664 Mulberry Ln · DeLand, FL 32724

$67,500

2 bd · 2.0 ba · 1,120 sqft · SingleFamily · 105 Days on market

Built 1978 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

For sale by owner 1978 24x48 2 bedroom/2 bath home in Hawthorne Hills 55+ park, located in beautiful Deland. This home has been totally remodeled to include new drywall, new electrical, new flooring throughout, updated kitchen with large island that is open concept to the living room. Fresh paint thru-out. There is a sliding glass door off the kitchen, which accesses the carport. The spacious guest bedroom has a large wall closet and a walk in closet that could be used as an office or craft room. The large guest bath is located across the hall, and it has a walk-in shower with a glass wall (no shower curtain or sliding doors needed). Large master bedroom has both a wall and walk in closet. The en-suite is spacious with double sinks & tub/shower combo. There is a Florida room located directly off the living room, accessed by sliding glass door. This is located on the north end of the house, with no direct hot sun hitting it. This room is screened in with power and a ceiling fan. There are ceiling fans in the living room and bedrooms. It has new energy efficient windows and central air. The laundry room is located in a small room off the kitchen and accessible under the carport.

Key facts

• Totally remodeled
• Large island
• Sliding glass door

Tags

• TOTALLY REMODELED
• UPDATED KITCHEN
• LARGE ISLAND
• SLIDING GLASS DOOR
• WALK IN CLOSET
• WALK IN SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $891 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $61k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#498 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B; Watch: schools D+, 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 (+2.8%/yr); 662 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Recommended offer $61,425 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.55% ✓
• Cap rate: 22.14%
• Cash-on-cash: 56.60%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: 54.8%
• Equity multiple: 3.41×
• Total profit: $45,555
• Equity at exit: $10,064

10-year hold

• IRR: 59.8%
• Equity multiple: 6.91×
• Total profit: $111,615
• Equity at exit: $5,836

Cash invested: $18,900 (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 32724

• Rents YoY: 2.8%
• Active inventory: 662
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$354
• Tax est. 1.5%: −$84 /mo · $1,012/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $891

Break-even live

Break-even rent $590

Max offer price $67,500

Occupancy floor 43%

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1312 Water Willow Dr DeLand, FL	1.0–2.0	1.0–2.0	785	$1,324	$1.69	23d	1	0.98mi
117 E Euclid Ave DeLand, FL	1.0	1.0	998	$2,400	$2.40	23d	1	1.08mi
313 Heritage Estates Ln Deland, FL	3.0	2.0	1459	$2,509	$1.72	23d	1	1.15mi
400 E Howry Ave Deland, FL	1.0–2.0	1.0–2.0	956	$1,995	$2.09	11d	25	1.17mi
727 Wood St Deland, FL	3.0	1.0	900	$1,329	$1.48	19d	1	1.18mi
315 Winslow Ave Deland, FL	2.0	1.0	1100	$1,450	$1.32	23d	1	1.25mi
240 E Howry Ave DeLand, FL	2.0	1.0	816	$1,500	$1.84	23d	1	1.29mi
107 Oakland Dr DeLand, FL	2.0	1.0	1200	$1,700	$1.42	23d	1	1.34mi
903 E New York Ave DeLand, FL	3.0	2.0	1500	$2,200	$1.47	23d	1	1.37mi
832 E Indiana Ave Deland, FL	2.0	1.0	893	$1,275	$1.43	23d	1	1.39mi
622 E Rich Ave Deland, FL	2.0	1.0	884	$1,230	$1.39	14d	1	1.43mi
121 N Colorado Ave Deland, FL	2.0	1.0	770	$1,095	$1.42	19d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $67,500 Active 105 DOM
2. 2026-06-17
   days on market $67,500 Active 104 DOM
3. 2026-06-16
   days on market $67,500 Active 103 DOM
4. 2026-06-15
   days on market $67,500 Active 102 DOM
5. 2026-06-14
   days on market $67,500 Active 100 DOM
6. 2026-06-10
   days on market $67,500 Active 97 DOM
7. 2026-06-09
   days on market $67,500 Active 96 DOM
8. 2026-06-08
   days on market $67,500 Active 95 DOM
9. 2026-06-07
   days on market $67,500 Active 94 DOM
10. 2026-06-05
    pricedays on market $67,500 Active 91 DOM
11. 2026-06-03
    days on market $69,500 Active 90 DOM
12. 2026-06-03
    days on market $69,500 Active 89 DOM
13. 2026-06-01
    days on market $69,500 Active 88 DOM
14. 2026-05-31
    days on market $69,500 Active 87 DOM
15. 2026-05-31
    days on market $69,500 Active 86 DOM
16. 2026-03-05
    listed $69,500 Active 1201-char remark

    Show marketing remark (1201 chars)

    For sale by owner 1978 24x48 2 bedroom/2 bath home in Hawthorne Hills 55+ park, located in beautiful Deland. This home has been totally remodeled to include new drywall, new electrical, new flooring throughout, updated kitchen with large island that is open concept to the living room. Fresh paint thru-out. There is a sliding glass door off the kitchen, which accesses the carport. The spacious guest bedroom has a large wall closet and a walk in closet that could be used as an office or craft room. The large guest bath is located across the hall, and it has a walk-in shower with a glass wall (no shower curtain or sliding doors needed). Large master bedroom has both a wall and walk in closet. The en-suite is spacious with double sinks & tub/shower combo. There is a Florida room located directly off the living room, accessed by sliding glass door. This is located on the north end of the house, with no direct hot sun hitting it. This room is screened in with power and a ceiling fan. There are ceiling fans in the living room and bedrooms. It has new energy efficient windows and central air. The laundry room is located in a small room off the kitchen and accessible under the carport.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,627
• − Mortgage interest: −$3,781
• − Property taxes: −$1,012
• − Insurance: −$338
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$1,964
• Taxable income: $10,232
• Est. tax owed @ 24.0%: −$2,456
• After-tax cash flow: $8,242/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home has been recently remodeled with new drywall, electrical, flooring, and appliances, making it move-in ready and highly attractive for both resale and rental purposes.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value.
• Both Adding a small outdoor seating area — Can increase the home's appeal and functionality, enhancing both resale and rental value.
• Both Upgrading the lighting fixtures — Modernizes the home and can increase both resale and rental value.
• Both Adding a smart home system — Enhances convenience and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value. ↑
• Both Adding a small outdoor seating area — Can increase the home's appeal and functionality, enhancing both resale and rental value. ↑
• Both Upgrading the lighting fixtures — Modernizes the home and can increase both resale and rental value. ↑
• Both Adding a smart home system — Enhances convenience and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — DeLand

• Score: 68/100
• State rank: #498
• US rank: #9197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeLand, FL
• County: Volusia County · 556,871 people
• City population: 81,399
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 45,140
• Household income: $73,592
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 942.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 19% Two or more races 9% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 14% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -215.80%
• Current HPI: 297.1837
• Rent YoY: ▲ 2.82%
• 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

1 event — show timeline

• 2026-03-05 Listed $69,500 ForSaleByOwner.com