Naples Block Cottage, 1 Mile to Gulf

Built in 1967, this 1,056 sq. ft. CBS cottage sits on an 8,712 sq. ft. lot in the Hilltop neighborhood, one mile from the Gulf. 2 bed / 1.5 bath with open carport. Interior is livable but dated with granite counters and tile floors. Exterior has deferred maintenance including a deteriorating shed, cracked patio, and overgrown landscaping. Roof replaced 2014. AC is old, needs full replacement. Flood Zone X. No HOA.  Best use is going to be to figure out a way to add a bed and turn 1/2 bath into a full.

House Assets:

• No HOA.
• Flood Zone X.
• 1 mile to Gulf. 1.5 miles to Venetian Bay Village.
• 34103 zip. Adjacent to Park Shore, Moorings, Coquina Sands. Strong schools.
• 2014 roof. ~12 years old, 8 to 13 years remaining. Should not need replacement.
• CBS construction. Preferred build for SW FL insurance and storm resistance.

Repairs Needed (Estimate):

• HVAC: Old/original, full replacement.
• Framing in 3rd bed and converting 1/2 bath if possible
• Kitchen: Dated oak cabinets. Gut and replace.
• Bathrooms: Full bath remodel + half bath refresh.
• Flooring: LVP or tile throughout.
• Paint (int/ext): Full interior + CBS exterior.
• Impact Windows: 6 to 8 openings, needed for insurance.
• Landscaping: Full clear, tree trim, re-sod.
• Shed Demo: Deteriorated, tear down and haul.
• Patio/Driveway: Cracked, resurface or replace.
• Permits + Contingency: 10%

🟣 Comparable Sales

1. 1246 Hilltop Dr | 3/2 | 1,080 SF | $440,000 ($407/SF). Same street, 1967. As-is. Distressed floor.
2. 1324 Highlands Dr | 3/2 | 945 SF | $495,000 ($524/SF). One block south, updated.
3. 1125 Hilltop Dr | 2/2 | 1,003 SF | $534,000 ($532/SF). Same street. Mid-range.
4. 1075 Hilltop Dr | 2/2 | 1,113 SF | $600,000 ($539/SF). Same street, updated, corner lot. Best direct comp.
5. 1205 Hilltop Dr | 3/2 | 1,044 SF | $600,000 ($575/SF). Same street, nearly identical SF. Relisted post-reno at $695K, sitting 128+ days. Ceiling ref only.
6. 1315 Frank Whiteman Blvd | 2/1 | 1,025 SF | $635,000 ($620/SF). Nearby, same size/config. Highest $/SF closed comp.
7. 1136 Illinois Dr | 3/2 | 1,410 SF | $605,000 ($429/SF). Larger, confirms $600K range for renovated 3/2.
8. 1395 Morningside Dr | 2/2 | 1,375 SF | $682,000 ($496/SF). Adjacent street, larger. Upper end.
9. 1336 Highlands Dr | 3/2 | 945 SF | $450,000 Pending ($476/SF). Supports $475 to $525/SF updated.

🟡 ARV & Rental Analysis

Same-street closed comps range $407/SF (distressed) to $575/SF (updated). Nearby renovated SFRs under 1,200 SF have closed at $524 to $620/SF.

ARV (full reno, 2/2): $575,000 to $625,000 +/-

ARV (full reno, 3/2 conversion): $625,000 to $660,000 +/-

Rental Comps:

• 1354 Hilltop Dr | 2/1 | 1,032 SF | $2,750 to $2,800/mo
• 1366 Hilltop Dr | 2/1 | 1,152 SF | $1,750/mo (remodeled)
• 1200 Hilltop Dr | 2/1 | ~1,000 SF | $1,800/mo (pool/spa)

Projected Rent (annual): $2,400 to $2,800/mo +/-