1488 Morning Walk Dr · Ormond Beach, FL 32174

$340,990

4 bd · 2.0 ba · 1,498 sqft · Land · 10 Days on market

$115/mo HOA · 4% of rent

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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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The property is located at 1488 Morning Walk Drive ORMOND BEACH FL 32174 priced at 340990, the square foot and stories are 1498, 1.The number of bath is 2, halfbath is 0 there are 4 bedrooms and 2 garages. For more details please, call or email.

Key facts

• Open concept
• Linen closet
• 2 garage spots

Tags

• OPEN CONCEPT
• LINEN CLOSET
• WELL-APPOINTED KITCHEN
• STAINLESS STEEL APPLIANCES
• SMART HOME TECHNOLOGY PACKAGE

Property features AI

Finance

• HOA & community: Homeowners association membership required; Monthly association fee of $115; Community clubhouse, fitness center, and pool

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water; Sewer available; Electricity available; Cable available
• Home design: Single family residence; One story; New construction / Under construction
• Construction: Block and stucco construction; Shingle roof; Slab foundation
• Exterior features: Patio; Paved road access

Interior

• Kitchen: Electric range; Dishwasher; Disposal
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Electric cooling
• Interior features: Eat-in kitchen; Entrance foyer; Kitchen island; Open floorplan; Pantry; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $341k.

Deal economics

• At list price, monthly cash flow is $-450 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (19.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (25.0% below list).
• Recommended offer: $256k (25.0% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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.
• Market conditions: Rents rising (+1.6%/yr); 985 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 43% of the median local income ($71k/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 $2k of loan paydown is wiped out by about $10k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $255,894 (25.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.66%
• DSCR: 0.75
• GRM: 11.1

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: -27.5%
• Equity multiple: 0.09×
• Total profit: $-87,258
• Equity at exit: $50,843

10-year hold

• IRR: -31.8%
• Equity multiple: -0.32×
• Total profit: $-126,234
• Equity at exit: $29,483

Cash invested: $95,477 (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: 985
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,559 medium
• Mortgage (P&I): −$1,788
• Tax est. 1.5%: −$426 /mo · $5,115/yr
• Insurance: −$142
• HOA: −$115
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $-450

Break-even live

Break-even rent $3,128

Max offer price $275,883

Occupancy floor —

Sensitivity live

Price	-10% $-214	-5% $-332	+0% $-450	+5% $-568	+10% $-686
Rent	-10% $-652	-5% $-551	+0% $-450	+5% $-349	+10% $-248
Rate	-1.0pp $-278	-0.5pp $-363	base $-450	+0.5pp $-538	+1.0pp $-628

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: $85,248
• Closing costs: $10,230
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 Middle Lake Dr Ormond Beach, FL	4.0	2.0	1846	$2,600	$1.41	24d	1	0.76mi
1028 Kilkenny Ln Ormond Beach, FL	3.0	2.0	1501	$2,400	$1.60	3d	1	0.84mi
1427 Carlow Cir Ormond Beach, FL	3.0	2.0	1684	$2,059	$1.22	24d	1	1.37mi

HOA detail

• Monthly dues: $115 · $1,380/yr

Listing history 19 events

1. 2026-06-18
   days on market $340,990 Active 10 DOM
2. 2026-06-17
   days on market $340,990 Active 9 DOM
3. 2026-06-16
   days on market $340,990 Active 8 DOM
4. 2026-06-15
   days on market $340,990 Active 7 DOM
5. 2026-06-14
   days on market $340,990 Active 5 DOM
6. 2026-06-10
   days on market $340,990 Active 2 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   days on marketlisting id $340,990 Active 1 DOM
9. 2026-06-08
   days on market $340,990 Active 53 DOM
10. 2026-06-07
    days on market $340,990 Active 52 DOM
11. 2026-06-05
    days on market $340,990 Active 49 DOM
12. 2026-06-03
    days on market $340,990 Active 48 DOM
13. 2026-06-03
    days on market $340,990 Active 47 DOM
14. 2026-06-01
    days on market $340,990 Active 46 DOM
15. 2026-05-31
    days on market $340,990 Active 45 DOM
16. 2026-05-31
    days on market $340,990 Active 44 DOM
17. 2026-05-14
    price $340,990 245-char remark

    Show marketing remark (245 chars)

    The property is located at 1488 Morning Walk Drive ORMOND BEACH FL 32174 priced at 340990, the square foot and stories are 1498, 1.The number of bath is 2, halfbath is 0 there are 4 bedrooms and 2 garages. For more details please, call or email.

18. 2026-05-12
    price $342,870 245-char remark

    Show marketing remark (245 chars)

    The property is located at 1488 Morning Walk Drive ORMOND BEACH FL 32174 priced at 340990, the square foot and stories are 1498, 1.The number of bath is 2, halfbath is 0 there are 4 bedrooms and 2 garages. For more details please, call or email.

19. 2026-04-16
    listed $340,870 Active 245-char remark

    Show marketing remark (245 chars)

    The property is located at 1488 Morning Walk Drive ORMOND BEACH FL 32174 priced at 340990, the square foot and stories are 1498, 1.The number of bath is 2, halfbath is 0 there are 4 bedrooms and 2 garages. For more details please, call or email.

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

Taxation est. · year 1

• Rental income: $30,707
• − Mortgage interest: −$19,101
• − Property taxes: −$5,115
• − Insurance: −$1,705
• − Repairs & maintenance: −$2,457
• − Management: −$2,457
• − HOA: −$1,380
• − Depreciation: −$9,920
• Taxable loss: −$11,426
• Est. tax savings @ 24.0%: +$2,742
• After-tax cash flow: $-2,657/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

+0.0% since first listed

4 events — show timeline

• 2026-06-08 Listed $340,990 Daytona MLS
• 2026-05-14 Price Changed $340,990 Zillow
• 2026-05-12 Price Changed $342,870 Zillow
• 2026-04-16 Listed $340,870 Zillow