Under-Construction
For Sale
Under Contract
$649,900
86 EMERSON Drive, Palm Coast, FL 32164
Residential Income, PALM COAST, FL
Property Size3,087 SF
Lot Size0.23 Acres
Price / SF$210.53
Days on Market98
Property Features for 86 EMERSON Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
DPX
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 4, Laundry Room, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 2
Interior features
High Ceilings
Exterior features
Sliding Doors
Appliances
Dishwasher, Disposal, Range, Refrigerator
Subdivision
PALM COAST/EASTHAMPTON SEC 34
Directions
From Belle Terre turn onto Easthampton Boulevard, turn right on to Emerson Dr
Standard status
Active Under Contract
APN
07-11-31-7034-00020-0050
Size
3,087 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 34 BLOCK 00002 LOT 0005 SUBDIVISION COMPLETION YEAR 1982 OR 465 PG 1899 OR 2301/1605
Tax Annual Amount
9671
Legal Description
PALM COAST SECTION 34 BLOCK 00002 LOT 0005 SUBDIVISION COMPLETION YEAR 1982 OR 465 PG 1899 OR 2301/1605
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Building materials
Block
Roof type
Shingle
Listing Agency:
APEX REALTY LLC
(386) 986-5053
Listed By:
Elena Tchoumakova · License #3228404
(386) 986-5053
Added: May 25
Changed: Aug 20
Last Checked: Aug 30 at 10:06AM
MLS# FC318883
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.
This 2024 duplex is under construction and contains two separate residences, each with 3 bedrooms, 2 bathrooms, and a 2-car garage. The combined property includes 6 bedrooms and 4 bathrooms. Interior features include high ceilings, solid interior doors, stainless steel appliances, quartz countertops, tiled backsplashes, ceiling fans, and abundant natural light. Block construction, shingle roofing, electric central heating, central air, public water, and public sewer are specified.
The property occupies 0.23 acres in Palm Coast, with Publix, Town Center, shopping, and restaurants described as minutes away. Flagler Beach is approximately a 15-minute drive. DPX zoning applies to the property.
The property occupies 0.23 acres in Palm Coast, with Publix, Town Center, shopping, and restaurants described as minutes away. Flagler Beach is approximately a 15-minute drive. DPX zoning applies to the property.
Key Highlights
- Two‑unit duplex with 6 total bedrooms and 4 total bathrooms
- Each side includes 3 bedrooms, 2 bathrooms, and a 2‑car garage
- 2024 construction with block exterior and shingle roof
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
$35,644
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
5.48%
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%
$712,880
$712.9K
Cap Rate 7%
$509,200
$509.2K
Cap Rate 9%
$396,044
$396.0K
Market Conditions
NOI Build-Up for 3,087 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
$53.7K $17.40/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$50.9K $16.50/SF
− OpEx
−$15.3K −$4.95/SF
NOI
$35.6K $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%
$712,880
Cap Rate 7%
$509,200
Cap Rate 9%
$396,044
Alternative Uses
Best Use
Multifamily LT 5
$509.2K
$445.6K – $594.1K
NOI $35,644 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$452.4K
$395.9K – $527.8K
NOI $31,668 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$741.8K
$649.1K – $865.5K
NOI $51,928 @ 7.0% cap · market cap 7.99%
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
177
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 residential units offer modern finishes, private garages, and separate living spaces in Palm Coast.
Where is this duplex located?
The property is located at 86 EMERSON Drive Palm Coast, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex with 6 total bedrooms and 4 total bathrooms; Each side includes 3 bedrooms, 2 bathrooms, and a 2‑car garage; 2024 construction with block exterior and shingle roof
