$100,000 pending
547 division street, daytona beach, FL 32114
| Beds 3 | Baths 2 | 1,066 Sqft | 0.11 Acres |
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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.
General Information
Sale Price: $100,000
Price/SqFt: $94
Status: Pending
MLS#: O6226938
City: daytona beach
Post Office: daytona beach
Schools: spruce creek high school
County: Volusia
Subdivision: conrad & bullard lt 04 & 05 blk 27 daytona
Acres: 0.11
Lot Dimensions: 8 x 56
Bedrooms:3
Bathrooms:2 (2 full, 0 half)
House Size: 1,066 sq.ft.
Acreage: 0.11 est.
Year Built: 1929
Property Type: Single Family Residence
Style: Ranch
Features & Room Sizes
Paved Road: Asphalt
Garage: No
Construction: Block, Stucco
Exterior Misc: Sidewalk
Basement: No
Foundation : Crawlspace
Appliances: None
Cooling: Central Air, None
Heating: Central, Natural Gas, None
Waste: Private Sewer
Watersource: Public
Tax, Fees & Legal
Est. Summer Taxes: $0
Est. Winter Taxes: $1,077
Legal Description: S 25 FT OF LOT 18 & INC N 15 FT OF LOT 10 & N 23 FT OF LOT 11 BLK 5 SUB LOTS 4 & 5 BLK 27 DAYTONA MB 15 PG 133 PER OR 4922 PGS 2225-2226 PER OR 5549 PG 4421 PER OR 5609 PG 4051 PER OR 7777 PG 4793 PER OR 8265 PGS 0341-0402 INC PER OR 8308 PG 0229
Information provided by My Florida Regional MLS DBA Stellar MLS, Copyright 2024
All information provided is deemed reliable but is not guaranteed and should be independently verified. Participants are required to indicate on their websites that the information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing By: Michael Aversano of ONE KEY REALTY, Phone: 305-525-8947
