Two-Unit Concrete Block
New
For Sale
$295,000
304 S ADELLE AVENUE, Deland, FL 32720
Two renovated three-bedroom units occupy a solid concrete block building with separate electric meters.
Property Size1,664 SF
Price / SF$177.28
Days on Market6
Property Features for 304 S ADELLE AVENUE
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
still may need some further updating
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
0.21 acres, Dimensions: 60x65, Flag Lot
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 70-17-16-00-02-6000, Public Survey Range: 30E, Public Survey Section: 17, Annual Amount: $2,870.09, Tax Block: 161, Tax Book Number: MB2-79, Legal Description: S 55 FT OF LOT 25 & LOT 26 EXC E 10 FT OF N 80 FT HARRIS SUB E 1/2 BLK 161 DELAND EXC 100 PC SUBSURFACE RTS PER OR 4671 PGS 1197-1198 PER D/C 6048 PG 3866 OR 6241 PG 1281 PER OR 6817 PG 4489 & OR 6872 PG 1097 PER OR 7233 PG 4331 PER OR 7564 PG 912, Lot: 25, Year: 2025, Zoning: R-2
Ceramic Tile
Gross Income: $31,800
Wall/Window Unit(s)
Electric, Ductless
Electric Dryer Hookup, Washer Hookup
Listing ID: MFRFC321648, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-29, Special Conditions: None
Driveway, Off Street
6 total bedrooms
Built in 1945, Living area: 1664, Living area units: Square Feet, Levels: Two, Construction Materials: Block
Subdivision: HARRIS, MLS Area (Major): 32720 - Deland, County/Parish: Volusia
Completed
2 total bathrooms
Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public, 2 separate electric meters
Slab
Electricity
Road Responsibility: Public Maintained Road, Road Surface: Paved
Storage
Living Room/Dining Room Combo
Range, Refrigerator
Building Details
Year Built
1945
Buildings
1
Construction
concrete block
Listing Agency:
COLDWELL BANKER (HAMMOCK)
(386) 246-2380
Listed By:
Tina Turner · License #3058114
(386) 383-3690
Source:
Miharaandassociates
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 2 at 11:58PM
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 COLDWELL BANKER (HAMMOCK)
Investment Insights
Based on property information with market context.
This 1,664-square-foot duplex contains two 3-bedroom, 1-bathroom units in a solid concrete block structure. Both units have been renovated, one in 2021 and the other in 2023. The roof dates to 2017, and electrical work was completed in 2013 and 2024; some additional electrical updates may still be needed. The property also has two electric meters and an extra-large L-shaped lot, where additional building or parking options would require City confirmation.
The property is in DeLand, with access to I-4. Places of worship are within walking distance, while restaurants, stores, entertainment, and a government building are a short drive away. The beach is approximately 25 minutes away, and Orlando is approximately 40 minutes away.
The property is in DeLand, with access to I-4. Places of worship are within walking distance, while restaurants, stores, entertainment, and a government building are a short drive away. The beach is approximately 25 minutes away, and Orlando is approximately 40 minutes away.
Key Highlights
- Two 3‑bedroom, 1‑bathroom units in a 1,664‑square‑foot duplex
- Both units renovated: one in 2021 and the other in 2023
- Solid concrete block construction; roof dates to 2017
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
$14,597
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
4.95%
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%
$291,940
$291.9K
Cap Rate 7%
$208,529
$208.5K
Cap Rate 9%
$162,189
$162.2K
Market Conditions
NOI Build-Up for 1,664 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 $13.92/SF
− Vacancy
−$2.3K −$1.39/SF
EGI
$20.9K $12.53/SF
− OpEx
−$6.3K −$3.76/SF
NOI
$14.6K $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%
$291,940
Cap Rate 7%
$208,529
Cap Rate 9%
$162,189
Alternative Uses
Best Use
Multifamily LT 5
$208.5K
$182.5K – $243.3K
NOI $14,597 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$181.1K
$158.5K – $211.3K
NOI $12,680 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$490.6K
$429.3K – $572.4K
NOI $34,345 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 32720, FL
33,568
Population
13,962
Households
2.4
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
66.3 sq mi
ZIP Area
506
Density / Sq Mi
$67,512
Median Household Income
$39,159
Median Earnings
$1,177
Median Rent
$280,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated three-bedroom units occupy a solid concrete block building with separate electric meters.
Where is this duplex located?
The property is located at 304 S ADELLE AVENUE Deland, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bathroom units in a 1,664‑square‑foot duplex; Both units renovated: one in 2021 and the other in 2023; Solid concrete block construction; roof dates to 2017
