903 Conrad Dr · New Smyrna Beach, FL 32168

$230,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 386 Days on market

Built 1957 7,500 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 +13.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well maintained 2-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and a Sunroom currently used as the 3rd bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

Key facts

• Enclosed garage
• Fresh paint
• Large backyard

Tags

• LARGE BACKYARD
• SPACIOUS KITCHEN
• FULLY RENOVATED BATHROOM
• NEW FLOORING
• FRESH PAINT
• ENCLOSED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-40 ($-481/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (14.8% below list).
• Recommended offer: $196k (14.8% below list) — sets the bar for 1% rule.

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); 609 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 30% 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 $7k 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 386 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $195,894 (14.8% 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 386 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.85% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.46×
• Total profit: $-34,536
• Equity at exit: $34,294

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-10,487
• Equity at exit: $19,886

Cash invested: $64,400 (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 32168

• Home prices YoY: -27.0%
• Rents YoY: 5.6%
• Active inventory: 609
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,959 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$219 /mo · $2,630/yr
• Insurance: −$96
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-40

Break-even live

Break-even rent $2,010

Max offer price $222,922

Occupancy floor 97%

Sensitivity live

Price	-10% $90	-5% $25	+0% $-40	+5% $-105	+10% $-170
Rent	-10% $-195	-5% $-117	+0% $-40	+5% $37	+10% $115
Rate	-1.0pp $76	-0.5pp $18	base $-40	+0.5pp $-100	+1.0pp $-160

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1007 Conrad Dr New Smyrna Beach, FL	2.0	2.0	1100	$2,400	$2.18	25d	1	0.11mi

Listing history 33 events

1. 2026-06-23
   days on market $230,000 Active 386 DOM
2. 2026-06-22
   days on market $230,000 Active 385 DOM
3. 2026-06-18
   days on market $230,000 Active 382 DOM
4. 2026-06-17
   days on market $230,000 Active 381 DOM
5. 2026-06-16
   days on market $230,000 Active 380 DOM
6. 2026-06-15
   days on market $230,000 Active 379 DOM
7. 2026-06-14
   days on market $230,000 Active 377 DOM
8. 2026-06-10
   days on market $230,000 Active 374 DOM
9. 2026-06-09
   days on market $230,000 Active 373 DOM
10. 2026-06-08
    days on market $230,000 Active 372 DOM
11. 2026-06-07
    days on market $230,000 Active 371 DOM
12. 2026-06-05
    days on market $230,000 Active 368 DOM
13. 2026-06-03
    days on market $230,000 Active 367 DOM
14. 2026-06-03
    days on market $230,000 Active 366 DOM
15. 2026-06-01
    days on market $230,000 Active 365 DOM
16. 2026-05-31
    days on market $230,000 Active 364 DOM
17. 2026-05-31
    days on market $230,000 Active 363 DOM
18. 2026-05-04
    price $230,000 602-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

19. 2026-05-04
    price $230,000 613-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

20. 2025-08-22
    price $245,000 602-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

21. 2025-08-22
    price $245,000 613-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

22. 2025-07-21
    price $249,900 602-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

23. 2025-07-21
    price $249,900 613-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

24. 2025-06-02
    listed $255,000 Active 602-char remark

    Show marketing remark (602 chars)

    This well maintained 2-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and a Sunroom currently used as the 3rd bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

25. 2025-06-01
    listed $255,000 Active 613-char remark

    Show marketing remark (613 chars)

    This well maintained 3-bedroom, 1-bathroom New Smyrna Beach home has a plenty of upgrades, a large backyard and great location. Inside features a spacious kitchen large enough to hold a dining table, a fully renovated bathroom, new flooring, fresh paint and an enclosed garage currently used as the third bedroom, but could also be a studio, office or bonus room. Conveniently located 1-mile to Atlantic Center for the Arts, Swoop Boat Ramp and New Smyrna Beach Sports Complex; 4-miles to Canal Street, 5-miles to Flagler Avenue and the beach and 6-miles to the heart of Port Orange. All measurements approximate.

26. 2022-12-09
    historical
27. 2022-08-29
    soldstatus $169,900 Closed
28. 2022-08-15
    historical Contingent
29. 2022-08-13
    status Pending
30. 2022-08-09
    listed $169,000
31. 2022-08-09
    listed Active
32. 2022-08-01
    listed $169,000 Active
33. 2022-07-26
    soldstatus $100,000

ⓘ 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: $2,630 · $219/mo
• Projected year-2 tax: $2,630 · $219/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 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $23,507
• − Mortgage interest: −$12,884
• − Property taxes: −$2,630
• − Insurance: −$1,948
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$6,691
• Taxable loss: −$4,406
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $577/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 — 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 · 556,871 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: 1139.0

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 (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

+130.0% since first listed

16 events — show timeline

• 2026-05-04 Price Changed $230,000 Daytona MLS
• 2026-05-04 Price Changed $230,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-22 Price Changed $245,000 Daytona MLS
• 2025-08-22 Price Changed $245,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $249,900 Daytona MLS
• 2025-07-21 Price Changed $249,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-02 Listed $255,000 Daytona MLS
• 2025-06-01 Listed $255,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-08-29 Sold (MLS) $169,900 Stellar MLS as Distributed by MLS Grid
• 2022-08-15 Contingent — NSBMLS
• 2022-08-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-08-09 Listed — NSBMLS
• 2022-08-09 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-01 Listed $169,000 Stellar MLS as Distributed by MLS Grid
• 2022-07-26 Sold (Public Records) $100,000 Public Records

Property tax history

+13.1%/yr

Latest (2025): $2,630 · -4.1% YoY. Source: county tax records.