UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,066 sqft
Price per Sqft $77
Subdivision Conrad & Bullard Lt 04 & 05 Blk 27 Daytona
MLS Listing ID O6346787
Bedrooms 3
Full Baths 2
Construction Status Fixer
HOA Y/N No
Year Built 1929
Annual Tax Amount $1,091
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 8x56
Property Sub-Type Single Family Residence
Source Stellar MLS
Property Description
All-In Cost: $123,000 (purchase + repairs; excludes closing, holding, or other fees).
Potential Rental Income: $2,490/month ($29,880/year), cited as (Housing Choice Voucher) from Daytona Beach. 2025
Annual Expenses: Property Taxes: $1,092/year., Lawn Care: $600/year., Insurance: $1,800 (you listed this as "/month," but that would be $21,600/year Total Annual Holding Costs: $3,492/year (taxes + lawn + insurance).
Cash or hard money only (flip contract, no conventional financing).
Encroachment issue from neighboring property (buyer must accept; attorney is resolving).
5-day inspection period after contract with proof of funds.
Optional management via One Key Management: 5% monthly fee for tenant placement + 1 month's rent upfront (not mandatory).
Cap Rate Calculation in Description: $140,000 / $3,492 = listed as 21%.
As-is offer: $93.81/sq ft (low for a fixer-upper)
Foundation is solid, new roof needed Call Bruzz Roofing about $7500. No AC. No Appliances. No flooring. You must fix it all
Annual Net Operating Income (NOI):
Base: Rental $29,880 - Expenses $3,492 = $26,388.
Adjusted: Rental $29,880 - Taxes $1,092 - Lawn $600 - Insurance $3,000 - Management (optional 5%) $1,494 = $23,694 (excludes upfront placement fee
Cap Rate (NOI / All-In Cost; measures return on investment for hold):
Base: $26,388 / $140,000 = 18.8%
Fix-and-Flip Profit Potential:
All-In Cost: $140,000 + Holding Costs (~$5,000 for 3–6 months utilities/insurance/taxes) + ˜ $145,000 total.
Potential Profit: $200k sale - $145k costs = $55,000 (26% ROI); or $200k sale - $145k = $101,000 (65% ROI).
Rule of Thumb: Aim for 70% of ARV minus repairs ($209k * 0.7 = $146,300 - $40k = $106,300 max buy price). At $100k, this passes.
Break-Even Analysis: With adjusted NOI $23,694, the property covers costs at ~80% occupancy. Cash flow: ~$1,974/month pre-tax (strong for hold).
No sellers disclosures available as neither party has lived in the home.
Location
State FL
County Volusia
Community Conrad & Bullard Lt 04 & 05 Blk 27 Daytona
Area 32114 - Daytona Beach
Zoning RESIDENTIA
Interior
Interior Features Cathedral Ceiling(s), Primary Bedroom Main Floor
Heating Central, Electric
Cooling Central Air, None
Flooring Other
Furnishings Unfurnished
Fireplace false
Appliance None
Laundry Inside
Exterior
Exterior Feature Sidewalk
Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected
View City
Roof Type Other
Attached Garage false
Garage false
Private Pool No
Building
Story 1
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Frame
New Construction false
Construction Status Fixer
Others
Pets Allowed Cats OK, Dogs OK
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
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