Multifamily Property in
For Sale
$475,000
1 SMITH Ct, Deland, FL 32724
Multifamily property with five units on 2.11 acres.
Property Size2,390 SF
Lot Size2.11 Acres
Days on Market221
Property Features for 1 SMITH Ct
General Information
Standard status
Active
Size
2,390 SF
Lot size
2.11 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,941
Building Details
Building Size
2,390 SF
Year Built
1936
Units
5
Listed By:
Barbara Girtman · License #3264315
(386) 308-9058
Source:
Elliman
Added: Mar 12
Changed: Oct 17
Last Checked: Oct 16 at 10:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Barbara Girtman
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Investment Insights
Based on property information with market context.
This multifamily property in DeLand, Florida, features five units situated on a 2.11-acre parcel zoned for multifamily use. The units consist of three 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and a duplex with two 1-bedroom/1-bathroom units. The property is conveniently located near shopping, transportation, downtown DeLand, a hospital, and major highways. The units share a septic system and water supply, while electricity is metered separately for each unit.
Key Highlights
- Multifamily zoning on 2.11 acres offers excellent development potential.
- Five units included: three 1/1 units, one 2/1 unit, and one duplex (each side 1/1).
- Convenient location near shopping, transportation, downtown, hospital, and major highways.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,212
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,240
$364.2K
Cap Rate 7%
$260,171
$260.2K
Cap Rate 9%
$202,356
$202.4K
Market Conditions
NOI Build-Up for 2,390 SF
Gross rent
$37.0K $15.48/SF
− Vacancy
−$3.9K −$1.63/SF
EGI
$33.1K $13.85/SF
− OpEx
−$14.9K −$6.23/SF
NOI
$18.2K $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 Rate 5%
$364,240
Cap Rate 7%
$260,171
Cap Rate 9%
$202,356
Alternative Uses
Best Use
Apartment 5plus
$260.2K
$227.7K – $303.5K
NOI $18,212 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$704.7K
$616.6K – $822.2K
NOI $49,330 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
490
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
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with five units on 2.11 acres.
Where is this multifamily property located?
The property is located at 1 SMITH Ct Deland, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Multifamily zoning on 2.11 acres offers excellent development potential.; Five units included: three 1/1 units, one 2/1 unit, and one duplex (each side 1/1).; Convenient location near shopping, transportation, downtown, hospital, and major highways.
