Furnished Two-Unit
For Sale
$654,900
244 Lexington Drive, Daytona Beach, FL 32114
Updated residences support an owner-occupancy strategy, rental income, or continued use as a two-unit investment property.
Property Size2,198 SF
Price / SF$297.95
Days on Market96
Property Features for 244 Lexington Drive
General Information
Standard status
Active
Size
2,198 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
indoor laundry
front patio
side deck
Building Details
Year Built
1941
Buildings
1
Listing Agency:
GRAND LIVING REALTY
Listed By:
Jennifer Swanson · License #256503265
(904) 238-9368
Source:
Beachstaterealty
Added: Jul 12
Changed: Oct 9
Last Checked: Oct 12 at 5:01PM
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 GRAND LIVING REALTY
Investment Insights
Based on property information with market context.
Built in 1941, this 2,198-square-foot duplex contains two separate residences, each with three bedrooms, one full bathroom, a complete kitchen, indoor laundry, and its own entrance. The units are furnished and updated, with a large front patio, private side deck, and four-car driveway providing outdoor space and off-street parking.
The upper residence is leased through March 2027, while the lower unit is vacant for a new occupant or owner use. The property has views toward the Halifax River and a nearby marina, with access to Halifax Harbor Marina, public boat ramps, City Island Park, the Riverfront Esplanade, downtown Daytona Beach, restaurants, waterfront activities, and the Atlantic Ocean. The Daytona Beach Boardwalk and Pier are approximately two miles away.
The upper residence is leased through March 2027, while the lower unit is vacant for a new occupant or owner use. The property has views toward the Halifax River and a nearby marina, with access to Halifax Harbor Marina, public boat ramps, City Island Park, the Riverfront Esplanade, downtown Daytona Beach, restaurants, waterfront activities, and the Atlantic Ocean. The Daytona Beach Boardwalk and Pier are approximately two miles away.
Key Highlights
- Two residences totaling 2,198 SF
- Each unit includes 3 bedrooms, 1 full bathroom, kitchen, indoor laundry, and a private entrance
- Upstairs unit leased through March 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,282
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,640
$385.6K
Cap Rate 7%
$275,457
$275.5K
Cap Rate 9%
$214,244
$214.2K
Market Conditions
NOI Build-Up for 2,198 SF
Gross rent
$30.6K $13.92/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$27.5K $12.53/SF
− OpEx
−$8.3K −$3.76/SF
NOI
$19.3K $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 Rate 5%
$385,640
Cap Rate 7%
$275,457
Cap Rate 9%
$214,244
Alternative Uses
Best Use
Multifamily LT 5
$275.5K
$241.0K – $321.4K
NOI $19,282 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$239.3K
$209.4K – $279.2K
NOI $16,749 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$648.1K
$567.1K – $756.1K
NOI $45,367 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,215
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
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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 - Updated residences support an owner-occupancy strategy, rental income, or continued use as a two-unit investment property.
Where is this duplex located?
The property is located at 244 Lexington Drive Daytona Beach, FL.
What is the asking price?
The asking price for this property is $654,900.
What are key features of this property?
This property features: Two residences totaling 2,198 SF; Each unit includes 3 bedrooms, 1 full bathroom, kitchen, indoor laundry, and a private entrance; Upstairs unit leased through March 2027
