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    New Duplex on Freshwater Canal Title is generated by Realmo AI

    45 PROVIDENCE LANE, Palm Coast, FL 32164

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    For Sale
    $545,000

    Duplex - PALM COAST, FL

    Type:Duplex
    Property size:
    2,376 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $229/SF
    Added:
    May 14, 2025
    Days on Market:
    389
    Last Refresh:
    Jun 6 at 3:06 am

    Property Features for 45 PROVIDENCE LANE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Property condition
    New Construction
    Zoning
    DPX
    Bedrooms
    6
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Garage, Garage - Attached
    Interior features
    Kitchen/Family Room Combo, Open Floorplan, Solid Surface Counters, Tray Ceiling(s), Walk-in Closet(s)
    Exterior features
    Sliding Doors
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    07-11-31-7024-00540-0250
    Size
    2,376 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    558

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water front features
    Canal - Freshwater, Waterfront
    Water front
    1

    Building Details

    Year built
    2025
    Number of units
    2
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Elena Tchoumakova
    Elena Tchoumakova

    Listing agent Elena Tchoumakova License #3228404

    Listing office APEX REALTY LLC 4877 Palm Coast Pkwy NW #2, Palm Coast, FL

    Listing date May 14, 2025

    MLS# FC309822 Listing URL

    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.

    HighLights

    • Brand new duplex on a freshwater canal.
    • Excellent investment opportunity or multi‑generational living.
    • Upgraded kitchen with stainless steel appliances, granite countertops, and 42‑inch cabinets.
    • Luxury vinyl waterproof flooring and high baseboards throughout.
    • Each unit has a one‑car garage with remote opener and attic access.
    • Master suite with tray ceiling, walk‑in closet, and in‑suite bathroom.

    Overview

    This brand new duplex is located on a freshwater canal. The property features many upgrades, including 12 ft. trey ceilings and luxury vinyl waterproof flooring with extra high baseboards. The kitchens are upgraded with stainless steel appliances including refrigerators, 42-inch cabinets, granite countertops, and a kitchen island. Sliding doors with blinds are installed to reduce dust. Each unit includes ceiling fans and LED light fixtures, as well as painted flooring in the one-car garage, which has a remote opener and access to the attic. Each unit has 1185 square feet. The master suite features a trey ceiling, walk-in closet, and in-suite bathroom. Additional features include an instant (tankless) water heater and a kitchen exhaust fan. The property is located in Palm Coast, FL, on a lot of 0.23 acres. The total property size is 2376 square feet. This property presents an excellent investment opportunity, suitable for a 1031 Exchange, or for living on one side and renting the other. It is also suitable for larger families. The property is zoned DPX.

    Local 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 $41.3k $17.40
    − Vacancy −$2.1k −$0.90
    EGI $39.2k $16.50
    − OpEx −$11.8k −$4.95
    NOI $27.4k $11.55
    2,376 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $391.9K
    $342.9K – $457.3K (±1% cap)
    NOI $27,435 @ 7.0% cap · market cap 5.03%
    Second Best
    Apartment 5plus
    $348.2K
    $304.7K – $406.2K (±1% cap)
    NOI $24,374 @ 7.0% cap · market cap 4.47%
    Theoretical Best
    Office A
    $571.0K
    $499.6K – $666.1K (±1% cap)
    NOI $39,968 @ 7.0% cap · market cap 7.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Coast
    County
    Flagler
    State
    Florida
    Longitude
    -81.223901
    Latitude
    29.527833

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    FAQs

    What type of property is this?
    Duplex - Brand new duplex with upgrades, ideal for investment or living.
    Where is this duplex located?
    The property is located at 45 PROVIDENCE LANE Palm Coast, FL.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: Brand new duplex on a freshwater canal.; Excellent investment opportunity or multi‑generational living.; Upgraded kitchen with stainless steel appliances, granite countertops, and 42‑inch cabinets.
    (386) 986-5053
    We can help!
    Listing Contact
    Elena Tchoumakova
    Elena Tchoumakova
    Real Estate License ID: 3228404
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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