Updated 4-Unit
New
For Sale
$830,000
424 DAYTONA, Daytona Beach, FL 32114
All units are leased, with appliances, air-conditioning systems, flooring, and lighting updated approximately two years ago.
Property Size2,880 SF
Days on Market4
Property Features for 424 DAYTONA
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,547
Building Details
Building Size
2,880 SF
Year Built
1973
Buildings
1
Listing Agency:
OCEANS LUXURY REALTY FULL SVC
(386) 316-7808
Listed By:
Cheryl Gray · License #3434739
(386) 316-7808
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 18 at 6:54AM
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 OCEANS LUXURY REALTY FULL SVC
Investment Insights
Based on property information with market context.
Located at 424 Daytona in Daytona Beach, this four-unit multifamily property was built in 1973 and is currently fully leased. The units provide an established occupancy profile, while recent property improvements include updated appliances, air-conditioning systems, flooring, and lighting completed approximately two years ago. The roof is about three years old.
The property sits near Beach Street, with restaurants, bars, shopping, baseball games, Brown & Brown Insurance, transportation, Downtown Daytona Beach, and major employment centers identified in the surrounding area. The beach is also described as minutes away. Nearby luxury apartment development and continued area investment are noted in the property information. FHA and VA financing may support an owner-occupied multifamily approach, subject to lender and program requirements.
The property sits near Beach Street, with restaurants, bars, shopping, baseball games, Brown & Brown Insurance, transportation, Downtown Daytona Beach, and major employment centers identified in the surrounding area. The beach is also described as minutes away. Nearby luxury apartment development and continued area investment are noted in the property information. FHA and VA financing may support an owner-occupied multifamily approach, subject to lender and program requirements.
Key Highlights
- Fully leased four‑unit multifamily property
- Appliances, A/Cs, flooring, and lighting updated approximately two years ago
- Roof is about three years old
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
$25,265
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
3.04%
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%
$505,300
$505.3K
Cap Rate 7%
$360,929
$360.9K
Cap Rate 9%
$280,722
$280.7K
Market Conditions
NOI Build-Up for 2,880 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
$40.1K $13.92/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$36.1K $12.53/SF
− OpEx
−$10.8K −$3.76/SF
NOI
$25.3K $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%
$505,300
Cap Rate 7%
$360,929
Cap Rate 9%
$280,722
Alternative Uses
Best Use
Multifamily LT 5
$360.9K
$315.8K – $421.1K
NOI $25,265 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$313.5K
$274.3K – $365.8K
NOI $21,946 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$849.2K
$743.0K – $990.7K
NOI $59,443 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,363
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
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?
Quadplex - All units are leased, with appliances, air-conditioning systems, flooring, and lighting updated approximately two years ago.
Where is this quadplex located?
The property is located at 424 DAYTONA Daytona Beach, FL.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Fully leased four‑unit multifamily property; Appliances, A/Cs, flooring, and lighting updated approximately two years ago; Roof is about three years old
