Prime XL Plan · Ormond Beach, FL 32174

$123,900

3 bd · 2.0 ba · 1,493 sqft · SingleFamily · 454 Days on market

Poor condition $560/mo HOA · 26% of rent

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Why this score? — see what drove the C+ 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 +25.5/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking to downsize and worried about space? This home is a perfect option. Just a shade under 1500 sqft, this split floor plan offers lots of open space between the living room/dining room and kitchen area. Large 200spqft Master bedroom and 12x13 guest rooms. This home will be built parallel to the street, giving a wonderful curb appeal with a two-car tandem driveway and oversized screen room/lanai. Arriving April 2024!

Key facts

• Listed 454 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $124k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% in Ormond Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#55 in FL, #965 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Tomoka Elementary School (math 62% / reading 61%, grade B, #634 of 2,144 statewide, top 30%, 709 students, 50% FRL); David C. Hinson Sr. Middle School (math 52% / reading 49%, grade C, #246 of 571 statewide, top 44%, 950 students, 52% FRL); Mainland High School (math 30% / reading 37%, grade F, #400 of 667 statewide, top 61%, 1,855 students, 64% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 989 active listings in the ZIP; 18 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 36% of the median local income ($71k/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 $857 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 454 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $109,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 454 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.74% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.96%
• DSCR: 1.44
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-4,272
• Equity at exit: $18,474

10-year hold

• IRR: 4.2%
• Equity multiple: 1.28×
• Total profit: $9,798
• Equity at exit: $10,713

Cash invested: $34,692 (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 32174

• Rents YoY: 1.6%
• Active inventory: 989
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,157 high
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,858/yr
• Insurance: −$52
• HOA: −$560
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $288

Break-even live

Break-even rent $1,793

Max offer price $123,900

Occupancy floor 82%

Sensitivity live

Price	-10% $374	-5% $331	+0% $288	+5% $245	+10% $202
Rent	-10% $118	-5% $203	+0% $288	+5% $373	+10% $458
Rate	-1.0pp $350	-0.5pp $319	base $288	+0.5pp $256	+1.0pp $223

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: $30,975
• Closing costs: $3,717
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1953 Nelson Ave Ormond Beach, FL	4.0	1.5	1600	$2,000	$1.25	25d	1	0.64mi
559 Cameo Dr Ormond Beach, FL	3.0	2.5	1668	$2,310	$1.38	25d	1	0.64mi
67 Brookwood Dr Ormond Beach, FL	3.0	2.0	1602	$2,500	$1.56	25d	1	0.70mi
51 Brookwood Dr Ormond Beach, FL	3.0	2.0	1791	$2,100	$1.17	25d	1	0.74mi
35 Magnolia Ave Unit 35 Ormond Beach, FL	2.0	2.0	1300	$1,800	$1.38	25d	1	0.78mi
1088 W Granada Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	950	$1,570	$1.65	13d	8	0.96mi
450 Tomoka Ave Unit 215 Ormond Beach, FL	2.0	1.5	1150	$1,750	$1.52	16d	1	1.08mi
1767 Valencia Ave Ormond Beach, FL	4.0	2.0	1216	$2,100	$1.73	25d	1	1.10mi
410 Sauls St Ormond Beach, FL	3.0	1.0	990	$1,500	$1.52	25d	1	1.11mi
145 Green Forest Dr Ormond Beach, FL	3.0	2.0	1625	$2,200	$1.35	25d	1	1.13mi
500 Shadow Lakes Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	856	$1,645	$1.92	13d	15	1.19mi
402 Fleming Ave Ormond Beach, FL	3.0	2.0	1495	$2,560	$1.71	23d	1	1.23mi
7 Stone Haven Trl Ormond Beach, FL	3.0	2.0	1678	$2,200	$1.31	20d	1	1.28mi
1420 Alabama Ave Daytona Beach, FL	4.0	2.0	1367	$1,824	$1.33	20d	1	1.28mi
162 Pine Cone Trl Ormond Beach, FL	3.0	2.0	1555	$2,100	$1.35	16d	1	1.28mi
188 Birch Tree Pl Daytona Beach, FL	4.0	2.0	1846	$2,700	$1.46	25d	1	1.39mi
1435 Atlanta Dr Daytona Beach, FL	3.0	1.0	1200	$1,800	$1.50	25d	1	1.39mi
1235 Alcazar St Daytona Beach, FL	3.0	2.0	1498	$2,100	$1.40	25d	1	1.46mi

HOA detail

• Monthly dues: $560 · $6,720/yr

Listing history 19 events

1. 2026-06-22
   days on market $123,900 Active 454 DOM
2. 2026-06-18
   days on market $123,900 Active 451 DOM
3. 2026-06-17
   days on market $123,900 Active 450 DOM
4. 2026-06-16
   days on market $123,900 Active 449 DOM
5. 2026-06-15
   days on market $123,900 Active 448 DOM
6. 2026-06-14
   days on market $123,900 Active 446 DOM
7. 2026-06-10
   days on market $123,900 Active 443 DOM
8. 2026-06-09
   days on market $123,900 Active 442 DOM
9. 2026-06-08
   days on market $123,900 Active 441 DOM
10. 2026-06-07
    days on market $123,900 Active 440 DOM
11. 2026-06-05
    days on market $123,900 Active 437 DOM
12. 2026-06-03
    days on market $123,900 Active 436 DOM
13. 2026-06-03
    days on market $123,900 Active 435 DOM
14. 2026-06-01
    days on market $123,900 Active 434 DOM
15. 2026-05-31
    days on market $123,900 Active 433 DOM
16. 2026-05-31
    days on market $123,900 Active 432 DOM
17. 2025-05-01
    status Active 424-char remark

    Show marketing remark (424 chars)

    Looking to downsize and worried about space? This home is a perfect option. Just a shade under 1500 sqft, this split floor plan offers lots of open space between the living room/dining room and kitchen area. Large 200spqft Master bedroom and 12x13 guest rooms. This home will be built parallel to the street, giving a wonderful curb appeal with a two-car tandem driveway and oversized screen room/lanai. Arriving April 2024!

18. 2025-05-01
    historical 424-char remark

    Show marketing remark (424 chars)

    Looking to downsize and worried about space? This home is a perfect option. Just a shade under 1500 sqft, this split floor plan offers lots of open space between the living room/dining room and kitchen area. Large 200spqft Master bedroom and 12x13 guest rooms. This home will be built parallel to the street, giving a wonderful curb appeal with a two-car tandem driveway and oversized screen room/lanai. Arriving April 2024!

19. 2025-03-24
    listed $123,900 Active 424-char remark

    Show marketing remark (424 chars)

    Looking to downsize and worried about space? This home is a perfect option. Just a shade under 1500 sqft, this split floor plan offers lots of open space between the living room/dining room and kitchen area. Large 200spqft Master bedroom and 12x13 guest rooms. This home will be built parallel to the street, giving a wonderful curb appeal with a two-car tandem driveway and oversized screen room/lanai. Arriving April 2024!

ⓘ 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: $25,887
• − Mortgage interest: −$6,940
• − Property taxes: −$1,858
• − Insurance: −$620
• − Repairs & maintenance: −$2,071
• − Management: −$2,071
• − HOA: −$6,720
• − Depreciation: −$3,604
• Taxable income: $2,002
• Est. tax owed @ 24.0%: −$481
• After-tax cash flow: $2,975/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 · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major work on the exterior siding, paint, and roof. Significant value can be added through these improvements, enhancing both resale and rental potential.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major exterior paint — Severe peeling and discoloration
• Major roof — Aged appearance

Value-add opportunities

• Both exterior siding and paint — Improves curb appeal and value
• Both roof replacement — Essential for structural integrity and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
exterior paint · Severe peeling and discoloration	Major	$15,000–50,000
roof · Aged appearance	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior siding and paint — Improves curb appeal and value ↑
• Both roof replacement — Essential for structural integrity and value ↑

ⓘ 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 — Ormond Beach

• Score: 83/100
• State rank: #55
• US rank: #965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ormond Beach, FL
• County: Volusia County · 556,871 people
• City population: 69,624
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 54,783
• Household income: $71,011
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1158.0

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 (82%)
• Race & ethnicity: White 82% Black 6% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -327.97%
• Current HPI: 271.92
• Rent YoY: ▲ 1.64%
• 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

3 events — show timeline

• 2025-05-01 Relisted — Zillow
• 2025-05-01 Delisted — Zillow
• 2025-03-24 Listed $123,900 Zillow