550 Captn Kate Ct #22 · Naples Park, FL 34110

$695,000

3 bd · 2.0 ba · 1,486 sqft · Condo public records · 430 Days on market

Built 1999 $417/mo HOA · 7% of rent

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

V. 1519 - Like new. Wonderful southern exposure in this 3/2 villa home with 2 car garage and private pool. Light & bright with large tile flooring in Kitchen, great room & 3rd bedroom and new designer carpet in master & 2nd guest bedroom. 3rd bedroom is perfect as a den/office too. Private sparkling pool has new heater and beautiful lanscaping makes this a great buy. Have peace of mind because this home has Electric Hurricane Shutters for storm protection & extra security when away. Easy walk or bike to the beach, less than a mile. Close to everything but quiet lakefront location. Oversized attached 2 car garage. Mr & Mrs clean vacationed here and have meticulously maintained this home. Satelite dish too! A must see.

Key facts

• Southern exposure
• Beautiful lake view
• Fountain

Tags

• PRIVATE SWIMMING POOL
• NEW ROOF
• ELECTRIC HURRICANE SHUTTERS
• SOUTHERN EXPOSURE
• BEAUTIFUL LAKE VIEW
• FOUNTAIN

Property features AI

Finance

• Other: Property is part of a complex with 55 units (2 units per building); Possession at closing
• HOA & community: Mandatory HOA; Quarterly HOA fee of $1,250; Annual recurring HOA fees total $5,000; One-time fees total $125; Professional management; HOA covers lawn/land maintenance, legal/accounting, manager, security, and street maintenance; Community amenities include a community pool, sidewalks, streetlights, and underground utilities; Gated community

Exterior

• Parking: Attached 2-car garage; Driveway with paved parking for 2+ vehicles
• Security: Gated community; Secured garage
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential attached villa; 1-story ranch, end-unit; Traditional style; Rear exposure faces south; Part of Northshore Lake Villas development; Lakefront setting with landscaped and water feature views
• Construction: Concrete block construction; Tile roof; Built in 1999; Foundation information not provided
• Exterior features: Privacy wall; Automatic sprinkler system; Water feature; Screened private pool (below ground) with equipment staying; Screened private spa with equipment staying; Stucco exterior; Single-hung windows; Electric shutters; Garage secured; Gated community

Interior

• Kitchen: Range; Microwave; Dishwasher; Disposal
• Bedrooms: 3 bedrooms; First-floor bedroom; Master bedroom on ground level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Custom mirrors; Foyer; Smoke detectors; Vaulted ceiling; Window coverings; Split bedroom floor plan; 6 rooms total; Guest bath; Screened lanai/porch
• Laundry & utility: Washer and dryer included; Washer/dryer hookup; Laundry in residence; Generator; Auto garage door

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $695k.

Deal economics

• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $664k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $593k (14.7% below list).
• Recommended offer: $593k (14.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#696 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, employment B+; 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: Naples Park Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 395 students, 48% FRL); North Naples Middle School (math 79% / reading 73%, grade A, #34 of 571 statewide, top 6%, 903 students, 25% FRL); Gulf Coast High School (math 57% / reading 68%, grade B-, #93 of 667 statewide, top 14%, 2,447 students, 20% FRL) — zoned schools average 31% FRL vs 55% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.1%/yr); 593 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $5,927/mo this rent would consume 73% of the median local household income ($98k/yr) (locally 1006% 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 $5k of loan paydown is wiped out by about $21k 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 430 days — a 12% lower offer ($612k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $100k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $310k; list at $695k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $592,706 (14.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 430 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
11. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
12. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
13. 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.
14. 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.
15. 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: 0.85% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 9.8

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: -21.5%
• Equity multiple: 0.28×
• Total profit: $-140,978
• Equity at exit: $103,627

10-year hold

• IRR: -24.7%
• Equity multiple: -0.05×
• Total profit: $-203,698
• Equity at exit: $60,091

Cash invested: $194,600 (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 34110

• Rents YoY: -1.1%
• Active inventory: 593
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $5,927 high
• Mortgage (P&I): −$3,645
• Tax from tax record: −$439 /mo · $5,270/yr
• Insurance: −$290
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$417
• Vacancy / Maint / Mgmt: −$1,245
• Net cashflow: $-174

Break-even live

Break-even rent $6,148

Max offer price $664,182

Occupancy floor 98%

Sensitivity live

Price	-10% $219	-5% $22	+0% $-174	+5% $-371	+10% $-568
Rent	-10% $-643	-5% $-409	+0% $-174	+5% $60	+10% $294
Rate	-1.0pp $176	-0.5pp $2	base $-174	+0.5pp $-355	+1.0pp $-538

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: $173,750
• Closing costs: $20,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 Roma Ct Naples, FL	3.0	2.0	1260	$4,450	$3.53	15d	6	0.07mi
509 Roma Ct Naples, FL	3.0	2.0	1322	$3,850	$2.91	25d	3	0.10mi
602 111th Ave N Naples, FL	2.0	2.0	1104	$4,000	$3.62	25d	1	0.37mi
527 109th Ave N Naples, FL	2.0	2.0	990	$2,750	$2.78	25d	1	0.43mi
564 109th Ave N Naples, FL	2.0	2.0	1080	$16,000	$14.81	25d	1	0.46mi
530 108th Ave N Naples, FL	3.0	2.0	1350	$15,000	$11.11	25d	1	0.52mi
699 110th Ave N Unit A Naples, FL	2.0	1.0	1000	$2,150	$2.15	25d	1	0.53mi
699 110th Ave N Unit B Naples, FL	2.0	2.0	910	$2,250	$2.47	25d	1	0.53mi
706 111th Ave N Naples, FL	2.0	2.0	1080	$1,850	$1.71	25d	1	0.54mi
17 Bluebill Ave #1102 Naples, FL	2.0	2.0	1300	$9,000	$6.92	25d	1	0.54mi
17 Bluebill Ave #904 Naples, FL	2.0	2.0	1214	$8,000	$6.59	25d	1	0.54mi
17 Bluebill Ave #903 Naples, FL	2.0	2.0	1214	$17,250	$14.21	25d	1	0.54mi
25 Bluebill Ave #403 Naples, FL	3.0	2.0	1613	$8,000	$4.96	15d	1	0.55mi
25 Bluebill Ave #1002 Naples, FL	3.0	2.0	1613	$9,000	$5.58	25d	1	0.55mi
25 Bluebill Ave #1103 Naples, FL	3.0	2.0	1613	$9,500	$5.89	25d	1	0.55mi
25 Bluebill Ave Unit A201 Naples, FL	2.0	2.0	1506	$4,500	$2.99	15d	1	0.55mi
25 Bluebill Ave Unit 1263821P Naples, FL	2.0	2.0	1485	$5,079	$3.42	22d	1	0.55mi
25 Bluebill Ave #301 Naples, FL	2.0	2.0	1506	$8,000	$5.31	15d	1	0.55mi
21 Bluebill Ave #302 Naples, FL	3.0	2.0	1613	$10,500	$6.51	22d	1	0.57mi
21 Bluebill Ave Unit B401 Naples, FL	2.0	2.0	1804	$8,000	$4.43	15d	1	0.57mi
21 Bluebill Ave Unit B-303 Naples, FL	3.0	2.0	1613	$9,500	$5.89	15d	1	0.57mi
35 Bluebill Ave Unit B-702 Naples, FL	3.0	2.0	1626	$9,000	$5.54	15d	1	0.59mi
15 Bluebill Ave #805 Naples, FL	2.0	2.0	1525	$8,500	$5.57	25d	1	0.60mi
15 Bluebill Ave Unit 103AA Naples, FL	2.0	2.0	1569	$2,995	$1.91	25d	1	0.60mi
15 Bluebill Ave #406 Naples, FL	2.0	2.0	1525	$10,000	$6.56	25d	1	0.60mi
15 Bluebill Ave Unit 103s Naples, FL	2.0	2.0	1569	$7,500	$4.78	25d	1	0.60mi
15 Bluebill Ave #205 Naples, FL	2.0	2.0	1525	$7,900	$5.18	25d	1	0.60mi
15 Bluebill Ave Unit 103AA Naples, FL	2.0	2.0	1569	$2,995	$1.91	22d	1	0.60mi
15 Bluebill Ave #206 Naples, FL	2.0	2.0	1493	$6,500	$4.35	25d	1	0.60mi
593 106th Ave N Naples, FL	3.0	2.0	1800	$9,000	$5.00	25d	1	0.63mi
669 107th Ave N Unit 1504183P Naples, FL	3.0	2.0	1614	$3,571	$2.21	25d	1	0.64mi
673 107th Ave N Naples, FL	3.0	2.0	1428	$3,850	$2.70	25d	1	0.64mi
510 106th Ave N Unit 1387169P Naples, FL	4.0	2.0	1646	$7,553	$4.59	15d	1	0.65mi
5 Bluebill Ave Unit 505/605 Naples, FL	2.0	2.5	1035	$6,500	$6.28	25d	1	0.65mi
5 Bluebill Ave #201 Naples, FL	3.0	2.0	1441	$9,000	$6.25	25d	1	0.65mi
5 Bluebill Ave Unit 305-405 Naples, FL	2.0	2.5	1133	$3,495	$3.08	25d	1	0.65mi
5 Bluebill Ave #209 Naples, FL	2.0	2.0	1076	$8,500	$7.90	25d	1	0.65mi
5 Bluebill Ave #403 Naples, FL	2.0	2.0	1086	$8,500	$7.83	22d	1	0.65mi
5 Bluebill Ave Unit 303-1 Naples, FL	2.0	2.0	1068	$6,500	$6.09	25d	1	0.65mi
5 Bluebill Ave #301 Naples, FL	3.0	2.0	1494	$7,500	$5.02	25d	1	0.65mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: electricpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-22
   days on market $695,000 Active 430 DOM
2. 2026-06-18
   days on market $695,000 Active 427 DOM
3. 2026-06-17
   days on market $695,000 Active 426 DOM
4. 2026-06-16
   days on market $695,000 Active 425 DOM
5. 2026-06-15
   days on market $695,000 Active 424 DOM
6. 2026-06-10
   days on market $695,000 Active 419 DOM
7. 2026-06-09
   days on market $695,000 Active 418 DOM
8. 2026-06-08
   days on market $695,000 Active 417 DOM
9. 2026-06-07
   days on market $695,000 Active 416 DOM
10. 2026-06-02
    days on market $695,000 Active 411 DOM
11. 2026-06-01
    days on market $695,000 Active 410 DOM
12. 2026-05-31
    days on market $695,000 Active 409 DOM
13. 2026-05-30
    days on market $695,000 Active 408 DOM
14. 2025-11-07
    price $695,000
15. 2025-10-22
    price $729,000
16. 2025-10-09
    status Active
17. 2025-06-06
    historical
18. 2025-02-20
    price $759,000
19. 2024-12-13
    listed $795,000 Active
20. 2011-07-05
    soldstatus $310,000
21. 2011-06-30
    soldstatus $310,000 756-char remark

    Show marketing remark (756 chars)

    V. 1519 - Like new. Wonderful southern exposure in this 3/2 villa home with 2 car garage and private pool. Light & bright with large tile flooring in Kitchen, great room & 3rd bedroom and new designer carpet in master & 2nd guest bedroom. 3rd bedroom is perfect as a den/office too. Private sparkling pool has new heater and beautiful lanscaping makes this a great buy. Have peace of mind because this home has Electric Hurricane Shutters for storm protection & extra security when away. Easy walk or bike to the beach, less than a mile. Close to everything but quiet lakefront location. Oversized attached 2 car garage. Mr & Mrs clean vacationed here and have meticulously maintained this home. Satelite dish too! A must see.

22. 2011-02-23
    listed $319,000 756-char remark

    Show marketing remark (756 chars)

    V. 1519 - Like new. Wonderful southern exposure in this 3/2 villa home with 2 car garage and private pool. Light & bright with large tile flooring in Kitchen, great room & 3rd bedroom and new designer carpet in master & 2nd guest bedroom. 3rd bedroom is perfect as a den/office too. Private sparkling pool has new heater and beautiful lanscaping makes this a great buy. Have peace of mind because this home has Electric Hurricane Shutters for storm protection & extra security when away. Easy walk or bike to the beach, less than a mile. Close to everything but quiet lakefront location. Oversized attached 2 car garage. Mr & Mrs clean vacationed here and have meticulously maintained this home. Satelite dish too! A must see.

ⓘ 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: $5,270 · $439/mo
• Projected year-2 tax: $5,768 · $481/mo
• Expected delta: +$499/yr (+$42/mo · 9.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,125
• − Mortgage interest: −$38,931
• − Property taxes: −$5,270
• − Insurance: −$4,272
• − Repairs & maintenance: −$5,690
• − Management: −$5,690
• − HOA: −$5,004
• − Depreciation: −$20,218
• Taxable loss: −$13,950
• Est. tax savings @ 24.0%: +$3,348
• After-tax cash flow: $1,255/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 Park

• Score: 64/100
• State rank: #696
• US rank: #14564

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+117.9% since first listed

9 events — show timeline

• 2025-11-07 Price Changed $695,000 NAPLESMLS
• 2025-10-22 Price Changed $729,000 NAPLESMLS
• 2025-10-09 Relisted — NAPLESMLS
• 2025-06-06 Listing Removed — NAPLESMLS
• 2025-02-20 Price Changed $759,000 NAPLESMLS
• 2024-12-13 Listed $795,000 NAPLESMLS
• 2011-07-05 Sold (Public Records) $310,000 Public Records
• 2011-06-30 Sold (MLS) $310,000 NAPLESMLS
• 2011-02-23 Listed $319,000 NAPLESMLS

Property tax history

+4.4%/yr

Latest (2025): $5,270 · +47.7% YoY. Source: county tax records.