788 Park Shore Dr Unit E39 · Naples, FL 34103

$379,000

2 bd · 2.0 ba · 1,015 sqft · Condo public records · 241 Days on market

Built 1973 $890/mo HOA · 19% 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 +18.9/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +6.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sunny top-floor condo has a South-facing lanai accessed from the dining room and the master bedroom. This 2-bedroom/2 bath unit has been beautifully upgraded with tumbled marble tile counter tops and back splash in the kitchen, recessed lighting, custom vanities in both baths, mirror accents and more! Hidden Lake Villas is a resort life-style community in Park Shore, boasting an eleven-acre campus with pool, lake and fountain, tennis, BBQ grills, and a clubhouse with library, workout area, saunas, etc. Financially strong and professionally managed, this is the best value within walking distance to the beach.

Key facts

• Private beach access
• Stylish clubhouse
• $890 HOA

Tags

• PRIVATE BEACH ACCESS
• RESORT STYLE SWIMMING POOL
• STYLISH CLUBHOUSE
• PICKLEBALL AND TENNIS COURTS
• GYM AND FITNESS CENTER
• TRANQUIL LOUNGE AND LIBRARY

Property features AI

Other

• Multi-unit info & listing: Building has 30 units; complex has 240 units; 3 units per floor; 1 floor in this building; Possession at closing; Subdivision: Hidden Lake Villas

Finance

• HOA & community: Mandatory HOA with on-site management; Quarterly condo fee; HOA covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, legal/accounting, manager, exterior pest control, recreation facilities, reserves, street lights, street maintenance, trash removal, and water; Community amenities include beach club access, clubhouse, community pool, community room, exercise room, business center, library, tennis and pickleball courts, BBQ/picnic area, and streetlights; Non-gated community; Total annual recurring HOA fees: $10,684; One-time fees: $150

Exterior

• Parking: 1 assigned parking space
• Security: Impact resistant doors and windows; Shutters (screens/fabric); Impact resistant windows; Smoke detector
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low-rise building (1–3 stories); Built in 1973; Rear exposure faces south; Property in Park Shore development
• Construction: Concrete block construction; Stucco exterior finish; Built-up or flat roof; Section/Unit: Lot unit 39
• Exterior features: Courtyard; Zero lot line; Landscaped area view; Parking lot view; Central irrigation; Paved road

Interior

• Kitchen: Island; Pantry; Dishwasher; Disposal; Microwave; Range; Refrigerator/Freezer; Refrigerator/Icemaker
• Bedrooms: 2 bedrooms (split bedroom floorplan)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; Master bath with combined tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans; Exhaust fan; Humidistat
• Interior features: Custom mirrors; High-speed internet available; Laundry tub; Pantry; Walk-in closet; Screened balcony; Common elevator; Furnished
• 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 $379k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $379k).
• Recommended offer: $334k (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: Sea Gate Elementary School (math 86% / reading 81%, grade A+, #60 of 2,144 statewide, top 3%, 703 students, 26% FRL); Gulfview Middle School (math 78% / reading 68%, grade A, #44 of 571 statewide, top 8%, 582 students, 40% FRL); Naples High School (math 47% / reading 52%, grade D, #179 of 667 statewide, top 29%, 1,719 students, 39% FRL) — zoned schools average 35% FRL vs 55% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+14.6%/yr); 481 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); high-income renter base; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $4,646/mo this rent would consume 48% of the median local household income ($117k/yr) (locally 311% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $106k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $379k implies a 117% gain — meaningful room to come down on a strong offer.

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; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $333,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 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: 1.23% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.85×
• Total profit: $-15,615
• Equity at exit: $56,510

10-year hold

• IRR: 11.9%
• Equity multiple: 2.20×
• Total profit: $126,952
• Equity at exit: $32,769

Cash invested: $106,120 (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 34103

• Rents YoY: 14.6%
• Active inventory: 481
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $4,646 medium
• Mortgage (P&I): −$1,988
• Tax from tax record: −$243 /mo · $2,920/yr
• Insurance: −$158
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$890
• Vacancy / Maint / Mgmt: −$976
• Net cashflow: $325

Break-even live

Break-even rent $4,234

Max offer price $379,000

Occupancy floor 88%

Sensitivity live

Price	-10% $540	-5% $433	+0% $325	+5% $218	+10% $111
Rent	-10% $-42	-5% $142	+0% $325	+5% $509	+10% $693
Rate	-1.0pp $516	-0.5pp $422	base $325	+0.5pp $227	+1.0pp $127

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
788 Park Shore Dr Naples, FL	1.0–2.0	1.5–2.0	931	$5,500	$5.90	15d	3	0.04mi
3930 Belair Ln Naples, FL	2.0	2.0	1300	$6,000	$4.62	25d	1	0.22mi
3200 Binnacle Dr Unit D3 Naples, FL	2.0	2.0	1180	$9,000	$7.63	22d	1	0.38mi
4092 Belair Ln #15 Naples, FL	3.0	3.0	1500	$6,200	$4.13	25d	1	0.40mi
555 Park Shore Dr Unit B410 Naples, FL	2.0	2.0	1200	$6,000	$5.00	22d	1	0.45mi
3030 Binnacle Dr #201 Naples, FL	2.0	2.0	1092	$5,000	$4.58	25d	1	0.52mi
600 Neapolitan Way Naples, FL	1.0–2.0	2.0	832	$5,200	$6.25	25d	2	0.56mi
820 Ketch Dr #3 Naples, FL	2.0	2.0	1100	$5,500	$5.00	25d	1	0.61mi
820 Ketch Dr #2 Naples, FL	2.0	2.0	1100	$5,700	$5.18	25d	1	0.61mi
3500 Gulf Shore Blvd N Naples, FL	2.0	2.0	1258	$7,650	$6.08	25d	2	0.65mi
45 High Point Cir S #303 Naples, FL	2.0	2.0	1015	$5,500	$5.42	25d	1	0.65mi
3400 Gulf Shore Blvd N Unit M3 Naples, FL	2.0	2.0	1337	$9,500	$7.11	25d	1	0.70mi
4200 Belair Ln Naples, FL	2.0–3.0	2.0	1406	$6,500	$4.62	25d	5	0.70mi
3443 Gulf Shore Blvd N Naples, FL	2.0	2.0	1171	$12,750	$10.88	15d	11	0.77mi
4001 Gulf Shore Blvd N #1104 Naples, FL	2.0	2.0	1267	$11,000	$8.68	25d	1	0.77mi
4001 Gulf Shore Blvd N #707 Naples, FL	2.0	2.0	1267	$20,000	$15.79	25d	1	0.77mi
4001 Gulf Shore Blvd N #803 Naples, FL	2.0	2.0	1267	$13,000	$10.26	25d	1	0.77mi
4001 Gulf Shore Blvd N #303 Naples, FL	2.0	2.0	1248	$9,000	$7.21	25d	1	0.77mi
4001 Gulf Shore Blvd N #505 Naples, FL	2.0	2.0	1271	$9,000	$7.08	15d	1	0.77mi
4001 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1247	$12,000	$9.62	25d	1	0.77mi
4005 Gulf Shore Blvd N #607 Naples, FL	2.0	2.0	1400	$14,000	$10.00	25d	1	0.78mi
4005 Gulf Shore Blvd N #605 Naples, FL	2.0	2.0	1267	$10,000	$7.89	25d	1	0.78mi
1082 Capri Dr Naples, FL	3.0	2.0	1500	$9,000	$6.00	25d	1	0.79mi
4300 Belair Ln Naples, FL	2.0	2.0	1200	$6,750	$5.62	15d	2	0.79mi
3200 Gulf Shore Blvd N #105 Naples, FL	2.0	2.0	1116	$8,500	$7.62	25d	1	0.80mi
333 Harbour Dr #211 Naples, FL	2.0	2.0	975	$5,500	$5.64	15d	1	0.81mi
3070 Gulf Shore Blvd N #103 Naples, FL	2.0	2.0	1300	$8,000	$6.15	25d	1	0.83mi
4523 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	25d	1	0.90mi
4525 Fluvia Ave Naples, FL	2.0	1.0	1050	$5,500	$5.24	25d	1	0.90mi
222 Harbour Dr #105 Naples, FL	2.0	2.0	1393	$13,000	$9.33	25d	1	0.91mi
2885 Gulf Shore Blvd N #302 Naples, FL	2.0	2.0	1500	$20,000	$13.33	25d	1	1.02mi
4560 Gulf Shore Blvd N Unit 3-213 Naples, FL	2.0	2.0	1321	$8,500	$6.43	25d	1	1.02mi
2600 Gulf Shore Blvd N #64 Naples, FL	2.0	2.0	1200	$7,200	$6.00	25d	1	1.13mi
2500 Gulf Shore Blvd N Unit S6 Naples, FL	2.0	2.0	1145	$7,500	$6.55	25d	1	1.15mi
4751 Gulf Shore Blvd N #602 Naples, FL	2.0	2.0	1424	$12,500	$8.78	25d	1	1.22mi
2400 14th St N Naples, FL	3.0	2.0	1464	$5,890	$4.02	15d	1	1.23mi
2216 Gulf Shore Blvd N Unit R3 Naples, FL	2.0	2.0	1265	$10,000	$7.91	25d	1	1.27mi
1400 Pompei Ln Naples, FL	2.0	2.0	1012	$1,888	$1.86	25d	2	1.27mi
2258 Gulf Shore Blvd N Unit O1 Naples, FL	2.0	2.0	1491	$13,750	$9.22	25d	1	1.28mi
1400 Pompei Ln Unit S-21 Naples, FL	2.0	2.0	1025	$3,000	$2.93	25d	1	1.28mi

HOA detail condo

• Monthly dues: $890 · $10,680/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-22
   days on market $379,000 Active 241 DOM
2. 2026-06-18
   days on market $379,000 Active 238 DOM
3. 2026-06-17
   days on market $379,000 Active 237 DOM
4. 2026-06-16
   days on market $379,000 Active 236 DOM
5. 2026-06-15
   days on market $379,000 Active 235 DOM
6. 2026-06-10
   days on market $379,000 Active 230 DOM
7. 2026-06-09
   days on market $379,000 Active 229 DOM
8. 2026-06-08
   days on market $379,000 Active 228 DOM
9. 2026-06-07
   days on market $379,000 Active 227 DOM
10. 2026-06-03
    days on market $379,000 Active 223 DOM
11. 2026-06-02
    days on market $379,000 Active 222 DOM
12. 2026-06-01
    days on market $379,000 Active 221 DOM
13. 2026-05-31
    days on market $379,000 Active 220 DOM
14. 2026-05-30
    days on market $379,000 Active 219 DOM
15. 2026-03-20
    price $379,000
16. 2026-01-22
    price $389,000
17. 2025-10-23
    listed $399,000 Active
18. 2025-06-30
    listed $5,000
19. 2025-06-10
    historical
20. 2025-03-07
    price $399,000
21. 2024-12-20
    listed $409,000 Active
22. 2011-04-18
    soldstatus $175,000
23. 2011-04-15
    soldstatus $175,000 616-char remark

    Show marketing remark (616 chars)

    Sunny top-floor condo has a South-facing lanai accessed from the dining room and the master bedroom. This 2-bedroom/2 bath unit has been beautifully upgraded with tumbled marble tile counter tops and back splash in the kitchen, recessed lighting, custom vanities in both baths, mirror accents and more! Hidden Lake Villas is a resort life-style community in Park Shore, boasting an eleven-acre campus with pool, lake and fountain, tennis, BBQ grills, and a clubhouse with library, workout area, saunas, etc. Financially strong and professionally managed, this is the best value within walking distance to the beach.

24. 2011-01-13
    listed $184,900 616-char remark

    Show marketing remark (616 chars)

    Sunny top-floor condo has a South-facing lanai accessed from the dining room and the master bedroom. This 2-bedroom/2 bath unit has been beautifully upgraded with tumbled marble tile counter tops and back splash in the kitchen, recessed lighting, custom vanities in both baths, mirror accents and more! Hidden Lake Villas is a resort life-style community in Park Shore, boasting an eleven-acre campus with pool, lake and fountain, tennis, BBQ grills, and a clubhouse with library, workout area, saunas, etc. Financially strong and professionally managed, this is the best value within walking distance to the beach.

25. 2010-04-30
    historical
26. 2009-11-02
    listed $215,000
27. 2009-05-04
    historical
28. 2008-09-19
    listed $209,900
29. 1992-09-01
    soldstatus $79,300

ⓘ 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: $2,920 · $243/mo
• Projected year-2 tax: $3,146 · $262/mo
• Expected delta: +$225/yr (+$19/mo · 7.7%)

ⓘ 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) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $55,757
• − Mortgage interest: −$21,230
• − Property taxes: −$2,920
• − Insurance: −$2,692
• − Repairs & maintenance: −$4,461
• − Management: −$4,461
• − HOA: −$10,680
• − Depreciation: −$11,025
• Taxable loss: −$1,712
• Est. tax savings @ 24.0%: +$411
• After-tax cash flow: $4,316/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): 11,299
• Household income: $116,875
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 311.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 10% Two or more races 8% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 2% Portuguese 2%
• Foreign-born: 13% · Canada
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -327.53%
• Current HPI: 315.1396
• Rent YoY: ▲ 14.55%
• 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

+377.9% since first listed

15 events — show timeline

• 2026-03-20 Price Changed $379,000 NAPLESMLS
• 2026-01-22 Price Changed $389,000 NAPLESMLS
• 2025-10-23 Listed $399,000 NAPLESMLS
• 2025-06-30 Listed for Rent $5,000 REDFIN
• 2025-06-10 Listing Removed — NAPLESMLS
• 2025-03-07 Price Changed $399,000 NAPLESMLS
• 2024-12-20 Listed $409,000 NAPLESMLS
• 2011-04-18 Sold (Public Records) $175,000 Public Records
• 2011-04-15 Sold (MLS) $175,000 NAPLESMLS
• 2011-01-13 Listed $184,900 NAPLESMLS
• 2010-04-30 Listing Removed — NAPLESMLS
• 2009-11-02 Listed $215,000 NAPLESMLS
• 2009-05-04 Listing Removed — NAPLESMLS
• 2008-09-19 Listed $209,900 NAPLESMLS
• 1992-09-01 Sold (Public Records) $79,300 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,920 · -3.0% YoY. Source: county tax records.