Duplex Near Daytona Beach
For Sale
Contact for pricing
524 Phoenix Ave, Daytona Beach, FL 32118
Two-story duplex with updated features and income potential.
Property Size2,154 SF
Lot Size0.12 Acres
Price / SF$232.13
Days on Market160
Property Features for 524 Phoenix Ave
General Information
Standard status
Active
Size
2,154 SF
Class
B
Lot size
0.12 Acres
Property subtype
Multifamily, Senior Living
Zoning
Medium Density Residential
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$32,900
Building Details
Year Built
1915
Year Renovated
2025
Buildings
1
Stories
2
Units
2
Listing Agency:
Executive Realty Network
Listed By:
Miro Lakic · License #BK 667214
Source:
Crexi
Added: Mar 23
Changed: Aug 23
Last Checked: Aug 29 at 3:53AM
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 Executive Realty Network
Investment Insights
Based on property information with market context.
This two-story duplex is located across the street from the ocean at 524 Phoenix Ave, Daytona Beach, FL 32118. The property features a total of 2,154 square feet of heated living space and sits on a lot with 67 feet of frontage and a depth of 80 feet. Each unit occupies one floor and includes a private entrance, kitchen, and laundry room. There are five parking spaces available, and the front yard is fenced. The roof is less than 5 years old, and the property has new PVC plumbing throughout. Windows are also less than 5 years old. The upstairs unit is currently rented for $1,600 per month, while the downstairs unit is rented for $2,600 per month. The property is fully rented and shown by appointment only.
Key Highlights
- Directly across the street from the ocean.
- Two‑unit duplex providing rental income ($1600 + $2600 per month).
- Each unit has a private entrance, kitchen, and laundry room.
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
$18,896
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
3.78%
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%
$377,920
$377.9K
Cap Rate 7%
$269,943
$269.9K
Cap Rate 9%
$209,956
$210.0K
Market Conditions
NOI Build-Up for 2,154 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
$30.0K $13.92/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$27.0K $12.53/SF
− OpEx
−$8.1K −$3.76/SF
NOI
$18.9K $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%
$377,920
Cap Rate 7%
$269,943
Cap Rate 9%
$209,956
Alternative Uses
Best Use
Multifamily LT 5
$269.9K
$236.2K – $314.9K
NOI $18,896 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$234.5K
$205.2K – $273.6K
NOI $16,414 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$635.1K
$555.7K – $741.0K
NOI $44,459 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
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?
Duplex - Two-story duplex with updated features and income potential.
Where is this duplex located?
The property is located at 524 Phoenix Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Directly across the street from the ocean.; Two‑unit duplex providing rental income ($1600 + $2600 per month).; Each unit has a private entrance, kitchen, and laundry room.
