Ormond/Daytona Beach STR

Member since 2023 · 4 posts · 2 votes

I am moving to Ormond Beach in a few months and looking into getting my first STR property. I was curious if any BP investor has experience with STRs in the Daytona Beach/Ormond Beach area? Daytona Beach does not seem like a popular city when investors talk about STRs.

According to airDNA, the occupancy rate is 74% in Daytona Beach and 76% in Ormond Beach. The barrier to entry to buy a home is low, and has been low for awhile. However, I was curious if anybody had thoughts on investing in a STR there or looking at other places in Florida.

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Tyler GibsonBusiness Member

Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes

Quote from @Quinn Stewart:

Volusia County has stringent regulations about STR. There are tiny zoning areas that allow it. Essentially the property has to be on the east side of A1A (oceanfront) or in the Daytona Beach Tourist district (small area). So you can choose a multi-million dollar House on the Beach (probably won't cash flow) or a Condo. When selecting a condo, you have to be sure that it is zoned properly and that the HOA rules allow for less than 7-day rentals.

I own a Condo in Ormond Beach.

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
3y
Any beach front property will be highly marketable.
1 Reply
Chad Shultz
Real Estate Agent · East Central Florida · Member since 2021 · 121 posts · 94 votes
3y
There are quite a few rules about STR in the Ormond and Daytona areas. As long as you follow them, you'll be good and the money will flow. However, you are fooling yourself if you think you will just STR any beach property. We have two STR focus groups in the area, which I recommend you get involved with, before you pull the plug on a property. STR is not allowed in Volusia County, so just be cautious.
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Mike Shulman
Real Estate Agent · orlando, FL · Member since 2009 · 159 posts · 121 votes
3y
Quote from @Chad Shultz:

There are quite a few rules about STR in the Ormond and Daytona areas. As long as you follow them, you'll be good and the money will flow. However, you are fooling yourself if you think you will just STR any beach property. We have two STR focus groups in the area, which I recommend you get involved with, before you pull the plug on a property. STR is not allowed in Volusia County, so just be cautious.
Would you mind sharing those groups you were referring to?
0 Reply
Brooklyn McCarty
Investor · Member since 2022 · 1k+ posts · 754 votes
3y
Do your due diligence and see if there are regulations and permitting and what they are. If it checks out and the numbers work, go for it
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Chad Shultz
Real Estate Agent · East Central Florida · Member since 2021 · 121 posts · 94 votes
3y
@Mike Shulman
One of the groups is hosted by CFRI. You can find the info on their calendar at CFRI.net, (Central Florida Real Estate Investors). They meet once per month and the calendar is accessible by anyone. Another group is hosted by Chris Miller in the Daytona area, once per month. I am not able to post his information on this forum, so you would need to message me directly for me to send it, if you want it. You should be able to find him on Facebook, by searching Chris Miller Daytona or NuWaveProperties.
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Dwayne Byrd
Real Estate Broker · Palm Bay, FL · Member since 2017 · 175 posts · 89 votes
3y
I went up and looked at a few last year that were condo-tells in Daytona Beach. There were some that the numbers were AMAZING, but were questionable with hoa's or questionable people occupying other units etc. I did have one listed, sold it cash while putting together a financing offer. A couple weeks later the hurricane came, and part of the building fell into the ocean. All in All, was very impressed up there and found plenty with great numbers!
1 Reply
Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
3y
Quote from @Quinn Stewart:

I am moving to Ormond Beach in a few months and looking into getting my first STR property. I was curious if any BP investor has experience with STRs in the Daytona Beach/Ormond Beach area? Daytona Beach does not seem like a popular city when investors talk about STRs.
According to airDNA, the occupancy rate is 74% in Daytona Beach and 76% in Ormond Beach. The barrier to entry to buy a home is low, and has been low for awhile. However, I was curious if anybody had thoughts on investing in a STR there or looking at other places in Florida.

Volusia County has stringent regulations about STR. There are tiny zoning areas that allow it. Essentially the property has to be on the east side of A1A (oceanfront) or in the Daytona Beach Tourist district (small area). So you can choose a multi-million dollar House on the Beach (probably won't cash flow) or a Condo. When selecting a condo, you have to be sure that it is zoned properly and that the HOA rules allow for less than 7-day rentals.
I own a Condo in Ormond Beach.
[email protected]407-590-9858
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Ryan Martin
Toronto, Ontario · Member since 2014 · 7 posts · 1 vote
3y
Thanks @Quinn Stewart for starting this and thanks for all the helpful info so far everyone. I've been hunting in Daytona Beach for an STR since the start of the year. The info on investor groups is very helpful as well. Thanks @Chad Shultz. Wondering if anyone could shed light on non beachfront property on the shore-side in the Daytona area. Are the numbers worthwile or must you buy direcly on the beach?

Thanks in advance.
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Paul Pratt
Real Estate Agent · Member since 2023 · 92 posts · 80 votes
3y
Quote from @Ryan Martin:

Thanks @Quinn Stewart for starting this and thanks for all the helpful info so far everyone. I've been hunting in Daytona Beach for an STR since the start of the year. The info on investor groups is very helpful as well. Thanks @Chad Shultz. Wondering if anyone could shed light on non beachfront property on the shore-side in the Daytona area. Are the numbers worthwile or must you buy direcly on the beach?

Thanks in advance.

@Ryan Martin I work local in the area, shoot me a message. It depends on the exact location. But, in short, no you do not need to be on the beach to have solid numbers.
1 Reply
Joseph BeilkeBusiness Member
Real Estate Agent · Palm Coast, FL · Member since 2018 · 364 posts · 244 votes
3y
My wife/broker @Sarah Beilke and I are working with a few investors looking for STR/MTR between St Augustine and Daytona Beach. The rules vary greatly and as one said here Volusia County as a whole does not allow STR, but if you look there are many. Will the county begin to enforce or change the rules, not sure, sure wish I had a Christal ball. @Quinn Stewart Be happy to help feel free to reach out.
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Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
3y
Quote from @John Underwood:

Any beach front property will be highly marketable.

Echoing this point. Any beachfront property should appraise well from a rental comparable schedule, as well as produce favorable Air DNA data.
0 Reply
Leor Fay
Investor · FL · Member since 2020 · 12 posts · 8 votes
3y
@Quinn Stewart

I actually am selling my beach side STR to pursue a new venture.

Daytona Beach has a lot of events that can make it a lucrative AirBnB if you market and price right!! So keep a close eye on the calendar of events in the area!!!

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