20 days on rocket

Sale Pending

140 W Michigan Ave, Deland, FL, 32720

$825,000

Home List Price

$9,797*

Closing Credit

0 Baths
4,217 SqFt
$196/SqFt
Multi
Schools Nearby

Location

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140 W Michigan Ave, DeLand$825,000

Buyer Closing Credits

$9,797*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingCommon
Year Built1925
HeatingWindow Unit(s)
CoolingWall/Window Unit(s)
MLS #O6194234
Lot Size0.40 Acres
StatusSale Pending
(Pending)

About 140 W Michigan Ave

Under contract-accepting backup offers. Here is an exceptional investment opportunity that would be a remarkable addition to your investment portfolio. Situated in the highly sought-after locale of Deland, a mere stone's throw away from Stetson University and the award-winning Downtown Deland, this property stands as a prime investment in the flourishing rental market of Central Florida. This turnkey property is comprised of six units, with five units located within the main house, each benefiting from individual electrical meters, and an additional separate building to the rear. The anticipated current rental income is projected to exceed $81,000 annually, underlining the lucrative nature of this investment. Significant improvements have been made to enhance the property's value and appeal, including a comprehensive electrical overhaul completed within the past year and a roof replacement in 2017, among various other updates. Its enviable location in the vibrant Downtown area ensures that residents enjoy convenient access to a wide array of dining, shopping, and entertainment options, further enhancing its attractiveness to potential renters. This investment opportunity represents an excellent acquisition for those looking to diversify and strengthen their investment portfolio through the addition of a high-yield asset in a desirable and dynamic location.

Property Details

Property Features

Property Information:

  • Year Built: 1925
  • Living Area: 4,217 SqFt

Listing Office:

  • Office Name: HUGHES HOMES REALTY
  • Office Phone: (407) 557-8775
  • Listing Agent: Nicola Hughes

Interior Features

Interior Information:

  • Appliances: Microwave, Range, Range Hood, Refrigerator
  • Flooring Type: Carpet, Hardwood, Wood
  • Interior: Built-in Features, Ceiling Fans(s)

Exterior Features

Exterior Information:

  • Private Pool: No
  • Exterior: Other

Parking Information:

  • Parking: Common

Lot Features

Lot Information:

  • Lot: Historic, City Lot, Level, Near Public Transit, Oversized Lot, Paved
  • Lot Size: 0.40 Acres

Utilities

Utilities Information:

  • Heating: Window Unit(s)
  • Cooling: Wall/Window Unit(s)

School Info

Assigned Schools Information:

  • Deland High School, Public Magnet Grades 9-12
  • Southwestern Middle School, Public District Grades 6-8
  • Citrus Grove Elementary School, Public District Grades PK-5

Other

Directions Information:

  • Directions: S. Woodland Blvd to Left on W. Michigan.

Price Information

Listing Price Info

Price Summary:

  • List Price: $825,000
  • Price Per SqFt: $196/SqFt

Tax Information:

  • Annual Amount: $5,081
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in DeLand, FL.

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DeLand, FL

City

Med. Sold Price

$344.4K

Med. Price/SqFt

$201

Avg. Days On Market

43

# of Sold Homes

100

140 W Michigan Ave vs DeLand

20 DAYS ON ROCKET

-23 Days

$825,000

+$480.5K More

$196/SqFt

-$6 Less

KEY TAKEAWAY

This property is $480.5K more than the Median Sold Price and $6/SqFt less than other homes in DeLand, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MFRMLS
  • MLS Number: #O6194234

Listing Office:

  • Office Name: HUGHES HOMES REALTY
  • Office Phone: (407) 557-8775
  • Listing Agent: Nicola Hughes

IDX Listings courtesy of Stellar MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Note: Any Compensation information or listing brokers offer of compensation displayed is only applicable to other member participants of the source MLS.

Last updated on: 4/30/2024, 11:49:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

May 17, 2017Home Sold
$355,000

Tax History

YEARPROP. TAXASSESSMENT
2020$5,081$246,578
2019$4,900$227,014
2018$5,128$227,814
2017$4,189$208,571

History based on county public records data.

Payment Calculator

$4,185

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,540

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-4006733
5
/10

  • Citrus Grove Elementary School

  • 729 Hazen Rd

  • 1.93 miles

  • Public District Grades PK-5

Middle School

school-card-donut-4006734
3
/10

  • Southwestern Middle School

  • 605 W New Hampshire Ave

  • 1.84 miles

  • Public District Grades 6-8

High School

school-card-donut-4006735
5
/10

  • Deland High School

  • 800 N Hill Ave

  • 1.39 miles

  • Public Magnet Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $22,480. Typical income of DeLand, FL residents is less than $35k annually. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Florida›Volusia County›DeLand›32720›140 W Michigan Ave

This home is located at 140 W Michigan Ave in Deland, FL and zip code 32720. This 4,217 square foot home, which was built in 1925, sits on a 0.40 acre lot. It has been listed on Rocket Homes since April 10, 2024 and is currently priced at $825,000.

While more than 15 listings in DeLand, FL in March 2024 were sold above asking price, there were more than 22 listings sold at asking price, and more than 63 were sold below. Between February 2024 and March 2024, DeLand, FL real estate market has seen increase in the number of listings by 7.7%. The median list price of listings available in March 2024 was $344,408, while the average time on the real estate market was 43 days.

From Rocket Homes Real Estate and based on county public records data.

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