17 Sunset Falls Dr · Ormond Beach, FL 32174

$32,000

2 bd · 20.0 ba · 1,500 sqft · Other · 37 Days on market

Built 1988

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a good little investment property. A manufactured home split into 2 separate units! Has new rood, new water heater, new ac spits on both sides. One side is rented for 1300, the other side is rented for 900. Definitely can be raised when their leases are up. The lot rent is 1345 @moment? Includes internet, cable, garbage, lawn. And all property amenities. Either live on one side and rent other or these tenants I & acirc; & euro; & trade; ll prolly like to reup leases. Definitely could raise rent to one side 1500 and other side 1000/1100

Key facts

• Includes internet
• Manufactured home
• New ac splits

Tags

• MANUFACTURED HOME
• NEW ROOF
• NEW WATER HEATER
• NEW AC SPLITS
• INCLUDES INTERNET
• INCLUDES CABLE

What this means for you Summary

Snapshot

• This is a 2-bed/20.0-bath other listed at $32k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 61.0% vs local median 3.9% 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.
• Market conditions: Rents rising (+1.6%/yr); 985 active listings in the ZIP; 12 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).
• 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 $221 of loan paydown is wiped out by about $960 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 + 1.6% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Recommended offer $31,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.65% ✓
• Cap rate: 61.01%
• Cash-on-cash: 195.40%
• DSCR: 9.69
• GRM: 1.3

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: —
• Equity multiple: 10.48×
• Total profit: $84,900
• Equity at exit: $4,771

10-year hold

• IRR: —
• Equity multiple: 21.34×
• Total profit: $182,250
• Equity at exit: $2,767

Cash invested: $8,960 (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: 985
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $2,127 high
• Mortgage (P&I): −$168
• Tax est. 1.5%: −$40 /mo · $480/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $1,459

Break-even live

Break-even rent $280

Max offer price $32,000

Occupancy floor 26%

Sensitivity live

Price	-10% $1,481	-5% $1,470	+0% $1,459	+5% $1,448	+10% $1,437
Rent	-10% $1,291	-5% $1,375	+0% $1,459	+5% $1,543	+10% $1,627
Rate	-1.0pp $1,475	-0.5pp $1,467	base $1,459	+0.5pp $1,451	+1.0pp $1,442

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Brookwood Dr Ormond Beach, FL	3.0	2.0	1602	$2,500	$1.56	24d	1	0.30mi
1088 W Granada Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	950	$1,570	$1.65	11d	8	0.36mi
51 Brookwood Dr Ormond Beach, FL	3.0	2.0	1791	$2,100	$1.17	24d	1	0.36mi
36 Spring Meadows Dr Ormond Beach, FL	3.0	2.0	2036	$2,700	$1.33	24d	1	0.54mi
35 Magnolia Ave Unit 35 Ormond Beach, FL	2.0	2.0	1300	$1,800	$1.38	24d	1	0.59mi
25 Cherokee Trl Ormond Beach, FL	3.0	3.0	2056	$2,600	$1.26	14d	1	0.61mi
145 Green Forest Dr Ormond Beach, FL	3.0	2.0	1625	$2,200	$1.35	24d	1	0.80mi
162 Pine Cone Trl Ormond Beach, FL	3.0	2.0	1555	$2,100	$1.35	14d	1	0.94mi
7 Stone Haven Trl Ormond Beach, FL	3.0	2.0	1678	$2,200	$1.31	19d	1	1.10mi
559 Cameo Dr Ormond Beach, FL	3.0	2.5	1668	$2,310	$1.38	24d	1	1.22mi
500 Shadow Lakes Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	856	$1,645	$1.92	11d	15	1.23mi
3 Glen Arbor Park Ormond Beach, FL	2.0	1.5	1200	$1,700	$1.42	24d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $32,000 Active 37 DOM
2. 2026-06-17
   days on market $32,000 Active 36 DOM
3. 2026-06-16
   days on market $32,000 Active 35 DOM
4. 2026-06-15
   days on market $32,000 Active 34 DOM
5. 2026-06-14
   days on market $32,000 Active 32 DOM
6. 2026-06-10
   days on market $32,000 Active 29 DOM
7. 2026-06-09
   days on market $32,000 Active 28 DOM
8. 2026-06-08
   days on market $32,000 Active 27 DOM
9. 2026-06-07
   days on market $32,000 Active 26 DOM
10. 2026-06-05
    days on market $32,000 Active 23 DOM
11. 2026-06-03
    days on market $32,000 Active 22 DOM
12. 2026-06-03
    days on market $32,000 Active 21 DOM
13. 2026-06-01
    days on market $32,000 Active 20 DOM
14. 2026-05-31
    days on market $32,000 Active 19 DOM
15. 2026-05-31
    days on market $32,000 Active 18 DOM
16. 2026-05-12
    listed $32,000 Active 542-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: $25,521
• − Mortgage interest: −$1,792
• − Property taxes: −$480
• − Insurance: −$160
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$931
• Taxable income: $18,074
• Est. tax owed @ 24.0%: −$4,338
• After-tax cash flow: $13,170/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 — 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

1 event — show timeline

• 2026-05-12 Listed $32,000 FSBO.com