1347 W Wellington Dr

Deltona, FL 32725

$189,800D

2 bd · 2.0 ba · 1,107 sqft · Built 1964 · SingleFamily · Pending · 168 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,862/mo
• Mortgage (P&I): −$995
• Tax + insurance: −$474
• HOA: −$0
• Vac / Maint / Mgmt: −$391
• Net cashflow: $2/mo
• Annual: $19/yr
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• 1% rule: 0.98%
• Cash to close: $53,144

Investor read

• This is a 2-bed/2.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $2 ($19/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (1.9% below list).
• It's been on market 168 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#381 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Volusia (suburban): math 44% / reading 49% proficiency, ranked #47 of 73 in FL (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Discovery Elementary School (math 33% / reading 31%, grade F, #1,797 of 2,144 statewide, top 86%, 649 students, 70% FRL); Deltona Middle School (math 37% / reading 43%, grade F, #368 of 571 statewide, top 65%, 1,146 students, 60% FRL); University High School (math 28% / reading 46%, grade F, #340 of 667 statewide, top 52%, 2,901 students, 49% FRL).
• Market conditions: Rents flat; 421 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.