1304 Hillcrest Dr

Daytona Beach, FL 32114

$149,000C

3 bd · 1.0 ba · 1,206 sqft · Built 1953 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,609/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $242/mo
• Annual: $2,901/yr
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $41,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#46 in FL, #867 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment 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: Turie T. Small Elementary School (math 35% / reading 29%, grade F, #1,797 of 2,144 statewide, top 86%, 383 students, 91% FRL); Campbell Middle School (math 28% / reading 30%, grade F, #479 of 571 statewide, top 84%, 855 students, 80% FRL); Mainland High School (math 30% / reading 37%, grade F, #400 of 667 statewide, top 61%, 1,855 students, 64% FRL) — zoned schools average 78% FRL vs 51% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 46% district-wide (-15 pts) — the specific schools serving this property underperform the Volusia average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.6%/yr); 317 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $31k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $149k implies a 108% gain — meaningful room to come down on a strong offer.
• 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.
• At $1,609/mo this rent would consume 46% of the median local household income ($42k/yr) (locally 2772% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.