41 Fairway Ct #41 · DeLand, FL 32724

$135,000

2 bd · 1.5 ba · 930 sqft · Condo · 38 Days on market

Built 1976 Good condition $250/mo HOA · 17% 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the desirable 55+ community of Fairway Village, this beautifully maintained SINGLE-STORY CONDO offers the perfect blend of LOW-MAINTENANCE LIVING, comfort, and convenience just MINUTES FROM AWARD-WINNING HISTORIC DELAND while still being within EASY REACH OF CENTRAL FLORIDA’S WORLD-FAMOUS BEACHES, INCLUDING DAYTONA BEACH AND NEW SMYRNA BEACH. Featuring 2 spacious bedrooms and 1.5 bathrooms, this move-in ready residence is ideal for year-round living, a seasonal Florida retreat, or a downsizing opportunity without sacrificing lifestyle. DeLand has increasingly become known as a “hidden gem” retirement destination thanks to its charming walkable downtown, thriving

Key facts

• Walkable downtown
• $250 HOA
• Community pool

Tags

• LOW-MAINTENANCE LIVING
• MINUTES FROM HISTORIC DELAND
• WALKABLE DOWNTOWN
• CONVENIENT HEALTHCARE ACCESS
• BEAUTIFULLY MAINTAINED GROUNDS
• EXCEPTIONALLY LOW HOA FEES

Property features AI

Finance

• Other: Unit is furnished; Buyer directions available
• Financial info: Total annual fees approximately $3,000; Monthly fees listed as $250
• HOA & community: Monthly HOA fee of $250; HOA includes pool, grounds maintenance, pest control, and recreational facilities; Association requires buyer approval; Association name: Carol White; Community amenities include a pool; Senior community; Pets allowed (cats and dogs) with max pet weight around 35 lbs; Development: Fairway

Exterior

• Parking: Assigned parking
• Security: Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Phone available
• Home design: Condominium; One story; Entry on level 1; North-facing
• Construction: Frame construction; Shingle roof; Slab foundation; Built as part of the Fairway building
• Exterior features: Sliding doors; Asphalt road access

Interior

• Kitchen: Convection oven; Dishwasher; Disposal; Range; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combo; Thermostat; Florida room; Fire sprinkler system; Smoke detectors
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-20 ($-240/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (2.1% below list).
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#498 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B; Watch: amenities F, commute F, health & safety 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: Blue Lake Elementary School (math 30% / reading 30%, grade F, #1,882 of 2,144 statewide, top 88%, 520 students, 75% FRL); Deland Middle School (math 38% / reading 43%, grade F, #360 of 571 statewide, top 64%, 1,074 students, 61% FRL); Deland High School (math 26% / reading 45%, grade F, #367 of 667 statewide, top 57%, 2,926 students, 50% FRL).
• Market conditions: Rents rising (+2.8%/yr); 669 active listings in the ZIP; 14 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 $933 of loan paydown is wiped out by about $4k 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 38 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% 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 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-23,241
• Equity at exit: $20,129

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-22,253
• Equity at exit: $11,672

Cash invested: $37,800 (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 32724

• Rents YoY: 2.8%
• Active inventory: 669
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,472 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$250
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-20

Break-even live

Break-even rent $1,497

Max offer price $132,103

Occupancy floor 96%

Sensitivity live

Price	-10% $73	-5% $27	+0% $-20	+5% $-67	+10% $-113
Rent	-10% $-136	-5% $-78	+0% $-20	+5% $38	+10% $96
Rate	-1.0pp $48	-0.5pp $14	base $-20	+0.5pp $-55	+1.0pp $-91

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Winslow Ave Deland, FL	2.0	1.0	1100	$1,450	$1.32	25d	1	0.38mi
727 Wood St Deland, FL	3.0	1.0	900	$1,329	$1.48	21d	1	0.68mi
121 N Colorado Ave Deland, FL	2.0	1.0	770	$1,095	$1.42	21d	1	0.76mi
832 E Indiana Ave Deland, FL	2.0	1.0	893	$1,275	$1.43	25d	1	0.76mi
300 Miller Rd DeLand, FL	1.0–2.0	1.0–2.0	785	$1,324	$1.69	25d	1	0.91mi
622 E Rich Ave Deland, FL	2.0	1.0	884	$1,230	$1.39	16d	1	0.93mi
400 E Howry Ave Deland, FL	1.0–2.0	1.0–2.0	956	$1,995	$2.09	13d	25	0.98mi
1825 E New York Ave Deland, FL	1.0	1.0	550	$950	$1.73	25d	1	1.02mi
1825 E New York Ave Deland, FL	1.0	1.0	660	$925	$1.40	13d	1	1.02mi
1825 E New York Ave Apt 6 DeLand, FL	1.0	1.0	660	$925	$1.40	25d	1	1.02mi
240 E Howry Ave DeLand, FL	2.0	1.0	816	$1,500	$1.84	25d	1	1.17mi
117 E Euclid Ave DeLand, FL	1.0	1.0	998	$2,400	$2.40	25d	1	1.24mi
101 E New Hampshire Ave Deland, FL	1.0	1.0	576	$1,140	$1.98	13d	11	1.42mi
12 S University Cir Deland, FL	2.0	2.0	1105	$1,775	$1.61	25d	1	1.44mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-22
   days on market $135,000 Active 38 DOM
2. 2026-06-18
   days on market $135,000 Active 35 DOM
3. 2026-06-17
   days on market $135,000 Active 34 DOM
4. 2026-06-16
   days on market $135,000 Active 33 DOM
5. 2026-06-15
   days on market $135,000 Active 32 DOM
6. 2026-06-14
   days on market $135,000 Active 30 DOM
7. 2026-06-10
   days on market $135,000 Active 27 DOM
8. 2026-06-09
   days on market $135,000 Active 26 DOM
9. 2026-06-08
   days on market $135,000 Active 25 DOM
10. 2026-06-07
    days on market $135,000 Active 24 DOM
11. 2026-06-05
    days on market $135,000 Active 21 DOM
12. 2026-06-03
    days on market $135,000 Active 20 DOM
13. 2026-06-03
    days on market $135,000 Active 19 DOM
14. 2026-06-01
    days on market $135,000 Active 18 DOM
15. 2026-05-31
    days on market $135,000 Active 17 DOM
16. 2026-05-31
    days on market $135,000 Active 16 DOM
17. 2026-05-14
    listed $135,000 Active 1423-char remark
18. 2021-02-06
    historical
19. 2020-08-17
    listed $100,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 6 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $17,665
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − HOA: −$3,000
• − Depreciation: −$3,927
• Taxable loss: −$2,351
• Est. tax savings @ 24.0%: +$564
• After-tax cash flow: $324/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready single-story condo in Fairway Village offers low-maintenance living with a desirable location and ample space.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and reduces maintenance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and reduces maintenance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — DeLand

• Score: 68/100
• State rank: #498
• US rank: #9197

Category grades

Amenities F Commute F Cost of living A Crime B Employment C Housing A+ Health & safety D- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeLand, FL
• County: Volusia County · 556,871 people
• City population: 81,399
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 45,140
• Household income: $73,592
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 942.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 19% Two or more races 9% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 14% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -215.80%
• Current HPI: 297.1837
• Rent YoY: ▲ 2.82%
• 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

+35.0% since first listed

3 events — show timeline

• 2026-05-14 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2021-02-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2020-08-17 Listed $100,000 Stellar MLS as Distributed by MLS Grid