15221 Medici Way is a 4,887 sq ft Single Family in Naples. It was built in 2004. 15221 Medici Way sits on 0.38 acres of land. In 2016 similar properties sold for between $1,376,396 and $6,938,968. We estimate the income value of 15221 Medici Way at $100,767. The assumptions we used to calculate this value are include in the spreadsheet linked below. Naples is in Collier County, Florida.

15221 Medici Way Property Summary

15221 Medici Way
FL 34110

Property Size:4,887 sq ft
Year Built:2004
Property Class:A5
Lat, Long: 26.307, -81.779

Not Offered for Sale

This property is not currently for sale by Visulate but we may be able to find something similar. Contact us for details.

Estimated Value: 15221 Medici Way

Market Data

In 2016 class A single family properties in Naples sold for $196.36 to 989.93 per sq ft with a median price per sq ft of $245.80. Class B properties sold for $120.67 to 196.35 per sq ft with a median of $156.67 and class C properties sold for $10.33 to 120.66 per sq ft with a median of $102.49.

Market Valuation

15221 Medici Way appears to be an A Class property. Suggested value: $1,722,948

Value6,938,968 1,722,948 1,376,396

Income Valuation - Residential/Gross Lease

Visulate estimates the income value of this property is $100,767. Details of how we produced this estimate value appear below:

The income value of a property identifies its value as a rental property, Value = Rent - Expenses / Cap Rate. The following table shows four different rent estimates for 15221 Medici Way:

  • The Household Income estimate assumes the tenant has a total household income of $404,445 and spends 32% of this on rent. The household income estimate is derived from census data and tax records.
  • The Household Income - Renters estimate performs a similar calculation based on the household income of renters rather than all households.
  • The Market Rents estimate evaluates this property in comparison to rental properties in the area.
  • The Price/Ft estimate uses the size of the property to estimate its rent.

Click on a rent value to download a spreadsheet that estimates the NOI (net operating income), cash on cash return, income value and IRR (internal rate of return) for this property.

Valuation ModelMonthly Rent
Household Income - All Households $10,785
Household Income - Renters $3,044
Market Rents $3,137
Price/Ft $5,999

Expense Estimates:

  • Census data records show 7% of the rental properties in this area are vacant. We've added a 5% bad dept allowance to this.
  • Maintenance costs are estimated based on the size of the property.
  • The property tax estimate uses the average millage rate for the county. It does not include adjustments for city or unincorporated areas. Actual taxes may vary.
  • Insurance estimates are based on the size and location of the property. They are not adjusted for age, flood zone or other risk factors
  • We don't have a way to estimate HOA fees. These should be added manually

The following table shows a income valuation estimate for 15221 Medici Way. Download a spreadsheet or click on the Estimate Cashflow link to change its estimates and assumptions. Alternatively, click on the Save button to upload a copy of the spreadsheet to Google Drive.

Monthly Rent3,653
Annual Rent per Sq Ft9.00
Gross Annual Rent43,840
Vacancies and Bad Debt12%
Vacancies and Bad Debt Amount5,261
HOA, Utilities and CAM0
Property Taxes22,383
Management Fees4,384
Cap Rate6
Estimated Value100,767
Edit Values and Estimate Cashflow Estimate Cashflow
Save to Google Drive (Google login required)

Page 1 of 2. Click on the Estimate Cashflow link to navigate to Page 2.

Search County Property Tax and Court Records

Select a county from the list then click on the links to connect to the Property Appraiser or Clerk of Courts website

Local Household Income

The median household income in this part of Florida is $78,156. The bottom 10% of the population earn less than $26,365 per year. The top 10% earn more than $300,037 per year. The top 1% earn more than $692,093 per year. Most renters earn between $32,112 (20th percentile) and $61,224 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $156,312 and $195,390.

The tax assessed value of this property places it in percentile 95 of all properties in this area. This suggests it would appeal to someone earning around $404,445 per year who should qualify for a mortgage between $808,890 and $1,011,113.

Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates

Local Rents

The median monthly rent in this part of Florida is $1,039. Most renters earn between $2,676 and $5,102 per month. They typically spend 32% of their monthly income on rent. Most rents fall in the $791 (20th percentile) to $1,538 (80th percentile) range. The residential vacancy rate is 7%.

This property falls in percentile 95 of all properties in this area. This corresponds to a rent of $3,014 per month and a monthly household income of $9,491 ($113,892 per year)


  1. 15221 Medici Way, Naples, FL on Zillow
  2. Recent Sales near 15221 Medici Way, Naples, FL on Realtor.com
  3. 15221 Medici Way, Naples, FL on Google Maps
  4. 15221 Medici Way Walkscore
  5. Naples, FL Property Values on Trulia
  6. Search for EPA and DEP Cleanup Sites

Owner Details

Companies at this Address

  1. Principal Address for Wessel Family Foundation, Inc.
  2. Mailing Address for Wessel Family Foundation, Inc.

Companies near this Address

  1. Lynndavid, LLC (15211 Medici Way)
  2. Wessel Family Foundation, Inc. (15221 Medici Way)
  3. Undercliff LLC (15232 Medici Way)
  4. Heatwole Management, LLC (15228 Medici Way)

Sales History

DateSold BySold ToDeed TypePrice
12/01/2012 Not Recorded Buyer: 9169831 Unknown 100.00
Disclaimers and Disclosures

Public Records Data

The information on this page was compiled from public records. It is deemed reliable but not guaranteed to be an accurate snapshot of the property details at the time the snapshot was taken. All information should be independently verified.

The Visulate site was produced from data and information compiled from recorded documents and/or outside public and private sources. Visulate is not the custodian of public records and does not assume responsibility for errors or omissions in the data it displays or for its misuse by any individual.

In the event of either error or omission, Visulate and any 3rd party data provider shall be held harmless from any damages arising from the use of records displayed on the site.