1240 Sarah Jean Cir Unit M205 · Naples Park, FL 34110

$313,000

2 bd · 2.0 ba · 1,370 sqft · Condo · 30 Days on market

Built 1999 Good condition $656/mo HOA · 13% 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 +29.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Located within the gated community of Westgate at Imperial Golf Estates, this beautifully maintained second-floor residence offers 2 bedrooms, 2 bathrooms, and nearly 1,400 square feet of comfortable living space with desirable southern exposure and peaceful landscaped and lake views. Offered turnkey furnished, this move-in ready condo is also an excellent opportunity for seasonal or annual rental income. Inside, the open-concept floor plan is filled with natural light and features vaulted ceilings in the great room, creating a bright and spacious feel throughout the main living areas. The kitchen flows seamlessly into the dining and living spaces and includes newer LG appliances, ample cab

Key facts

• Gated community
• Turnkey furnished
• Newer lg appliances

Tags

• GATED COMMUNITY
• LANDSCAPED AND LAKE VIEWS
• TURNKEY FURNISHED
• OPEN-CONCEPT FLOOR PLAN
• VAULTED CEILINGS
• NEWER LG APPLIANCES

Property features AI

Finance

• HOA & community: Mandatory HOA; Quarterly HOA fee; HOA covers cable, internet/Wi-Fi access, irrigation water, lawn/land maintenance, manager, exterior pest control, recreation facilities, street lights and street maintenance; Professional management; Community amenities include community pool, exercise room, fishing pier, hobby room, pickleball, tennis court, BBQ/picnic areas and internet access; Community type: gated, golf course community (golf equity and non-equity options), tennis; One-time fees and recurring: one-time other fee applies; total annual recurring fees reported

Exterior

• Parking: 1 assigned parking space; Paved parking
• Security: Gated community
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential garden-style unit in a low-rise building (1–3 stories); Rear exposure faces south; Located in the Imperial Golf Estates development
• Construction: Concrete block construction; Stucco exterior; Shingle roof; Built in 1999
• Exterior features: Pond and lake view; Landscaped area view; Automatic sprinkler system; Screened lanai/porch

Interior

• Kitchen: Pantry; Dishwasher; Disposal; Microwave; Range; Self-cleaning oven; Refrigerator/freezer; Breakfast bar; Breakfast room / dining (living)
• Bedrooms: 2 bedrooms with a split bedroom floor plan
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; Primary bath with dual sinks and a shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Cable prewire; Foyer; High-speed internet available; Pantry; Smoke detectors; Vaulted ceiling; Walk-in closet; Window coverings; Turnkey (furnished); Great room; Guest bath; Guest room; Screened lanai/porch
• 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 $313k. Condition is rated good.

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 $313k).
• Recommended offer: $308k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#696 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, employment B+; 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 soft (-1.1%/yr); 595 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $5,019/mo this rent would consume 62% 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 30 days — a 2% lower offer ($308k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $308,305 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.60% ✓
• Cap rate: 10.69%
• Cash-on-cash: 15.69%
• DSCR: 1.70
• GRM: 5.2

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: 1.2%
• Equity multiple: 1.04×
• Total profit: $3,829
• Equity at exit: $46,669

10-year hold

• IRR: 6.8%
• Equity multiple: 1.42×
• Total profit: $37,116
• Equity at exit: $27,063

Cash invested: $87,640 (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: 5.2×

Monthly cashflow live

• Estimated rent: $5,019 high
• Mortgage (P&I): −$1,641
• Tax est. 1.5%: −$391 /mo · $4,695/yr
• Insurance: −$130
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$656
• Vacancy / Maint / Mgmt: −$1,054
• Net cashflow: $1,079

Break-even live

Break-even rent $3,653

Max offer price $313,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,296	-5% $1,187	+0% $1,079	+5% $971	+10% $863
Rent	-10% $683	-5% $881	+0% $1,079	+5% $1,277	+10% $1,476
Rate	-1.0pp $1,237	-0.5pp $1,159	base $1,079	+0.5pp $998	+1.0pp $916

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: $78,250
• Closing costs: $9,390
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 Sarah Jean Cir Unit B205 Naples, FL	3.0	2.0	1370	$2,300	$1.68	15d	1	0.06mi
1150 Yesica Ann Cir Unit A205 Naples, FL	2.0	2.0	1300	$6,000	$4.62	15d	1	0.08mi
1190 Yesica Ann Cir Unit B101 Naples, FL	2.0	2.0	1245	$2,500	$2.01	15d	1	0.13mi
1290 Yesica Ann Cir Unit G203 Naples, FL	2.0	2.0	1245	$6,000	$4.82	15d	1	0.18mi
1290 Yesica Ann Cir Unit G-105 Naples, FL	2.0	2.0	1168	$5,500	$4.71	15d	1	0.18mi
1245 Imperial Dr Naples, FL	3.0	3.0	1848	$13,000	$7.03	24d	1	0.26mi
1351 Park Lake Dr Unit 14R Naples, FL	2.0	2.0	1400	$2,200	$1.57	15d	1	0.43mi
1337 Center Ln Naples, FL	3.0	2.0	1500	$4,300	$2.87	24d	1	0.44mi
953 Bunker Hill Dr Naples, FL	2.0	2.0	1100	$3,200	$2.91	15d	1	0.48mi
1296 Grand Canal Dr Naples, FL	3.0	2.0	1614	$8,000	$4.96	24d	1	0.53mi
752 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1402	$2,375	$1.69	22d	1	0.58mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	15d	1	0.59mi
757 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,000	$4.37	24d	1	0.59mi
760 Wiggins Lake Dr #205 Naples, FL	2.0	2.0	1179	$5,500	$4.66	24d	1	0.61mi
1284 Rainbow Ct Naples, FL	2.0	2.0	1572	$4,200	$2.67	22d	1	0.61mi
975 Tarpon Cove Dr #204 Naples, FL	3.0	2.0	1340	$5,500	$4.10	15d	1	0.63mi
1530 Imperial Golf Course Blvd #321 Naples, FL	2.0	2.0	1400	$2,100	$1.50	24d	1	0.63mi
1282 Belaire Ct Naples, FL	3.0	3.5	1495	$9,500	$6.35	24d	1	0.67mi
1520 Imperial Golf Course Blvd #211 Naples, FL	2.0	2.0	1357	$5,000	$3.68	24d	1	0.68mi
437 Wiggins Lake Ct #201 Naples, FL	2.0	2.0	1283	$4,500	$3.51	24d	1	0.69mi
774 Wiggins Lake Dr #106 Naples, FL	3.0	2.0	1374	$6,500	$4.73	24d	1	0.72mi
784 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1515	$3,500	$2.31	24d	1	0.76mi
651 Wiggins Lake Dr #102 Naples, FL	2.0	2.0	1487	$6,500	$4.37	24d	1	0.76mi
1025 Tarpon Cove Dr #203 Naples, FL	2.0	2.0	1225	$5,500	$4.49	15d	1	0.76mi
13093 Castle Harbour Dr Unit L10 Naples, FL	2.0	2.0	1531	$2,595	$1.69	24d	1	0.81mi
13093 Castle Harbour Dr Unit L10 Naples, FL	2.0	2.0	1531	$2,595	$1.69	22d	1	0.81mi
13131 Castle Harbour Dr Unit M3 Naples, FL	2.0	2.0	1531	$5,000	$3.27	24d	1	0.83mi
817 Carrick Bend Cir #101 Naples, FL	3.0	2.0	1660	$5,995	$3.61	15d	1	0.85mi
1790 Imperial Golf Course Blvd Unit A205 Naples, FL	2.0	2.0	1183	$2,300	$1.94	15d	1	0.86mi
1130 Turtle Creek Blvd Naples, FL	1.0–2.0	1.0–2.0	800	$2,145	$2.68	15d	22	0.91mi
13140 Hamilton Harbour Dr Unit F4 Naples, FL	2.0	2.0	1340	$5,500	$4.10	24d	1	0.95mi
480 Bermuda Cove Way Unit 1-104 Naples, FL	2.0	2.0	1372	$4,250	$3.10	24d	1	0.97mi
425 Cove Tower Dr #902 Naples, FL	2.0	2.0	1854	$9,400	$5.07	24d	1	0.97mi
430 Cove Tower Dr #302 Naples, FL	3.0	2.0	1623	$6,500	$4.00	24d	1	0.98mi
430 Cove Tower Dr #1202 Naples, FL	3.0	2.0	1519	$7,800	$5.13	24d	1	0.98mi
420 Cove Tower Dr #802 Naples, FL	3.0	2.0	1621	$4,750	$2.93	24d	1	1.04mi
360 Horse Creek Dr Naples, FL	2.0	2.0	1589	$5,250	$3.30	15d	4	1.10mi
340 Horse Creek Dr #304 Naples, FL	2.0	2.0	1326	$2,950	$2.22	24d	1	1.14mi
320 Horse Creek Dr #105 Naples, FL	2.0	2.0	1326	$5,600	$4.22	24d	1	1.16mi
300 Horse Creek Dr #408 Naples, FL	2.0	2.0	1434	$5,500	$3.84	24d	1	1.20mi

HOA detail condo

• Monthly dues: $656 · $7,872/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   days on market $313,000 Active 30 DOM
2. 2026-06-18
   days on market $313,000 Active 27 DOM
3. 2026-06-17
   days on market $313,000 Active 26 DOM
4. 2026-06-16
   days on market $313,000 Active 25 DOM
5. 2026-06-15
   days on market $313,000 Active 24 DOM
6. 2026-06-14
   days on market $313,000 Active 22 DOM
7. 2026-06-10
   days on market $313,000 Active 19 DOM
8. 2026-06-09
   days on market $313,000 Active 18 DOM
9. 2026-06-08
   days on market $313,000 Active 17 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $313,000 Active 16 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 95% 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: $60,224
• − Mortgage interest: −$17,533
• − Property taxes: −$4,695
• − Insurance: −$2,362
• − Repairs & maintenance: −$4,818
• − Management: −$4,818
• − HOA: −$7,872
• − Depreciation: −$9,105
• Taxable income: $9,021
• Est. tax owed @ 24.0%: −$2,165
• After-tax cash flow: $10,786/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready condo in a gated community offers a good condition with minimal repairs needed. It's an excellent opportunity for both resale and rental income.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can boost both resale and rental value.
• Both New flooring in bathrooms — New flooring can improve both resale and rental value.
• Both New kitchen appliances — New appliances can improve both resale and rental value.
• Both New window treatments — New window treatments can improve both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can boost both resale and rental value. ↑
• Both New flooring in bathrooms — New flooring can improve both resale and rental value. ↑
• Both New kitchen appliances — New appliances can improve both resale and rental value. ↑
• Both New window treatments — New window treatments can improve both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 Park

• Score: 64/100
• State rank: #696
• US rank: #14564

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment B+ 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
• 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

1 event — show timeline

• 2026-05-22 Listed $313,000 BEARMLS