Palm Coast Duplex Investment
For Sale
$479,000
13 BUTTONWOOD Ln, Palm Coast, FL 32137
Duplex in Palm Coast with rental income potential.
Property Size2,588 SF
Lot Size0.29 Acres
Days on Market274
Property Features for 13 BUTTONWOOD Ln
General Information
Standard status
Active
Size
2,588 SF
Lot size
0.29 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$5,715
Building Details
Building Size
2,588 SF
Year Built
2002
Units
2
Listing Agency:
SUNBURST REALTY GROUP, INC
(386) 931-5392
Listed By:
Jon Pagan
(386) 931-5392
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 28 at 1:01PM
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 SUNBURST REALTY GROUP, INC
Investment Insights
Based on property information with market context.
This property presents an investment opportunity in coastal Palm Coast. It features two units, offering the option for full rental income or owner-occupancy of one unit while renting out the other. One unit is currently rented, while the other is vacant and has new carpet installed as of October 7, 2025. Each unit includes 3 bedrooms and 2 bathrooms, along with a screened-in back patio. Both units have been recently painted and feature new appliances. The carpet in the rented side was replaced prior to the current tenant's occupancy. The roof was replaced in 2021, and both A/C units were replaced in 2022. The property is located close to schools, shopping areas, and the beach.
Key Highlights
- Investment opportunity: Potential for full rental income or owner‑occupancy with rental income from the other unit.
- Updated features: Roof replaced in 2021 and both A/C units replaced in 2022.
- Two units, each with 3 bedrooms and 2 bathrooms.
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
$29,883
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
6.24%
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%
$597,660
$597.7K
Cap Rate 7%
$426,900
$426.9K
Cap Rate 9%
$332,033
$332.0K
Market Conditions
NOI Build-Up for 2,588 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
$45.0K $17.40/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$42.7K $16.50/SF
− OpEx
−$12.8K −$4.95/SF
NOI
$29.9K $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%
$597,660
Cap Rate 7%
$426,900
Cap Rate 9%
$332,033
Alternative Uses
Best Use
Multifamily LT 5
$426.9K
$373.5K – $498.1K
NOI $29,883 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$379.3K
$331.9K – $442.5K
NOI $26,549 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$621.9K
$544.2K – $725.6K
NOI $43,534 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
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 - Duplex in Palm Coast with rental income potential.
Where is this duplex located?
The property is located at 13 BUTTONWOOD Ln Palm Coast, FL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Investment opportunity: Potential for full rental income or owner‑occupancy with rental income from the other unit.; Updated features: **Roof replaced in 2021 and both A/C units replaced in 2022.**; Two units, each with 3 bedrooms and 2 bathrooms.
