Opinions on 34110 zipcode (Bonita Springs / Naples)?

[Richie Thomas]

Hi, I'm an out-of-state investor considering the purchase of a 1-bedroom condo as a BRRRR investment in the Wiggins Pass / Tamiami Trail area. The area's median rent statistics look great, especially compared to the average housing prices. And the crime score on NeighborhoodScout looks much better than other zip codes I've seen.  The population seems to be growing over the long-term (20,000 people in 2010 vs 15,000 people in 2000).

My question is, is there anything I should know about this zip code as an out-of-state investor?  Any "gotchas" you know about which might surprise a non-local?

A separate, more specific question- is it common for investors to buy condos which they then rent to retirees?  I'm imagining that's the typical demographic of a renter in this area, is that correct or just a stereotype?

Thanks y'all!

[Alvin Taveras]

Hello Richie,

I apologize for the vague answer ahead of time but it depends. Generally speaking, there are no major concerns with the zip. No crime or anything out of the ordinary. In a lot of ways, it's quite ideal. But I would spend more time looking at the condo association and its bylaws. These, hoa's are all very different and they are going to be the biggest determinate of this investment. Also, I would recommend only looking at the rental rates and ARV's just within the community you are looking at.