Duplex with Two-Car
For Sale
$565,000
Pending
1 WHEEL PLACE, Palm Coast, FL 32164
Tenant-occupied property offers two separately configured residences with private outdoor areas and direct access to attached garages.
Property Size2,622 SF
Lot Size0.33 Acres
Days on Market912
Property Features for 1 WHEEL PLACE
General Information
Standard status
Pending
Size
2,622 SF
Total Parking Spaces
4
Lot size
0.33 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$842
Building Details
Year Built
2023
Buildings
1
Listing Agency:
WATSON REALTY CORP
(386) 246-9222
Listed By:
Carol Carroll · License #3530074
(386) 290-0613
Source:
Exitrealty
Added: Apr 18, 2024
Changed: Oct 1
Last Checked: Oct 14 at 10:05PM
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 WATSON REALTY CORP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains 2,622 SF across two fully firewall-separated residences. Each unit provides 1,311 SF of living space, an open living area with cathedral ceilings ranging from 10'-13', recessed lighting, three bedrooms, two bathrooms, a kitchen with quartz countertops and tile backsplash, and a 158 SF covered, tiled lanai. Each side also includes a 499 SF two-car garage with an electric opener, pull-down attic stairs, epoxy-coated flooring, and Samsung washer and dryer. Interior details include eight-foot doors, ten-foot ceilings, ceiling fans throughout, a tray ceiling in the primary bedroom, and tiled bath surrounds with glass shower enclosure in the primary suite.
Key Highlights
- 2,622 SF duplex on a 14,258 SF lot (.33 Acres)
- Two 1,311 SF units, each with a 499 SF two‑car garage
- Both units currently tenant‑occupied under 6‑12 month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,275
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,500
$605.5K
Cap Rate 7%
$432,500
$432.5K
Cap Rate 9%
$336,389
$336.4K
Market Conditions
NOI Build-Up for 2,622 SF
Gross rent
$45.6K $17.40/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$43.3K $16.50/SF
− OpEx
−$13.0K −$4.95/SF
NOI
$30.3K $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 Rate 5%
$605,500
Cap Rate 7%
$432,500
Cap Rate 9%
$336,389
Alternative Uses
Best Use
Multifamily LT 5
$432.5K
$378.4K – $504.6K
NOI $30,275 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$384.2K
$336.2K – $448.3K
NOI $26,897 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$630.1K
$551.3K – $735.1K
NOI $44,106 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
67
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied property offers two separately configured residences with private outdoor areas and direct access to attached garages.
Where is this duplex located?
The property is located at 1 WHEEL PLACE Palm Coast, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,622 SF duplex on a 14,258 SF lot (.33 Acres); Two 1,311 SF units, each with a 499 SF two‑car garage; Both units currently tenant‑occupied under 6‑12 month leases
