1076 Morfontaine St · Daytona Beach, FL 32124

$436,990

5 bd · 3.0 ba · 2,490 sqft · Land · 104 Days on market

Built 2025 7,511 sqft lot $157/mo HOA · 4% 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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• Appreciation +4.0/10.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Under Construction. Welcome to the Covington, an exquisite single-story floor plan designed with your modern lifestyle in mind. This spacious home offers 5 bedrooms, 3 bathrooms, and a 3-car garage, ensuring ample space for comfortable living and entertaining. The Covington features an open-concept layout that seamlessly integrates the living room, dining area, and kitchen, creating a perfect space for family gatherings and social occasions. The stylish kitchen is a chef’s dream, equipped with stainless steel appliances, a large center island with seating, and a walk-in pantry for ample storage. The primary bedroom, located for optimal privacy at the rear of the home, offers a serene retreat. It includes a luxurious en-suite bathroom complete with a walk-in closet, double vanity, and a spacious walk-in shower, providing both functionality and relaxation. In addition to the primary suite, the Covington includes three well-sized secondary bedrooms. These versatile rooms can serve as additional bedrooms, a home office, or even a fitness space. Two of these bedrooms share a bathroom, while the fourth bedroom has its own dedicated bathroom, adding an extra layer of convenience and flexibility. As with all homes at Ironwood, the Covington comes equipped with advanced smart home technology. This allows you to control various aspects of your home remotely via your smart device, enhancing security and convenience. * Photos are of similar model but not that of exact house. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Home and community information including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation. Please note that no representations or warranties are made regarding school districts or school assignments; you should conduct your own investigation regarding current and future schools and school boundaries. *

Key facts

• Large center island
• Walk-in closet
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• STAINLESS STEEL APPLIANCES
• LARGE CENTER ISLAND
• WALK-IN PANTRY
• LUXURIOUS EN-SUITE BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $437k.

Deal economics

• At list price, monthly cash flow is $80 ($956/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 $363k (16.9% below list).
• Recommended offer: $363k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 83/100 on livability (#46 in FL, #867 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, employment 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.
• Market conditions: Rents rising fast (+5.5%/yr); 333 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• At $3,630/mo this rent would consume 47% of the median local household income ($93k/yr) (locally 54% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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 104 days — a 9% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $33k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $363,038 (16.9% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.99% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.69×
• Total profit: $-37,883
• Equity at exit: $85,088

10-year hold

• IRR: 2.7%
• Equity multiple: 1.24×
• Total profit: $29,640
• Equity at exit: $72,924

Cash invested: $122,357 (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 32124

• Home prices YoY: -0.6%
• Rents YoY: 5.5%
• Active inventory: 333
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,630 medium
• Mortgage (P&I): −$2,292
• Tax from tax record: −$158 /mo · $1,892/yr
• Insurance: −$182
• HOA: −$157
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $80

Break-even live

Break-even rent $3,530

Max offer price $436,990

Occupancy floor 93%

Sensitivity live

Price	-10% $327	-5% $203	+0% $80	+5% $-44	+10% $-168
Rent	-10% $-207	-5% $-64	+0% $80	+5% $223	+10% $366
Rate	-1.0pp $300	-0.5pp $191	base $80	+0.5pp $-34	+1.0pp $-149

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: $109,248
• Closing costs: $13,110
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Lost Ball Dr Daytona Beach, FL	4.0	2.5	2168	$2,950	$1.36	12d	1	0.58mi
284 Links Terrace Blvd Daytona Beach, FL	4.0	2.5	2200	$2,850	$1.30	24d	1	0.75mi
129 Formby Grande Ave Daytona Beach, FL	5.0	4.0	3317	$3,600	$1.09	24d	1	1.09mi

HOA detail

• Monthly dues: $157 · $1,884/yr
• Likely covers: security

Listing history 13 events

1. 2026-05-14
   price $436,990 2013-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

2. 2026-05-14
   price $436,990 246-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

3. 2026-05-12
   price $441,990 2013-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

4. 2026-05-12
   price $441,990 246-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

5. 2026-04-23
   price $439,990 246-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

6. 2026-04-22
   price $439,990 2013-char remark

   Show marketing remark (2013 chars)

   Under Construction. Welcome to the Covington, an exquisite single-story floor plan designed with your modern lifestyle in mind. This spacious home offers 5 bedrooms, 3 bathrooms, and a 3-car garage, ensuring ample space for comfortable living and entertaining. The Covington features an open-concept layout that seamlessly integrates the living room, dining area, and kitchen, creating a perfect space for family gatherings and social occasions. The stylish kitchen is a chef’s dream, equipped with stainless steel appliances, a large center island with seating, and a walk-in pantry for ample storage. The primary bedroom, located for optimal privacy at the rear of the home, offers a serene retreat. It includes a luxurious en-suite bathroom complete with a walk-in closet, double vanity, and a spacious walk-in shower, providing both functionality and relaxation. In addition to the primary suite, the Covington includes three well-sized secondary bedrooms. These versatile rooms can serve as additional bedrooms, a home office, or even a fitness space. Two of these bedrooms share a bathroom, while the fourth bedroom has its own dedicated bathroom, adding an extra layer of convenience and flexibility. As with all homes at Ironwood, the Covington comes equipped with advanced smart home technology. This allows you to control various aspects of your home remotely via your smart device, enhancing security and convenience. * Photos are of similar model but not that of exact house. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Home and community information including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation. Please note that no representations or warranties are made regarding school districts or school assignments; you should conduct your own investigation regarding current and future schools and school boundaries. *

7. 2026-04-16
   price $444,990 2013-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

8. 2026-04-16
   price $444,990 246-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

9. 2026-03-18
   price $449,990 2013-char remark

   Show marketing remark (246 chars)

   The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

10. 2026-03-18
    price $449,990 246-char remark

    Show marketing remark (246 chars)

    The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

11. 2026-03-06
    listed $469,990 Active 246-char remark

    Show marketing remark (246 chars)

    The property is located at 1076 Morfontaine Street DAYTONA BEACH FL 32124 priced at 436990, the square foot and stories are 2490, 1.The number of bath is 3, halfbath is 0 there are 5 bedrooms and 3 garages. For more details please, call or email.

12. 2026-02-12
    listed $469,990 Active 2013-char remark

    Show marketing remark (2013 chars)

    Under Construction. Welcome to the Covington, an exquisite single-story floor plan designed with your modern lifestyle in mind. This spacious home offers 5 bedrooms, 3 bathrooms, and a 3-car garage, ensuring ample space for comfortable living and entertaining. The Covington features an open-concept layout that seamlessly integrates the living room, dining area, and kitchen, creating a perfect space for family gatherings and social occasions. The stylish kitchen is a chef’s dream, equipped with stainless steel appliances, a large center island with seating, and a walk-in pantry for ample storage. The primary bedroom, located for optimal privacy at the rear of the home, offers a serene retreat. It includes a luxurious en-suite bathroom complete with a walk-in closet, double vanity, and a spacious walk-in shower, providing both functionality and relaxation. In addition to the primary suite, the Covington includes three well-sized secondary bedrooms. These versatile rooms can serve as additional bedrooms, a home office, or even a fitness space. Two of these bedrooms share a bathroom, while the fourth bedroom has its own dedicated bathroom, adding an extra layer of convenience and flexibility. As with all homes at Ironwood, the Covington comes equipped with advanced smart home technology. This allows you to control various aspects of your home remotely via your smart device, enhancing security and convenience. * Photos are of similar model but not that of exact house. Pictures, photographs, colors, features, and sizes are for illustration purposes only and will vary from the homes as built. Home and community information including pricing, included features, terms, availability and amenities are subject to change and prior sale at any time without notice or obligation. Please note that no representations or warranties are made regarding school districts or school assignments; you should conduct your own investigation regarding current and future schools and school boundaries. *

13. 2024-12-06
    soldstatus $11,494,000

ⓘ 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: $1,892 · $158/mo
• Projected year-2 tax: $3,627 · $302/mo
• Expected delta: +$1,735/yr (+$145/mo · 91.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $43,565
• − Mortgage interest: −$24,478
• − Property taxes: −$1,892
• − Insurance: −$2,185
• − Repairs & maintenance: −$3,485
• − Management: −$3,485
• − HOA: −$1,884
• − Depreciation: −$12,712
• Taxable loss: −$6,557
• Est. tax savings @ 24.0%: +$1,574
• After-tax cash flow: $2,530/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 — Daytona Beach

• Score: 83/100
• State rank: #46
• US rank: #867

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Daytona Beach, FL
• County: Volusia County · 556,871 people
• City population: 67,539
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 11,409
• Household income: $92,616
• Rent vs Own: 5.8% rent · 94.2% own
• Severe rent burden: 54.0

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% Black 20% Hispanic / Latino 5% Asian 2% Two or more races 1%
• Common ancestry: Romanian 3% Italian 2% Portuguese 1%
• Foreign-born: 10% · Canada, Mexico, South Korea
• Languages at home: 91% English-only · Spanish 4% Other Asian/Pacific 1% 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: ▼ -1.99%
• Current HPI: 311.7456
• Rent YoY: ▲ 5.46%
• 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

-96.2% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $436,990 Stellar MLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $436,990 Zillow
• 2026-05-12 Price Changed $441,990 Stellar MLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $441,990 Zillow
• 2026-04-23 Price Changed $439,990 Zillow
• 2026-04-22 Price Changed $439,990 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $444,990 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $444,990 Zillow
• 2026-03-18 Price Changed $449,990 Stellar MLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $449,990 Zillow
• 2026-03-06 Listed $469,990 Zillow
• 2026-02-12 Listed $469,990 Stellar MLS as Distributed by MLS Grid
• 2024-12-06 Sold (Public Records) $11,494,000 Public Records

Property tax history

+88.5%/yr

Latest (2025): $1,892 · +88.5% YoY. Source: county tax records.