5651 Rattlesnake Hamm Rd Unit C-107 · Lely, FL 34113

$179,000

2 bd · 2.0 ba · 1,054 sqft · Condo public records · 358 Days on market

Built 1980 $400/mo HOA · 12% of rent

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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
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A WONDERFUL Location In The Heart Of Naples! Welcome To Your SPACIOUS Convenient First Floor 2 Bedroom 2 Bathroom Condo Located In The PEACEFUL & Friendly Golf View Manor II Community That Features A HUGE Well maintained Landscaped Area From Your Lanai Overlooking Water & The Neighboring Golf Course. This Established Condo Fellowship Is WONDERFULLY Located Close To The Downtown Naples Area & The Gulf Beaches Or You May Want To Take A Short Stroll To The Delightful Marco Island Area. This Condo Features A Split Bedroom Design Which Provides Privacy, With A COMFORTABLE Primary Bedroom With Beautiful Views From Outside, The Primary Bathroom & A Walk In Closet. A GENEROU

Key facts

• Split bedroom design
• Community amenities
• Screened lanai

Tags

• FIRST FLOOR
• GOLF COURSE VIEWS
• SCREENED LANAI
• LANDSCAPED AREA
• COMMUNITY AMENITIES
• SPLIT BEDROOM DESIGN

Property features AI

Finance

• Other: Part of a 75-unit complex with 24 units in the building; Single-floor building; Canal width listed as 1–30
• HOA & community: Mandatory HOA; Quarterly condo fee of $1,199 ($4,796 annually); One-time fees: $150; Professional management; Community clubhouse and community pool; Community type: Non-gated; HOA maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, sewer, street lights, trash removal and water

Exterior

• Parking: 1 assigned covered parking space; Detached 1-car carport; Paved driveway and guest/paved parking
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential condominium; Low-rise building (1–3 stories); Rear exposure faces south; Zero lot line
• Construction: Concrete block construction; Built-up or flat roof; Built in 1980; Unit in building C, unit number C-107
• Exterior features: Sprinkler system (automatic); Single-hung and sliding windows; Stucco exterior; Canal frontage; Views of canal, golf course and water; Central irrigation

Interior

• Kitchen: Electric cooktop; Disposal; Refrigerator
• Bedrooms: 2 bedrooms; First-floor bedroom; Master bedroom on ground level; Split bedroom floor plan
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Foyer; Walk-in closet; Guest bath; Guest room; Screened lanai/porch; Common elevator; Two ceiling fans
• Laundry & utility: Washer; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $896 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime 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: Lely Elementary School (math 45% / reading 46%, grade D-, #1,247 of 2,144 statewide, top 59%, 499 students, 62% FRL); Manatee Middle School (math 61% / reading 43%, grade C+, #217 of 571 statewide, top 40%, 749 students, 64% FRL); Lely High School (math 40% / reading 39%, grade F, #304 of 667 statewide, top 47%, 1,504 students, 54% FRL).
• Zoned-school proficiency averages 46% at this address vs 58% district-wide (-12 pts) — the specific schools serving this property underperform the Collier average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.6%/yr); 598 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,209/mo this rent would consume 47% of the median local household income ($82k/yr) (locally 954% 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 $1k of loan paydown is wiped out by about $5k 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 (-3.0% appreciation + 5.6% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 358 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 D-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: 1.79% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.04%
• DSCR: 2.02
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.74×
• Total profit: $36,917
• Equity at exit: $26,689

10-year hold

• IRR: 28.1%
• Equity multiple: 3.87×
• Total profit: $143,933
• Equity at exit: $15,477

Cash invested: $50,120 (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 34113

• Rents YoY: 5.6%
• Active inventory: 598
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,209 high
• Mortgage (P&I): −$939
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$400
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $896

Break-even live

Break-even rent $2,076

Max offer price $179,000

Occupancy floor 67%

Sensitivity live

Price	-10% $997	-5% $946	+0% $896	+5% $845	+10% $794
Rent	-10% $642	-5% $769	+0% $896	+5% $1,022	+10% $1,149
Rate	-1.0pp $986	-0.5pp $941	base $896	+0.5pp $849	+1.0pp $802

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	25d	1	0.04mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	23d	1	0.04mi
5535 Rattlesnake Hammock Rd #302 Naples, FL	2.0	2.0	1205	$2,800	$2.32	25d	1	0.14mi
5502 Greenwood Cir #1 Naples, FL	3.0	2.0	1450	$2,400	$1.66	25d	1	0.14mi
5778 Greenwood Cir Naples, FL	3.0	2.0	1450	$4,000	$2.76	25d	1	0.24mi
5595 Greenwood Cir #92 Naples, FL	3.0	2.0	1450	$5,000	$3.45	25d	1	0.27mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	16d	2	0.32mi
413 Augusta Blvd #302 Naples, FL	2.0	2.0	1390	$5,500	$3.96	23d	1	0.41mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	16d	1	0.41mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	25d	1	0.41mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	25d	1	0.41mi
4556 Andover Way Unit E104 Naples, FL	2.0	2.0	1072	$5,000	$4.66	16d	1	0.42mi
4556 Andover Way Unit E106 Naples, FL	2.0	2.0	1172	$1,900	$1.62	16d	1	0.42mi
4410 Chantelle Dr Unit H-205 Naples, FL	2.0	2.0	1349	$3,500	$2.59	16d	1	0.43mi
905 Augusta Blvd Naples, FL	2.0	2.0	1125	$1,850	$1.64	25d	1	0.43mi
360 Charlemagne Blvd Unit D105 Naples, FL	2.0	2.0	1082	$3,200	$2.96	25d	1	0.45mi
555 Augusta Blvd Unit 3-1 Naples, FL	2.0	2.0	1249	$4,200	$3.36	25d	1	0.47mi
520 Augusta Blvd Unit B204 Naples, FL	3.0	2.0	1294	$2,200	$1.70	25d	1	0.48mi
709 Augusta Blvd Unit 709-5 Naples, FL	3.0	2.0	1480	$4,000	$2.70	16d	1	0.49mi
575 Augusta Blvd Naples, FL	3.0	2.0	1500	$2,100	$1.40	25d	1	0.49mi
940 Augusta Blvd Unit D939 Naples, FL	2.0	2.0	1419	$2,200	$1.55	25d	1	0.50mi
705 Augusta Blvd Unit 705-5 Naples, FL	2.0	2.0	1125	$2,000	$1.78	16d	1	0.51mi
701 Augusta Blvd Unit 701-8 Naples, FL	2.0	2.0	1250	$4,800	$3.84	16d	1	0.51mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	25d	1	0.52mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	16d	1	0.52mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	25d	1	0.57mi
760 Augusta Blvd Unit D204 Naples, FL	3.0	2.0	1294	$2,300	$1.78	25d	1	0.58mi
5857 Rattlesnake Hammock Rd #208 Naples, FL	2.0	2.0	1133	$3,000	$2.65	16d	1	0.58mi
5733 Deauville Cir Unit G308 Naples, FL	3.0	2.0	1427	$3,600	$2.52	25d	1	0.58mi
265 Deerwood Cir Naples, FL	2.0	2.0	1179	$5,000	$4.24	25d	1	0.61mi
232 Pebble Beach Blvd #104 Naples, FL	3.0	2.0	1298	$1,975	$1.52	25d	1	0.62mi
5841 Rattlesnake Hammock Rd Unit 2 Naples, FL	2.0	2.0	1133	$2,500	$2.21	25d	1	0.62mi
5741 Deauville Cir Unit F108 Naples, FL	3.0	2.0	1427	$3,600	$2.52	25d	1	0.62mi
5841 Rattlesnake Hammock Rd Unit I-203 Naples, FL	2.0	2.0	1015	$3,500	$3.45	16d	1	0.62mi
5708 Deauville Cir Unit 308 Naples, FL	3.0	2.0	1500	$4,500	$3.00	25d	1	0.63mi
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	25d	1	0.65mi
452 Bristle Cone Ln #27 Naples, FL	2.0	2.0	1129	$2,000	$1.77	25d	1	0.67mi
5792 Deauville Cir Unit A103 Naples, FL	2.0	2.0	1209	$3,900	$3.23	25d	1	0.70mi
5754 Deauville Cir Unit E104 Naples, FL	1.0	2.0	1209	$1,190	$0.98	25d	1	0.71mi
3685 Amberly Cir Unit D305 Naples, FL	2.0	2.0	1320	$5,100	$3.86	25d	1	0.75mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-13
   price $179,000
2. 2026-02-14
   price $199,000
3. 2025-06-05
   listed $219,900 Active
4. 2005-09-22
   soldstatus $200,000
5. 2005-09-22
   soldstatus $200,000
6. 2000-09-26
   soldstatus $63,500

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $1,920 · $160/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 90% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme
• 💨 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: $38,512
• − Mortgage interest: −$10,027
• − Property taxes: −$1,920
• − Insurance: −$1,692
• − Repairs & maintenance: −$3,081
• − Management: −$3,081
• − HOA: −$4,800
• − Depreciation: −$5,207
• Taxable income: $8,704
• Est. tax owed @ 24.0%: −$2,089
• After-tax cash flow: $8,659/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 — Lely

• Score: 66/100
• State rank: #586
• US rank: #11224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lely, FL
• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,056
• Household income: $81,674
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 954.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 10% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Vietnam
• Languages at home: 63% English-only · Spanish 24% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -194.86%
• Current HPI: 279.4232
• Rent YoY: ▲ 5.59%
• 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

+181.9% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $179,000 NAPLESMLS
• 2026-02-14 Price Changed $199,000 NAPLESMLS
• 2025-06-05 Listed $219,900 NAPLESMLS
• 2005-09-22 Sold (Public Records) $200,000 Public Records
• 2005-09-22 Sold (Public Records) $200,000 Public Records
• 2000-09-26 Sold (Public Records) $63,500 Public Records

Property tax history

+10.2%/yr

Latest (2025): $1,920 · +8.1% YoY. Source: county tax records.