547 Division STREET, Daytona Beach, FL, 32114
8 rooms
3 beds
2 Full baths
1929
Ranch
1,066 sqft
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.
Status:
Pending
Type:
Single-family residential
Furnished Remarks:
Unfurnished
Laundry Remarks:
Electric Dryer Hookup, Gas Dryer Hookup, Washer Hookup
Subdivision:
CONRAD & BULLARD LT 04 & 05 BLK 27 DAYTONA
Garage:
Covered, Driveway
Heating:
Central, Natural Gas, None
Cooling:
Central Air, None
Levels:
1
Lot Size:
8 x 56
Acreage:
0.11
Est. Taxes:
$1,077
Construction
Block, Stucco
Utilities
BB/HS Internet Available, Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Street Lights, Water Connected
View Description:
City
Elementary School:
Sugar Mill Elem
Middle School:
Campbell Middle
High School:
Spruce Creek High School
Days on Market:
6
Pet Policy:
Cats OK, Dogs OK
Appliances:
None
Min Lease Term:
1-2 Years
MLS #:
O6226938
Community Info
School Info
Walk Score
Yelp
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Listing courtesy of One Key Realty Phone: 305-525-8947