184 Vintage Cir Unit N201 · Vineyards, FL 34119

$379,900

3 bd · 2.0 ba · 1,774 sqft · Condo · 86 Days on market

Built 1998 Good condition $959/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 +16.7/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the gated community of Concord at Vineyards, this condo offers a comfortable and easy lifestyle right in the heart of Naples. With over 1,700 square feet, the layout feels open and spacious, featuring 3 bedrooms, 2 bathrooms, and a one-car garage. One of the highlights is the screened lanai overlooking the lake, perfect for your morning coffee or unwinding in the evening with a peaceful view. The community itself is quiet and well cared for, with amenities that include a waterfront pool and spa, clubhouse, fitness center, and walking and biking paths throughout. The HOA covers cable, water, and landscaping, making it very low maintenance. If you’re looking for more, optiona

Key facts

• Gated community
• Fitness center
• Screened lanai

Tags

• GATED COMMUNITY
• SCREENED LANAI
• WATERFRONT POOL
• FITNESS CENTER
• WALKING AND BIKING PATHS
• NEW ROOF

Property features AI

Finance

• Financial info: Total annual recurring fees and specific HOA fee amounts provided
• HOA & community: Mandatory HOA (Condo management); Quarterly HOA fee; HOA covers cable, internet/WiFi, lawn/land maintenance, legal/accounting, management, exterior pest control, recreation facilities, reserves, sewer, street lights, street maintenance, trash removal and water; Community amenities include clubhouse, community pool, community spa/hot tub, exercise room, community room, BBQ/picnic area, bike and jog path, sidewalks and streetlights; Gated community; Total annual recurring fees listed

Exterior

• Parking: Attached 1-car garage; Paved driveway
• Security: Gated community; Entry card; Entry keypad
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential carriage/coach end-unit; Low-rise building (1–3 stories); 2-story floor plan; Built in 1998; Located in the Vineyards community
• Construction: Concrete block construction; Tile roof; Double-hung windows
• Exterior features: Lake view; Has waterfront (lake); Zero lot line; Screened lanai/porch; Rear exposure facing east

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms (including master suite)
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: See remarks; Screened lanai/porch; Breakfast bar and breakfast room; Laundry in residence; Negotiable furnishings
• Laundry & utility: Washer/Dryer hookup; Laundry inside the residence

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $380k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $380k).
• Recommended offer: $357k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#679 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: health & safety D, amenities F, commute 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: Vineyards Elementary School (math 79% / reading 75%, grade A, #170 of 2,144 statewide, top 9%, 845 students, 27% FRL); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL) — zoned schools average 26% FRL vs 55% district-wide (29 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 71% at this address vs 58% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-2.5%/yr); 586 active listings in the ZIP; 40 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 $4,834/mo this rent would consume 51% of the median local household income ($113k/yr) (locally 741% 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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($357k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $357,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.27% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.43×
• Total profit: $-60,114
• Equity at exit: $56,644

10-year hold

• IRR: -18.0%
• Equity multiple: 0.20×
• Total profit: $-85,156
• Equity at exit: $32,847

Cash invested: $106,372 (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 34119

• Rents YoY: -2.5%
• Active inventory: 586
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $4,834 high
• Mortgage (P&I): −$1,992
• Tax est. 1.5%: −$475 /mo · $5,698/yr
• Insurance: −$158
• HOA: −$959
• Vacancy / Maint / Mgmt: −$1,015
• Net cashflow: $235

Break-even live

Break-even rent $4,537

Max offer price $379,900

Occupancy floor 90%

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
172 Vintage Cir #202 Naples, FL	3.0	2.0	1774	$5,195	$2.93	14d	1	0.06mi
200 Vintage Cir Unit D304 Naples, FL	3.0	2.0	1492	$2,800	$1.88	14d	1	0.07mi
210 Vintage Cir Unit C401 Naples, FL	3.0	2.0	1520	$6,500	$4.28	14d	1	0.08mi
155 Vintage Cir #103 Naples, FL	2.0	2.0	1500	$5,000	$3.33	14d	1	0.11mi
230 Vintage Cir Unit A-404 Naples, FL	2.0	2.0	1290	$5,000	$3.88	14d	1	0.13mi
224 Via Perignon Unit 5-4 Naples, FL	2.0	2.5	2085	$6,000	$2.88	21d	1	0.14mi
106 Siena Way #1508 Naples, FL	2.0	2.0	1414	$4,500	$3.18	23d	1	0.21mi
89 Silver Oaks Cir #5103 Naples, FL	2.0	2.0	1373	$2,800	$2.04	21d	1	0.21mi
271 Perignon Pl Unit 16-1 Naples, FL	2.0	2.0	1449	$2,700	$1.86	23d	1	0.22mi
104 Siena Way #1407 Naples, FL	2.0	2.0	1450	$7,000	$4.83	23d	1	0.24mi
57 Silver Oaks Cir #13103 Naples, FL	2.0	2.0	1373	$5,000	$3.64	21d	1	0.25mi
103 Tuscana Ct #1107 Naples, FL	2.0	2.0	1412	$5,000	$3.54	23d	1	0.26mi
102 Tuscana Ct #901 Naples, FL	2.0	2.0	1631	$2,300	$1.41	23d	1	0.27mi
56 Silver Oaks Cir Unit 102 Naples, FL	2.0	2.0	1373	$4,500	$3.28	14d	1	0.28mi
152 Napa Ridge Way Naples, FL	3.0	2.0	1775	$7,000	$3.94	23d	1	0.30mi
6025 Chardonnay Ln Unit 1Unit 102 Naples, FL	2.0	2.0	1414	$2,195	$1.55	23d	1	0.40mi
6260 Bellerive Ave #402 Naples, FL	3.0	2.0	1708	$7,000	$4.10	21d	1	0.43mi
5950 Almaden Dr Naples, FL	3.0	2.0	1762	$6,500	$3.69	23d	1	0.50mi
116 Fountain Cir Naples, FL	3.0	2.0	1561	$4,500	$2.88	23d	1	0.53mi
6115 Reserve Cir #2004 Naples, FL	3.0	3.0	2337	$7,000	$3.00	21d	1	0.58mi
515 Laguna Royale Blvd #102 Naples, FL	3.0	2.0	1900	$2,995	$1.58	14d	1	0.79mi
1205 Reserve Way #302 Naples, FL	3.0	2.0	1239	$2,300	$1.86	14d	1	0.80mi
575 El Camino Real Unit 6 Naples, FL	2.0	2.0	2050	$3,700	$1.80	14d	1	0.91mi
1303 Verde Dr Unit 1603 Naples, FL	3.0	2.0	1877	$2,500	$1.33	14d	1	0.92mi
1299 Verde Dr Unit 1503 Naples, FL	3.0	2.0	1744	$4,200	$2.41	14d	1	0.94mi
1105 Reserve Ct #307 Naples, FL	3.0	2.0	1239	$1,995	$1.61	14d	1	0.94mi
580 El Camino Real #3805 Naples, FL	2.0	2.0	1772	$13,500	$7.62	23d	1	0.95mi
1256 Carpazi Ct Unit 502 Naples, FL	3.0	2.0	1744	$2,495	$1.43	14d	1	1.06mi
1256 Carpazi Ct #502 Naples, FL	3.0	2.0	1744	$2,495	$1.43	23d	1	1.06mi
6941 Hunters Rd Naples, FL	4.0	2.0	1866	$7,500	$4.02	23d	1	1.15mi
734 Regency Reserve Cir #2701 Naples, FL	2.0	2.0	2058	$7,900	$3.84	23d	1	1.20mi
730 Regency Reserve Cir #2802 Naples, FL	2.0	2.0	2050	$8,000	$3.90	23d	1	1.21mi
12914 Brynwood Preserve Ln Naples, FL	2.0	2.0	1720	$7,000	$4.07	23d	1	1.25mi
12885 Brynwood Way Naples, FL	3.0	3.0	2489	$10,000	$4.02	23d	1	1.26mi
12902 Brynwood Preserve Ln Naples, FL	3.0	3.0	2100	$7,500	$3.57	23d	1	1.27mi
836 Hampton Cir #171 Naples, FL	3.0	2.5	1580	$5,000	$3.16	21d	1	1.28mi
836 Hampton Cir #171 Naples, FL	3.0	2.5	1580	$5,000	$3.16	23d	1	1.28mi
713 Regency Reserve Cir #5901 Naples, FL	2.0	2.0	2050	$3,295	$1.61	14d	1	1.29mi
713 Regency Reserve Cir #5902 Naples, FL	3.0	2.0	2050	$7,200	$3.51	23d	1	1.29mi
709 Regency Reserve Cir #6003 Naples, FL	3.0	3.5	2494	$7,900	$3.17	23d	1	1.30mi

HOA detail condo

• Monthly dues: $959 · $11,508/yr
• Likely covers: watercablelandscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $379,900 Active 86 DOM
2. 2026-06-17
   days on market $379,900 Active 85 DOM
3. 2026-06-16
   days on market $379,900 Active 84 DOM
4. 2026-06-15
   days on market $379,900 Active 83 DOM
5. 2026-06-14
   pricedays on market $379,900 Active 81 DOM
6. 2026-06-10
   days on market $399,750 Active 78 DOM
7. 2026-06-09
   days on market $399,750 Active 77 DOM
8. 2026-06-08
   days on market $399,750 Active 76 DOM
9. 2026-06-07
   days on market $399,750 Active 75 DOM
10. 2026-06-03
    days on market $399,750 Active 71 DOM
11. 2026-06-03
    remarks 693-char remark
12. 2026-06-03
    listed $399,750 Active 70 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $58,012
• − Mortgage interest: −$21,280
• − Property taxes: −$5,698
• − Insurance: −$1,900
• − Repairs & maintenance: −$4,641
• − Management: −$4,641
• − HOA: −$11,508
• − Depreciation: −$11,052
• Taxable loss: −$2,707
• Est. tax savings @ 24.0%: +$650
• After-tax cash flow: $3,467/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 well-maintained and updated condo in a gated community offers a comfortable and easy lifestyle with a spacious layout and a serene lake view. Minor exterior painting and landscaping improvements can further enhance its appeal and value.

Value-add opportunities

• Resale Painting the exterior walls — Enhances curb appeal and can increase the home's value.
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase rental income.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior walls — Enhances curb appeal and can increase the home's value. ↑
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase rental income. ↑

ⓘ 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 — Vineyards

• Score: 64/100
• State rank: #679
• US rank: #14101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineyards, FL
• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 36,807
• Household income: $113,391
• Rent vs Own: 16.4% rent · 83.6% own
• Severe rent burden: 741.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 17% · Canada, Jamaica, Dominican Republic
• Languages at home: 78% English-only · Spanish 15% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -243.12%
• Current HPI: 269.3208
• Rent YoY: ▼ -2.51%
• 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

1 event — show timeline

• 2026-03-24 Listed $399,750 NAPLESMLS