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    Daytona Beach Multifamily Near Beach Title is generated by Realmo AI

    203 N Oleander Avenue, Daytona Beach, FL 32118

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    For Sale
    $389,999

    MULTI_FAMILY - Daytona Beach, FL

    Property size:
    1,540 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $253/SF
    Added:
    Dec 27, 2024
    Days on Market:
    520
    Last Refresh:
    May 31 at 12:06 am

    Property Features for 203 N Oleander Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3
    Parking features
    Driveway, On Street
    Fireplace
    1
    Appliances
    Refrigerator, Microwave, Electric Range, Dryer
    Standard status
    Active
    APN
    5305-12-17-0180
    Size
    1,540 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    LOT 18 EXC E 5 FT IN STREET RESUB BLK 17 MEMENTO MB 22 PG 12 PER OR 1749 PG 0432 PER OR 6171 PG 2801 PER OR 6171 PG 2802 PER OR 6185 PG 4903 PER OR 6655 PG 0522 PER OR 7284 PG 1599 PER OR 7482 PG 2227
    Tax Annual Amount
    5416

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Wall/Window Unit(s), Window Unit(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    2
    Building materials
    Composition Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Carlos Ring

    Listing agent Carlos Ring License #3201477

    Listing office Oceans Luxury Realty Full Service LLC 3162 S Atlantic Ave Ste B, Daytona Beach Shores, FL

    Listing date Dec 27, 2024

    MLS# 1207234 Listing URL

    Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Steps from the beach
    • Strong rental history and income potential from detached garage studio (1‑bedroom, 1‑bath)
    • Renovated within the past five years
    • Main residence features a comfortable 2‑bedroom, 1‑bath layout
    • Ample parking and spacious yard
    • Walking distance to Daytona Lagoon, Ocean Walk Shoppes, restaurants, and attractions

    Overview

    This well-maintained multifamily property presents an opportunity for ownership, boasting a strong rental history and proximity to the beach. The Craftsman-style home, renovated within the past five years, features a front residence with a 2-bedroom, 1-bath layout. A detached garage studio provides a private 1-bedroom, 1-bath unit suitable for rental income, guests, or extended living. A shared storage area includes a washer and dryer for both units. The property includes ample parking and a spacious yard. Its location provides walking distance to Daytona Lagoon, Ocean Walk Shoppes, and various restaurants and attractions. The property is located in Daytona Beach, Florida, with access to the area's nightlife and local culture along historic Beach Street. The lot size is 0.16 acres. The property size is 1540 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.013086
    Latitude
    29.229169

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    FAQs

    What type of property is this?
    Duplex - Well-maintained Craftsman-style multifamily property near the beach in Daytona Beach.
    Where is this duplex located?
    The property is located at 203 N Oleander Avenue Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $389,999.
    What are key features of this property?
    This property features: Steps from the beach; Strong rental history and income potential from detached garage studio (1‑bedroom, 1‑bath); Renovated within the past five years
    (386) 682-8800
    We can help!
    Listing Contact
    Carlos Ring
    Real Estate License ID: 3201477
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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