Duplex with Covered
For Sale
Under Contract
$489,900
48 REGENCY Drive, Palm Coast, FL 32164
Residential Income, PALM COAST, FL
Property Size2,373 SF
Lot Size0.23 Acres
Price / SF$206.45
Days on Market54
Property Features for 48 REGENCY Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
DPX
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 6
Interior features
High Ceilings
Subdivision
PALM COAST SEC 33
Elementary school
Rymfire Elementary
Middle school
Indian Trails Middle-FC
High school
Matanzas High
Directions
From US1 and Royal Palms Pkwy go East to Rymfire, go left, then left on Red Mill and right on Regency Dr.
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active Under Contract
APN
07-11-31-7033-00190-0030
Size
2,373 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 33 BLOCK 00019 LOT 0003 SUBDIVISION COMPLETION YEAR 1981 OR 553 PG 1539OR 561 PG 203
Tax Annual Amount
6270
Legal Description
PALM COAST SECTION 33 BLOCK 00019 LOT 0003 SUBDIVISION COMPLETION YEAR 1981 OR 553 PG 1539OR 561 PG 203
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Building materials
Block
Roof type
Shingle
Listing Agency:
CALNAN REAL ESTATE
(386) 675-1137
Listed By:
Colleen Calnan · License #3173311
(781) 983-4852
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 7 at 7:06PM
MLS# V4950271
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.
Built in 2023, this duplex at 48 Regency Drive comprises two matching residences on a 0.23-acre parcel. Each unit contains 5 rooms, 3 bedrooms, 2 bathrooms, and a deep 1-car garage. The interiors use an open layout with high ceilings, LPV flooring, white shaker cabinetry, center islands, granite countertops, and stainless appliances positioned toward the family rooms.
Both residences include a covered patio oriented toward the rear preserve. Separate electric and water meters serve the units, while public water and public sewer are available. The property is zoned DPX and includes central heating and central air conditioning.
Both residences include a covered patio oriented toward the rear preserve. Separate electric and water meters serve the units, while public water and public sewer are available. The property is zoned DPX and includes central heating and central air conditioning.
Key Highlights
- 2023‑built duplex on a 0.23‑acre parcel
- Each unit offers 3 bedrooms, 2 bathrooms, 5 rooms, and a deep 1‑car garage
- Mirrored interiors with open layouts, high ceilings, LPV flooring, and stainless appliances
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
$27,400
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
5.59%
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%
$548,000
$548.0K
Cap Rate 7%
$391,429
$391.4K
Cap Rate 9%
$304,444
$304.4K
Market Conditions
NOI Build-Up for 2,373 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
$41.3K $17.40/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$39.1K $16.50/SF
− OpEx
−$11.7K −$4.95/SF
NOI
$27.4K $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%
$548,000
Cap Rate 7%
$391,429
Cap Rate 9%
$304,444
Alternative Uses
Best Use
Multifamily LT 5
$391.4K
$342.5K – $456.7K
NOI $27,400 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$347.8K
$304.3K – $405.7K
NOI $24,343 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$570.3K
$499.0K – $665.3K
NOI $39,918 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
68
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 mirrored units feature open layouts, individual garages, and separate electric and water meters.
Where is this duplex located?
The property is located at 48 REGENCY Drive Palm Coast, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2023‑built duplex on a 0.23‑acre parcel; Each unit offers 3 bedrooms, 2 bathrooms, 5 rooms, and a deep 1‑car garage; Mirrored interiors with open layouts, high ceilings, LPV flooring, and stainless appliances
