314 Cottrill Ave

Daytona Beach, FL 32114

$365,000B-

9 bd · 3.6 ba · 2,478 sqft · Built 1923 · MultiFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,915/mo
• Mortgage (P&I): −$1,914
• Tax + insurance: −$608
• HOA: −$0
• Vac / Maint / Mgmt: −$1,032
• Net cashflow: $1,360/mo
• Annual: $16,325/yr
• Cap rate: 10.77%
• Cash-on-cash: 15.97%
• DSCR: 1.71
• 1% rule: 1.35%
• Cash to close: $102,200

Investor read

• This is a 3 × 3-bed/1.2-bath units multifamily listed at $365k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $453/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $365k).
• It's been on market 22 days — a 2% lower offer ($360k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $360k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#46 in FL, #867 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D-.
• 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: Palm Terrace Elementary School (math 34% / reading 33%, grade F, #1,758 of 2,144 statewide, top 83%, 592 students, 83% FRL); Campbell Middle School (math 28% / reading 30%, grade F, #479 of 571 statewide, top 84%, 855 students, 80% FRL); Mainland High School (math 30% / reading 37%, grade F, #400 of 667 statewide, top 61%, 1,855 students, 64% FRL) — zoned schools average 76% FRL vs 51% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 46% district-wide (-14 pts) — the specific schools serving this property underperform the Volusia average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.6%/yr); 310 active listings in the ZIP; lower-income renter base — watch delinquency; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 4y 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $102k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $4,915/mo this rent would consume 141% of the median local household income ($42k/yr) (locally 2772% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: paint — extensive peeling
• Minor: exterior siding — some minor wear