103 Magnolia Loop

Port Orange, FL 32128

$299,000F

2 bd · 2.0 ba · 1,403 sqft · Built 1980 · SingleFamily · Pending · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,079/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$176
• HOA: −$146
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-248/mo
• Annual: $-2,973/yr
• Cap rate: 5.30%
• Cash-on-cash: -3.55%
• DSCR: 0.84
• 1% rule: 0.70%
• Cash to close: $83,720

Investor read

• This is a 2-bed/2.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (30.5% below list).
• It's been on market 75 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (30.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#131 in FL, #1,957 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities D+, commute 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: Sweetwater Elementary School (math 80% / reading 79%, grade A, #116 of 2,144 statewide, top 6%, 694 students, 38% FRL); Creekside Middle School (math 66% / reading 62%, grade B+, #105 of 571 statewide, top 19%, 1,222 students, 39% FRL); Spruce Creek High School (math 37% / reading 61%, grade D, #193 of 667 statewide, top 29%, 2,569 students, 37% FRL).
• Zoned-school proficiency averages 64% at this address vs 46% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Volusia average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-2.3%/yr); 275 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• Current owner paid $60k; list at $299k implies a 398% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• 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?
• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?