547 DIVISION ST Pending Save Request In-Person Tour Request Virtual Tour
Daytona Beach,FL 32114
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Pending
Purchase Type For Sale
Square Footage 1,066 sqft
Price per Sqft $93
Subdivision Conrad & Bullard Lt 04 & 05 Blk 27 Daytona
MLS Listing ID O6226938
Bedrooms 3
Full Baths 2
Construction Status Right of 1st Refusal
HOA Y/N No
Originating Board Stellar MLS
Year Built 1929
Annual Tax Amount $1,076
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 8x56
Property Description
Under contract-accepting backup offers. Investor Alert! Consider this fix-and-flip or fix-and-hold opportunity, yielding $2,052/month as per HUD (Section 8) for a single-family residence. With Section 8, expect a 15% annual increase in rental income. A three-bedroom, two-bathroom house in Daytona Beach presents an excellent rehab prospect. Offered at $93.81/sq ft, the property's estimated ARV post-renovation stands at $225,000. It requires a new roof (see attached estimate) and has an encroachment issue (see attached survey). Estimated repairs are $40,000, with a total investment of $140,000, leading to $85,000 of instant equity. Terms are cash only, and the encroachment will remain. Anticipate a 10% cap rate on your investment or opt for refinancing and cash out.
The listing agent holds a financial interest in the seller's corporation, with a $1,000 bonus for sales closed before 8/31/2024. The numbers speak for themselves; the preliminary repair list is complete. This presents an excellent chance to acquire the property and generate monthly rental income. With the recent opening of Costco in Daytona Beach, the demand for housing has surged as people relocate to the area. As you may know, Section 8 tenants often face long waiting lists, offering a stable income stream for your investment. Whether you choose to flip the property or extract its equity, the potential for profit is significant. This property could be a lucrative investment—contact me, and I'll demonstrate how. This is a unique opportunity to become involved.
Location
State FL
County Volusia
Community Conrad & Bullard Lt 04 & 05 Blk 27 Daytona
Zoning RESIDENTIA
Interior
Interior Features Ninguno
Heating Central,Natural Gas,None
Cooling Central Air,None
Flooring Other
Furnishings Unfurnished
Fireplace false
Appliance None
Laundry Electric Dryer Hookup,Gas Dryer Hookup,Washer Hookup
Exterior
Exterior Feature Sidewalk
Garage Covered,Driveway
Utilities Available BB/HS Internet Available,Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected,Street Lights,Water Connected
Waterfront false
View City
Roof Type Shingle
Porch Front Porch,Rear Porch
Attached Garage false
Garage false
Private Pool No
Building
Story 1
Entry Level One
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Private Sewer
Water Public
Architectural Style Ranch
Structure Type Block,Stucco
New Construction false
Construction Status Right of 1st Refusal
Schools
Elementary Schools Sugar Mill Elem
Middle Schools Campbell Middle
High Schools Spruce Creek High School
Others
Pets Allowed Cats OK,Dogs OK
Senior Community No
Ownership Fee Simple
Acceptable Financing Assumable,Cash
Listing Terms Assumable,Cash
Special Listing Condition None