111 Cedar St · Edgewater, FL 32141

$125,000

2 bd · 2.0 ba · 928 sqft · Manufactured public records · 35 Days on market

Built 1988 5,662 sqft lot $290/mo HOA · 15% of rent

---

Why this score? — see what drove the B- 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 +27.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2bedroom 2 bath is really bigger then it looks. The Master bedroom is open to the master bath with a garden tub with a skylight, a shower and a private toilet room. The open floor plan carries over into the kitchen/living room. Located near the river with access to 2 swimming pools, a dock, boat launch and clubhouse. A perfect get away for river fun or winter home. PRICE IS FIRM.

Key facts

• Outdoor recreation
• Fishing pier
• Bocce ball

Tags

• WATERFRONT COMMUNITY
• FISHING PIER
• BOAT RAMP
• OUTDOOR RECREATION
• SHUFFLEBOARD
• BOCCE BALL

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $290 (includes maintenance of grounds); Community amenities include barbecue, basketball court, boat dock, boat slip, car wash area, clubhouse, grounds maintenance, pool, RV/boat storage, shuffleboard court, storage

Exterior

• Parking: Attached carport; Carport with 1 space; Off-street parking; RV access/parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected with 100 amp service; Cable available
• Home design: Single-family residence (manufactured home); One story; Entry on level 1; Faces south; Updated/remodeled
• Construction: Aluminum siding; Metal roof; Concrete perimeter, raised foundation; Built or listed as a manufactured home
• Exterior features: Boat slip; Covered patio; Screened patio; Side porch; Shed(s); Workshop; Few trees; Paved road frontage on a county road

Interior

• Kitchen: Refrigerator; Electric oven; Electric cooktop; Dishwasher
• Bedrooms: Bedrooms located on main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Breakfast bar; Built-in features; Ceiling fans; Eat-in kitchen; His and hers closets; Pantry; Vaulted ceilings; Walk-in closets; Skylights; Unfurnished
• Laundry & utility: Washer hookup in unit; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% 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.
• Zoned schools: Indian River Elementary School (math 57% / reading 55%, grade C+, #832 of 2,144 statewide, top 40%, 613 students, 61% FRL); New Smyrna Beach Middle School (math 43% / reading 43%, grade D-, #331 of 571 statewide, top 59%, 1,037 students, 53% FRL); New Smyrna Beach High School (math 34% / reading 52%, grade F, #255 of 667 statewide, top 39%, 1,810 students, 41% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 304 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 36% of the median local income ($64k/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 $864 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 35 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $125k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.52% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,977
• Equity at exit: $18,638

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $22,497
• Equity at exit: $10,808

Cash invested: $35,000 (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 32141

• Home prices YoY: -19.2%
• Active inventory: 304
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$154 /mo · $1,844/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$290
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $283

Break-even live

Break-even rent $1,541

Max offer price $125,000

Occupancy floor 80%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 River Park Blvd Edgewater, FL	2.0	1.0	1000	$1,700	$1.70	14d	1	0.16mi
4340 Whiting Way Edgewater, FL	1.0	1.0	570	$1,700	$2.98	23d	1	0.28mi
189 Lewis St Edgewater, FL	2.0	2.0	768	$2,200	$2.86	23d	1	0.68mi

HOA detail

• Monthly dues: $290 · $3,480/yr
• Likely covers: pool

Listing history 33 events

1. 2026-06-18
   days on market $125,000 Active 35 DOM
2. 2026-06-17
   days on market $125,000 Active 34 DOM
3. 2026-06-16
   days on market $125,000 Active 33 DOM
4. 2026-06-15
   days on market $125,000 Active 32 DOM
5. 2026-06-14
   days on market $125,000 Active 30 DOM
6. 2026-06-10
   days on market $125,000 Active 27 DOM
7. 2026-06-09
   days on market $125,000 Active 26 DOM
8. 2026-06-08
   days on market $125,000 Active 25 DOM
9. 2026-06-07
   days on market $125,000 Active 24 DOM
10. 2026-06-05
    pricedays on market $125,000 Active 21 DOM
11. 2026-06-03
    days on market $130,000 Active 20 DOM
12. 2026-06-03
    days on market $130,000 Active 19 DOM
13. 2026-06-01
    days on market $130,000 Active 18 DOM
14. 2026-05-31
    days on market $130,000 Active 17 DOM
15. 2026-05-31
    days on market $130,000 Active 16 DOM
16. 2026-05-13
    listed $135,000 Active 997-char remark
17. 2014-06-12
    soldstatus $32,500 387-char remark

    Show marketing remark (400 chars)

    This 2bedroom 2 bath is really bigger then it looks. The Master bedroom is open to the master bath with a garden tub with a skylight, a shower and a private toilet room. The open floor plan carries over into the kitchen/living room. Located near the river with access to 2 swimming pools, a dock, boat launch and clubhouse. A perfect get away for river fun or winter home. PRICE IS FIRM. ;Water: City

18. 2014-06-12
    soldstatus $32,500

    Show marketing remark (400 chars)

    This 2bedroom 2 bath is really bigger then it looks. The Master bedroom is open to the master bath with a garden tub with a skylight, a shower and a private toilet room. The open floor plan carries over into the kitchen/living room. Located near the river with access to 2 swimming pools, a dock, boat launch and clubhouse. A perfect get away for river fun or winter home. PRICE IS FIRM. ;Water: City

19. 2013-07-13
    listed $36,000 387-char remark

    Show marketing remark (400 chars)

    This 2bedroom 2 bath is really bigger then it looks. The Master bedroom is open to the master bath with a garden tub with a skylight, a shower and a private toilet room. The open floor plan carries over into the kitchen/living room. Located near the river with access to 2 swimming pools, a dock, boat launch and clubhouse. A perfect get away for river fun or winter home. PRICE IS FIRM. ;Water: City

20. 2013-07-13
    listed $36,000

    Show marketing remark (400 chars)

    This 2bedroom 2 bath is really bigger then it looks. The Master bedroom is open to the master bath with a garden tub with a skylight, a shower and a private toilet room. The open floor plan carries over into the kitchen/living room. Located near the river with access to 2 swimming pools, a dock, boat launch and clubhouse. A perfect get away for river fun or winter home. PRICE IS FIRM. ;Water: City

21. 2013-07-03
    historical
22. 2013-07-03
    historical
23. 2013-06-24
    historical
24. 2012-03-10
    listed $39,900
25. 2012-02-06
    listed $39,900
26. 2011-08-07
    historical
27. 2011-06-10
    listed $48,000
28. 2009-08-18
    listed
29. 2009-08-18
    listed $39,900
30. 2005-06-06
    soldstatus $60,000
31. 1996-08-19
    soldstatus $45,000
32. 1988-10-01
    soldstatus $14,500
33. 1987-05-01
    soldstatus $14,000

ⓘ 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: $1,844 · $154/mo
• Projected year-2 tax: $1,844 · $154/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 7/10 Severe FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,798
• − Mortgage interest: −$7,002
• − Property taxes: −$1,844
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − HOA: −$3,480
• − Depreciation: −$3,636
• Taxable income: $1,765
• Est. tax owed @ 24.0%: −$424
• After-tax cash flow: $2,974/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

• County: Volusia County · 556,871 people
• City population: 18,726
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 18,726
• Household income: $63,936
• Rent vs Own: 6.2% rent · 93.8% own
• Severe rent burden: 161.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 2% 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: ▼ -80.12%
• Current HPI: 337.8301
• Rent YoY: —
• 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

+792.9% since first listed

20 events — show timeline

• 2026-06-04 Price Changed $125,000 Daytona MLS
• 2026-05-21 Price Changed $130,000 Daytona MLS
• 2026-05-13 Listed $135,000 Daytona MLS
• 2014-06-12 Sold (MLS) $32,500 Stellar MLS as Distributed by MLS Grid
• 2014-06-12 Sold (MLS) $32,500 NSBMLS
• 2013-07-13 Listed $36,000 Stellar MLS as Distributed by MLS Grid
• 2013-07-13 Listed $36,000 NSBMLS
• 2013-07-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2013-07-03 Delisted — NSBMLS
• 2013-06-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2012-03-10 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2012-02-06 Listed $39,900 Daytona MLS
• 2011-08-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-06-10 Listed $48,000 Stellar MLS as Distributed by MLS Grid
• 2009-08-18 Listed $39,900 Stellar MLS as Distributed by MLS Grid
• 2009-08-18 Listed — NSBMLS
• 2005-06-06 Sold (Public Records) $60,000 Public Records
• 1996-08-19 Sold (Public Records) $45,000 Public Records
• 1988-10-01 Sold (Public Records) $14,500 Public Records
• 1987-05-01 Sold (Public Records) $14,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,844 · +2.0% YoY. Source: county tax records.