Three-Bedroom
For Sale
$465,000
18 PROSPECT Lane, Palm Coast, FL 32164
Residential Income, PALM COAST, FL
Property Size2,622 SF
Lot Size0.23 Acres
Price / SF$177.35
Days on Market196
Property Features for 18 PROSPECT Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
DPX
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 2, Dining Room, Bedroom 3, Bathroom 3, Bedroom 6
Parking features
Driveway, Open
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo, Vaulted Ceiling(s), Walk-In Closet(s)
Exterior features
Private Mailbox, Rain Gutters
Appliances
Dishwasher, Disposal, Electric Water Heater, Range, Range Hood, Refrigerator
Subdivision
PALM COAST SEC 24
Directions
Belle Terre Blvd to Prichard Dr., turn left onto Providence Ln., turn right onto Prospect Ln., 18 Prospect will be on your right.
Standard status
Active
APN
07-11-31-7024-00530-0230
Size
2,622 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 24 BLOCK 53 LOT 23 OR 198 PG 179 OR 508 PG 1672 OR 1089 PG 122 OR 1458 PG 1253 OR 2002/1693 OR 2046/590
Tax Annual Amount
6508
Legal Description
PALM COAST SECTION 24 BLOCK 53 LOT 23 OR 198 PG 179 OR 508 PG 1672 OR 1089 PG 122 OR 1458 PG 1253 OR 2002/1693 OR 2046/590
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
patio
Building Details
Year built
2007
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
CLARION GROUP, INC.
(386) 225-4785
Listed By:
Karen Radcliff · License #468496
(386) 793-0122
Added: Feb 14
Changed: Aug 24
Last Checked: Aug 29 at 2:06PM
MLS# FC316165
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with three bedrooms and two full bathrooms. Combined building area is 2,622 square feet on a 0.23-acre lot. Interior features include vaulted ceilings, ceramic tile flooring, walk-in closets, ceiling fans, and combined living and dining areas. Each side also includes a kitchen equipped with a range, range hood, refrigerator, dishwasher, disposal, and electric water heater.
The property was built in 2007 and has newer air-conditioning systems and roofs. Outdoor features include porches, rain gutters, private mailboxes, and driveway parking. Public water and public sewer serve the property, which carries DPX zoning. Both sides are currently rented.
The property was built in 2007 and has newer air-conditioning systems and roofs. Outdoor features include porches, rain gutters, private mailboxes, and driveway parking. Public water and public sewer serve the property, which carries DPX zoning. Both sides are currently rented.
Key Highlights
- Two‑unit layout with 3 bedrooms and 2 bathrooms on each side
- 2,622 square feet on 0.23 acres
- Both sides are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,275
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,500
$605.5K
Cap Rate 7%
$432,500
$432.5K
Cap Rate 9%
$336,389
$336.4K
Market Conditions
NOI Build-Up for 2,622 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.6K $17.40/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$43.3K $16.50/SF
− OpEx
−$13.0K −$4.95/SF
NOI
$30.3K $11.55/SF
Area
Flagler County, FL
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,500
Cap Rate 7%
$432,500
Cap Rate 9%
$336,389
Alternative Uses
Best Use
Multifamily LT 5
$432.5K
$378.4K – $504.6K
NOI $30,275 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$384.2K
$336.2K – $448.3K
NOI $26,897 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$630.1K
$551.3K – $735.1K
NOI $44,106 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 32164, FL
49,412
Population
22,902
Households
2.2
Avg Household Size
48
Median Age
26%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
1,520
Density / Sq Mi
$71,738
Median Household Income
$37,976
Median Earnings
$1,724
Median Rent
$308,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences offer vaulted ceilings, ceramic tile finishes, newer roofs, and public water and sewer service.
Where is this duplex located?
The property is located at 18 PROSPECT Lane Palm Coast, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit layout with 3 bedrooms and 2 bathrooms on each side; 2,622 square feet on 0.23 acres; Both sides are currently rented
