840 Center Ave #24 · Holly Hill, FL 32117

$129,000

2 bd · 2.0 ba · 952 sqft · Condo · 37 Days on market

Built 1983 $360/mo HOA · 24% 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 +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• DSCR +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unit shows like new, Bright & Airy condo that is move in ready. The owners have kept it in meticulous condition. New roof in 2017, Newer A/C & water heater . New refrigerator in 2016. All appliances newer. Original owners for the past 21 years , never rented out. Minimal use as snow birds. Amenities include tennis courts, pool, club house. Pets under 20lbs OK. Shows well ! This one won't last long . .. All information recorded in the MLS intended to be accurate but cannot be guaranteed. ;LocationDescription: Condo ; Water: City

Key facts

• Updated condo
• Modern finishes
• New appliances

Tags

• UPDATED CONDO
• FULLY FURNISHED
• NEWLY RENOVATED KITCHEN
• MODERN FINISHES
• NEW APPLIANCES
• LOW MONTHLY MAINTENANCE FEE

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee (listed); Community clubhouse; Community pool; On-site laundry; Grounds maintenance provided; Structure maintenance included; Trash service included; Sewer and water included

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Condominium (residential); Updated / remodeled condition; Faces east; Entry on level 2; One level unit within a 2-story building
• Construction: Condominium construction
• Exterior features: Front porch; Paved road access

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Dishwasher
• Bedrooms: 5 total rooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s) for cooling
• Interior features: Ceiling fans; Skylights; Furnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $-48 ($-572/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (5.3% below list).
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $122k (5.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#325 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment 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: Holly Hill School (math 27% / reading 33%, grade F, #1,882 of 2,144 statewide, top 88%, 1,149 students, 79% FRL); Mainland High School (math 30% / reading 37%, grade F, #400 of 667 statewide, top 61%, 1,855 students, 64% FRL) — zoned schools average 72% FRL vs 51% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 46% district-wide (-15 pts) — the specific schools serving this property underperform the Volusia average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.0%/yr); 333 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 32% of the median local income ($56k/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 $892 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

• It's been on market 37 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask is 9823% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $122,107 (5.3% 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 37 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
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 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?
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: 1.18% ✓
• Cap rate: 5.85%
• Cash-on-cash: -1.58%
• DSCR: 0.93
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.01% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.26×
• Total profit: $-26,685
• Equity at exit: $19,234

10-year hold

• IRR: -24.1%
• Equity multiple: -0.05×
• Total profit: $-37,948
• Equity at exit: $11,154

Cash invested: $36,120 (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 32117

• Home prices YoY: -8.2%
• Rents YoY: 1.0%
• Active inventory: 333
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,524 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$360
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $-48

Break-even live

Break-even rent $1,584

Max offer price $122,107

Occupancy floor 98%

Sensitivity live

Price	-10% $42	-5% $-3	+0% $-48	+5% $-92	+10% $-137
Rent	-10% $-168	-5% $-108	+0% $-48	+5% $13	+10% $73
Rate	-1.0pp $17	-0.5pp $-15	base $-48	+0.5pp $-81	+1.0pp $-115

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1559 Hammock Dr Unit B Holly Hill, FL	2.0	1.5	1100	$1,375	$1.25	16d	1	0.17mi
1615 Derbyshire Rd Daytona Beach, FL	3.0	1.5	1000	$1,950	$1.95	16d	1	0.35mi
1563 Hancock Ln Daytona Beach, FL	2.0	2.0	912	$1,475	$1.62	13d	1	0.37mi
946 15th St Daytona Beach, FL	2.0	2.0	1010	$1,500	$1.49	25d	1	0.42mi
1707 Evergreen St Ormond Beach, FL	2.0	1.0	868	$1,750	$2.02	25d	1	0.42mi
900 LPGA Blvd Daytona Beach, FL	1.0–2.0	1.0–2.0	885	$1,495	$1.69	16d	14	0.62mi
100 Windflower LN Daytona Beach, FL	1.0–3.0	1.0–2.0	1021	$2,014	$1.97	13d	63	0.85mi
101 Claysburg LN Holly Hill, FL	1.0–3.0	1.0–2.0	1163	$2,322	$2.00	16d	25	0.85mi
638 LPGA Blvd Unit B Daytona Beach, FL	3.0	2.0	1111	$2,490	$2.24	25d	1	0.91mi
1290 9th St #106 Daytona Beach, FL	1.0	1.0	608	$1,195	$1.97	16d	1	1.08mi
1290 9th St Daytona Beach, FL	1.0	1.0	608	$1,060	$1.74	25d	3	1.08mi
1600 Lpga Blvd Daytona Beach, FL	1.0–3.0	1.0–2.0	1045	$2,065	$1.98	13d	21	1.13mi
1540 Espanola Ave Unit 9 Daytona Beach, FL	1.0	1.0	600	$900	$1.50	25d	1	1.25mi
840 Center Ave Apt 75 Holly Hill, FL	2.0	1.0	900	$1,250	$1.39	25d	1	1.25mi
660 8th St Daytona Beach, FL	2.0	1.0	900	$1,375	$1.53	25d	1	1.27mi
1229 Kennedy Rd Daytona Beach, FL	2.0	1.0	800	$950	$1.19	16d	1	1.43mi
1229 Kennedy Rd #43 Daytona Beach, FL	1.0	1.0	625	$900	$1.44	25d	1	1.43mi
1225 Kennedy Rd Daytona Beach, FL	2.0	1.0	800	$825	$1.03	13d	1	1.46mi
1216 Kennedy Rd Unit 4 Daytona Beach, FL	2.0	1.0	900	$975	$1.08	16d	1	1.46mi
1216 Kennedy Rd Unit 10 Daytona Beach, FL	2.0	1.0	900	$975	$1.08	25d	1	1.46mi
1221 Kennedy Rd Unit 48 Daytona Beach, FL	1.0	1.0	800	$775	$0.97	16d	1	1.47mi
1221 Kennedy Rd Unit 43 Daytona Beach, FL	1.0	1.0	625	$775	$1.24	13d	1	1.47mi
1851 Lpga Blvd Daytona Beach, FL	1.0–3.0	1.0–3.0	966	$1,918	$1.98	13d	49	1.48mi
100 Integra Shores Dr Daytona Beach, FL	2.0–3.0	2.0	1126	$1,395	$1.24	13d	6	1.49mi
1217 Kennedy Rd Unit 56 Daytona Beach, FL	2.0	1.0	800	$1,000	$1.25	25d	1	1.49mi
1217 Kennedy Rd Unit 44 Daytona Beach, FL	1.0	1.0	800	$775	$0.97	13d	1	1.49mi
1355 Hiawatha Ave Daytona Beach, FL	2.0	1.0	780	$1,675	$2.15	16d	1	1.49mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-22
   days on market $129,000 Active 37 DOM
2. 2026-06-18
   days on market $129,000 Active 34 DOM
3. 2026-06-17
   days on market $129,000 Active 33 DOM
4. 2026-06-16
   days on market $129,000 Active 32 DOM
5. 2026-06-15
   days on market $129,000 Active 31 DOM
6. 2026-06-14
   pricedays on market $129,000 Active 29 DOM
7. 2026-06-10
   days on market $140,000 Active 26 DOM
8. 2026-06-09
   days on market $140,000 Active 25 DOM
9. 2026-06-08
   days on market $140,000 Active 24 DOM
10. 2026-06-07
    remarks 665-char remark
11. 2026-06-07
    days on market $140,000 Active 23 DOM
12. 2026-06-05
    days on market $140,000 Active 20 DOM
13. 2026-06-03
    days on market $140,000 Active 19 DOM
14. 2026-06-03
    days on market $140,000 Active 18 DOM
15. 2026-06-01
    days on market $140,000 Active 17 DOM
16. 2026-05-31
    days on market $140,000 Active 16 DOM
17. 2026-05-31
    days on market $140,000 Active 15 DOM
18. 2026-05-15
    listed $140,000 Active 647-char remark
19. 2018-04-14
    status Pending
20. 2018-04-04
    status Pending
21. 2018-03-08
    listed $69,900 Active

    Show marketing remark (550 chars)

    This unit shows like new, Bright & Airy condo that is move in ready. The owners have kept it in meticulous condition. New roof in 2017, Newer A/C & water heater . New refrigerator in 2016. All appliances newer. Original owners for the past 21 years , never rented out. Minimal use as snow birds. Amenities include tennis courts, pool, club house. Pets under 20lbs OK. Shows well ! This one won't last long . .. All information recorded in the MLS intended to be accurate but cannot be guaranteed. ;LocationDescription: Condo ; Water: City

22. 2018-03-08
    listed $69,900

    Show marketing remark (550 chars)

    This unit shows like new, Bright & Airy condo that is move in ready. The owners have kept it in meticulous condition. New roof in 2017, Newer A/C & water heater . New refrigerator in 2016. All appliances newer. Original owners for the past 21 years , never rented out. Minimal use as snow birds. Amenities include tennis courts, pool, club house. Pets under 20lbs OK. Shows well ! This one won't last long . .. All information recorded in the MLS intended to be accurate but cannot be guaranteed. ;LocationDescription: Condo ; Water: City

ⓘ 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: $18,286
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − HOA: −$4,320
• − Depreciation: −$3,753
• Taxable loss: −$2,518
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $33/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 — Holly Hill

• Score: 72/100
• State rank: #325
• US rank: #5737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holly Hill, FL
• County: Volusia County · 556,871 people
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 30,955
• Household income: $56,419
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1781.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 27% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 86% English-only · Spanish 8% Vietnamese 1% 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: ▼ -96.62%
• Current HPI: 1084.54
• Rent YoY: ▲ 1.01%
• 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

+84.5% since first listed

7 events — show timeline

• 2026-06-12 Price Changed $129,000 Daytona MLS
• 2026-06-02 Listed for Rent $1,300 DMLS
• 2026-05-15 Listed $140,000 Daytona MLS
• 2018-04-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-04-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-08 Listed $69,900 Stellar MLS as Distributed by MLS Grid
• 2018-03-08 Listed $69,900 Stellar MLS as Distributed by MLS Grid