306 Palm Coast Pkwy NE #203 · Palm Coast, FL 32137

$159,900

2 bd · 2.0 ba · 1,006 sqft · Condo public records · 80 Days on market

Built 1975 $517/mo HOA · 29% 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 +11.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• DSCR +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, low-maintenance living at Shangri-La Condominium Association. This inviting second-floor condo offers a peaceful setting overlooking a lush green space, creating a relaxing view to enjoy from your private screened-in lanai, complete with a convenient storage closet. Inside, the unit features the comfort and convenience of an in-unit washer and dryer, making everyday living simple and efficient. The layout provides a bright and comfortable atmosphere, perfect for full-time living, a seasonal getaway, or an investment opportunity. Residents of Shangri-La enjoy a variety of included association benefits, such as water, trash service, pest control, and exterior grounds landscaping, allowing you to focus on enjoying your home rather than maintaining it. Ideally located, this condo is close to shopping and restaurants, offers quick access to I-95 for commuters, and is less than 10 minutes from the beach, making it easy to enjoy the best of Florida living.

Key facts

• Screened-in lanai
• Storage closet
• Quick access to i-95

Tags

• SCREENED-IN LANAI
• IN-UNIT WASHER AND DRYER
• STORAGE CLOSET
• QUICK ACCESS TO I-95

Property features AI

Finance

• Other: Furnished: Negotiable; Management: Full time
• Financial info: Total annual fees: $6,204; Condo fees required
• HOA & community: Monthly condo fee: $517; Association: Southern States Management Group; Association fees paid monthly; Association covers structure and grounds maintenance, pest control, trash, and water; Community features include clubhouse, community mailbox, and pool; Pets not allowed

Exterior

• Parking: Parking lot access (on-site)
• Security: No specific security features listed
• Utilities: Public sewer; Water connected; Water source: None listed; Electricity connected; Cable available and connected; Phone available; Sewer connected
• Home design: Residential condominium; Located on 2nd floor; West-facing; Completed condition; One level (interior unit in a multi-story building)
• Construction: Frame construction; Shingle roof; Slab foundation; Building name: SHANGRI-LA CONDOMINIUM; Built as part of Palm Harbor development
• Exterior features: Rear screened porch; Sliding doors; Storage; Sidewalk; Greenbelt; Paved roads; Street dead-end

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Solid surface counters; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room / dining room combo; Solid surface counters; Thermostat
• Laundry & utility: Washer hookup inside; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-64 ($-769/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (7.1% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $149k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.8% in Palm Coast — 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 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute 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.
• Zoned schools: Lewis E. Wadsworth Elementary (math 54% / reading 57%, grade C, #855 of 2,144 statewide, top 41%, 743 students, 68% FRL); Matanzas High School (math 36% / reading 53%, grade F, #237 of 667 statewide, top 36%, 1,978 students, 48% FRL).
• Market conditions: Rents flat; 1600 active listings in the ZIP; 34 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; 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 80 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask is 9925% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $83k; list at $160k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $148,582 (7.1% 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. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.25×
• Total profit: $-33,477
• Equity at exit: $23,842

10-year hold

• IRR: -25.1%
• Equity multiple: -0.07×
• Total profit: $-48,074
• Equity at exit: $13,825

Cash invested: $44,772 (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 32137

• Home prices YoY: -34.5%
• Rents YoY: 0.8%
• Active inventory: 1600
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$839
• Tax from tax record: −$32 /mo · $386/yr
• Insurance: −$67
• HOA: −$517
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-64

Break-even live

Break-even rent $1,841

Max offer price $148,582

Occupancy floor 99%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Florida Park Dr #6 Palm Coast, FL	2.0	1.5	1159	$1,450	$1.25	2d	1	0.24mi
51 Blairsville Dr Palm Coast, FL	2.0	2.0	1240	$1,750	$1.41	23d	1	0.33mi
7 Blairton Ct Palm Coast, FL	2.0	2.0	1263	$1,500	$1.19	11d	1	0.37mi
36 Oxford Ln Palm Coast, FL	2.0	2.0	1098	$1,595	$1.45	23d	1	0.46mi
22 Oxford Ln #22 Palm Coast, FL	2.0	2.0	1098	$1,600	$1.46	23d	1	0.52mi
13 Surrey Ct Palm Coast, FL	3.0	2.0	1338	$1,600	$1.20	23d	1	0.54mi
13 Surrey Ct #13 Palm Coast, FL	3.0	2.0	1338	$1,650	$1.23	23d	1	0.54mi
23 Salisbury Ct Palm Coast, FL	3.0	2.0	1338	$1,820	$1.36	14d	1	0.62mi
46 Hembury Ln Palm Coast, FL	2.0	2.0	1098	$1,495	$1.36	2d	1	0.66mi
46 Hembury Ln #46 Palm Coast, FL	2.0	2.0	1098	$1,595	$1.45	2d	1	0.66mi
4 Southbury Ct #4 Palm Coast, FL	2.0	2.0	1098	$1,600	$1.46	2d	1	0.66mi
11 Ferris Ln Palm Coast, FL	3.0	2.0	1500	$2,800	$1.87	2d	1	0.69mi
24 Southbury Ct Palm Coast, FL	2.0	2.0	1098	$1,650	$1.50	19d	1	0.69mi
27 Cooper Ln Palm Coast, FL	3.0	2.0	1446	$6,500	$4.50	23d	1	0.69mi
13 Courtney Pl Palm Coast, FL	2.0	2.0	1292	$1,700	$1.32	2d	1	0.70mi
2 Pinehurst Pl #2 Palm Coast, FL	2.0	2.0	1177	$1,575	$1.34	23d	1	0.72mi
2 Pinehurst Pl Palm Coast, FL	2.0	2.0	1177	$1,475	$1.25	21d	1	0.72mi
2 Pinehurst Pl Palm Coast, FL	2.0	2.0	1177	$1,475	$1.25	23d	1	0.72mi
48 Kings Colony Ct #48 Palm Coast, FL	2.0	2.0	1021	$1,595	$1.56	14d	1	0.85mi
8 Blare Dr Palm Coast, FL	2.0	2.0	1428	$1,650	$1.16	11d	1	0.88mi
3 Fairways Cir Unit 3 Palm Coast, FL	2.0	2.0	1150	$1,395	$1.21	23d	1	0.92mi
40 Club House Dr #207 Palm Coast, FL	2.0	2.0	986	$1,550	$1.57	11d	1	0.95mi
48 Club House Dr #204 Palm Coast, FL	2.0	2.0	986	$1,495	$1.52	23d	1	0.96mi
31 Folson Ln Palm Coast, FL	3.0	1.0	1481	$1,639	$1.11	23d	1	1.04mi
56 Club House Dr #107 Palm Coast, FL	2.0	2.0	986	$1,700	$1.72	14d	1	1.04mi
79 Pepperdine Dr Palm Coast, FL	3.0	2.0	1222	$1,900	$1.55	21d	1	1.05mi
58 Club House Dr Palm Coast, FL	2.0	1.5	1216	$1,795	$1.48	23d	1	1.06mi
1300 Canopy Walk Ln #1314 Palm Coast, FL	3.0	2.0	1377	$1,900	$1.38	23d	1	1.17mi
1000 Canopy Walk Ln #1013 Palm Coast, FL	2.0	2.0	1238	$2,200	$1.78	23d	1	1.21mi
100 Canopy Walk Ln #124 Palm Coast, FL	3.0	2.0	1377	$2,400	$1.74	23d	1	1.25mi
87 Club House Dr Palm Coast, FL	3.0	2.0	1265	$2,500	$1.98	23d	1	1.27mi
100 Palm Harbor Pkwy #29 Palm Coast, FL	3.0	2.0	1455	$2,000	$1.37	23d	1	1.36mi
29 Foxhall Ln Palm Coast, FL	2.0	2.0	1029	$1,800	$1.75	14d	1	1.40mi
134 Beechwood Ln Palm Coast, FL	3.0	2.0	1368	$1,870	$1.37	21d	1	1.47mi

HOA detail condo

• Monthly dues: $517 · $6,204/yr
• Likely covers: watertrashlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-31
   statusdays on market $159,900 Pending 80 DOM
2. 2026-05-22
   historical $1,595
3. 2026-05-20
   listed $1,595
4. 2026-05-19
   historical $1,595
5. 2026-04-01
   price $159,900 980-char remark

   Show marketing remark (980 chars)

   Welcome to easy, low-maintenance living at Shangri-La Condominium Association. This inviting second-floor condo offers a peaceful setting overlooking a lush green space, creating a relaxing view to enjoy from your private screened-in lanai, complete with a convenient storage closet. Inside, the unit features the comfort and convenience of an in-unit washer and dryer, making everyday living simple and efficient. The layout provides a bright and comfortable atmosphere, perfect for full-time living, a seasonal getaway, or an investment opportunity. Residents of Shangri-La enjoy a variety of included association benefits, such as water, trash service, pest control, and exterior grounds landscaping, allowing you to focus on enjoying your home rather than maintaining it. Ideally located, this condo is close to shopping and restaurants, offers quick access to I-95 for commuters, and is less than 10 minutes from the beach, making it easy to enjoy the best of Florida living.

6. 2026-04-01
   price $159,900

   Show marketing remark (980 chars)

   Welcome to easy, low-maintenance living at Shangri-La Condominium Association. This inviting second-floor condo offers a peaceful setting overlooking a lush green space, creating a relaxing view to enjoy from your private screened-in lanai, complete with a convenient storage closet. Inside, the unit features the comfort and convenience of an in-unit washer and dryer, making everyday living simple and efficient. The layout provides a bright and comfortable atmosphere, perfect for full-time living, a seasonal getaway, or an investment opportunity. Residents of Shangri-La enjoy a variety of included association benefits, such as water, trash service, pest control, and exterior grounds landscaping, allowing you to focus on enjoying your home rather than maintaining it. Ideally located, this condo is close to shopping and restaurants, offers quick access to I-95 for commuters, and is less than 10 minutes from the beach, making it easy to enjoy the best of Florida living.

7. 2026-03-11
   listed $170,000 Active
8. 2026-03-10
   listed $170,000 Active 980-char remark

   Show marketing remark (980 chars)

   Welcome to easy, low-maintenance living at Shangri-La Condominium Association. This inviting second-floor condo offers a peaceful setting overlooking a lush green space, creating a relaxing view to enjoy from your private screened-in lanai, complete with a convenient storage closet. Inside, the unit features the comfort and convenience of an in-unit washer and dryer, making everyday living simple and efficient. The layout provides a bright and comfortable atmosphere, perfect for full-time living, a seasonal getaway, or an investment opportunity. Residents of Shangri-La enjoy a variety of included association benefits, such as water, trash service, pest control, and exterior grounds landscaping, allowing you to focus on enjoying your home rather than maintaining it. Ideally located, this condo is close to shopping and restaurants, offers quick access to I-95 for commuters, and is less than 10 minutes from the beach, making it easy to enjoy the best of Florida living.

9. 2026-01-29
   listed $1,595
10. 2016-02-08
    soldstatus $83,000
11. 2016-02-05
    soldstatus $83,000 806-char remark

    Show marketing remark (806 chars)

    This lovely 2 bedroom condo is waiting for a new owner to live the Florida lifestyle. Well maintained and in a great location just 5 minute walk from the newly renovated Island Walk Shopping center. A quick drive to the Hammock bridge then you are on the scenic highway A1A where there is plenty of access to the sandy beaches for days of relaxing and sunshine. The condo has had the A/C replaced in 2000 and the water heater in 2003. The enclosed balcony allows for out door living to be brought inside and provides a view over the lake. Good size master bedroom with plenty of storage cupboards makes this a must see, all fans and window treatments to remain. Association facilities provide a community pool, Clubhouse, gazebo and bike storage shed. Make an appointment today to see this wonderful jewel.

12. 2015-10-10
    listed $85,000 806-char remark

    Show marketing remark (806 chars)

    This lovely 2 bedroom condo is waiting for a new owner to live the Florida lifestyle. Well maintained and in a great location just 5 minute walk from the newly renovated Island Walk Shopping center. A quick drive to the Hammock bridge then you are on the scenic highway A1A where there is plenty of access to the sandy beaches for days of relaxing and sunshine. The condo has had the A/C replaced in 2000 and the water heater in 2003. The enclosed balcony allows for out door living to be brought inside and provides a view over the lake. Good size master bedroom with plenty of storage cupboards makes this a must see, all fans and window treatments to remain. Association facilities provide a community pool, Clubhouse, gazebo and bike storage shed. Make an appointment today to see this wonderful jewel.

13. 1995-10-30
    soldstatus $55,000
14. 1980-06-01
    soldstatus $48,500
15. 1979-05-01
    soldstatus $34,700

ⓘ 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: $386 · $32/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$941/yr (+$78/mo · 244.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 55% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 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: $21,117
• − Mortgage interest: −$8,957
• − Property taxes: −$386
• − Insurance: −$800
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − HOA: −$6,204
• − Depreciation: −$4,652
• Taxable loss: −$3,259
• Est. tax savings @ 24.0%: +$782
• After-tax cash flow: $13/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 — Palm Coast

• Score: 69/100
• State rank: #478
• US rank: #8721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Coast, FL
• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 48,391
• Household income: $83,923
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 816.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 4% Russian 2% Lithuanian 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -153.27%
• Current HPI: 290.4607
• Rent YoY: ▲ 0.85%
• 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

-95.4% since first listed

14 events — show timeline

• 2026-05-22 Rental Removed $1,595 APPFOLIO
• 2026-05-20 Listed for Rent $1,595 APPFOLIO
• 2026-05-19 Rental Removed $1,595 STELLARMLS
• 2026-04-01 Price Changed $159,900 realMLS
• 2026-04-01 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-10 Listed $170,000 realMLS
• 2026-01-29 Listed for Rent $1,595 STELLARMLS
• 2016-02-08 Sold (Public Records) $83,000 Public Records
• 2016-02-05 Sold (MLS) $83,000 Stellar MLS as Distributed by MLS Grid
• 2015-10-10 Listed $85,000 Stellar MLS as Distributed by MLS Grid
• 1995-10-30 Sold (Public Records) $55,000 Public Records
• 1980-06-01 Sold (Public Records) $48,500 Public Records
• 1979-05-01 Sold (Public Records) $34,700 Public Records

Property tax history

+14.7%/yr

Latest (2025): $386 · +1.4% YoY. Source: county tax records.