Apartment Building with Updated
For Sale
$960,000
1307 COOK Street, Deland, FL 32724
MULTI_FAMILY - DELAND, FL
Property Size4,500 SF
Lot Size0.34 Acres
Price / SF$213.33
Days on Market564
Property Features for 1307 COOK Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
01R6
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 11, Bathroom 3, Bathroom 5, Bedroom 12, Bedroom 8, Bathroom 1, Bedroom 9, Bathroom 6, Bedroom 7, Bedroom 10
Interior features
Open Floorplan, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Surface Counters
Exterior features
Balcony, Sidewalk
Subdivision
BALLARD HEIGHTS IN DEANBURG 04-17-30
Directions
Hwy 17-92 to Kentucky Ave,right to Cook St,left on Cook St ,building on the right
Standard status
Active
APN
04-17-30-09-00-0360
Size
4,500 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
4-17-30 LOTS 36 TO 39 INC BALLARD HEIGHTS DEANBURG MB 7 PG 49 PER OR 4013 PG 2000 PER OR 5755 PGS 2300-2301
Tax Annual Amount
5637
Legal Description
4-17-30 LOTS 36 TO 39 INC BALLARD HEIGHTS DEANBURG MB 7 PG 49 PER OR 4013 PG 2000 PER OR 5755 PGS 2300-2301
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
2
Number of units
6
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
SOUTHERN REALTY ENTERPRISES
(407) 869-0033
Listed By:
Frank Filippelli · License #316243
(407) 448-1042
Added: Jan 20, 2025
Changed: Aug 2
Last Checked: Aug 7 at 5:06AM
MLS# O6273286
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment building features solid block construction and a mix of interior finishes highlighted by solid surface counters and tile flooring. The property includes balconies and sidewalks, and it is served by electric heating with central air conditioning. Public water and public sewer are available, and all units have separate electric meters.
The building was constructed in 1972 and sits on a 0.34-acre lot at 1307 Cook Street in DeLand, FL 32724. Interior updates have been completed in 5 of the 6 units, supporting an easy-to-manage rental setup.
Reported as an approximate 7% cap rate, the property represents a straightforward option for residential income, including some units described as currently below market.
The building was constructed in 1972 and sits on a 0.34-acre lot at 1307 Cook Street in DeLand, FL 32724. Interior updates have been completed in 5 of the 6 units, supporting an easy-to-manage rental setup.
Reported as an approximate 7% cap rate, the property represents a straightforward option for residential income, including some units described as currently below market.
Key Highlights
- 0.34‑acre lot with 4,500 SF apartment building
- All units have separate electric meters
- Interiors updated in 5 of the 6 units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,290
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$685,800
$685.8K
Cap Rate 7%
$489,857
$489.9K
Cap Rate 9%
$381,000
$381.0K
Market Conditions
NOI Build-Up for 4,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.7K $15.48/SF
− Vacancy
−$7.3K −$1.63/SF
EGI
$62.3K $13.85/SF
− OpEx
−$28.1K −$6.23/SF
NOI
$34.3K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$685,800
Cap Rate 7%
$489,857
Cap Rate 9%
$381,000
Alternative Uses
Best Use
Apartment 5plus
$489.9K
$428.6K – $571.5K
NOI $34,290 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,880 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 32724, FL
40,559
Population
18,555
Households
2.2
Avg Household Size
45
Median Age
31%
College-Educated
92%
High-School Grad
83.8 sq mi
ZIP Area
484
Density / Sq Mi
$72,729
Median Household Income
$41,204
Median Earnings
$1,184
Median Rent
$283,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building on a 0.34-acre lot with separate electric meters and interior updates in 5 of 6 units.
Where is this apartment building located?
The property is located at 1307 COOK Street Deland, FL.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 0.34‑acre lot with 4,500 SF apartment building; All units have separate electric meters; Interiors updated in 5 of the 6 units
