473 12th Ave S Unit B8 · Naples, FL 34102

$499,000

2 bd · 1.0 ba · 755 sqft · Condo public records · 377 Days on market

Built 1964 $844/mo HOA · 16% 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 +15.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0

Listing remarks

Newly renovated and ideally located in the heart of Olde Naples, this beautifully updated condo at Bonaire Club is part of the charming Village Green community. Residents enjoy exceptional amenities including a large community pool, shuffleboard, bocce ball, and a welcoming club room. Just one block from Naples’ renowned Third Street South, you’re steps away from upscale boutiques, acclaimed restaurants and bistros, and the popular weekend farmers market. The beach and iconic Naples Pier are only two blocks away, making this location truly unbeatable. The two-bedroom, one-bath residence has been thoughtfully updated with quartz countertops, luxury vinyl flooring, and is offered

Key facts

• Club room
• Bocce ball
• Large community pool

Tags

• NEWLY RENOVATED
• LARGE COMMUNITY POOL
• SHUFFLEBOARD
• BOCCE BALL
• CLUB ROOM
• TWO BLOCKS FROM THE BEACH

Property features AI

Finance

• Other: Part of a complex with 313 units and 18 units in this building; building has 1 floor; one unit per floor
• HOA & community: Mandatory HOA (professional management); Quarterly condo fee ($2,532); Annual recurring fees total $10,128; Maintenance covers insurance, internet/WiFi, irrigation water, laundry facilities, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserves, sewer, street maintenance, trash removal, and water; Community amenities include BBQ/picnic area, bike storage, bocce court, common laundry, community pool, community room, and shuffleboard; Non-gated community

Exterior

• Parking: 1 assigned parking space
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise building (1–3 stories); Rear exposure facing north; Located in Village Green / Bonaire Club development; Entry level: single-floor unit
• Construction: Concrete block construction; Built in 1964
• Exterior features: Stucco exterior; Single-hung windows; Shingle roof; Landscaped area and parking lot view; City-maintained road; Limited number of vehicles restriction

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator / icemaker
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom with shower-only master bath
• Heating & cooling: Wall unit heat; Wall unit cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire / high-speed available; Custom mirrors; Smoke detectors; Window coverings; Dining area open to living; Great room
• Laundry & utility: Common laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $499k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $465k (6.9% below list).
• Meets the 1% rule at list price ($5k rent vs $499k).
• Recommended offer: $439k (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.
• 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 23d 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 $5,349/mo this rent would consume 49% of the median local household income ($131k/yr) (locally 333% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($3k loan paydown + $20k appreciation (4.1% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 377 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 10y ago; this cycle's ask is 7577% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $439,120 (12.0% 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 377 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.07% ✓
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 7.8

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: 12.1%
• Equity multiple: 1.76×
• Total profit: $105,880
• Equity at exit: $255,439

10-year hold

• IRR: 16.3%
• Equity multiple: 3.96×
• Total profit: $413,489
• Equity at exit: $419,749

Cash invested: $139,720 (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: 7.8×

Monthly cashflow live

• Estimated rent: $5,349 medium
• Mortgage (P&I): −$2,617
• Tax from tax record: −$325 /mo · $3,895/yr
• Insurance: −$208
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$844
• Vacancy / Maint / Mgmt: −$1,123
• Net cashflow: $-194

Break-even live

Break-even rent $5,595

Max offer price $464,664

Occupancy floor 99%

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Broad Ave S Unit H404 Naples, FL	2.0	2.0	890	$9,995	$11.23	23d	1	0.02mi
421 12th Ave S Unit A1 Naples, FL	2.0	1.0	760	$6,400	$8.42	13d	1	0.03mi
473 12th Ave S Naples, FL	1.0–2.0	1.0–2.0	700	$7,200	$10.29	23d	2	0.04mi
546 Broad Ave S #546 Naples, FL	2.0	2.0	890	$4,800	$5.39	23d	1	0.09mi
609 12th Ave S #609 Naples, FL	2.0	2.0	860	$8,000	$9.30	23d	1	0.18mi
636 Broad Ave S Unit 1259386P Naples, FL	2.0	2.0	882	$4,307	$4.88	13d	1	0.18mi
940 3rd St S Naples, FL	1.0–2.0	1.0–2.0	870	$3,995	$4.59	23d	2	0.28mi
1295 Gulf Shore Blvd S #218 Naples, FL	2.0	2.0	662	$10,479	$15.83	23d	1	0.29mi
960 7th St S #103 Naples, FL	1.0	1.0	534	$5,000	$9.36	23d	1	0.30mi
351 8th Ave S #351 Naples, FL	2.0	2.0	930	$4,000	$4.30	23d	1	0.38mi
291 8th Ave S Unit 291A Naples, FL	1.0	1.0	550	$3,900	$7.09	23d	1	0.39mi
250 7th Ave S #301 Naples, FL	2.0	2.0	1000	$10,000	$10.00	23d	1	0.43mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$8,000	$8.58	13d	2	0.46mi
365 5th Ave S #303 Naples, FL	2.0	2.0	1090	$13,000	$11.93	23d	1	0.58mi
950 7th Ave S #23 Naples, FL	1.0	1.0	631	$3,250	$5.15	13d	1	0.60mi
980 7th Ave S Naples, FL	1.0	1.0	540	$7,500	$13.89	23d	2	0.61mi
480 5th St S #102 Naples, FL	1.0	1.0	600	$6,500	$10.83	23d	1	0.62mi
540 4th Ave S #13 Naples, FL	1.0	1.0	580	$5,000	$8.62	23d	1	0.62mi
388 4th Ave S #388 Naples, FL	2.0	2.0	965	$13,000	$13.47	23d	1	0.63mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	23d	2	0.63mi
296 4th Ave S #296 Naples, FL	2.0	2.5	1120	$2,950	$2.63	21d	1	0.64mi
1100 8th Ave S Naples, FL	2.0	2.0	1218	$9,000	$7.39	13d	5	0.67mi
230 3rd Ave S #4 Naples, FL	2.0	2.5	978	$12,000	$12.27	23d	1	0.72mi
290 4th St S #202 Naples, FL	2.0	2.0	1058	$10,000	$9.45	23d	1	0.74mi
286 4th St S #203 Naples, FL	2.0	2.0	1058	$10,000	$9.45	23d	1	0.74mi
284 4th St S #103 Naples, FL	2.0	2.0	979	$9,000	$9.19	23d	1	0.74mi
282 4th St S Naples, FL	2.0	2.0	1058	$11,000	$10.40	23d	1	0.74mi
1360 Chesapeake Ave Unit 1372 Naples, FL	1.0	1.0	600	$1,850	$3.08	23d	1	0.82mi
805 River Point Dr Unit 307C Naples, FL	1.0	1.0	816	$2,700	$3.31	23d	1	0.84mi
803 River Point Dr Unit 201B Naples, FL	1.0	1.0	715	$2,300	$3.22	23d	1	0.86mi
801 River Point Dr Unit 303A Naples, FL	1.0	1.0	815	$5,000	$6.13	21d	1	0.87mi
1395 Curlew Ave Unit 4-3 Naples, FL	2.0	2.0	975	$7,000	$7.18	23d	1	0.87mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	23d	1	0.91mi
1435 Curlew Ave #1 Naples, FL	2.0	2.0	975	$2,850	$2.92	21d	1	0.91mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	23d	4	0.91mi
101 8th St S Naples, FL	1.0	1.0–2.0	940	$12,600	$13.40	13d	4	0.91mi
1555 Blue Point Ave Unit 3 Naples, FL	2.0	2.0	1025	$1,745	$1.70	13d	1	0.95mi
766 Central Ave Naples, FL	2.0–3.0	2.0	855	$6,300	$7.37	21d	3	0.95mi
766 Central Ave Naples, FL	2.0–3.0	2.0	943	$5,000	$5.30	13d	4	0.95mi
450 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.5	1324	$8,750	$6.61	23d	6	0.96mi

HOA detail condo

• Monthly dues: $844 · $10,128/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $499,000 Active 377 DOM
2. 2026-06-17
   days on market $499,000 Active 376 DOM
3. 2026-06-16
   days on market $499,000 Active 375 DOM
4. 2026-06-15
   days on market $499,000 Active 374 DOM
5. 2026-06-10
   days on market $499,000 Active 369 DOM
6. 2026-06-09
   days on market $499,000 Active 368 DOM
7. 2026-06-08
   days on market $499,000 Active 367 DOM
8. 2026-06-07
   days on market $499,000 Active 366 DOM
9. 2026-06-02
   days on market $499,000 Active 361 DOM
10. 2026-06-01
    days on market $499,000 Active 360 DOM
11. 2026-05-31
    days on market $499,000 Active 359 DOM
12. 2026-05-30
    days on market $499,000 Active 358 DOM
13. 2026-04-25
    price $510,000
14. 2026-03-26
    listed $6,500
15. 2026-03-26
    historical $2,999
16. 2026-03-26
    listed $2,999
17. 2026-03-25
    historical $6,500
18. 2026-03-24
    status Active
19. 2026-01-27
    historical
20. 2026-01-08
    listed $6,500
21. 2026-01-08
    historical $6,500
22. 2025-08-02
    listed $6,500
23. 2025-08-02
    historical $3,500
24. 2025-07-31
    listed $3,500
25. 2025-07-21
    historical $3,500
26. 2025-07-09
    price $550,000
27. 2025-07-09
    status Active
28. 2025-07-07
    historical
29. 2025-04-12
    listed $3,500
30. 2025-04-10
    listed $599,000 Active
31. 2024-02-13
    historical
32. 2024-02-05
    price $580,000
33. 2023-10-31
    listed $585,500 Active
34. 2023-10-31
    historical
35. 2023-10-21
    price $599,975
36. 2023-09-18
    listed $605,000 Active
37. 2023-03-13
    historical
38. 2022-10-19
    listed $589,750 Active
39. 2022-10-19
    historical
40. 2022-09-13
    listed $599,500 Active
41. 2022-08-22
    soldstatus $575,000
42. 2022-08-19
    soldstatus $575,000 Sold
43. 2022-08-06
    status Pending
44. 2022-07-29
    status Active
45. 2022-07-29
    historical
46. 2022-07-28
    listed $599,000 Active
47. 2020-07-29
    soldstatus $277,875 Sold
48. 2020-06-29
    status Pending
49. 2020-06-10
    status Pending With Contingencies
50. 2020-05-23
    price $309,900

ⓘ 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: $3,895 · $325/mo
• Projected year-2 tax: $4,142 · $345/mo
• Expected delta: +$246/yr (+$21/mo · 6.3%)

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

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: $64,185
• − Mortgage interest: −$27,952
• − Property taxes: −$3,895
• − Insurance: −$7,614
• − Repairs & maintenance: −$5,135
• − Management: −$5,135
• − HOA: −$10,128
• − Depreciation: −$14,516
• Taxable loss: −$10,190
• Est. tax savings @ 24.0%: +$2,446
• After-tax cash flow: $113/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

+500.0% since first listed

47 events — show timeline

• 2026-04-25 Price Changed $510,000 NAPLESMLS
• 2026-03-26 Listed for Rent $6,500 NAPLESMLS
• 2026-03-26 Rental Removed $2,999 FGCMLS
• 2026-03-26 Listed for Rent $2,999 FGCMLS
• 2026-03-25 Rental Removed $6,500 FGCMLS
• 2026-03-24 Relisted — NAPLESMLS
• 2026-01-27 Listing Removed — NAPLESMLS
• 2026-01-08 Listed for Rent $6,500 FGCMLS
• 2026-01-08 Rental Removed $6,500 NAPLESMLS
• 2025-08-02 Listed for Rent $6,500 NAPLESMLS
• 2025-08-02 Rental Removed $3,500 NAPLESMLS
• 2025-07-31 Listed for Rent $3,500 NAPLESMLS
• 2025-07-21 Rental Removed $3,500 NAPLESMLS
• 2025-07-09 Price Changed $550,000 NAPLESMLS
• 2025-07-09 Relisted — NAPLESMLS
• 2025-07-07 Listing Removed — NAPLESMLS
• 2025-04-12 Listed for Rent $3,500 NAPLESMLS
• 2025-04-10 Listed $599,000 NAPLESMLS
• 2024-02-13 Listing Removed — NAPLESMLS
• 2024-02-05 Price Changed $580,000 NAPLESMLS
• 2023-10-31 Listing Removed — NAPLESMLS
• 2023-10-31 Listed $585,500 NAPLESMLS
• 2023-10-21 Price Changed $599,975 NAPLESMLS
• 2023-09-18 Listed $605,000 NAPLESMLS
• 2023-03-13 Listing Removed — NAPLESMLS
• 2022-10-19 Listing Removed — NAPLESMLS
• 2022-10-19 Listed $589,750 NAPLESMLS
• 2022-09-13 Listed $599,500 NAPLESMLS
• 2022-08-22 Sold (Public Records) $575,000 Public Records
• 2022-08-19 Sold (MLS) $575,000 NAPLESMLS
• 2022-08-06 Pending — NAPLESMLS
• 2022-07-29 Relisted — NAPLESMLS
• 2022-07-29 Listing Removed — NAPLESMLS
• 2022-07-28 Listed $599,000 NAPLESMLS
• 2020-07-29 Sold (MLS) $277,875 NAPLESMLS
• 2020-06-29 Pending — NAPLESMLS
• 2020-06-10 Pending — NAPLESMLS
• 2020-05-23 Price Changed $309,900 NAPLESMLS
• 2020-05-10 Listed $329,900 NAPLESMLS
• 2016-09-16 Price Changed $230,000 NAPLESMLS
• 2016-09-16 Sold (Public Records) $230,000 Public Records
• 2016-09-15 Sold (MLS) $230,000 NAPLESMLS
• 2016-09-13 Price Changed $269,900 NAPLESMLS
• 2016-07-18 Pending — NAPLESMLS
• 2016-05-25 Listed $269,900 NAPLESMLS
• 2001-01-11 Sold (Public Records) $122,000 Public Records
• 1999-10-20 Sold (Public Records) $85,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $3,895 · -10.2% YoY. Source: county tax records.