Four-Unit Multifamily
For Sale
$375,000
161 W 2ND Avenue, Pierson, FL 32180
Residential Income, PIERSON, FL
Property Size2,870 SF
Lot Size0.27 Acres
Price / SF$130.66
Days on Market31
Property Features for 161 W 2ND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
B-1
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 7, Bedroom 3, Bedroom 4
Patio and Porch features
Porch
Interior features
Ninguno
Exterior features
Private Entrance
Basement
Crawl Space
Subdivision
KINNELLS PIERSON
Lot features
Corner Lot, City Limits, Irregular Lot, Level, Oversized Lot, Paved
Elementary school
Pierson Elem
Middle school
T. Dewitt Taylor Middle-High
High school
T. Dewitt Taylor Middle-High
Directions
From Highway 17, turn west onto 2nd Avenue in Pierson. Property is on the left.
Standard status
Active
APN
14-28-34-05-00-0370
Size
2,870 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Portion of LOT 36 EXC W 13 FT & LOTS 37 TO 40 INC KINNELLS PIERSON PER OR 2479 PG 1908 (See Proposed Parcel 1)
Tax Annual Amount
3469
Legal Description
Portion of LOT 36 EXC W 13 FT & LOTS 37 TO 40 INC KINNELLS PIERSON PER OR 2479 PG 1908 (See Proposed Parcel 1)
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1932
Floors in Building
2
Building materials
Frame
Roof type
Metal
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Debby Sommer · License #3511504
(386) 414-0162
Added: Jul 30
Changed: Aug 25
Last Checked: Aug 29 at 11:06AM
MLS# V4950481
Copyright © 2026 Stellar MLS. 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 four-unit multifamily property at 161 W 2ND Avenue in Pierson, Florida, provides 2,870 square feet of residential space on a 0.27-acre parcel. The frame-built property dates to 1932 and includes private entrances, porch features, window and wall/window cooling units, and a metal roof. Public water serves the property, while wastewater service is provided through a septic tank.
Recent capital improvements include a metal roof installed in 2023 and a septic system completed in 2025. The property carries B-1 zoning and is located in Volusia County, less than 60 miles from Orlando. Cable service is available, and the property is near the St. Johns River, Lake George, natural springs, parks, boating, fishing areas, hiking trails, nature preserves, and Florida’s Atlantic Coast.
Recent capital improvements include a metal roof installed in 2023 and a septic system completed in 2025. The property carries B-1 zoning and is located in Volusia County, less than 60 miles from Orlando. Cable service is available, and the property is near the St. Johns River, Lake George, natural springs, parks, boating, fishing areas, hiking trails, nature preserves, and Florida’s Atlantic Coast.
Key Highlights
- Four rental units on a single property
- 2,870 square feet on a 0.27‑acre parcel
- Metal roof installed in 2023
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
$25,177
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
6.71%
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%
$503,540
$503.5K
Cap Rate 7%
$359,671
$359.7K
Cap Rate 9%
$279,744
$279.7K
Market Conditions
NOI Build-Up for 2,870 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
$40.0K $13.92/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$36.0K $12.53/SF
− OpEx
−$10.8K −$3.76/SF
NOI
$25.2K $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%
$503,540
Cap Rate 7%
$359,671
Cap Rate 9%
$279,744
Alternative Uses
Best Use
Multifamily LT 5
$359.7K
$314.7K – $419.6K
NOI $25,177 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$312.4K
$273.4K – $364.5K
NOI $21,869 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$846.2K
$740.5K – $987.3K
NOI $59,237 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 32180, FL
3,834
Population
1,461
Households
2.6
Avg Household Size
44
Median Age
10%
College-Educated
70%
High-School Grad
90.3 sq mi
ZIP Area
42
Density / Sq Mi
$67,083
Median Household Income
$32,074
Median Earnings
$961
Median Rent
$224,100
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 - Frame construction with private entrances, porch space, public water, and septic service.
Where is this quadplex located?
The property is located at 161 W 2ND Avenue Pierson, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four rental units on a single property; 2,870 square feet on a 0.27‑acre parcel; Metal roof installed in 2023
