312 Belleza Blvd Plan · Edgewater, FL 32141

$155,995

2 bd · 2.0 ba · 1,296 sqft · Manufactured · 39 Days on market

Manufactured home 55+ age-restricted Excellent condition $120/sqft · 18% below area Est $190k · 18% under

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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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.9/10.0
• Condition / age +4.8/5.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -4.8

Listing remarks

Located in Hacienda del Rio, a premier gated 55+ community, nestled along the Intracoastal. Beautiful brand New Palm Harbor home, ready for move in. Spacious and modern 2BR/2BA with gorgeous features you will love. Open kitchen with open shelving, stainless steel appliances, and a nice island that doubles as a breakfast bar. Formal dining room, large living room and 2 nicely sized bedrooms with a gorgeous primary suite bathroom that includes a large tiled shower with luxury rain shower head, and designer touches like under cabinet lighting. Call us today to see this home for yourself- it will sell fast!

Key facts

• Listed 39 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $156k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (2.3% below list).
• Recommended offer: $151k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.5% in Edgewater — 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 72/100 on livability (#329 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, 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: Indian River Elementary School (math 57% / reading 55%, grade C+, #832 of 2,144 statewide, top 40%, 613 students, 61% FRL); New Smyrna Beach Middle School (math 43% / reading 43%, grade D-, #331 of 571 statewide, top 59%, 1,037 students, 53% FRL); New Smyrna Beach High School (math 34% / reading 52%, grade F, #255 of 667 statewide, top 39%, 1,810 students, 41% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 440 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 88d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 39 days — a 3% lower offer ($151k) is reasonable based on typical stale-listing flexibility.

Recommended offer $151,315 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (median comp): $189,900
• List price: $155,995
• Delta: -17.85%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Ash St	1.41mi	3/2.0 (+1)	1,296 (0%)	1mo	$189,900	$147	59
113 Arbor Ln	0.90mi	2/2.0	1,604 (+24%)	1mo	$315,000	$196	39
142 N Indian River Dr N	1.24mi	2/2.0	989 (-24%)	1mo	$180,000	$182	39
142 Indian River Dr N Unit N	1.24mi	2/2.0	989 (-24%)	1mo	$180,000	$182	39
604 Topside Cir	1.39mi	2/2.0	1,100 (-15%)	1mo	$225,000	$205	39
501 Topside Cir	1.45mi	3/2.0 (+1)	1,528 (+18%)	2mo	$265,000	$173	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-17,206
• Equity at exit: $23,259

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-4,525
• Equity at exit: $13,488

Cash invested: $43,679 (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 →

Active competition Active MLS

• For sale now: 9 active
• Median asking: $155,995 ($118/sqft)
• Median days on market: 30 d
• This list price: 44% of active listings are priced below it
• ARV vs active asking: +23.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32141

• Home prices YoY: -19.2%
• Active inventory: 440
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,525 high
• Mortgage (P&I): −$818
• Tax est. 1.5%: −$195 /mo · $2,340/yr
• Insurance: −$65
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $126

Break-even live

Break-even rent $1,365

Max offer price $155,995

Occupancy floor 87%

Sensitivity live

Price	-10% $234	-5% $180	+0% $126	+5% $72	+10% $19
Rent	-10% $6	-5% $66	+0% $126	+5% $187	+10% $247
Rate	-1.0pp $205	-0.5pp $166	base $126	+0.5pp $86	+1.0pp $45

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: $38,999
• Closing costs: $4,680
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
172 Riverfront Way Unit 172 Edgewater, FL	3.0	2.5	1373	$1,950	$1.42	88d	1	1.10mi
211 River Front Way Edgewater, FL	3.0	2.5	1497	$2,000	$1.34	6d	1	1.10mi
136 River Front Way Edgewater, FL	3.0	2.5	1707	$2,100	$1.23	0d	1	1.21mi
3413 Juniper Dr Edgewater, FL	2.0	1.0	1000	$1,500	$1.50	119d	1	1.42mi
20 River Park Blvd Edgewater, FL	2.0	1.0	1000	$1,700	$1.70	110d	1	1.43mi
3318 India Palm Dr Edgewater, FL	2.0	2.0	1200	$1,875	$1.56	119d	1	1.47mi
140 Old Mill Pond Rd Edgewater, FL	2.0	2.0	1614	$1,900	$1.18	6d	1	1.48mi

Listing history 6 events

1. 2026-06-03
   days on market $155,995 Active 39 DOM
2. 2026-06-03
   days on market $155,995 Active 38 DOM
3. 2026-06-01
   days on market $155,995 Active 37 DOM
4. 2026-05-31
   days on market $155,995 Active 36 DOM
5. 2026-05-31
   days on market $155,995 Active 35 DOM
6. 2026-04-25
   listed $155,995 Active 610-char remark

ⓘ 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: $18,295
• − Mortgage interest: −$8,738
• − Property taxes: −$2,340
• − Insurance: −$780
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$4,538
• Taxable loss: −$1,028
• Est. tax savings @ 24.0%: +$247
• After-tax cash flow: $1,763/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 · 12 photos

Excellent 95/100 None rehab

This move-in-ready manufactured home in Hacienda del Rio is in excellent condition with modern features and a welcoming exterior. Minor updates to the exterior and landscaping can further enhance its value.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Add a smart home system — Improves convenience and can increase both resale and rental value. ↑
• Both Install smart locks — Enhances security and can increase both resale and rental value. ↑

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Indian River Elementary School C+ FL #832/2,144 Nat'l #9,382/41,679 Middle New Smyrna Beach Middle School D- FL #331/571 Nat'l #5,160/14,009 High New Smyrna Beach High School F FL #255/667 Nat'l #7,439/17,239

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

B Composite livability gradescore 72/100

Livability — Edgewater

• Score: 72/100
• State rank: #329
• US rank: #5753

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewater, FL
• County: Volusia County · 572,749 people
• City population: 18,726
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 18,726
• Household income: $63,936
• Rent vs Own: 6.2% rent · 93.8% own
• Severe rent burden: 26% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 1%

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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: ▼ -80.12%
• Current HPI: 337.8301
• Rent YoY: —
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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