313 Belleza Blvd #795 · Edgewater, FL 32141

$159,995

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 30 Days on market

Manufactured home 55+ age-restricted Built 2026 Excellent condition $118/sqft · 11% below area Est $180k · 11% under

---

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 +16.7/30.0
• ARV discount +12.5/15.0
• DSCR +5.4/10.0
• 1% rule +5.0/10.0
• Condition / age +4.8/5.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -4.6

Listing remarks

Located in Hacienda del Rio, a premier gated 55+ community nestled along the Atlantic Intracoastal Waterway. Welcome home to this beautifully crafted, brand new 2026 Jacobsen home offering modern style, quality construction, and effortless living. This 3 bedroom, 2 bath home features a thoughtfully designed floor plan that maximizes space, comfort, and natural light. The heart of the home is a spacious living area that flows seamlessly into the contemporary kitchen, complete with sleek finishes, ample cabinetry, and generous counter space perfect for everyday living and entertaining.

Key facts

• Gated community
• Contemporary kitchen
• Ample cabinetry

Tags

• GATED COMMUNITY
• ATLANTIC INTRACOASTAL WATERWAY
• SPACIOUS LIVING AREA
• CONTEMPORARY KITCHEN
• AMPLE CABINETRY
• GENEROUS COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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 $159k (0.5% below list).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.5% in Edgewater — 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 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 Middle School (math 43% / reading 43%, grade D-, #331 of 571 statewide, top 59%, 1,037 students, 53% 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 52% FRL track the district average.
• Market conditions: 499 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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 30 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $157,595 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.99% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $180,000
• List price: $159,995
• Delta: -11.11%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Ash St	0.92mi	3/2.0	1,296 (-4%)	2mo	$189,900	$147	56
126 Charles St	1.50mi	2/2.0 (-1)	1,242 (-8%)	3mo	$349,900	$282	44
4385 Maple Ave	0.91mi	2/2.0 (-1)	1,197 (-12%)	0mo	$169,900	$142	41
3989 Willowbrook Dr	1.31mi	3/2.0	1,540 (+14%)	3mo	$324,900	$211	39
6107 Swamp Bay Dr	1.49mi	3/2.0	1,570 (+16%)	1mo	$305,990	$195	39
113 Arbor Ln	1.21mi	2/2.0 (-1)	1,604 (+19%)	2mo	$315,000	$196	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-16,232
• Equity at exit: $23,856

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,585
• Equity at exit: $13,833

Cash invested: $44,799 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 4 under contract
• Months of supply: 45.0 mo (2%/mo absorbed)
• Median asking: $159,995 ($120/sqft)
• Median days on market: 63 d
• This list price: 40% of active listings are priced below it
• ARV vs active asking: +10.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32141

• Home prices YoY: -19.2%
• Active inventory: 499
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,592 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $152

Break-even live

Break-even rent $1,400

Max offer price $159,995

Occupancy floor 85%

Sensitivity live

Price	-10% $262	-5% $207	+0% $152	+5% $97	+10% $41
Rent	-10% $26	-5% $89	+0% $152	+5% $215	+10% $278
Rate	-1.0pp $232	-0.5pp $193	base $152	+0.5pp $110	+1.0pp $68

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: $39,999
• Closing costs: $4,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 River Front Way Edgewater, FL	3.0	2.5	1497	$1,900	$1.27	25d	1	0.64mi
526 Safe Harbor Dr Edgewater, FL	4.0	2.0	1842	$2,200	$1.19	18d	1	0.66mi
136 River Front Way Edgewater, FL	3.0	2.5	1707	$2,100	$1.23	46d	1	0.70mi
287 Club Rio Dr Edgewater, FL	2.0	2.0	1248	$1,599	$1.28	0d	1	0.71mi
172 Riverfront Way Unit 172 Edgewater, FL	3.0	2.5	1373	$1,950	$1.42	133d	1	0.72mi
20 River Park Blvd Edgewater, FL	2.0	1.0	1000	$1,700	$1.70	155d	1	0.88mi
3921 Willowbrook Dr Edgewater, FL	3.0	2.0	1555	$2,250	$1.45	107d	1	1.44mi
172 Coleman St Edgewater, FL	2.0	2.0	1156	$1,700	$1.47	1d	1	1.45mi
3413 Juniper Dr Edgewater, FL	2.0	1.0	1000	$1,500	$1.50	164d	1	1.45mi
4638 Nellie St Edgewater, FL	3.0	2.0	1440	$1,600	$1.11	5d	1	1.46mi

Listing history 1 events

1. 2026-04-29
   listed $159,995 Active 1124-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,102
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$4,654
• Taxable loss: −$771
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $2,007/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This brand new 2026 Jacobsen manufactured home in Hacienda del Rio is move-in ready with excellent condition and modern features.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value. ↑
• Resale Kitchen appliances maintenance — Keeps appliances in top condition for potential buyers. ↑

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Indian River Elementary School C+ FL #832/2,144 Nat'l #9,382/41,679 Middle New Smyrna Beach Middle School D- FL #331/571 Nat'l #5,160/14,009 High New Smyrna Beach High School F FL #255/667 Nat'l #7,439/17,239

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

B Composite livability gradescore 72/100

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 · 572,749 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: 26% of renters

---

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%
• 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