1496 Morning Walk Dr · Ormond Beach, FL 32174

$362,870

5 bd · 2.0 ba · 1,708 sqft · Land · 67 Days on market

Built 2026

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The property is located at 1496 Morning Walk Drive ORMOND BEACH FL 32174 priced at 362870, the square foot and stories are 1708, 1.The number of bath is 2, halfbath is 0 there are 5 bedrooms and 2 garages. For more details please, call or email.

Key facts

• 2 garage spots
• Built 2026
• Listed 67 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath land listed at $363k.

Deal economics

• At list price, monthly cash flow is $-467 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (18.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (28.8% below list).
• Recommended offer: $258k (28.8% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.8% in Ormond Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Pine Trail Elementary School (math 77% / reading 72%, grade A, #230 of 2,144 statewide, top 12%, 688 students, 45% FRL); Ormond Beach Middle School (math 57% / reading 55%, grade B-, #175 of 571 statewide, top 31%, 990 students, 48% FRL); Seabreeze High School (math 31% / reading 56%, grade F, #248 of 667 statewide, top 38%, 1,654 students, 41% FRL).
• Market conditions: Rents rising (+1.6%/yr); 991 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).
• This rent runs 44% of the median local income ($71k/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 $3k of loan paydown is wiped out by about $11k 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 67 days — a 6% lower offer ($341k) is reasonable based on typical stale-listing flexibility.

Recommended offer $258,267 (28.8% 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 67 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.71% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.52%
• DSCR: 0.75
• GRM: 11.7

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: -27.2%
• Equity multiple: 0.09×
• Total profit: $-92,018
• Equity at exit: $54,105

10-year hold

• IRR: -30.7%
• Equity multiple: -0.30×
• Total profit: $-132,224
• Equity at exit: $31,374

Cash invested: $101,604 (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: 991
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,583 medium
• Mortgage (P&I): −$1,903
• Tax est. 1.5%: −$454 /mo · $5,443/yr
• Insurance: −$151
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $-467

Break-even live

Break-even rent $3,174

Max offer price $295,236

Occupancy floor —

Sensitivity live

Price	-10% $-217	-5% $-342	+0% $-467	+5% $-593	+10% $-718
Rent	-10% $-671	-5% $-569	+0% $-467	+5% $-365	+10% $-263
Rate	-1.0pp $-285	-0.5pp $-375	base $-467	+0.5pp $-561	+1.0pp $-657

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: $90,718
• Closing costs: $10,886
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 Middle Lake Dr Ormond Beach, FL	4.0	2.0	1846	$2,600	$1.41	25d	1	0.70mi

Listing history 19 events

1. 2026-06-23
   days on market $362,870 Active 67 DOM
2. 2026-06-22
   days on market $362,870 Active 66 DOM
3. 2026-06-18
   days on market $362,870 Active 63 DOM
4. 2026-06-17
   days on market $362,870 Active 62 DOM
5. 2026-06-16
   days on market $362,870 Active 61 DOM
6. 2026-06-15
   days on market $362,870 Active 60 DOM
7. 2026-06-14
   days on market $362,870 Active 58 DOM
8. 2026-06-10
   days on market $362,870 Active 55 DOM
9. 2026-06-09
   days on market $362,870 Active 54 DOM
10. 2026-06-08
    days on market $362,870 Active 53 DOM
11. 2026-06-07
    days on market $362,870 Active 52 DOM
12. 2026-06-05
    days on market $362,870 Active 49 DOM
13. 2026-06-03
    days on market $362,870 Active 48 DOM
14. 2026-06-03
    days on market $362,870 Active 47 DOM
15. 2026-06-01
    days on market $362,870 Active 46 DOM
16. 2026-05-31
    days on market $362,870 Active 45 DOM
17. 2026-05-31
    days on market $362,870 Active 44 DOM
18. 2026-05-12
    price $362,870 245-char remark

    Show marketing remark (245 chars)

    The property is located at 1496 Morning Walk Drive ORMOND BEACH FL 32174 priced at 362870, the square foot and stories are 1708, 1.The number of bath is 2, halfbath is 0 there are 5 bedrooms and 2 garages. For more details please, call or email.

19. 2026-04-16
    listed $360,870 Active 245-char remark

    Show marketing remark (245 chars)

    The property is located at 1496 Morning Walk Drive ORMOND BEACH FL 32174 priced at 362870, the square foot and stories are 1708, 1.The number of bath is 2, halfbath is 0 there are 5 bedrooms and 2 garages. For more details please, call or email.

ⓘ 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: $30,992
• − Mortgage interest: −$20,326
• − Property taxes: −$5,443
• − Insurance: −$1,814
• − Repairs & maintenance: −$2,479
• − Management: −$2,479
• − Depreciation: −$10,556
• Taxable loss: −$12,107
• Est. tax savings @ 24.0%: +$2,906
• After-tax cash flow: $-2,703/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

+0.6% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $362,870 Zillow
• 2026-04-16 Listed $360,870 Zillow