504 Sandpiper Ct · Edgewater, FL 32141

$265,000

3 bd · 2.0 ba · 1,176 sqft · SingleFamily public records · 3 Days on market

Built 1996 7,500 sqft lot $13/mo HOA · 1% of rent

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Why this score? — see what drove the D- 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 +11.6/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single Family Home, tenant occupied

Key facts

• Open floor plan
• Ample counter space
• Double gate

Tags

• OPEN FLOOR PLAN
• AMPLE COUNTER SPACE
• FULLY FENCED LOT
• DOUBLE GATE
• SCREENED-IN PATIO
• OPTIONAL HOA COMMUNITY

Property features AI

Finance

• Other: Homestead exempt; Direction faces east
• HOA & community: Has HOA (optional fees); Annual association fee $165 (approx. $13.75/month); Pets allowed; Development: Pelican Cove West

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available
• Home design: Single family residence; One story; Faces east
• Construction: Block construction; Shingle roof; Slab foundation; Built on 0 to less than 1/4 acre lot
• Exterior features: Covered rear porch; Screened porch; Sliding doors; Wood fencing; Shed(s); Oversized lot; Asphalt road

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; High ceilings; Open floorplan; Living room/dining room combo; Walk-in closet(s)
• Laundry & utility: Laundry in garage; Irrigation equipment

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-80 ($-962/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (19.8% below list).
• Recommended offer: $212k (19.8% below list) — sets the bar for 1% rule.

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: Edgewater Public School (math 67% / reading 52%, grade B-, #690 of 2,144 statewide, top 34%, 504 students, 64% 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 53% FRL track the district average.
• Market conditions: 304 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 40% 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 $2k of loan paydown is wiped out by about $8k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 28y 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 $195k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $212,450 (19.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.80% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 10.4

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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-48,062
• Equity at exit: $39,512

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-48,480
• Equity at exit: $22,912

Cash invested: $74,200 (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: 10.4×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$245 /mo · $2,945/yr
• Insurance: −$110
• HOA: −$13
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-80

Break-even live

Break-even rent $2,226

Max offer price $250,833

Occupancy floor 99%

Sensitivity live

Price	-10% $70	-5% $-5	+0% $-80	+5% $-155	+10% $-230
Rent	-10% $-248	-5% $-164	+0% $-80	+5% $4	+10% $88
Rate	-1.0pp $53	-0.5pp $-13	base $-80	+0.5pp $-149	+1.0pp $-219

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2314 Fern Palm Dr Unit 2314 Edgewater, FL	2.0	2.0	1200	$1,700	$1.42	19d	1	0.18mi
1000 Egret Ct Edgewater, FL	2.0	2.0	1051	$2,400	$2.28	24d	1	0.25mi
2330 India Palm Dr Edgewater, FL	2.0	2.0	1025	$1,499	$1.46	15d	1	0.29mi
2421 India Palm Dr Edgewater, FL	3.0	2.0	1358	$2,150	$1.58	19d	1	0.38mi
2515 Fern Palm Dr Edgewater, FL	3.0	2.0	1400	$2,200	$1.57	11d	1	0.45mi
2621 India Palm Dr Edgewater, FL	3.0	2.0	1269	$2,400	$1.89	24d	1	0.62mi
2219 Umbrella Tree Dr Edgewater, FL	3.0	2.0	1446	$2,300	$1.59	24d	1	0.83mi
120 Hardin Pl Edgewater, FL	3.0	2.0	1455	$2,075	$1.43	15d	1	0.88mi
1822 Royal Palm Dr Edgewater, FL	3.0	2.0	1400	$1,620	$1.16	15d	1	0.90mi
121 W Marion Ave Edgewater, FL	2.0	2.0	1020	$1,250	$1.23	24d	1	1.02mi
2827 Royal Palm Dr Edgewater, FL	3.0	2.0	1212	$1,900	$1.57	24d	1	1.10mi
3120 Juniper Dr Edgewater, FL	3.0	2.0	1440	$2,150	$1.49	24d	1	1.40mi
3208 India Palm Dr Edgewater, FL	2.0	2.0	990	$1,550	$1.57	11d	1	1.48mi

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 5 events

1. 2026-06-19
   status $265,000 Pending 3 DOM
2. 2026-06-18
   days on market $265,000 Active 3 DOM
3. 2026-06-17
   days on market $265,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $265,000 Active 1 DOM

ⓘ 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: $2,945 · $245/mo
• Projected year-2 tax: $2,945 · $245/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $25,494
• − Mortgage interest: −$14,844
• − Property taxes: −$2,945
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,040
• − Management: −$2,040
• − HOA: −$156
• − Depreciation: −$7,709
• Taxable loss: −$5,565
• Est. tax savings @ 24.0%: +$1,336
• After-tax cash flow: $373/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

• Census place: Edgewater, FL
• 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

+249.1% since first listed

16 events — show timeline

• 2026-06-15 Listed $265,000 Stellar MLS as Distributed by MLS Grid
• 2021-05-04 Sold (Public Records) $195,000 Public Records
• 2021-04-29 Sold (MLS) $195,000 Stellar MLS as Distributed by MLS Grid
• 2021-04-09 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-03-30 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2010-07-23 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-07-23 Delisted — NSBMLS
• 2010-03-17 Listed $149,500 Stellar MLS as Distributed by MLS Grid
• 2010-03-17 Listed — NSBMLS
• 1999-03-09 Sold (Public Records) $76,000 Public Records
• 1999-02-26 Sold (MLS) $76,000 NSBMLS
• 1999-02-26 Sold (MLS) $76,000 Stellar MLS as Distributed by MLS Grid
• 1999-01-31 Delisted — NSBMLS
• 1998-05-02 Listed $84,900 NSBMLS
• 1998-05-02 Listed $84,900 Stellar MLS as Distributed by MLS Grid
• 1996-10-23 Sold (Public Records) $75,900 Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,945 · +4.5% YoY. Source: county tax records.