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547 Division STREET, Daytona Beach, FL, 32114 | $100,000
Under contract-accepting backup offers. Investor Alert! Consider this fix-and-flip or fix-and-hold opportunity, yielding $2, 052/month as per HUD (Section 8) for a single-family residence. With Section 8, expect a 15% annual increase in rental income. A three-bedroom, two-bathroom house in Daytona Beach presents an excellent rehab prospect. Offered at $93. 81/sq ft, the property's estimated ARV post-renovation stands at $225, 000. It requires a new roof (see attached estimate) and has an encroachment issue (see attached survey). Estimated repairs are $40, 000, with a total investment of $140, 000, leading to $85, 000 of instant equity. Terms are cash only, and the encroachment will remain. Anticipate a 10% cap rate on your investment or opt for refinancing and cash out.
The listing agent holds a financial interest in the seller's corporation, with a $1, 000 bonus for sales closed before 8/31/2024. The numbers speak for themselves; the preliminary repair list is complete. This presents an excellent chance to acquire the property and generate monthly rental income. With the recent opening of Costco in Daytona Beach, the demand for housing has surged as people relocate to the area. As you may know, Section 8 tenants often face long waiting lists, offering a stable income stream for your investment. Whether you choose to flip the property or extract its equity, the potential for profit is significant. This property could be a lucrative investment—contact me, and I'll demonstrate how. This is a unique opportunity to become involved.
Features
- Rooms: 8
- Bedrooms: 3
- Baths: 2 full
- Lot Size: 8 x 56
- Laundry: Electric Dryer Hookup, Gas Dryer Hookup, Washer Hookup
- Style: Ranch
- Year Built: 1929
- Garage: Covered, Driveway
- Heating: Central, Natural Gas, None
- Cooling: Central Air, None
- Approx Sq. Feet: 1,066
- Acreage: 0.11
- Lot Size: 8 x 56
- Est. Taxes: $1,077
- View: City
- Elem. School: Sugar Mill Elem
- Middle School: Campbell Middle
- High School: Spruce Creek High School
- Pet Policy: Cats OK, Dogs OK
- Appliances: None
- MLS#: O6226938
- Days on Market: 6 days
- Website: https://www.raveis.com
/prop/O6226938/547divisionstreet_daytonabeach_fl?source=qrflyer
Listing courtesy of One Key Realty Phone: 305-525-8947
William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
547 Division STREET, Daytona Beach, FL, 32114
$100,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $80,000 | $80,000 | $80,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.125% | 6.990% | 6.250% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.456% | 7.171% | 6.518% |
| Monthly Tax Payment | $90 | $90 | $90 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $539 | $532 | $686 |
| Total Monthly Payment | $704 | $697 | $851 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388