766 Central Ave #101 · Naples, FL 34102

$475,000

3 bd · 2.0 ba · 1,032 sqft · Condo public records · 217 Days on market

Built 1973 $1219/mo HOA · 18% 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 +25.1/30.0
• 1% rule +9.1/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 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

LOWEST PRICED 3 BEDROOM CONDO IN OLDE NAPLES! This is a great opportunity to own a 1st floor unit in Central Garden with 3 full bedrooms, assigned parking close to the unit and extra storage just steps away. The condo has a screened lanai that faces the beautiful pool area. The flooring has recently been upgraded to a wood-look vinyl and has been freshly painted. Central Garden has recently upgraded the elevators, railings and repainted the entire building. The complex is very well managed and maintained with all structural reports complete. This unit sustained no water damage from either Irma or Ian! Priced as one of the very best values in all of Olde Naples.

Key facts

• Extra storage
• Screened lanai
• 1st floor unit

Tags

• 1ST FLOOR UNIT
• ASSIGNED PARKING
• EXTRA STORAGE
• SCREENED LANAI
• BEAUTIFUL POOL AREA
• UPGRADED ELEVATORS

Property features AI

Finance

• Other: One unit per floor; 1 unit in this unit's floor; 60 units in the complex, 30 units in the building; Single-story unit
• HOA & community: Mandatory HOA (Condo/Hotel); Quarterly condo fee; Condo fee: $3,657 quarterly; Total annual recurring HOA fees: $14,628; Total one-time fees: $150; Professional management; HOA maintenance covers cable, insurance, internet/WiFi, laundry facilities, lawn/land maintenance, legal/accounting, manager, exterior pest control, reserves, trash removal, and water; Community amenities include BBQ/picnic area, bike storage, common laundry, and community pool

Exterior

• Parking: 1 assigned parking space; Guest parking
• Utilities: Central water; Sewer assessment paid; Cable available
• Home design: Residential condo in a low-rise (1-3) building; Built in 1973; Rear exposure facing north; Located in Olde Naples (Central Garden), unit 101
• Construction: Concrete block construction
• Exterior features: Stucco exterior; Impact resistant doors; Impact resistant windows; Single hung windows; Built-up or flat roof; Pool/club view; Zero lot line; City-maintained road; No RVs allowed

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Bar; Built-in cabinets; Cable prewire; High-speed internet available; Walk-in closet; Dining area (family); Screened lanai/porch; Common elevator; Turnkey furnished
• Laundry & utility: Laundry facilities (community)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $475k.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $475k).
• Recommended offer: $418k (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 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).
• At $6,710/mo this rent would consume 61% 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 $23k of equity ($3k loan paydown + $19k 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 $133k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $80k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $335k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 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: 1.41% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 5.9

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: 19.3%
• Equity multiple: 2.21×
• Total profit: $160,961
• Equity at exit: $243,154

10-year hold

• IRR: 22.9%
• Equity multiple: 5.15×
• Total profit: $552,265
• Equity at exit: $399,561

Cash invested: $133,000 (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: 5.9×

Monthly cashflow live

• Estimated rent: $6,710 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$346 /mo · $4,147/yr
• Insurance: −$198
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,219
• Vacancy / Maint / Mgmt: −$1,409
• Net cashflow: $621

Break-even live

Break-even rent $5,924

Max offer price $475,000

Occupancy floor 86%

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
766 Central Ave Naples, FL	2.0–3.0	2.0	943	$6,500	$6.89	13d	4	0.03mi
766 Central Ave Naples, FL	2.0–3.0	2.0	855	$6,500	$7.60	21d	3	0.03mi
850 Central Ave Naples, FL	2.0–3.0	2.0–3.0	1530	$18,000	$11.76	13d	4	0.05mi
1115 Central Ave Naples, FL	2.0	2.5	1735	$14,000	$8.07	23d	3	0.27mi
1111 Central Ave Naples, FL	2.0–3.0	2.0–3.5	1627	$17,000	$10.45	23d	4	0.27mi
1111 Central Ave Unit 417S Naples, FL	2.0	2.0	1265	$10,000	$7.91	23d	1	0.28mi
1111 Central Ave Unit 417A Naples, FL	2.0	2.0	1265	$6,500	$5.14	23d	1	0.28mi
1035 3rd Ave S Naples, FL	2.0	2.0	1268	$8,388	$6.61	21d	2	0.30mi
1035 3rd Ave S Naples, FL	2.0	2.0	1268	$8,538	$6.73	23d	2	0.30mi
1135 3rd Ave S Naples, FL	2.0	2.0–2.5	1679	$11,500	$6.85	21d	3	0.31mi
1135 3rd Ave S Naples, FL	2.0	2.0–2.5	1638	$15,750	$9.62	23d	2	0.31mi
1030 3rd Ave S Naples, FL	2.0–3.0	2.0–3.5	2101	$18,000	$8.57	23d	4	0.33mi
780 5th Ave S #302 Naples, FL	2.0	2.5	1449	$15,000	$10.35	13d	1	0.39mi
469 3rd Ave N Naples, FL	3.0	2.0	1400	$6,900	$4.93	23d	1	0.39mi
361 1st Ave N Naples, FL	3.0	3.0	1500	$16,000	$10.67	23d	1	0.39mi
284 4th St S #103 Naples, FL	2.0	2.0	979	$9,000	$9.19	23d	1	0.41mi
290 4th St S #202 Naples, FL	2.0	2.0	1058	$10,000	$9.45	23d	1	0.41mi
282 4th St S Naples, FL	2.0	2.0	1058	$11,000	$10.40	23d	1	0.41mi
286 4th St S #203 Naples, FL	2.0	2.0	1058	$10,000	$9.45	23d	1	0.41mi
116 3rd St N Naples, FL	3.0	2.5	1400	$14,000	$10.00	23d	1	0.43mi
341 3rd Ave S #341 Naples, FL	2.0	2.0	1300	$7,500	$5.77	23d	1	0.44mi
388 4th Ave S #388 Naples, FL	2.0	2.0	965	$13,000	$13.47	23d	1	0.47mi
280 2nd Ave S #206 Naples, FL	2.0	2.0	1162	$7,500	$6.45	21d	1	0.48mi
450 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.5	1324	$12,000	$9.06	23d	6	0.50mi
410 Bayfront Pl Naples, FL	1.0–3.0	1.0–2.0	1242	$9,750	$7.85	23d	6	0.50mi
401 Bayfront Pl Naples, FL	2.0	2.0	1367	$9,000	$6.58	23d	3	0.50mi
365 5th Ave S #303 Naples, FL	2.0	2.0	1090	$13,000	$11.93	23d	1	0.52mi
376 3rd St S #102 Naples, FL	2.0	2.0	1396	$14,000	$10.03	23d	1	0.53mi
223 3rd Ave S #223 Naples, FL	2.0	2.0	1150	$6,500	$5.65	23d	1	0.53mi
451 Bayfront Pl Naples, FL	1.0–2.0	1.5–2.0	1421	$11,000	$7.74	23d	2	0.53mi
296 4th Ave S #296 Naples, FL	2.0	2.5	1120	$2,950	$2.63	21d	1	0.54mi
230 3rd Ave S #4 Naples, FL	2.0	2.5	978	$12,000	$12.27	23d	1	0.55mi
307 Goodlette-Frank Rd S Unit B506 Naples, FL	2.0	2.0	1166	$6,800	$5.83	23d	1	0.57mi
302 2nd St S #302 Naples, FL	2.0	2.0	1340	$15,000	$11.19	23d	1	0.58mi
301 6th Ave S Unit D Naples, FL	2.0	2.0	1300	$3,950	$3.04	23d	1	0.59mi
900 8th Ave S #105 Naples, FL	2.0	2.0	1142	$5,000	$4.38	23d	1	0.62mi
1100 8th Ave S Naples, FL	2.0	2.0	1218	$9,000	$7.39	13d	5	0.63mi
175 5th Ave S Naples, FL	2.0	2.0	732	$14,000	$19.13	23d	2	0.63mi
666 3rd St S Naples, FL	1.0–2.0	1.0–2.0	932	$8,000	$8.58	13d	2	0.67mi
351 8th Ave S #351 Naples, FL	2.0	2.0	930	$4,000	$4.30	23d	1	0.68mi

HOA detail condo

• Monthly dues: $1,219 · $14,628/yr
• Likely covers: waterpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $475,000 Active 217 DOM
2. 2026-06-17
   days on market $475,000 Active 216 DOM
3. 2026-06-16
   days on market $475,000 Active 215 DOM
4. 2026-06-15
   days on market $475,000 Active 214 DOM
5. 2026-06-10
   days on market $475,000 Active 209 DOM
6. 2026-06-09
   days on market $475,000 Active 208 DOM
7. 2026-06-08
   days on market $475,000 Active 207 DOM
8. 2026-06-07
   days on market $475,000 Active 206 DOM
9. 2026-06-03
   days on market $475,000 Active 202 DOM
10. 2026-06-02
    days on market $475,000 Active 201 DOM
11. 2026-06-01
    days on market $475,000 Active 200 DOM
12. 2026-05-31
    days on market $475,000 Active 199 DOM
13. 2026-05-30
    days on market $475,000 Active 198 DOM
14. 2026-05-22
    price $475,000
15. 2026-03-24
    price $497,000
16. 2025-12-05
    price $535,000
17. 2025-11-13
    listed $555,000 Active
18. 2025-06-29
    historical $5,990
19. 2025-06-11
    listed $5,990
20. 2025-06-02
    historical $5,975
21. 2024-11-26
    listed $5,975
22. 2024-11-14
    historical $5,975
23. 2024-06-20
    listed $5,975
24. 2005-08-15
    soldstatus $335,000

ⓘ 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: $4,147 · $346/mo
• Projected year-2 tax: $4,147 · $346/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $80,515
• − Mortgage interest: −$26,607
• − Property taxes: −$4,147
• − Insurance: −$7,494
• − Repairs & maintenance: −$6,441
• − Management: −$6,441
• − HOA: −$14,628
• − Depreciation: −$13,818
• Taxable income: $938
• Est. tax owed @ 24.0%: −$225
• After-tax cash flow: $7,221/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

+41.8% since first listed

11 events — show timeline

• 2026-05-22 Price Changed $475,000 NAPLESMLS
• 2026-03-24 Price Changed $497,000 NAPLESMLS
• 2025-12-05 Price Changed $535,000 NAPLESMLS
• 2025-11-13 Listed $555,000 NAPLESMLS
• 2025-06-29 Rental Removed $5,990 NAPLESMLS
• 2025-06-11 Listed for Rent $5,990 NAPLESMLS
• 2025-06-02 Rental Removed $5,975 NAPLESMLS
• 2024-11-26 Listed for Rent $5,975 NAPLESMLS
• 2024-11-14 Rental Removed $5,975 NAPLESMLS
• 2024-06-20 Listed for Rent $5,975 NAPLESMLS
• 2005-08-15 Sold (Public Records) $335,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $4,147 · +5.3% YoY. Source: county tax records.