148 Rio Grande · Edgewater, FL 32141

$114,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 42 Days on market

Built 1989 Good condition

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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
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Edgewater living in the sought-after Hacienda Del Rio community! This well-maintained manufactured home is situated on leased land and offers an affordable opportunity to enjoy the Florida lifestyle just minutes from the Intracoastal Waterway, shopping, dining, and nearby beaches. Featuring a spacious layout, covered parking, and community amenities, this home is perfect as a primary residence, seasonal getaway, or retirement retreat. Conveniently located near New Smyrna Beach and easy access to I-95. Buyer subject to community approval. Monthly lot rent applies.

Key facts

• Parking
• Built 1989
• Listed 42 days

Property features AI

Finance

• Other: Furnishing negotiable
• HOA & community: Senior community; Sidewalks

Exterior

• Parking: Carport; Off-street parking; 1 carport space
• Security: 24-hour security; Smoke detector(s)
• Utilities: Public sewer; Water connected; Sewer connected; Cable not available
• Home design: Double wide manufactured home; One level
• Construction: Aluminum siding; Shingle roof
• Exterior features: Patio; Porch; Screened porch; 24-hour security; Smoke detector(s); City street frontage; Asphalt road surface; Other lot features

Interior

• Kitchen: Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Breakfast bar; Ceiling fan(s); Primary bathroom with shower (no tub)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $114k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#329 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, 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: 304 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); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 34% of the median local income ($64k/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 $788 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 + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.

Recommended offer $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.61% ✓
• Cap rate: 13.25%
• Cash-on-cash: 24.85%
• DSCR: 2.11
• GRM: 5.2

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: 18.3%
• Equity multiple: 1.74×
• Total profit: $23,660
• Equity at exit: $16,998

10-year hold

• IRR: 26.7%
• Equity multiple: 3.35×
• Total profit: $74,932
• Equity at exit: $9,857

Cash invested: $31,920 (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 32141

• Home prices YoY: -19.2%
• Active inventory: 304
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,834 high
• Mortgage (P&I): −$598
• Tax est. 1.5%: −$142 /mo · $1,710/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $661

Break-even live

Break-even rent $997

Max offer price $114,000

Occupancy floor 59%

Sensitivity live

Price	-10% $740	-5% $700	+0% $661	+5% $622	+10% $582
Rent	-10% $516	-5% $589	+0% $661	+5% $734	+10% $806
Rate	-1.0pp $718	-0.5pp $690	base $661	+0.5pp $632	+1.0pp $601

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
287 Club Rio Dr Edgewater, FL	2.0	2.0	1152	$1,599	$1.39	15d	1	0.38mi
3413 Juniper Dr Edgewater, FL	2.0	1.0	1000	$1,500	$1.50	24d	1	1.21mi
20 River Park Blvd Edgewater, FL	2.0	1.0	1000	$1,700	$1.70	15d	1	1.27mi
3318 India Palm Dr Edgewater, FL	2.0	2.0	1200	$1,875	$1.56	24d	1	1.28mi
3411 Needle Palm Dr Edgewater, FL	3.0	1.0	960	$2,000	$2.08	24d	1	1.38mi
3208 India Palm Dr Edgewater, FL	2.0	2.0	990	$1,550	$1.57	12d	1	1.42mi

Listing history 16 events

1. 2026-06-18
   days on market $114,000 Active 42 DOM
2. 2026-06-17
   days on market $114,000 Active 41 DOM
3. 2026-06-16
   days on market $114,000 Active 40 DOM
4. 2026-06-15
   days on market $114,000 Active 39 DOM
5. 2026-06-14
   days on market $114,000 Active 37 DOM
6. 2026-06-10
   days on market $114,000 Active 34 DOM
7. 2026-06-09
   days on market $114,000 Active 33 DOM
8. 2026-06-08
   days on market $114,000 Active 32 DOM
9. 2026-06-07
   days on market $114,000 Active 31 DOM
10. 2026-06-05
    days on market $114,000 Active 28 DOM
11. 2026-06-03
    days on market $114,000 Active 27 DOM
12. 2026-06-03
    days on market $114,000 Active 26 DOM
13. 2026-06-01
    days on market $114,000 Active 25 DOM
14. 2026-05-31
    days on market $114,000 Active 24 DOM
15. 2026-05-31
    days on market $114,000 Active 23 DOM
16. 2026-05-07
    listed $114,000 Active 580-char remark

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

Taxation est. · year 1

• Rental income: $22,009
• − Mortgage interest: −$6,386
• − Property taxes: −$1,710
• − Insurance: −$570
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$3,316
• Taxable income: $6,505
• Est. tax owed @ 24.0%: −$1,561
• After-tax cash flow: $6,372/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.

Condition & rehab AI · 30 photos

Good 80/100 Cosmetic rehab

This well-maintained manufactured home in Edgewater, Florida, offers a good condition with minimal repairs needed. It's perfect for a primary residence, seasonal getaway, or retirement retreat.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Edgewater

• Score: 72/100
• State rank: #329
• US rank: #5753

Category grades

Amenities D- Commute F Cost of living A+ 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: Edgewater, FL
• County: Volusia County · 556,871 people
• City population: 18,726
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 18,726
• Household income: $63,936
• Rent vs Own: 6.2% rent · 93.8% own
• Severe rent burden: 161.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 2% 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: ▼ -80.12%
• Current HPI: 337.8301
• 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

1 event — show timeline

• 2026-05-07 Listed $114,000 realMLS