10 Lee Pl · Palm Coast, FL 32137

$240,000

3 bd · 3.0 ba · 2,454 sqft · SingleFamily public records · 40 Days on market

Built 1998 10,019 sqft lot Est $471k · 49% under ↓ 37% since listing

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Why this score? — see what drove the C+ 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale. SHORT SALE!! SHORT SALE!! MULTIPLE OFFERS!! HIGHEST AND BEST DUE BY TUESDAY, 1/6/2026 AT 10 AM. OFFERS ARE AT OR ABOVE LIST PRICE. Seller accepting CASH AND CONVENTIONAL FINANCING ONLY!! Bankruptcy short sale will take about 120 days to get response on offer from lien holders. 3-bedroom, 2.5-bath home built in 1998. Needs TLC

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1998

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (1.1% below list).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.8% in Palm Coast — 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 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.
• Market conditions: Rents flat; 1600 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($84k/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.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.99% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $471,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Lake Success Dr	0.28mi	3/3.0	2,399 (-2%)	2mo	$645,000	$269	81
32 Lewis Dr	0.43mi	4/3.0 (+1)	2,427 (-1%)	4mo	$417,000	$172	69
82 Lancelot Dr	0.32mi	4/2.5 (+1)	2,570 (+5%)	3mo	$495,000	$193	68
65 Leidel Dr	0.17mi	4/2.0 (+1)	2,237 (-9%)	1mo	$430,000	$192	67
88 Lancelot Dr	0.28mi	4/2.0 (+1)	2,294 (-6%)	3mo	$435,000	$190	64
19 Long Pl	0.51mi	4/3.0 (+1)	2,304 (-6%)	0mo	$570,000	$247	61
29 Louisiana Dr	0.59mi	4/3.0 (+1)	2,332 (-5%)	2mo	$421,400	$181	58
119 Lindsay Dr	0.56mi	4/2.0 (+1)	2,294 (-6%)	1mo	$410,000	$179	53
214 London Dr	0.41mi	3/2.0	2,142 (-13%)	4mo	$389,000	$182	52
10 Lewis Shire Pl	0.43mi	4/2.0 (+1)	2,156 (-12%)	2mo	$315,000	$146	49
6 Lake Pl	0.53mi	4/2.5 (+1)	2,157 (-12%)	1mo	$465,000	$216	47
49 Louisiana Dr	0.65mi	4/2.0 (+1)	2,277 (-7%)	4mo	$448,000	$197	46

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 · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-22,308
• Equity at exit: $35,785

10-year hold

• IRR: -2.8%
• Equity multiple: 0.83×
• Total profit: $-11,472
• Equity at exit: $20,751

Cash invested: $67,200 (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 32137

• Home prices YoY: -34.5%
• Rents YoY: 0.8%
• Active inventory: 1600
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,375 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$178 /mo · $2,130/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $340

Break-even live

Break-even rent $1,944

Max offer price $240,000

Occupancy floor 81%

Sensitivity live

Price	-10% $476	-5% $408	+0% $340	+5% $272	+10% $204
Rent	-10% $152	-5% $246	+0% $340	+5% $434	+10% $528
Rate	-1.0pp $461	-0.5pp $401	base $340	+0.5pp $278	+1.0pp $214

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Lindsay Dr Palm Coast, FL	3.0	2.0	1677	$1,700	$1.01	3d	1	0.59mi
25 Rivertown Rd Palm Coast, FL	3.0	2.0	1907	$2,450	$1.28	24d	1	0.67mi
106 La Mancha Dr Palm Coast, FL	4.0	2.0	1640	$1,900	$1.16	24d	1	0.69mi
7 Lancaster Ln Palm Coast, FL	4.0	2.0	1859	$3,500	$1.88	24d	1	0.70mi
85 Laramie Dr Palm Coast, FL	3.0	2.0	1716	$2,100	$1.22	24d	1	0.71mi
68 Rivertown Rd Palm Coast, FL	3.0	2.0	1770	$2,300	$1.30	3d	1	0.72mi
76 Rivertown Rd Palm Coast, FL	3.0	2.0	1770	$2,300	$1.30	3d	1	0.73mi
25 Louisville Dr Unit A Palm Coast, FL	3.0	2.0	1677	$1,700	$1.01	24d	1	0.77mi
70 Oakleaf Way Palm Coast, FL	3.0	3.0	2363	$2,550	$1.08	24d	1	1.01mi
38 Bud Field Dr Palm Coast, FL	3.0	2.0	1619	$1,900	$1.17	15d	1	1.18mi
12 Lytton Ln Palm Coast, FL	3.0	2.0	1661	$2,895	$1.74	3d	1	1.21mi

Listing history 13 events

1. 2026-01-06
   status Pending
2. 2025-12-12
   status Active
3. 2025-12-12
   price $240,000
4. 2025-06-06
   status Pending
5. 2025-05-22
   listed $220,000 Active
6. 2025-03-06
   historical
7. 2025-02-19
   listed $360,000 Active
8. 2024-05-03
   listed $360,000 Active
9. 2024-05-01
   historical
10. 2024-04-09
    price $360,000
11. 2024-04-05
    price $368,000
12. 2024-03-27
    price $369,000
13. 2024-03-14
    listed $380,000 Active

ⓘ 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: $2,130 · $178/mo
• Projected year-2 tax: $2,130 · $178/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 18 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: $28,497
• − Mortgage interest: −$13,444
• − Property taxes: −$2,130
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,280
• − Management: −$2,280
• − Depreciation: −$6,982
• Taxable income: $182
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $4,036/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: 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

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

• Census place: Palm Coast, FL
• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 48,391
• Household income: $83,923
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 816.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 4% Russian 2% Lithuanian 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -153.27%
• Current HPI: 290.4607
• Rent YoY: ▲ 0.85%
• 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

-36.8% since first listed

13 events — show timeline

• 2026-01-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-05-22 Listed $220,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-02-19 Listed $360,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-03 Listed $360,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-04-09 Price Changed $360,000 Stellar MLS as Distributed by MLS Grid
• 2024-04-05 Price Changed $368,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-27 Price Changed $369,000 Stellar MLS as Distributed by MLS Grid
• 2024-03-14 Listed $380,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2025): $2,130 · +2.7% YoY. Source: county tax records.