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35 Ocean Crest Way
F Composite 32.65
Why this score? — see what drove the F 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 +10.0/15.0
  • Schools +6.0/10.0
  • Appreciation +5.0/10.0
  • Condition / age +3.8/5.0
  • Livability +3.5/5.0
  • Rent growth +2.5/5.0
  • 1% rule +1.6/10.0
  • Cash flow +0.4/30.0
  • DSCR +0.0/10.0

$495,000

35 Ocean Crest Way · Palm Coast, FL 32137-5674
3 bd · 2.0 ba · 1,696 sqft · Townhouse · 152 Days on market
Built 2002 Good condition Garage $292/sqft · 6% below area Est $524k · 6% under $1363/mo HOA · 41% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

LENDER OWNED 2 bedroom 2 bathroom Hammock Beach Club, Gorgeous Ground FLoor Unit. Features, Granite countertops, Cherry wood cabinets, Vaulted ceilings, Upgrades Galore. IF CONTRACT PRICE IS LESS THAN $50,000 THE INCENTIVE WILL BE $1,500; IF CONTRACT PRICE IS MORE THAN $50,000 BUT LESS THAN $100,000 THE INCENTIVES ARE $2,000; iF THE CONTRACT PRICE IS MORE THAN $100,000 THE INCENTIVES ARE $2,500.

Key facts

  • Breakfast nook
  • Ample cabinetry
  • Open concept layout

Tags

GATED OCEANFRONT COMMUNITYABUNDANT NATURAL LIGHTOPEN CONCEPT LAYOUTWELL APPOINTED KITCHENAMPLE CABINETRYBREAKFAST NOOK

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.0-bath townhouse listed at $495k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-2k ($-27k/yr) — negative.
  • To cash-flow at today's rent, offer at most $169k (65.9% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (33.6% below list).
  • Recommended offer: $169k (65.9% below list) — sets the bar for cash-flow.
  • Cap rate 1.0% vs local median 3.7% in Palm Coast — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

  • Location reads 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
  • Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
  • Zoned schools: Old Kings Elementary School (math 74% / reading 72%, grade A, #271 of 2,144 statewide, top 13%, 979 students, 52% FRL); Indian Trails Middle School (math 64% / reading 59%, grade B+, #124 of 571 statewide, top 22%, 1,518 students, 50% FRL); Matanzas High School (math 36% / reading 53%, grade F, #237 of 667 statewide, top 36%, 1,978 students, 48% FRL) — zoned schools at 50% FRL track the district average.
  • Market conditions: 1 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 110d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).

Forward outlook

  • In year one you build about $18k of equity ($3k loan paydown + $15k appreciation (3.0% local appreciation)).
  • Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
  • By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

  • It's been on market 152 days — a 12% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
  • 4 sale attempts since 19y 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 $202k; list at $495k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

  • Watch-outs: flood insurance adds $66/mo; HOA is 41% of rent.
  • Climate carrying-cost: severe flood risk; 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 $168,848 (65.9% 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 152 days. Have you received any prior offers? Is the seller open to a 66% 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. 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?
  8. 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.
  9. 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.
  10. 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
0.66% ✗
Cap rate
0.99%
Cash-on-cash
-18.94%
DSCR
0.16
GRM
12.6

CMA / ARV

ARV (median comp)
$523,902
List price
$495,000
Delta
-5.52%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
15 Ocean Crest Way #1315 0.06mi 3/2.0 1,696 (0%) 6mo $350,000 $206 92
5 Ocean Crest Way #1431 0.09mi 3/2.0 1,696 (0%) 6mo $500,000 $295 90
200 Ocean Crest Dr #306 0.13mi 3/3.0 1,676 (-1%) 0mo $646,734 $386 88
200 Ocean Crest Dr #1016 0.13mi 3/3.0 1,676 (-1%) 1mo $795,000 $474 87
200 Ocean Crest Dr #718 0.13mi 3/3.0 1,676 (-1%) 3mo $660,000 $394 86
200 Ocean Crest Dr #317 0.13mi 3/3.0 1,676 (-1%) 4mo $600,000 $358 85
200 Ocean Crest Dr #707 0.13mi 3/3.0 1,676 (-1%) 5mo $725,000 $433 84
200 Ocean Crest Dr #515 0.13mi 3/3.0 1,676 (-1%) 6mo $670,000 $400 83
55 Ocean Crest Way #922 0.05mi 3/2.5 1,859 (+10%) 1mo $677,000 $364 79
700 Cinnamon Beach Way #634 0.61mi 3/2.0 1,682 (-1%) 1mo $750,000 $446 69
1100 Cinnamon Beach Way #1062 0.58mi 3/2.0 1,682 (-1%) 3mo $410,000 $244 69
1000 Cinnamon Beach Way #934 0.63mi 3/2.0 1,682 (-1%) 4mo $449,000 $267 66

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
-10.3%
Equity multiple
0.40×
Total profit
$-82,998
Equity at exit
$222,573
10-year hold
IRR
-4.2%
Equity multiple
0.33×
Total profit
$-92,925
Equity at exit
$343,012

Cash invested: $138,600 (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
38 active · 12 under contract
Months of supply
16.3 mo (6%/mo absorbed)
Median asking
$704,450 ($403/sqft)
Median days on market
153 d
This list price
5% of active listings are priced below it
ARV vs active asking
-23.3% vs current asking $/sqft

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

ZIP-level market 32137-5674

Active inventory
1
Price-to-rent
12.6×

Monthly cashflow live

Estimated rent
$3,286 high interval (Pro) →
Mortgage (P&I)
−$2,596
Tax est. 1.5%
−$619 /mo · $7,425/yr
Insurance
−$206
Flood insurance flood zone
−$66 /mo · $798/yr
HOA
−$1,363
Vacancy / Maint / Mgmt
−$690
Net cashflow
$-2,254

Break-even live

Break-even rent $6,140
Max offer price $168,848
Occupancy floor —

Sensitivity live

Price -10% $-1,912 -5% $-2,083 +0% $-2,254 +5% $-2,425 +10% $-2,596
Rent -10% $-2,514 -5% $-2,384 +0% $-2,254 +5% $-2,124 +10% $-1,994
Rate -1.0pp $-2,005 -0.5pp $-2,128 base $-2,254 +0.5pp $-2,382 +1.0pp $-2,513

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
$123,750
Closing costs
$14,850
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 18 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
35 Ocean Crest Way #1124 Palm Coast, FL 2.0 2.0 1264 $3,500 $2.77 119d 1 0.02mi
200 Ocean Crest Dr #1111 Palm Coast, FL 3.0 3.0 1818 $7,000 $3.85 119d 1 0.12mi
300 Cinnamon Beach Way #233 Palm Coast, FL 3.0 2.0 1344 $3,000 $2.23 62d 1 0.54mi
900 Cinnamon Beach Way Unit 1261621P Palm Coast, FL 3.0 2.0 1689 $8,231 $4.87 119d 1 0.68mi
12 Dawson Dr Palm Coast, FL 3.0 2.0 1392 $2,500 $1.80 119d 1 0.92mi
2 Cheyenne Ct Palm Coast, FL 3.0 2.0 1604 $2,500 $1.56 9d 1 0.94mi
2 Cheyenne Ct Palm Coast, FL 3.0 2.0 1604 $2,500 $1.56 62d 1 0.94mi
58 Comanche Ct Unit 1261614P Palm Coast, FL 3.0 2.0 2195 $5,998 $2.73 107d 1 0.96mi
58 Comanche Ct Palm Coast, FL 3.0 2.0 2142 $3,995 $1.87 9d 1 0.96mi
3 Cherokee Ct W Unit 1261596P Palm Coast, FL 3.0 2.0 2098 $4,582 $2.18 110d 1 1.00mi
27 Mala Compra Rd Unit 1261612P Palm Coast, FL 3.0 2.0 1991 $7,806 $3.92 107d 1 1.00mi
70 Cochise Ct Palm Coast, FL 3.0 2.0 1916 $2,900 $1.51 114d 1 1.10mi
73 Moana Ct N Palm Coast, FL 3.0 2.0 1974 $2,900 $1.47 110d 1 1.27mi
25 Riverview Bnd N Unit 1546088P Palm Coast, FL 3.0 2.0 1819 $2,581 $1.42 110d 1 1.33mi
85 Riverview Bnd N Unit 1524 Palm Coast, FL 3.0 2.0 1800 $4,495 $2.50 9d 1 1.37mi
100 Coral Reef Ct N Unit B Palm Coast, FL 3.0 2.0 1089 $1,565 $1.44 78d 1 1.40mi
45 Riverview Bnd S #1935 Palm Coast, FL 3.0 2.0 1575 $2,000 $1.27 9d 1 1.44mi
22 Bristol Dr Palm Coast, FL 2.0 2.0 1637 $1,975 $1.21 110d 1 1.48mi

Property features AI

Finance

Other
Directions provided to property (community with guarded entrance)
Financial info
No minimum lease term
HOA & community
Monthly HOA feeAssociation/maintenance fee (monthly)Condo fees include cable, exterior maintenance, management, master insurance policy, security, sewer, trash collection, and water

Exterior

Parking
Parking garageGuest parking available
Security
Gated entry with guard gate
Utilities
City waterSewer
Home design
Condominium / unit in multi-story buildingGround-level entryLocated east of A1A
Construction
Concrete block constructionStucco exteriorTile roof
Exterior features
Gated communityBeach accessCommunity-maintained exteriorOther community amenities (see remarks)

Interior

Kitchen
DishwasherDisposalRangeMicrowaveRefrigerator
Bedrooms
Primary bedroom on ground level
Flooring
Tile
Bathrooms
2 bathroomsMaster bath with separate tub and shower
Heating & cooling
Central heating (electric)Central air conditioning (electric)
Interior features
Tile flooringFurnishedWindow treatmentsCeiling fans
Laundry & utility
WasherDryer

Listing history 50 events

  1. 2026-09-24
    days on market $495,000 Active 152 DOM
  2. 2026-09-23
    days on market $495,000 Active 151 DOM
  3. 2026-09-22
    days on market $495,000 Active 150 DOM
  4. 2026-09-21
    days on market $495,000 Active 149 DOM
  5. 2026-09-20
    days on market $495,000 Active 148 DOM
  6. 2026-09-19
    days on market $495,000 Active 147 DOM
  7. 2026-09-18
    days on market $495,000 Active 146 DOM
  8. 2026-09-17
    days on market $495,000 Active 145 DOM
  9. 2026-09-16
    days on market $495,000 Active 144 DOM
  10. 2026-09-15
    days on market $495,000 Active 143 DOM
  11. 2026-09-14
    days on market $495,000 Active 142 DOM
  12. 2026-09-13
    days on market $495,000 Active 141 DOM
  13. 2026-09-12
    days on market $495,000 Active 140 DOM
  14. 2026-09-11
    days on market $495,000 Active 139 DOM
  15. 2026-09-05
    days on market $495,000 Active 133 DOM
  16. 2026-09-04
    days on market $495,000 Active 132 DOM
  17. 2026-09-03
    days on market $495,000 Active 131 DOM
  18. 2026-08-31
    days on market $495,000 Active 128 DOM
  19. 2026-08-30
    days on market $495,000 Active 127 DOM
  20. 2026-08-29
    days on market $495,000 Active 126 DOM
  21. 2026-08-28
    days on market $495,000 Active 125 DOM
  22. 2026-08-27
    days on market $495,000 Active 124 DOM
  23. 2026-08-26
    days on market $495,000 Active 123 DOM
  24. 2026-08-25
    days on market $495,000 Active 122 DOM
  25. 2026-08-24
    days on market $495,000 Active 121 DOM
  26. 2026-08-23
    days on market $495,000 Active 120 DOM
  27. 2026-08-22
    days on market $495,000 Active 119 DOM
  28. 2026-08-21
    days on market $495,000 Active 118 DOM
  29. 2026-08-20
    days on market $495,000 Active 117 DOM
  30. 2026-08-19
    days on market $495,000 Active 116 DOM
  31. 2026-08-18
    days on market $495,000 Active 115 DOM
  32. 2026-08-17
    days on market $495,000 Active 114 DOM
  33. 2026-08-16
    days on market $495,000 Active 113 DOM
  34. 2026-08-15
    days on market $495,000 Active 112 DOM
  35. 2026-08-14
    days on market $495,000 Active 111 DOM
  36. 2026-08-13
    days on market $495,000 Active 110 DOM
  37. 2026-08-12
    days on market $495,000 Active 109 DOM
  38. 2026-08-11
    days on market $495,000 Active 108 DOM
  39. 2026-08-10
    days on market $495,000 Active 107 DOM
  40. 2026-08-09
    days on market $495,000 Active 106 DOM
  41. 2026-08-08
    days on market $495,000 Active 105 DOM
  42. 2026-08-07
    days on market $495,000 Active 104 DOM
  43. 2026-08-06
    days on market $495,000 Active 103 DOM
  44. 2026-08-05
    days on market $495,000 Active 102 DOM
  45. 2026-08-04
    days on market $495,000 Active 101 DOM
  46. 2026-08-03
    days on market $495,000 Active 100 DOM
  47. 2026-07-31
    days on market $495,000 Active 97 DOM
  48. 2026-07-30
    days on market $495,000 Active 96 DOM
  49. 2026-07-30
    days on market $495,000 Active 95 DOM
  50. 2026-07-26
    days on market $495,000 Active 92 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

  • 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
  • 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
  • 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$39,438
− Mortgage interest
−$27,728
− Property taxes
−$7,425
− Insurance
−$3,272
− Repairs & maintenance
−$3,155
− Management
−$3,155
− HOA
−$16,356
− Depreciation
−$14,400
Taxable loss
−$36,053
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$8,653
After-tax cash flow
$-18,395/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 · 6 photos

Good 75/100 Cosmetic rehab Est. rehab $8,480–$25,440 screening

This end-unit condo in Hammock Beach Golf Resort & Spa is in good condition with minimal repairs needed. It offers a great investment opportunity with potential for rental or resale value enhancement through cosmetic updates.

Value-add opportunities

  • Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
  • Both Updating light fixtures — Improves curb appeal and interior ambiance ↑
  • Both Reorganizing living room furniture — Maximizes space and enhances visual appeal ↑

ⓘ 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 60/100

Zoned Schools

Elementary Old Kings Elementary School A FL #271/2,144 Nat'l #2,661/41,679 Middle Indian Trails Middle School B+ FL #124/571 Nat'l #1,620/14,009 High Matanzas High School F FL #237/667 Nat'l #6,890/17,239

Schools (NCES district)

District
Flagler
NCES district ID
1200540
Math proficiency
53% ▼ -9.00%
Reading proficiency
56% ▼ -4.00%
Median HH income
$48,354
Composite
46.35/100
National rank
#2464
State rank
#20 of 73 in FL
C Composite livability gradescore 69/100

Livability — Palm Coast

Score
69/100
State rank
#478
US rank
#8721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Population outlook (Flagler County) Hauer SSP2

Today (2025)
123,474 people
By 2030
131,864 · +6.8%
By 2040
146,176 · +18.4%
By 2050
157,398 · +27.5%
By 2075
177,990 · +44.2%
By 2100
183,381 · +48.5%

Not yet ingested

Political lean
—
Race & ethnicity
—
Common origin
—
Civics
—

Price history

+3.1% since first listed
7 events — show timeline
  • 2026-04-24 Listed $495,000 St. Augustine and St. Johns County Board of REALTORS®
  • 2015-04-02 Listed $175,000 Stellar MLS as Distributed by MLS Grid
  • 2015-04-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
  • 2009-10-08 Sold (MLS) $202,000 Stellar MLS as Distributed by MLS Grid
  • 2009-05-01 Listed $205,000 Stellar MLS as Distributed by MLS Grid
  • 2007-07-05 Sold (MLS) $447,500 Stellar MLS as Distributed by MLS Grid
  • 2007-03-22 Listed $479,900 Stellar MLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…