24 Medford Dr · Palm Coast, FL 32137

$499,000

4 bd · 3.0 ba · 1,722 sqft · SingleFamily public records · 246 Days on market

Built 1988 5,793 sqft lot Est $489k · at est. $250/mo HOA · 5% of rent

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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 +19.7/30.0
• ARV discount +6.6/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sea Colony is a great retreat community that is gated with tons of amenities! There is a private beach with a large heated pool so you can enjoy during the Florida winters. This two story home has tons of space for you, an office or craft room and guests! 3 Bedrooms upstairs with a spacious loft and master bedroom downstairs with access to the screened patio. Open family floor plan. There is a separate ''den'' which could be used by your imagination. This property is in its First Look period until 11/10/2011. During this period, owner occupants who occupy the home as their primary residence, can submit offers at any time. An Owner Occupancy certification must be signed. All investor and 2nd home buyers may submit offers, however they will not be considered until after the first look period s ended. This is a Fannie Mae Homepath property. Purchase this property for as little as 3% down. This property is approved for Homepath Financing and Homepath Renovation Financing. All information recorded in the MLS is intended to be accurate, but not guaranteed

Key facts

• New updated kitchen
• Large screened lanai
• Granite counter tops

Tags

• GATED OCEANFRONT COMMUNITY
• LARGE SCREENED LANAI
• NEW UPDATED KITCHEN
• GRANITE COUNTER TOPS
• NEW LPV FLOORING
• HEATED POOL

Property features AI

Finance

• Other: Deed restrictions; Sidewalks; Pets allowed (cats and dogs); Development: Sea Colony
• HOA & community: Has HOA (monthly fee $250); Association approval required; Association amenities include basketball court, clubhouse, gated entry, pool, security, shuffleboard court, spa/hot tub; HOA fee covers 24-hour guard, escrow reserves, management, private road, and security

Exterior

• Parking: Attached garage; 2-car garage (approx. 21 x 20) with garage door opener
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Single family residence; Two levels; Faces north; PUD zoning
• Construction: Vinyl siding; Shingle roof; Slab foundation; Builder: ITT, Model: Concord
• Exterior features: Vinyl fencing; Irrigation equipment; Paved road; Private maintained road; Lot dimensions approximately 50 x 100 (0.13 acre)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Solid surface counters
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; Solid surface counters; Split bedroom layout; Walk-in closets; Loft (additional room)
• Laundry & utility: Washer; Dryer; Laundry area in garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $499k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $499k).
• Recommended offer: $439k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.8% in Palm Coast — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: Old Kings Elementary School (math 74% / reading 72%, grade A, #271 of 2,144 statewide, top 13%, 979 students, 52% FRL); Matanzas High School (math 36% / reading 53%, grade F, #237 of 667 statewide, top 36%, 1,978 students, 48% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents flat; 1600 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $5,198/mo this rent would consume 74% of the median local household income ($84k/yr) (locally 816% 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 $3k of loan paydown is wiped out by about $15k 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 246 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago 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.
• Current owner paid $204k; list at $499k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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.

Recommended offer $439,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 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. 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. 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: 1.04% ✓
• Cap rate: 7.69%
• Cash-on-cash: 5.00%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $489,048
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 Medford Dr	0.03mi	3/2.5 (-1)	1,722 (0%)	6mo	$325,600	$189	87
30 Armand Beach Dr	0.27mi	3/3.0 (-1)	1,732 (+1%)	7mo	$417,500	$241	75
14 Dogwood Ter	0.11mi	3/2.0 (-1)	1,834 (+6%)	3mo	$520,000	$284	72
31 Andover Dr	0.37mi	3/2.5 (-1)	1,758 (+2%)	4mo	$325,000	$185	69
16 Avalon Ter	0.18mi	3/2.0 (-1)	1,842 (+7%)	3mo	$530,000	$288	68
45 Moody Dr	0.47mi	3/2.0 (-1)	1,728 (+0%)	5mo	$695,000	$402	64
12 Moody Dr	0.56mi	3/2.0 (-1)	1,746 (+1%)	1mo	$685,000	$392	61
35 Bedford Dr	0.22mi	3/2.5 (-1)	1,940 (+13%)	3mo	$450,000	$232	59
7 Bristol Dr	0.34mi	3/2.5 (-1)	1,906 (+11%)	4mo	$645,000	$338	56
4 Bedford Dr	0.32mi	3/2.0 (-1)	1,578 (-8%)	8mo	$344,000	$218	56
11 Seminole Ave	0.56mi	3/2.0 (-1)	1,632 (-5%)	5mo	$519,000	$318	52
23 Moody Dr	0.53mi	3/2.0 (-1)	1,948 (+13%)	6mo	$552,500	$284	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-58,851
• Equity at exit: $74,403

10-year hold

• IRR: -6.4%
• Equity multiple: 0.63×
• Total profit: $-51,537
• Equity at exit: $43,144

Cash invested: $139,720 (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: 1600
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $5,198 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$449 /mo · $5,389/yr
• Insurance: −$208
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$250
• Vacancy / Maint / Mgmt: −$1,091
• Net cashflow: $516

Break-even live

Break-even rent $4,545

Max offer price $499,000

Occupancy floor 85%

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Bedford Dr Palm Coast, FL	3.0	2.0	2032	$4,800	$2.36	23d	1	0.35mi
35 Andover Dr Unit 1060869P Palm Coast, FL	3.0	2.0	1496	$3,150	$2.11	14d	1	0.36mi
37 Atlantic Dr Palm Coast, FL	3.0	2.0	1501	$7,500	$5.00	23d	1	0.43mi
37 Atlantic Dr Unit 1261604P Palm Coast, FL	3.0	2.0	1991	$8,011	$4.02	23d	1	0.43mi
27 Mala Compra Rd Unit 1261612P Palm Coast, FL	3.0	2.0	1991	$7,806	$3.92	11d	1	0.56mi
20 Sabal Bnd Unit 1 Palm Coast, FL	3.0	2.5	1466	$2,100	$1.43	21d	1	1.41mi
200 Ocean Crest Dr #1111 Palm Coast, FL	3.0	3.0	1818	$7,000	$3.85	23d	1	1.43mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: poolsecurity

Listing history 18 events

1. 2026-06-18
   days on market $499,000 Active 246 DOM
2. 2026-06-17
   days on market $499,000 Active 245 DOM
3. 2026-06-16
   days on market $499,000 Active 244 DOM
4. 2026-06-15
   days on market $499,000 Active 243 DOM
5. 2026-06-14
   days on market $499,000 Active 241 DOM
6. 2026-06-13
   days on market $499,000 Active 240 DOM
7. 2026-06-10
   days on market $499,000 Active 238 DOM
8. 2026-06-09
   days on market $499,000 Active 237 DOM
9. 2026-06-08
   days on market $499,000 Active 236 DOM
10. 2026-06-07
    days on market $499,000 Active 235 DOM
11. 2026-06-03
    days on market $499,000 Active 231 DOM
12. 2026-06-02
    days on market $499,000 Active 230 DOM
13. 2026-06-01
    days on market $499,000 Active 229 DOM
14. 2026-05-31
    days on market $499,000 Active 228 DOM
15. 2025-10-15
    listed $525,000 Active
16. 2011-12-12
    soldstatus $204,250 1065-char remark

    Show marketing remark (1065 chars)

    Sea Colony is a great retreat community that is gated with tons of amenities! There is a private beach with a large heated pool so you can enjoy during the Florida winters. This two story home has tons of space for you, an office or craft room and guests! 3 Bedrooms upstairs with a spacious loft and master bedroom downstairs with access to the screened patio. Open family floor plan. There is a separate ''den'' which could be used by your imagination. This property is in its First Look period until 11/10/2011. During this period, owner occupants who occupy the home as their primary residence, can submit offers at any time. An Owner Occupancy certification must be signed. All investor and 2nd home buyers may submit offers, however they will not be considered until after the first look period s ended. This is a Fannie Mae Homepath property. Purchase this property for as little as 3% down. This property is approved for Homepath Financing and Homepath Renovation Financing. All information recorded in the MLS is intended to be accurate, but not guaranteed

17. 2011-10-26
    listed $204,250 1065-char remark

    Show marketing remark (1065 chars)

    Sea Colony is a great retreat community that is gated with tons of amenities! There is a private beach with a large heated pool so you can enjoy during the Florida winters. This two story home has tons of space for you, an office or craft room and guests! 3 Bedrooms upstairs with a spacious loft and master bedroom downstairs with access to the screened patio. Open family floor plan. There is a separate ''den'' which could be used by your imagination. This property is in its First Look period until 11/10/2011. During this period, owner occupants who occupy the home as their primary residence, can submit offers at any time. An Owner Occupancy certification must be signed. All investor and 2nd home buyers may submit offers, however they will not be considered until after the first look period s ended. This is a Fannie Mae Homepath property. Purchase this property for as little as 3% down. This property is approved for Homepath Financing and Homepath Renovation Financing. All information recorded in the MLS is intended to be accurate, but not guaranteed

18. 1988-12-01
    soldstatus $136,300

ⓘ 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: $5,389 · $449/mo
• Projected year-2 tax: $5,389 · $449/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 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°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: $62,370
• − Mortgage interest: −$27,952
• − Property taxes: −$5,389
• − Insurance: −$3,292
• − Repairs & maintenance: −$4,990
• − Management: −$4,990
• − HOA: −$3,000
• − Depreciation: −$14,516
• Taxable loss: −$1,759
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $6,611/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

• 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

+285.2% since first listed

4 events — show timeline

• 2025-10-15 Listed $525,000 Stellar MLS as Distributed by MLS Grid
• 2011-12-12 Sold (MLS) $204,250 Daytona MLS
• 2011-10-26 Listed $204,250 Daytona MLS
• 1988-12-01 Sold (Public Records) $136,300 Public Records

Property tax history

+11.4%/yr

Latest (2025): $5,389 · -3.2% YoY. Source: county tax records.