NEAR THE BEACH! Daytona Flip or Rental - 38 S. Grandview Ave

  • House
    1630 square_feet
    bedroom 3 Bedrooms
    bathroom 2 Baths
  • Flip/Rental
    $132,900
    Status : Available
    Year Built : 1935
 Description
Beach Side Daytona Flip or Rental

38 S Grandview Ave,
Daytona Beach, FL 32118

Price: $132,900

ARV: 230k-250k 
depending on rehab level

Bedroom: 3
Bath: 2
Garage: None
Ext Const: Block
Built: 1935
Sqft: 1630
Ppsf: 81.53
Tax/Yr: 2101
Septic/Sewer: Sewer
HOA: None
County: Volusia
Rent = $1400/ month
Gross ROI = 12.64%
Air BNB = $110 / Night

Property Description:
  Every now and again a deal pops up that is a little too good to let pass you by.  How about adding the ONLY beach-side single-family-home in Daytona Beach for under $224.9k?  Not only does this represent the cheapest house on the beach-side in Daytona by sales price, but it is also the cheapest price per square foot of any available single-family home by over $40 per square foot.  In fact, a similar built, but smaller home recently sold for $250k in less than 2 weeks that is 3 streets further from the ocean!  No single-family home has sold traditionally beach-side in Daytona in over a year for a lower price according to MLS.  This will also mark the cheapest price per square foot to close beach-side in over a year, and one of only two properties to close traditionally for under $104 per square foot.  This property could be flipped for a nice profit or used as an incredibly profitable rental or Air BNB.  With so many money-making options, and no deal like this available this close to the beach in Daytona, this makes for an opportunity you will want to act quickly on.
 

Property Features Include: 
 4 blocks from the beach, central location between Halifax River and Atlantic Ocean, block construction, newer roof, unique basement (heated) that could be finished for an additional 504 square feet of living space or an additional rental, ocean-view from second floor deck, large parking area, functional kitchen with newer cabinets and backsplash, tile flooring throughout, walking distance to Daytona Boardwalk, Breakers Oceanfront Park and famous dining/shopping of Daytona Beach
 

Rent Rehab:
 20k

Update electrical, replace siding on exterior of home, cosmetic updates, misc repairs throughout home, new window unit AC
 

Flip Rehab
: 40k-45k

New siding or stucco exterior, add central AC (for max value) or new window units, update kitchen, flooring, bathrooms, water heater, option to finish the basement area and increase value further with more square footage or more rental space, landscaping, misc cosmetic repairs throughout 
 Rehab Work Needed
  • Air Conditioning
  • Floor
  • Kitchen
  • Paint Exterior
  • Yard
 General Amenities
 Distance
  • Beach : 4 blocks Minutes

 Summary

Overview
NEAR THE BEACH! Daytona Flip or Rental - 38 S. Grandview Ave Flip/Rental
$132,900
Property ID: FL190960981
Address: Login to View
City: Daytona Beach
State/Province: FL
Zip Code: 32118
Country: USA


Rental Analysis

+ Purchase Price: $132,900
+ Purchase Closing Cost: $3,987
+ Rehab Cost: $20,000
Total Acquisition Cost: $156,887


Monthly Rent: $1,400
+ Annual Potential Rent: $16,800
- Vacancy (3%): $504
Annual Gross Income: $16,296
Annual Gross ROI: 10.39%


Flip Analysis

+ Purchase Price: $132,900
+ Purchase Closing Cost: $3,987
+ Rehab Cost: $45,000
Total Acquisition Cost: $181,887


+ Selling closing cost: $7,200
+ Agent Commision : $7,200
Total Holding Cost: $14,400


Total Flip Cost: $196,287
Projected ARV: $240,000
Net Income (Profit): $43,713
CAP Rate: 22.27%

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