113 Cedar Dunes Dr · New Smyrna Beach, FL 32169

$349,000

2 bd · 2.5 ba · 1,328 sqft · Townhouse public records · 16 Days on market

Built 1980 1,032 sqft lot $160/mo HOA · 5% of rent

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +4.1/10.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2-Bed Townhome-Style Condo in Cedar Dunes, New Smyrna Beach (Beachside), 2 Blocks to the Beach Looking for a low-maintenance beachside place with water views, a private outdoor space, and an easy ride to dining and shops? Welcome to 113 Cedar Dunes Dr in Cedar Dunes, a townhome-style condo community on the beachside of New Smyrna Beach with an Intracoastal, boating-day kind of vibe. This 2 bedroom, 2.5 bath home offers 1,328 sq ft and a layout that feels easy and comfortable. Mornings start with sunrise coffee and calming water views, and evenings are made for unwinding in the oversized private courtyard—a great spot for grilling, reading, or hosting friends after the beach. Inside

Key facts

• Community amenities
• Pool
• Mature landscaping

Tags

• PRIVATE OUTDOOR SPACE
• OVERSIZED PRIVATE COURTYARD
• MATURE LANDSCAPING
• COMMUNITY AMENITIES
• POOL
• TENNIS PICKLEBALL COURTS

Property features AI

Finance

• Other: Unit is negotiably furnished
• Financial info: Total annual HOA fees $1,920; Lease restrictions apply
• HOA & community: HOA required — $160 monthly (includes grounds maintenance); Association name: Mark Culnan; Community mailbox; Golf carts allowed; Pets allowed; Development: Cedar Dunes

Exterior

• Parking: Concrete road/drive
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Attached townhouse; Two stories; East facing
• Construction: Concrete and stucco construction; Concrete/other roof; Slab foundation; Built as part of Cedar Dunes condo
• Exterior features: Deck; Patio; Porch; Screened porch; Balcony; Sidewalk; Sliding doors; Landscaped lot; Public water access to the Intracoastal Waterway; Intracoastal Waterway views

Interior

• Kitchen: Dishwasher; Ice maker; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen open to family room; Solid surface counters; Solid wood cabinets; Thermostat; Walk-in closet(s); Window treatments; Gas fireplace in living room
• Laundry & utility: Washer; Dryer; Laundry inside in a laundry closet; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $349k.

Deal economics

• At list price, monthly cash flow is $-13 ($-155/yr) — negative.
• To cash-flow at today's rent, offer at most $347k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (8.8% below list).
• Recommended offer: $318k (8.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#474 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• 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: Coronado Beach Elementary School (math 67% / reading 77%, grade A-, #288 of 2,144 statewide, top 15%, 223 students, 36% FRL); New Smyrna Beach Middle School (math 43% / reading 43%, grade D-, #331 of 571 statewide, top 59%, 1,037 students, 53% FRL); New Smyrna Beach High School (math 34% / reading 52%, grade F, #255 of 667 statewide, top 39%, 1,810 students, 41% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 542 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 34% of the median local income ($111k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $48k; list at $349k implies a 635% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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.

Recommended offer $318,177 (8.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.17% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-50,162
• Equity at exit: $52,037

10-year hold

• IRR: -1.9%
• Equity multiple: 0.86×
• Total profit: $-13,815
• Equity at exit: $30,175

Cash invested: $97,720 (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 32169

• Rents YoY: 5.2%
• Active inventory: 542
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,182 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$324 /mo · $3,894/yr
• Insurance: −$145
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$160
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $-13

Break-even live

Break-even rent $3,198

Max offer price $346,713

Occupancy floor 95%

Sensitivity live

Price	-10% $185	-5% $86	+0% $-13	+5% $-112	+10% $-211
Rent	-10% $-264	-5% $-139	+0% $-13	+5% $113	+10% $238
Rate	-1.0pp $163	-0.5pp $76	base $-13	+0.5pp $-103	+1.0pp $-195

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 Cedar Dunes Dr Unit 155 New Smyrna Beach, FL	2.0	2.5	1322	$3,500	$2.65	25d	1	0.07mi
62 Cedar Dunes Dr New Smyrna Beach, FL	2.0	2.5	1328	$2,300	$1.73	25d	1	0.08mi
3800 Saxon Dr Unit 1545928P New Smyrna Beach, FL	2.0	1.0	893	$2,185	$2.45	16d	1	0.17mi
4007 Saxon Dr New Smyrna Beach, FL	2.0	1.5	1300	$3,500	$2.69	25d	1	0.33mi
830 E 25th Ave New Smyrna Beach, FL	3.0	2.0	1342	$3,050	$2.27	16d	1	0.41mi
834 E 25th Ave New Smyrna Beach, FL	2.0	2.0	1007	$2,600	$2.58	16d	1	0.43mi
3837 Sandstone Ct New Smyrna Beach, FL	3.0	2.0	1382	$5,000	$3.62	25d	1	0.49mi
3839 Sandstone Ct New Smyrna Beach, FL	3.0	2.0	1366	$5,000	$3.66	25d	1	0.50mi
3801 S Atlantic Ave Unit 107 New Smyrna Beach, FL	2.0	2.0	912	$6,000	$6.58	25d	1	0.51mi
823 E 19th Ave New Smyrna Beach, FL	3.0	2.0	1829	$4,500	$2.46	16d	1	0.61mi
4150 S Atlantic Ave Unit 124BUnit 124B New Smyrna Beach, FL	2.0	2.5	1188	$3,500	$2.95	25d	1	0.63mi
4150 S Atlantic Ave Unit 120D New Smyrna Beach, FL	2.0	2.5	1298	$1,800	$1.39	25d	1	0.65mi
4175 S Atlantic Ave New Smyrna Beach, FL	1.0	1.0	950	$2,900	$3.05	25d	1	0.75mi
2801 Hill St New Smyrna Beach, FL	2.0–4.0	2.0–4.0	1742	$5,000	$2.87	25d	2	0.76mi
809 E 15th Ave New Smyrna Beach, FL	3.0	2.0	1760	$3,750	$2.13	25d	1	0.82mi
801 E 14th Ave New Smyrna Beach, FL	3.0	2.0	1260	$3,950	$3.13	25d	1	0.87mi
906 11th Ave New Smyrna Beach, FL	2.0	2.0	1000	$3,500	$3.50	25d	1	1.17mi
814 E 10th Ave New Smyrna Beach, FL	2.0	1.0	970	$2,600	$2.68	25d	1	1.18mi
1913 Hill St Unit 1 New Smyrna Beach, FL	2.0	2.0	1200	$4,500	$3.75	25d	1	1.22mi
4439 Katy Dr New Smyrna Beach, FL	3.0	2.0	1348	$4,000	$2.97	25d	1	1.36mi
813 E 6th Ave New Smyrna Beach, FL	3.0	2.0	1558	$5,000	$3.21	25d	1	1.41mi
1571 S Atlantic Ave New Smyrna Beach, FL	1.0–3.0	1.0–2.0	1050	$4,825	$4.60	25d	14	1.49mi

HOA detail

• Monthly dues: $160 · $1,920/yr
• Likely covers: water

Listing history 11 events

1. 2026-06-22
   days on market $349,000 Active 16 DOM
2. 2026-06-18
   days on market $349,000 Active 13 DOM
3. 2026-06-17
   days on market $349,000 Active 12 DOM
4. 2026-06-16
   days on market $349,000 Active 11 DOM
5. 2026-06-15
   days on market $349,000 Active 10 DOM
6. 2026-06-14
   days on market $349,000 Active 8 DOM
7. 2026-06-10
   days on market $349,000 Active 5 DOM
8. 2026-06-09
   days on market $349,000 Active 4 DOM
9. 2026-06-08
   days on market $349,000 Active 3 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    listed $349,000 Active 2 DOM

ⓘ 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: $3,894 · $324/mo
• Projected year-2 tax: $3,894 · $324/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,181
• − Mortgage interest: −$19,549
• − Property taxes: −$3,894
• − Insurance: −$2,542
• − Repairs & maintenance: −$3,054
• − Management: −$3,054
• − HOA: −$1,920
• − Depreciation: −$10,153
• Taxable loss: −$5,986
• Est. tax savings @ 24.0%: +$1,437
• After-tax cash flow: $1,281/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: Volusia
• NCES district ID: 1201920
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $42,946
• Composite: 39.2/100
• National rank: #4019
• State rank: #47 of 73 in FL

Livability — New Smyrna Beach

• Score: 69/100
• State rank: #474
• US rank: #8577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Smyrna Beach, FL
• County: Volusia County · 556,871 people
• City population: 42,039
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 10,192
• Household income: $110,968
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 145.0

Population outlook (Volusia County) Hauer SSP2

• Today (2025): 572,749 people
• By 2030: 598,695 · +4.5%
• By 2040: 644,880 · +12.6%
• By 2050: 681,451 · +19.0%
• By 2075: 759,957 · +32.7%
• By 2100: 778,902 · +36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Volusia

• 2024 margin: Strong R (+21.8) · D 38.7% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.7pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+14.1 2016: R+13.1 2012: R+1.2 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -297.06%
• Current HPI: 345.3555
• Rent YoY: ▲ 5.17%
• 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

+833.2% since first listed

9 events — show timeline

• 2026-06-05 Listed $349,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — Daytona MLS
• 2026-04-12 Price Changed $349,000 Daytona MLS
• 2026-04-12 Price Changed $349,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Listed $355,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Listed $355,000 Daytona MLS
• 1986-12-01 Sold (Public Records) $47,500 Public Records
• 1980-05-01 Sold (Public Records) $37,400 Public Records

Property tax history

+3.7%/yr

Latest (2025): $3,894 · +2.9% YoY. Source: county tax records.