Naples FL Real Estate and Homes for Sale – What makes for a good rental property in Naples, Florida?
We get questions about investment properties and rental properties all of the time. Buyers want to know what sort of homes rent well, what they can expect for rental income and how to go about making an intelligent decision. There are some questions up front that you need to answer.
- Are you strictly an investor who is looking for return on investment?
- Are you expecting appreciation as well as rental income?
- How long do you intend to own the property?
- Are you going to use the home for your own vacations and some family time?
- Are you thinking of renting the home out on an annual or a seasonal basis?
To maximize the gross rental income, properties near the beach that are rented on a seasonal basis will generate the most amount of income. The scenario is even better if there are no homeowner association restrictions regarding the number of leases per year or a time restriction for the length of a lease. There are very, very few neighborhoods of single family homes near the beaches that do not have some association restrictions on renting. These single family home neighborhoods that are located west of Route 41 do not have homeowner association restrictions and can be rented out by the month, the week or even just for a few days:
Naples Park, Connors at Vanderbilt Beach (canal homes with Gulf of Mexico boating access), Park Shore, The Moorings, Coquina Sands and the Olde Naples area.
Each neighborhood has its own value and respective seasonal rents. If you were to try to boil things down to a formula, the best rental property would be a house with 3 bedrooms, at least 2 bathrooms, a pool and a garage within a walk or bike ride to one of the beaches and hopefully pet friendly too. It should be noted that in our market area of Naples, Florida that this is very same combination of attributes in a single family home is the type of house that will enjoy the most amount of appreciation in the next few years. Maximizing the rental income AND the appreciation is a great combination.
Here is a little comparison to wet your investment appetite: A $350,000 single family home or townhouse in Northern Virginia (which can only be rented annually) will bring approx. $23,000 in income – on the other hand a $350,000 single family home in Naples Park will bring $33,000 to $35,000 in income (as a seasonal rental) – A $650,000 single family home in the upscale area of Park Shore would bring approx. $49,000.
Every condominium development has restrictions, although one in particular (Regatta, which is an easy walk to Vanderbilt Beach) allows 52 leases per year. This is considered a very liberal policy for condos.
Check out the links below for some excellent investment opportunities on the market today.
Call us directly at (239) 776-5077 for details about the income that each property could be expected to generate on either an annual basis or as a seasonal vacation rental. Make an appointment to see some of these opportunities by calling or send an email to Ellie@StepsToTheBeach.com or TimCranch@StepsToTheBeach.com
NAPLES PARK (Walking distance to Vanderbilt Beach)
CONNORS at VANDERBILT BEACH (Canal homes within walking distance to beach)
PARK SHORE, THE MOORINGS and COQUINA SANDS (Listed for Less than $1,000,000 and within an easy walk or bike ride to the Naples Pier and beach)
REGATTA (Two blocks from Vanderbilt Beach)