Daytona Beach - Beach Property For Sale #5199369

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 percent 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. A single-family home in Daytona Beach offers a 10 cap rate with a sales price of only 100. You have the option to fix and hold or fix and flip, potentially realizing an immediate equity of 85.