Updated Half-Duplex Income
For Sale
$239,000
Pending
3744 GATEWOOD DRIVE, Port Orange, FL 32129
Two-bedroom residence with storm-rated improvements, enclosed porch areas, garage, and fenced outdoor space.
Property Size1,146 SF
Days on Market29
Property Features for 3744 GATEWOOD DRIVE
General Information
Standard status
Pending
Size
1,146 SF
Total Parking Spaces
1
Property subtype
Half Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
fully fenced backyard
hurricane impact windows
storm shutters
storm doors
hurricane rated sliding glass doors
reinforced garage door
updated kitchen
custom built in bar
Murphy bed
rear porch
0.11 acres, Dimensions: 49x100
Shingle
Chain Link, Vinyl
Public Sewer
Additional parcels description:, Parcel Number: 6308-13-00-0281, Public Survey Range: 33E, Public Survey Section: 08, Annual Amount: $3,301.68, Tax Block: 2, Tax Book Number: 40-135, Legal Description: N 1/2 OF LOT 28 EXC S 1.11 FT GATEWOOD SUB UNIT II MB 40 PG 135 PER OR 4424 PG 2642 PER OR 7779 PG 0658 PER OR 8226 PG 0160 PER OR 8387 PGS 1470 THRU 1472 INC PER OR 8396 PG 3537 PER OR 8428 PG 0686 PER OR 8482 PG 3287, Lot: 28, Year: 2025, Zoning: 16R2D
Ceramic Tile, Laminate
1 space
Central Air
Central
In Garage
Listing ID: MFRO6430521, Standard Status: Pending, MLS Status: Pending, Property Subtype: Half Duplex, On market as of 2026-08-03, Off market as of 2026-08-10, 7 days on market, Special Conditions: None
Driveway, Garage Door Opener
Blinds, Storm Window(s)
2 total bedrooms
Built in 1986, Living area: 1146, Living area units: Square Feet, Building faces East, 1 storey, Levels: One, Construction Materials: Vinyl Siding
Subdivision: GATEWOOD UN H, MLS Area (Major): 32129 - Port Orange, County/Parish: Volusia
Completed
2 total bathrooms, 2 full bathrooms
Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
Slab
Close Of Escrow
Allowed: Yes
Road Responsibility: Public Maintained Road, Road Surface: Paved
Patio/Porch Features: Rear Porch, Screened, Lighting, Private Yard, Sidewalk, Sliding Doors
Built-in Features, Ceiling Fans(s), Dry Bar, Eat-in Kitchen, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Solid Wood Cabinets, Split Bedroom
Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer, Other equipment: Private Yard
Building Details
Year Built
1986
Listing Agency:
COLLADO REAL ESTATE
(386) 427-0002
Listed By:
Jan Can McDermott · License #3366849
Source:
Miharaandassociates
Added: Aug 3
Changed: Aug 31
Last Checked: Aug 30 at 5:54PM
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 COLLADO REAL ESTATE
Investment Insights
Based on property information with market context.
This 1,146-square-foot half duplex includes two bedrooms, two baths, and a one-car garage. Interior improvements include an updated kitchen with modern appliances, a dining area with a built-in bar, and a flexible second bedroom furnished with a Murphy bed and desk. Hurricane impact windows, storm shutters, storm doors, hurricane-rated sliding glass doors, and a reinforced garage door add storm protection.
The rear porch extends across the full length of the home and incorporates three distinct areas. Two sections are enclosed with vinyl sliding windows and screens, while the remaining section is an open patio. A fully fenced backyard provides additional outdoor space. The roof was replaced in 2022, and the air conditioner is approximately 11 years old. The property is in the Gatewood Community of Port Orange, near shopping, dining, parks, medical facilities, schools, and the beach.
The rear porch extends across the full length of the home and incorporates three distinct areas. Two sections are enclosed with vinyl sliding windows and screens, while the remaining section is an open patio. A fully fenced backyard provides additional outdoor space. The roof was replaced in 2022, and the air conditioner is approximately 11 years old. The property is in the Gatewood Community of Port Orange, near shopping, dining, parks, medical facilities, schools, and the beach.
Key Highlights
- 1,146‑square‑foot half duplex with 2 bedrooms and 2 baths
- One‑car garage and fully fenced backyard
- Hurricane impact windows, storm shutters, storm doors, and reinforced garage door
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
$8,733
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
3.65%
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%
$174,660
$174.7K
Cap Rate 7%
$124,757
$124.8K
Cap Rate 9%
$97,033
$97.0K
Market Conditions
NOI Build-Up for 1,146 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
$17.7K $15.48/SF
− Vacancy
−$1.9K −$1.63/SF
EGI
$15.9K $13.85/SF
− OpEx
−$7.1K −$6.23/SF
NOI
$8.7K $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%
$174,660
Cap Rate 7%
$124,757
Cap Rate 9%
$97,033
Alternative Uses
Best Use
Apartment 5plus
$124.8K
$109.2K – $145.6K
NOI $8,733 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$337.9K
$295.7K – $394.2K
NOI $23,653 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 32129, FL
21,594
Population
11,991
Households
1.8
Avg Household Size
50
Median Age
25%
College-Educated
93%
High-School Grad
7.5 sq mi
ZIP Area
2,879
Density / Sq Mi
$65,936
Median Household Income
$39,226
Median Earnings
$1,538
Median Rent
$241,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with storm-rated improvements, enclosed porch areas, garage, and fenced outdoor space.
Where is this residential income property located?
The property is located at 3744 GATEWOOD DRIVE Port Orange, FL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 1,146‑square‑foot half duplex with 2 bedrooms and 2 baths; One‑car garage and fully fenced backyard; Hurricane impact windows, storm shutters, storm doors, and reinforced garage door
