184 River Front Way · Edgewater, FL 32141

$269,999

3 bd · 2.5 ba · 1,553 sqft · Land · 131 Days on market

Built 2025 3,538 sqft lot $307/mo HOA · 13% 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 +7.4/30.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under contract-accepting backup offers. Gorgeous, Like new townhome nestled in the sleepy town of Edgewater, FLorida right next the town of New Symrna Beach. . This 3 bedroom, 2.5 bath home boost that new construction feel. As soon as you step inside you can feel and smell that brand new vibe. Be the first to leave your mark on this stunning new home. HOA fee covers most homeowners insurance needs. Located on the intercoastal this waterfront community has its perks. With an observation dock extending your view of the waterway, you can launch a kayak, or simply watch the marine life pass by. Inside the community you will find walking paths around two beautiful fountain ponds and a dog park for the pooch. Enjoy the all the wildlife areas, biking paths, beaches, and more the area has to take in. Don't miss out on this exceptional home.

Key facts

• Observation dock
• Fountain ponds
• Dog park

Tags

• WATERFRONT COMMUNITY
• OBSERVATION DOCK
• WALKING PATHS
• FOUNTAIN PONDS
• DOG PARK
• WILDLIFE AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $270k.

Deal economics

• At list price, monthly cash flow is $-351 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (14.6% below list).
• Recommended offer: $219k (18.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#329 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, 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: Indian River Elementary School (math 57% / reading 55%, grade C+, #832 of 2,144 statewide, top 40%, 613 students, 61% FRL); New Smyrna Beach Middle School (math 43% / reading 43%, grade D-, #331 of 571 statewide, top 59%, 1,037 students, 53% FRL); New Smyrna Beach High School (math 34% / reading 52%, grade F, #255 of 667 statewide, top 39%, 1,810 students, 41% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 307 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• This rent runs 43% of the median local income ($64k/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 $8k 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 131 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 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 $219,255 (18.8% 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 131 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.85% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.57%
• DSCR: 0.75
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -25.7%
• Equity multiple: 0.13×
• Total profit: $-65,863
• Equity at exit: $40,258

10-year hold

• IRR: -21.8%
• Equity multiple: -0.13×
• Total profit: $-85,204
• Equity at exit: $23,345

Cash invested: $75,600 (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 32141

• Home prices YoY: -19.2%
• Active inventory: 307
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,307 medium
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$337 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$307
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $-351

Break-even live

Break-even rent $2,751

Max offer price $219,255

Occupancy floor —

Sensitivity live

Price	-10% $-164	-5% $-257	+0% $-351	+5% $-444	+10% $-537
Rent	-10% $-533	-5% $-442	+0% $-351	+5% $-260	+10% $-168
Rate	-1.0pp $-215	-0.5pp $-282	base $-351	+0.5pp $-421	+1.0pp $-492

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Fishermans Cove Dr Edgewater, FL	3.0	2.0	1695	$1,900	$1.12	25d	1	1.00mi
287 Club Rio Dr Edgewater, FL	2.0	2.0	1152	$1,599	$1.39	16d	1	1.19mi

HOA detail

• Monthly dues: $307 · $3,684/yr
• Likely covers: water

Listing history 9 events

1. 2026-05-18
   status Pending 844-char remark

   Show marketing remark (844 chars)

   Under contract-accepting backup offers. Gorgeous, Like new townhome nestled in the sleepy town of Edgewater, FLorida right next the town of New Symrna Beach. . This 3 bedroom, 2.5 bath home boost that new construction feel. As soon as you step inside you can feel and smell that brand new vibe. Be the first to leave your mark on this stunning new home. HOA fee covers most homeowners insurance needs. Located on the intercoastal this waterfront community has its perks. With an observation dock extending your view of the waterway, you can launch a kayak, or simply watch the marine life pass by. Inside the community you will find walking paths around two beautiful fountain ponds and a dog park for the pooch. Enjoy the all the wildlife areas, biking paths, beaches, and more the area has to take in. Don't miss out on this exceptional home.

2. 2026-03-20
   price $269,999 844-char remark

   Show marketing remark (844 chars)

   Under contract-accepting backup offers. Gorgeous, Like new townhome nestled in the sleepy town of Edgewater, FLorida right next the town of New Symrna Beach. . This 3 bedroom, 2.5 bath home boost that new construction feel. As soon as you step inside you can feel and smell that brand new vibe. Be the first to leave your mark on this stunning new home. HOA fee covers most homeowners insurance needs. Located on the intercoastal this waterfront community has its perks. With an observation dock extending your view of the waterway, you can launch a kayak, or simply watch the marine life pass by. Inside the community you will find walking paths around two beautiful fountain ponds and a dog park for the pooch. Enjoy the all the wildlife areas, biking paths, beaches, and more the area has to take in. Don't miss out on this exceptional home.

3. 2026-02-19
   price $274,899 844-char remark

   Show marketing remark (844 chars)

   Under contract-accepting backup offers. Gorgeous, Like new townhome nestled in the sleepy town of Edgewater, FLorida right next the town of New Symrna Beach. . This 3 bedroom, 2.5 bath home boost that new construction feel. As soon as you step inside you can feel and smell that brand new vibe. Be the first to leave your mark on this stunning new home. HOA fee covers most homeowners insurance needs. Located on the intercoastal this waterfront community has its perks. With an observation dock extending your view of the waterway, you can launch a kayak, or simply watch the marine life pass by. Inside the community you will find walking paths around two beautiful fountain ponds and a dog park for the pooch. Enjoy the all the wildlife areas, biking paths, beaches, and more the area has to take in. Don't miss out on this exceptional home.

4. 2026-02-13
   price $274,999 844-char remark

   Show marketing remark (844 chars)

   Under contract-accepting backup offers. Gorgeous, Like new townhome nestled in the sleepy town of Edgewater, FLorida right next the town of New Symrna Beach. . This 3 bedroom, 2.5 bath home boost that new construction feel. As soon as you step inside you can feel and smell that brand new vibe. Be the first to leave your mark on this stunning new home. HOA fee covers most homeowners insurance needs. Located on the intercoastal this waterfront community has its perks. With an observation dock extending your view of the waterway, you can launch a kayak, or simply watch the marine life pass by. Inside the community you will find walking paths around two beautiful fountain ponds and a dog park for the pooch. Enjoy the all the wildlife areas, biking paths, beaches, and more the area has to take in. Don't miss out on this exceptional home.

5. 2026-01-07
   listed $279,999 Active 844-char remark

   Show marketing remark (844 chars)

   Under contract-accepting backup offers. Gorgeous, Like new townhome nestled in the sleepy town of Edgewater, FLorida right next the town of New Symrna Beach. . This 3 bedroom, 2.5 bath home boost that new construction feel. As soon as you step inside you can feel and smell that brand new vibe. Be the first to leave your mark on this stunning new home. HOA fee covers most homeowners insurance needs. Located on the intercoastal this waterfront community has its perks. With an observation dock extending your view of the waterway, you can launch a kayak, or simply watch the marine life pass by. Inside the community you will find walking paths around two beautiful fountain ponds and a dog park for the pooch. Enjoy the all the wildlife areas, biking paths, beaches, and more the area has to take in. Don't miss out on this exceptional home.

6. 2025-08-04
   soldstatus $250,000
7. 2025-07-31
   soldstatus $250,000 Closed 816-char remark

   Show marketing remark (816 chars)

   MLS#O6295442 REPRESENTATIVE PHOTOS ADDED. New Construction - Ready Now! The Marigold at Riverfront is a thoughtfully designed townhome offering approximately 1,553 sq. ft. of stylish living space, complete with 3 bedrooms, 2.5 bathrooms, and a 1-car garage. The open-concept great room and kitchen create a bright, airy atmosphere, with a spacious island perfect for cooking or entertaining. A large rear patio extends your living space outdoors. Downstairs, you'll find a convenient half bath and garage, while upstairs, two bedrooms share a full bath. The primary suite serves as a private retreat with an oversized walk-in closet and a double vanity. Smart storage solutions abound, including under-stair storage, a large walk-in kitchen pantry, a separate laundry room, a linen closet, and ample bedroom closets.

8. 2025-05-24
   status Pending 816-char remark

   Show marketing remark (816 chars)

   MLS#O6295442 REPRESENTATIVE PHOTOS ADDED. New Construction - Ready Now! The Marigold at Riverfront is a thoughtfully designed townhome offering approximately 1,553 sq. ft. of stylish living space, complete with 3 bedrooms, 2.5 bathrooms, and a 1-car garage. The open-concept great room and kitchen create a bright, airy atmosphere, with a spacious island perfect for cooking or entertaining. A large rear patio extends your living space outdoors. Downstairs, you'll find a convenient half bath and garage, while upstairs, two bedrooms share a full bath. The primary suite serves as a private retreat with an oversized walk-in closet and a double vanity. Smart storage solutions abound, including under-stair storage, a large walk-in kitchen pantry, a separate laundry room, a linen closet, and ample bedroom closets.

9. 2025-04-01
   listed $260,000 Active 816-char remark

   Show marketing remark (816 chars)

   MLS#O6295442 REPRESENTATIVE PHOTOS ADDED. New Construction - Ready Now! The Marigold at Riverfront is a thoughtfully designed townhome offering approximately 1,553 sq. ft. of stylish living space, complete with 3 bedrooms, 2.5 bathrooms, and a 1-car garage. The open-concept great room and kitchen create a bright, airy atmosphere, with a spacious island perfect for cooking or entertaining. A large rear patio extends your living space outdoors. Downstairs, you'll find a convenient half bath and garage, while upstairs, two bedrooms share a full bath. The primary suite serves as a private retreat with an oversized walk-in closet and a double vanity. Smart storage solutions abound, including under-stair storage, a large walk-in kitchen pantry, a separate laundry room, a linen closet, and ample bedroom closets.

ⓘ 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: $27,679
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,214
• − Management: −$2,214
• − HOA: −$3,684
• − Depreciation: −$7,855
• Taxable loss: −$8,812
• Est. tax savings @ 24.0%: +$2,115
• After-tax cash flow: $-2,093/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 — Edgewater

• Score: 72/100
• State rank: #329
• US rank: #5753

Category grades

Amenities D- Commute F Cost of living A+ 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: Edgewater, FL
• County: Volusia County · 556,871 people
• City population: 18,726
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 18,726
• Household income: $63,936
• Rent vs Own: 6.2% rent · 93.8% own
• Severe rent burden: 161.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 2% 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: ▼ -80.12%
• Current HPI: 337.8301
• Rent YoY: —
• 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

+3.8% since first listed

9 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $269,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $274,899 Stellar MLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $274,999 Stellar MLS as Distributed by MLS Grid
• 2026-01-07 Listed $279,999 Stellar MLS as Distributed by MLS Grid
• 2025-08-04 Sold (Public Records) $250,000 Public Records
• 2025-07-31 Sold (MLS) $250,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-04-01 Listed $260,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+112.3%/yr

Latest (2025): $453 · +35.8% YoY. Source: county tax records.