; Manufactured/brick/vinyl siding construction; Faces north; Raised foundation; Resale property
• Construction: Rolled/hot mop roof
• Exterior features: Deck; Patio; Fruit trees; Storage; Outbuilding; Community pool

Interior

• Kitchen: Microwave; Range; Self-cleaning oven; Refrigerator; Freezer; Dishwasher
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s); Humidity control
• Interior features: Furnished; Breakfast area; Closet cabinetry; Custom mirrors; Bar; Window treatments; High speed internet; Double-hung windows; Shutters
• Laundry & utility: Washer; Dryer; Laundry inside; Common area laundry

🏢 Co-op / cooperative unit. The $94,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $94k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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 rising (+3.2%/yr); 900 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).

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $650 of loan paydown is wiped out by about $1k 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 (-1.5% appreciation + 3.2% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,540 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.13% ✓
• Cap rate: 16.11%
• Cash-on-cash: 35.06%
• DSCR: 2.56
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.48% appreciation · 3.21% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.51×
• Total profit: $13,532
• Equity at exit: $20,540

10-year hold

• IRR: 18.8%
• Equity multiple: 2.86×
• Total profit: $48,833
• Equity at exit: $19,786

Cash invested: $26,320 (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 34114

• Home prices YoY: -0.6%
• Rents YoY: 3.2%
• Active inventory: 900
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,002 medium
• Mortgage (P&I): −$493
• Tax est. 1.5%: −$118 /mo · $1,410/yr
• Insurance: −$39
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$163
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $343

Break-even live

Break-even rent $1,569

Max offer price $94,000

Occupancy floor 78%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Rookery Bay Dr Naples, FL	1.0–3.0	1.0–2.0	929	$1,525	$1.64	23d	9	0.67mi

HOA detail

• Monthly dues: $163 · $1,956/yr
• Likely covers: waterlandscapingpool

Listing history 14 events

1. 2026-06-18
   days on market $94,000 Active 100 DOM
2. 2026-06-17
   days on market $94,000 Active 99 DOM
3. 2026-06-16
   days on market $94,000 Active 98 DOM
4. 2026-06-15
   days on market $94,000 Active 97 DOM
5. 2026-06-14
   days on market $94,000 Active 95 DOM
6. 2026-06-10
   days on market $94,000 Active 92 DOM
7. 2026-06-09
   days on market $94,000 Active 91 DOM
8. 2026-06-08
   days on market $94,000 Active 90 DOM
9. 2026-06-07
   days on market $94,000 Active 89 DOM
10. 2026-06-03
    days on market $94,000 Active 85 DOM
11. 2026-06-02
    days on market $94,000 Active 84 DOM
12. 2026-06-01
    days on market $94,000 Active 83 DOM
13. 2026-05-31
    remarks 699-char remark
14. 2026-05-31
    listed $94,000 Active 82 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 29 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: $24,025
• − Mortgage interest: −$5,265
• − Property taxes: −$1,410
• − Insurance: −$5,588
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − HOA: −$1,956
• − Depreciation: −$2,735
• Taxable income: $3,227
• Est. tax owed @ 24.0%: −$774
• After-tax cash flow: $3,336/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 75/100 Cosmetic rehab

This home is in good condition with recent updates and is located in a desirable community with amenities. It is ready for a new owner or tenant.

Value-add opportunities

• Resale Paint the exterior siding — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers.
• Rental Clean the air conditioning unit — A clean air conditioning unit ensures the home is comfortable for tenants and can help maintain a good rental record.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Rental Clean the air conditioning unit — A clean air conditioning unit ensures the home is comfortable for tenants and can help maintain a good rental record. ↑

ⓘ 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 — Winding Cypress

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): 23,559
• Household income: $89,334
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 550.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 13% Black 7%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 5% Romanian 4% Lithuanian 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 15% French/Haitian/Cajun 5% Other Indo-European 4%

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: ▼ -1.48%
• Current HPI: 266.5545
• Rent YoY: ▲ 3.21%
• 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

-16.1% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $94,000 FORTMLS
• 2026-03-23 Price Changed $99,000 FORTMLS
• 2026-03-10 Listed $112,000 FORTMLS