Duplex with Fenced
For Sale
$329,000
2225 India Palm Drive, Edgewater, FL 32141
Residential Income, Edgewater, FL
Property Size1,972 SF
Lot Size0.22 Acres
Price / SF$166.84
Days on Market54
Property Features for 2225 India Palm Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2
Parking features
Driveway
Appliances
Refrigerator, Electric Range, Dishwasher
Subdivision
Not In Subdivision
Lot features
Few Trees
Directions
95 south to exit 244 - left off exit towards Edgewater - Right onto Hibiscus Drive, right onto 22nd street, left onto India Palm Drive
Standard status
Active
APN
8402-01-06-9860
Size
1,972 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 6986 & 6987 BLK 225 FLORIDA SHORES UNIT 7 MB 23 PG 131 PER OR 4796 PG 0885 PER OR 6771 PGS 3279-3280 PER OR 6789 PG 1048 PER OR 6926 PG 0676 PER OR 8745 PG 0476
Tax Annual Amount
4925
Legal Description
LOTS 6986 & 6987 BLK 225 FLORIDA SHORES UNIT 7 MB 23 PG 131 PER OR 4796 PG 0885 PER OR 6771 PGS 3279-3280 PER OR 6789 PG 1048 PER OR 6926 PG 0676 PER OR 8745 PG 0476
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Amenities
fully fenced backyard
Building Details
Year built
2002
Number of units
2
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
Livin Paradise Realty
(386) 276-3600
Listed By:
Ana DeAlmeida · License #3178637
(386) 585-0379
Added: Jul 30
Changed: Sep 16
Last Checked: Sep 21 at 1:06AM
MLS# 1229162
Copyright © 2026 Daytona Beach Area Association of Realtors. 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 residential units, each arranged with 2 bedrooms and 1 bathroom. The property measures 1,972 square feet on a 0.22-acre lot, with block and stucco construction, a shingle roof, and central air conditioning. Unit 2225 includes newer flooring and refreshed interior paint. Refrigerators, electric ranges, and dishwashers are included, while a fully enclosed backyard provides shared outdoor space and privacy.
Located in Edgewater, the property is near shopping, restaurants, schools, parks, and major roadways. Each unit offers a private living area with natural light, and driveway parking serves the property. Built in 2002, the duplex may accommodate an owner-occupant arrangement or continued residential rental use.
Located in Edgewater, the property is near shopping, restaurants, schools, parks, and major roadways. Each unit offers a private living area with natural light, and driveway parking serves the property. Built in 2002, the duplex may accommodate an owner-occupant arrangement or continued residential rental use.
Key Highlights
- Duplex with 2 bedrooms and 1 bathroom in each unit
- 1,972 square feet on a 0.22‑acre lot
- Unit 2225 has updated flooring and fresh interior paint
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
$17,299
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
5.26%
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%
$345,980
$346.0K
Cap Rate 7%
$247,129
$247.1K
Cap Rate 9%
$192,211
$192.2K
Market Conditions
NOI Build-Up for 1,972 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
$27.5K $13.92/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$24.7K $12.53/SF
− OpEx
−$7.4K −$3.76/SF
NOI
$17.3K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /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%
$345,980
Cap Rate 7%
$247,129
Cap Rate 9%
$192,211
Alternative Uses
Best Use
Multifamily LT 5
$247.1K
$216.2K – $288.3K
NOI $17,299 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$214.7K
$187.8K – $250.5K
NOI $15,027 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$581.5K
$508.8K – $678.4K
NOI $40,702 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 32141, FL
17,955
Population
9,400
Households
1.9
Avg Household Size
54
Median Age
23%
College-Educated
93%
High-School Grad
23.6 sq mi
ZIP Area
761
Density / Sq Mi
$61,110
Median Household Income
$37,874
Median Earnings
$1,481
Median Rent
$244,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units include private living areas and driveway parking.
Where is this duplex located?
The property is located at 2225 India Palm Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Duplex with 2 bedrooms and 1 bathroom in each unit; 1,972 square feet on a 0.22‑acre lot; Unit 2225 has updated flooring and fresh interior paint
