Updated Quadplex Investment
For Sale
$499,000
Pending
124 S NOBLE, Daytona Beach, FL 32118
Four updated units with modern mechanicals, including mini-split HVAC and tankless water heaters.
Property Size1,930 SF
Days on Market48
Property Features for 124 S NOBLE
General Information
Standard status
Pending
Size
1,930 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,247
Building Details
Building Size
1,930 SF
Year Built
1940
Units
4
Tenancy
Multi
Listing Agency:
Lifestyle Realty Group Inc
(661) 378-1955
Listed By:
Cecilia Perez Gonzalez
(661) 378-1955
Source:
Elliman
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 10 at 8:16AM
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 Lifestyle Realty Group Inc
Investment Insights
Based on property information with market context.
This updated quadplex consists of four residential units: two 1-bedroom, 1-bath apartments and two efficient studio units. Each 1-bedroom unit includes an in-unit washer and dryer. The property features a newer roof installed in 2024, and all units are equipped with mini-split air conditioning systems and tankless water heaters.
Located near the beach, the area offers access to restaurants, entertainment, and shopping, with beachside attractions nearby. WalkScore is listed as 66 (somewhat walkable), BikeScore is 55 (bikeable), and transitScore is 31 (some transit), supporting a mix of nearby everyday conveniences.
For buyers and investors, the combination of updated interiors and newer roof reduces immediate exterior concerns, while unit-level mechanicals (mini-splits and tankless water heaters) are designed for individualized comfort across the four homes. The seller’s remarks also indicate a gross annual income of $62,400. Buyers and their agents are advised to verify all information important to their decision.
Located near the beach, the area offers access to restaurants, entertainment, and shopping, with beachside attractions nearby. WalkScore is listed as 66 (somewhat walkable), BikeScore is 55 (bikeable), and transitScore is 31 (some transit), supporting a mix of nearby everyday conveniences.
For buyers and investors, the combination of updated interiors and newer roof reduces immediate exterior concerns, while unit-level mechanicals (mini-splits and tankless water heaters) are designed for individualized comfort across the four homes. The seller’s remarks also indicate a gross annual income of $62,400. Buyers and their agents are advised to verify all information important to their decision.
Key Highlights
- Quadplex built in 1940 with 4 updated units and gross annual income of $62,400
- Roof replaced in 2024
- Unit mix: two 1‑bedroom, 1‑bath units plus two studio units
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
$16,931
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
3.39%
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%
$338,620
$338.6K
Cap Rate 7%
$241,871
$241.9K
Cap Rate 9%
$188,122
$188.1K
Market Conditions
NOI Build-Up for 1,930 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
$26.9K $13.92/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$24.2K $12.53/SF
− OpEx
−$7.3K −$3.76/SF
NOI
$16.9K $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%
$338,620
Cap Rate 7%
$241,871
Cap Rate 9%
$188,122
Alternative Uses
Best Use
Multifamily LT 5
$241.9K
$211.6K – $282.2K
NOI $16,931 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$210.1K
$183.8K – $245.1K
NOI $14,707 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$569.1K
$497.9K – $663.9K
NOI $39,835 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
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?
Quadplex - Four updated units with modern mechanicals, including mini-split HVAC and tankless water heaters.
Where is this quadplex located?
The property is located at 124 S NOBLE Daytona Beach, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Quadplex built in 1940 with 4 updated units and gross annual income of $62,400; Roof replaced in 2024; Unit mix: two 1‑bedroom, 1‑bath units plus two studio units
