180 Magnolia Woods Ct Unit 15B

Deltona, FL 32725

$164,900D

2 bd · 2.0 ba · 897 sqft · Built 1979 · Condo · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,703/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$217
• Vac / Maint / Mgmt: −$358
• Net cashflow: $-11/mo
• Annual: $-129/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• 1% rule: 1.03%
• Cash to close: $46,172

Investor read

• This is a 2-bed/2.0-bath condo listed at $165k.
• At list price, monthly cash flow is $-11 ($-129/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (1.2% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 49 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 71/100 on livability (#381 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Forest Lake Elementary School (math 45% / reading 53%, grade D, #1,134 of 2,144 statewide, top 54%, 476 students, 62% FRL); Deltona Middle School (math 37% / reading 43%, grade F, #368 of 571 statewide, top 65%, 1,146 students, 60% FRL); University High School (math 28% / reading 46%, grade F, #340 of 667 statewide, top 52%, 2,901 students, 49% FRL).
• Market conditions: Rents flat; 421 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $50k; list at $165k implies a 230% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?