125 Pine Tree Dr · DeBary, FL 32713

$185,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 13 Days on market

Built 1990 4,400 sqft lot $64/mo HOA · 3% of rent ↓ 38% 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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Leisure World Park — a gated riverfront community in DeBary where you OWN the land with NO lot rent and enjoy direct access to the scenic St. Johns River! This 2 bedroom, 2 bathroom manufactured home was built after 1977, making it eligible for many financing and insurance options that older mobile homes may not qualify for. Major updates include a NEW ROOF in 2022 and NEW AC in 2024, offering peace of mind for the next owner. Leisure World Park, locally known as Meadowlea on the River, is a hidden gem featuring approximately 250 homes with NO age restrictions and a pet-friendly atmosphere. Residents enjoy a low HOA fee of just $63/month, which includes access to the commun

Key facts

• Clubhouse
• Community pool
• Private boat ramp

Tags

• GATED RIVERFRONT COMMUNITY
• NEW ROOF
• NEW AC
• COMMUNITY POOL
• CLUBHOUSE
• PRIVATE BOAT RAMP

Property features AI

Finance

• Other: Living area approximately 1,296 (public records); Lot about 0.1 acre (50 x 88)
• Financial info: Monthly association fees $64.60; total annual fees $775.20; Lease restrictions apply
• HOA & community: HOA: Meadowlea On The River; Monthly HOA fee of $64.60 (includes common area taxes, pool, escrow reserves fund, grounds maintenance, management, private road); Association approval required; Community amenities: pool, tennis courts, playground, golf-cart friendly, association-owned recreation, deed restrictions; Pets allowed (cats and dogs); Development: Leisure World Park

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity connected
• Home design: Manufactured double wide home; Single-story (one level); Faces west; Homestead property
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation; Built as a manufactured home
• Exterior features: Exterior lighting; Paved road access; Water access to river and marina; Boat ramp (private), minimum wake zone, skiing allowed

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Range; Refrigerator; Carpet flooring; Central heating; Central air
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 9.9% vs local median 3.7% in DeBary — 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 73/100 on livability (#312 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety 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: Debary Elementary School (math 62% / reading 65%, grade B, #564 of 2,144 statewide, top 27%, 915 students, 38% FRL); University High School (math 28% / reading 46%, grade F, #340 of 667 statewide, top 52%, 2,901 students, 49% FRL).
• Market conditions: Rents rising (+1.9%/yr); 273 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $67k; list at $185k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,946
• Equity at exit: $27,584

10-year hold

• IRR: 10.0%
• Equity multiple: 1.74×
• Total profit: $38,255
• Equity at exit: $15,995

Cash invested: $51,800 (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 32713

• Rents YoY: 1.9%
• Active inventory: 273
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,207 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$77 /mo · $919/yr
• Insurance: −$77
• HOA: −$64
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $556

Break-even live

Break-even rent $1,504

Max offer price $185,000

Occupancy floor 70%

Sensitivity live

Price	-10% $660	-5% $608	+0% $556	+5% $503	+10% $451
Rent	-10% $381	-5% $468	+0% $556	+5% $643	+10% $730
Rate	-1.0pp $649	-0.5pp $603	base $556	+0.5pp $508	+1.0pp $459

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
658 Reader Ln Debary, FL	3.0	2.5	1687	$2,295	$1.36	24d	1	0.76mi
1398 Captiva Cv Sanford, FL	3.0	2.5	1714	$2,195	$1.28	6d	1	1.38mi
1349 Captiva Cv Sanford, FL	3.0	2.5	1458	$2,295	$1.57	24d	1	1.44mi
1336 Captiva Cv Sanford, FL	3.0	2.5	1802	$2,495	$1.38	18d	1	1.45mi

HOA detail

• Monthly dues: $64 · $768/yr
• Likely covers: security

Listing history 13 events

1. 2026-06-09
   status $185,000 Pending 13 DOM
2. 2026-06-08
   days on market $185,000 Active 13 DOM
3. 2026-06-07
   days on market $185,000 Active 12 DOM
4. 2026-06-05
   days on market $185,000 Active 9 DOM
5. 2026-06-03
   days on market $185,000 Active 8 DOM
6. 2026-06-02
   days on market $185,000 Active 7 DOM
7. 2026-06-01
   days on market $185,000 Active 6 DOM
8. 2026-05-31
   days on market $185,000 Active 5 DOM
9. 2026-05-31
   days on market $185,000 Active 4 DOM
10. 2026-05-26
    listed $185,000 Active
11. 2003-12-30
    soldstatus $67,000
12. 1995-05-08
    soldstatus $16,000
13. 1978-09-01
    soldstatus $300,000

ⓘ 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: $919 · $77/mo
• Projected year-2 tax: $1,536 · $128/mo
• Expected delta: +$617/yr (+$51/mo · 67.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $26,481
• − Mortgage interest: −$10,363
• − Property taxes: −$919
• − Insurance: −$925
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − HOA: −$768
• − Depreciation: −$5,382
• Taxable income: $3,888
• Est. tax owed @ 24.0%: −$933
• After-tax cash flow: $5,734/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 — DeBary

• Score: 73/100
• State rank: #312
• US rank: #5314

Category grades

Amenities F Commute F Cost of living A- Crime A- Employment A+ Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeBary, FL
• County: Volusia County · 556,871 people
• City population: 22,884
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 22,884
• Household income: $88,500
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 265.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 6% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 1%
• Common ancestry: Lithuanian 2% Romanian 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 87% English-only · Spanish 10% Vietnamese 2% 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: ▼ -247.35%
• Current HPI: 294.803
• Rent YoY: ▲ 1.89%
• 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

-38.3% since first listed

4 events — show timeline

• 2026-05-26 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2003-12-30 Sold (Public Records) $67,000 Public Records
• 1995-05-08 Sold (Public Records) $16,000 Public Records
• 1978-09-01 Sold (Public Records) $300,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $919 · +6.2% YoY. Source: county tax records.