1681 Spring Garden Ct S · Holly Hill, FL 32117

$155,000

2 bd · 2.0 ba · 888 sqft · Condo public records · 72 Days on market

Built 1990 $275/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 +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cute condo is located in a gated community set back from the street surrounded by large trees and foliage. It is quiet and peaceful. The 2 bedroom condo is tastefully decorated with upgraded kitchen and baths. Lots of closets and storage space. In the back is a large deck overlooking the trees and foliage. The living room is very large at 20 x 18. The kitchen and living room is a great open floor plan. The primary bedroom has an en-suite with large closet, and access to the deck. This is a great floor plan and located on the 2nd floor. There is no elevator. Plenty of parking. This is one of the lowest maintenance fees around.

Key facts

• $275 HOA
• Built 1990
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $7 ($85/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#325 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, 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 (+1.0%/yr); 332 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 34% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $5k 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 72 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $132k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.05% ✓
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.01% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-27,697
• Equity at exit: $23,111

10-year hold

• IRR: -16.3%
• Equity multiple: 0.18×
• Total profit: $-35,476
• Equity at exit: $13,402

Cash invested: $43,400 (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 32117

• Home prices YoY: -8.2%
• Rents YoY: 1.0%
• Active inventory: 332
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$813
• Tax from tax record: −$120 /mo · $1,446/yr
• Insurance: −$65
• HOA: −$275
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $7

Break-even live

Break-even rent $1,611

Max offer price $155,000

Occupancy floor 95%

Sensitivity live

Price	-10% $95	-5% $51	+0% $7	+5% $-37	+10% $-81
Rent	-10% $-121	-5% $-57	+0% $7	+5% $71	+10% $135
Rate	-1.0pp $85	-0.5pp $47	base $7	+0.5pp $-33	+1.0pp $-74

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1707 Evergreen St Ormond Beach, FL	2.0	1.0	868	$1,750	$2.02	24d	1	0.25mi
1559 Hammock Dr Unit B Holly Hill, FL	2.0	1.5	1100	$1,375	$1.25	15d	1	0.26mi
1563 Hancock Ln Daytona Beach, FL	2.0	2.0	912	$1,475	$1.62	12d	1	0.29mi
946 15th St Daytona Beach, FL	2.0	2.0	1010	$1,500	$1.49	24d	1	0.36mi
1615 Derbyshire Rd Daytona Beach, FL	3.0	1.5	1000	$1,950	$1.95	15d	1	0.45mi
900 LPGA Blvd Daytona Beach, FL	1.0–2.0	1.0–2.0	885	$1,495	$1.69	15d	14	0.70mi
638 LPGA Blvd Unit B Daytona Beach, FL	3.0	2.0	1111	$2,490	$2.24	24d	1	0.94mi
101 Claysburg LN Holly Hill, FL	1.0–3.0	1.0–2.0	1163	$2,322	$2.00	15d	25	1.06mi
100 Windflower LN Daytona Beach, FL	1.0–3.0	1.0–2.0	1021	$2,014	$1.97	12d	63	1.06mi
1540 Espanola Ave Unit 9 Daytona Beach, FL	1.0	1.0	600	$900	$1.50	24d	1	1.11mi
1290 9th St #106 Daytona Beach, FL	1.0	1.0	608	$1,195	$1.97	15d	1	1.28mi
1290 9th St Daytona Beach, FL	1.0	1.0	608	$1,060	$1.74	24d	3	1.28mi
840 Center Ave Apt 75 Holly Hill, FL	2.0	1.0	900	$1,250	$1.39	24d	1	1.33mi
1600 Lpga Blvd Daytona Beach, FL	1.0–3.0	1.0–2.0	1045	$2,065	$1.98	12d	21	1.33mi
660 8th St Daytona Beach, FL	2.0	1.0	900	$1,375	$1.53	24d	1	1.35mi
410 Sauls St Ormond Beach, FL	3.0	1.0	990	$1,500	$1.52	24d	1	1.35mi
1355 Hiawatha Ave Daytona Beach, FL	2.0	1.0	780	$1,675	$2.15	15d	1	1.39mi
1521 Moravia Ave Daytona Beach, FL	2.0	2.0	700	$2,000	$2.86	20d	1	1.48mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $155,000 Active 72 DOM
2. 2026-06-17
   days on market $155,000 Active 71 DOM
3. 2026-06-16
   days on market $155,000 Active 70 DOM
4. 2026-06-15
   days on market $155,000 Active 69 DOM
5. 2026-06-14
   days on market $155,000 Active 67 DOM
6. 2026-06-10
   days on market $155,000 Active 64 DOM
7. 2026-06-09
   days on market $155,000 Active 63 DOM
8. 2026-06-08
   days on market $155,000 Active 62 DOM
9. 2026-06-07
   days on market $155,000 Active 61 DOM
10. 2026-06-05
    days on market $155,000 Active 58 DOM
11. 2026-06-03
    days on market $155,000 Active 57 DOM
12. 2026-06-03
    days on market $155,000 Active 56 DOM
13. 2026-06-01
    days on market $155,000 Active 55 DOM
14. 2026-05-31
    days on market $155,000 Active 54 DOM
15. 2026-05-31
    days on market $155,000 Active 53 DOM
16. 2026-04-07
    listed $160,000 Active 640-char remark

    Show marketing remark (640 chars)

    This cute condo is located in a gated community set back from the street surrounded by large trees and foliage. It is quiet and peaceful. The 2 bedroom condo is tastefully decorated with upgraded kitchen and baths. Lots of closets and storage space. In the back is a large deck overlooking the trees and foliage. The living room is very large at 20 x 18. The kitchen and living room is a great open floor plan. The primary bedroom has an en-suite with large closet, and access to the deck. This is a great floor plan and located on the 2nd floor. There is no elevator. Plenty of parking. This is one of the lowest maintenance fees around.

17. 2023-06-28
    soldstatus $132,500
18. 2023-06-26
    historical 520-char remark

    Show marketing remark (520 chars)

    Welcome to this 2 bedroom, 2 bathroom condo in this gated community. This second floor end unit provides plenty of privacy surrounded by mature trees with beautiful views from balcony off of the master suite for relaxing. Updated with stainless steel appliances and granite countertops in the kitchen. Vaulted ceiling in the living room provides an open feel! Inside laundry room for your convenience, and close to many amenities - hospitals, shopping, colleges, restaurants and the airport, minutes from Daytona Beach.

19. 2023-06-23
    soldstatus $132,500 Closed 520-char remark

    Show marketing remark (520 chars)

    Welcome to this 2 bedroom, 2 bathroom condo in this gated community. This second floor end unit provides plenty of privacy surrounded by mature trees with beautiful views from balcony off of the master suite for relaxing. Updated with stainless steel appliances and granite countertops in the kitchen. Vaulted ceiling in the living room provides an open feel! Inside laundry room for your convenience, and close to many amenities - hospitals, shopping, colleges, restaurants and the airport, minutes from Daytona Beach.

20. 2023-05-15
    historical Contingent 520-char remark

    Show marketing remark (520 chars)

    Welcome to this 2 bedroom, 2 bathroom condo in this gated community. This second floor end unit provides plenty of privacy surrounded by mature trees with beautiful views from balcony off of the master suite for relaxing. Updated with stainless steel appliances and granite countertops in the kitchen. Vaulted ceiling in the living room provides an open feel! Inside laundry room for your convenience, and close to many amenities - hospitals, shopping, colleges, restaurants and the airport, minutes from Daytona Beach.

21. 2023-05-12
    listed $135,000 Active 520-char remark

    Show marketing remark (520 chars)

    Welcome to this 2 bedroom, 2 bathroom condo in this gated community. This second floor end unit provides plenty of privacy surrounded by mature trees with beautiful views from balcony off of the master suite for relaxing. Updated with stainless steel appliances and granite countertops in the kitchen. Vaulted ceiling in the living room provides an open feel! Inside laundry room for your convenience, and close to many amenities - hospitals, shopping, colleges, restaurants and the airport, minutes from Daytona Beach.

22. 2016-05-31
    soldstatus $70,100
23. 2012-06-22
    listed $39,900

ⓘ 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: $1,446 · $120/mo
• Projected year-2 tax: $1,446 · $120/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,443
• − Mortgage interest: −$8,682
• − Property taxes: −$1,446
• − Insurance: −$775
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − HOA: −$3,300
• − Depreciation: −$4,509
• Taxable loss: −$2,380
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $656/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 — Holly Hill

• Score: 72/100
• State rank: #325
• US rank: #5737

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holly Hill, FL
• County: Volusia County · 556,871 people
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 30,955
• Household income: $56,419
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1781.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 27% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 86% English-only · Spanish 8% Vietnamese 1% 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: ▼ -96.62%
• Current HPI: 1084.54
• Rent YoY: ▲ 1.01%
• 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

+301.0% since first listed

8 events — show timeline

• 2026-04-07 Listed $160,000 Daytona MLS
• 2023-06-28 Sold (Public Records) $132,500 Public Records
• 2023-06-26 Listing Removed — Daytona MLS
• 2023-06-23 Sold (MLS) $132,500 Daytona MLS
• 2023-05-15 Contingent — Daytona MLS
• 2023-05-12 Listed $135,000 Daytona MLS
• 2016-05-31 Sold (Public Records) $70,100 Public Records
• 2012-06-22 Listed $39,900 Daytona MLS

Property tax history

+6.6%/yr

Latest (2025): $1,446 · +3.5% YoY. Source: county tax records.