31 Karas Trl · Palm Coast, FL 32164

$206,000

4 bd · 2.0 ba · 2,347 sqft · SingleFamily public records · 1 Days on market

Built 2005 0.29 ac lot Est $411k · 50% under ↓ 30% since listing

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +6.6/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL 4 BR split plan with many upgrades create this elegant family home! From the tiled floors in all wet areas, the gleaming dark wide-plank laminate floors that run from the entrance hall, formal dining room, huge greatroom, breakfast nook, hallway to master bedroom and long hallway of the spare bedroom wing of house, upgraded ceiling fans with light kits, granite counter in guest bath, richly tiled oversized master shower, plant shelves & vaulted ceiling in greatroom, in addition to wood blinds in greatroom, kitchen nook & MBR. Don't miss the side-entry garage, nicely landscaped yard, oversized lot (12,500 PSF) that's completely fenced in a quiet neighborhood with lots of trees & nice homes. Gutters at rear of home and security system add to the amenities. Shows like a model and pride of ownership shows at every corner. You'd be proud to call this home!!

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 2005

Property features AI

Finance

• Other: Property zoned DPX; Unfurnished; No special equipment listed
• HOA & community: Located in Palm Coast Plantation; No association indicated

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; One-story; East-facing entry
• Construction: Brick construction; Shingle roof; Slab foundation; Built as a residential single family home
• Exterior features: Asphalt road access; Lot approximately 0.29 acres (1/4 to less than 1/2 acre)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Open floorplan
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $206k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $206k).
• Cap rate 8.0% vs local median 3.8% in Palm Coast — 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 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.2%/yr); 1367 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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 $170k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $410,725
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Karat Path	0.17mi	4/2.0	2,358 (+0%)	22mo	$340,000	$144	73
46 Karat Path	0.19mi	4/2.0	2,570 (+10%)	3mo	$346,500	$135	73
42 Kathleen Trl	0.56mi	4/3.0	2,309 (-2%)	10mo	$405,000	$175	59
3 Karas Trl	0.51mi	4/3.0	2,265 (-4%)	10mo	$375,200	$166	58
48 Kathleen Trl	0.54mi	4/3.0	2,306 (-2%)	14mo	$420,000	$182	56
13 Karanda Pl	0.41mi	4/2.0	2,055 (-12%)	20mo	$355,000	$173	43
8 Karanda Pl	0.38mi	4/2.0	2,020 (-14%)	20mo	$358,000	$177	43
12 Kathleen Trl	0.74mi	4/2.0	2,017 (-14%)	2mo	$352,500	$175	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.18% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-18,919
• Equity at exit: $30,715

10-year hold

• IRR: -2.5%
• Equity multiple: 0.84×
• Total profit: $-8,958
• Equity at exit: $17,811

Cash invested: $57,680 (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 32164

• Home prices YoY: -6.3%
• Rents YoY: 1.2%
• Active inventory: 1367
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,398 high
• Mortgage (P&I): −$1,080
• Tax from tax record: −$436 /mo · $5,233/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $293

Break-even live

Break-even rent $2,028

Max offer price $206,000

Occupancy floor 83%

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: $51,500
• Closing costs: $6,180
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Karas Trl Palm Coast, FL	4.0	2.0	1617	$2,065	$1.28	23d	1	0.04mi
92 Karas Trl Palm Coast, FL	4.0	2.0	1650	$2,050	$1.24	14d	1	0.53mi
8 Kaiser Pl Palm Coast, FL	3.0	2.5	1834	$2,200	$1.20	21d	1	0.84mi
29 Zoeller Ct Palm Coast, FL	3.0	2.0	2112	$1,800	$0.85	23d	1	1.09mi
13 Squadron Pl Unit B Palm Coast, FL	3.0	2.0	1676	$1,750	$1.04	23d	1	1.17mi
67 Kashmir Trl Unit 1261620P Palm Coast, FL	3.0	3.0	2594	$5,074	$1.96	2d	1	1.27mi

Listing history 3 events

1. 2026-06-03
   remarks 693-char remark
2. 2026-06-03
   remarks 687-char remark
3. 2026-06-03
   listed $206,000 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: $5,233 · $436/mo
• Projected year-2 tax: $5,233 · $436/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,781
• − Mortgage interest: −$11,539
• − Property taxes: −$5,233
• − Insurance: −$1,030
• − Repairs & maintenance: −$2,302
• − Management: −$2,302
• − Depreciation: −$5,993
• Taxable income: $381
• Est. tax owed @ 24.0%: −$91
• After-tax cash flow: $3,419/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: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Palm Coast

• Score: 69/100
• State rank: #478
• US rank: #8721

Category grades

Amenities F Commute F Cost of living B+ 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: Palm Coast, FL
• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 56,658
• Household income: $76,399
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 1291.0

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 14% Black 13% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Russian 2% Slovak 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Indo-European 3%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.89%
• Current HPI: 297.4942
• Rent YoY: ▲ 1.18%
• 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

-29.6% since first listed

11 events — show timeline

• 2026-06-02 Listed $206,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-21 Listing Removed — GAMLS
• 2025-05-16 Listed $140,000 GAMLS
• 2013-08-26 Sold (Public Records) $170,000 Public Records
• 2013-08-26 Sold (MLS) $170,000 Stellar MLS as Distributed by MLS Grid
• 2013-05-06 Listed $173,900 Stellar MLS as Distributed by MLS Grid
• 2011-04-21 Sold (Public Records) $135,000 Public Records
• 2009-12-14 Sold (MLS) $109,000 Stellar MLS as Distributed by MLS Grid
• 2009-10-27 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2004-09-14 Sold (Public Records) $1,702,000 Public Records
• 2001-12-26 Sold (Public Records) $292,500 Public Records

Property tax history

+9.8%/yr

Latest (2025): $5,233 · -1.0% YoY. Source: county tax records.