Lake Manor Plan · Ormond Beach, FL 32174

$139,900

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 513 Days on market

Excellent condition $560/mo HOA · 25% 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 +22.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Condition / age +4.8/5.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bed 2 bath home with a front porch, 2-tone siding, and oversized screen room and carport has blow-you-away curb appeal. The interior of this home is highly-optioned with fully taped and textured walls, painted accent walls in the living areas and bedrooms, pendant lights above the kitchen island, stainless steel appliances with built in microwave, and so much more!

Key facts

• 2-tone siding
• Painted accent walls
• Front porch

Tags

• FRONT PORCH
• 2-TONE SIDING
• OVERSIZED SCREEN ROOM
• CARPORT
• FULLY TAPED AND TEXTURED WALLS
• PAINTED ACCENT WALLS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.9% in Ormond Beach — 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 83/100 on livability (#55 in FL, #965 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: 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 (+1.6%/yr); 985 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 38% of the median local income ($71k/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 $967 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 513 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 513 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 1.59% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-10,779
• Equity at exit: $20,860

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,139
• Equity at exit: $12,096

Cash invested: $39,172 (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 32174

• Rents YoY: 1.6%
• Active inventory: 985
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,221 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$560
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $228

Break-even live

Break-even rent $1,933

Max offer price $139,900

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1953 Nelson Ave Ormond Beach, FL	4.0	1.5	1600	$2,000	$1.25	23d	1	0.64mi
559 Cameo Dr Ormond Beach, FL	3.0	2.5	1668	$2,310	$1.38	23d	1	0.64mi
67 Brookwood Dr Ormond Beach, FL	3.0	2.0	1602	$2,500	$1.56	23d	1	0.70mi
51 Brookwood Dr Ormond Beach, FL	3.0	2.0	1791	$2,100	$1.17	23d	1	0.74mi
35 Magnolia Ave Unit 35 Ormond Beach, FL	2.0	2.0	1300	$1,800	$1.38	23d	1	0.78mi
1088 W Granada Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	950	$1,570	$1.65	11d	8	0.96mi
36 Spring Meadows Dr Ormond Beach, FL	3.0	2.0	2036	$2,700	$1.33	23d	1	1.04mi
25 Cherokee Trl Ormond Beach, FL	3.0	3.0	2056	$2,600	$1.26	14d	1	1.07mi
450 Tomoka Ave Unit 215 Ormond Beach, FL	2.0	1.5	1150	$1,750	$1.52	14d	1	1.08mi
1767 Valencia Ave Ormond Beach, FL	4.0	2.0	1216	$2,100	$1.73	23d	1	1.10mi
145 Green Forest Dr Ormond Beach, FL	3.0	2.0	1625	$2,200	$1.35	23d	1	1.13mi
500 Shadow Lakes Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	856	$1,645	$1.92	11d	15	1.19mi
402 Fleming Ave Ormond Beach, FL	3.0	2.0	1495	$2,560	$1.71	21d	1	1.23mi
7 Stone Haven Trl Ormond Beach, FL	3.0	2.0	1678	$2,200	$1.31	19d	1	1.28mi
1420 Alabama Ave Daytona Beach, FL	4.0	2.0	1367	$1,824	$1.33	19d	1	1.28mi
162 Pine Cone Trl Ormond Beach, FL	3.0	2.0	1555	$2,100	$1.35	14d	1	1.28mi
188 Birch Tree Pl Daytona Beach, FL	4.0	2.0	1846	$2,700	$1.46	23d	1	1.39mi
1435 Atlanta Dr Daytona Beach, FL	3.0	1.0	1200	$1,800	$1.50	23d	1	1.39mi
1235 Alcazar St Daytona Beach, FL	3.0	2.0	1498	$2,100	$1.40	23d	1	1.46mi

HOA detail

• Monthly dues: $560 · $6,720/yr

Listing history 18 events

1. 2026-06-18
   days on market $139,900 Active 513 DOM
2. 2026-06-17
   days on market $139,900 Active 512 DOM
3. 2026-06-16
   days on market $139,900 Active 511 DOM
4. 2026-06-15
   days on market $139,900 Active 510 DOM
5. 2026-06-14
   days on market $139,900 Active 508 DOM
6. 2026-06-10
   days on market $139,900 Active 505 DOM
7. 2026-06-09
   days on market $139,900 Active 504 DOM
8. 2026-06-08
   days on market $139,900 Active 503 DOM
9. 2026-06-07
   days on market $139,900 Active 502 DOM
10. 2026-06-05
    days on market $139,900 Active 499 DOM
11. 2026-06-03
    days on market $139,900 Active 498 DOM
12. 2026-06-03
    days on market $139,900 Active 497 DOM
13. 2026-06-01
    days on market $139,900 Active 496 DOM
14. 2026-05-31
    days on market $139,900 Active 495 DOM
15. 2026-05-31
    days on market $139,900 Active 494 DOM
16. 2025-05-01
    status Active 374-char remark

    Show marketing remark (374 chars)

    This 3 bed 2 bath home with a front porch, 2-tone siding, and oversized screen room and carport has blow-you-away curb appeal. The interior of this home is highly-optioned with fully taped and textured walls, painted accent walls in the living areas and bedrooms, pendant lights above the kitchen island, stainless steel appliances with built in microwave, and so much more!

17. 2025-05-01
    historical 374-char remark

    Show marketing remark (374 chars)

    This 3 bed 2 bath home with a front porch, 2-tone siding, and oversized screen room and carport has blow-you-away curb appeal. The interior of this home is highly-optioned with fully taped and textured walls, painted accent walls in the living areas and bedrooms, pendant lights above the kitchen island, stainless steel appliances with built in microwave, and so much more!

18. 2025-01-21
    listed $139,900 Active 374-char remark

    Show marketing remark (374 chars)

    This 3 bed 2 bath home with a front porch, 2-tone siding, and oversized screen room and carport has blow-you-away curb appeal. The interior of this home is highly-optioned with fully taped and textured walls, painted accent walls in the living areas and bedrooms, pendant lights above the kitchen island, stainless steel appliances with built in microwave, and so much more!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,653
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,132
• − Management: −$2,132
• − HOA: −$6,720
• − Depreciation: −$4,070
• Taxable income: $964
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,503/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from some exterior painting and landscaping to further enhance its curb appeal.

Value-add opportunities

• Resale Painting the exterior siding and front porch — Fresh paint can enhance curb appeal and make the home more attractive to potential buyers.
• Resale Landscaping the front yard — Well-maintained landscaping can improve the home's curb appeal and make it more attractive to potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding and front porch — Fresh paint can enhance curb appeal and make the home more attractive to potential buyers. ↑
• Resale Landscaping the front yard — Well-maintained landscaping can improve the home's curb appeal and make it more attractive to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Ormond Beach

• Score: 83/100
• State rank: #55
• US rank: #965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ormond Beach, FL
• County: Volusia County · 556,871 people
• City population: 69,624
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 54,783
• Household income: $71,011
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 1158.0

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 (82%)
• Race & ethnicity: White 82% Black 6% Hispanic / Latino 5% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -327.97%
• Current HPI: 271.92
• Rent YoY: ▲ 1.64%
• 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 events — show timeline

• 2025-05-01 Relisted — Zillow
• 2025-05-01 Delisted — Zillow
• 2025-01-21 Listed $139,900 Zillow