Waterfront Condominium on St John's
2329 RIVER RIDGE ROAD 13 Deland, FL 32720
2329 RIVER RIDGE ROAD 13, Deland, FL, 32720
$279,900
For Sale
$279,900
Updated waterfront condominium in a 55+ community on St. John's River.
Property Size1,330 SF
Lot Size1.10 Acres
Price / SF$210.45
Days on Market569
Property Features for 2329 RIVER RIDGE ROAD 13
General Information
- Standard status
- Active
- Size
- 1,330 SF
- Lot size
- 1.10 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1974
Listing Agency
UNITED REAL ESTATE PREFERRED
(386) 747-6513
Listed by
Christie Vaccaro · License #3358252
(386) 747-6513
Source
Exitrealty
Added: Dec 27, 2024 Checked: Jul 19 at 3:20 am
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 UNITED REAL ESTATE PREFERRED
Investment Insights
Based on property information with market context.
This updated waterfront condominium offers a living space of 1330 square feet. It features LVP flooring throughout, appliances, ceiling fans, new interior doors, upgraded bathrooms, a hot water heater, and AC. The property includes screened porches accessible from both the living room and the primary bedroom, providing views of the river. The exterior of the building is well-maintained and has been freshly painted, with a new roof, gutters, and new fencing installed in 2024. Located in a 16-unit community on the St John's River in Deland, Florida, the property is conveniently located near the newly renovated Sunrail and Amtrak Station, as well as shopping, restaurants, businesses, and entertainment in Downtown Deland. This 55+ community adheres to an 80/20 rule, allowing for some ownership by individuals under 55.
Key Highlights
- Waterfront condominium on the St. John's River with spectacular views
- Updated condo with LVP flooring, upgraded bathrooms, new interior doors, hot water heater and AC
- Convenient location near the newly renovated Sunrail and Amtrak station and Downtown Deland
Local 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 | $20.6k | $15.48 |
| − Vacancy | −$2.2k | −$1.63 |
| EGI | $18.4k | $13.85 |
| − OpEx | −$8.3k | −$6.23 |
| NOI | $10.1k | $7.62 |
1,330 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$144.8K
$126.7K – $168.9K
NOI $10,135 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$392.2K
$343.1K – $457.5K
NOI $27,451 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Updated waterfront condominium in a 55+ community on St. John's River.
Where is this residential income property located?
The property is located at 2329 RIVER RIDGE ROAD 13 Deland, FL.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Waterfront condominium on the St. John's River with spectacular views; Updated condo with LVP flooring, upgraded bathrooms, new interior doors, hot water heater and AC; Convenient location near the newly renovated Sunrail and Amtrak station and Downtown Deland
