2937 Meleto Blvd · New Smyrna Beach, FL 32168

$315,000

4 bd · 2.5 ba · 2,063 sqft · SingleFamily public records · 291 Days on market

Built 2020 Good condition 4,320 sqft lot $153/sqft · 13% below area Est $364k · 13% under $265/mo HOA · 9% of rent

---

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).

• ARV discount +13.6/15.0
• Cash flow +9.8/30.0
• Schools +5.1/10.0
• 1% rule +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• DSCR +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Short Sale. SHORT SALE - Lien holder has completed appraisal and they are ready to negotiate based on the listing price. This stylish modern home features a thoughtfully designed open kitchen paired with a private dining area. Throughout the home, you'll find elegant plantation shutters and a mix of ceramic tile, luxury vinyl plank, and soft natural taupe carpeting. The kitchen offers Espresso cabinetry, granite countertops, upgraded lighting, and generous storage options, including a walk-in pantry and under-stair storage. The primary suite boasts a large walk-in closet and dual vanities for added convenience. The garage stands out with polished floors, giving it a sleek, showroom-like appearance. Built in 2020, the home includes multiple energy-efficient features. Located just minutes from one of Central Florida’s most desirable beach towns, The Palms at Venetian Bay offers access to scenic nature trails and a variety of community amenities. These include the Venetian Bay Swim Club, Town Center, and a championship golf course with an inviting clubhouse. Residents also enjoy a vibrant calendar of community events, recreational activities, and a selection of local dining and shopping options perfect for the whole family.

Key facts

• Under-stair storage
• Plantation shutters
• Private dining area

Tags

• OPEN KITCHEN
• PRIVATE DINING AREA
• PLANTATION SHUTTERS
• WALK-IN PANTRY
• UNDER-STAIR STORAGE
• LARGE WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $315k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-328 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (8.4% below list).
• Recommended offer: $257k (18.4% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.8% in New Smyrna 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 69/100 on livability (#474 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety 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: Chisholm Elementary School (math 72% / reading 63%, grade B+, #435 of 2,144 statewide, top 21%, 491 students, 47% 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 47% FRL track the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 695 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 45% of the median local income ($77k/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 $2k of loan paydown is wiped out by about $9k 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 291 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 6y ago 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 $269k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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.

Recommended offer $257,011 (18.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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 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: 0.92% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 9.1

CMA / ARV

• ARV (median comp): $364,000
• List price: $315,000
• Delta: -13.46%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3004 Borassus Dr	0.53mi	4/3.0	2,115 (+2%)	0mo	$558,000	$264	69
3455 Pegaso Ave	0.57mi	3/2.0 (-1)	2,174 (+5%)	0mo	$412,500	$190	57
2816 Neverland Dr	1.83mi	4/3.0	2,185 (+6%)	0mo	$390,000	$178	53
3431 Torre Blvd	1.03mi	2/2.0 (-2)	1,973 (-4%)	0mo	$426,400	$216	46
211 Caryota Ct	0.50mi	3/2.0 (-1)	1,614 (-22%)	0mo	$379,000	$235	44
2820 S Asciano Ct	0.89mi	3/3.0 (-1)	2,314 (+12%)	0mo	$782,000	$338	38
3321 Pintello Ave	0.77mi	3/2.0 (-1)	1,492 (-28%)	0mo	$364,000	$244	33
3022 Neverland Dr	2.09mi	3/2.0 (-1)	1,643 (-20%)	0mo	$313,000	$191	33

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 · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.28×
• Total profit: $-63,894
• Equity at exit: $46,968

10-year hold

• IRR: -7.5%
• Equity multiple: 0.46×
• Total profit: $-47,771
• Equity at exit: $27,235

Cash invested: $88,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 34 active · 22 under contract
• Months of supply: 51.0 mo (2%/mo absorbed)
• Median asking: $449,745 ($211/sqft)
• Median days on market: 84 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -16.6% vs current asking $/sqft

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

ZIP-level market 32168

• Home prices YoY: -27.0%
• Rents YoY: 5.6%
• Active inventory: 695
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,887 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$435 /mo · $5,225/yr
• Insurance: −$131
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$265
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $-328

Break-even live

Break-even rent $3,302

Max offer price $257,011

Occupancy floor —

Sensitivity live

Price	-10% $-150	-5% $-239	+0% $-328	+5% $-417	+10% $-507
Rent	-10% $-556	-5% $-442	+0% $-328	+5% $-214	+10% $-100
Rate	-1.0pp $-170	-0.5pp $-248	base $-328	+0.5pp $-410	+1.0pp $-493

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: $78,750
• Closing costs: $9,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 Venetian Palms Blvd New Smyrna Beach, FL	3.0	2.5	1758	$2,300	$1.31	72d	1	0.17mi
3036 Meleto Blvd New Smyrna Beach, FL	3.0	2.5	1672	$3,000	$1.79	72d	1	0.17mi
3109 King Palm Dr New Smyrna Beach, FL	3.0	2.0	1519	$2,099	$1.38	32d	1	0.20mi
524 Venetian Palms Blvd New Smyrna Beach, FL	3.0	2.5	2070	$2,700	$1.30	72d	1	0.22mi
3062 Isles Way New Smyrna Beach, FL	4.0	2.5	2092	$4,000	$1.91	16d	1	0.45mi
3451 Medici Blvd New Smyrna Beach, FL	4.0	3.5	2372	$2,800	$1.18	63d	1	0.78mi
434 Luna Bella Ln New Smyrna Beach, FL	1.0–3.0	1.0–2.0	1033	$2,459	$2.38	15d	11	0.98mi

Listing history 50 events

1. 2026-08-08
   days on market $315,000 Active 291 DOM
2. 2026-08-07
   days on market $315,000 Active 290 DOM
3. 2026-08-06
   days on market $315,000 Active 289 DOM
4. 2026-08-05
   days on market $315,000 Active 288 DOM
5. 2026-08-04
   days on market $315,000 Active 287 DOM
6. 2026-08-03
   days on market $315,000 Active 286 DOM
7. 2026-07-31
   days on market $315,000 Active 283 DOM
8. 2026-07-30
   days on market $315,000 Active 281 DOM
9. 2026-07-28
   days on market $315,000 Active 280 DOM
10. 2026-07-26
    days on market $315,000 Active 278 DOM
11. 2026-07-25
    days on market $315,000 Active 277 DOM
12. 2026-07-24
    days on market $315,000 Active 276 DOM
13. 2026-07-23
    days on market $315,000 Active 275 DOM
14. 2026-07-22
    days on market $315,000 Active 274 DOM
15. 2026-07-21
    days on market $315,000 Active 273 DOM
16. 2026-07-16
    days on market $315,000 Active 268 DOM
17. 2026-07-16
    days on market $315,000 Active 267 DOM
18. 2026-07-14
    days on market $315,000 Active 266 DOM
19. 2026-07-14
    days on market $315,000 Active 265 DOM
20. 2026-07-12
    days on market $315,000 Active 264 DOM
21. 2026-07-11
    days on market $315,000 Active 263 DOM
22. 2026-07-10
    days on market $315,000 Active 262 DOM
23. 2026-07-09
    days on market $315,000 Active 261 DOM
24. 2026-07-07
    days on market $315,000 Active 259 DOM
25. 2026-07-06
    days on market $315,000 Active 258 DOM
26. 2026-07-05
    days on market $315,000 Active 257 DOM
27. 2026-07-03
    days on market $315,000 Active 255 DOM
28. 2026-07-01
    days on market $315,000 Active 253 DOM
29. 2026-06-30
    days on market $315,000 Active 252 DOM
30. 2026-06-29
    days on market $315,000 Active 251 DOM
31. 2026-06-28
    days on market $315,000 Active 250 DOM
32. 2026-06-28
    days on market $315,000 Active 249 DOM
33. 2026-06-27
    days on market $315,000 Active 248 DOM
34. 2026-06-25
    days on market $315,000 Active 246 DOM
35. 2026-06-23
    days on market $315,000 Active 244 DOM
36. 2026-06-22
    days on market $315,000 Active 243 DOM
37. 2026-06-18
    days on market $315,000 Active 240 DOM
38. 2026-06-17
    days on market $315,000 Active 239 DOM
39. 2026-06-16
    days on market $315,000 Active 238 DOM
40. 2026-06-15
    days on market $315,000 Active 237 DOM
41. 2026-06-14
    days on market $315,000 Active 235 DOM
42. 2026-06-10
    days on market $315,000 Active 232 DOM
43. 2026-06-09
    days on market $315,000 Active 231 DOM
44. 2026-06-08
    days on market $315,000 Active 230 DOM
45. 2026-06-07
    days on market $315,000 Active 229 DOM
46. 2026-06-05
    days on market $315,000 Active 226 DOM
47. 2026-06-03
    pricedays on market $315,000 Active 225 DOM
48. 2026-06-03
    days on market $330,000 Active 224 DOM
49. 2026-06-01
    days on market $330,000 Active 223 DOM
50. 2026-05-31
    days on market $330,000 Active 222 DOM

ⓘ 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: $5,225 · $435/mo
• Projected year-2 tax: $5,225 · $435/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,640
• − Mortgage interest: −$17,645
• − Property taxes: −$5,225
• − Insurance: −$3,078
• − Repairs & maintenance: −$2,771
• − Management: −$2,771
• − HOA: −$3,180
• − Depreciation: −$9,164
• Taxable loss: −$9,193
• Est. tax savings @ 24.0%: +$2,206
• After-tax cash flow: $-1,733/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

Good 80/100 Cosmetic rehab Est. rehab $10,315–$30,945 screening

This modern single-family home is in good condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics. The property is move-in ready and has the potential for significant value increases with minor improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the kitchen and bathrooms — Modern flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality. ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract more potential buyers/tenants. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Chisholm Elementary School B+ FL #435/2,144 Nat'l #4,272/41,679 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

C Composite livability gradescore 69/100

Livability — New Smyrna Beach

• Score: 69/100
• State rank: #474
• US rank: #8577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Smyrna Beach, FL
• County: Volusia County · 572,749 people
• City population: 42,039
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 31,847
• Household income: $77,083
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 14% of renters

---

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -129.58%
• Current HPI: 350.4259
• Rent YoY: ▲ 5.60%
• 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

-99.5% since first listed

46 events — show timeline

• 2026-02-09 Rental Removed $2,400 STELLARMLS
• 2026-02-08 Price Changed $330,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-21 Listed $315,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-04 Listed for Rent $2,400 STELLARMLS
• 2025-09-03 Rental Removed $2,400 STELLARMLS
• 2025-08-25 Listed for Rent $2,400 STELLARMLS
• 2025-05-22 Rental Removed $2,400 STELLARMLS
• 2025-05-14 Listed for Rent $2,400 STELLARMLS
• 2025-04-12 Rental Removed $2,400 STELLARMLS
• 2025-04-08 Listed for Rent $2,400 STELLARMLS
• 2025-03-12 Rental Removed $2,400 STELLARMLS
• 2025-03-01 Listed for Rent $2,400 STELLARMLS
• 2025-01-29 Rental Removed $2,600 STELLARMLS
• 2024-12-03 Listed for Rent $3,600 STELLARMLS
• 2024-11-21 Rental Removed $3,600 STELLARMLS
• 2024-11-13 Listed for Rent $3,600 STELLARMLS
• 2024-11-07 Rental Removed $2,600 STELLARMLS
• 2024-06-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-04-26 Listed for Rent $2,600 STELLARMLS
• 2024-04-08 Price Changed $395,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-18 Price Changed $399,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-04 Price Changed $405,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-12 Price Changed $434,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-16 Price Changed $435,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-27 Listed $460,000 Stellar MLS as Distributed by MLS Grid
• 2022-04-08 Price Changed $2,695 RENT.
• 2021-01-29 Sold (Public Records) $269,292 Public Records
• 2021-01-28 Sold (MLS) $269,292 NSBMLS
• 2021-01-28 Sold (MLS) $269,292 Stellar MLS as Distributed by MLS Grid
• 2021-01-28 Sold (MLS) $269,292 Daytona MLS
• 2021-01-28 Sold (MLS) $269,292 Stellar MLS as Distributed by MLS Grid
• 2021-01-08 Contingent — NSBMLS
• 2021-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-11-05 Price Changed $277,620 NSBMLS
• 2020-11-03 Price Changed $277,620 Stellar MLS as Distributed by MLS Grid
• 2020-11-02 Price Changed $277,620 Daytona MLS
• 2020-11-02 Price Changed $2,747,620 NSBMLS
• 2020-10-26 Listed $274,620 Daytona MLS
• 2020-10-21 Price Changed $274,620 Stellar MLS as Distributed by MLS Grid
• 2020-10-21 Price Changed $274,620 NSBMLS
• 2020-09-22 Price Changed $271,620 NSBMLS
• 2020-09-22 Price Changed $271,620 Stellar MLS as Distributed by MLS Grid
• 2020-09-02 Listed $266,620 NSBMLS
• 2020-09-02 Listed $277,620 Stellar MLS as Distributed by MLS Grid
• 2020-09-02 Listed $266,620 Stellar MLS as Distributed by MLS Grid
• 2020-07-29 Sold (Public Records) $504,000 Public Records

Property tax history

+56.2%/yr

Latest (2025): $5,225 · -7.8% YoY. Source: county tax records.