New-Construction Half
For Sale
$315,000
2003 GUAVA DRIVE #1, Edgewater, FL 32141
Three-bedroom residence with contemporary finishes, outdoor space, driveway, and garage functionality.
Property Size1,500 SF
Price / SF$210
Days on Market9
Property Features for 2003 GUAVA DRIVE #1
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Half Duplex
Additional Details
Multifamily Units
1
Amenities
granite countertops
stainless steel appliances
backyard
garage
Building Details
Year Built
2024
Listing Agency:
COUNTRYWIDE REALTY PARTNERS, LLC
(407) 401-3739
Listed By:
Robert Vazquez · License #3299231
(877) 366-2213
Source:
Dennisrealty
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 24 at 9:55AM
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 COUNTRYWIDE REALTY PARTNERS, LLC
Investment Insights
Based on property information with market context.
This 1,500-square-foot half duplex was built in 2024 and offers a three-bedroom, two-bathroom layout. The interior combines an open living arrangement with a contemporary kitchen featuring granite countertops and stainless steel appliances. Natural light extends through the living areas, while the backyard provides additional outdoor space. A driveway and garage add practical parking and storage utility.
Located at 2003 Guava Drive in Edgewater, the property is near New Smyrna Beach, local shops, restaurants, and the beach. Its residential income property classification and duplex configuration support use as a rental property or personal retreat.
Located at 2003 Guava Drive in Edgewater, the property is near New Smyrna Beach, local shops, restaurants, and the beach. Its residential income property classification and duplex configuration support use as a rental property or personal retreat.
Key Highlights
- 1,500‑square‑foot half duplex built in 2024
- Three bedrooms and two bathrooms
- Open‑concept interior with granite countertops and stainless steel appliances
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
$11,430
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
3.63%
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%
$228,600
$228.6K
Cap Rate 7%
$163,286
$163.3K
Cap Rate 9%
$127,000
$127.0K
Market Conditions
NOI Build-Up for 1,500 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
$23.2K $15.48/SF
− Vacancy
−$2.4K −$1.63/SF
EGI
$20.8K $13.85/SF
− OpEx
−$9.4K −$6.23/SF
NOI
$11.4K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
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%
$228,600
Cap Rate 7%
$163,286
Cap Rate 9%
$127,000
Alternative Uses
Best Use
Apartment 5plus
$163.3K
$142.9K – $190.5K
NOI $11,430 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.3K
$387.0K – $516.0K
NOI $30,960 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 32141, FL
17,955
Population
9,400
Households
1.9
Avg Household Size
54
Median Age
23%
College-Educated
93%
High-School Grad
23.6 sq mi
ZIP Area
761
Density / Sq Mi
$61,110
Median Household Income
$37,874
Median Earnings
$1,481
Median Rent
$244,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom residence with contemporary finishes, outdoor space, driveway, and garage functionality.
Where is this residential income property located?
The property is located at 2003 GUAVA DRIVE #1 Edgewater, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,500‑square‑foot half duplex built in 2024; Three bedrooms and two bathrooms; Open‑concept interior with granite countertops and stainless steel appliances
