New Canal-Front
For Sale
$545,000
45 Providence Ln, Palm Coast, FL 32164
Brand-new duplex with upgraded kitchens, private garages, and direct placement along a freshwater canal.
Property Size2,376 SF
Price / SF$229.38
Days on Market472
Property Features for 45 Providence Ln
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$558
Listing Agency:
APEX REALTY LLC
(386) 986-5053
Listed By:
Elena Tchoumakova · License #3228404
(386) 986-5053
Source:
Exprealty
Added: May 16, 2025
Changed: Aug 29
Last Checked: Aug 29 at 7:35PM
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 APEX REALTY LLC
Investment Insights
Based on property information with market context.
Brand-new duplex offering two 1,185-square-foot residences, each with a one-car garage and attic access. Interior upgrades include 12-foot tray ceilings, luxury vinyl flooring with extra-high baseboards, tile, LED lighting, ceiling fans, and sliding doors with integrated blinds.
Each kitchen includes stainless steel appliances, a refrigerator, 42-inch cabinetry, granite countertops, an island, and an exhaust fan. Both residences feature a master suite with tray ceiling, walk-in closet, and en suite bathroom, along with an instant tankless water heater. The property sits on a freshwater canal, and its two-unit layout can accommodate living in one residence while renting the other.
Each kitchen includes stainless steel appliances, a refrigerator, 42-inch cabinetry, granite countertops, an island, and an exhaust fan. Both residences feature a master suite with tray ceiling, walk-in closet, and en suite bathroom, along with an instant tankless water heater. The property sits on a freshwater canal, and its two-unit layout can accommodate living in one residence while renting the other.
Key Highlights
- Brand‑new duplex on a freshwater canal
- Two 1,185‑square‑foot residences
- Each unit includes a one‑car garage with remote opener and attic access
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
5.03%
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 5.03%
Second Best
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,374 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$571.0K
$499.6K – $666.1K
NOI $39,968 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
105
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 - Brand-new duplex with upgraded kitchens, private garages, and direct placement along a freshwater canal.
Where is this duplex located?
The property is located at 45 Providence Ln Palm Coast, FL.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Brand‑new duplex on a freshwater canal; Two 1,185‑square‑foot residences; Each unit includes a one‑car garage with remote opener and attic access
