217 Schooner Ave · Edgewater, FL 32141

$229,000

2 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 96 Days on market

Built 1989 6,453 sqft lot $258/mo HOA · 12% 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 +12.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.1/10.0
• Schools +3.9/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One or more photo(s) has been virtually staged. Florida living awaits in this 2-bedroom, 2-bath home with a versatile air conditioned sunroom (flex space)--and best of all, you own the land! Large living room with dining room and eat in kitchen area. Don't forget the bonus ''workshop'' out back with electricity and window unit. Your electric bill will be low because this property includes fully paid for solar panels. Newer windows, water heater, and ac. Walk to the clubhouse, heated pool, hot tub, tennis, bocci, fishing pier. Resident boat access to the Intracoastal. Parking for your boat or RV when available. Low maintenance fees. Move-In Ready. Check this one out!

Key facts

• Bonus workshop
• Resident boat access
• 6,453 sq ft lot

Tags

• AIR CONDITIONED SUNROOM
• BONUS WORKSHOP
• FULLY PAID FOR SOLAR PANELS
• RESIDENT BOAT ACCESS
• PARKING FOR YOUR BOAT OR RV

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $-38 ($-461/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (9.0% below list).
• Recommended offer: $208k (9.0% 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.
• Market conditions: 304 active listings in the ZIP; 14 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).
• This rent runs 39% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 96 days — a 9% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y ago 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 $130k; list at $229k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $208,284 (9.0% 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 96 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.91% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 9.2

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: -17.4%
• Equity multiple: 0.38×
• Total profit: $-39,463
• Equity at exit: $34,145

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-37,136
• Equity at exit: $19,800

Cash invested: $64,120 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$130 /mo · $1,555/yr
• Insurance: −$95
• HOA: −$258
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-38

Break-even live

Break-even rent $2,132

Max offer price $222,209

Occupancy floor 97%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
226 Tree Branch Ln Edgewater, FL	3.0	2.0	1514	$2,350	$1.55	14d	1	0.65mi
2515 Fern Palm Dr Edgewater, FL	3.0	2.0	1400	$2,200	$1.57	11d	1	0.70mi
2621 India Palm Dr Edgewater, FL	3.0	2.0	1269	$2,400	$1.89	23d	1	0.76mi
2421 India Palm Dr Edgewater, FL	3.0	2.0	1358	$2,150	$1.58	19d	1	0.89mi
2314 Fern Palm Dr Unit 2314 Edgewater, FL	2.0	2.0	1200	$1,700	$1.42	19d	1	0.91mi
3120 Juniper Dr Edgewater, FL	3.0	2.0	1440	$2,150	$1.49	23d	1	0.95mi
3208 India Palm Dr Edgewater, FL	2.0	2.0	990	$1,550	$1.57	11d	1	0.95mi
1000 Egret Ct Edgewater, FL	2.0	2.0	1051	$2,400	$2.28	23d	1	0.95mi
2330 India Palm Dr Edgewater, FL	2.0	2.0	1025	$1,499	$1.46	14d	1	0.98mi
3318 India Palm Dr Edgewater, FL	2.0	2.0	1200	$1,875	$1.56	23d	1	1.06mi
3119 Mango Tree Dr Edgewater, FL	3.0	2.0	1714	$2,345	$1.37	21d	1	1.06mi
3413 Juniper Dr Edgewater, FL	2.0	1.0	1000	$1,500	$1.50	23d	1	1.16mi
2827 Royal Palm Dr Edgewater, FL	3.0	2.0	1212	$1,900	$1.57	23d	1	1.23mi
3411 Needle Palm Dr Edgewater, FL	3.0	1.0	960	$2,000	$2.08	23d	1	1.32mi

HOA detail

• Monthly dues: $258 · $3,096/yr
• Likely covers: waterelectricpool

Listing history 39 events

1. 2026-06-18
   days on market $229,000 Active 96 DOM
2. 2026-06-17
   days on market $229,000 Active 95 DOM
3. 2026-06-16
   days on market $229,000 Active 94 DOM
4. 2026-06-15
   days on market $229,000 Active 93 DOM
5. 2026-06-14
   days on market $229,000 Active 91 DOM
6. 2026-06-10
   days on market $229,000 Active 88 DOM
7. 2026-06-09
   days on market $229,000 Active 87 DOM
8. 2026-06-08
   days on market $229,000 Active 86 DOM
9. 2026-06-07
   days on market $229,000 Active 85 DOM
10. 2026-06-05
    days on market $229,000 Active 82 DOM
11. 2026-06-03
    days on market $229,000 Active 81 DOM
12. 2026-06-03
    days on market $229,000 Active 80 DOM
13. 2026-06-01
    days on market $229,000 Active 79 DOM
14. 2026-05-31
    days on market $229,000 Active 78 DOM
15. 2026-05-31
    days on market $229,000 Active 77 DOM
16. 2026-03-14
    listed $229,000 Active 674-char remark

    Show marketing remark (674 chars)

    One or more photo(s) has been virtually staged. Florida living awaits in this 2-bedroom, 2-bath home with a versatile air conditioned sunroom (flex space)--and best of all, you own the land! Large living room with dining room and eat in kitchen area. Don't forget the bonus ''workshop'' out back with electricity and window unit. Your electric bill will be low because this property includes fully paid for solar panels. Newer windows, water heater, and ac. Walk to the clubhouse, heated pool, hot tub, tennis, bocci, fishing pier. Resident boat access to the Intracoastal. Parking for your boat or RV when available. Low maintenance fees. Move-In Ready. Check this one out!

17. 2026-03-11
    listed $229,000 Active 626-char remark

    Show marketing remark (626 chars)

    Florida living awaits in this 2-bedroom, 2-bath home with a versatile air conditioned sunroom (flex space)--and best of all, you own the land! Large living room with dining room and eat in kitchen area. Don't forget the bonus ''workshop'' out back with electricity and window unit. Your electric bill will be low because this property includes fully paid for solar panels. Newer windows, water heater, and ac. Walk to the clubhouse, heated pool, hot tub, tennis, bocci, fishing pier. Resident boat access to the Intracoastal. Parking for your boat or RV when available. Low maintenance fees. Move-In Ready. Check this one out!

18. 2026-02-26
    historical
19. 2025-09-17
    price $238,500
20. 2025-03-03
    listed $249,900 Active
21. 2023-09-15
    historical
22. 2023-04-29
    price $278,800
23. 2022-10-31
    price $290,000
24. 2022-09-28
    price $295,000
25. 2022-09-23
    listed $280,000 Active
26. 2017-03-08
    soldstatus $130,000
27. 2017-02-07
    soldstatus $130,000 Closed
28. 2017-02-07
    soldstatus $130,000 Closed
29. 2017-02-07
    soldstatus $130,000
30. 2016-12-05
    historical Contingent
31. 2016-12-05
    historical Contingent
32. 2016-11-24
    price $135,000
33. 2016-11-23
    price $135,000
34. 2016-10-21
    price $139,900
35. 2016-10-04
    price $135,000
36. 2016-09-15
    listed $139,900 Active
37. 2016-09-09
    listed $139,900 Active
38. 2016-09-08
    listed $135,000
39. 1996-10-08
    soldstatus $65,000

ⓘ 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: $1,555 · $130/mo
• Projected year-2 tax: $1,901 · $158/mo
• Expected delta: +$346/yr (+$29/mo · 22.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 21 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: $24,994
• − Mortgage interest: −$12,828
• − Property taxes: −$1,555
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − HOA: −$3,096
• − Depreciation: −$6,662
• Taxable loss: −$4,290
• Est. tax savings @ 24.0%: +$1,030
• After-tax cash flow: $568/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

+252.3% since first listed

24 events — show timeline

• 2026-03-14 Listed $229,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Listed $229,000 Daytona MLS
• 2026-02-26 Listing Removed — Daytona MLS
• 2025-09-17 Price Changed $238,500 Daytona MLS
• 2025-03-03 Listed $249,900 Daytona MLS
• 2023-09-15 Listing Removed — Daytona MLS
• 2023-04-29 Price Changed $278,800 Daytona MLS
• 2022-10-31 Price Changed $290,000 Daytona MLS
• 2022-09-28 Price Changed $295,000 Daytona MLS
• 2022-09-23 Listed $280,000 Daytona MLS
• 2017-03-08 Sold (Public Records) $130,000 Public Records
• 2017-02-07 Sold (MLS) $130,000 Stellar MLS as Distributed by MLS Grid
• 2017-02-07 Sold (MLS) $130,000 NSBMLS
• 2017-02-07 Sold (MLS) $130,000 Daytona MLS
• 2016-12-05 Contingent — Daytona MLS
• 2016-12-05 Contingent — NSBMLS
• 2016-11-24 Price Changed $135,000 NSBMLS
• 2016-11-23 Price Changed $135,000 Daytona MLS
• 2016-10-21 Price Changed $139,900 NSBMLS
• 2016-10-04 Price Changed $135,000 NSBMLS
• 2016-09-15 Listed $139,900 Daytona MLS
• 2016-09-09 Listed $139,900 NSBMLS
• 2016-09-08 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 1996-10-08 Sold (Public Records) $65,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,555 · +1.2% YoY. Source: county tax records.