1239 Thomasina Dr

Port Orange, FL 32129

$225,000D-

3 bd · 2.0 ba · 1,272 sqft · Built 1984 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,012/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$443
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-34/mo
• Annual: $-406/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• 1% rule: 0.89%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $-34 ($-406/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (10.6% below list).
• It's been on market 18 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (10.6% 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 $7k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#131 in FL, #1,957 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities D+, commute 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: Horizon Elementary School (math 55% / reading 60%, grade C+, #764 of 2,144 statewide, top 36%, 773 students, 55% FRL); Silver Sands Middle School (math 50% / reading 52%, grade C, #237 of 571 statewide, top 43%, 1,165 students, 54% FRL); Atlantic High School (math 24% / reading 46%, grade F, #379 of 667 statewide, top 58%, 1,266 students, 52% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents soft (-2.7%/yr); 247 active listings in the ZIP; 23 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).
• Volusia County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $58k; list at $225k implies a 291% gain — meaningful room to come down on a strong offer.
• 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.
• This rent runs 36% of the median local income ($68k/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?
• 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.
• 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.