Turnkey Duplex with Private
For Sale
$559,000
2518 Fern Palm Drive, Edgewater, FL 32141
MULTI_FAMILY - Edgewater, FL
Property Size3,006 SF
Lot Size0.28 Acres
Price / SF$185.96
Days on Market14
Property Features for 2518 Fern Palm Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 5
Parking features
RV, Garage
Exterior features
Impact Windows
Appliances
Refrigerator, Electric Range, Dishwasher
Subdivision
Florida Shores
Lot features
Cleared
Directions
From I-95 take Exit 244 and Go East on on FL-442 E/Indian River Blvd.; Turn Right onto Guava Dr.; Turn Left onto 22nd St.; Turn right onto Fern Palm Dr.
Standard status
Active
APN
840201065680
Size
3,006 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8124
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
vaulted ceilings
luxury vinyl plank flooring
granite countertops
white shaker cabinetry
stainless steel appliances
kitchen islands
interior laundry rooms
covered rear lanais
central air conditioning
private backyards
Building Details
Year built
2021
Number of units
2
Flooring type
Carpet, Tile
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
Keller Williams Realty Florida Partners
(386) 944-2800
Listed By:
Mike Bretzel
(386) 631-5757
Added: Jul 22
Changed: Jul 23
Last Checked: Aug 4 at 2:06AM
MLS# 1228946
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.
Built in 2021, this fully occupied duplex is configured as two separate residential units. Each unit includes 3 bedrooms and 2 bathrooms, an oversized one-car garage, vaulted ceilings, interior laundry, and central air conditioning. Interior finishes include luxury vinyl plank flooring in main living areas, granite countertops, white shaker cabinetry, and spacious kitchen islands with stainless steel appliances. Each unit also features a covered rear lanai, generous primary suite with dual vanities and a walk-in shower, and a private backyard that overlooks a wooded setting.
The property sits on an oversized 120' x 100' lot and is separately metered for electric and water, with tenants paying their own utilities. The duplex is located in Edgewater, with convenient access to shopping, dining, parks, the Indian River, public boat ramps, and the beaches of New Smyrna.
The listing is presented as turnkey with long-term tenants already in place and each unit separately metered for utilities.
The property sits on an oversized 120' x 100' lot and is separately metered for electric and water, with tenants paying their own utilities. The duplex is located in Edgewater, with convenient access to shopping, dining, parks, the Indian River, public boat ramps, and the beaches of New Smyrna.
The listing is presented as turnkey with long-term tenants already in place and each unit separately metered for utilities.
Key Highlights
- Duplex built in 2021 with 2 units, each offering 3 bedrooms and 2 bathrooms
- Generates $3,850/month in gross rental income with two long‑term tenants reported as fully occupied
- Central heat and central A/C; each unit separately metered for electric and water with tenants paying utilities
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.8k | $13.92 |
| − Vacancy | −$4.2k | −$1.39 |
| EGI | $37.7k | $12.53 |
| − OpEx | −$11.3k | −$3.76 |
| NOI | $26.4k | $8.77 |
3,006 SF · lease $13.92/SF/yr · vacancy 9.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$376.7K
$329.6K – $439.5K
NOI $26,370 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$327.2K
$286.3K – $381.8K
NOI $22,906 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$886.3K
$775.6K – $1.03M
NOI $62,044 @ 7.0% cap · market cap 11.10%
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
277
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
Market
Properties on Market for Duplexes in Volusia County
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 2021, fully occupied duplex offers two separate 3-bedroom units with private backyards and separate utilities.
Where is this duplex located?
The property is located at 2518 Fern Palm Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Duplex built in 2021 with 2 units, each offering 3 bedrooms and 2 bathrooms; Generates $3,850/month in gross rental income with two long‑term tenants reported as fully occupied; Central heat and central A/C; each unit separately metered for electric and water with tenants paying utilities
