55 Vining Ct #206 · Ormond Beach, FL 32176

$150,000

2 bd · 1.5 ba · 930 sqft · Condo · 12 Days on market

Built 1973 $380/mo HOA · 22% of rent

---

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 +10.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION, PRICE, LOCATION! Ideally located in the heart of Ormond Beachside. 2-story (2nd & 3rd floor)unit is close to everything. New carpet, fresh paint, kitchen counter, sink, faucet & linoleum recently replaced. AC 2011. Plenty of closet space, tile in both bathrooms. Fountain Square Condominiums is a quaint community that has recently been upgraded to include; painting of exterior, newly paved, painted & remarked driveway (to code), new railings on front side of both buildings and new fire alarm system installed.

Key facts

• Private porch
• $380 HOA
• Built 1973

Tags

• WALKING DISTANCE TO THE OCEAN
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO DINING
• PRIVATE PORCH

Property features AI

Finance

• Other: Public maintained roads with asphalt and concrete surfaces; City street frontage; Lot approximately 1.28 acres
• HOA & community: Homeowners association with a $380 monthly fee; HOA covers grounds maintenance, sewer, trash, and water

Exterior

• Parking: Guest parking available; Off-street parking; On-street parking; Parking lot; Shared driveway
• Utilities: Public water; Public sewer; Electricity connected (150 amp service); Electricity available
• Home design: Condominium (residential); Updated/remodeled condition; Two levels / 2 stories; Entry level: 2; Faces south
• Construction: Block foundation
• Exterior features: Covered rear porch; Front porch

Interior

• Kitchen: Refrigerator; Electric range and oven; Dishwasher
• Bedrooms: 3 rooms total (bedroom count not specified)
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning; Electric cooling; Ceiling fans
• Interior features: Ceiling fans; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-70 ($-845/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (6.8% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $140k (6.8% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.8% in Ormond 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 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.
• Zoned schools: Beachside Elementary School (math 57% / reading 52%, grade C, #892 of 2,144 statewide, top 44%, 556 students, 66% FRL); Ormond Beach Middle School (math 57% / reading 55%, grade B-, #175 of 571 statewide, top 31%, 990 students, 48% FRL); Seabreeze High School (math 31% / reading 56%, grade F, #248 of 667 statewide, top 38%, 1,654 students, 41% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 411 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1k of loan paydown is wiped out by about $4k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $78k; list at $150k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: 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 $139,809 (6.8% 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.14% ✓
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.22% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.41×
• Total profit: $-24,642
• Equity at exit: $22,365

10-year hold

• IRR: -3.0%
• Equity multiple: 0.77×
• Total profit: $-9,473
• Equity at exit: $12,969

Cash invested: $42,000 (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 32176

• Rents YoY: 5.2%
• Active inventory: 411
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$380
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-70

Break-even live

Break-even rent $1,793

Max offer price $139,809

Occupancy floor 99%

Sensitivity live

Price	-10% $33	-5% $-19	+0% $-70	+5% $-122	+10% $-174
Rent	-10% $-205	-5% $-138	+0% $-70	+5% $-3	+10% $64
Rate	-1.0pp $5	-0.5pp $-32	base $-70	+0.5pp $-109	+1.0pp $-149

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Vining Ct Apt 204 Ormond Beach, FL	2.0	1.5	930	$1,450	$1.56	25d	1	0.03mi
363 S Halifax Dr Ormond Beach, FL	1.0	1.0	600	$1,350	$2.25	16d	1	0.67mi
10 Byron Ellinor Dr Unit A Ormond Beach, FL	2.0	1.0	700	$1,425	$2.04	16d	1	0.73mi
71 Rockefeller Dr Unit A Ormond Beach, FL	1.0	1.0	648	$1,285	$1.98	16d	1	0.81mi
148 Ormond Shores Dr Ormond Beach, FL	2.0	1.0	800	$1,650	$2.06	25d	1	0.99mi
16 Oriole Cir Unit A Ormond Beach, FL	2.0	1.0	675	$1,500	$2.22	25d	1	1.18mi

HOA detail condo

• Monthly dues: $380 · $4,560/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-16
   statusdays on market $150,000 Pending 12 DOM
2. 2026-06-15
   days on market $150,000 Active 11 DOM
3. 2026-06-14
   days on market $150,000 Active 9 DOM
4. 2026-06-10
   days on market $150,000 Active 6 DOM
5. 2026-06-09
   days on market $150,000 Active 5 DOM
6. 2026-06-08
   days on market $150,000 Active 4 DOM
7. 2026-06-07
   days on market $150,000 Active 3 DOM
8. 2026-06-05
   remarks 462-char remark
9. 2026-06-05
   listed $150,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,448
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − HOA: −$4,560
• − Depreciation: −$4,364
• Taxable loss: −$3,149
• Est. tax savings @ 24.0%: +$756
• After-tax cash flow: $-89/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): 14,841
• Household income: $78,410
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 298.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Black 2% Asian 2%
• Common ancestry: Slovak 5% Romanian 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -476.64%
• Current HPI: 319.6419
• Rent YoY: ▲ 5.22%
• 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

+131.1% since first listed

8 events — show timeline

• 2026-06-04 Listed $150,000 Daytona MLS
• 2024-02-27 Rental Removed $1,300 DMLS
• 2024-02-08 Listed for Rent $1,300 DMLS
• 2016-07-30 Listing Removed — Daytona MLS
• 2016-07-29 Sold (MLS) $78,000 Daytona MLS
• 2016-07-05 Listed $85,500 Daytona MLS
• 2014-06-03 Sold (MLS) $63,000 Daytona MLS
• 2014-03-04 Listed $64,900 Daytona MLS