8 Sweetbay Dr · Palm Coast, FL 32137

$243,900

3 bd · 2.0 ba · 1,950 sqft · SingleFamily public records · 92 Days on market

Built 1987 10,019 sqft lot ↓ 10% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unbelievable opportunity to own a beachside fixer-upper located just off A1A in the highly sought-after Hammock area—only steps to the ocean! Perfectly situated close to the public beach access, shopping center, and all the new restaurants, this location offers the ultimate Florida coastal lifestyle. With no HOA or CDD fees and short-term rentals allowed, this is an incredible opportunity to create your dream beach retreat or a high-demand income-producing property. A true diamond in the rough, this home is ready for your vision and transformation. Featuring 3 bedrooms, 2 bathrooms, soaring ceilings, a cozy fireplace, and an open kitchen layout, there’s so much to work with. Enj

Key facts

• Spacious backyard
• Public beach access
• 0.23 acre lot

Tags

• PUBLIC BEACH ACCESS
• SHORT-TERM RENTALS ALLOWED
• ENCLOSED FLORIDA ROOM
• SPACIOUS BACKYARD

Property features AI

Finance

• Other: Homestead exempt; Zoned R-1
• Financial info: Lease restrictions apply
• HOA & community: No HOA association indicated

Exterior

• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single-family residence; One story; Faces northeast
• Construction: Frame construction; Shingle roof; Slab foundation; Built on a 0.23-acre lot
• Exterior features: Sliding doors; Dirt road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $244k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $244k).
• Recommended offer: $222k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 3.8% in Palm Coast — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 1600 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• At $5,001/mo this rent would consume 72% of the median local household income ($84k/yr) (locally 816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $68k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,949 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.05% ✓
• Cap rate: 18.49%
• Cash-on-cash: 43.57%
• DSCR: 2.94
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $553,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Bristol Dr	0.19mi	3/2.5	1,906 (-2%)	4mo	$645,000	$338	82
35 Bedford Dr	0.28mi	3/2.5	1,940 (-0%)	3mo	$450,000	$232	81
16 Avalon Ter	0.19mi	3/2.0	1,842 (-6%)	3mo	$530,000	$288	79
14 Dogwood Ter	0.18mi	3/2.0	1,834 (-6%)	3mo	$520,000	$284	79
5 Nantucket Dr	0.30mi	3/2.5	1,991 (+2%)	4mo	$430,000	$216	77
23 Moody Dr	0.59mi	3/2.0	1,948 (-0%)	6mo	$552,500	$284	68
31 Andover Dr	0.30mi	3/2.5	1,758 (-10%)	4mo	$325,000	$185	65
30 Medford Dr	0.31mi	3/2.5	1,722 (-12%)	6mo	$325,600	$189	59
5 Rollins Dr	0.47mi	4/2.5 (+1)	2,098 (+8%)	2mo	$675,000	$322	57
12 Moody Dr	0.57mi	3/2.0	1,746 (-10%)	1mo	$685,000	$392	55
45 Moody Dr	0.61mi	3/2.0	1,728 (-11%)	5mo	$695,000	$402	48
31 Ocean St	0.68mi	2/2.5 (-1)	1,714 (-12%)	5mo	$479,000	$279	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 2.18×
• Total profit: $80,843
• Equity at exit: $36,366

10-year hold

• IRR: 35.3%
• Equity multiple: 3.90×
• Total profit: $197,972
• Equity at exit: $21,088

Cash invested: $68,292 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32137

• Home prices YoY: -34.5%
• Rents YoY: 0.8%
• Active inventory: 1600
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $5,001 high
• Mortgage (P&I): −$1,279
• Tax from tax record: −$90 /mo · $1,084/yr
• Insurance: −$102
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $2,053

Break-even live

Break-even rent $2,402

Max offer price $243,900

Occupancy floor 54%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $60,975
• Closing costs: $7,317
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Bristol Dr Palm Coast, FL	2.0	2.0	1637	$1,975	$1.21	14d	1	0.13mi
35 Andover Dr Unit 1060869P Palm Coast, FL	3.0	2.0	1496	$3,150	$2.11	14d	1	0.26mi
1 Bedford Dr Palm Coast, FL	3.0	2.0	2032	$4,800	$2.36	23d	1	0.27mi
27 Mala Compra Rd Unit 1261612P Palm Coast, FL	3.0	2.0	1991	$7,806	$3.92	11d	1	0.40mi
37 Atlantic Dr Unit 1261604P Palm Coast, FL	3.0	2.0	1991	$8,011	$4.02	23d	1	0.52mi
37 Atlantic Dr Palm Coast, FL	3.0	2.0	1501	$7,500	$5.00	23d	1	0.52mi
20 Sabal Bnd Unit 1 Palm Coast, FL	3.0	2.5	1466	$2,100	$1.43	21d	1	1.23mi
323 Ocean Crest Dr Palm Coast, FL	3.0	3.0	2341	$4,200	$1.79	23d	1	1.25mi
35 Ocean Crest Way #1124 Palm Coast, FL	2.0	2.0	1264	$3,500	$2.77	23d	1	1.39mi
200 Ocean Crest Dr #1111 Palm Coast, FL	3.0	3.0	1818	$7,000	$3.85	23d	1	1.41mi
58 Comanche Ct Unit 1261614P Palm Coast, FL	3.0	2.0	2195	$5,998	$2.73	11d	1	1.43mi

Listing history 17 events

1. 2026-06-18
   days on market $243,900 Active 92 DOM
2. 2026-06-17
   days on market $243,900 Active 91 DOM
3. 2026-06-16
   days on market $243,900 Active 90 DOM
4. 2026-06-15
   days on market $243,900 Active 89 DOM
5. 2026-06-14
   days on market $243,900 Active 87 DOM
6. 2026-06-13
   days on market $243,900 Active 86 DOM
7. 2026-06-10
   days on market $243,900 Active 84 DOM
8. 2026-06-09
   days on market $243,900 Active 83 DOM
9. 2026-06-08
   days on market $243,900 Active 82 DOM
10. 2026-06-07
    days on market $243,900 Active 81 DOM
11. 2026-06-03
    days on market $243,900 Active 77 DOM
12. 2026-06-02
    days on market $243,900 Active 76 DOM
13. 2026-06-01
    days on market $243,900 Active 75 DOM
14. 2026-05-31
    days on market $243,900 Active 74 DOM
15. 2026-05-18
    price $296,100
16. 2026-04-20
    price $312,550
17. 2026-03-18
    listed $329,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,084 · $90/mo
• Projected year-2 tax: $2,024 · $169/mo
• Expected delta: +$941/yr (+$78/mo · 86.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,006
• − Mortgage interest: −$13,662
• − Property taxes: −$1,084
• − Insurance: −$6,338
• − Repairs & maintenance: −$4,801
• − Management: −$4,801
• − Depreciation: −$7,095
• Taxable income: $22,226
• Est. tax owed @ 24.0%: −$5,334
• After-tax cash flow: $19,301/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Palm Coast

• Score: 69/100
• State rank: #478
• US rank: #8721

Category grades

Amenities F Commute F Cost of living B+ Crime B Employment C+ Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 48,391
• Household income: $83,923
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 816.0

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 4% Russian 2% Lithuanian 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -153.27%
• Current HPI: 290.4607
• Rent YoY: ▲ 0.85%
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-10.0% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $296,100 Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $312,550 Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Listed $329,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2025): $1,084 · +3.7% YoY. Source: county tax records.