229 Starboard Dr · Beverly Beach, FL 32136

$179,000

2 bd · 2.0 ba · 840 sqft · Condo public records · 240 Days on market

Built 1986 $220/mo HOA · 11% of rent ↓ 5% since listing

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Why this score? — see what drove the C- 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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.9/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you are looking for a winter get-away or full time residence at the beach this might be the one for you! This cute, cozy home is so bright and airy and it has had some recent updates; Mitsubishi Mini Split A/C units (4) installed in 2019, new roof in 2022, and new kitchen with all new stainless steel appliance, granite counters, soft close cabinets and luxury plank flooring in kitchen and living room in 2023. New stack washer/dryer, beautiful walk in shower and toilets also in 2023. Open floor plan with split bedrooms for extra privacy for your guests. It also has a large Florida Room that is heated and cooled giving you extra square footage for entertaining. Located in Surfside Estates,

Key facts

• New kitchen
• Soft close cabinets
• Granite counters

Tags

• NEW ROOF
• NEW KITCHEN
• STAINLESS STEEL APPLIANCE
• GRANITE COUNTERS
• SOFT CLOSE CABINETS
• LUXURY PLANK FLOORING

Property features AI

Finance

• Other: Lease restrictions apply; Partially furnished
• Financial info: Total monthly fees $220; Total annual fees $2,640; Association fee includes cable TV, pool, internet, ground maintenance, management, private road
• HOA & community: Has HOA (monthly fee $220); Association approval required; Association amenities: clubhouse, fitness center, pool, basketball court, shuffleboard court, cable TV, wheelchair access; On-site property manager; Development: Surfside Estates; Golf carts allowed; Irrigation with reclaimed water; Senior community; Pets allowed (cats and dogs; breed restrictions and number limits)

Exterior

• Parking: Covered parking; Golf cart parking; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected; Cable available; BB/HS internet available; Phone available
• Home design: Residential manufactured home; Single wide; One story; South-facing; Crawlspace foundation
• Construction: Vinyl siding; Shingle roof; Built as a manufactured home
• Exterior features: Enclosed patio/porch; Side porch; Private mailbox; Storage; Paved road access; Water access to Intracoastal Waterway; Fishing pier; Limited water access with fishing docks and kayak launch/storage

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator; Ice maker
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Ductless heating; Mini-split cooling
• Interior features: Ceiling fans; Open floor plan; Solid wood cabinets; Stone counters; Florida room; Inside utility; Storage rooms
• Laundry & utility: Washer; Dryer; Laundry inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 1.7% in Beverly Beach — 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 63/100 on livability (#714 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, employment D, schools F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 336 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.7%
• Equity multiple: 0.64×
• Total profit: $-17,860
• Equity at exit: $26,689

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-895
• Equity at exit: $15,477

Cash invested: $50,120 (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 32136

• Home prices YoY: -30.7%
• Active inventory: 336
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,951 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$69 /mo · $823/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$220
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $173

Break-even live

Break-even rent $1,732

Max offer price $179,000

Occupancy floor 86%

Sensitivity live

Price	-10% $275	-5% $224	+0% $173	+5% $123	+10% $72
Rent	-10% $19	-5% $96	+0% $173	+5% $250	+10% $327
Rate	-1.0pp $263	-0.5pp $219	base $173	+0.5pp $127	+1.0pp $80

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 Ocean Marina Dr Flagler Beach, FL	1.0	1.0	804	$2,500	$3.11	24d	1	0.90mi
901 Ocean Marina Dr Unit 901 Flagler Beach, FL	1.0	1.0	804	$1,800	$2.24	24d	1	0.91mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $179,000 Active 240 DOM
2. 2026-06-18
   days on market $179,000 Active 237 DOM
3. 2026-06-17
   days on market $179,000 Active 236 DOM
4. 2026-06-16
   days on market $179,000 Active 235 DOM
5. 2026-06-15
   days on market $179,000 Active 234 DOM
6. 2026-06-14
   days on market $179,000 Active 232 DOM
7. 2026-06-13
   days on market $179,000 Active 231 DOM
8. 2026-06-10
   days on market $179,000 Active 229 DOM
9. 2026-06-09
   days on market $179,000 Active 228 DOM
10. 2026-06-08
    days on market $179,000 Active 227 DOM
11. 2026-06-07
    days on market $179,000 Active 226 DOM
12. 2026-06-03
    days on market $179,000 Active 222 DOM
13. 2026-06-02
    days on market $179,000 Active 221 DOM
14. 2026-06-01
    days on market $179,000 Active 220 DOM
15. 2026-05-31
    days on market $179,000 Active 219 DOM
16. 2026-01-27
    price $179,000
17. 2025-10-24
    listed $189,000 Active

ⓘ 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: $823 · $69/mo
• Projected year-2 tax: $1,486 · $124/mo
• Expected delta: +$663/yr (+$55/mo · 80.6%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,416
• − Mortgage interest: −$10,027
• − Property taxes: −$823
• − Insurance: −$1,692
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$2,640
• − Depreciation: −$5,207
• Taxable loss: −$720
• Est. tax savings @ 24.0%: +$173
• After-tax cash flow: $2,252/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: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Beverly Beach

• Score: 63/100
• State rank: #714
• US rank: #15241

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beverly Beach, FL
• County: Flagler County · 113,412 people
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 8,363
• Household income: $78,818
• Rent vs Own: 12.3% rent · 87.7% own
• Severe rent burden: 124.0

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Common ancestry: Slovak 4% Romanian 4% Lithuanian 3%
• Foreign-born: 5% · Canada, China, Dominican Republic
• Languages at home: 93% English-only · Spanish 4% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.19%
• Current HPI: 361.8323
• Rent YoY: —
• 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

-5.3% since first listed

2 events — show timeline

• 2026-01-27 Price Changed $179,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-24 Listed $189,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2025): $823 · +5.6% YoY. Source: county tax records.