183 Hernandez Ave · Ormond Beach, FL 32174

$249,700

2 bd · 1.0 ba · 770 sqft · SingleFamily public records · 34 Days on market

Built 1954 9,900 sqft lot

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Why this score? — see what drove the F 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 +7.9/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Comfort, convenience, and room to grow come together in this MOVE-IN READY Ormond Beach home located on an oversized corner lot with NO HOA. Offering 3 bedrooms, 1 bathroom, this property is an excellent opportunity for first-time homebuyers, investors, or anyone searching for an affordable home in a convenient location close to shopping, dining, parks, major roadways, and just 1.9 MILES TO THE BEACH!. Freshly painted inside, the home features new wood-look vinyl flooring throughout the living areas and bedrooms, creating a clean and comfortable feel with easy maintenance. Watch the world go by from the inviting front Florida room, a cozy extension of the living space that is perfect for morning coffee, reading, casual conversation, or simply relaxing at the end of the day. An inside laundry room adds everyday convenience. The oversized corner lot offers flexibility seldom found at this price point, with room for a future garage. .. .. .workshop, boat or RV parking, additional storage, or expanded outdoor living space. The spacious yard also provides opportunities for entertaining, pets, or gardening. Whether you are searching for a primary residence, rental investment, or starter home, this property combines value, location, versatility, and future potential in one attractive package. .

Key facts

• Oversized corner lot
• Front florida room
• Inside laundry room

Tags

• OVERSIZED CORNER LOT
• NEW WOOD-LOOK VINYL FLOORING
• FRONT FLORIDA ROOM
• INSIDE LAUNDRY ROOM
• FLEXIBILITY FOR FUTURE GARAGE
• ROOM FOR BOAT OR RV PARKING

Property features AI

Finance

• Other: Property is unfurnished; Universal property ID available
• Financial info: Lease restrictions apply
• HOA & community: No HOA association reported; Development: Ormond Terrace; Pets allowed

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Phone available
• Home design: Single family residence; Residential property; One story; South-facing; Completed condition; Zoned R-3 SF; Homesteaded
• Construction: Block, frame and wood siding construction; Membrane roof; Slab foundation; Built with approximately 1,284 total building area
• Exterior features: Patio; Corner lot; Located within city limits; Paved driveway and roads (asphalt); Public maintained road

Interior

• Kitchen: Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Seven total rooms
• Laundry & utility: Inside laundry room; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-267 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (34.6% below list).
• Recommended offer: $163k (34.6% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.9% in Ormond Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Ormond Beach Elementary School (math 67% / reading 67%, grade B+, #450 of 2,144 statewide, top 22%, 318 students, 60% FRL); Ormond Beach Middle School (math 57% / reading 55%, grade B-, #175 of 571 statewide, top 31%, 990 students, 48% FRL); Seabreeze High School (math 31% / reading 56%, grade F, #248 of 667 statewide, top 38%, 1,654 students, 41% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 986 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); 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 $2k of loan paydown is wiped out by about $7k 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 34 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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 $184k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,293 (34.6% 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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.65% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.58%
• DSCR: 0.80
• GRM: 12.7

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: -25.5%
• Equity multiple: 0.15×
• Total profit: $-59,748
• Equity at exit: $37,231

10-year hold

• IRR: -26.1%
• Equity multiple: -0.19×
• Total profit: $-83,043
• Equity at exit: $21,589

Cash invested: $69,916 (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: 986
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,633 medium
• Mortgage (P&I): −$1,309
• Tax from tax record: −$143 /mo · $1,722/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-267

Break-even live

Break-even rent $1,971

Max offer price $202,544

Occupancy floor —

Sensitivity live

Price	-10% $-126	-5% $-196	+0% $-267	+5% $-338	+10% $-408
Rent	-10% $-396	-5% $-331	+0% $-267	+5% $-202	+10% $-138
Rate	-1.0pp $-141	-0.5pp $-203	base $-267	+0.5pp $-332	+1.0pp $-397

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: $62,425
• Closing costs: $7,491
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Shadow Lakes Blvd Ormond Beach, FL	1.0–2.0	1.0–2.0	856	$1,645	$1.92	12d	15	1.03mi
55 Vining Ct Apt 204 Ormond Beach, FL	2.0	1.5	930	$1,450	$1.56	25d	1	1.22mi
410 Sauls St Ormond Beach, FL	3.0	1.0	990	$1,500	$1.52	25d	1	1.42mi
363 S Halifax Dr Ormond Beach, FL	1.0	1.0	600	$1,350	$2.25	15d	1	1.47mi

Listing history 28 events

1. 2026-06-18
   days on market $249,700 Active 34 DOM
2. 2026-06-17
   days on market $249,700 Active 33 DOM
3. 2026-06-16
   days on market $249,700 Active 32 DOM
4. 2026-06-15
   days on market $249,700 Active 31 DOM
5. 2026-06-14
   days on market $249,700 Active 29 DOM
6. 2026-06-10
   days on market $249,700 Active 26 DOM
7. 2026-06-09
   days on market $249,700 Active 25 DOM
8. 2026-06-08
   days on market $249,700 Active 24 DOM
9. 2026-06-07
   days on market $249,700 Active 23 DOM
10. 2026-06-05
    days on market $249,700 Active 20 DOM
11. 2026-06-03
    days on market $249,700 Active 19 DOM
12. 2026-06-03
    days on market $249,700 Active 18 DOM
13. 2026-06-01
    days on market $249,700 Active 17 DOM
14. 2026-05-31
    days on market $249,700 Active 16 DOM
15. 2026-05-31
    days on market $249,700 Active 15 DOM
16. 2026-05-15
    listed $249,700 Active 1301-char remark

    Show marketing remark (1308 chars)

    Comfort, convenience, and room to grow come together in this MOVE-IN READY Ormond Beach home located on an oversized corner lot with NO HOA. Offering 3 bedrooms, 1 bathroom, this property is an excellent opportunity for first-time homebuyers, investors, or anyone searching for an affordable home in a convenient location close to shopping, dining, parks, major roadways, and just 1.9 MILES TO THE BEACH!. Freshly painted inside, the home features new wood-look vinyl flooring throughout the living areas and bedrooms, creating a clean and comfortable feel with easy maintenance. Watch the world go by from the inviting front Florida room, a cozy extension of the living space that is perfect for morning coffee, reading, casual conversation, or simply relaxing at the end of the day. An inside laundry room adds everyday convenience. The oversized corner lot offers flexibility seldom found at this price point, with room for a future garage. .. .. .workshop, boat or RV parking, additional storage, or expanded outdoor living space. The spacious yard also provides opportunities for entertaining, pets, or gardening. Whether you are searching for a primary residence, rental investment, or starter home, this property combines value, location, versatility, and future potential in one attractive package. .

17. 2026-05-15
    listed $249,700 Active 1308-char remark

    Show marketing remark (1308 chars)

    Comfort, convenience, and room to grow come together in this MOVE-IN READY Ormond Beach home located on an oversized corner lot with NO HOA. Offering 3 bedrooms, 1 bathroom, this property is an excellent opportunity for first-time homebuyers, investors, or anyone searching for an affordable home in a convenient location close to shopping, dining, parks, major roadways, and just 1.9 MILES TO THE BEACH!. Freshly painted inside, the home features new wood-look vinyl flooring throughout the living areas and bedrooms, creating a clean and comfortable feel with easy maintenance. Watch the world go by from the inviting front Florida room, a cozy extension of the living space that is perfect for morning coffee, reading, casual conversation, or simply relaxing at the end of the day. An inside laundry room adds everyday convenience. The oversized corner lot offers flexibility seldom found at this price point, with room for a future garage. .. .. .workshop, boat or RV parking, additional storage, or expanded outdoor living space. The spacious yard also provides opportunities for entertaining, pets, or gardening. Whether you are searching for a primary residence, rental investment, or starter home, this property combines value, location, versatility, and future potential in one attractive package. .

18. 2015-12-18
    historical
19. 2015-06-17
    listed $134,900 Active
20. 2006-02-21
    soldstatus $184,000
21. 2006-02-14
    soldstatus $184,000
22. 2005-08-18
    listed $189,000
23. 2003-12-03
    soldstatus $88,000
24. 2002-02-21
    soldstatus $78,000
25. 2001-08-10
    soldstatus $65,000
26. 2001-08-08
    soldstatus $65,000
27. 2001-06-21
    listed $74,900
28. 1997-10-02
    soldstatus $42,000

ⓘ 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: $1,722 · $143/mo
• Projected year-2 tax: $2,073 · $173/mo
• Expected delta: +$351/yr (+$29/mo · 20.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,595
• − Mortgage interest: −$13,987
• − Property taxes: −$1,722
• − Insurance: −$1,248
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$7,264
• Taxable loss: −$7,761
• Est. tax savings @ 24.0%: +$1,863
• After-tax cash flow: $-1,341/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 — 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

+494.5% since first listed

13 events — show timeline

• 2026-05-15 Listed $249,700 Daytona MLS
• 2026-05-15 Listed $249,700 Stellar MLS as Distributed by MLS Grid
• 2015-12-18 Listing Removed — Daytona MLS
• 2015-06-17 Listed $134,900 Daytona MLS
• 2006-02-21 Sold (Public Records) $184,000 Public Records
• 2006-02-14 Sold (MLS) $184,000 Daytona MLS
• 2005-08-18 Listed $189,000 Daytona MLS
• 2003-12-03 Sold (Public Records) $88,000 Public Records
• 2002-02-21 Sold (Public Records) $78,000 Public Records
• 2001-08-10 Sold (Public Records) $65,000 Public Records
• 2001-08-08 Sold (MLS) $65,000 Daytona MLS
• 2001-06-21 Listed $74,900 Daytona MLS
• 1997-10-02 Sold (Public Records) $42,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $1,722 · +4.5% YoY. Source: county tax records.