Duplex with Two
New
For Sale
$359,000
1618 MAGNOLIA AVENUE, Deland, FL 32724
One residence is vacant, while the other has a tenant through October 1, 2026.
Property Size2,016 SF
Price / SF$178.08
Days on Market6
Property Features for 1618 MAGNOLIA AVENUE
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Duplex
Building Details
Year Built
1960
Listing Agency:
STAR BAY REALTY CORP.
(813) 533-6467
Listed By:
Jaymin Patel · License #3653112
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 3 at 12:49AM
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 STAR BAY REALTY CORP.
Investment Insights
Based on property information with market context.
Built in 1960, this DeLand duplex includes both residences, two carports, a fenced yard, and a utility shed. The septic system was installed in 2021; the roof dates to 2016. Appliances were updated in 2020 and 2022, and a water softener was added in 2022.
One unit is tenant-occupied through October 1, 2026, and the other is vacant. The property offers access to Downtown DeLand’s Historic Garden District, Stetson University, AdventHealth DeLand, De Leon Springs State Park, DeLand Municipal Airport, US 92, I-4, Embry-Riddle Aeronautical University, Daytona Beach, and New Smyrna Beach.
One unit is tenant-occupied through October 1, 2026, and the other is vacant. The property offers access to Downtown DeLand’s Historic Garden District, Stetson University, AdventHealth DeLand, De Leon Springs State Park, DeLand Municipal Airport, US 92, I-4, Embry-Riddle Aeronautical University, Daytona Beach, and New Smyrna Beach.
Key Highlights
- Duplex includes both units
- One unit is vacant; the other is leased through October 1, 2026
- Septic system installed in 2021
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
$17,685
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
4.93%
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%
$353,700
$353.7K
Cap Rate 7%
$252,643
$252.6K
Cap Rate 9%
$196,500
$196.5K
Market Conditions
NOI Build-Up for 2,016 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
$28.1K $13.92/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$25.3K $12.53/SF
− OpEx
−$7.6K −$3.76/SF
NOI
$17.7K $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%
$353,700
Cap Rate 7%
$252,643
Cap Rate 9%
$196,500
Alternative Uses
Best Use
Multifamily LT 5
$252.6K
$221.1K – $294.8K
NOI $17,685 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$219.5K
$192.0K – $256.0K
NOI $15,362 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$594.4K
$520.1K – $693.5K
NOI $41,610 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 32724, FL
40,559
Population
18,555
Households
2.2
Avg Household Size
45
Median Age
31%
College-Educated
92%
High-School Grad
83.8 sq mi
ZIP Area
484
Density / Sq Mi
$72,729
Median Household Income
$41,204
Median Earnings
$1,184
Median Rent
$283,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the other has a tenant through October 1, 2026.
Where is this duplex located?
The property is located at 1618 MAGNOLIA AVENUE Deland, FL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Duplex includes both units; One unit is vacant; the other is leased through October 1, 2026; Septic system installed in 2021
