871 Tanbark Dr #101 · Pelican Bay, FL 34108

$670,000

3 bd · 2.0 ba · 1,340 sqft · Condo public records · 137 Days on market

Built 1991 $912/mo HOA · 15% of rent

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Why this score? — see what drove the D 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 +11.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• 1% rule +4.2/10.0
• DSCR +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

FANTASTIC PRICE REDUCTION OPPORTUNITY: Fully Furnished and the ONLY active 3 bedroom unit in Laurel Oaks, First floor with new plumbing and floors. Beautifully updated Kitchen with stone counter tops. This impeccably cared for residence is in the highly desired Pelican Bay community offering residents exclusive access to private beach clubs with full amenities. Ideally located near Waterside Shops and Artis-Naples, Pelican Bay combines natural beauty, resort style amenities, and sophisticated living.

Key facts

• New plumbing
• Private beach clubs
• Updated kitchen

Tags

• NEW PLUMBING
• UPDATED KITCHEN
• PRIVATE BEACH CLUBS
• RESORT STYLE AMENITIES
• SOPHISTICATED LIVING

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with many amenities; Quarterly association fee; Association covers management, cable TV, insurance, internet, irrigation water, legal/accounting, ground maintenance, pest control, recreation facilities, road maintenance, street lights and security; Community features include beach rights and access, clubhouse, fitness center, golf course, pool, spa/hot tub, tennis courts, pickleball, bocce court, playground, park, trails, sidewalks, restaurant, barbecue/picnic area, business center and management; Condo hotel community near hotel/motel and shopping; 160 units in the community

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Underground utilities; Municipal irrigation source
• Home design: Two-story building; Entry level: 1; Resale property; Faces southwest; Exposures to the northeast
• Construction: Block, concrete and stucco construction; Tile roof
• Exterior features: Security/high impact doors; Automatic sprinklers/irrigation; Community pool

Interior

• Kitchen: Electric cooktop; Range; Microwave; Dishwasher; Disposal; Freezer; Refrigerator
• Bedrooms: Primary bedroom on main level; Bedroom on main level
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms; Dual sinks in bath
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Furnished; Breakfast bar; Built-in features; Dual sinks; Kitchen island; Pantry; Shower only with separate shower; High-speed internet; Split bedroom floorplan; Impact glass windows; Single hung windows
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $670k.

Deal economics

• At list price, monthly cash flow is $-207 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $633k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $615k (8.2% below list).
• Recommended offer: $590k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#599 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: health & safety D, amenities F, commute 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: Sea Gate Elementary School (math 86% / reading 81%, grade A+, #60 of 2,144 statewide, top 3%, 703 students, 26% FRL); Pine Ridge Middle School (math 74% / reading 70%, grade A, #52 of 571 statewide, top 10%, 832 students, 31% FRL); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL) — zoned schools average 27% FRL vs 55% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 74% at this address vs 58% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.7%/yr); 684 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 $6,150/mo this rent would consume 62% of the median local household income ($119k/yr) (locally 237% 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 $5k of loan paydown is wiped out by about $20k 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 137 days — a 12% lower offer ($590k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $55k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; list at $670k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $589,600 (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 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.53×
• Total profit: $-88,912
• Equity at exit: $99,899

10-year hold

• IRR: 3.3%
• Equity multiple: 1.29×
• Total profit: $54,970
• Equity at exit: $57,929

Cash invested: $187,600 (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 34108

• Rents YoY: 8.7%
• Active inventory: 684
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $6,150 medium
• Mortgage (P&I): −$3,514
• Tax from tax record: −$361 /mo · $4,336/yr
• Insurance: −$279
• HOA: −$912
• Vacancy / Maint / Mgmt: −$1,292
• Net cashflow: $-207

Break-even live

Break-even rent $6,413

Max offer price $633,369

Occupancy floor 98%

Sensitivity live

Price	-10% $172	-5% $-18	+0% $-207	+5% $-397	+10% $-587
Rent	-10% $-693	-5% $-450	+0% $-207	+5% $36	+10% $279
Rate	-1.0pp $130	-0.5pp $-37	base $-207	+0.5pp $-381	+1.0pp $-558

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: $167,500
• Closing costs: $20,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
871 Tanbark Dr #102 Naples, FL	2.0	2.0	1203	$7,500	$6.23	25d	1	0.04mi
859 Tanbark Dr #205 Naples, FL	2.0	2.0	1203	$8,500	$7.07	16d	1	0.04mi
859 Tanbark Dr Naples, FL	2.0	2.0	1252	$5,875	$4.69	25d	3	0.04mi
859 Tanbark Dr Naples, FL	2.0	2.0	1252	$6,000	$4.79	23d	2	0.04mi
832 Tanbark Dr #104 Naples, FL	2.0	2.0	1203	$8,500	$7.07	25d	1	0.07mi
886 Tanbark Dr #103 Naples, FL	2.0	2.0	1203	$9,500	$7.90	25d	1	0.07mi
853 Tanbark Dr Naples, FL	2.0	2.0	1331	$8,650	$6.50	25d	2	0.08mi
829 Tanbark Dr #104 Naples, FL	2.0	2.0	1370	$8,500	$6.20	25d	1	0.10mi
818 Tanbark Dr #102 Naples, FL	2.0	2.0	1203	$7,500	$6.23	23d	1	0.10mi
818 Tanbark Dr #204 Naples, FL	3.0	2.0	1481	$5,000	$3.38	25d	1	0.10mi
818 Tanbark Dr #103 Naples, FL	2.0	2.0	1203	$8,000	$6.65	25d	1	0.10mi
847 Tanbark Dr #101 Naples, FL	3.0	2.0	1340	$9,500	$7.09	25d	1	0.11mi
824 Tanbark Dr #204 Naples, FL	3.0	2.0	1481	$12,000	$8.10	16d	1	0.11mi
823 Tanbark Dr #101 Naples, FL	3.0	2.0	1481	$9,500	$6.41	25d	1	0.12mi
784 Willowbrook Dr #608 Naples, FL	2.0	2.0	1582	$9,000	$5.69	23d	1	0.17mi
784 Willowbrook Dr #607 Naples, FL	2.0	2.0	1862	$10,000	$5.37	23d	1	0.17mi
780 Willowbrook Dr #701 Naples, FL	2.0	2.0	1701	$10,500	$6.17	25d	1	0.19mi
776 Willowbrook Dr #804 Naples, FL	2.0	2.0	1701	$12,000	$7.05	25d	1	0.22mi
790 Willowbrook Dr #305 Naples, FL	2.0	2.0	1582	$12,000	$7.59	25d	1	0.22mi
797 Willowbrook Dr #203 Naples, FL	2.0	2.0	1701	$10,000	$5.88	25d	1	0.24mi
765 Willowbrook Dr #1503 Naples, FL	2.0	2.0	1701	$9,000	$5.29	23d	1	0.32mi
6631 Trident Way Unit D3 Naples, FL	2.0	2.0	1607	$12,000	$7.47	25d	1	0.46mi
6520 Valen Way #503 Naples, FL	2.0	2.0	1436	$7,000	$4.87	16d	1	0.56mi
6510 Valen Way #205 Naples, FL	2.0	2.0	1747	$10,500	$6.01	16d	1	0.58mi
6500 Valen Way Unit A-305 Naples, FL	3.0	2.0	1747	$15,000	$8.59	16d	1	0.60mi
6515 Valen Way Unit H101 Naples, FL	3.0	2.0	1450	$10,000	$6.90	16d	1	0.60mi
6525 Valen Way Unit D-302 Naples, FL	3.0	2.0	1233	$11,000	$8.92	16d	1	0.60mi
7024 Pelican Bay Blvd Unit F-504 Naples, FL	2.0	2.0	1560	$4,250	$2.72	16d	1	0.60mi
7046 Barrington Cir #202 Naples, FL	2.0	2.0	1663	$8,500	$5.11	25d	1	0.61mi
7032 Pelican Bay Blvd Unit E304 Naples, FL	3.0	2.0	1826	$12,000	$6.57	16d	1	0.62mi
7050 Barrington Cir #202 Naples, FL	2.0	2.0	1663	$9,900	$5.95	25d	1	0.62mi
7040 Pelican Bay Blvd Unit D404 Naples, FL	2.0	2.0	1607	$10,500	$6.53	16d	1	0.63mi
6555 Valen Way Unit G201 Naples, FL	3.0	2.0	1450	$5,500	$3.79	16d	1	0.63mi
6535 Valen Way Unit E-202 Naples, FL	2.0	2.0	1350	$9,000	$6.67	16d	1	0.64mi
7108 Barrington Cir #101 Naples, FL	2.0	2.0	1527	$8,500	$5.57	16d	1	0.64mi
6545 Valen Way Unit F205 Naples, FL	2.0	2.0	1377	$7,500	$5.45	16d	1	0.66mi
7104 Barrington Cir #102 Naples, FL	3.0	2.0	1527	$2,320	$1.52	16d	1	0.66mi
7104 Barrington Cir Unit 3-102 Naples, FL	3.0	2.0	1527	$8,000	$5.24	25d	1	0.66mi
7048 Pelican Bay Blvd Unit C302 Naples, FL	2.0	2.0	1826	$11,000	$6.02	16d	1	0.67mi
7048 Pelican Bay Blvd #105 Naples, FL	2.0	2.0	1676	$8,000	$4.77	23d	1	0.67mi

HOA detail condo

• Monthly dues: $912 · $10,944/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   statusdays on market $670,000 Pending 137 DOM
2. 2026-06-18
   days on market $670,000 Active 136 DOM
3. 2026-06-17
   days on market $670,000 Active 135 DOM
4. 2026-06-16
   days on market $670,000 Active 134 DOM
5. 2026-06-15
   days on market $670,000 Active 133 DOM
6. 2026-06-14
   days on market $670,000 Active 131 DOM
7. 2026-06-10
   days on market $670,000 Active 128 DOM
8. 2026-06-09
   days on market $670,000 Active 127 DOM
9. 2026-06-08
   days on market $670,000 Active 126 DOM
10. 2026-06-07
    days on market $670,000 Active 125 DOM
11. 2026-06-03
    days on market $670,000 Active 121 DOM
12. 2026-06-02
    days on market $670,000 Active 120 DOM
13. 2026-06-01
    days on market $670,000 Active 119 DOM
14. 2026-05-31
    days on market $670,000 Active 118 DOM
15. 2026-05-30
    days on market $670,000 Active 117 DOM
16. 2026-05-10
    price $670,000
17. 2026-03-17
    price $689,999
18. 2026-02-02
    listed $725,000 Active
19. 2025-10-22
    historical
20. 2024-11-08
    listed $827,000 Active
21. 2002-06-03
    soldstatus $230,000
22. 2000-05-31
    soldstatus $159,000

ⓘ 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: $4,336 · $361/mo
• Projected year-2 tax: $5,561 · $463/mo
• Expected delta: +$1,225/yr (+$102/mo · 28.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 22 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: $73,803
• − Mortgage interest: −$37,530
• − Property taxes: −$4,336
• − Insurance: −$3,350
• − Repairs & maintenance: −$5,904
• − Management: −$5,904
• − HOA: −$10,944
• − Depreciation: −$19,491
• Taxable loss: −$13,657
• Est. tax savings @ 24.0%: +$3,278
• After-tax cash flow: $789/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 — Pelican Bay

• Score: 66/100
• State rank: #599
• US rank: #11487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelican Bay, FL
• County: Collier County · 396,295 people
• City population: 16,549
• Metro: Naples-Marco Island, FL
• Population (ZIP): 16,237
• Household income: $119,212
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 237.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 16% · Canada, Dominican Republic, South Korea
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 2% 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: ▼ -587.97%
• Current HPI: 275.1872
• Rent YoY: ▲ 8.74%
• 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

+321.4% since first listed

7 events — show timeline

• 2026-05-10 Price Changed $670,000 FORTMLS
• 2026-03-17 Price Changed $689,999 FORTMLS
• 2026-02-02 Listed $725,000 FORTMLS
• 2025-10-22 Listing Removed — NAPLESMLS
• 2024-11-08 Listed $827,000 NAPLESMLS
• 2002-06-03 Sold (Public Records) $230,000 Public Records
• 2000-05-31 Sold (Public Records) $159,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,336 · +16.7% YoY. Source: county tax records.