461 Wiltshire Blvd

Port Orange, FL 32127

$299,900F

2 bd · 2.0 ba · 960 sqft · Built 1975 · SingleFamily · Pending · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,575/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$286
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $-614/mo
• Annual: $-7,371/yr
• Cap rate: 4.10%
• Cash-on-cash: -7.83%
• DSCR: 0.65
• 1% rule: 0.53%
• Cash to close: $83,972

Investor read

• This is a 2-bed/2.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $-614 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (36.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (47.5% below list).
• It's been on market 83 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (47.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#131 in FL, #1,957 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities D+, commute D+.
• 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: Spruce Creek Elementary School (math 67% / reading 64%, grade B+, #500 of 2,144 statewide, top 24%, 785 students, 51% FRL); Creekside Middle School (math 66% / reading 62%, grade B+, #105 of 571 statewide, top 19%, 1,222 students, 39% FRL); Spruce Creek High School (math 37% / reading 61%, grade D, #193 of 667 statewide, top 29%, 2,569 students, 37% FRL).
• Zoned-school proficiency averages 60% at this address vs 46% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Volusia average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising (+1.8%/yr); 417 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $39k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $300k implies a 338% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe 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.

Questions for listing agent

• 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?
• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?