Second-Floor Short-Term Rental
For Sale
$195,000
205-1653 N Us Highway 1, Ormond Beach, FL 32174
Lockout configuration combines two bedroom suites, a full kitchen, and in-unit laundry.
Property Size931 SF
Price / SF$209.45
Days on Market201
Property Features for 205-1653 N Us Highway 1
General Information
Standard status
Active
Size
931 SF
Taxes and HOA fees
Annual Taxes
$1,707
Listing Agency:
Landshark Realty
(321) 593-2261
Listed By:
Darlene Tindall · License #3413444
(321) 593-2261
Source:
Exprealty
Added: Feb 12
Changed: Aug 30
Last Checked: Aug 31 at 6:56PM
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 Landshark Realty
Investment Insights
Based on property information with market context.
This 931-square-foot, second-floor condominium at Destination Daytona offers a lockout configuration with two distinct bedroom suites: one with a king bed and another with two queen beds. The unit also includes a full kitchen, in-unit washer and dryer, living room, and pullout couch, creating a flexible layout for personal stays or short-term rental use.
The property is located at Teddy Morse Destination Daytona in Ormond Beach, next to the amphitheater. Owners have access to the main hotel pool and the amenities within the Destination Daytona complex. The condo is currently enrolled in the on-site management program, providing an established option for professionally managed rental operations.
The property is located at Teddy Morse Destination Daytona in Ormond Beach, next to the amphitheater. Owners have access to the main hotel pool and the amenities within the Destination Daytona complex. The condo is currently enrolled in the on-site management program, providing an established option for professionally managed rental operations.
Key Highlights
- 931‑square‑foot second‑floor condominium
- Lockout layout with one king bedroom suite and one double queen bedroom suite
- Full kitchen, in‑unit washer and dryer, and living room pullout couch
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
$7,094
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
3.64%
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%
$141,880
$141.9K
Cap Rate 7%
$101,343
$101.3K
Cap Rate 9%
$78,822
$78.8K
Market Conditions
NOI Build-Up for 931 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
$14.4K $15.48/SF
− Vacancy
−$1.5K −$1.63/SF
EGI
$12.9K $13.85/SF
− OpEx
−$5.8K −$6.23/SF
NOI
$7.1K $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%
$141,880
Cap Rate 7%
$101,343
Cap Rate 9%
$78,822
Alternative Uses
Best Use
Apartment 5plus
$101.3K
$88.7K – $118.2K
NOI $7,094 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.5K
$240.2K – $320.3K
NOI $19,216 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
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?
Short term rental property - Lockout configuration combines two bedroom suites, a full kitchen, and in-unit laundry.
Where is this short term rental property located?
The property is located at 205-1653 N Us Highway 1 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 931‑square‑foot second‑floor condominium; Lockout layout with one king bedroom suite and one double queen bedroom suite; Full kitchen, in‑unit washer and dryer, and living room pullout couch
