Perfect Rental
633 MAGNOLIA AVE, Daytona Beach, FL
11.60% return
LP:
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Property Description

Amazing property. Brand new roofs with 30 year warranty. Great condition. No issues whatsoever. Long term tenants. Everyone is current on rent and pay on time. Tons of growth in the area. These units have low expenses and will generate tons of income with minimal management.

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units4
  • Total bedrooms8
  • Total bathrooms4
  • Building size2552 sq. ft.
  • Lot size0.2 acres
  • Year built1963
  • CountyVolusia County
  • Subdivision78
  • ConstructionCBS
  • Roof
  • Water sourceWell
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

Property Financial Summary

  • Asking price $239,900
  • Estimated rehab 1 $0
  • Total investment $239,900
  • Type Actual
  • Gross income (annually) $36,000
  • Operating expenses (annually) $8,178
  • Net income (annually) $27,822
  • Gross return 15.01%
  • Gross income (monthly) $3,000
  • Operating expenses (monthly) $681
  • Net income (monthly) $2,319
  • Net return 11.60%

Property Income & Expenses

  • Income
  • Unit 1: 2 bed / 1 bath $750/month $9,000/year
  • Unit 2: 2 bed / 1 bath $750/month $9,000/year
  • Unit 3: 2 bed / 1 bath $750/month $9,000/year
  • Unit 4: 2 bed / 1 bath $750/month $9,000/year
  • Total $3,000/month $36,000/year
  • Expenses
  • Property Taxes $151/month $1,818/year
  • Insurance $183/month $2,200/year
  • Lawn care $60/month $720/year
  • Maintenance reserve $167/month $2,000/year
  • Water, Sewer and Waste $120/month $1,440/year
  • Total $681/month $8,178/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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