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5405 Freeport Lane
About This Property
Inside, the layout features an open living and dining area, vaulted ceilings, and a split bedroom floor plan. The kitchen opens to the main living space with a breakfast bar and ample cabinetry. The primary suite offers generous space and a private bath, while additional bedrooms provide flexibility for guests, office, or hobby space. The home includes a two-car garage and interior laundry.
All systems, finishes, and fixtures are original, and the property is being sold AS IS. This home requires updating and renovation, making it ideal for buyers, investors, or end users looking to customize and add value in a well-established community.
Island Walk is known for its resort-style amenities, including a staffed gatehouse, clubhouse, pools, fitness center, tennis, bocce, miles of walking paths, and scenic bridges over lakes and waterways. Conveniently located close to shopping, dining, healthcare, and Naples beaches.
This is a solid opportunity for buyers who understand potential and want to renovate in one of North Naples' most popular communities.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 5, 2026 | Sold | ||
| Sold | |||
| Apr 24, 2026 | In contract | - | |
| In contract | |||
| Apr 20, 2026 | Price Decreased |
$500,000
↓ $50K
(9.1%) | |
| Price Decreased | |||
| Mar 10, 2026 | Price Decreased |
$550,000
↓ $25K
(4.4%) | |
| Price Decreased | |||
| Jan 20, 2026 | Listed by John R Wood Properties | $575,000 | |
| Listed by John R Wood Properties | |||
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About Urban Estates
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017