Highgate Plan · Ormond Beach, FL 32174

$345,990

4 bd · 2.0 ba · 1,850 sqft · SingleFamily · 423 Days on market

↓ 7% since listing

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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
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Cash flow +1.8/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

Key facts

• 2 garage spots
• Listed 423 days

Tags

• OPEN-CONCEPT FLOOR PLAN
• KITCHEN OVERLOOKS CAFE
• SPACIOUS GATHERING ROOM
• OPTIONAL PATIO EXTENSION
• PRIVATE OWNER'S SUITE

🏗️ New construction. The $345,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $665,252.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $346k.

Deal economics

• At list price, monthly cash flow is $-2k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (23.2% below list).
• Recommended offer: $266k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 1.8% vs local median 3.8% in Ormond Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 989 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 45% 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 $5k of loan paydown is wiped out by about $20k 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 423 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,673 (23.2% 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 423 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.40% ✗
• Cap rate: 1.79%
• Cash-on-cash: -16.10%
• DSCR: 0.28
• GRM: 20.9

CMA / ARV

• ARV (median comp): $665,252
• List price: $345,990
• Delta: -47.99%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -49.1%
• Equity multiple: -0.45×
• Total profit: $-270,483
• Equity at exit: $99,191

10-year hold

• IRR: —
• Equity multiple: -1.44×
• Total profit: $-454,605
• Equity at exit: $57,519

Cash invested: $186,271 (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: 989
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,657 high
• Mortgage (P&I): −$3,489
• Tax est. 1.5%: −$832 /mo · $9,979/yr
• Insurance: −$277
• HOA: −$0
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $-2,499

Break-even live

Break-even rent $5,820

Max offer price $303,702

Occupancy floor —

Sensitivity live

Price	-10% $-2,039	-5% $-2,269	+0% $-2,499	+5% $-2,728	+10% $-2,958
Rent	-10% $-2,708	-5% $-2,604	+0% $-2,499	+5% $-2,394	+10% $-2,289
Rate	-1.0pp $-2,164	-0.5pp $-2,329	base $-2,499	+0.5pp $-2,671	+1.0pp $-2,846

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: $166,313
• Closing costs: $19,958
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.38mi
1028 Kilkenny Ln Ormond Beach, FL	3.0	2.0	1501	$2,400	$1.60	4d	1	0.88mi
1427 Carlow Cir Ormond Beach, FL	3.0	2.0	1684	$2,059	$1.22	25d	1	0.98mi
3132 Connemara Dr Ormond Beach, FL	3.0	2.0	1670	$2,200	$1.32	21d	1	1.36mi
1033 Hampstead Ln Ormond Beach, FL	3.0	2.5	2591	$4,000	$1.54	4d	1	1.48mi
3209 Bailey Ann Dr Ormond Beach, FL	3.0	2.0	2331	$2,395	$1.03	4d	1	1.49mi

Listing history 22 events

1. 2026-06-22
   days on market $345,990 Active 423 DOM
2. 2026-06-18
   days on market $345,990 Active 420 DOM
3. 2026-06-17
   days on market $345,990 Active 419 DOM
4. 2026-06-16
   days on market $345,990 Active 418 DOM
5. 2026-06-15
   days on market $345,990 Active 417 DOM
6. 2026-06-14
   days on market $345,990 Active 415 DOM
7. 2026-06-10
   days on market $345,990 Active 412 DOM
8. 2026-06-09
   days on market $345,990 Active 411 DOM
9. 2026-06-08
   days on market $345,990 Active 410 DOM
10. 2026-06-07
    pricedays on market $345,990 Active 409 DOM
11. 2026-06-05
    days on market $342,990 Active 406 DOM
12. 2026-06-03
    days on market $342,990 Active 405 DOM
13. 2026-06-03
    days on market $342,990 Active 404 DOM
14. 2026-06-01
    days on market $342,990 Active 403 DOM
15. 2026-05-31
    days on market $342,990 Active 402 DOM
16. 2026-05-31
    days on market $342,990 Active 401 DOM
17. 2026-01-15
    price $342,990 387-char remark

    Show marketing remark (387 chars)

    The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

18. 2025-10-12
    price $377,990 387-char remark

    Show marketing remark (387 chars)

    The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

19. 2025-09-17
    price $375,990 387-char remark

    Show marketing remark (387 chars)

    The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

20. 2025-07-23
    price $373,990 387-char remark

    Show marketing remark (387 chars)

    The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

21. 2025-04-27
    price $371,990 387-char remark

    Show marketing remark (387 chars)

    The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

22. 2025-04-25
    listed $369,990 Active 387-char remark

    Show marketing remark (387 chars)

    The Highgate features abundant natural light in its open-concept floor plan. This new construction home features a kitchen that overlooks the café and a spacious gathering room, making entertaining a breeze. Upgrade your indoor-outdoor entertainment with the optional patio extension. After entertaining your guests, retreat to the private owner's suite and 3 additional bedrooms.

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 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: $31,881
• − Mortgage interest: −$37,264
• − Property taxes: −$9,979
• − Insurance: −$3,326
• − Repairs & maintenance: −$2,550
• − Management: −$2,550
• − Depreciation: −$19,353
• Taxable loss: −$43,142
• Est. tax savings @ 24.0%: +$10,354
• After-tax cash flow: $-19,629/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

• 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

-7.3% since first listed

6 events — show timeline

• 2026-01-15 Price Changed $342,990 Zillow
• 2025-10-12 Price Changed $377,990 Zillow
• 2025-09-17 Price Changed $375,990 Zillow
• 2025-07-23 Price Changed $373,990 Zillow
• 2025-04-27 Price Changed $371,990 Zillow
• 2025-04-25 Listed $369,990 Zillow