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$4,699,000

For Sale - Active
1521 Pelican Ave, Naples, FL 34102
5 Beds
5 Baths
3,760 Square Feet
0.00 Acres Lot
Built in 2014
For Sale - Active
Units n/a
Checked: 12 hours ago
Updated: Jul 28, 2025 at 03:31AM

Investment Summary


Monthly Cash Flow
-$19,834
Cap Rate
1.1%
Cash-on-Cash Return
-22.0%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.3%

Property Description


0.00 Acres Lot
Built in 2014
For Sale - Active
Units n/a

Exceptional Gulf-Access Estate in Royal Harbor | Priced Below Appraised Value ! A rare opportunity to own one of Royal Harbor’s finest waterfront residences—this newly reimagined West Indies-style estate sits on a wide canal with direct Gulf access and no bridges, offering the ultimate coastal lifestyle. Boasting 5 bedrooms and 5 baths all on one level, this luxurious home is a masterclass in timeless design, craftsmanship, and modern convenience. Thoughtfully designed by Falconer Jones Architecture and Seaside Construction, every detail has been elevated—top-tier Wolf appliances, custom cabinetry, reverse osmosis water system, Control4 home automation, and a theater-quality sound system throughout. A double-sided gas fireplace, wine fridge, automated hurricane shutters, epoxy garage flooring, and a full security/surveillance system with remote access underscore the home’s high-end functionality. The expansive open-concept floor plan transitions seamlessly to the outdoors through walls of sliding glass doors, unveiling a lush, private backyard with a showstopping infinity-edge pool and spa. The private dock with 16,000 lb lift and Gem remote is ideal for serious boaters and provides quick, effortless access to the Gulf. The first-floor primary suite is a tranquil waterfront retreat with spa-inspired bath and dual walk-in closets. A separate guest suite with private entry ensures privacy and comfort for visiting friends or extended family. This home suffered no flood or storm damage—a testament to its construction quality and location. Whether you’re seeking a private residence or a lucrative income-producing investment, this property delivers on all fronts. Now offered with a $1,300,000 price reduction—an unmatched value in Royal Harbor.

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Location


Property Details


Parking

  • Description: Attached, Garage, GarageDoorOpener
  • Details: Attached, Driveway, Garage, Paved, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 5
  • # of Baths (Total): 5.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Foundation: Pillar/Post/Pier
  • Roof Material: Metal
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 8482640103
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Contemporary, Ranch, One Story, See Remarks
  • Year Built: 2014

Tax Information

  • Annual Tax: $25,337

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Collier

Listing Details


Listed by:
Michael Dorobanti
Compass Florida LLC
(239) 273-8374

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225058579
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$19,834
Cap Rate
1.1%
Cash-on-Cash Return
-22.0%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.3%

Purchase Details

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Purchase price:
$4,699,000
Amount financed:
-$3,759,200
Down payment:
$939,800
Closing costs:
$140,970
Rehab costs:
$0
Initial cash invested:
$1,080,770
Square feet:
3,760
Cost per square foot:
$1,250
Monthly rent per square foot:
$2.45

Financing Details

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Loan amount:
$3,759,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$24,071
Property tax:
$2,111
Insurance:
$644
Private mortgage insurance (PMI):
$0
Monthly payment:
$26,826

Operating Income

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% Rent Monthly Yearly
Gross rent:
$9,200 $110,400
Vacancy loss: (6%)
6% -$552 -$6,624
Operating income:
$8,648 $103,776

Operating Expenses


% Rent Monthly Yearly
Property taxes: (23%)
23%-$2,111-$25,337
Insurance: (7%)
7%-$644-$7,728
Property management: (8%)
8%-$736-$8,832
Repairs & maintenance: (5%)
5%-$460-$5,520
Capital expenditures: (5%)
5%-$460-$5,520
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (48%)
48%-$4,411-$52,937

Cash Flow


Monthly Yearly
Net operating income:
$4,237 $50,844
Mortgage payments:
-$24,071 -$288,852
Cash flow:
$19,834 $238,008