5 General Doolittle Rd

Daytona Beach, FL 32124

$230,000B-

2 bd · 1.0 ba · 1,264 sqft · Built 1980 · SingleFamily · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,568/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$539
• Net cashflow: $674/mo
• Annual: $8,093/yr
• Cap rate: 9.81%
• Cash-on-cash: 12.57%
• DSCR: 1.56
• 1% rule: 1.12%
• Cash to close: $64,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $230k.
• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• It's been on market 65 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k 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); Mainland High School (math 30% / reading 37%, grade F, #400 of 667 statewide, top 61%, 1,855 students, 64% FRL) — zoned schools average 74% FRL vs 51% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 46% district-wide (-13 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 fast (+5.5%/yr); 333 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 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 $31k; list at $230k implies a 642% gain — meaningful room to come down on a strong offer.
• At projected returns (-2.0% appreciation + 5.5% rent growth), your $64k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 33% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.
• 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.