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    The Largest CRE Database in the US with Over 1 Million Listings

    1401 E Carolina Ave Deland, FL 32724

    Sponsored
    For Sale
    Pending
    $194,900

    Duplex - DELAND, FL

    Type:Duplex
    Property size:
    720 SF
    Lot size:
    0.20 Acres
    Days on Market:
    42
    Last Refresh:
    Jan 27 at 5:06 pm

    Property Features for 1401 E Carolina Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Pending
    Zoning
    01R4
    Rooms
    Bedroom 1, Bedroom 2
    Bedrooms
    2
    APN
    7015-14-01-0081
    Interior features
    Ceiling Fans(s), Living Room/Dining Room Combo, Stone Counters, Window Treatments
    Exterior features
    Garden, Storage
    Appliances
    Range, Refrigerator
    Size
    720 SF
    Lot size
    0.20 Acres

    Utilities

    Heating system
    Ductless (Heating)
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1958
    Number of units
    2
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Thomas Nickley

    Orlando Central Realty LLC DBA Keller Williams Realty at the Parks (407) 629-4420

    Listing agent Thomas Nickley, Jr (407) 629-4420 License #3275393

    Listing date Dec 17, 2025

    MLS# O6298076 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Income-Producing Duplex on Corner Lot

    This concrete block duplex presents an opportunity for both homeowners and investors. The property is situated on an oversized corner lot, offering potential for additional income-producing facilities such as storage and laundry. Exterior upgrades include fresh paint, landscaping, a new front door, and new front porch lights. Interior upgrades feature new texture on the block interior walls, fresh paint, a new AC unit, luxury vinyl floors, interior doors, new fixtures, lights, and blinds. The redesigned kitchen offers more functionality and cabinet space, granite counters, and stainless steel appliances. The bathroom includes a new vanity and vinyl floors. The plumbing was updated with PVC in 2014, and the roof was replaced in 2014. The property offers 720 square feet of space and is located in DELAND, FL. It is zoned 01R4. This property is suitable for those seeking to offset their mortgage with rental income or investors looking to expand their portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Deland
    County
    Volusia
    State
    Florida
    Longitude
    -81.276226
    Latitude
    29.025699

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    FAQs

    What type of property is this?
    Duplex - Affordable duplex with income potential on an oversized corner lot.
    Where is this duplex located?
    The property is located at 1401 E Carolina Ave Deland, FL.
    What is the asking price?
    The asking price for this property is $194,900.
    What are key features of this property?
    This property features: - Income-producing duplex, great for house hacking or investment.; - Fully concrete block construction.; - Oversized corner lot with potential for additional income.
    (407) 629-4420
    Request Owner's contact information
    1401 E Carolina Ave Deland, FL 32724
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    Deland, FL 32724
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1401 E Carolina Ave Deland, FL 32724
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    We can help!
    Listing Contact
    Thomas Nickley
    Real Estate License ID: 3275393
    (407) 629-4420
    Learn more
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