2203 Lime Tree Dr · Edgewater, FL 32141

$249,000

3 bd · 2.0 ba · 1,904 sqft · SingleFamily public records · 3 Days on market

Built 1978 0.46 ac lot

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.7/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Lovely 3 bedroom, 2 bathrooms (master bath has no tub or shower but has all the plumbing in place) with an extra bonus room that could serve as a 4th bedroom. All the major things have been done here. New roof in 2021, new AC, tankless water heater, appliances and 6 new windows all done is 2023. Flooring is currently painted concrete so you can choose whatever flooring you'd like for your personal touch. Corner lot 160x125. Detached one car garage with workshop area. This home is priced for a quick sale at $249,000.

Key facts

• New ac
• New roof
• Corner lot

Tags

• NEW ROOF
• NEW AC
• TANKLESS WATER HEATER
• NEW WINDOWS
• CORNER LOT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/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 $242k (2.6% below list).
• Recommended offer: $242k (2.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#329 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, 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: Indian River Elementary School (math 57% / reading 55%, grade C+, #832 of 2,144 statewide, top 40%, 613 students, 61% FRL); New Smyrna Beach High School (math 34% / reading 52%, grade F, #255 of 667 statewide, top 39%, 1,810 students, 41% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 304 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• At $2,425/mo this rent would consume 46% of the median local household income ($64k/yr) (locally 161% 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 (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; list at $249k implies a 232% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,483 (2.6% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.97% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.36%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-13,219
• Equity at exit: $37,127

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $23,127
• Equity at exit: $21,529

Cash invested: $69,720 (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 32141

• Home prices YoY: -19.2%
• Active inventory: 304
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,425 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $428

Break-even live

Break-even rent $1,884

Max offer price $249,000

Occupancy floor 77%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2027 Guava Dr Unit 2029 Edgewater, FL	4.0	2.0	1760	$1,995	$1.13	23d	1	0.35mi
2421 India Palm Dr Edgewater, FL	3.0	2.0	1358	$2,150	$1.58	18d	1	0.38mi
2219 Umbrella Tree Dr Edgewater, FL	3.0	2.0	1446	$2,300	$1.59	23d	1	0.50mi
2515 Fern Palm Dr Edgewater, FL	3.0	2.0	1400	$2,200	$1.57	11d	1	0.55mi
2522 Evergreen Dr Edgewater, FL	3.0	3.0	2280	$2,200	$0.96	23d	1	0.59mi
2621 India Palm Dr Edgewater, FL	3.0	2.0	1269	$2,400	$1.89	23d	1	0.61mi
226 Tree Branch Ln Edgewater, FL	3.0	2.0	1514	$2,350	$1.55	14d	1	0.62mi
1822 Royal Palm Dr Edgewater, FL	3.0	2.0	1400	$1,620	$1.16	14d	1	0.70mi
2725 Silver Canoe Dr Edgewater, FL	3.0	2.5	1840	$2,200	$1.20	23d	1	0.94mi
120 Hardin Pl Edgewater, FL	3.0	2.0	1455	$2,075	$1.43	14d	1	1.10mi
2437 Swordfish Ln Edgewater, FL	3.0	3.0	2444	$4,000	$1.64	23d	1	1.11mi
3119 Mango Tree Dr Edgewater, FL	3.0	2.0	1714	$2,345	$1.37	21d	1	1.36mi
3120 Juniper Dr Edgewater, FL	3.0	2.0	1440	$2,150	$1.49	23d	1	1.36mi
1405 S Riverside Dr Edgewater, FL	3.0	2.5	2100	$4,500	$2.14	23d	1	1.36mi
3017 Vista Palm Dr Edgewater, FL	3.0	3.0	1560	$2,196	$1.41	18d	1	1.40mi

Listing history 5 events

1. 2026-04-04
   status Pending
2. 2026-04-01
   listed $249,000 Active
3. 2025-08-07
   price $295,000
4. 2025-07-22
   listed $325,000 Active
5. 1991-08-01
   soldstatus $75,000

ⓘ 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: $941 · $78/mo
• Projected year-2 tax: $2,067 · $172/mo
• Expected delta: +$1,125/yr (+$94/mo · 119.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $29,098
• − Mortgage interest: −$13,948
• − Property taxes: −$941
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,328
• − Management: −$2,328
• − Depreciation: −$7,244
• Taxable income: $1,064
• Est. tax owed @ 24.0%: −$255
• After-tax cash flow: $4,876/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 — Edgewater

• Score: 72/100
• State rank: #329
• US rank: #5753

Category grades

Amenities D- Commute F Cost of living A+ 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: Edgewater, FL
• County: Volusia County · 556,871 people
• City population: 18,726
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 18,726
• Household income: $63,936
• Rent vs Own: 6.2% rent · 93.8% own
• Severe rent burden: 161.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 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: ▼ -80.12%
• Current HPI: 337.8301
• Rent YoY: —
• 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

+232.0% since first listed

5 events — show timeline

• 2026-04-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-01 Listed $249,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $295,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-22 Listed $325,000 Stellar MLS as Distributed by MLS Grid
• 1991-08-01 Sold (Public Records) $75,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $941 · +1.9% YoY. Source: county tax records.