Quadplex with Updated
For Sale
$499,000
Pending
124 S Noble Street, Daytona Beach, FL 32118
MULTI_FAMILY - Daytona Beach, FL
Property Size1,930 SF
Lot Size0.09 Acres
Days on Market51
Property Features for 124 S Noble Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Multi Family
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4
Parking features
Driveway
Appliances
Washer/Dryer Stacked, Washer, Tankless Water Heater, Refrigerator, Electric Range, Electric Oven, Dryer
Subdivision
Not In Subdivision
Directions
From A1A and International Speedway, head north to Harvey Ave, go Left then Left onto S Wild Olive Ave and quick Left onto S Noble St., property on the right
Standard status
Pending
APN
5309-10-00-0030
Size
1,930 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 80.5 FT OF LOT C HORN & KITTREDGE SUB DAYTONA BEACH MB 5 PG 198 MB 22 PG 65 PER OR 4630 PGS 4061-4062 PER OR 5480 PG 0027 PER OR 6295 PGS 2220-2222 INC PER OR 6371 PGS 2925-2926 PER OR 7331 PG 2810 PER OR 7371 PG 2922 PER OR 8007 PG 1585 PER OR 8190 PG
Tax Annual Amount
6508
Legal Description
E 80.5 FT OF LOT C HORN & KITTREDGE SUB DAYTONA BEACH MB 5 PG 198 MB 22 PG 65 PER OR 4630 PGS 4061-4062 PER OR 5480 PG 0027 PER OR 6295 PGS 2220-2222 INC PER OR 6371 PGS 2925-2926 PER OR 7331 PG 2810 PER OR 7371 PG 2922 PER OR 8007 PG 1585 PER OR 8190 PG
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Flooring type
Laminate
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
Lifestyle Realty Group Inc
(386) 951-6565
Listed By:
Cecilia Perez Gonzalez
(661) 378-1955
Added: Jun 21
Changed: Jul 29
Last Checked: Aug 10 at 12:06PM
MLS# 1227780
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 quadplex offers four updated units in a compact footprint on a 0.09-acre lot. The property includes two 1-bedroom, 1-bath apartments and two efficient studio units. Each unit is equipped with appliances and provides in-unit laundry with washer/dryer. For heating and cooling, the units feature mini-split air conditioning systems, along with tankless water heaters.
The building construction is described as frame with stucco, with laminate flooring. Parking is provided via a driveway. The roof is identified as a shingle roof and is noted as newer, with installation in 2024.
Utilities and services are listed as public water with public sewer. The property was built in 1940, and the available information includes electric heating and a combination of included appliances such as refrigerators, electric ranges, and electric ovens.
The building construction is described as frame with stucco, with laminate flooring. Parking is provided via a driveway. The roof is identified as a shingle roof and is noted as newer, with installation in 2024.
Utilities and services are listed as public water with public sewer. The property was built in 1940, and the available information includes electric heating and a combination of included appliances such as refrigerators, electric ranges, and electric ovens.
Key Highlights
- Four updated units: two 1‑bedroom, 1‑bath plus two studio apartments
- In‑unit washer/dryer; appliances included across units
- Mini‑split air conditioning systems and tankless water heaters in each unit
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
Multi-tenant
Tenancy
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 include two 1-bedroom and two studio apartments with mini-split HVAC and tankless water heaters.
Where is this quadplex located?
The property is located at 124 S Noble Street 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: Four updated units: two 1‑bedroom, 1‑bath plus two studio apartments; In‑unit washer/dryer; appliances included across units; Mini‑split air conditioning systems and tankless water heaters in each unit
