106 Cypress Dr · DeBary, FL 32713

$84,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 5 Days on market

Built 1972 4,500 sqft lot $64/mo HOA · 3% of rent

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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 +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with strong upside potential! This 3-bedroom, 2-bath split floor plan home sits on OWNED LAND — no lot rent. Renovations have already been started, making it a great opportunity for investors, flippers, or buyers looking to customize. Located in the gated waterfront community of Leisure World Park with an exceptionally low HOA. Community amenities include a pool, marina, private boat ramp, dock, shuffleboard, and basketball courts. Enjoy direct access to the St. Johns River and Lake Monroe, perfect for boating, fishing, and outdoor living.

Key facts

• Owned land
• 4,500 sq ft lot
• Community pool

Tags

• OWNED LAND
• GATED WATERFRONT COMMUNITY
• DIRECT ACCESS TO RIVER

Property features AI

Finance

• Other: Lot approximately 0.1 acre (50 x 90); Living area about 1,344 square feet
• Financial info: Lease restrictions apply
• HOA & community: Meadowlea association with required approval; Monthly HOA fee of $64.60; Community amenities: clubhouse, park, pool, playground, tennis courts; Pets allowed; Development: Leisure World Park

Exterior

• Utilities: Public water (see remarks); Private sewer; Other utilities
• Home design: Manufactured home (double wide); One story; Faces northeast; Residential property
• Construction: Vinyl siding and other construction materials; Other roof; Other foundation
• Exterior features: Other exterior features; Asphalt road access

Interior

• Bedrooms: 3 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features
• Laundry & utility: Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $84k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Cap rate 21.2% vs local median 3.8% in DeBary — 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 73/100 on livability (#312 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; 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.
• Market conditions: Rents rising (+1.9%/yr); 273 active listings in the ZIP; 4 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; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $31k; list at $84k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.63% ✓
• Cap rate: 21.20%
• Cash-on-cash: 53.23%
• DSCR: 3.37
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 3.15×
• Total profit: $50,506
• Equity at exit: $12,525

10-year hold

• IRR: 55.0%
• Equity multiple: 6.11×
• Total profit: $120,195
• Equity at exit: $7,263

Cash invested: $23,520 (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 32713

• Rents YoY: 1.9%
• Active inventory: 273
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,207 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$161 /mo · $1,932/yr
• Insurance: −$35
• HOA: −$64
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $1,043

Break-even live

Break-even rent $887

Max offer price $84,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,091	-5% $1,067	+0% $1,043	+5% $1,020	+10% $996
Rent	-10% $869	-5% $956	+0% $1,043	+5% $1,131	+10% $1,218
Rate	-1.0pp $1,086	-0.5pp $1,065	base $1,043	+0.5pp $1,022	+1.0pp $999

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
658 Reader Ln Debary, FL	3.0	2.5	1687	$2,295	$1.36	24d	1	0.88mi
1398 Captiva Cv Sanford, FL	3.0	2.5	1714	$2,195	$1.28	5d	1	1.42mi
1349 Captiva Cv Sanford, FL	3.0	2.5	1458	$2,295	$1.57	24d	1	1.48mi
1336 Captiva Cv Sanford, FL	3.0	2.5	1802	$2,495	$1.38	18d	1	1.48mi

HOA detail

• Monthly dues: $64 · $768/yr
• Likely covers: waterpoolsecurity

Listing history 4 events

1. 2026-05-18
   status Pending 568-char remark
2. 2026-05-13
   listed $84,000 Active 568-char remark
3. 2026-03-05
   listed $69,900 Active
4. 1998-08-07
   soldstatus $31,000

ⓘ 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: $1,932 · $161/mo
• Projected year-2 tax: $1,932 · $161/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $26,488
• − Mortgage interest: −$4,705
• − Property taxes: −$1,932
• − Insurance: −$420
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − HOA: −$768
• − Depreciation: −$2,444
• Taxable income: $11,981
• Est. tax owed @ 24.0%: −$2,876
• After-tax cash flow: $9,644/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 — DeBary

• Score: 73/100
• State rank: #312
• US rank: #5314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeBary, FL
• County: Volusia County · 556,871 people
• City population: 22,884
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 22,884
• Household income: $88,500
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 265.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 6% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 1%
• Common ancestry: Lithuanian 2% Romanian 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 87% English-only · Spanish 10% Vietnamese 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: ▼ -247.35%
• Current HPI: 294.803
• Rent YoY: ▲ 1.89%
• 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

+171.0% since first listed

4 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-13 Listed $84,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 1998-08-07 Sold (Public Records) $31,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,932 · +7.6% YoY. Source: county tax records.