5857 Rattlesnake Hammock Rd #204 · Lely, FL 34113

$174,500

2 bd · 2.0 ba · 811 sqft · Condo public records · 212 Days on market

Built 1984 $616/mo HOA · 20% 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
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OWNER MOTIVATED!!! Wonderful 2 bedroom/ 2 bath, second floor condo with a beautiful view of Royal Palm Golf Course. Great newer kitchen and tiled floors in bathrooms, newer carpet, washer and dryer in the condo only a few years old. Covered carport with storage included. Wonderful community pool and association. Great location near new Costco and 75 and 41. Only a couple miles to beach and Olde Naples. Numerous golf courses in area, drive your own golfcart to the golf course.

Key facts

• Newer kitchen
• Community pool
• $616 HOA

Tags

• VIEW OF ROYAL PALM GOLF COURSE
• NEWER KITCHEN
• TILED FLOORS IN BATHROOMS
• COMMUNITY POOL
• COVERED CARPORT WITH STORAGE

Property features AI

Finance

• HOA & community: Mandatory HOA with monthly fee ($616); HOA covers cable, insurance, internet/WiFi, irrigation water, lawn/land maintenance, pest control (interior and exterior), reserves, sewer, street lights, street maintenance, trash removal and water; Professional management; Community amenities include pool, community room, extra storage, sidewalks and streetlights; Non-gated community; Total annual recurring HOA fees $7,392; one-time fees $150

Exterior

• Parking: 1 assigned covered paved parking space; Detached 1-car carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential property; Low rise (1-3) building; 2-story building; Rear exposure facing north; Located in the LELY development (Augusta Woods sub-condo)
• Construction: Concrete block construction; Built in 1984; Concrete block foundation
• Exterior features: Automatic sprinkler system; Storage; Stucco exterior; Single-hung windows; Shingle roof; Zero lot line; Paved private road access; Golf course, lake, pond, preserve, landscaped, water and wooded views

Interior

• Kitchen: Dishwasher; Range; Refrigerator/Freezer; Pantry
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and shower (no tub)
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Cathedral and vaulted ceilings; Smoke detectors; Window coverings; Pantry; Dining area open to living room; Family room; Screened balcony; Unfurnished
• Laundry & utility: Washer and dryer (in residence)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $174k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $174k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#586 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D+, 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.
• Market conditions: Rents rising fast (+5.6%/yr); 597 active listings in the ZIP; 23 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).
• This rent runs 44% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 5.6% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $90k; list at $174k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% 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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 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 D-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: 1.73% ✓
• Cap rate: 10.77%
• Cash-on-cash: 16.00%
• DSCR: 1.71
• GRM: 4.8

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: -2.7%
• Equity multiple: 0.89×
• Total profit: $-5,215
• Equity at exit: $26,019

10-year hold

• IRR: 11.2%
• Equity multiple: 2.05×
• Total profit: $51,502
• Equity at exit: $15,088

Cash invested: $48,860 (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: 4.8×

Monthly cashflow live

• Estimated rent: $3,026 high
• Mortgage (P&I): −$915
• Tax from tax record: −$135 /mo · $1,617/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$616
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $225

Break-even live

Break-even rent $2,741

Max offer price $174,500

Occupancy floor 88%

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: $43,625
• Closing costs: $5,235
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5841 Rattlesnake Hammock Rd Unit I-203 Naples, FL	2.0	2.0	1015	$3,500	$3.45	13d	1	0.07mi
905 Augusta Blvd Naples, FL	2.0	2.0	1125	$1,850	$1.64	23d	1	0.16mi
705 Augusta Blvd Unit 705-5 Naples, FL	2.0	2.0	1125	$2,000	$1.78	13d	1	0.27mi
605 Augusta Blvd #14 Naples, FL	2.0	2.0	1125	$4,000	$3.56	23d	1	0.33mi
605 Augusta Blvd #4 Naples, FL	2.0	2.0	1125	$3,950	$3.51	13d	1	0.33mi
4556 Andover Way Unit E104 Naples, FL	2.0	2.0	1072	$5,000	$4.66	13d	1	0.41mi
5651 Rattlesnake Hammock Rd Unit C-108 Naples, FL	2.0	2.0	1054	$1,800	$1.71	23d	1	0.56mi
5635 Rattlesnake Hammock Rd Apt 203D Naples, FL	2.0	2.0	1054	$1,700	$1.61	21d	1	0.60mi
6072 Polly Ave Naples, FL	1.0	1.0	720	$1,800	$2.50	23d	1	0.63mi
5499 Rattlesnake Hammock Rd Naples, FL	2.0	2.0	1071	$1,775	$1.66	13d	2	0.88mi
332 Charlemagne Blvd Unit H101 Naples, FL	2.0	2.0	1082	$3,500	$3.23	23d	1	0.96mi
332 Charlemagne Blvd Unit H103 Naples, FL	2.0	2.0	1082	$3,495	$3.23	23d	1	0.96mi
5419 Rattlesnake Hammock Rd Unit 307F Naples, FL	2.0	2.0	1071	$1,950	$1.82	13d	1	0.97mi
5665 Whitaker Rd #202 Naples, FL	2.0	2.0	1099	$1,900	$1.73	21d	1	0.97mi
360 Charlemagne Blvd Unit D105 Naples, FL	2.0	2.0	1082	$3,200	$2.96	23d	1	0.97mi
6026 Whitaker Rd Naples, FL	1.0–3.0	1.0–2.0	986	$2,880	$2.92	13d	39	0.98mi
7425 Inspira Cir Naples, FL	1.0–3.0	1.0–2.0	1066	$2,328	$2.18	13d	17	1.03mi
240 Pebble Beach Blvd #702 Naples, FL	2.0	2.0	1090	$4,000	$3.67	23d	1	1.07mi
326 Bradstrom Cir Unit 103F Naples, FL	2.0	2.0	1113	$1,800	$1.62	23d	1	1.12mi
190 Pebble Beach Blvd #301 Naples, FL	2.0	2.0	954	$1,700	$1.78	23d	1	1.16mi
200 Valley Stream Dr Unit 8B Naples, FL	2.0	2.0	979	$1,750	$1.79	23d	1	1.43mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	21d	1	1.45mi
300 Valley Stream Dr Unit 3D Naples, FL	2.0	2.0	979	$1,795	$1.83	23d	1	1.45mi

HOA detail condo

• Monthly dues: $616 · $7,392/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-17
   days on market $174,500 Active 212 DOM
2. 2026-06-16
   days on market $174,500 Active 211 DOM
3. 2026-06-15
   days on market $174,500 Active 210 DOM
4. 2026-06-10
   days on market $174,500 Active 205 DOM
5. 2026-06-09
   days on market $174,500 Active 204 DOM
6. 2026-06-08
   days on market $174,500 Active 203 DOM
7. 2026-06-07
   days on market $174,500 Active 202 DOM
8. 2026-06-03
   days on market $174,500 Active 198 DOM
9. 2026-06-02
   days on market $174,500 Active 197 DOM
10. 2026-06-01
    days on market $174,500 Active 196 DOM
11. 2026-05-31
    days on market $174,500 Active 195 DOM
12. 2026-05-30
    days on market $174,500 Active 194 DOM
13. 2026-05-11
    price $174,500
14. 2026-04-05
    price $175,000
15. 2025-11-17
    listed $179,900 Active
16. 2025-09-30
    historical
17. 2025-06-02
    price $189,000
18. 2025-03-23
    listed $199,000 Active
19. 2003-06-05
    soldstatus $90,000
20. 2003-06-05
    soldstatus $90,000
21. 1992-09-01
    soldstatus $48,000

ⓘ 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: $1,617 · $135/mo
• Projected year-2 tax: $1,617 · $135/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $36,307
• − Mortgage interest: −$9,775
• − Property taxes: −$1,617
• − Insurance: −$5,991
• − Repairs & maintenance: −$2,905
• − Management: −$2,905
• − HOA: −$7,392
• − Depreciation: −$5,076
• Taxable income: $647
• Est. tax owed @ 24.0%: −$155
• After-tax cash flow: $2,546/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

• Score: 66/100
• State rank: #586
• US rank: #11224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lely, 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

+263.5% since first listed

9 events — show timeline

• 2026-05-11 Price Changed $174,500 NAPLESMLS
• 2026-04-05 Price Changed $175,000 NAPLESMLS
• 2025-11-17 Listed $179,900 NAPLESMLS
• 2025-09-30 Listing Removed — NAPLESMLS
• 2025-06-02 Price Changed $189,000 NAPLESMLS
• 2025-03-23 Listed $199,000 NAPLESMLS
• 2003-06-05 Sold (Public Records) $90,000 Public Records
• 2003-06-05 Sold (Public Records) $90,000 Public Records
• 1992-09-01 Sold (Public Records) $48,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $1,617 · +0.1% YoY. Source: county tax records.