Renovated Quadplex with Main
New
For Sale
$1,050,000
61 Division Avenue, Ormond Beach, FL 32174
Residential Income, Ormond Beach, FL
Property Size5,006 SF
Lot Size0.35 Acres
Price / SF$209.75
Days on Market2
Property Features for 61 Division Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Multi Family
Bedrooms
9
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 8, Bathroom 6, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 7, Bathroom 7, Bathroom 2, Bedroom 9, Bathroom 5, Bathroom 3, Bedroom 2, Bedroom 3
Parking
6
Parking features
Parking Lot
Fireplace
1
Appliances
Electric Range, Electric Oven
Subdivision
Village of Melrose
Directions
Take Beach Street from Granada South and turn right (West) on Division Ave. Home on the right side of the street. Apartment building located in the back of the main home.
Standard status
Active
APN
4222-09-10-0100
Size
5,006 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 70 FT & W 3 FT OF E 30 FT OF S 72 FT OF N 144 FT OF LOT 10 BLK 10 MELROSE ORMOND DB C PG 246 PER OR 4937 PG 3441 PER OR 5632 PG 4835 PER OR 7994 PG 4965 PER OR 8542 PG 1597
Tax Annual Amount
5570
Legal Description
W 70 FT & W 3 FT OF E 30 FT OF S 72 FT OF N 144 FT OF LOT 10 BLK 10 MELROSE ORMOND DB C PG 246 PER OR 4937 PG 3441 PER OR 5632 PG 4835 PER OR 7994 PG 4965 PER OR 8542 PG 1597
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Floors in Building
3
Number of units
4
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
RE/MAX Signature · RE/MAX International
(386) 236-0760
Listed By:
Amy Hall · License #SL3504678
(386) 566-3828
Added: Sep 20
Last Checked: Sep 21 at 2:06AM
MLS# 1231014
Copyright © 2026 Daytona Beach Area Association of Realtors. 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 5,006-square-foot quadplex combines a 4BR/3BA primary residence with three additional apartments: one 1BR/1BA unit and two 2BR/1BA units. Improvements include new roofs, HVAC systems, appliances, flooring, and cabinetry. The apartment units have separate electrical meters, while the property also offers central heating and cooling, laminate flooring, block construction, a shingle roof, a fireplace, and parking.
Set on 0.35 acres at 61 Division Avenue in Ormond Beach, the property is one block from the river and near dining, shopping, and entertainment along Granada Blvd. Public water and sewer serve the property, with cable available. Built in 1968, the flexible configuration accommodates multiple independent living spaces within one residential income property.
Set on 0.35 acres at 61 Division Avenue in Ormond Beach, the property is one block from the river and near dining, shopping, and entertainment along Granada Blvd. Public water and sewer serve the property, with cable available. Built in 1968, the flexible configuration accommodates multiple independent living spaces within one residential income property.
Key Highlights
- 5,006‑square‑foot quadplex on 0.35 acres
- 4BR/3BA main residence plus 1BR/1BA and two 2BR/1BA apartments
- New roofs, HVAC systems, appliances, flooring, and cabinetry
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
$43,915
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
4.18%
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%
$878,300
$878.3K
Cap Rate 7%
$627,357
$627.4K
Cap Rate 9%
$487,944
$487.9K
Market Conditions
NOI Build-Up for 5,006 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 $13.92/SF
− Vacancy
−$6.9K −$1.39/SF
EGI
$62.7K $12.53/SF
− OpEx
−$18.8K −$3.76/SF
NOI
$43.9K $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%
$878,300
Cap Rate 7%
$627,357
Cap Rate 9%
$487,944
Alternative Uses
Best Use
Multifamily LT 5
$627.4K
$548.9K – $731.9K
NOI $43,915 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$544.9K
$476.8K – $635.8K
NOI $38,146 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,324 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Separate living spaces feature updated interiors and independent electrical metering for the apartment units.
Where is this quadplex located?
The property is located at 61 Division Avenue Ormond Beach, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 5,006‑square‑foot quadplex on 0.35 acres; 4BR/3BA main residence plus 1BR/1BA and two 2BR/1BA apartments; New roofs, HVAC systems, appliances, flooring, and cabinetry
