1114 Parkside Dr · Ormond Beach, FL 32174

$375,000

3 bd · 2.0 ba · 1,625 sqft · SingleFamily public records · 17 Days on market

Built 1978 8,276 sqft lot

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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 +12.6/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• DSCR +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* TAKING BACK-UP CONTRACTS * VACANT ON MULTACC * EAT-IN KITCHEN. FAMILY ROOM. TILED BATHS. LARGE SCREENED PORCH. INSIDE LAUNDRY ROOM. 2 CAR GARAGE. WELL PUMP AND SPRINKLERS ON TIMER. NEW A/C COMPRESSOR. * VACANT ON MULTACC *

Key facts

• Laundry room
• Granite countertops
• Breakfast bar

Tags

• PECAN ENGINEERED WOOD FLOORING
• GRANITE COUNTERTOPS
• BREAKFAST BAR
• LAUNDRY ROOM
• UPDATED OWNERS SUITE BATH
• REVERSE OSMOSIS SYSTEM

Property features AI

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Public water; Cable available and connected; Electricity connected; Water connected
• Home design: Single-family residence; One story
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Rear screened porch; Fenced yard

Interior

• Kitchen: Refrigerator; Electric range/oven; Dishwasher
• Bedrooms: Total rooms: 6
• Flooring: Hardwood; Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Breakfast bar; Ceiling fans; Eat-in kitchen; Unfurnished
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-47 ($-569/yr) — negative.
• To cash-flow at today's rent, offer at most $367k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (26.2% below list).
• Recommended offer: $277k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 9 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).
• At $2,768/mo this rent would consume 47% of the median local household income ($71k/yr) (locally 1158% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 17 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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 $99k; list at $375k implies a 279% 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 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $276,780 (26.2% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 11.3

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: -18.6%
• Equity multiple: 0.36×
• Total profit: $-67,700
• Equity at exit: $55,914

10-year hold

• IRR: -13.6%
• Equity multiple: 0.25×
• Total profit: $-78,484
• Equity at exit: $32,423

Cash invested: $105,000 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,768 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $-47

Break-even live

Break-even rent $2,828

Max offer price $366,625

Occupancy floor 97%

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Brooks Dr Ormond Beach, FL	3.0	2.0	1204	$2,195	$1.82	21d	1	0.85mi
157 Longwood Dr Unit 1545681P Ormond Beach, FL	2.0	2.0	1280	$4,032	$3.15	14d	1	0.93mi
23 Hibiscus Dr Ormond Beach, FL	2.0	1.5	1350	$1,795	$1.33	23d	1	1.13mi
8 Tropical Dr Unit 1546317P Ormond Beach, FL	2.0	1.0	1248	$3,902	$3.13	14d	1	1.13mi
1133 Ocean Shore Blvd #702 Ormond Beach, FL	2.0	2.0	1065	$3,250	$3.05	23d	1	1.23mi
1633 John Anderson Dr Ormond Beach, FL	2.0	1.0	1356	$2,250	$1.66	23d	1	1.27mi
915 Ocean Shore Blvd Apt 701 Ormond Beach, FL	2.0	2.0	1175	$3,000	$2.55	23d	1	1.32mi
1415 Ocean Shore Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	1031	$2,500	$2.42	14d	1	1.38mi
1513 Ocean Shore Blvd Unit C2 Ormond Beach, FL	2.0	2.0	1484	$3,100	$2.09	23d	1	1.48mi

Listing history 6 events

1. 2026-05-11
   listed $375,000 Active 1073-char remark
2. 1999-02-15
   soldstatus $99,000
3. 1999-02-10
   soldstatus $99,000 231-char remark

   Show marketing remark (231 chars)

   * TAKING BACK-UP CONTRACTS * VACANT ON MULTACC * EAT-IN KITCHEN. FAMILY ROOM. TILED BATHS. LARGE SCREENED PORCH. INSIDE LAUNDRY ROOM. 2 CAR GARAGE. WELL PUMP AND SPRINKLERS ON TIMER. NEW A/C COMPRESSOR. * VACANT ON MULTACC *

4. 1998-09-12
   listed $104,900 231-char remark

   Show marketing remark (231 chars)

   * TAKING BACK-UP CONTRACTS * VACANT ON MULTACC * EAT-IN KITCHEN. FAMILY ROOM. TILED BATHS. LARGE SCREENED PORCH. INSIDE LAUNDRY ROOM. 2 CAR GARAGE. WELL PUMP AND SPRINKLERS ON TIMER. NEW A/C COMPRESSOR. * VACANT ON MULTACC *

5. 1995-05-31
   soldstatus $95,000
6. 1995-04-07
   soldstatus $90,000

ⓘ 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: $1,334 · $111/mo
• Projected year-2 tax: $3,112 · $259/mo
• Expected delta: +$1,778/yr (+$148/mo · 133.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,214
• − Mortgage interest: −$21,006
• − Property taxes: −$1,334
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,657
• − Management: −$2,657
• − Depreciation: −$10,909
• Taxable loss: −$7,225
• Est. tax savings @ 24.0%: +$1,734
• After-tax cash flow: $1,165/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

+316.7% since first listed

7 events — show timeline

• 2026-05-28 Pending — Daytona MLS
• 2026-05-11 Listed $375,000 Daytona MLS
• 1999-02-15 Sold (Public Records) $99,000 Public Records
• 1999-02-10 Sold (MLS) $99,000 Daytona MLS
• 1998-09-12 Listed $104,900 Daytona MLS
• 1995-05-31 Sold (Public Records) $95,000 Public Records
• 1995-04-07 Sold (Public Records) $90,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,334 · +4.7% YoY. Source: county tax records.