Updated Two-Unit
New
For Sale
$249,900
617 W HOWRY AVENUE, Deland, FL 32720
Two-bedroom units feature separate water meters and recent mechanical and interior improvements.
Property Size1,428 SF
Price / SF$175
Days on Market7
Property Features for 617 W HOWRY AVENUE
General Information
Standard status
Active
Size
1,428 SF
Property subtype
Duplex
Amenities
0.16 acres, Dimensions: 50x143
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 17-30-17-05-03-0370, Public Survey Range: 30E, Public Survey Section: 17, Annual Amount: $3,085.1, Tax Block: 3, Tax Book Number: 4-116, Legal Description: S 50 FT OF LOTS 36 TO 40 INC BLK 3 MILLERS ADD DELAND PER OR 4281 PG 1234 PER OR 7405 PG 2065, Lot: 36, Year: 2025, Zoning: 05R1A
Gross Income: $30,000
Mini-Split Unit(s), Wall/Window Unit(s), Attic Fan
Heat Pump
Laundry Room
Listing ID: MFRR4912033, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-18, 1 day on market, Special Conditions: None
4 total bedrooms
Built in 1953, Living area: 1428, Living area units: Square Feet, Construction Materials: Block
Subdivision: MILLERS ADD DELAND, MLS Area (Major): 32720 - Deland, County/Parish: Volusia
2 total bathrooms
Cable Available, Electricity Connected, Public, Sewer Connected, Water - Multiple Meters, Water Connected, Water Source: Public, 2 separate electric meters, 2 separate water meters
Slab
Close Of Escrow
Road Surface: Asphalt
Ceiling Fans(s)
Other equipment: None
Building Details
Year Built
1953
Listing Agency:
CROW ENTERPRISES LLC
(386) 747-1444
Listed By:
William Crow · License #3228511
Source:
Miharaandassociates
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 24 at 9:50AM
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 CROW ENTERPRISES LLC
Investment Insights
Based on property information with market context.
This duplex contains two two-bedroom units within a 1,428-square-foot property built in 1953. Recent work includes water heaters, mini-split AC systems, bedroom flooring, ceiling fans, and separate water meters installed a few years ago. The Howry unit also has fresh interior paint and a new tenant in place.
The property is located at 617 W Howry Avenue in DeLand, near Historic Downtown DeLand and Stetson University. Shopping, dining, and major commuter routes are also identified nearby, providing convenient access to area destinations.
The property is located at 617 W Howry Avenue in DeLand, near Historic Downtown DeLand and Stetson University. Shopping, dining, and major commuter routes are also identified nearby, providing convenient access to area destinations.
Key Highlights
- Two‑bedroom duplex units in a 1,428‑square‑foot property
- Built in 1953
- New water heaters and mini‑split AC systems
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
$12,527
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
5.01%
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%
$250,540
$250.5K
Cap Rate 7%
$178,957
$179.0K
Cap Rate 9%
$139,189
$139.2K
Market Conditions
NOI Build-Up for 1,428 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
$19.9K $13.92/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$17.9K $12.53/SF
− OpEx
−$5.4K −$3.76/SF
NOI
$12.5K $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%
$250,540
Cap Rate 7%
$178,957
Cap Rate 9%
$139,189
Alternative Uses
Best Use
Multifamily LT 5
$179.0K
$156.6K – $208.8K
NOI $12,527 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$155.4K
$136.0K – $181.4K
NOI $10,881 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$421.1K
$368.4K – $491.2K
NOI $29,474 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 32720, FL
33,568
Population
13,962
Households
2.4
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
66.3 sq mi
ZIP Area
506
Density / Sq Mi
$67,512
Median Household Income
$39,159
Median Earnings
$1,177
Median Rent
$280,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Two-bedroom units feature separate water meters and recent mechanical and interior improvements.
Where is this duplex located?
The property is located at 617 W HOWRY AVENUE Deland, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑bedroom duplex units in a 1,428‑square‑foot property; Built in 1953; New water heaters and mini‑split AC systems
