501 Lake Louise Cir #204 · Bonita Springs, FL 34110

$310,000

3 bd · 2.0 ba · 1,384 sqft · Condo public records · 131 Days on market

Built 1988 $740/mo HOA · 15% 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
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Lake view end-unit condo near Vanderbilt Beach with rental flexibility in a guard-gated Naples community—ideal as a primary residence, seasonal getaway, or investment property. This 3BR/2BA home features Eastern lake views, vaulted ceilings, plantation shutters, and a private lanai with electric hurricane shutters. The updated kitchen includes quartz countertops, custom wood cabinetry, soft-close drawers, and a glass backsplash. Tile flooring in main areas offers easy maintenance. Flexible layout includes a primary suite with walk-in closet, guest bedroom, and third bedroom/den with impact glass window—perfect for a home office or additional guests. Key features: end unit, lake

Key facts

• Glass backsplash
• Quartz countertops
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• CUSTOM WOOD CABINETRY
• SOFT-CLOSE DRAWERS
• QUARTZ COUNTERTOPS
• GLASS BACKSPLASH
• EASY-CARE TILE FLOORING

Property features AI

Finance

• Other: Part of a complex with 44 units; 8 units in the building; 2 units per floor; 1 floor in building configuration
• Financial info: Condo fee paid quarterly
• HOA & community: Mandatory HOA (professional management); Quarterly condo fee; Amenities include bike and jog path, community pool, community spa/hot tub, sidewalks, streetlights, and tennis court; Maintenance covers insurance, irrigation water, lawn/land maintenance, legal/accounting, manager, master association fee, security, and street lights; Total annual recurring HOA fees provided; Total one-time HOA fees provided; Gated community

Exterior

• Parking: 1 assigned parking space; Guest parking; Detached 1-car garage
• Security: Gated with guard at gate and patrolled community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise (1–3 stories); 2-story end unit; Rear exposure to the east; Part of the RETREAT development
• Construction: Concrete block construction; Built in 1988
• Exterior features: Shingle roof; Stucco exterior; Impact resistant windows; Single hung and sliding windows; Electric shutters; Gated community with guard at gate and patrol; Regular lot; Paved road; Deeded restrictions: No commercial, No RV; Lakefront view/waterfront on a lake; Reclaimed irrigation

Interior

• Kitchen: Pantry; Dishwasher; Microwave; Range; Refrigerator/Freezer
• Bedrooms: 3 bedrooms (split bedroom layout)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: High-speed internet available; Pantry; Vaulted ceiling; Walk-in closet; Window coverings; Den/Study; Great room; Guest room; Screened lanai/porch; Unfurnished; 3 ceiling fans
• Laundry & utility: Washer and dryer; Laundry in residence; Auto garage door

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $310k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 1.7% in Bonita Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: cost of living C-, health & safety D, amenities 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: Naples Park Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 395 students, 48% FRL); Gulf Coast High School (math 57% / reading 68%, grade B-, #93 of 667 statewide, top 14%, 2,447 students, 20% FRL) — zoned schools average 34% FRL vs 55% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.1%/yr); 595 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); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $4,878/mo this rent would consume 60% of the median local household income ($98k/yr) (locally 1006% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $79k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $310k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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. 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.
8. 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.
9. 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: 1.57% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $5,351
• Equity at exit: $46,222

10-year hold

• IRR: 7.4%
• Equity multiple: 1.47×
• Total profit: $40,656
• Equity at exit: $26,803

Cash invested: $86,800 (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 34110

• Rents YoY: -1.1%
• Active inventory: 595
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $4,878 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$129
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$740
• Vacancy / Maint / Mgmt: −$1,024
• Net cashflow: $1,090

Break-even live

Break-even rent $3,498

Max offer price $310,000

Occupancy floor 73%

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Lake Louise Cir #101 Naples, FL	2.0	2.0	1444	$5,500	$3.81	23d	1	0.04mi
513 Lake Louise Cir #202 Naples, FL	2.0	2.0	1444	$5,300	$3.67	23d	1	0.10mi
298 Emerald Bay Cir Unit K6 Naples, FL	2.0	2.0	1202	$4,750	$3.95	23d	1	0.16mi
306 Emerald Bay Cir Unit J5 Naples, FL	3.0	2.0	1490	$5,900	$3.96	23d	1	0.20mi
306 Emerald Bay Cir Unit J8 Naples, FL	2.0	2.0	1350	$4,000	$2.96	23d	1	0.20mi
386 Emerald Bay Cir Unit G4 Naples, FL	3.0	2.0	1490	$2,500	$1.68	23d	1	0.27mi
526 Lake Louise Cir Unit 4-403 Naples, FL	3.0	2.0	1740	$6,500	$3.74	23d	1	0.28mi
15161 Cedarwood Ln Naples, FL	2.0	2.0	1267	$4,000	$3.16	23d	3	0.40mi
341 Emerald Bay Cir Unit T5 Naples, FL	3.0	2.0	1611	$4,500	$2.79	23d	1	0.41mi
15191 Cedarwood Ln #2602 Naples, FL	2.0	2.0	1267	$2,300	$1.82	23d	1	0.41mi
1001 Arbor Lake Dr Naples, FL	2.0–3.0	2.0–2.5	1755	$5,500	$3.13	23d	2	0.42mi
290 Naples Cove Dr Naples, FL	2.0	2.0	1327	$3,400	$2.56	23d	3	0.43mi
285 Naples Cove Dr #1103 Naples, FL	2.0	2.0	1267	$2,475	$1.95	23d	1	0.48mi
270 Naples Cove Dr #3506 Naples, FL	3.0	2.0	1475	$2,500	$1.69	21d	1	0.49mi
15400 Cedarwood Ln Unit 1-201 Naples, FL	2.0	2.0	1286	$6,000	$4.67	23d	1	0.49mi
15400 Cedarwood Ln #102 Naples, FL	2.0	2.0	1286	$6,300	$4.90	14d	1	0.49mi
15415 Cedarwood Ln Unit 3 Naples, FL	2.0	2.0	1428	$2,200	$1.54	14d	1	0.54mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	14d	1	0.73mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	14d	4	0.81mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	23d	1	0.82mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	23d	1	0.82mi
28940 Bermuda Pointe Cir #102 Bonita Springs, FL	2.0	2.0	1076	$5,500	$5.11	24d	1	0.85mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	23d	1	0.86mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	23d	1	0.86mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	23d	1	0.88mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	14d	1	0.91mi
28720 Bermuda Bay Way #205 Bonita Springs, FL	2.0	2.0	1097	$2,200	$2.01	15d	1	0.98mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	23d	1	1.00mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	23d	1	1.00mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	14d	1	1.00mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	23d	1	1.01mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	23d	1	1.03mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	23d	1	1.03mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	23d	1	1.04mi
28712 Carmel Way Bonita Springs, FL	3.0	2.5	1626	$9,250	$5.69	24d	1	1.05mi
13105 Vanderbilt Dr Naples, FL	2.0	2.0	1390	$5,450	$3.92	23d	2	1.05mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	21d	1	1.06mi
13105 Vanderbilt Dr #808 Naples, FL	2.0	2.0	1390	$5,500	$3.96	14d	1	1.06mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	23d	1	1.07mi
1390 Sweetwater Cv #203 Naples, FL	2.0	2.0	1279	$2,200	$1.72	14d	1	1.08mi

HOA detail condo

• Monthly dues: $740 · $8,880/yr
• Likely covers: electricsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-20
   status Pending
2. 2026-05-06
   status Pending With Contingencies
3. 2026-04-16
   price $310,000
4. 2026-04-06
   status Active
5. 2026-03-06
   historical
6. 2026-02-03
   price $364,900
7. 2026-01-02
   price $379,000
8. 2025-11-24
   listed $389,000 Active
9. 2015-05-14
   listed $179,900
10. 2009-03-27
    historical
11. 2008-09-09
    listed $219,500
12. 2004-04-30
    soldstatus $175,000
13. 2004-04-27
    soldstatus $175,000
14. 2004-03-29
    price $179,900
15. 2004-03-29
    historical
16. 1997-04-03
    soldstatus $110,000

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $2,573 · $214/mo
• Expected delta: +$1,171/yr (+$98/mo · 83.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AH · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 32 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,538
• − Mortgage interest: −$17,365
• − Property taxes: −$1,402
• − Insurance: −$3,374
• − Repairs & maintenance: −$4,683
• − Management: −$4,683
• − HOA: −$8,880
• − Depreciation: −$9,018
• Taxable income: $9,132
• Est. tax owed @ 24.0%: −$2,192
• After-tax cash flow: $10,889/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• City population: 64,727
• Metro: Naples-Marco Island, FL
• Population (ZIP): 25,630
• Household income: $97,564
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 1006.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -172.68%
• Current HPI: 267.4644
• Rent YoY: ▼ -1.06%
• 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

+181.8% since first listed

16 events — show timeline

• 2026-05-20 Pending — NAPLESMLS
• 2026-05-06 Pending — NAPLESMLS
• 2026-04-16 Price Changed $310,000 NAPLESMLS
• 2026-04-06 Relisted — NAPLESMLS
• 2026-03-06 Listing Removed — NAPLESMLS
• 2026-02-03 Price Changed $364,900 NAPLESMLS
• 2026-01-02 Price Changed $379,000 NAPLESMLS
• 2025-11-24 Listed $389,000 NAPLESMLS
• 2015-05-14 Listed $179,900 FORTMLS
• 2009-03-27 Listing Removed — NAPLESMLS
• 2008-09-09 Listed $219,500 NAPLESMLS
• 2004-04-30 Sold (Public Records) $175,000 Public Records
• 2004-04-27 Sold (MLS) $175,000 FORTMLS
• 2004-03-29 Listing Removed — FORTMLS
• 2004-03-29 Price Changed $179,900 FORTMLS
• 1997-04-03 Sold (Public Records) $110,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,402 · +2.7% YoY. Source: county tax records.