55 Crooked Pine Rd

Port Orange, FL 32128

$243,000D

3 bd · 2.0 ba · 1,775 sqft · Built 1987 · SingleFamily · Active · 280 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,368/mo
• Mortgage (P&I): −$1,274
• Tax + insurance: −$190
• HOA: −$370
• Vac / Maint / Mgmt: −$497
• Net cashflow: $36/mo
• Annual: $430/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.97%
• Cash to close: $68,040

Investor read

• This is a 3-bed/2.0-bath single-family listed at $243k.
• At list price, monthly cash flow is $36 ($430/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (2.6% below list).
• It's been on market 280 days — a 12% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $214k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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: Sweetwater Elementary School (math 80% / reading 79%, grade A, #116 of 2,144 statewide, top 6%, 694 students, 38% 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 64% at this address vs 46% district-wide (+18 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.
• Market conditions: Rents soft (-2.3%/yr); 275 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 2 sale attempts; this cycle's ask has dropped $72k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.

Questions for listing agent

• It's been on market 280 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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.