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Updated almost 6 years ago on . Most recent reply

User Stats

49
Posts
7
Votes
Dyanne C.
  • Investor
  • Miami, FL
7
Votes |
49
Posts

Daytona Beach, FL - Unsure on neighborhood

Dyanne C.
  • Investor
  • Miami, FL
Posted

Property is located in Daytona Beach zip code 32114 Fairmount Rd. Would love to hear from a local!

Asking Price 42k

Rehab 5-10k depends how much I put in cosmetic upgrades.

Closing 5k 

All in 57k.

Rent $800

Taxes $83.33

PM $80

Insurance $125

Repairs $80

Vacancy $80

Cashflow $351

I intend to buy it in cash and cash refi/heloc some of the money back out. 

What is making me nervous is that I have gotten mixed feedback from two different PM companies on the neighborhood. One company assured me they could place a good tenant in that property for 800-850 and it was a decent neighborhood. The other advised I stay away and look towards Holly Hill or Port Orange instead. I intend to call a third company tomorrow and would love to hear from a BP member in Daytona. :)

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