547 Division Street, Daytona Beach, FL

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.