1662 Great Osprey Way · Edgewater, FL 32168

$274,990

3 bd · 2.5 ba · 1,463 sqft · Land · 168 Days on market

Built 2026 ↓ 4% 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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Rent growth +3.9/5.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The property is located at 1662 Great Osprey Way NEW SMYRNA BEACH FL 32168 priced at 278990, the square foot and stories are 1463, 2.The number of bath is 2, halfbath is 1 there are 3 bedrooms and 1 garages. For more details please, call or email.

Key facts

• Garage
• Built 2026
• Listed 168 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $275k.

Deal economics

• At list price, monthly cash flow is $15 ($178/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#329 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, 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.
• Market conditions: Rents rising fast (+5.6%/yr); 601 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• At $2,964/mo this rent would consume 46% of the median local household income ($77k/yr) (locally 1139% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 168 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,991 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.54×
• Total profit: $-35,352
• Equity at exit: $41,002

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $6,114
• Equity at exit: $23,776

Cash invested: $76,997 (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 32168

• Home prices YoY: -27.0%
• Rents YoY: 5.6%
• Active inventory: 601
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,964 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $15

Break-even live

Break-even rent $2,945

Max offer price $274,990

Occupancy floor 94%

Sensitivity live

Price	-10% $205	-5% $110	+0% $15	+5% $-80	+10% $-175
Rent	-10% $-219	-5% $-102	+0% $15	+5% $132	+10% $249
Rate	-1.0pp $153	-0.5pp $85	base $15	+0.5pp $-56	+1.0pp $-129

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: $68,748
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1822 Red Rock Rd New Smyrna Beach, FL	3.0	2.0	1697	$3,000	$1.77	24d	1	0.29mi
2219 Lake Preserve Cir New Smyrna Beach, FL	4.0	2.0	1828	$3,400	$1.86	24d	1	0.55mi

Listing history 21 events

1. 2026-06-18
   days on market $274,990 Active 168 DOM
2. 2026-06-17
   price $274,990 Active 167 DOM
3. 2026-06-17
   days on market $278,990 Active 167 DOM
4. 2026-06-16
   days on market $278,990 Active 166 DOM
5. 2026-06-15
   days on market $278,990 Active 165 DOM
6. 2026-06-14
   days on market $278,990 Active 163 DOM
7. 2026-06-10
   days on market $278,990 Active 160 DOM
8. 2026-06-09
   days on market $278,990 Active 159 DOM
9. 2026-06-08
   days on market $278,990 Active 158 DOM
10. 2026-06-07
    days on market $278,990 Active 157 DOM
11. 2026-06-05
    days on market $278,990 Active 154 DOM
12. 2026-06-03
    days on market $278,990 Active 153 DOM
13. 2026-06-03
    days on market $278,990 Active 152 DOM
14. 2026-06-01
    days on market $278,990 Active 151 DOM
15. 2026-05-31
    days on market $278,990 Active 150 DOM
16. 2026-05-31
    days on market $278,990 Active 149 DOM
17. 2026-04-23
    price $278,990 247-char remark

    Show marketing remark (247 chars)

    The property is located at 1662 Great Osprey Way NEW SMYRNA BEACH FL 32168 priced at 278990, the square foot and stories are 1463, 2.The number of bath is 2, halfbath is 1 there are 3 bedrooms and 1 garages. For more details please, call or email.

18. 2026-04-16
    price $281,990 247-char remark

    Show marketing remark (247 chars)

    The property is located at 1662 Great Osprey Way NEW SMYRNA BEACH FL 32168 priced at 278990, the square foot and stories are 1463, 2.The number of bath is 2, halfbath is 1 there are 3 bedrooms and 1 garages. For more details please, call or email.

19. 2026-03-04
    price $286,990 247-char remark

    Show marketing remark (247 chars)

    The property is located at 1662 Great Osprey Way NEW SMYRNA BEACH FL 32168 priced at 278990, the square foot and stories are 1463, 2.The number of bath is 2, halfbath is 1 there are 3 bedrooms and 1 garages. For more details please, call or email.

20. 2026-01-06
    price $291,990 247-char remark

    Show marketing remark (247 chars)

    The property is located at 1662 Great Osprey Way NEW SMYRNA BEACH FL 32168 priced at 278990, the square foot and stories are 1463, 2.The number of bath is 2, halfbath is 1 there are 3 bedrooms and 1 garages. For more details please, call or email.

21. 2026-01-01
    listed $289,990 Active 247-char remark

    Show marketing remark (247 chars)

    The property is located at 1662 Great Osprey Way NEW SMYRNA BEACH FL 32168 priced at 278990, the square foot and stories are 1463, 2.The number of bath is 2, halfbath is 1 there are 3 bedrooms and 1 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.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,571
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$6,493
• − Repairs & maintenance: −$2,846
• − Management: −$2,846
• − Depreciation: −$8,000
• Taxable loss: −$4,142
• Est. tax savings @ 24.0%: +$994
• After-tax cash flow: $1,172/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 — Edgewater

• Score: 72/100
• State rank: #329
• US rank: #5753

Category grades

Amenities D- Commute F Cost of living A+ 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: Edgewater, FL
• County: Volusia County · 556,871 people
• City population: 18,726
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 31,847
• Household income: $77,083
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1139.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -129.58%
• Current HPI: 350.4259
• Rent YoY: ▲ 5.60%
• 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

-3.8% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $278,990 Zillow
• 2026-04-16 Price Changed $281,990 Zillow
• 2026-03-04 Price Changed $286,990 Zillow
• 2026-01-06 Price Changed $291,990 Zillow
• 2026-01-01 Listed $289,990 Zillow