Duplex with Fenced
New
For Sale
$359,000
1618 MAGNOLIA Avenue, Deland, FL 32724
Residential Income, DELAND, FL
Property Size2,016 SF
Lot Size0.38 Acres
Price / SF$178.08
Days on Market6
Property Features for 1618 MAGNOLIA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
01R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
Interior features
Ceiling Fans(s), Thermostat
Exterior features
Fence, Fire Pit
Fencing
Fenced
Subdivision
DELAND HIGHLANDS ADD 07
Directions
West 92 from I-95, North on N. Kepler, West on Magnolia
Standard status
Active
APN
6035-10-00-0020
Size
2,016 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 2 DELAND HIGHLANDS 7TH ADD MB 23 PG 224 PER OR 4042 PG 3503 PER OR 6320 PG 0600 PER OR 6321 PG 0688 PER OR 6387 PG 3826 PER OR 7327 PG 2000 PER OR 8277 PG 1129 PER OR 8528 PG 4989 PER OR 8682 PG 1196
Tax Annual Amount
5381
Legal Description
LOT 2 DELAND HIGHLANDS 7TH ADD MB 23 PG 224 PER OR 4042 PG 3503 PER OR 6320 PG 0600 PER OR 6321 PG 0688 PER OR 6387 PG 3826 PER OR 7327 PG 2000 PER OR 8277 PG 1129 PER OR 8528 PG 4989 PER OR 8682 PG 1196
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Well
Amenities
water softener
large utility shed
spacious fenced yard
Building Details
Year built
1960
Building materials
Block, Frame, Wood Siding
Roof type
Metal
Listing Agency:
STAR BAY REALTY CORP.
(813) 533-6467
Listed By:
Jaymin Patel · License #3653112
(352) 978-7207
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 3 at 11:06AM
MLS# O6444906
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 two-unit residential property contains 2,016 square feet on a 0.38-acre parcel. Built in 1960, it has a metal roof and a septic system installed in 2021. The roof dates to 2016; appliances were updated in 2020 and 2022, and a water softener was added in 2022. Exterior features include two carports, a utility shed, a fenced yard, and a fire pit. The property uses well water and has central air and heat-pump heating.
One unit is vacant and the other is tenant-occupied through October 1, 2026. The property is in DeLand, with 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. Zoning is 01R4.
One unit is vacant and the other is tenant-occupied through October 1, 2026. The property is in DeLand, with 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. Zoning is 01R4.
Key Highlights
- Two‑unit property with 2,016 square feet on 0.38 acres
- One unit is vacant; the occupied unit has a lease through October 1, 2026
- Septic system installed in 2021; metal roof dates to 2016
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
Lease Details
2
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - One unit is vacant, while the other is occupied 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: Two‑unit property with 2,016 square feet on 0.38 acres; One unit is vacant; the occupied unit has a lease through October 1, 2026; Septic system installed in 2021; metal roof dates to 2016
