679 Wellington Station Blvd #28 · Ormond Beach, FL 32174

$109,000

1 bd · 1.0 ba · 725 sqft · Condo public records · 10 Days on market

Built 1988 $405/mo HOA · 29% of rent

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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 +16.8/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1ST FLOOR END UNIT-ABSOLUTELY MINT CONDITION. LITE AND BRIGHT. FRESHLY DECORATED. FRENCH DOORS OPEN TO SCRND PORCH OFF LIV RM. ALL KITCHEN APPLS AND WASHER/DRYERIN UTL RM STAY. FAST MOVE IN. E-Z SHOW. POOL, TENNIS, CLUBHOUSE.

Key facts

• Newer roof
• Screened in patio
• $405 HOA

Tags

• SCREENED IN PATIO
• SOLID CONCRETE BLOCK BUILDING
• NEWER ROOF

Property features AI

Finance

• Other: Pets allowed with restrictions and number limits
• HOA & community: Homeowners association (monthly fee); Monthly association fee: $405; Association covers cable TV, insurance, internet, grounds and structure maintenance, sewer, trash and water; Community amenities: Pool, tennis courts, trash service, maintained grounds, cable TV

Exterior

• Parking: Assigned parking; Guest parking; Parking lot
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available and connected
• Home design: Condominium; Residential property; One level / single-story; Entry on level 1; Faces east; Property condition: Fixer
• Construction: Block, concrete and stucco construction; Slab foundation; Shingle roof; Built as a condominium
• Exterior features: Screened patio; Asphalt road access

Interior

• Kitchen: Microwave; Electric oven; Dishwasher; Electric water heater
• Bedrooms: Total rooms: 5
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fans
• Interior features: Breakfast bar; Ceiling fans; Eat-in kitchen; Pantry
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $70 ($835/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Cap rate 7.1% vs local median 3.8% in Ormond Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#55 in FL, #965 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: 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: Tomoka Elementary School (math 62% / reading 61%, grade B, #634 of 2,144 statewide, top 30%, 709 students, 50% FRL); David C. Hinson Sr. Middle School (math 52% / reading 49%, grade C, #246 of 571 statewide, top 44%, 950 students, 52% FRL); Mainland High School (math 30% / reading 37%, grade F, #400 of 667 statewide, top 61%, 1,855 students, 64% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 989 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $754 of loan paydown is wiped out by about $3k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 27y 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 $46k; list at $109k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.74%
• DSCR: 1.12
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.51×
• Total profit: $-14,943
• Equity at exit: $16,252

10-year hold

• IRR: -8.0%
• Equity multiple: 0.54×
• Total profit: $-14,128
• Equity at exit: $9,424

Cash invested: $30,520 (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 32174

• Rents YoY: 1.6%
• Active inventory: 989
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,420 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$45
• HOA: −$405
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $70

Break-even live

Break-even rent $1,332

Max offer price $109,000

Occupancy floor 90%

Sensitivity live

Price	-10% $131	-5% $100	+0% $70	+5% $39	+10% $8
Rent	-10% $-43	-5% $13	+0% $70	+5% $126	+10% $182
Rate	-1.0pp $124	-0.5pp $97	base $70	+0.5pp $41	+1.0pp $13

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Shadow Lakes Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	856	$1,226	$1.43	13d	15	1.40mi

HOA detail condo

• Monthly dues: $405 · $4,860/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-22
   days on market $109,000 Active 10 DOM
2. 2026-06-18
   days on market $109,000 Active 7 DOM
3. 2026-06-17
   days on market $109,000 Active 6 DOM
4. 2026-06-16
   days on market $109,000 Active 5 DOM
5. 2026-06-15
   days on market $109,000 Active 4 DOM
6. 2026-06-14
   remarks 398-char remark
7. 2026-06-14
   listed $109,000 Active 2 DOM

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$538/yr (+$45/mo · 146.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,046
• − Mortgage interest: −$6,106
• − Property taxes: −$367
• − Insurance: −$545
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − HOA: −$4,860
• − Depreciation: −$3,171
• Taxable loss: −$730
• Est. tax savings @ 24.0%: +$175
• After-tax cash flow: $1,010/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 — Ormond Beach

• Score: 83/100
• State rank: #55
• US rank: #965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ormond Beach, FL
• County: Volusia County · 556,871 people
• City population: 69,624
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 54,783
• Household income: $71,011
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1158.0

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 (82%)
• Race & ethnicity: White 82% Black 6% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -327.97%
• Current HPI: 271.92
• Rent YoY: ▲ 1.64%
• 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

+241.7% since first listed

5 events — show timeline

• 2026-06-09 Listed $109,000 Daytona MLS
• 1999-12-30 Sold (Public Records) $46,000 Public Records
• 1999-12-28 Sold (MLS) $46,000 Daytona MLS
• 1999-11-16 Listed $51,900 Daytona MLS
• 1995-04-28 Sold (Public Records) $31,900 Public Records

Property tax history

+3.1%/yr

Latest (2025): $367 · +7.4% YoY. Source: county tax records.