1605 N Patrick Cir · Daytona Beach, FL 32117

$130,000

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 133 Days on market

Built 1968 9,583 sqft lot ↓ 7% since listing

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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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell FAST!!!! Block Investment property priced at tax value with alot of room for investors to make a profit home owners to make an equity purchase.

Key facts

• 9,583 sq ft lot
• Parking
• Built 1968

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 83/100 on livability (#46 in FL, #867 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, employment 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.
• Market conditions: Rents rising (+1.0%/yr); 332 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 33% of the median local income ($56k/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 $899 of loan paydown is wiped out by about $4k 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 133 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.96%
• DSCR: 1.44
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.01% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-4,849
• Equity at exit: $19,383

10-year hold

• IRR: 3.6%
• Equity multiple: 1.24×
• Total profit: $8,617
• Equity at exit: $11,240

Cash invested: $36,400 (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 32117

• Home prices YoY: -8.2%
• Rents YoY: 1.0%
• Active inventory: 332
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,568 high
• Mortgage (P&I): −$682
• Tax from tax record: −$201 /mo · $2,406/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $302

Break-even live

Break-even rent $1,185

Max offer price $130,000

Occupancy floor 76%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1012 Cadillac Dr Daytona Beach, FL	3.0	2.0	1353	$1,650	$1.22	23d	1	0.24mi
1013 Lewis Dr Daytona Beach, FL	3.0	1.5	1475	$1,850	$1.25	23d	1	0.46mi
922 Lewis Dr Daytona Beach, FL	3.0	1.0	1034	$1,750	$1.69	23d	1	0.47mi
802 Lewis Dr Daytona Beach, FL	3.0	1.0	1223	$1,700	$1.39	23d	1	0.62mi
875 Derbyshire Rd Daytona Beach, FL	3.0	1.0–2.0	835	$1,141	$1.37	11d	11	0.64mi
1262 Essex Rd Daytona Beach, FL	3.0	2.0	1500	$1,900	$1.27	23d	1	0.65mi
736 Kentucky St Unit 3 Daytona Beach, FL	2.0	1.0	850	$1,300	$1.53	14d	1	0.69mi
704 Tennessee St Unit 1 Daytona Beach, FL	2.0	1.0	1479	$1,250	$0.85	23d	1	0.75mi
736 White St Daytona Beach, FL	3.0	2.0	1092	$1,799	$1.65	23d	1	0.84mi
1216 Kennedy Rd Unit 10 Daytona Beach, FL	2.0	1.0	900	$975	$1.08	23d	1	0.96mi
1216 Kennedy Rd Unit 4 Daytona Beach, FL	2.0	1.0	900	$975	$1.08	14d	1	0.96mi
1224 10th St Daytona Beach, FL	3.0	1.0	1284	$1,550	$1.21	14d	1	0.98mi
1217 Kennedy Rd Unit 56 Daytona Beach, FL	2.0	1.0	800	$1,000	$1.25	23d	1	1.00mi
1217 Kennedy Rd Unit 44 Daytona Beach, FL	1.0	1.0	800	$775	$0.97	11d	1	1.00mi
1221 Kennedy Rd Unit 48 Daytona Beach, FL	1.0	1.0	800	$775	$0.97	14d	1	1.00mi
1225 Kennedy Rd Daytona Beach, FL	2.0	1.0	800	$825	$1.03	11d	1	1.00mi
1229 Kennedy Rd Daytona Beach, FL	2.0	1.0	800	$950	$1.19	14d	1	1.00mi
1851 Lpga Blvd Daytona Beach, FL	1.0–3.0	1.0–3.0	966	$1,918	$1.98	11d	49	1.01mi
101 Claysburg LN Holly Hill, FL	1.0–3.0	1.0–2.0	1163	$2,322	$2.00	14d	25	1.02mi
100 Windflower LN Daytona Beach, FL	1.0–3.0	1.0–2.0	1021	$2,014	$1.97	11d	63	1.02mi
1381 N Clyde Morris Blvd Daytona Beach, FL	1.0–3.0	1.0–2.0	919	$1,594	$1.73	11d	10	1.04mi
1600 Lpga Blvd Daytona Beach, FL	1.0–3.0	1.0–2.0	1045	$2,065	$1.98	11d	21	1.10mi
142 White Fawn Dr Daytona Beach, FL	2.0	2.5	1140	$1,495	$1.31	23d	1	1.14mi
165 White Fawn Dr Unit BR2 Daytona Beach, FL	2.0	2.5	1278	$850	$0.67	14d	1	1.15mi
165 White Fawn Dr Unit MB Daytona Beach, FL	2.0	2.5	1278	$895	$0.70	14d	1	1.15mi
155 White Fawn Dr Daytona Beach, FL	2.0	2.5	1278	$1,600	$1.25	23d	1	1.16mi
1500 Alexis AVE Daytona Beach, FL	1.0–3.0	1.0–2.0	1003	$1,807	$1.80	11d	32	1.17mi
519 Colfax Dr Daytona Beach, FL	3.0	1.5	1288	$1,700	$1.32	23d	1	1.19mi
450 Jimmy Ann Dr Daytona Beach, FL	2.0	2.0	1170	$1,632	$1.39	19d	5	1.23mi
100 Alva Cir Daytona Beach, FL	1.0–3.0	1.0–2.0	1140	$1,900	$1.67	11d	12	1.29mi
625 Holmes Ave Daytona Beach, FL	2.0	1.0	768	$995	$1.30	21d	1	1.39mi
520 Zinfandel Dr Unit 1 Daytona Beach, FL	3.0	2.5	1463	$2,500	$1.71	23d	1	1.46mi
1820 Legends Ln Daytona Beach, FL	1.0–3.0	1.0–2.0	1076	$1,905	$1.77	11d	73	1.48mi
1610 N Clyde Morris Blvd Daytona Beach, FL	1.0–3.0	1.0–2.0	1020	$2,128	$2.09	19d	45	1.49mi

Listing history 3 events

1. 2025-05-16
   status Pending
2. 2025-03-12
   price $130,000
3. 2025-01-03
   listed $140,000 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: $2,406 · $201/mo
• Projected year-2 tax: $2,406 · $201/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,815
• − Mortgage interest: −$7,282
• − Property taxes: −$2,406
• − Insurance: −$650
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$3,782
• Taxable income: $1,684
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $3,222/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 — Daytona Beach

• Score: 83/100
• State rank: #46
• US rank: #867

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Daytona Beach, FL
• County: Volusia County · 556,871 people
• City population: 67,539
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 30,955
• Household income: $56,419
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1781.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 27% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 86% English-only · Spanish 8% Vietnamese 1% Other Indo-European 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: ▼ -96.62%
• Current HPI: 1084.54
• Rent YoY: ▲ 1.01%
• 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

-7.1% since first listed

3 events — show timeline

• 2025-05-16 Pending — realMLS
• 2025-03-12 Price Changed $130,000 realMLS
• 2025-01-03 Listed $140,000 realMLS

Property tax history

+19.4%/yr

Latest (2025): $2,406 · -2.8% YoY. Source: county tax records.