1517 Chesapeake Ave Unit B3 · Naples, FL 34102

$399,000

2 bd · 2.0 ba · 1,080 sqft · Condo public records · 181 Days on market

Built 1973 $948/mo HOA · 17% 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 +21.9/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +7.0/10.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0

Listing remarks

RENOVATED WATERFRONT CONDO – DIRECT GULF ACCESS – TURNKEY FURNISHED! Nestled on a picturesque street lined with majestic banyan trees, this fully renovated two-bedroom, two-bath residence offers modern luxury in the heart of Naples. The open-concept layout showcases brand-new finishes throughout, including 42-inch cabinetry, sleek flooring, and stylish contemporary details that create a bright, coastal feel. An oversized screened lanai overlooks a wide, tranquil canal—perfect for relaxing while watching boats pass by—with direct, no-bridge access to Naples Bay and the Gulf of Mexico. Each unit includes its own private dock slip, with boat dockage permitted for vessel

Key facts

• Direct gulf access
• Private dock slip
• Waterfront condo

Tags

• WATERFRONT CONDO
• DIRECT GULF ACCESS
• OVERSIZED SCREENED LANAI
• PRIVATE DOCK SLIP
• PRIME WATERFRONT SETTING

Property features AI

Finance

• Other: One-unit property within a 12-unit complex (6 units per building)
• Financial info: Total annual recurring fees listed (annualized HOA) and one-time fees apply
• HOA & community: Mandatory HOA (Condo management); Quarterly condo fee; Community boat dock; Boating community; HOA maintenance covers insurance, irrigation water, laundry facilities, lawn/land maintenance, legal/accounting, manager, exterior pest control, trash removal, and water

Exterior

• Parking: 1 assigned parking space; Laundry facilities available in complex
• Security: Storm protection noted (see remarks)
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in a low-rise (1–3) building; Built in 1973; Concrete block construction; Stucco exterior; Rear exposure faces north; Part of the Chesapeake Landings development
• Construction: Concrete block construction; Built-up/flat and tile roofing; Jalousie windows
• Exterior features: Patio; Zero lot line; Canal view; Bay and canal waterfront

Interior

• Kitchen: Electric cooktop; Self-cleaning oven; Dishwasher; Microwave; Refrigerator/Freezer
• Bedrooms: 2 bedrooms with a split bedroom floor plan
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning
• Interior features: High-speed internet available; Smoke detectors; Turnkey (furnished); Dining area open to family room; Screened lanai/porch; Guest bath
• Laundry & utility: Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• Recommended offer: $351k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#126 in FL, #1,903 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute D+, cost of living 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: Lake Park Elementary School (math 76% / reading 77%, grade A, #185 of 2,144 statewide, top 9%, 502 students, 39% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 39% FRL vs 55% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 614 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).

Forward outlook

• In year one you build about $19k of equity ($3k loan paydown + $16k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.1% appreciation + 8.0% rent growth), your $112k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $85k; list at $399k implies a 369% gain — meaningful room to come down on a strong offer.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $351,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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.
10. 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.
11. 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: 1.38% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.08% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.02×
• Total profit: $114,398
• Equity at exit: $204,249

10-year hold

• IRR: 20.4%
• Equity multiple: 4.73×
• Total profit: $416,797
• Equity at exit: $335,631

Cash invested: $111,720 (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 34102

• Home prices YoY: 1.3%
• Rents YoY: 8.8%
• Active inventory: 614
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $5,490 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$948
• Vacancy / Maint / Mgmt: −$1,153
• Net cashflow: $205

Break-even live

Break-even rent $5,230

Max offer price $399,000

Occupancy floor 91%

Sensitivity live

Price	-10% $481	-5% $343	+0% $205	+5% $67	+10% $-71
Rent	-10% $-229	-5% $-12	+0% $205	+5% $422	+10% $638
Rate	-1.0pp $406	-0.5pp $306	base $205	+0.5pp $101	+1.0pp $-4

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 Chesapeake Ave Unit 1296210P Naples, FL	2.0	2.0	1377	$4,110	$2.98	14d	1	0.04mi
1535 Chesapeake Ave Unit A2 Naples, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.05mi
1376 Chesapeake Ave #2 Naples, FL	2.0	2.0	1218	$2,300	$1.89	24d	1	0.10mi
1605 Chesapeake Ave #2 Naples, FL	2.0	1.0	850	$2,300	$2.71	24d	1	0.10mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	14d	1	0.11mi
1186 Cherrystone Ct Naples, FL	2.0	2.0	1163	$1,995	$1.72	24d	1	0.12mi
1625 Chesapeake Ave #203 Naples, FL	2.0	2.0	1200	$4,500	$3.75	24d	1	0.13mi
1686 Blue Point Ave Unit B1 Naples, FL	2.0	2.0	1198	$6,500	$5.43	24d	1	0.14mi
1686 Blue Point Ave Naples, FL	2.0	2.0	1057	$5,500	$5.20	14d	2	0.15mi
1165 Clam Ct #7 Naples, FL	2.0	2.5	1449	$2,900	$2.00	24d	1	0.16mi
1437 Sandpiper St Naples, FL	3.0	2.0	1200	$16,000	$13.33	24d	1	0.16mi
1200 Cherrystone Ct Unit A203 Naples, FL	2.0	2.0	1276	$4,950	$3.88	24d	1	0.17mi
1751 Smugglers Cv Unit 2 1 Naples, FL	2.0	1.0	800	$1,995	$2.49	14d	1	0.20mi
1549 Sandpiper St #36 Naples, FL	2.0	2.0	1073	$2,195	$2.05	24d	1	0.20mi
1120 Little Neck Ct Unit E40 Naples, FL	3.0	2.0	1400	$2,999	$2.14	24d	1	0.22mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$4,050	$3.81	24d	2	0.24mi
1155 Sandpiper St Naples, FL	2.0	2.0	1062	$3,950	$3.72	21d	3	0.24mi
1353 Pelican Ave Naples, FL	2.0	2.0	1203	$8,500	$7.07	24d	1	0.27mi
1666 Osprey Ave #203 Naples, FL	2.0	2.0	1200	$7,000	$5.83	24d	1	0.30mi
24 Rivard Rd Naples, FL	3.0	2.0	1314	$6,500	$4.95	24d	1	0.30mi
105 Georgetown Blvd #105 Naples, FL	2.0	2.0	1450	$6,500	$4.48	24d	1	0.30mi
12 Knights Bridge Rd Unit A32 Naples, FL	2.0	2.0	1095	$3,200	$2.92	21d	1	0.31mi
9 Knights Bridge Rd #30 Naples, FL	2.0	2.0	1296	$3,000	$2.31	14d	1	0.33mi
91 Georgetown Blvd #91 Naples, FL	2.0	2.0	1450	$7,000	$4.83	24d	1	0.34mi
69 Georgetown Blvd #69 Naples, FL	2.0	2.0	1450	$5,500	$3.79	24d	1	0.34mi
84 Georgetown Blvd #84 Naples, FL	2.0	2.0	1450	$5,500	$3.79	24d	1	0.36mi
1501 Curlew Ave Naples, FL	2.0	1.0	1180	$2,000	$1.69	24d	1	0.40mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.41mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	24d	1	0.41mi
3001 Sandpiper Bay Cir Unit B106 Naples, FL	2.0	2.0	1100	$1,950	$1.77	14d	1	0.42mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	24d	1	0.42mi
235 Lanchester Ct #42 Naples, FL	2.0	2.0	1200	$2,350	$1.96	24d	1	0.44mi
3002 Sandpiper Bay Cir Unit A203 Naples, FL	2.0	2.0	1200	$2,200	$1.83	24d	1	0.45mi
1950 Mayfair ST Unit 1021 Naples, FL	1.0	1.0	710	$3,520	$4.96	14d	1	0.45mi
1950 Mayfair ST Unit 921 Naples, FL	1.0	1.0	710	$3,420	$4.82	14d	1	0.45mi
1950 Mayfair ST Unit 901 Naples, FL	2.0	2.0	1025	$4,560	$4.45	14d	1	0.45mi
1950 Mayfair ST Unit 716 Naples, FL	1.0	1.0	710	$3,330	$4.69	14d	1	0.45mi
1950 Mayfair ST Unit 802 Naples, FL	1.0	1.0	710	$3,355	$4.73	14d	1	0.45mi
1950 Mayfair ST Unit 1027 Naples, FL	1.0	1.0	888	$3,525	$3.97	14d	1	0.45mi
1950 Mayfair ST Unit 817 Naples, FL	1.0	1.0	710	$3,295	$4.64	14d	1	0.45mi

HOA detail condo

• Monthly dues: $948 · $11,376/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $399,000 Active 181 DOM
2. 2026-06-17
   days on market $399,000 Active 180 DOM
3. 2026-06-16
   days on market $399,000 Active 179 DOM
4. 2026-06-15
   days on market $399,000 Active 178 DOM
5. 2026-06-10
   days on market $399,000 Active 173 DOM
6. 2026-06-09
   days on market $399,000 Active 172 DOM
7. 2026-06-08
   days on market $399,000 Active 171 DOM
8. 2026-06-07
   pricedays on market $399,000 Active 170 DOM
9. 2026-06-03
   days on market $525,000 Active 166 DOM
10. 2026-06-02
    days on market $525,000 Active 165 DOM
11. 2026-06-01
    days on market $525,000 Active 164 DOM
12. 2026-05-31
    days on market $525,000 Active 163 DOM
13. 2026-05-30
    days on market $525,000 Active 162 DOM
14. 2026-01-17
    price $525,000
15. 2025-12-19
    listed $399,900 Active
16. 2025-08-15
    historical
17. 2024-12-19
    listed $550,900 Active
18. 1996-05-16
    soldstatus $85,000

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,874
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$7,114
• − Repairs & maintenance: −$5,270
• − Management: −$5,270
• − HOA: −$11,376
• − Depreciation: −$11,607
• Taxable loss: −$3,097
• Est. tax savings @ 24.0%: +$743
• After-tax cash flow: $3,201/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

• Score: 80/100
• State rank: #126
• US rank: #1903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Naples, FL
• County: Collier County · 396,295 people
• City population: 344,941
• Metro: Naples-Marco Island, FL
• Population (ZIP): 11,179
• Household income: $130,929
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 333.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 8% Black 8% Asian 1%
• Hispanic origin (detail): Cuban 6%
• Common ancestry: Hispanic 4% Lithuanian 4% Romanian 4%
• Foreign-born: 17% · Canada, China
• Languages at home: 87% English-only · Spanish 7% French/Haitian/Cajun 4% German/W. Germanic 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: ▲ 4.08%
• Current HPI: 328.2755
• Rent YoY: ▲ 8.75%
• 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

+517.6% since first listed

5 events — show timeline

• 2026-01-17 Price Changed $525,000 NAPLESMLS
• 2025-12-19 Listed $399,900 NAPLESMLS
• 2025-08-15 Listing Removed — NAPLESMLS
• 2024-12-19 Listed $550,900 NAPLESMLS
• 1996-05-16 Sold (Public Records) $85,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $603 · +3.2% YoY. Source: county tax records.