Updated Efficiency Condo by Halifax
1401 S PALMETTO AVENUE 119 Daytona Beach, FL 32114
For Sale
$119,000
Affordable, updated first-floor efficiency condo in a gated community.
Property Size540 SF
Lot Size14.54 Acres
Price / SF$220.37
Days on Market596
Property Features for 1401 S PALMETTO AVENUE 119
General Information
- Standard status
- Active
- Size
- 540 SF
- Lot size
- 14.54 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1987
Listing Agency:
MG REAL ESTATE GROUP
(386) 314-9502
Listed By:
Matt Guarro · License #3213837
(386) 314-9502
Source:
Exitrealty
Added: Dec 4, 2024
Changed: Jul 6
Last Checked: Jul 23 at 4:04AM
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 MG REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
Located in the gated Preserve at Rivers Edge complex on the Halifax River, this updated first-floor efficiency condo offers convenient access to community amenities. The 540-square-foot unit is situated next to the community pool, spa, clubhouse, gym, car wash area, and dog park. It includes a stackable washer and dryer. The property features a new AC unit installed in September 2023 and a new hot water heater installed in October 2022. The complex is located close to the "Worlds most Famous Beach".
Key Highlights
- First‑floor efficiency condo on the Halifax River in a gated community.
- Updated unit with new AC (9/23) and hot water heater (10/22).
- Enjoy the community pool, spa, clubhouse, gym, car wash, and dog park.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $8.4k | $15.48 |
| − Vacancy | −$878 | −$1.63 |
| EGI | $7.5k | $13.85 |
| − OpEx | −$3.4k | −$6.23 |
| NOI | $4.1k | $7.62 |
540 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$58.8K
$51.4K – $68.6K
NOI $4,115 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$159.2K
$139.3K – $185.8K
NOI $11,146 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Preserve At Rivers Edge
Apartment Building
Cast and Blast Outfitters
Hunting Preserve
New Town Services ...
Roofing Company
FAQs
What type of property is this?
Residential income property - Affordable, updated first-floor efficiency condo in a gated community.
Where is this residential income property located?
The property is located at 1401 S PALMETTO AVENUE 119 Daytona Beach, FL.
What is the asking price?
The asking price for this property is $119,000.
What are key features of this property?
This property features: First‑floor efficiency condo on the Halifax River in a gated community.; Updated unit with **new AC (9/23) and hot water heater (10/22)**.; Enjoy the community pool, spa, clubhouse, gym, car wash, and dog park.
