Palm Coast Duplex For
For Sale
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129 Wellwood Ln, Palm Coast, FL 32164
2022 duplex in Palm Coast with strong rental history.
Property Size3,284 SF
Price / SF$158.31
Days on Market161
Property Features for 129 Wellwood Ln
General Information
Standard status
Active
Size
3,284 SF
Class
B
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$31,647
Building Details
Year Built
2022
Buildings
1
Stories
1
Units
2
Listing Agency:
The Multifamily Advisors
(352) 514-4725
Listed By:
Joe Klenck · License #FLSL3555950
Source:
Crexi
Added: Mar 4
Changed: Aug 8
Last Checked: Jul 19 at 5:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Multifamily Advisors
Investment Insights
Based on property information with market context.
Located in Palm Coast, Florida, this duplex, constructed in 2022 with concrete block and stucco, offers benefits of a coastal area with rental demand. Both units feature 3 bedrooms and 2 bathrooms. Unit B is currently vacant and available for immediate move-in. Unit A is on a month-to-month lease and is open to renewal for another year. Each unit includes a 1-car garage, granite countertops, stainless steel appliances, luxury vinyl plank flooring, washer and dryer connections, a spacious living room and bedrooms with closet space, a large backyard, and private patio areas. The water heaters, HVAC systems, and roof are less than 4 years old. The property is located 15 minutes from Flagler Beach and has no HOA. The property size is 3284 square feet.
Key Highlights
- 2022 Construction: Modern duplex built with concrete block/stucco.
- Strong Rental History/Demand: Located in Palm Coast, Florida, a desirable coastal area.
- Two 3‑Bedroom/2‑Bathroom Units: Ideal for renting or living in one unit and renting the other.
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
$37,919
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
7.29%
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%
$758,380
$758.4K
Cap Rate 7%
$541,700
$541.7K
Cap Rate 9%
$421,322
$421.3K
Market Conditions
NOI Build-Up for 3,284 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
$57.1K $17.40/SF
− Vacancy
−$3.0K −$0.90/SF
EGI
$54.2K $16.50/SF
− OpEx
−$16.3K −$4.95/SF
NOI
$37.9K $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%
$758,380
Cap Rate 7%
$541,700
Cap Rate 9%
$421,322
Alternative Uses
Best Use
Multifamily LT 5
$541.7K
$474.0K – $632.0K
NOI $37,919 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$481.3K
$421.1K – $561.5K
NOI $33,689 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$789.2K
$690.5K – $920.7K
NOI $55,242 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
639
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 - 2022 duplex in Palm Coast with strong rental history.
Where is this duplex located?
The property is located at 129 Wellwood Ln Palm Coast, FL.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: 2022 Construction: Modern duplex built with concrete block/stucco.; Strong Rental History/Demand: Located in Palm Coast, Florida, a desirable coastal area.; Two 3‑Bedroom/2‑Bathroom Units: Ideal for renting or living in one unit and renting the other.
