76 Eagle Pt S

Deltona, FL 32764

$115,000D-

1 bd · 1.0 ba · 422 sqft · Built 1996 · Condo · Pending · 240 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $968/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$165
• HOA: −$219
• Vac / Maint / Mgmt: −$203
• Net cashflow: $-223/mo
• Annual: $-2,674/yr
• Cap rate: 3.97%
• Cash-on-cash: -8.31%
• DSCR: 0.63
• 1% rule: 0.84%
• Cash to close: $32,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $115k.
• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $76k (34.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (15.9% below list).
• It's been on market 240 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (34.2% below list) — sets the bar for cash-flow.
• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#381 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, 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: Osteen Elementary School (math 54% / reading 56%, grade C, #872 of 2,144 statewide, top 42%, 469 students, 60% FRL); Heritage Middle School (math 38% / reading 41%, grade F, #373 of 571 statewide, top 66%, 993 students, 61% FRL); Pine Ridge High School (math 19% / reading 38%, grade F, #458 of 667 statewide, top 69%, 1,636 students, 54% FRL).
• Watch-outs: HOA is 23% of rent.
• Market conditions: 87 active listings in the ZIP; 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 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $115k implies a 92% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 240 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?