3 Fairway Ct · DeLand, FL 32724

$124,900

2 bd · 1.5 ba · 930 sqft · Condo public records · 401 Days on market

Built 1976 $250/mo HOA · 17% of rent

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Why this score? — see what drove the D+ 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 +15.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +4.9/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

Key facts

• Clubhouse
• Community pool
• Landscaped grounds

Tags

• FLORIDA ROOM
• COMMUNITY POOL
• CLUBHOUSE
• LANDSCAPED GROUNDS
• HISTORIC DOWNTOWN DELAND

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $57 ($681/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#498 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B; Watch: schools D+, amenities F, 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.
• Market conditions: Rents rising (+2.8%/yr); 662 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 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 401 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $125k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 401 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-16,722
• Equity at exit: $18,623

10-year hold

• IRR: -4.5%
• Equity multiple: 0.71×
• Total profit: $-10,301
• Equity at exit: $10,799

Cash invested: $34,972 (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 32724

• Rents YoY: 2.8%
• Active inventory: 662
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,472 high
• Mortgage (P&I): −$655
• Tax from tax record: −$149 /mo · $1,790/yr
• Insurance: −$52
• HOA: −$250
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $57

Break-even live

Break-even rent $1,400

Max offer price $124,900

Occupancy floor 91%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Winslow Ave Deland, FL	2.0	1.0	1100	$1,450	$1.32	23d	1	0.38mi
727 Wood St Deland, FL	3.0	1.0	900	$1,329	$1.48	19d	1	0.68mi
121 N Colorado Ave Deland, FL	2.0	1.0	770	$1,095	$1.42	19d	1	0.76mi
832 E Indiana Ave Deland, FL	2.0	1.0	893	$1,275	$1.43	23d	1	0.76mi
300 Miller Rd DeLand, FL	1.0–2.0	1.0–2.0	785	$1,324	$1.69	23d	1	0.91mi
622 E Rich Ave Deland, FL	2.0	1.0	884	$1,230	$1.39	14d	1	0.93mi
400 E Howry Ave Deland, FL	1.0–2.0	1.0–2.0	956	$1,995	$2.09	11d	25	0.98mi
1825 E New York Ave Deland, FL	1.0	1.0	550	$950	$1.73	23d	1	1.02mi
1825 E New York Ave Deland, FL	1.0	1.0	660	$925	$1.40	11d	1	1.02mi
1825 E New York Ave Apt 6 DeLand, FL	1.0	1.0	660	$925	$1.40	23d	1	1.02mi
240 E Howry Ave DeLand, FL	2.0	1.0	816	$1,500	$1.84	23d	1	1.17mi
117 E Euclid Ave DeLand, FL	1.0	1.0	998	$2,400	$2.40	23d	1	1.24mi
101 E New Hampshire Ave Deland, FL	1.0	1.0	576	$1,140	$1.98	11d	11	1.42mi
12 S University Cir Deland, FL	2.0	2.0	1105	$1,775	$1.61	23d	1	1.44mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterelectriclandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $124,900 Active 401 DOM
2. 2026-06-17
   days on market $124,900 Active 400 DOM
3. 2026-06-16
   days on market $124,900 Active 399 DOM
4. 2026-06-15
   days on market $124,900 Active 398 DOM
5. 2026-06-14
   days on market $124,900 Active 396 DOM
6. 2026-06-10
   days on market $124,900 Active 393 DOM
7. 2026-06-09
   days on market $124,900 Active 392 DOM
8. 2026-06-08
   days on market $124,900 Active 391 DOM
9. 2026-06-07
   days on market $124,900 Active 390 DOM
10. 2026-06-05
    days on market $124,900 Active 387 DOM
11. 2026-06-03
    days on market $124,900 Active 386 DOM
12. 2026-06-03
    days on market $124,900 Active 385 DOM
13. 2026-06-01
    days on market $124,900 Active 384 DOM
14. 2026-05-31
    days on market $124,900 Active 383 DOM
15. 2026-05-31
    days on market $124,900 Active 382 DOM
16. 2026-04-17
    price $124,900 640-char remark

    Show marketing remark (640 chars)

    * * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

17. 2026-03-26
    status Active 640-char remark

    Show marketing remark (640 chars)

    * * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

18. 2026-03-02
    status Pending 640-char remark

    Show marketing remark (640 chars)

    * * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

19. 2025-08-29
    price $145,000 640-char remark

    Show marketing remark (640 chars)

    * * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

20. 2025-06-08
    price $155,000 640-char remark

    Show marketing remark (640 chars)

    * * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

21. 2025-04-19
    listed $165,000 Active 640-char remark

    Show marketing remark (640 chars)

    * * * Updates completed MARCH 2026; New Flat Roof, New Water Heater, New Electrical Panel and more * * * Welcome to 3 Fairway Ct in DeLand, FL – a charming 2-bedroom, 1.5 bath condo with additional Florida room located in the peaceful 55+ Fairway Village. This well-kept home offers a bright, open layout with easy, maintenance-free living. Residents enjoy access to a community pool, clubhouse, and beautifully landscaped grounds. Conveniently located near historic downtown DeLand, shopping, dining, and medical facilities. Experience comfort, convenience, and community all in one place – schedule your showing today!

22. 2002-03-23
    soldstatus $41,000

ⓘ 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: $1,790 · $149/mo
• Projected year-2 tax: $1,790 · $149/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 8/10 Severe 6 d/yr ≥107°F today · 17 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: $17,665
• − Mortgage interest: −$6,996
• − Property taxes: −$1,790
• − Insurance: −$624
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − HOA: −$3,000
• − Depreciation: −$3,633
• Taxable loss: −$1,206
• Est. tax savings @ 24.0%: +$289
• After-tax cash flow: $970/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 — DeLand

• Score: 68/100
• State rank: #498
• US rank: #9197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeLand, FL
• County: Volusia County · 556,871 people
• City population: 81,399
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 45,140
• Household income: $73,592
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 942.0

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 19% Two or more races 9% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 14% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -215.80%
• Current HPI: 297.1837
• Rent YoY: ▲ 2.82%
• 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

+204.6% since first listed

7 events — show timeline

• 2026-04-17 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-08-29 Price Changed $145,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-08 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-19 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2002-03-23 Sold (Public Records) $41,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,790 · +5.6% YoY. Source: county tax records.