Quadplex with Rebuild
For Sale
$109,900
44 Springwood Square, Port Orange, FL 32129
MULTI_FAMILY - Port Orange, FL
Property Size1,242 SF
Lot Size0.06 Acres
Price / SF$88.49
Days on Market292
Property Features for 44 Springwood Square
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Residential
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Half bathrooms
4
Rooms
Bathroom 1, Bathroom 7, Bathroom 8, Bedroom 8, Bathroom 4, Bedroom 7, Bathroom 5, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 6, Bedroom 6, Bathroom 2
Subdivision
Springwood Square
Directions
From Nova Road, head E on Herbert Street, Turn L on Jackson Street, Turn L on Springwood Square.
Standard status
Active
APN
6337-15-00-0440
Size
1,242 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 44 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 PG 0495 LOT 43 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 LOT 42 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 PG 481 PER LOT 41 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 PG
Tax Annual Amount
1983
Legal Description
LOT 44 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 PG 0495 LOT 43 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 LOT 42 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 PG 481 PER LOT 41 SPRINGWOOD SQUARE MB 36 PG 178 PER OR 2356 PG
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1981
Floors in Building
2
Number of units
4
Building materials
Concrete, Stucco
Listing Agency:
Evans Realty
(386) 334-7000
Listed By:
Carrie Register LLC
(386) 547-8733
Added: Oct 30, 2025
Changed: Aug 11
Last Checked: Aug 17 at 12:06PM
MLS# 1219526
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale quadplex package includes four contiguous townhome parcels at 41, 42, 43, and 44 Springwood Square. The properties require a complete teardown and rebuild, and each unit must be brought up to code and elevated above the flood plain. Originally built in 1981, each two-story unit is described as having 2 bedrooms and 1.5 bathrooms with approximately 1,242 square feet of interior space, along with private patios and decks.
The package is located in Port Orange, Florida (Volusia County). The listing remarks describe the offering as land value and note that the property will not be financeable, with cash offers only.
Each unit will need full renovation as part of the required rebuild, offering a turnkey rebuild scope for a buyer or builder prepared to take the properties through permitting, code compliance, and reconstruction.
The package is located in Port Orange, Florida (Volusia County). The listing remarks describe the offering as land value and note that the property will not be financeable, with cash offers only.
Each unit will need full renovation as part of the required rebuild, offering a turnkey rebuild scope for a buyer or builder prepared to take the properties through permitting, code compliance, and reconstruction.
Key Highlights
- Four contiguous townhome parcels at 41, 42, 43, and 44 Springwood Square
- Each two‑story unit is approximately 1,242 SF for a total of about 4,968 SF across 4 units
- Originally built in 1981; construction materials include concrete and stucco
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
$9,464
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
8.61%
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%
$189,280
$189.3K
Cap Rate 7%
$135,200
$135.2K
Cap Rate 9%
$105,156
$105.2K
Market Conditions
NOI Build-Up for 1,242 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
$19.2K $15.48/SF
− Vacancy
−$2.0K −$1.63/SF
EGI
$17.2K $13.85/SF
− OpEx
−$7.7K −$6.23/SF
NOI
$9.5K $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%
$189,280
Cap Rate 7%
$135,200
Cap Rate 9%
$105,156
Alternative Uses
Best Use
Multifamily LT 5
$155.6K
$136.2K – $181.6K
NOI $10,895 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$135.2K
$118.3K – $157.7K
NOI $9,464 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$366.2K
$320.4K – $427.3K
NOI $25,635 @ 7.0% cap · market cap 23.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
412
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Package of four contiguous townhome parcels requiring a complete teardown, rebuild, and elevation above the flood plain.
Where is this quadplex located?
The property is located at 44 Springwood Square Port Orange, FL.
What is the asking price?
The asking price for this property is $109,900.
What are key features of this property?
This property features: Four contiguous townhome parcels at 41, 42, 43, and 44 Springwood Square; Each two‑story unit is approximately 1,242 SF for a total of about 4,968 SF across 4 units; Originally built in 1981; construction materials include concrete and stucco
