Duplex with Two
For Sale
$299,900
224 KINGSTON Avenue, Daytona Beach, FL 32114
Residential, DAYTONA BEACH, FL
Property Size1,400 SF
Lot Size0.11 Acres
Price / SF$214.21
Days on Market14
Property Features for 224 KINGSTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Living Room, Bedroom 3, Bathroom 1, Laundry Room, Bathroom 2, Bedroom 2, Bedroom 1
Interior features
Ceiling Fans(s)
Exterior features
Balcony
Appliances
Refrigerator
Subdivision
HIGHLAND PARK KINGSTON
Directions
From ISB/US 92, North on US 1, next street after Madison turn right on Kingston, duplex is second property on the Left.
Standard status
Active
APN
5338-09-06-0140
Size
1,400 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
38-15-33 LOT 14 BLK F HIGHLAND PARK MB 5 PG 25 MB 16 PG 148 PER OR 5051 PG 4302 PER OR 5462 PG 0868 PER OR 8214 PG 4636
Tax Annual Amount
3081
Legal Description
38-15-33 LOT 14 BLK F HIGHLAND PARK MB 5 PG 25 MB 16 PG 148 PER OR 5051 PG 4302 PER OR 5462 PG 0868 PER OR 8214 PG 4636
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
partially fenced shared yard
Building Details
Year built
1939
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Tony Tate, PLLC · License #3476607
(352) 820-6146
Added: Sep 10
Changed: Sep 19
Last Checked: Sep 23 at 3:06AM
MLS# O6437075
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.
Built in 1939, this 1,400-square-foot duplex contains two separate residences on a 0.11-acre parcel. Both units benefit from enclosed porch areas that add interior living space. The first-floor residence includes tile flooring, newer windows, an updated bathroom, ceiling fans, window-unit cooling, recessed lighting, indoor laundry, and a primary bedroom with double closets. The upper residence features portions of original hardwood flooring, built-in hallway shelving, a concealed bookcase entry, and a flexible bonus room. A separate storage area is plumbed for a washer, while the shared yard is large and partially fenced. The first-floor unit is currently occupied by a tenant who would like to remain if possible.
The property is located in Daytona Beach, approximately five minutes from the Beachside Seabreeze Historic District and the restaurants, shops, and entertainment near Downtown Beach Street. Daytona International Speedway and Tanger Outlets are approximately 15 minutes away. Public water and public sewer serve the property, which has block construction and a shingle roof.
The property is located in Daytona Beach, approximately five minutes from the Beachside Seabreeze Historic District and the restaurants, shops, and entertainment near Downtown Beach Street. Daytona International Speedway and Tanger Outlets are approximately 15 minutes away. Public water and public sewer serve the property, which has block construction and a shingle roof.
Key Highlights
- Two separate residences within a 1,400‑square‑foot duplex
- R4 zoning on a 0.11‑acre parcel
- Built in 1939 with block construction and a shingle roof
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
$12,282
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
4.10%
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%
$245,640
$245.6K
Cap Rate 7%
$175,457
$175.5K
Cap Rate 9%
$136,467
$136.5K
Market Conditions
NOI Build-Up for 1,400 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
$19.5K $13.92/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$17.5K $12.53/SF
− OpEx
−$5.3K −$3.76/SF
NOI
$12.3K $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%
$245,640
Cap Rate 7%
$175,457
Cap Rate 9%
$136,467
Alternative Uses
Best Use
Multifamily LT 5
$175.5K
$153.5K – $204.7K
NOI $12,282 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$152.4K
$133.4K – $177.8K
NOI $10,668 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$412.8K
$361.2K – $481.6K
NOI $28,896 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
Check the figures for this property
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 - R4-zoned duplex with separate residences, shared outdoor space, and flexible living or rental arrangements.
Where is this duplex located?
The property is located at 224 KINGSTON Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two separate residences within a 1,400‑square‑foot duplex; R4 zoning on a 0.11‑acre parcel; Built in 1939 with block construction and a shingle roof
