613 Castlecroft Ln

DeBary, FL 32713

$305,990D+

3 bd · 2.5 ba · 1,687 sqft · Built 2026 · Townhouse · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,475/mo
• Mortgage (P&I): −$1,605
• Tax + insurance: −$294
• HOA: −$113
• Vac / Maint / Mgmt: −$520
• Net cashflow: $-56/mo
• Annual: $-676/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• 1% rule: 0.81%
• Cash to close: $85,677

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $306k.
• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (19.1% below list).
• It's been on market 39 days — a 3% lower offer ($297k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (19.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#312 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; 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: Enterprise Elementary School (math 47% / reading 42%, grade F, #1,288 of 2,144 statewide, top 62%, 588 students, 66% FRL); River Springs Middle School (math 45% / reading 46%, grade D+, #305 of 571 statewide, top 54%, 1,249 students, 50% FRL); University High School (math 28% / reading 46%, grade F, #340 of 667 statewide, top 52%, 2,901 students, 49% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents rising (+1.9%/yr); 276 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,402 units permitted in Volusia County in 2024 (681 in 5+ unit buildings).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.1% vs local median 3.7% in DeBary — 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.
• This rent runs 34% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.