Duplex with Covered
For Sale
Under Contract
$489,900
48 Regency Drive, Palm Coast, FL 32164
Residential Income, Palm Coast, FL
Property Size2,376 SF
Lot Size0.23 Acres
Price / SF$206.19
Days on Market54
Property Features for 48 Regency Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 4
Parking features
Open, Off Street, Garage
Appliances
Refrigerator, Microwave, Electric Range, Dishwasher
Subdivision
Not In Subdivision
Lot features
Drainage Canal
Elementary school
Rymfire
Middle school
Indian Trails
High school
Matanzas
Directions
From US1 and Royal Palms Pkwy go East to Rymfire, go left, then left on Red Mill and right on Regency Dr.
Standard status
Active Under Contract
APN
07-11-31-7033-00190-0030
Size
2,376 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
Amenities
covered patio
Building Details
Year built
2023
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Calnan Real Estate
(386) 675-1137
Listed By:
Colleen Calnan · License #3173311
(386) 675-1136
Added: Jul 16
Changed: Aug 31
Last Checked: Sep 7 at 5:06PM
MLS# 1228718
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 2023, this duplex contains 2,376 square feet on a 0.23-acre parcel. The concrete-block property includes two matching residences, each with five rooms, three bedrooms, two bathrooms, and a deep one-car garage. Both units feature open living areas with high ceilings, white shaker cabinetry, center islands, granite countertops, stainless appliances, and LPV flooring. Central heating and central air serve the interiors, while shingle roofing and public sewer support the property’s core infrastructure.
Each residence has its own covered patio oriented toward the rear preserve, along with separate electric and water meters. Appliances include refrigerators, microwaves, electric ranges, and dishwashers. Parking includes garage, off-street, and open spaces.
Each residence has its own covered patio oriented toward the rear preserve, along with separate electric and water meters. Appliances include refrigerators, microwaves, electric ranges, and dishwashers. Parking includes garage, off-street, and open spaces.
Key Highlights
- 2023‑built duplex with 2,376 square feet on 0.23 acres
- Two matching units, each with 5 rooms, 3 bedrooms, and 2 bathrooms
- Each residence includes a deep 1‑car garage and covered rear patio
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
$27,435
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
5.60%
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%
$548,700
$548.7K
Cap Rate 7%
$391,929
$391.9K
Cap Rate 9%
$304,833
$304.8K
Market Conditions
NOI Build-Up for 2,376 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
$39.2K $16.50/SF
− OpEx
−$11.8K −$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%
$548,700
Cap Rate 7%
$391,929
Cap Rate 9%
$304,833
Alternative Uses
Best Use
Multifamily LT 5
$391.9K
$342.9K – $457.3K
NOI $27,435 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,374 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$571.0K
$499.6K – $666.1K
NOI $39,968 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer open layouts, private outdoor spaces, attached garages, and individually metered utilities.
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 with 2,376 square feet on 0.23 acres; Two matching units, each with 5 rooms, 3 bedrooms, and 2 bathrooms; Each residence includes a deep 1‑car garage and covered rear patio
