Two-Unit Duplex with
For Sale
$299,900
Pending
143 E SOUTH Street, Deland, FL 32724
Residential Income, DELAND, FL
Property Size1,817 SF
Lot Size0.23 Acres
Days on Market219
Property Features for 143 E SOUTH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
01R6
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1
Pets allowed
Yes
Interior features
Open Floorplan, Primary Bedroom Main Floor
Exterior features
Storage
Subdivision
BALLARD HEIGHTS IN DEANBURG 04-17-30
Elementary school
George Marks Elem
Middle school
Deland Middle
High school
Deland High
Directions
N on 17-92, R on South St behind Won Lee's.
Standard status
Pending
APN
7004-09-00-0720
Size
1,817 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4-17-30 LOTS 72 TO 75 INC BALLARD HEIGHTS DEANBURG MB 7 PG 49 PER OR 5226 PG 2608 PER OR 7792 PG 4513
Tax Annual Amount
4414
Legal Description
4-17-30 LOTS 72 TO 75 INC BALLARD HEIGHTS DEANBURG MB 7 PG 49 PER OR 5226 PG 2608 PER OR 7792 PG 4513
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Number of units
2
Flooring type
Wood, Vinyl, Tile
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
RLW REALTY
(352) 771-2560
Listed By:
Logan Wilson · License #3248440
(352) 771-2560
Added: Jan 22
Changed: Aug 20
Last Checked: Aug 29 at 8:06PM
MLS# O6376348
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.
Located at 143 E. South Street in DeLand, this duplex contains 2 units and 1,817 square feet of total living area on a 0.23-acre parcel. The 1959 block-built property includes wood, tile, and vinyl flooring, central heating and cooling, storage, and a shingle roof. Interior features include an open floorplan and a primary bedroom on the main floor. The property is served by public water and a septic tank, with cable available. Recent work includes a roof replacement in 2021, window replacements, and drainfield replacement.
The property is positioned in an in-town DeLand setting near Downtown dining, the Stetson University area, shopping, and major corridors. Zoning is 01R6, and the site measures 100' x 100'.
The property is positioned in an in-town DeLand setting near Downtown dining, the Stetson University area, shopping, and major corridors. Zoning is 01R6, and the site measures 100' x 100'.
Key Highlights
- Duplex with 2 units and 1,817 SF of total living area
- 0.23‑acre lot measuring 100' x 100'
- Roof replacement completed in 2021, plus window and drainfield replacements
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
$15,940
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
5.32%
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%
$318,800
$318.8K
Cap Rate 7%
$227,714
$227.7K
Cap Rate 9%
$177,111
$177.1K
Market Conditions
NOI Build-Up for 1,817 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
$25.3K $13.92/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$22.8K $12.53/SF
− OpEx
−$6.8K −$3.76/SF
NOI
$15.9K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
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%
$318,800
Cap Rate 7%
$227,714
Cap Rate 9%
$177,111
Alternative Uses
Best Use
Multifamily LT 5
$227.7K
$199.3K – $265.7K
NOI $15,940 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$197.8K
$173.1K – $230.8K
NOI $13,846 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$535.8K
$468.8K – $625.1K
NOI $37,503 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
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?
Duplex - Central DeLand property with block construction, public water, and septic service.
Where is this duplex located?
The property is located at 143 E SOUTH Street Deland, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Duplex with 2 units and 1,817 SF of total living area; 0.23‑acre lot measuring 100' x 100'; Roof replacement completed in 2021, plus window and drainfield replacements
