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$329,000

For Sale - Active
529 Mardel Dr Apt 304, Naples, FL 34104
2 Beds
2 Baths
1,093 Square Feet
0.00 Acres Lot
Built in 1990
For Sale - Active
Units n/a
Checked: 3 hours ago
Updated: Sep 01, 2025 at 06:30PM

Investment Summary


Monthly Cash Flow
-$921
Cap Rate
2.8%
Cash-on-Cash Return
-14.6%
Debt Coverage Ratio
0.45
Internal Rate of Return (5 years)
-10.1%

Property Description


0.00 Acres Lot
Built in 1990
For Sale - Active
Units n/a

Welcome to 529 Mardel Drive #304, a beautifully maintained, turn-key furnished 2-bedroom, 2-bath condo in the sought-after community of The Colonies at Berkshire Lakes in Naples, FL. This first-floor end-unit offers a peaceful setting, smart upgrades, and full storm protection, making it an ideal home for full-time living, seasonal getaways, or investment. This 1,093 sq ft condo features a split-bedroom layout with vinyl plank flooring throughout and tasteful furnishings that are included with the sale—just bring your suitcase. One of its most valuable features is the storm-ready setup: all windows and the lanai are equipped with both electric and manual hurricane shutters, providing year-round peace of mind. Inside, you'll find elegant plantation shutters throughout the unit, offering classic style and excellent light control. The kitchen has been updated with white cabinetry, light stone countertops, a center island, pantry, and stainless steel appliances including a refrigerator, cooktop, dishwasher, and microwave. It opens seamlessly into the dining and living area, which flows onto a screened-in lanai overlooking a peaceful lake and the community pool—perfect for enjoying morning coffee or Florida’s famous sunsets. The primary suite features lake views, dual closets, and an ensuite bath with dual vanities and a walk-in shower. The second bedroom is located on the opposite end of the condo, offering privacy for guests and convenient access to the second full bath. Additional highlights include a full-size washer and dryer in-unit, tray ceilings, built-in cabinetry, ceiling fans, and assigned paved parking just steps from your front door. The condo also includes cable and internet prewiring. Located within the low-density Colonies community—part of the Berkshire Lakes development—residents enjoy access to a heated community pool, tennis courts, clubhouse, and scenic bike and walking paths around the lakes. The HOA is pet-friendly with approval and allows 3 leases per year (30-day minimum), offering great rental flexibility. With an unbeatable Naples location, you’ll be just minutes to grocery stores, restaurants, and I-75, and a short drive to Downtown Naples, 5th Avenue, and the Gulf beaches. HOA fees are $1,543 quarterly plus a $640 annual master fee, covering water, cable, trash, irrigation, lawn care, and professional management. If you're looking for a secure, stylish, and move-in ready home with essential features like hurricane shutters, plantation shutters, and furnishings included, this unit delivers exceptional value.

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Location


Property Details


Parking

  • Details: Driveway, Paved
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • HOA Fee: $640/annually
  • Additional HOA Fee: $1,543/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 27205000561
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Two Story, Low Rise
  • Year Built: 1990

Tax Information

  • Annual Tax: $2,229

Utilities

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

Location

  • County: Collier

Listing Details


Listed by:
Nel-Marc Guerrier
Waterfront Realty Group Inc
(239) 200-5683

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225052693
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$921
Cap Rate
2.8%
Cash-on-Cash Return
-14.6%
Debt Coverage Ratio
0.45
Internal Rate of Return (5 years)
-10.1%

Purchase Details

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Purchase price:
$329,000
Amount financed:
-$263,200
Down payment:
$65,800
Closing costs:
$9,870
Rehab costs:
$0
Initial cash invested:
$75,670
Square feet:
1,093
Cost per square foot:
$301
Monthly rent per square foot:
$2.01

Financing Details

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Loan amount:
$263,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,685
Property tax:
$186
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,025

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$186-$2,230
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (26%)
26%-$568-$6,816
Total operating expenses: (59%)
59%-$1,304-$15,646

Cash Flow


Monthly Yearly
Net operating income:
$764 $9,168
Mortgage payments:
-$1,685 -$20,220
Cash flow:
$921 $11,052