2200 S Palmetto Ave Unit b040 · South Daytona, FL 32119

$130,900

2 bd · 1.5 ba · 1,122 sqft · Condo public records · 43 Days on market

Built 1975 $420/mo HOA · 26% 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 +13.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this beautifully renovated condominium, 2 bedrooms 1.5 Bath , perfectly located near shopping, dining, and convenient public transportation. Filled with abundant natural light, the space feels bright and inviting from the moment you enter. Enjoy seamless indoor-outdoor living with a brand-new, impact-rated sliding glass door--ideal for entertaining guests or simply relaxing in comfort. The open layout enhances the flow of the home, making it perfect for both everyday living and hosting. Whether you're looking for a primary residence or an investment opportunity, this property offers excellent income potential as a rental. Residents also benefit from public access to the Intracoast

Key facts

• Open layout
• $420 HOA
• 2 parking spots

Tags

• RENOVATED CONDOMINIUM
• OPEN LAYOUT

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $420; Community amenities include pool, trash service, and water; HOA fee covers insurance, grounds maintenance, pest control, sewer, trash, and water

Exterior

• Parking: Assigned carport; 2 carport spaces
• Security: Accessible entrance and accessible common areas
• Utilities: Public water; Public sewer; Cable available; Water connected
• Home design: Residential condominium; Two-story
• Construction: Other construction materials; Other roof type
• Exterior features: Patio; Rear porch; Fenced yard; Other exterior features; Other outbuildings/structures; Has a view

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Dishwasher
• Bedrooms: Total rooms: 5
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Ceiling fans; Open floor plan; Pantry; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $131k.

Deal economics

• At list price, monthly cash flow is $-53 ($-641/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (7.2% below list).
• Meets the 1% rule at list price ($2k rent vs $131k).
• Recommended offer: $121k (7.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 80/100 on livability (#114 in FL, #1,755 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, employment D, 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 soft (-2.0%/yr); 280 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($57k/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 $905 of loan paydown is wiped out by about $4k 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 43 days — a 3% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 5 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 $92k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 26% 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 $121,468 (7.2% 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. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 1.24% ✓
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.1%
• Equity multiple: 0.21×
• Total profit: $-29,086
• Equity at exit: $19,518

10-year hold

• IRR: -42.2%
• Equity multiple: -0.28×
• Total profit: $-46,939
• Equity at exit: $11,318

Cash invested: $36,652 (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 32119

• Rents YoY: -2.0%
• Active inventory: 280
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,626 high
• Mortgage (P&I): −$686
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$55
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$420
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-53

Break-even live

Break-even rent $1,693

Max offer price $121,468

Occupancy floor 98%

Sensitivity live

Price	-10% $21	-5% $-16	+0% $-53	+5% $-90	+10% $-127
Rent	-10% $-182	-5% $-118	+0% $-53	+5% $11	+10% $75
Rate	-1.0pp $13	-0.5pp $-20	base $-53	+0.5pp $-87	+1.0pp $-122

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: $32,725
• Closing costs: $3,927
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2250 S Palmetto Ave South Daytona, FL	2.0	2.5	1386	$1,600	$1.15	24d	1	0.09mi
2275 Granada Dr Unit 1 South Daytona, FL	2.0	2.0	1000	$1,600	$1.60	24d	1	0.13mi
2140 S Palmetto Ave South Daytona, FL	2.0	1.5	1100	$1,499	$1.36	24d	1	0.13mi
301 Ridge Blvd #1020 South Daytona, FL	2.0	1.0	810	$1,375	$1.70	24d	1	0.21mi
2050 S Ridgewood Ave South Daytona, FL	1.0–2.0	1.0–1.5	818	$1,450	$1.77	24d	1	0.26mi
1910 S Palmetto Ave South Daytona, FL	1.0	1.0	750	$1,195	$1.59	24d	1	0.47mi
201 Kost Rd South Daytona, FL	2.0	1.0	850	$1,149	$1.35	12d	2	0.51mi
205 Kost Rd South Daytona, FL	2.0	1.0	850	$1,500	$1.76	24d	1	0.51mi
1888 S Palmetto Ave South Daytona, FL	2.0	1.0	850	$1,199	$1.41	24d	1	0.54mi
1830 S Palmetto Ave Unit 4 South Daytona, FL	2.0	1.0	900	$1,450	$1.61	24d	1	0.60mi
535 Olive St South Daytona, FL	2.0	1.0	1024	$1,725	$1.68	12d	1	0.62mi
580 Reed Canal Rd South Daytona, FL	1.0	1.0	718	$1,272	$1.77	15d	2	0.70mi
480 Reed Canal Rd #57 South Daytona, FL	2.0	1.5	1024	$1,550	$1.51	24d	1	0.77mi
1739 Eastern Rd South Daytona, FL	1.0	1.0	800	$1,099	$1.37	15d	1	0.87mi
1620 S Palmetto Ave South Daytona, FL	1.0	1.0	750	$1,195	$1.59	24d	1	0.96mi
1620 S Palmetto Ave Unit 206 South Daytona, FL	2.0	1.0	850	$1,295	$1.52	22d	1	0.96mi
793 Aspen Dr South Daytona, FL	2.0	2.0	1300	$1,940	$1.49	24d	1	1.02mi
268 Florida Shores Blvd #268 Daytona Beach Shores, FL	2.0	2.5	1428	$2,250	$1.58	24d	1	1.08mi
700 Northern Rd Unit 728 South Daytona, FL	1.0	1.0	774	$1,240	$1.60	24d	1	1.18mi
900 Boulder Dr South Daytona, FL	2.0	1.0	939	$1,850	$1.97	24d	1	1.19mi
716 Boston Ave South Daytona, FL	2.0	2.0	1373	$2,100	$1.53	15d	1	1.19mi
1 Oceans West Blvd Unit 6B1 Daytona Beach, FL	2.0	2.0	1265	$2,300	$1.82	24d	1	1.20mi
1 Oceans West Blvd Unit 4B5 Daytona Beach, FL	2.0	2.0	1327	$2,150	$1.62	24d	1	1.20mi
1504 Virginia Ave Daytona Beach, FL	1.0–2.0	1.0–2.0	842	$1,650	$1.96	24d	3	1.21mi
2313 Incandescent Way Unit 1 South Daytona, FL	3.0	2.5	1500	$1,900	$1.27	15d	1	1.22mi
2208 Flourescent Way South Daytona, FL	3.0	2.5	1400	$2,300	$1.64	24d	1	1.24mi
1500 Virginia Ave Daytona Beach, FL	2.0	2.0	910	$1,475	$1.62	24d	1	1.25mi
2947 S Atlantic Ave #1806 Daytona Beach, FL	3.0	3.0	1458	$2,495	$1.71	22d	1	1.26mi
2947 S Atlantic Ave #401 Daytona Beach, FL	2.0	2.0	1200	$2,500	$2.08	24d	1	1.26mi
2947 S Atlantic Ave #606 Daytona Beach, FL	3.0	2.0	1458	$3,600	$2.47	12d	1	1.26mi
2947 S Atlantic Ave #606 Daytona Beach, FL	3.0	3.0	1458	$3,400	$2.33	24d	1	1.26mi
2947 S Atlantic Ave #506 Daytona Beach, FL	3.0	3.0	1458	$3,850	$2.64	24d	1	1.26mi
1401 S Palmetto Ave Daytona Beach, FL	1.0–2.0	1.0–2.0	890	$1,800	$2.02	24d	3	1.29mi
3131 S Ridgewood Ave #203 South Daytona, FL	2.0	2.0	1013	$1,795	$1.77	15d	1	1.30mi
2987 S Atlantic Ave #205 Daytona Beach Shores, FL	2.0	2.0	1028	$2,600	$2.53	24d	1	1.30mi
1350 Virginia Ave Apt 17 Daytona Beach, FL	2.0	2.0	950	$1,399	$1.47	24d	1	1.31mi
2545 S Atlantic Ave Daytona Beach Shores, FL	2.0–3.0	2.0–3.0	1700	$3,000	$1.76	24d	3	1.32mi
1351 S Ridgewood Ave #26 Daytona Beach, FL	2.0	1.5	988	$1,285	$1.30	15d	1	1.33mi
3023 S Atlantic Ave Unit 1531031P Daytona Beach Shores, FL	2.0	2.0	1097	$4,430	$4.04	15d	1	1.34mi
3013 S Atlantic Ave Unit 907 Daytona Beach, FL	2.0	2.0	1088	$2,800	$2.57	24d	1	1.35mi

HOA detail condo

• Monthly dues: $420 · $5,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $130,900 Active 43 DOM
2. 2026-06-17
   days on market $130,900 Active 42 DOM
3. 2026-06-16
   days on market $130,900 Active 41 DOM
4. 2026-06-15
   days on market $130,900 Active 40 DOM
5. 2026-06-14
   days on market $130,900 Active 38 DOM
6. 2026-06-10
   days on market $130,900 Active 35 DOM
7. 2026-06-09
   days on market $130,900 Active 34 DOM
8. 2026-06-08
   days on market $130,900 Active 33 DOM
9. 2026-06-07
   days on market $130,900 Active 32 DOM
10. 2026-06-05
    days on market $130,900 Active 29 DOM
11. 2026-06-03
    days on market $130,900 Active 28 DOM
12. 2026-06-03
    days on market $130,900 Active 27 DOM
13. 2026-06-01
    days on market $130,900 Active 26 DOM
14. 2026-05-31
    days on market $130,900 Active 25 DOM
15. 2026-05-31
    days on market $130,900 Active 24 DOM
16. 2026-05-06
    listed $130,900 Active 818-char remark
17. 2026-04-03
    historical
18. 2026-04-03
    historical
19. 2026-01-26
    price $139,900
20. 2026-01-26
    price $139,900
21. 2025-11-06
    price $149,900
22. 2025-11-06
    price $149,900
23. 2025-10-03
    listed $154,900 Active
24. 2025-10-03
    listed $154,900 Active
25. 2024-06-11
    historical
26. 2024-02-09
    listed $184,900 Active
27. 2020-09-24
    soldstatus $92,000 Closed
28. 2020-09-24
    soldstatus $92,000
29. 2020-09-08
    historical Contingent
30. 2020-08-10
    listed $94,500 Active
31. 2005-08-04
    soldstatus $114,500
32. 2004-02-05
    soldstatus $77,250
33. 2001-12-03
    soldstatus $54,000
34. 1998-10-06
    soldstatus $43,500
35. 1990-11-01
    soldstatus $43,200
36. 1989-04-01
    soldstatus $43,000

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,510
• − Mortgage interest: −$7,332
• − Property taxes: −$1,324
• − Insurance: −$1,452
• − Repairs & maintenance: −$1,561
• − Management: −$1,561
• − HOA: −$5,040
• − Depreciation: −$3,808
• Taxable loss: −$2,568
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $-24/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 — South Daytona

• Score: 80/100
• State rank: #114
• US rank: #1755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Daytona, FL
• County: Volusia County · 556,871 people
• City population: 22,348
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 22,348
• Household income: $56,862
• Rent vs Own: 36.6% rent · 63.4% 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 (75%)
• Race & ethnicity: White 75% Black 10% Hispanic / Latino 9% Two or more races 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 9% · Canada, South Korea, Jamaica
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% 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: ▼ -247.99%
• Current HPI: 309.304
• Rent YoY: ▼ -2.01%
• 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

+204.4% since first listed

21 events — show timeline

• 2026-05-06 Listed $130,900 Daytona MLS
• 2026-04-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Listing Removed — Daytona MLS
• 2026-01-26 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $139,900 Daytona MLS
• 2025-11-06 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $149,900 Daytona MLS
• 2025-10-03 Listed $154,900 Daytona MLS
• 2025-10-03 Listed $154,900 Stellar MLS as Distributed by MLS Grid
• 2024-06-11 Listing Removed — Daytona MLS
• 2024-02-09 Listed $184,900 Daytona MLS
• 2020-09-24 Sold (Public Records) $92,000 Public Records
• 2020-09-24 Sold (MLS) $92,000 Daytona MLS
• 2020-09-08 Contingent — Daytona MLS
• 2020-08-10 Listed $94,500 Daytona MLS
• 2005-08-04 Sold (Public Records) $114,500 Public Records
• 2004-02-05 Sold (Public Records) $77,250 Public Records
• 2001-12-03 Sold (Public Records) $54,000 Public Records
• 1998-10-06 Sold (Public Records) $43,500 Public Records
• 1990-11-01 Sold (Public Records) $43,200 Public Records
• 1989-04-01 Sold (Public Records) $43,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,324 · -37.8% YoY. Source: county tax records.