235 Greenwood Ave · Ormond Beach, FL 32174

$299,900

3 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 4 Days on market

Built 1965 9,000 sqft lot

---

Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Virtually Staged. BRAND-NEW ROOF!! Discover Charm and Versatility in Ormond Beach. Welcome to a home that perfectly blends modern updates with endless potential. At the heart of the home, a stunningly updated open kitchen features a beautiful center island--the ideal spot for morning coffee, meal prep, or gathering with friends. The kitchen is open to the living/dining area, creating an airy, connected feel. The kitchen features a pass-through window to the spacious sunken family room with French door access to the large paver patio. Off the the family room you will find a versatile enclosed bonus space. Whether you envision a home cinema, a creative studio, or a playroom, this room adapts

Key facts

• Updated open kitchen
• Pass-through window
• Sunken family room

Tags

• BRAND-NEW ROOF
• UPDATED OPEN KITCHEN
• CENTER ISLAND
• PASS-THROUGH WINDOW
• SUNKEN FAMILY ROOM
• LARGE PAVER PATIO

Property features AI

Exterior

• Parking: Garage with automatic opener (1 garage space)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Single-family residence; One level; Updated / Remodeled; Faces south
• Construction: Block and frame construction; Shingle roof; Slab foundation; Built or remodeled year not specified
• Exterior features: Patio; Paved road access via a public maintained city street; Lot dimensions approximately 50 ft x 120 ft; Zoned residential

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Dishwasher
• Bedrooms: 9 total rooms (bedroom count not specified)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Electric multi-unit cooling
• Interior features: Ceiling fans; Kitchen island; Walk-in closets; Unfurnished
• Laundry & utility: Electric dryer hookup in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-439 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (34.3% below list).
• Recommended offer: $197k (34.3% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.9% in Ormond Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#55 in FL, #965 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: 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.
• Market conditions: Rents rising (+1.6%/yr); 985 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/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 $9k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y ago 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 $140k; list at $300k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $196,957 (34.3% 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. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.66% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.32%
• DSCR: 0.76
• GRM: 12.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -28.6%
• Equity multiple: 0.06×
• Total profit: $-79,237
• Equity at exit: $44,716

10-year hold

• IRR: -34.0%
• Equity multiple: -0.38×
• Total profit: $-115,695
• Equity at exit: $25,930

Cash invested: $83,972 (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 32174

• Rents YoY: 1.6%
• Active inventory: 985
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$231 /mo · $2,771/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-439

Break-even live

Break-even rent $2,525

Max offer price $222,341

Occupancy floor —

Sensitivity live

Price	-10% $-269	-5% $-354	+0% $-439	+5% $-524	+10% $-609
Rent	-10% $-595	-5% $-517	+0% $-439	+5% $-361	+10% $-283
Rate	-1.0pp $-288	-0.5pp $-363	base $-439	+0.5pp $-517	+1.0pp $-596

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Shadow Lakes Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	856	$1,645	$1.92	12d	15	1.00mi
81 Tomoka Ave Ormond Beach, FL	2.0	2.5	1500	$1,950	$1.30	24d	1	1.02mi
3 Glen Arbor Park Ormond Beach, FL	2.0	1.5	1200	$1,700	$1.42	24d	1	1.08mi
450 Tomoka Ave Unit 215 Ormond Beach, FL	2.0	1.5	1150	$1,750	$1.52	15d	1	1.15mi

Listing history 6 events

1. 2026-06-18
   days on market $299,900 Active 4 DOM
2. 2026-06-17
   days on market $299,900 Active 3 DOM
3. 2026-06-16
   days on market $299,900 Active 2 DOM
4. 2026-06-15
   listing id $299,900 Active 1 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $299,900 Active 1 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: $2,771 · $231/mo
• Projected year-2 tax: $2,771 · $231/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,635
• − Mortgage interest: −$16,799
• − Property taxes: −$2,771
• − Insurance: −$2,297
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$8,724
• Taxable loss: −$10,738
• Est. tax savings @ 24.0%: +$2,577
• After-tax cash flow: $-2,691/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 — Ormond Beach

• Score: 83/100
• State rank: #55
• US rank: #965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ormond Beach, FL
• County: Volusia County · 556,871 people
• City population: 69,624
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 54,783
• Household income: $71,011
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1158.0

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 (82%)
• Race & ethnicity: White 82% Black 6% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -327.97%
• Current HPI: 271.92
• Rent YoY: ▲ 1.64%
• 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

+87.6% since first listed

15 events — show timeline

• 2026-06-12 Listed $299,900 Daytona MLS
• 2026-05-06 Listing Removed — Daytona MLS
• 2026-04-15 Contingent — Daytona MLS
• 2026-04-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $299,000 Daytona MLS
• 2026-01-20 Price Changed $299,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $325,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $325,000 Daytona MLS
• 2025-12-24 Listed $350,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-23 Listed $350,000 Daytona MLS
• 2019-09-06 Sold (Public Records) $140,000 Public Records
• 2019-09-05 Sold (MLS) $140,000 Daytona MLS
• 2019-08-15 Contingent — Daytona MLS
• 2019-08-15 Listed $159,900 Daytona MLS

Property tax history

+13.6%/yr

Latest (2025): $2,771 · -0.3% YoY. Source: county tax records.