9144 Delano St #9504 · Lely Resort, FL 34113

$399,900

3 bd · 2.0 ba · 1,771 sqft · Condo public records · 131 Days on market

Built 2007 $1244/mo HOA · 21% of rent ↓ 15% since listing

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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 +23.4/30.0
• 1% rule +9.8/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This BEAUTIFULLY UPDATED 3-bedroom, 2-bath residence in the highly sought-after Olé at Lely Resort welcomes you with a LIGHT-FILLED foyer adorned in soft, neutral tones and direct access to a PRIVATE TWO-CAR GARAGE. Designed for both effortless everyday living and a LOCK-AND-LEAVE lifestyle, all main living areas are thoughtfully situated on the upper level. Upstairs, an AIRY OPEN-CONCEPT SAN PABLO floor plan showcases a seamless blend of COMFORT and SOPHISTICATION. The GREAT ROOM and dining area flow effortlessly from the kitchen, creating an inviting yet refined space ideal for entertaining or relaxed coastal living. The kitchen is appointed with warm wood cabinetry, RICH GRANITE c

Key facts

• Spacious balcony
• Light filled foyer
• Open concept design

Tags

• LIGHT FILLED FOYER
• PRIVATE TWO CAR GARAGE
• OPEN CONCEPT DESIGN
• GREAT ROOM
• SPACIOUS BALCONY
• SPLIT BEDROOM LAYOUT

Property features AI

Other

• Other: 2 units per floor; 8 units in building; 623 units in complex; 2 total floors in building; Possession at closing; Subdivision (OLE) in development Lely Resort

Finance

• Other: Community type: non-gated, tennis; public golf access
• Financial info: Total annual recurring fees $14,939; Total one-time fees $5,250; One-time special assessment fee $4,800
• HOA & community: Mandatory HOA; Master association fee $99 annually; Condo fee $3,710 quarterly; Professional management; Maintenance covers: legal/accounting, manager, master association fee included, exterior pest control, recreation facilities, repairs, reserves, sewer, street lights, street maintenance, trash removal; Community amenities: clubhouse, community pool and spa, exercise room, tennis, pickleball, bocce, basketball, volleyball, bike/jog path, sidewalks, streetlights, BBQ/picnic, restaurant, library, theater, underground utilities

Exterior

• Parking: Attached 2-car garage; Guest parking
• Security: Impact resistant doors and windows
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property in Lely Resort; Low-rise (1-3) building; 2-story building; Rear exposure facing southeast
• Construction: Concrete block construction; Built in 2007; Stucco finish; Tile roof
• Exterior features: Stucco exterior; Tile roof; Impact resistant doors and windows; Single hung and sliding windows; Central irrigation; Landscaped area view; Zero lot line; Lot unit 4; Restrictions: limited number of vehicles, no commercial, no RV

Interior

• Kitchen: Kitchen island; Breakfast bar / dining (living); Dishwasher; Disposal; Microwave; Range; Refrigerator/ice maker
• Bedrooms: 3 bedrooms (split bedroom floor plan)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and separate tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Foyer; High-speed internet available; Pantry; Walk-in closet; Window coverings; Balcony; Screened balcony; Guest bath; Guest room; Laundry in residence; Furnished
• Laundry & utility: Washer; Dryer; Auto garage door

Utilities

• Utilities: Central water; Central sewer; Central electric heat; Central electric cooling; Ceiling fans; Cable available

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#786 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; Watch: health & safety D, schools F, 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.
• Market conditions: Rents rising fast (+5.6%/yr); 597 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 $5,912/mo this rent would consume 87% of the median local household income ($82k/yr) (locally 954% 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 $12k 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 ($352k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $351,912 (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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.48% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.92%
• DSCR: 1.35
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-28,031
• Equity at exit: $59,626

10-year hold

• IRR: 7.4%
• Equity multiple: 1.66×
• Total profit: $73,948
• Equity at exit: $34,576

Cash invested: $111,972 (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 34113

• Rents YoY: 5.6%
• Active inventory: 597
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $5,912 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$424 /mo · $5,088/yr
• Insurance: −$167
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,244
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $312

Break-even live

Break-even rent $5,517

Max offer price $399,900

Occupancy floor 90%

Sensitivity live

Price	-10% $539	-5% $426	+0% $312	+5% $199	+10% $86
Rent	-10% $-155	-5% $79	+0% $312	+5% $546	+10% $779
Rate	-1.0pp $514	-0.5pp $414	base $312	+0.5pp $209	+1.0pp $103

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9151 Delano St #9702 Naples, FL	3.0	2.5	1733	$2,650	$1.53	14d	1	0.01mi
9155 Delano St Unit 1545913P Naples, FL	3.0	2.0	1797	$3,871	$2.15	14d	1	0.03mi
9159 Delano St #9905 Naples, FL	3.0	2.0	1770	$4,995	$2.82	24d	1	0.04mi
9118 Chula Vista St #12002 Naples, FL	2.0	2.5	1531	$4,200	$2.74	24d	1	0.10mi
9161 Chula Vista St Unit 135-2 Naples, FL	4.0	3.0	1776	$7,500	$4.22	24d	1	0.11mi
9111 Capistrano St S #8303 Naples, FL	2.0	2.5	1432	$7,500	$5.24	24d	1	0.13mi
9115 Capistrano St S #8207 Naples, FL	2.0	2.5	1494	$6,000	$4.02	24d	1	0.14mi
9187 Celeste Dr Unit 1073494P Naples, FL	2.0	2.0	1399	$2,979	$2.13	14d	1	0.15mi
9109 Yuba Ln Unit 80 Naples, FL	3.0	2.5	1729	$3,900	$2.26	24d	1	0.18mi
9102 Chula Vista St #11302 Naples, FL	2.0	2.5	1531	$2,695	$1.76	22d	1	0.18mi
9092 Chula Vista St #11003 Naples, FL	2.0	2.0	1404	$6,850	$4.88	24d	1	0.20mi
9102 Capistrano St S Unit 72-3 Naples, FL	2.0	2.5	1520	$6,500	$4.28	24d	1	0.21mi
9088 Chula Vista St Unit 108-3 Naples, FL	2.0	2.0	1404	$5,700	$4.06	24d	1	0.22mi
9081 Albion Ln S #6505 Naples, FL	2.0	2.0	1225	$7,500	$6.12	24d	1	0.26mi
9081 Albion Ln S #6510 Naples, FL	3.0	2.5	2004	$6,280	$3.13	14d	1	0.26mi
9072 Rialto St #6302 Naples, FL	3.0	2.0	1771	$8,250	$4.66	22d	1	0.28mi
9076 Rialto St Unit 62 Naples, FL	3.0	2.5	1624	$7,500	$4.62	24d	1	0.29mi
9073 Rialto St #6002 Naples, FL	3.0	2.0	1771	$7,500	$4.23	24d	1	0.32mi
9071 Albion Ln N #5706 Naples, FL	2.0	2.5	1441	$2,200	$1.53	24d	1	0.33mi
9066 Albion Ln N #5106 Naples, FL	3.0	2.5	1715	$6,500	$3.79	22d	1	0.34mi
9066 Albion Ln N Unit 51-1 Naples, FL	3.0	2.5	1989	$7,000	$3.52	24d	1	0.34mi
9082 Capistrano St N Unit 48-5 Naples, FL	2.0	2.0	1227	$6,500	$5.30	24d	1	0.36mi
8965 Malibu Ln #802 Naples, FL	3.0	2.0	1771	$6,595	$3.72	24d	1	0.37mi
8967 Lely Island Cir Naples, FL	3.0	2.0	2056	$17,000	$8.27	24d	1	0.40mi
8845 Lely Island Cir Naples, FL	3.0	2.0	2373	$12,500	$5.27	24d	1	0.45mi
8519 Chase Preserve Dr Naples, FL	2.0	2.0	1827	$9,000	$4.93	24d	1	0.45mi
6590 Beach Resort Dr Unit 305 Naples, FL	2.0	2.0	1351	$4,500	$3.33	14d	1	0.45mi
9054 Capistrano St N #4003 Naples, FL	2.0	2.0	1385	$2,495	$1.80	24d	1	0.46mi
9054 Capistrano St N #4002 Naples, FL	3.0	2.0	1674	$6,000	$3.58	24d	1	0.46mi
8175 Celeste Dr Naples, FL	2.0	2.0	1460	$2,395	$1.64	24d	1	0.54mi
8175 Celeste Dr #1229 Naples, FL	3.0	2.0	1640	$2,975	$1.81	24d	1	0.54mi
8175 Celeste Dr #1230 Naples, FL	2.0	2.0	1476	$2,775	$1.88	24d	1	0.54mi
9025 Alturas St #3102 Naples, FL	2.0	3.0	1531	$3,400	$2.22	24d	1	0.56mi
8135 Celeste Dr #4218 Naples, FL	2.0	2.0	1476	$7,500	$5.08	24d	1	0.56mi
7052 Live Oak Dr Naples, FL	2.0	2.0	1685	$9,000	$5.34	24d	1	0.56mi
6650 Beach Resort Dr Unit 908 Naples, FL	2.0	2.0	1351	$4,600	$3.40	14d	1	0.60mi
8986 Cambria Cir #2204 Naples, FL	3.0	2.0	1771	$7,500	$4.23	24d	1	0.61mi
8986 Cambria Cir Unit 22 Naples, FL	2.0	2.0	1404	$6,000	$4.27	24d	1	0.61mi
8500 Mystic Greens Way Unit 5-505 Naples, FL	3.0	2.5	2396	$5,000	$2.09	24d	1	0.64mi
7103 Lily Way Naples, FL	4.0	3.0	2461	$8,000	$3.25	22d	1	0.64mi

HOA detail condo

• Monthly dues: $1,244 · $14,928/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $399,900 Active 131 DOM
2. 2026-06-17
   days on market $399,900 Active 130 DOM
3. 2026-06-16
   days on market $399,900 Active 129 DOM
4. 2026-06-15
   days on market $399,900 Active 128 DOM
5. 2026-06-14
   days on market $399,900 Active 126 DOM
6. 2026-06-10
   days on market $399,900 Active 123 DOM
7. 2026-06-09
   days on market $399,900 Active 122 DOM
8. 2026-06-08
   days on market $399,900 Active 121 DOM
9. 2026-06-07
   days on market $399,900 Active 120 DOM
10. 2026-06-03
    days on market $399,900 Active 116 DOM
11. 2026-06-02
    days on market $399,900 Active 115 DOM
12. 2026-06-01
    days on market $399,900 Active 114 DOM
13. 2026-05-31
    days on market $399,900 Active 113 DOM
14. 2026-05-30
    days on market $399,900 Active 112 DOM
15. 2026-04-24
    price $399,900
16. 2026-03-04
    price $419,900
17. 2026-02-07
    listed $469,000 Active

ⓘ 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: $5,088 · $424/mo
• Projected year-2 tax: $5,088 · $424/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 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 30 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: $70,947
• − Mortgage interest: −$22,401
• − Property taxes: −$5,088
• − Insurance: −$7,118
• − Repairs & maintenance: −$5,676
• − Management: −$5,676
• − HOA: −$14,928
• − Depreciation: −$11,633
• Taxable loss: −$1,573
• Est. tax savings @ 24.0%: +$377
• After-tax cash flow: $4,126/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 — Lely Resort

• Score: 61/100
• State rank: #786
• US rank: #17981

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lely Resort, FL
• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,056
• Household income: $81,674
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 954.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 10% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Vietnam
• Languages at home: 63% English-only · Spanish 24% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -194.86%
• Current HPI: 279.4232
• Rent YoY: ▲ 5.59%
• 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

-14.7% since first listed

3 events — show timeline

• 2026-04-24 Price Changed $399,900 NAPLESMLS
• 2026-03-04 Price Changed $419,900 NAPLESMLS
• 2026-02-07 Listed $469,000 NAPLESMLS

Property tax history

+6.6%/yr

Latest (2025): $5,088 · +10.4% YoY. Source: county tax records.