49 Somerset Ave · Palm Coast, FL 32137

$346,990

4 bd · 2.0 ba · 2,003 sqft · Land · 61 Days on market

Built 2026 5,000 sqft lot $32/mo HOA · 1% of rent

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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
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stunning, single-story home showcases a covered entry, stone veneer accents and professional landscaping for extra curb appeal. Inside, discover an open floor plan with volume ceilings, luxury vinyl plank flooring and a spacious great room that provides access to a covered back patio. The modern kitchen boasts Woodmont® 42-in. upper cabinets, an island, quartz countertops and Whirlpool® stainless steel appliances. Relax in the primary suite, which features a walk-in closet and connecting bath that offers quartz countertops, a dual-sink vanity, linen closet and walk-in shower with tile surround. Other highlights include ENERGY STAR® certified lighting, Moen® faucets and Kohler® sinks. See sales counselor for approximate timing required for move-in ready homes.

Key facts

• Open floor plan
• Quartz countertops
• Walk-in closet

Tags

• OPEN FLOOR PLAN
• GREAT ROOM
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• DUAL-SINK VANITY

Property features AI

Finance

• Other: Lease restrictions apply
• Financial info: Other annual assessment applies
• HOA & community: HOA required (monthly HOA approx. $32.67, association fee $98 quarterly); Community pool and playground; Community sidewalks and street lights; Pets allowed

Exterior

• Parking: Attached 2-car garage (approx. 20x22); Driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available; Phone available; Underground utilities; Sprinkler system with recycled water; Water connected; Sewer connected
• Home design: Single family residence; One-story home; North-facing
• Construction: Cement siding; Shingle roof; Slab foundation; New construction; Built by KB HOME
• Exterior features: Covered patio/porch; Rain gutters; Sidewalk; Level, paved lot with sidewalks; Trees and landscaped yard; Irrigation equipment / reclaimed water irrigation

Interior

• Kitchen: Dishwasher; Disposal; Exhaust fan; Ice maker; Microwave; Range
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (Electric and Natural Gas); Central air
• Interior features: High ceilings; Open floorplan with kitchen/family room combo; Living room/dining room combo; Solid surface counters; Solid wood cabinets; Thermostat; Vaulted ceilings; Walk-in closets
• Laundry & utility: Inside laundry room; Gas water heater; Tankless water heater; Inside utility (family/great room adjacency)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $347k.

Deal economics

• At list price, monthly cash flow is $-443 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (35.9% below list).
• Recommended offer: $222k (35.9% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.8% in Palm Coast — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Belle Terre Elementary School (math 64% / reading 64%, grade B, #552 of 2,144 statewide, top 26%, 1,190 students, 58% FRL); Indian Trails Middle School (math 64% / reading 59%, grade B+, #124 of 571 statewide, top 22%, 1,518 students, 50% FRL); Matanzas High School (math 36% / reading 53%, grade F, #237 of 667 statewide, top 36%, 1,978 students, 48% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents flat; 1616 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($84k/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 $10k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,384 (35.9% 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 61 days. Have you received any prior offers? Is the seller open to a 36% 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: 0.64% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 13.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -27.9%
• Equity multiple: 0.08×
• Total profit: $-89,253
• Equity at exit: $51,737

10-year hold

• IRR: -35.7%
• Equity multiple: -0.37×
• Total profit: $-132,936
• Equity at exit: $30,001

Cash invested: $97,157 (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 32137

• Home prices YoY: -34.5%
• Rents YoY: 0.8%
• Active inventory: 1616
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,224 medium
• Mortgage (P&I): −$1,820
• Tax from tax record: −$204 /mo · $2,446/yr
• Insurance: −$145
• HOA: −$32
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-443

Break-even live

Break-even rent $2,785

Max offer price $268,697

Occupancy floor —

Sensitivity live

Price	-10% $-247	-5% $-345	+0% $-443	+5% $-541	+10% $-640
Rent	-10% $-619	-5% $-531	+0% $-443	+5% $-355	+10% $-268
Rate	-1.0pp $-268	-0.5pp $-355	base $-443	+0.5pp $-533	+1.0pp $-625

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: $86,748
• Closing costs: $10,410
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 Redbud Rd Palm Coast, FL	3.0	2.5	1722	$1,825	$1.06	25d	1	1.32mi
152 Redbud Rd Palm Coast, FL	3.0	2.5	2131	$1,850	$0.87	25d	1	1.41mi
165 Redbud Rd Palm Coast, FL	3.0	2.5	1795	$1,800	$1.00	4d	1	1.44mi
199 Redbud Rd Palm Coast, FL	3.0	2.5	1722	$1,800	$1.05	25d	1	1.46mi

HOA detail

• Monthly dues: $32 · $384/yr
• Likely covers: landscapingpool

Listing history 7 events

1. 2026-06-21
   days on market $346,990 Active 61 DOM
2. 2026-06-18
   days on market $346,990 Active 58 DOM
3. 2026-06-17
   days on market $346,990 Active 57 DOM
4. 2026-06-16
   days on market $346,990 Active 56 DOM
5. 2026-06-15
   price $346,990 Active 55 DOM
6. 2026-04-11
   listed $343,990 Active 794-char remark

   Show marketing remark (794 chars)

   This stunning, single-story home showcases a covered entry, stone veneer accents and professional landscaping for extra curb appeal. Inside, discover an open floor plan with volume ceilings, luxury vinyl plank flooring and a spacious great room that provides access to a covered back patio. The modern kitchen boasts Woodmont® 42-in. upper cabinets, an island, quartz countertops and Whirlpool® stainless steel appliances. Relax in the primary suite, which features a walk-in closet and connecting bath that offers quartz countertops, a dual-sink vanity, linen closet and walk-in shower with tile surround. Other highlights include ENERGY STAR® certified lighting, Moen® faucets and Kohler® sinks. See sales counselor for approximate timing required for move-in ready homes.

7. 2026-04-02
   listed $343,990 Active

ⓘ 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: $2,446 · $204/mo
• Projected year-2 tax: $2,880 · $240/mo
• Expected delta: +$434/yr (+$36/mo · 17.8%)

ⓘ 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 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,686
• − Mortgage interest: −$19,437
• − Property taxes: −$2,446
• − Insurance: −$1,735
• − Repairs & maintenance: −$2,135
• − Management: −$2,135
• − HOA: −$384
• − Depreciation: −$10,094
• Taxable loss: −$11,679
• Est. tax savings @ 24.0%: +$2,803
• After-tax cash flow: $-2,515/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: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Palm Coast

• Score: 69/100
• State rank: #478
• US rank: #8721

Category grades

Amenities F Commute F Cost of living B+ 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: Palm Coast, FL
• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 48,391
• Household income: $83,923
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 816.0

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 4% Russian 2% Lithuanian 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -153.27%
• Current HPI: 290.4607
• Rent YoY: ▲ 0.85%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-11 Listed $343,990 Zillow
• 2026-04-02 Listed $343,990 Stellar MLS as Distributed by MLS Grid