1. Florida
2. Daytona Beach
3. 547 DIVISION STREET

547 DIVISION STREET, Daytona Beach, FL 32114

• 3 beds |
• 2 baths |
• 1,066 sqft

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.

Listing Status:

Pending

Date Added:

July 26, 2024 at 05:00AM

Listing Office:

ONE KEY REALTY : 305-525-8947

Listing Agent:

Michael Aversano : 305-525-8947

MLS ID:

O6226938

Interior

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Financial

This listing courtesy of Michael Aversano, ONE KEY REALTY