An Airbnb Deland FL can be a profitable investment for people willing to take the risk.
DeLand, located in Florida, is home to one of the most luxurious real estate markets in the US and is known for its exceptional nature preserves and parks. DeLand seems as good as any other city in Florida when it comes to investment opportunities. The popularity of Florida’s real estate market is undeniable, with the state continuing to attract the attention of real estate flippers and investors through the years.
However, that’s only a fraction of what you need to know if you’re planning on making an actual investment in Airbnb DeLand FL.
Like any other real estate location, DeLand comes with advantages and disadvantages when it comes to investing – and that’s exactly what we’re going to talk about today.
If you wish to be certain about your decision to invest in the cozy Florida city in 2022, read our article and gather all the information you need.
Things to Know About the Florida Real Estate Market
Investors must dig into a few things before they officially decide to put their money in a particular real estate market. With trends constantly changing, everything you know about real estate is relative, especially when it comes to a hectic market like Florida.
Call them what you want – reminders or precautions – but here are certain factors you should consider if you’re planning to invest in Airbnb DeLand FL.
Real Estate Options Are Versatile
The real estate market – especially the one in the US – is versatile. Investors and real estate agents need to decide in advance what type of Airbnb income property they wish to invest in here.
Since we’re talking about Florida, vacation rentals are probably the first thing that popped into your mind – but know that it’s not all that the Sunshine State can offer to newcomers.
Statistically speaking, Florida is profitable in terms of real estate investments – both vacation rentals and living accommodations. You just need to do the research.
Investing in Tourism and Retirement
Now, let’s be more specific about Airbnb DeLand FL and its investment opportunities. When we talk about the individual groups that the city attracts, the statistics suggest tourists and newly retired.
We believe that the first group is pretty self-explanatory. Whether it is a smaller city, such as DeLand, or a larger one, like Miami, tourists will generally be interested in spending at least two weeks in a place like that, far away from their boring city life.
Florida is also attractive to newly retired, but not in terms of vacation rentals. With this demographic, it’s all about spending their retirement years in a peaceful and sunny place.
In such cases, investors may turn to house-flipping. Small locations like DeLand are a real hotspot.
Getting Property Management Companies Involved
Getting to know your way around Airbnb DeLand FL tends to be much more complex – and time-consuming – when you’re a beginner. That’s why you shouldn’t underestimate the “help of friends” and turn to property management companies for support.
For one, property management companies will help you get to know the landlords in your area better. They’ll also handle deposits and other important matters that relate to your Airbnb rental income. Getting help from such companies will help you bring in more revenue, contribute to positive cash flow, and keep your property busy all year long.
Doing everything by yourself is a lot harder. Plus, you’re probably not familiar with all the rules and regulations, especially if you’re new to Florida’s real estate market.
Florida Housing Market Rules and Regulations
There’s no point in avoiding legal matters. Sure, deciding on the location is crucial, but you shouldn’t neglect the legal side of real estate investing.
If you’re a beginner and you’re interested in Airbnb DeLand FL, we will help you understand the obligations of a real estate investor a bit better. Let’s break down some of the basics. For example, leases and rentals are all governed by state laws. Such laws define the limits on deposits, returns, and other provisions.
Confusion is common – and there will always be cases in which renters rely on illegal actions or discriminate against tenants. It can go unnoticed if nobody speaks up, but the chances are that the local authorities will catch up with your fraudulent actions. Worse, you may end up spending a significant portion of your anticipated Airbnb rental income on legal fees.
Again, investing in the DeLand real estate market is profitable, but the whole process can be confusing for someone who’s just starting out.
Essentially, there are two types of contracts you should know about here. The first contract imposes that the seller bears all responsibility should there be a problem with the property.
However, there is an “As-Is” contract, which most investors do not know about. In an “As-Is” contract, if there is an issue with the property in question, the seller is under no obligation to fix it. As such, the contract gives the buyer a bit more space to consider if they want to withdraw from their investment.
Understanding contracts can be demanding, and you need to be focused and educated on the subject. So, again, if you’re a beginner and want to make a wise decision, don’t hesitate to reach out for help.
DeLand Real Estate Market Performance
Investing in real estate requires some exceptional research skills and the ability to estimate the return on investment in a certain area.
Let’s look at DeLand’s Airbnb demand and evaluate its real estate performance:
- Median Price For Property: $398,639
- Property Price per Square Foot: $221
- Number of Listings For Sale: 36
- Days on Market: 55
- Number of Airbnb Listings: 7
- Airbnb Rental Income: $3,646
- Airbnb Cash on Cash Return: 6.29%
- Airbnb Daily Rate: $100
- Airbnb Occupancy Rate: 64%
Based on the numbers you’ve seen so far, the logical question would be, “Is Airbnb DeLand profitable?”
Surprisingly, it is. Even with DeLand’s population of less than 40,000, it’s still a viable proposition for making money in real estate.
You’re on a good path as long as you stick to the numbers and rely on Mashvisor’s Rental Property Calculator. Our Airbnb calculator is designed to help investors find the most profitable property and give them a more precise insight into the current performance of the real estate market in a particular location.
Related: What’s the Best Airbnb Analytics Platform?
Features of a Profitable Investment Property In DeLand
In order to find the best option for you, you need to pick up a couple of tips that will take you in the right direction. So, here are some guidelines on how to easily spot a profitable Airbnb DeLand FL property.
Number of Listings Available
If you’ve paid attention to DeLand’s investment performance, you might’ve noticed that we tend to rely on the number of Airbnb listings. Why? Because the figure helps you to think your investment through and determine the average rent for your property.
When it’s an area with a large number of listings and vacancies, the market forces landlords to lower their rents. However, when the opposite is the case, it gives investors the freedom to raise the rent – thus ensuring a higher profit.
In the case of Airbnb DeLand FL – or any other real estate market for that matter – location is critical. But you already know that.
Finding a good location is just half of your investing journey – and it’s made easier with the help of our tools. The neighborhood you choose will be crucial for the tenants you attract.
In such a case, it’s vital to look at the entire real estate market of that area and make a selection of the most profitable neighborhoods for rent – depending on your short term rental strategy, of course.
The fact is, would-be investors are known to ignore amenities and just focus on location. However, as far as Airbnb DeLand FL goes, you need to consider the attractions that will bring tenants to the city.
Search for parks, movie theaters, gyms, and festivals held in DeLand, for example. A convenient location will surely convince a tourist to book your short-term rental ASAP.
Low Crime Rate
Let’s be honest – nobody wants to book a place where they’ll fear for their safety every time they get back to their room. In larger cities, higher crime rates are one of the most common problems for both residents and landlords. However, DeLand is in good standing.
Since it’s a relatively small city, everything is local – and everyone seems to know everyone here. Residents consider the northwest part of DeLand to be the safest.
Related: How to Determine Rental Demand Before Buying an Investment Property
The Safest and Most Expensive Neighborhoods In DeLand
Investors can be at crossroads when trying to find the best neighborhoods to invest in here. Since safety and price are essential, here’s a list of the most expensive and safest places in DeLand to make your job easier. It’ll definitely help you in your further research.
Related: Where Should You Invest in Airbnb Rentals in Florida?
The Safest Neighborhoods
- Cypress Lake Estates/Daytona Park Estates
- Glenwood/Daisy Lake
- Lake Mack Park/Forest Hills
- DeLand Highlands
- West DeLand
The Most Expensive Neighborhoods
- Orange Camp Rd/S Blue Lake Ave.
- Glenwood/Daisy Lake
- E. New York Ave./S. Boston Ave.
- West DeLand
- Woodland Blvd/McGregor Rd.
As you can see, there’s an overlap – so do your due diligence well and be wise with your decision!
More Reasons to Add Airbnb DeLand FL to Your Real Estate Portfolio
The numbers speak for themselves – but here are a few more reasons why tourists are drawn to DeLand, despite it being deemed a “cozy city” in Florida.
The Stetson Mansion
Number one on the list of the city’s tourist attractions is the Stetson Mansion. The mansion is Florida’s first luxury real estate property, dating back to the 19th century. It was built by John B. Stetson, hence the name. It’s the largest, most luxurious structure built right before the beginning of the 20th century.
Those who want to visit the stately landmark need to make reservations. It’s not a museum, but numerous tours are organized throughout the year. Recently, the building underwent restoration, and it is now ready to show off its new look in full glory.
Hontoon Island State Park
For the outdoorsy person or those who like to explore the local history, they should consider taking a day to visit the Hontoon Island State Park.
The park is home to a native habitat that’s at least a thousand years old. They can explore its beauty by taking a private boat or park ferry. Either way, it’s a real adventure. And for nature enthusiasts, overnight boat trips are also available.
Boating is not the only activity you can experience here, though. Tourists also get to enjoy:
Oh, and it’s open year-round, too.
Museum of Art
DeLand is not only attractive in terms of adventure parks; it’s also rich in terms of history and art.
DeLand’s Museum of Art is an enriching cultural and interactive experience for the residents and newcomers alike. Anyone who spends a few days in DeLand should not miss the opportunity to visit the non-profit institution.
The museum is home to more than 750 pieces of art, by the way. Plus, it’s recognized for its academic excellence and bringing the public closer to famous artists, educational programs, and gallery talks.
Airbnb DeLand FL Investing: Summing Up
We’ve successfully covered the topic of investing in Airbnb DeLand FL – from a real estate investor’s viewpoint.
Generally speaking, the real estate market in Florida remains a hotspot for investments, whether the focus was on short or long-term rentals. And as far as DeLand goes, investors are interested in generating profits by investing in short term rentals.
After looking at the city’s features and doing a bit of research in terms of location, you’re good to go and make it a part of a successful short-term rental strategy. DeLand is a safe place for tourists and guarantees fun to anyone who decides to spend their vacation here.
Of course, nothing is complete without the help of Mashvisor. If you want to make a well-calculated guess and invest in the right location, we’re here to help you do it. To start your free trial of Mashvisor, click here.