Turnkey Duplex Income
For Sale
$269,500
921 Winchester Street, Daytona Beach, FL 32114
MULTI_FAMILY - Daytona Beach, FL
Property Size1,467 SF
Lot Size0.14 Acres
Price / SF$183.71
Days on Market67
Property Features for 921 Winchester Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4
Appliances
Refrigerator, Electric Range
Subdivision
Sunnyland Park
Lot features
Dead End Street
Directions
From US1 to Mason West to Tomoka Make left to Winchester left
Standard status
Active
APN
5238-12-00-0880
Size
1,467 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
38-15-33 LOTS 88 & 89 SUNNYLAND PARK PLAT NO 5 MB 6 PG 114 MB 20 PG 71 PER OR 4830 PG 3211 PER OR 7736 PG 2140 PER OR 7737 PG 3183 PER OR 7987 PG 1435 PER OR 8707 PG 4035 PER OR 8708 PG 4006
Tax Annual Amount
2113
Legal Description
38-15-33 LOTS 88 & 89 SUNNYLAND PARK PLAT NO 5 MB 6 PG 114 MB 20 PG 71 PER OR 4830 PG 3211 PER OR 7736 PG 2140 PER OR 7737 PG 3183 PER OR 7987 PG 1435 PER OR 8707 PG 4035 PER OR 8708 PG 4006
Utilities
Heating system
Central
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Building Details
Year built
1954
Number of units
2
Building materials
Concrete
Roof type
Shingle
Listing Agency:
Rhynes Real Estate
(386) 232-8263
Listed By:
Takeshia Rhynes
(386) 232-8263
Added: Jun 11
Changed: Jul 18
Last Checked: Aug 16 at 12:06PM
MLS# 1227472
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 turnkey duplex offers two residential units on a compact lot. One unit is configured as 3 bedrooms and 1 bathroom and is currently leased. The second unit is a 1-bedroom, 1-bath layout and is currently vacant, providing flexibility for an incoming tenant or owner occupancy. Updates include a new AC system and a new water heater.
Located in Daytona Beach, the property is described as being minutes from shopping, dining, major roadways, and the beaches, supporting convenient everyday access.
As offered, the duplex provides an income stream from the leased unit while the second unit remains available to lease or occupy.
Located in Daytona Beach, the property is described as being minutes from shopping, dining, major roadways, and the beaches, supporting convenient everyday access.
As offered, the duplex provides an income stream from the leased unit while the second unit remains available to lease or occupy.
Key Highlights
- Duplex built in 1954 with concrete construction and a shingle roof
- Unit A: 3‑bedroom, 1‑bath currently leased for $1,650/month
- Unit B: 1‑bedroom, 1‑bath is vacant, ready for a new tenant or owner occupancy
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
$12,869
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
4.78%
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%
$257,380
$257.4K
Cap Rate 7%
$183,843
$183.8K
Cap Rate 9%
$142,989
$143.0K
Market Conditions
NOI Build-Up for 1,467 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
$20.4K $13.92/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$18.4K $12.53/SF
− OpEx
−$5.5K −$3.76/SF
NOI
$12.9K $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%
$257,380
Cap Rate 7%
$183,843
Cap Rate 9%
$142,989
Alternative Uses
Best Use
Multifamily LT 5
$183.8K
$160.9K – $214.5K
NOI $12,869 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$159.7K
$139.7K – $186.3K
NOI $11,179 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,279 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
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-unit duplex includes a leased 3-bedroom, 1-bath unit and a vacant 1-bedroom, 1-bath unit.
Where is this duplex located?
The property is located at 921 Winchester Street Daytona Beach, FL.
What is the asking price?
The asking price for this property is $269,500.
What are key features of this property?
This property features: Duplex built in 1954 with concrete construction and a shingle roof; Unit A: 3‑bedroom, 1‑bath currently leased for $1,650/month; Unit B: 1‑bedroom, 1‑bath is vacant, ready for a new tenant or owner occupancy
