511 Flamingo Ln · Deltona, FL 32764

$122,000

2 bd · 2.0 ba · 784 sqft · Condo public records · 73 Days on market

Built 1980 $281/mo HOA

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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 +11.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

COMPLETELY RENOVATED!! MOVE IN READY!! Welcome to Kove Estates in Osteen! This beautifully updated 2-bedroom, 2-bath home offers comfort, style, and abundant natural light throughout. The completely renovated property features an updated kitchen, granite countertops, new cabinetry, and a gas cooktop—perfect for cooking and entertaining. Both bathrooms have been tastefully updated. Enjoy added functionality with a dedicated laundry room including washer and dryer. Relax and unwind in the screened-in porch or the enclosed sunroom, providing additional living space to enjoy year-round. Recent upgrades include a newer HVAC system (2024), recessed lighting, Updated Subfloors and Newer Flooring throughout, ceiling fans for added comfort and efficiency. 55+ CO-OP Community Resort Style Living at its finest, all the thrills without all the fuss. There is no lot rent, as a share in the community conveys with the sale. With a monthly cooperative fee of $281 which allows you to Enjoy Year Round 9 Hole Golf Course, 2 pools, one heated, tennis courts, pickleball, community events and the peaceful nights all in your very own gated community. 30 minutes to the Beach, 45 minutes to Disney. Light-filled and move-in ready, this home is a must-see in the desirable Kove Estates community!

Key facts

• 5,496 sq ft lot
• Parking
• Community pool

🏢 Co-op / cooperative unit. The $122,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $122k.

Deal economics

• At list price, monthly cash flow is $-39 ($-462/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (5.6% below list).
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $115k (6.0% below list) — sets the bar for market timing.

Location & tenants

• 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: Osteen Elementary School (math 54% / reading 56%, grade C, #872 of 2,144 statewide, top 42%, 469 students, 60% FRL); Heritage Middle School (math 38% / reading 41%, grade F, #373 of 571 statewide, top 66%, 993 students, 61% FRL); Pine Ridge High School (math 19% / reading 38%, grade F, #458 of 667 statewide, top 69%, 1,636 students, 54% FRL).
• Market conditions: 85 active listings in the ZIP; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($843 loan paydown + $12k appreciation (10.0% local appreciation)).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $122k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,680 (6.0% 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 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.35%
• DSCR: 0.94
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.88×
• Total profit: $64,113
• Equity at exit: $109,907

10-year hold

• IRR: 20.8%
• Equity multiple: 6.59×
• Total profit: $190,973
• Equity at exit: $237,019

Cash invested: $34,160 (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 32764

• Home prices YoY: 11.7%
• Active inventory: 85
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$39 /mo · $466/yr
• Insurance: −$51
• HOA: −$281
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-39

Break-even live

Break-even rent $1,279

Max offer price $115,197

Occupancy floor 98%

Sensitivity live

Price	-10% $31	-5% $-4	+0% $-39	+5% $-73	+10% $-108
Rent	-10% $-136	-5% $-87	+0% $-39	+5% $10	+10% $59
Rate	-1.0pp $23	-0.5pp $-7	base $-39	+0.5pp $-70	+1.0pp $-102

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $281 · $3,372/yr
• Likely covers: gaspoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $122,000 Active 73 DOM
2. 2026-06-17
   days on market $122,000 Active 72 DOM
3. 2026-06-16
   days on market $122,000 Active 71 DOM
4. 2026-06-15
   price $122,000 Active 70 DOM
5. 2026-06-15
   days on market $129,000 Active 70 DOM
6. 2026-06-14
   days on market $129,000 Active 68 DOM
7. 2026-06-10
   days on market $129,000 Active 65 DOM
8. 2026-06-09
   days on market $129,000 Active 64 DOM
9. 2026-06-08
   days on market $129,000 Active 63 DOM
10. 2026-06-07
    days on market $129,000 Active 62 DOM
11. 2026-06-05
    days on market $129,000 Active 59 DOM
12. 2026-06-03
    days on market $129,000 Active 58 DOM
13. 2026-06-03
    days on market $129,000 Active 57 DOM
14. 2026-06-01
    days on market $129,000 Active 56 DOM
15. 2026-05-31
    days on market $129,000 Active 55 DOM
16. 2026-05-31
    days on market $129,000 Active 54 DOM
17. 2026-04-06
    listed $129,000 Active 1295-char remark

    Show marketing remark (1295 chars)

    COMPLETELY RENOVATED!! MOVE IN READY!! Welcome to Kove Estates in Osteen! This beautifully updated 2-bedroom, 2-bath home offers comfort, style, and abundant natural light throughout. The completely renovated property features an updated kitchen, granite countertops, new cabinetry, and a gas cooktop—perfect for cooking and entertaining. Both bathrooms have been tastefully updated. Enjoy added functionality with a dedicated laundry room including washer and dryer. Relax and unwind in the screened-in porch or the enclosed sunroom, providing additional living space to enjoy year-round. Recent upgrades include a newer HVAC system (2024), recessed lighting, Updated Subfloors and Newer Flooring throughout, ceiling fans for added comfort and efficiency. 55+ CO-OP Community Resort Style Living at its finest, all the thrills without all the fuss. There is no lot rent, as a share in the community conveys with the sale. With a monthly cooperative fee of $281 which allows you to Enjoy Year Round 9 Hole Golf Course, 2 pools, one heated, tennis courts, pickleball, community events and the peaceful nights all in your very own gated community. 30 minutes to the Beach, 45 minutes to Disney. Light-filled and move-in ready, this home is a must-see in the desirable Kove Estates community!

18. 2019-11-22
    soldstatus $39,900 Sold 391-char remark

    Show marketing remark (391 chars)

    Cute home in wonderful retirement community, Remodeling repairs underway. Free golf for all residents. No rent on your lot. Resort living in your own home. Both bedrooms have a full bath attached, spacious living room with pass thru counter to kitchen. Florida room has vented a/c, and a separate laundry room area and a screened patio on the other side. Hurry won't last long at this price.

19. 2019-10-18
    status Pending 391-char remark

    Show marketing remark (391 chars)

    Cute home in wonderful retirement community, Remodeling repairs underway. Free golf for all residents. No rent on your lot. Resort living in your own home. Both bedrooms have a full bath attached, spacious living room with pass thru counter to kitchen. Florida room has vented a/c, and a separate laundry room area and a screened patio on the other side. Hurry won't last long at this price.

20. 2019-01-31
    status Active 391-char remark

    Show marketing remark (391 chars)

    Cute home in wonderful retirement community, Remodeling repairs underway. Free golf for all residents. No rent on your lot. Resort living in your own home. Both bedrooms have a full bath attached, spacious living room with pass thru counter to kitchen. Florida room has vented a/c, and a separate laundry room area and a screened patio on the other side. Hurry won't last long at this price.

21. 2019-01-28
    historical 391-char remark

    Show marketing remark (391 chars)

    Cute home in wonderful retirement community, Remodeling repairs underway. Free golf for all residents. No rent on your lot. Resort living in your own home. Both bedrooms have a full bath attached, spacious living room with pass thru counter to kitchen. Florida room has vented a/c, and a separate laundry room area and a screened patio on the other side. Hurry won't last long at this price.

22. 2018-09-28
    listed $44,900 Active 391-char remark

    Show marketing remark (391 chars)

    Cute home in wonderful retirement community, Remodeling repairs underway. Free golf for all residents. No rent on your lot. Resort living in your own home. Both bedrooms have a full bath attached, spacious living room with pass thru counter to kitchen. Florida room has vented a/c, and a separate laundry room area and a screened patio on the other side. Hurry won't last long at this price.

23. 2005-07-22
    soldstatus $45,000
24. 2005-07-21
    historical
25. 2005-06-14
    listed $50,000

ⓘ 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: $466 · $39/mo
• Projected year-2 tax: $1,013 · $84/mo
• Expected delta: +$547/yr (+$46/mo · 117.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,763
• − Mortgage interest: −$6,834
• − Property taxes: −$466
• − Insurance: −$610
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − HOA: −$3,372
• − Depreciation: −$3,549
• Taxable loss: −$2,430
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $121/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 — Deltona

• Score: 71/100
• State rank: #381
• US rank: #6749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 101,355
• Population (ZIP): 2,744

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Slovak 5% Lithuanian 3% Italian 3%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% 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: ▲ 55.42%
• Current HPI: 531.22
• Rent YoY: —
• Metro: —
• 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

+158.0% since first listed

9 events — show timeline

• 2026-04-06 Listed $129,000 Stellar MLS as Distributed by MLS Grid
• 2019-11-22 Sold (MLS) $39,900 Stellar MLS as Distributed by MLS Grid
• 2019-10-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-01-31 Relisted — Stellar MLS as Distributed by MLS Grid
• 2019-01-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-09-28 Listed $44,900 Stellar MLS as Distributed by MLS Grid
• 2005-07-22 Sold (MLS) $45,000 Stellar MLS as Distributed by MLS Grid
• 2005-07-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-06-14 Listed $50,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+17.1%/yr

Latest (2025): $466 · +3.7% YoY. Source: county tax records.