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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.
| DAYS ON MARKET | 57 | LAST UPDATED | 8/1/2024 |
|---|---|---|---|
| TRACT | CONRAD & BULLARD LT 04 & 05 BLK 27 DAYTONA | YEAR BUILT | 1929 |
| COMMUNITY | 32114 - Daytona Beach | COUNTY | Volusia |
| STATUS | Pending | PROPERTY TYPE(S) | Single Family |
| Elementary School | Sugar Mill Elem |
|---|---|
| Jr. High School | Campbell Middle |
| High School | Spruce Creek High School |
| ADDITIONAL DETAILS | |
| AIR | Central Air, None |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | None |
| AREA | 32114 - Daytona Beach |
| BASEMENT | Crawl Space |
| CONSTRUCTION | Block, Stucco |
| HEAT | Central, Natural Gas, None |
| LOT | 4792 sq ft |
| LOT DIMENSIONS | 8x56 |
| PARKING | Covered, Driveway |
| SEWER | Private Sewer |
| STORIES | 1 |
| STYLE | Ranch |
| SUBDIVISION | CONRAD & BULLARD LT 04 & 05 BLK 27 DAYTONA |
| TAXES | 1076.8 |
| UTILITIES | Natural Gas Available, Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
| ZONING | RESIDENTIA |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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*Estimate only
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Listing provided by Michael Aversano, ONE KEY REALTY, 305-525-8947
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 9/19/24 11:43 PM PDT.
This IDX solution is (c) Diverse Solutions 2024.