Renovated End-Unit
For Sale
$435,000
Pending
1403 Monarch Cir, Naples, FL 34116
Residential, 2 Story, Duplex, End-Unit, NAPLES, FL
Property Size1,853 SF
Lot Size0.16 Acres
Days on Market9
Property Features for 1403 Monarch Cir
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Den, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 3, Laundry Room, Bedroom 3
Parking
2
Parking features
Driveway
Window features
Window Coverings, Skylight(s)
Patio and Porch features
Patio
Interior features
Vaulted Ceiling(s), Walk-In Closet(s), Window Coverings
Appliances
Electric Cooktop, Dishwasher, Disposal, Microwave, Range, Refrigerator/Freezer
Subdivision
VILLAS AT BERKSHIRE VILLAGE
Elementary school
CALUSA PARK ELEMENTARY
Middle school
EAST NAPLES MIDDLE
High school
LELY HIGH SCHOOL
Standard status
Pending
APN
23972521005
Size
1,853 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BERKSHIRE VILLAGE AT BERKSHIRE LAKES (HO) BLK B E1/2 OF LOT 1 OR 1495 PG 1809
Tax Annual Amount
1455
HOA Fee
$2,940 Annually
Legal Description
BERKSHIRE VILLAGE AT BERKSHIRE LAKES (HO) BLK B E1/2 OF LOT 1 OR 1495 PG 1809
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Amenities
pool
tennis court
fishing pier
Building Details
Year built
1990
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Naples
(239) 449-1000
Listed By:
Scott Schneider
(941) 286-0051
Added: Aug 20
Changed: Aug 25
Last Checked: Aug 28 at 7:06AM
MLS# 226029794
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated, two-story end-unit duplex includes 1,853 square feet with three bedrooms and three bathrooms. Interior improvements include new kitchen appliances, refreshed cabinetry and countertops, remodeled bathrooms, vinyl flooring, and new carpet. A 16-foot vaulted ceiling enhances the open floor plan, while the glass-enclosed sunroom adds nearly 270 square feet for flexible living or workspace. The home also includes a den, laundry room, walk-in closet, window coverings, central heating and cooling, and a driveway.
Outdoor features include a private rear patio and front porch. Community amenities include a pool, tennis court, and fishing pier. The property is located in Naples, Florida, less than 8 miles from the Naples Botanical Garden, USOP National Pickleball Center, Naples Zoo, Downtown 5th Ave, and the Bayshore District. Built in 1990, the residence sits on a 0.16-acre lot.
Outdoor features include a private rear patio and front porch. Community amenities include a pool, tennis court, and fishing pier. The property is located in Naples, Florida, less than 8 miles from the Naples Botanical Garden, USOP National Pickleball Center, Naples Zoo, Downtown 5th Ave, and the Bayshore District. Built in 1990, the residence sits on a 0.16-acre lot.
Key Highlights
- 1,853‑square‑foot duplex with three bedrooms and three bathrooms
- Renovated kitchen and bathrooms with updated cabinetry, countertops, appliances, and finishes
- Glass‑enclosed sunroom adds nearly 270 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,373
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$547,460
$547.5K
Cap Rate 7%
$391,043
$391.0K
Cap Rate 9%
$304,144
$304.1K
Market Conditions
NOI Build-Up for 1,853 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.1K $22.20/SF
− Vacancy
−$2.0K −$1.10/SF
EGI
$39.1K $21.10/SF
− OpEx
−$11.7K −$6.33/SF
NOI
$27.4K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$547,460
Cap Rate 7%
$391,043
Cap Rate 9%
$304,144
Alternative Uses
Best Use
Multifamily LT 5
$391.0K
$342.2K – $456.2K
NOI $27,373 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$359.4K
$314.5K – $419.3K
NOI $25,159 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$743.7K
$650.7K – $867.7K
NOI $52,059 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 34116, FL
31,538
Population
11,081
Households
2.8
Avg Household Size
37
Median Age
17%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
3,391
Density / Sq Mi
$69,204
Median Household Income
$35,573
Median Earnings
$1,663
Median Rent
$392,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Open living areas include a vaulted ceiling, enclosed sunroom, private patio, and access to pool and tennis amenities.
Where is this duplex located?
The property is located at 1403 Monarch Cir Naples, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,853‑square‑foot duplex with three bedrooms and three bathrooms; Renovated kitchen and bathrooms with updated cabinetry, countertops, appliances, and finishes; Glass‑enclosed sunroom adds nearly 270 square feet
