774 Wiggins Lake Dr #204 · Naples Park, FL 34110

$319,000

2 bd · 2.0 ba · 1,179 sqft · Condo public records · 214 Days on market

Built 1990 $693/mo HOA · 14% of rent

---

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 +29.9/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Wiggins Lake & Preserve! This 2-bedroom, 2-bath TURNKEY condo offers easy Florida living in a desirable Naples location. Features include stainless steel appliances, tile flooring in the main living areas, and a recently upgraded refrigerator, AC, washer and dryer. Located on the second floor, you’ll have peace of mind with no flood concerns. Enjoy the screened lanai overlooking the pond, providing a relaxing outdoor space to unwind. The Community offers TWO Pools, Tennis/Pickleball Courts, and a Clubhouse, perfect for an active lifestyle. Conveniently located minutes from Naples’ white sandy beaches, shopping, and dining. Includes two assigned parking spaces (o

Key facts

• Clubhouse
• Screened lanai
• Tile flooring

Tags

• STAINLESS STEEL APPLIANCES
• TILE FLOORING
• SCREENED LANAI
• TWO POOLS
• TENNIS PICKLEBALL COURTS
• CLUBHOUSE

Property features AI

Finance

• Financial info: Land lease expires 2026-03-31; Pets allowed conditionally (call), maximum 1 pet up to 25 lbs
• HOA & community: Monthly association fee; Association covers management, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, recreation facilities, reserve fund, road maintenance, sewer, street lights and trash; Association amenities include clubhouse, pool, storage, sidewalks, tennis and pickleball courts, bike storage, library and management; Community of 212 units

Exterior

• Parking: Assigned parking; Underground parking; Guest parking; Paved parking; Detached carport; 1 covered space; One or two spaces available
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Underground utilities; Reclaimed water irrigation
• Home design: Condominium (multi-unit community of 212 units); Entry level 2; Faces northeast; Has view; Is waterfront; Resale property
• Construction: Built with block, concrete and stucco; Shingle roof
• Exterior features: Lanai; Porch; Screened porch; Tennis court(s); Water feature; Pond on lot; Paved roads; Community pool; Community tennis courts; Non-gated community; Street lights

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Refrigerator; Refrigerator with ice maker; Self-cleaning oven
• Bedrooms: Upper level primary
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: 2 full bathrooms; Shower only; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: High ceilings; Breakfast bar; Eat-in kitchen; Living/dining room; Pantry; Bar; Walk-in closet(s); High speed internet; Split bedrooms; Furnished; Impact glass windows; Single hung windows; Shower only; Separate shower; Upper level primary
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $319k).
• Recommended offer: $281k (12.0% below list) — sets the bar for market timing.

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, schools F, amenities 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.
• Market conditions: Rents soft (-1.1%/yr); 595 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 $4,928/mo this rent would consume 61% 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 $2k of loan paydown is wiped out by about $10k 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 214 days — a 12% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $145k; list at $319k implies a 120% 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 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 10.75%
• Cash-on-cash: 15.93%
• DSCR: 1.71
• GRM: 5.4

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: 1.7%
• Equity multiple: 1.06×
• Total profit: $5,588
• Equity at exit: $47,564

10-year hold

• IRR: 7.5%
• Equity multiple: 1.48×
• Total profit: $42,583
• Equity at exit: $27,581

Cash invested: $89,320 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $4,928 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$209 /mo · $2,503/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$693
• Vacancy / Maint / Mgmt: −$1,035
• Net cashflow: $1,119

Break-even live

Break-even rent $3,511

Max offer price $319,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,300	-5% $1,210	+0% $1,119	+5% $1,029	+10% $939
Rent	-10% $730	-5% $925	+0% $1,119	+5% $1,314	+10% $1,509
Rate	-1.0pp $1,280	-0.5pp $1,201	base $1,119	+0.5pp $1,037	+1.0pp $953

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	24d	1	0.04mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	24d	1	0.09mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	24d	1	0.10mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	24d	1	0.11mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	15d	1	0.11mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	24d	1	0.12mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	22d	1	0.13mi
1337 Center Ln Naples, FL	3.0	2.0	1500	$4,300	$2.87	24d	1	0.26mi
830 Wiggins Pass Rd #10 Naples, FL	1.0	1.0	800	$1,350	$1.69	24d	1	0.26mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	24d	1	0.27mi
1282 Belaire Ct Naples, FL	3.0	3.5	1495	$9,500	$6.35	24d	1	0.36mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	15d	4	0.40mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	24d	1	0.45mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	24d	1	0.47mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	15d	1	0.51mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	24d	1	0.52mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	15d	1	0.59mi
12945 Vanderbilt Dr Naples, FL	2.0	2.0	1301	$5,250	$4.04	24d	2	0.69mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	24d	2	0.70mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	22d	1	0.70mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	15d	1	0.70mi
1120 Sarah Jean Cir Unit B205 Naples, FL	3.0	2.0	1370	$2,300	$1.68	15d	1	0.71mi
1150 Yesica Ann Cir Unit A205 Naples, FL	2.0	2.0	1300	$6,000	$4.62	15d	1	0.77mi
953 Bunker Hill Dr Naples, FL	2.0	2.0	1100	$3,200	$2.91	15d	1	0.80mi
1190 Yesica Ann Cir Unit B101 Naples, FL	2.0	2.0	1245	$2,500	$2.01	15d	1	0.82mi
1290 Yesica Ann Cir Unit G-105 Naples, FL	2.0	2.0	1168	$5,500	$4.71	15d	1	0.87mi
1290 Yesica Ann Cir Unit G203 Naples, FL	2.0	2.0	1245	$6,000	$4.82	15d	1	0.87mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	24d	1	0.89mi
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	24d	1	0.97mi
1130 Turtle Creek Blvd Naples, FL	1.0–2.0	1.0–2.0	800	$2,145	$2.68	15d	22	0.98mi
900 Arbor Lake Dr Unit 301 Naples, FL	1.0	1.0	866	$3,500	$4.04	24d	1	1.03mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	24d	1	1.11mi
1351 Park Lake Dr Unit 14R Naples, FL	2.0	2.0	1400	$2,200	$1.57	15d	1	1.12mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$3,800	$2.16	24d	2	1.13mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	24d	1	1.14mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	24d	1	1.14mi
519 Roma Ct Naples, FL	3.0	2.0	1260	$4,450	$3.53	15d	6	1.18mi
509 Roma Ct Naples, FL	3.0	2.0	1322	$3,850	$2.91	24d	3	1.19mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	24d	1	1.23mi
1530 Imperial Golf Course Blvd #321 Naples, FL	2.0	2.0	1400	$2,100	$1.50	24d	1	1.33mi

HOA detail condo

• Monthly dues: $693 · $8,316/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-15
   days on market $319,000 Active 214 DOM
2. 2026-06-10
   days on market $319,000 Active 209 DOM
3. 2026-06-09
   days on market $319,000 Active 208 DOM
4. 2026-06-08
   days on market $319,000 Active 207 DOM
5. 2026-06-07
   days on market $319,000 Active 206 DOM
6. 2026-06-03
   days on market $319,000 Active 202 DOM
7. 2026-06-02
   days on market $319,000 Active 201 DOM
8. 2026-06-01
   days on market $319,000 Active 200 DOM
9. 2026-05-31
   days on market $319,000 Active 199 DOM
10. 2026-05-30
    days on market $319,000 Active 198 DOM
11. 2025-11-13
    listed $319,000 Active
12. 2017-01-01
    historical
13. 2016-04-02
    price $224,900
14. 2016-04-02
    price $229,900
15. 2016-03-29
    price $229,000
16. 2016-03-03
    price $239,900
17. 2016-02-03
    price $249,900
18. 2015-11-11
    listed $259,900 Active
19. 2012-10-10
    soldstatus $145,000
20. 1999-10-08
    soldstatus $95,000
21. 1993-01-13
    soldstatus $77,500

ⓘ 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: $2,503 · $209/mo
• Projected year-2 tax: $2,648 · $221/mo
• Expected delta: +$145/yr (+$12/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,139
• − Mortgage interest: −$17,869
• − Property taxes: −$2,503
• − Insurance: −$2,392
• − Repairs & maintenance: −$4,731
• − Management: −$4,731
• − HOA: −$8,316
• − Depreciation: −$9,280
• Taxable income: $9,316
• Est. tax owed @ 24.0%: −$2,236
• After-tax cash flow: $11,198/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

+311.6% since first listed

11 events — show timeline

• 2025-11-13 Listed $319,000 FORTMLS
• 2017-01-01 Listing Removed — NAPLESMLS
• 2016-04-02 Price Changed $229,900 NAPLESMLS
• 2016-04-02 Price Changed $224,900 NAPLESMLS
• 2016-03-29 Price Changed $229,000 NAPLESMLS
• 2016-03-03 Price Changed $239,900 NAPLESMLS
• 2016-02-03 Price Changed $249,900 NAPLESMLS
• 2015-11-11 Listed $259,900 NAPLESMLS
• 2012-10-10 Sold (Public Records) $145,000 Public Records
• 1999-10-08 Sold (Public Records) $95,000 Public Records
• 1993-01-13 Sold (Public Records) $77,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $2,503 · -3.1% YoY. Source: county tax records.