4-Unit Income Property Near
For Sale
$398,999
415 VERMONT, Daytona Beach, FL 32118
Four tenants have separate power meters; two rear garage units are leased month-to-month.
Property Size2,540 SF
Days on Market55
Property Features for 415 VERMONT
General Information
Standard status
Active
Size
2,540 SF
Property subtype
Investment
Occupancy
50%
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,682
Building Details
Building Size
2,540 SF
Year Built
1908
Listing Agency:
Sloane Realty, LLC
(407) 758-3166
Listed By:
Matt White · License #3106449
(407) 758-3166
Source:
Elliman
Added: Jul 5
Changed: Aug 27
Last Checked: Aug 26 at 12:50PM
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 Sloane Realty, LLC
Investment Insights
Based on property information with market context.
This 4-unit income property includes four separate tenant power meters, helping keep landlord utility overhead to approximately $350/month in water costs. A detached 1-car garage provides additional on-site space, with room to potentially convert it to a fifth efficiency unit or expand an adjacent unit, depending on execution. The listing notes that financials are pro-forma, with two units currently vacant. The two rear/garage units are leased month-to-month to long-term tenants at $900 and $1,050, noted as below market rates.
The property is described as beachside, located about two blocks from the ocean.
In addition to the garage and layout, one tenant reportedly handles basic lawn maintenance, supporting a lower-management operating profile based on the information provided.
The property is described as beachside, located about two blocks from the ocean.
In addition to the garage and layout, one tenant reportedly handles basic lawn maintenance, supporting a lower-management operating profile based on the information provided.
Key Highlights
- 1908‑built 4‑unit income property located just 2 blocks from the ocean.
- Four separate power meters (each tenant pays their own power), with landlord water costs noted at approx. $350/month.
- Two rear/garage units are leased month‑to‑month to long‑term tenants at $900 and $1,050.
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
$22,282
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
5.58%
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%
$445,640
$445.6K
Cap Rate 7%
$318,314
$318.3K
Cap Rate 9%
$247,578
$247.6K
Market Conditions
NOI Build-Up for 2,540 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
$35.4K $13.92/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$31.8K $12.53/SF
− OpEx
−$9.5K −$3.76/SF
NOI
$22.3K $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%
$445,640
Cap Rate 7%
$318,314
Cap Rate 9%
$247,578
Alternative Uses
Best Use
Multifamily LT 5
$318.3K
$278.5K – $371.4K
NOI $22,282 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$276.5K
$241.9K – $322.6K
NOI $19,355 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$748.9K
$655.3K – $873.8K
NOI $52,426 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
757
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 tenants have separate power meters; two rear garage units are leased month-to-month.
Where is this quadplex located?
The property is located at 415 VERMONT Daytona Beach, FL.
What is the asking price?
The asking price for this property is $398,999.
What are key features of this property?
This property features: 1908‑built 4‑unit income property located just 2 blocks from the ocean.; Four separate power meters (each tenant pays their own power), with landlord water costs noted at approx. $350/month.; Two rear/garage units are leased month‑to‑month to long‑term tenants at $900 and $1,050.
