Turnkey Daytona Multi-Unit
For Sale
$650,000
434 VERMONT Ave, Daytona Beach, FL 32118
Modernized three-unit property with upgrades, ideal for investors or owner-occupants.
Property Size4,312 SF
Days on Market112
Property Features for 434 VERMONT Ave
General Information
Standard status
Active
Size
4,312 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,666
Building Details
Building Size
4,312 SF
Year Built
1953
Units
3
Listing Agency:
KELLER WILLIAMS REALTY SMART 1
(863) 242-9847
Listed By:
Anthony Medina · License #3307946
(863) 242-9847
Source:
Elliman
Added: Apr 24
Changed: Aug 7
Last Checked: Aug 12 at 8:31AM
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 KELLER WILLIAMS REALTY SMART 1
Investment Insights
Based on property information with market context.
This three-unit property features two updated duplex units and a fully finished garage apartment. The property has undergone upgrades between 2023 and 2025, including major systems, structural elements, and interior finishes. Each unit has private entrances and modern mechanical systems. Unit 436 and Unit 438 each contain 2 bedrooms and 1 bathroom, while Unit 434 (the garage apartment) has 1 bedroom and 1 bathroom. All units are on separate metered utilities. The property is suitable for long-term tenants, short-term rentals, or multi-generational living. Upgrades include new vinyl impact windows in Units 436 & 438 (2025), auxiliary power unit plugs tied into the main electrical panel, AC with heat pump (2020), new ductwork in Units 436 & 438, a new mini-split system in Unit 434, tankless water heaters in all units, replaced cast iron pipes in Units 436 & 438, a new sewer line to the street with clean-outs, and combo washer/dryer units in Units 436 & 438. All units have keyless code entry locks. Units 436 & 438 feature fully remodeled kitchens with new gas stoves, garbage disposals, and refrigerators, plus a new dishwasher in Unit 436. Unit 434 has a new refrigerator and a previously installed dishwasher. Exterior and structural improvements include rebuilt decks (2023), new soffit and fascia, all-new vinyl privacy fencing with 5 access gates, and a garage converted to a fully finished apartment (Unit 434). The property is located minutes from Daytona beaches, colleges, shopping, and major highways.
Key Highlights
- Turnkey property with extensive renovations (2023‑2025), ensuring low maintenance and long‑term value.
- Three income‑producing units offer diverse rental income streams or multi‑generational living options.
- Fully remodeled and upgraded interiors featuring modern kitchens and appliances in Units 436 & 438.
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
$37,827
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
5.82%
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%
$756,540
$756.5K
Cap Rate 7%
$540,386
$540.4K
Cap Rate 9%
$420,300
$420.3K
Market Conditions
NOI Build-Up for 4,312 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
$60.0K $13.92/SF
− Vacancy
−$6.0K −$1.39/SF
EGI
$54.0K $12.53/SF
− OpEx
−$16.2K −$3.76/SF
NOI
$37.8K $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%
$756,540
Cap Rate 7%
$540,386
Cap Rate 9%
$420,300
Alternative Uses
Best Use
Multifamily LT 5
$540.4K
$472.8K – $630.5K
NOI $37,827 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$469.4K
$410.7K – $547.6K
NOI $32,858 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,000 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Modernized three-unit property with upgrades, ideal for investors or owner-occupants.
Where is this triplex located?
The property is located at 434 VERMONT Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Turnkey property with extensive renovations (2023‑2025), ensuring low maintenance and long‑term value.; Three income‑producing units offer diverse rental income streams or multi‑generational living options.; Fully remodeled and upgraded interiors featuring modern kitchens and appliances in Units 436 & 438.
