637 Thorpe Ave N · Orange City, FL 32763

$144,900

2 bd · 1.5 ba · 1,134 sqft · SingleFamily public records · 12 Days on market

Built 1956

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SHORT SALE. BANK SAYS $46k FANTASTIC HOME FOR SOMEONE WHO WANTS THAT FEELING OF COUNTRY LIVING BUT CLOSE TO EVERYTHING, KNOTTY PINE CEILINGS & WALLS IN DINING & KITCHEN, HALL & BTHRM. HUGE INLAW SUITE HAS PRIVATE ENTRANCE AND COULD BEUSED FOR A MASTER BEDROOM * * * THAT IS NOT COUNTED IN SQUARE FOOTAGE * * * FAMILY ROOM HAS A BUCK STOVE. LOTS OF STORAGE THROUGHOUT THE HOME. TWO BEDROOMS HAVE ORIGINAL FLOORS IN GOOD SHAPE. INSIDE UTILITY. LARGE AND PRIVATE BACKYARD OVER 1/2 ACRE AND VERY PRIVATE. NEWER SEPTIC FIELD.

Key facts

• Generous lot
• Usable outdoor space
• Conveniently located

Tags

• GENEROUS LOT
• USABLE OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Directions: I-4 to Exit 114 (Howland Blvd). West on Howland Blvd, right on N Volusia Ave (US-17/92), left on Graves Ave.

Exterior

• Parking: Attached garage
• Utilities: Public water; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residential home; Residential use
• Construction: Block and concrete construction
• Exterior features: Not in a subdivision

Interior

• Bedrooms: 2 total rooms (includes bedrooms and other rooms)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating (type listed as Other); Has cooling (type listed as Other)
• Interior features: No appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).

Location & tenants

• Location reads 71/100 on livability (#406 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, amenities 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: Rents rising fast (+5.2%/yr); 243 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 33% of the median local income ($67k/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 $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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $70k; list at $145k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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.

Recommended offer $144,900

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.27% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• GRM: 6.5

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: 7.3%
• Equity multiple: 1.29×
• Total profit: $11,795
• Equity at exit: $21,605

10-year hold

• IRR: 18.4%
• Equity multiple: 2.69×
• Total profit: $68,388
• Equity at exit: $12,528

Cash invested: $40,572 (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 32763

• Rents YoY: 5.2%
• Active inventory: 243
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$150 /mo · $1,803/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $488

Break-even live

Break-even rent $1,228

Max offer price $144,900

Occupancy floor 69%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Patlin Ave Orange City, FL	2.0	1.5	1022	$1,600	$1.57	23d	1	0.83mi
550 E Minnesota Ave Orange City, FL	2.0	1.0	900	$2,850	$3.17	23d	1	1.00mi
345 E Ohio Ave #345 Orange City, FL	2.0	2.0	1006	$1,697	$1.69	23d	1	1.06mi
240 Whispering Oaks Ct Orange City, FL	1.0	1.0	729	$1,289	$1.77	14d	1	1.16mi

Listing history 21 events

1. 2026-06-10
   status $144,900 Pending 12 DOM
2. 2026-06-09
   days on market $144,900 Active 12 DOM
3. 2026-06-08
   days on market $144,900 Active 11 DOM
4. 2026-06-07
   days on market $144,900 Active 10 DOM
5. 2026-06-05
   days on market $144,900 Active 7 DOM
6. 2026-06-03
   days on market $144,900 Active 6 DOM
7. 2026-06-02
   days on market $144,900 Active 5 DOM
8. 2026-06-01
   days on market $144,900 Active 4 DOM
9. 2026-05-31
   days on market $144,900 Active 3 DOM
10. 2026-05-31
    days on market $144,900 Active 2 DOM
11. 2026-05-28
    listed $144,900 Active
12. 2013-02-26
    soldstatus $70,000
13. 2013-02-26
    soldstatus $85,000
14. 2012-01-24
    soldstatus $46,000 544-char remark

    Show marketing remark (544 chars)

    SHORT SALE. BANK SAYS $46k FANTASTIC HOME FOR SOMEONE WHO WANTS THAT FEELING OF COUNTRY LIVING BUT CLOSE TO EVERYTHING, KNOTTY PINE CEILINGS & WALLS IN DINING & KITCHEN, HALL & BTHRM. HUGE INLAW SUITE HAS PRIVATE ENTRANCE AND COULD BEUSED FOR A MASTER BEDROOM * * * THAT IS NOT COUNTED IN SQUARE FOOTAGE * * * FAMILY ROOM HAS A BUCK STOVE. LOTS OF STORAGE THROUGHOUT THE HOME. TWO BEDROOMS HAVE ORIGINAL FLOORS IN GOOD SHAPE. INSIDE UTILITY. LARGE AND PRIVATE BACKYARD OVER 1/2 ACRE AND VERY PRIVATE. NEWER SEPTIC FIELD.

15. 2011-11-28
    historical 544-char remark

    Show marketing remark (544 chars)

    SHORT SALE. BANK SAYS $46k FANTASTIC HOME FOR SOMEONE WHO WANTS THAT FEELING OF COUNTRY LIVING BUT CLOSE TO EVERYTHING, KNOTTY PINE CEILINGS & WALLS IN DINING & KITCHEN, HALL & BTHRM. HUGE INLAW SUITE HAS PRIVATE ENTRANCE AND COULD BEUSED FOR A MASTER BEDROOM * * * THAT IS NOT COUNTED IN SQUARE FOOTAGE * * * FAMILY ROOM HAS A BUCK STOVE. LOTS OF STORAGE THROUGHOUT THE HOME. TWO BEDROOMS HAVE ORIGINAL FLOORS IN GOOD SHAPE. INSIDE UTILITY. LARGE AND PRIVATE BACKYARD OVER 1/2 ACRE AND VERY PRIVATE. NEWER SEPTIC FIELD.

16. 2009-06-29
    listed $45,900 544-char remark

    Show marketing remark (544 chars)

    SHORT SALE. BANK SAYS $46k FANTASTIC HOME FOR SOMEONE WHO WANTS THAT FEELING OF COUNTRY LIVING BUT CLOSE TO EVERYTHING, KNOTTY PINE CEILINGS & WALLS IN DINING & KITCHEN, HALL & BTHRM. HUGE INLAW SUITE HAS PRIVATE ENTRANCE AND COULD BEUSED FOR A MASTER BEDROOM * * * THAT IS NOT COUNTED IN SQUARE FOOTAGE * * * FAMILY ROOM HAS A BUCK STOVE. LOTS OF STORAGE THROUGHOUT THE HOME. TWO BEDROOMS HAVE ORIGINAL FLOORS IN GOOD SHAPE. INSIDE UTILITY. LARGE AND PRIVATE BACKYARD OVER 1/2 ACRE AND VERY PRIVATE. NEWER SEPTIC FIELD.

17. 2009-06-24
    historical
18. 2008-10-05
    listed $129,900
19. 2008-09-24
    historical
20. 2007-10-05
    listed $174,000
21. 1995-06-28
    soldstatus $72,600

ⓘ 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: $1,803 · $150/mo
• Projected year-2 tax: $1,803 · $150/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,148
• − Mortgage interest: −$8,117
• − Property taxes: −$1,803
• − Insurance: −$724
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$4,215
• Taxable income: $3,745
• Est. tax owed @ 24.0%: −$899
• After-tax cash flow: $4,952/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 — Orange City

• Score: 71/100
• State rank: #406
• US rank: #7175

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange City, FL
• County: Volusia County · 556,871 people
• City population: 24,951
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 24,951
• Household income: $66,716
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1544.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 7% Black 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 12%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 12% 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: ▼ -225.13%
• Current HPI: 335.8393
• 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

+99.6% since first listed

11 events — show timeline

• 2026-05-28 Listed $144,900 Daytona MLS
• 2013-02-26 Sold (Public Records) $85,000 Public Records
• 2013-02-26 Sold (Public Records) $70,000 Public Records
• 2012-01-24 Sold (MLS) $46,000 Stellar MLS as Distributed by MLS Grid
• 2011-11-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-06-29 Listed $45,900 Stellar MLS as Distributed by MLS Grid
• 2009-06-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-10-05 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2008-09-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-10-05 Listed $174,000 Stellar MLS as Distributed by MLS Grid
• 1995-06-28 Sold (Public Records) $72,600 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,803 · +7.9% YoY. Source: county tax records.