5 Whetstone Ln · Palm Coast, FL 32164

$355,000

4 bd · 2.0 ba · 2,350 sqft · SingleFamily public records · 18 Days on market

Built 2001 9,747 sqft lot Est $395k · 10% under

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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 +12.3/30.0
• ARV discount +12.0/15.0
• Schools +4.6/10.0
• DSCR +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to your own private retreat. As you step inside, you’re greeted by two sets of three-panel sliding glass doors that frame a stunning, park-like setting. Lush landscaping is complemented by protected wooded areas behind and along one side of the home, ensuring lasting privacy and tranquility. Natural light pours in through three skylights, beautifully highlighting the home’s features. The spacious kitchen opens seamlessly to the family room and eat in kitchen area, creating an ideal layout for both entertaining and everyday living. Upon entry, the formal living and dining rooms are thoughtfully positioned to the left and right, offering additional space for gathering

Key facts

• 9,747 sq ft lot
• 2 garage spots
• Built 2001

Property features AI

Finance

• Other: Homestead exempt; No CDD; Zoned DPX
• HOA & community: Pine Lakes community; Cats and dogs allowed

Exterior

• Parking: Driveway; Attached garage with garage door opener; 2-car garage
• Utilities: Public water; Public sewer with holding tank; Electricity connected; Cable connected
• Home design: Single-family residence; One level; Northwest facing
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built by Mercedes Homes; Approximately 2000+ square feet living area (public records)
• Exterior features: Covered rear porch; Screened porch; Sliding doors; Mature landscaping with trees; Wooded areas; Drainage canal on lot; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Eat-in kitchen
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Eat-in kitchen; High ceilings; Kitchen open to family room; Vaulted ceilings; Walk-in closets; Skylights; Blinds; Double-pane windows
• Laundry & utility: Inside laundry room with washer and dryer hookups; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-68 ($-816/yr) — negative.
• To cash-flow at today's rent, offer at most $343k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (25.4% below list).
• Recommended offer: $265k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% in Palm Coast — 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.

Location & tenants

• Location reads 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lewis E. Wadsworth Elementary (math 54% / reading 57%, grade C, #855 of 2,144 statewide, top 41%, 743 students, 68% FRL); Flagler-Palm Coast High School (math 36% / reading 51%, grade F, #248 of 667 statewide, top 38%, 2,523 students, 52% FRL).
• Market conditions: Rents rising (+1.2%/yr); 1367 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($76k/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 $11k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $165k; list at $355k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $264,741 (25.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $394,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 Westhampton Dr	0.44mi	4/3.0	2,296 (-2%)	2mo	$390,000	$170	70
4 White Hurst Ln	0.63mi	4/3.0	2,350 (0%)	1mo	$375,000	$160	66
5 Westover Ln	0.59mi	4/2.0	2,208 (-6%)	1mo	$425,000	$192	62
67 Royal Oak Dr	0.56mi	4/3.0	2,117 (-10%)	1mo	$340,000	$161	53
11 Ruth Dr	0.67mi	4/2.0	2,134 (-9%)	1mo	$340,990	$160	52
20 Willow St	0.49mi	4/2.0	2,016 (-14%)	2mo	$339,000	$168	52
30 Westminster Dr	0.58mi	4/2.0	2,044 (-13%)	0mo	$325,000	$159	51
2 Fairfax Ct	0.40mi	3/2.5 (-1)	2,007 (-15%)	2mo	$280,500	$140	49
4 Westmoreland Dr	0.58mi	4/3.0	2,671 (+14%)	1mo	$500,000	$187	46
43 Westfield Ln	0.65mi	4/2.0	2,689 (+14%)	1mo	$500,000	$186	45
17 White Hall Dr	0.72mi	3/3.0 (-1)	2,121 (-10%)	0mo	$449,000	$212	41
19 Russkin Ln	0.74mi	3/2.0 (-1)	2,080 (-12%)	2mo	$300,000	$144	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.18% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.33×
• Total profit: $-66,757
• Equity at exit: $52,932

10-year hold

• IRR: -16.1%
• Equity multiple: 0.16×
• Total profit: $-83,115
• Equity at exit: $30,694

Cash invested: $99,400 (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 32164

• Home prices YoY: -6.3%
• Rents YoY: 1.2%
• Active inventory: 1367
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,647 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$150 /mo · $1,798/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $-68

Break-even live

Break-even rent $2,733

Max offer price $342,993

Occupancy floor 98%

Sensitivity live

Price	-10% $133	-5% $33	+0% $-68	+5% $-168	+10% $-269
Rent	-10% $-277	-5% $-173	+0% $-68	+5% $37	+10% $141
Rate	-1.0pp $111	-0.5pp $22	base $-68	+0.5pp $-160	+1.0pp $-254

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Wheeler Ln Palm Coast, FL	5.0	3.0	2508	$2,500	$1.00	24d	1	0.13mi
12 Wheeler Ln Palm Coast, FL	4.0	2.0	2958	$3,000	$1.01	3d	1	0.15mi
11 Wheeler Ln Unit 1261594P Palm Coast, FL	4.0	2.0	2497	$5,248	$2.10	3d	1	0.16mi
107 Whispering Pine Dr Palm Coast, FL	3.0	3.0	2507	$2,400	$0.96	12d	1	0.24mi
11 Wheatfield Dr Palm Coast, FL	4.0	2.0	2242	$2,195	$0.98	24d	1	0.24mi
113 Whippoorwill Dr Unit NA Palm Coast, FL	3.0	2.0	1580	$2,100	$1.33	24d	1	0.26mi
87 Rose Dr Palm Coast, FL	3.0	2.0	2262	$1,925	$0.85	12d	1	0.31mi
87 Rose Dr Palm Coast, FL	3.0	2.0	2262	$1,925	$0.85	15d	1	0.31mi
19 Rosecroft Ln Palm Coast, FL	3.0	2.5	1719	$1,979	$1.15	22d	1	0.44mi
58 Whippoorwill Dr Palm Coast, FL	3.0	2.0	1721	$1,950	$1.13	3d	1	0.55mi
80 Westfield Ln Palm Coast, FL	3.0	2.0	1945	$1,951	$1.00	22d	1	0.58mi
7 Walton Pl Palm Coast, FL	3.0	2.0	1929	$1,975	$1.02	15d	1	0.74mi
11 Roxton Ln Palm Coast, FL	4.0	2.0	1617	$1,949	$1.21	24d	1	0.85mi
60 Westover Ln Unit 1261607P Palm Coast, FL	3.0	2.0	1894	$3,907	$2.06	3d	1	0.86mi
9 White Hawk Pl Palm Coast, FL	3.0	2.0	1608	$1,900	$1.18	3d	1	0.89mi
2 Riverina Dr Palm Coast, FL	5.0	3.0	1984	$2,139	$1.08	3d	1	0.93mi
14 Wood Amber Ln Palm Coast, FL	3.0	2.0	1655	$1,750	$1.06	24d	1	1.03mi
15 Renshaw Dr Palm Coast, FL	4.0	2.5	2056	$2,100	$1.02	24d	1	1.16mi
20 Woodfield Dr Palm Coast, FL	3.0	2.0	1791	$1,995	$1.11	3d	1	1.18mi
20 Woodford Ln Palm Coast, FL	3.0	2.0	2338	$2,875	$1.23	15d	1	1.18mi
75 Raleigh Dr Palm Coast, FL	5.0	3.0	2000	$2,350	$1.18	20d	1	1.21mi
64 Ramblewood Dr Palm Coast, FL	3.0	2.0	2014	$1,976	$0.98	22d	1	1.30mi
121 Raintree Cir Palm Coast, FL	3.0	2.0	1939	$1,900	$0.98	15d	1	1.31mi
5 Pine Haven Dr Palm Coast, FL	3.0	2.0	1635	$1,850	$1.13	15d	1	1.33mi
48 Renworth Ln Palm Coast, FL	4.0	2.0	1783	$1,750	$0.98	15d	1	1.35mi
4 Ritchie Pl Palm Coast, FL	3.0	2.0	1970	$2,216	$1.12	3d	1	1.37mi
19 Rykill Way Palm Coast, FL	4.0	2.0	1806	$2,066	$1.14	3d	1	1.41mi
57 Wellstream Ln Palm Coast, FL	3.0	2.0	2040	$1,900	$0.93	24d	1	1.44mi
15 Raeland Ln Palm Coast, FL	4.0	2.0	1891	$799	$0.42	24d	1	1.45mi
18 Red Clover Ln Palm Coast, FL	4.0	2.0	1660	$1,900	$1.14	24d	1	1.48mi
131 Rae Dr Palm Coast, FL	4.0	2.0	1738	$2,150	$1.24	3d	1	1.49mi
41 Raemoor Dr Palm Coast, FL	4.0	3.0	1836	$1,995	$1.09	3d	1	1.49mi

Listing history 3 events

1. 2026-04-27
   status Pending
2. 2026-04-08
   listed $355,000 Active
3. 2003-05-20
   soldstatus $165,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,798 · $150/mo
• Projected year-2 tax: $2,946 · $246/mo
• Expected delta: +$1,148/yr (+$96/mo · 63.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,769
• − Mortgage interest: −$19,886
• − Property taxes: −$1,798
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,542
• − Management: −$2,542
• − Depreciation: −$10,327
• Taxable loss: −$7,100
• Est. tax savings @ 24.0%: +$1,704
• After-tax cash flow: $888/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: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Palm Coast

• Score: 69/100
• State rank: #478
• US rank: #8721

Category grades

Amenities F Commute F Cost of living B+ 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: Palm Coast, FL
• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 56,658
• Household income: $76,399
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 1291.0

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 14% Black 13% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Russian 2% Slovak 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Indo-European 3%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.89%
• Current HPI: 297.4942
• Rent YoY: ▲ 1.18%
• 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

+115.2% since first listed

3 events — show timeline

• 2026-04-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-08 Listed $355,000 Stellar MLS as Distributed by MLS Grid
• 2003-05-20 Sold (Public Records) $165,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,798 · +3.0% YoY. Source: county tax records.