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Pending

547 DIVISION ST Daytona Beach, FL 32114

3 Beds

2 Baths

1,066 SqFt

UPDATED:

08/01/2024 10:29 PM

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

Parking Type Covered, Driveway

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

Listed by ONE KEY REALTY

CB Premier

Agent

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547 DIVISION ST Daytona Beach, FL 32114

Key Details

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Interior

Exterior

Building

Schools

Others

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547 DIVISION ST