The owner and Property Manager, Calixte Duffaut, is selling a portion of his property's equity on the Lofty Marketplace. Calixte plans to keep 10-20% of the equity and continue managing the property indefinitely.
The property has a total loan balance of $429,150 and the lenders have approved the owner to sell their equity. The loan documents can be viewed here. The seller must continue to make monthly payments on their loan balance, as the lenders have first lien on the property. Investors on Lofty do not pay a portion of the debt payments.
The Rental Yield is based on the value of $214,200 (Total Investment Value - Debt). As the seller pays down their debt over time, their equity percentage in the property will increase and the equity percentage of Lofty investors will decrease proportionally. As a result, the Rental Yield for investors on Lofty will decrease as the debt is paid down.
Renovated Duplex located in the center of Daytona Beach, Florida
Details
- Beautiful duplex in the center of Daytona Beach
- Top unit has 3 bedrooms, 2 bathrooms and an office
- Bottom unit has 4 bedrooms and 2 bathrooms
- Both units have been fully renovated
- This property features a brand new roof, massive front yard and parking for everyone
- This home is also within walking distance to the Ocean Walk Shoppes, Daytona Lagoon water park, bandshell, restaurants, and shopping.
- Video Walk-through
Property Management and Insurance
Occupancy Status
- Unit 1 (3 bedroom, 2 bathroom)
- Unit 2 (4 bedroom, 2 bathroom)
- 1 year lease (09/30/2023 - 09/29/2024)
- $2,625/month
- $2,600 Security Deposit
- Lease Agreement
Location Data
- "B-" Rating for Zip Code on Niche
Due Diligence Documents
