2-Bedroom Residential Income
For Sale
$169,900
920 BOULDER DRIVE, South Daytona, FL 32119
Concrete block half-duplex with roof and bathroom updates, open living space, and residential zoning.
Property Size920 SF
Price / SF$184.67
Days on Market28
Property Features for 920 BOULDER DRIVE
General Information
Standard status
Active
Size
920 SF
Property subtype
Half Duplex
Property Condition
Severity
Repairs Needed
Evidence
with some TLC
Additional Details
Multifamily Units
1
Building Details
Year Built
1981
Construction
concrete block
Listing Agency:
THE KEYES COMPANY
(386) 428-5723
Listed By:
Travous Dever · License #3088591
(386) 690-1636
Source:
Endlesssummerrealty
Added: Aug 12
Changed: Sep 7
Last Checked: Sep 8 at 4:46AM
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 THE KEYES COMPANY
Investment Insights
Based on property information with market context.
This 2-bedroom, 1-bath half-duplex is a concrete block residence built in 1981. The home includes an open floor plan along with updates to the roof and bathroom, while additional work remains for a buyer planning further improvements. Residential zoning supports the property’s existing residential use.
The home is in South Daytona, just off Nova and Beville Roads. Schools, shopping, and dining are nearby, with the Halifax River and Daytona Beach shores located just blocks away. The property’s configuration may suit an owner-occupant or residential income strategy, as reflected by its half-duplex design.
The home is in South Daytona, just off Nova and Beville Roads. Schools, shopping, and dining are nearby, with the Halifax River and Daytona Beach shores located just blocks away. The property’s configuration may suit an owner-occupant or residential income strategy, as reflected by its half-duplex design.
Key Highlights
- 2‑bedroom, 1‑bath concrete block half‑duplex
- Built in 1981
- Roof and bathroom updates completed
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
$7,010
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
4.13%
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%
$140,200
$140.2K
Cap Rate 7%
$100,143
$100.1K
Cap Rate 9%
$77,889
$77.9K
Market Conditions
NOI Build-Up for 920 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
$14.2K $15.48/SF
− Vacancy
−$1.5K −$1.63/SF
EGI
$12.7K $13.85/SF
− OpEx
−$5.7K −$6.23/SF
NOI
$7.0K $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%
$140,200
Cap Rate 7%
$100,143
Cap Rate 9%
$77,889
Alternative Uses
Best Use
Apartment 5plus
$100.1K
$87.6K – $116.8K
NOI $7,010 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.3K
$237.4K – $316.5K
NOI $18,989 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 32119, FL
22,498
Population
12,629
Households
1.8
Avg Household Size
50
Median Age
27%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,884
Density / Sq Mi
$53,795
Median Household Income
$37,675
Median Earnings
$1,371
Median Rent
$215,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Concrete block half-duplex with roof and bathroom updates, open living space, and residential zoning.
Where is this residential income property located?
The property is located at 920 BOULDER DRIVE South Daytona, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath concrete block half‑duplex; Built in 1981; Roof and bathroom updates completed
