Remodeled Duplex with New
For Sale
$469,000
8 Slatington Place A & B, Palm Coast, FL 32164
Two-unit residential property with updated kitchens, appliances, roofing, HVAC, and exterior finishes.
Property Size2,477 SF
Price / SF$189.34
Days on Market561
Property Features for 8 Slatington Place A & B
General Information
Standard status
Active
Size
2,477 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,349
Building Details
Year Built
2005
Listing Agency:
Worth Clark Realty
(386) 864-3337
Listed By:
Richard Hoover · License #3561787
(386) 864-3337
Source:
Exitrealty
Added: Feb 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:00PM
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 Worth Clark Realty
Investment Insights
Based on property information with market context.
This two-unit residential property in Palm Coast, Florida, offers 2,477 square feet across a duplex configuration built in 2005. Both residences received substantial interior updates, including new stone countertops, cabinetry, and stainless steel appliance packages. The property also includes recently installed roof and HVAC systems, along with newly painted exterior surfaces.
The duplex is positioned for either owner occupancy with a separate unit or use as a two-unit residential income property. Its improvements combine refreshed interior finishes with updated major building systems, providing a cohesive renovated presentation across both units.
The duplex is positioned for either owner occupancy with a separate unit or use as a two-unit residential income property. Its improvements combine refreshed interior finishes with updated major building systems, providing a cohesive renovated presentation across both units.
Key Highlights
- 2,477‑square‑foot duplex built in 2005
- Both units feature new stone countertops, cabinetry, and stainless steel appliances
- Recently installed roof and HVAC systems
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
$28,601
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
6.10%
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%
$572,020
$572.0K
Cap Rate 7%
$408,586
$408.6K
Cap Rate 9%
$317,789
$317.8K
Market Conditions
NOI Build-Up for 2,477 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
$43.1K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$40.9K $16.50/SF
− OpEx
−$12.3K −$4.95/SF
NOI
$28.6K $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%
$572,020
Cap Rate 7%
$408,586
Cap Rate 9%
$317,789
Alternative Uses
Best Use
Multifamily LT 5
$408.6K
$357.5K – $476.7K
NOI $28,601 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$363.0K
$317.6K – $423.5K
NOI $25,410 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$595.2K
$520.8K – $694.5K
NOI $41,667 @ 7.0% cap · market cap 8.88%
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
35
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-unit residential property with updated kitchens, appliances, roofing, HVAC, and exterior finishes.
Where is this duplex located?
The property is located at 8 Slatington Place A & B Palm Coast, FL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 2,477‑square‑foot duplex built in 2005; Both units feature new stone countertops, cabinetry, and stainless steel appliances; Recently installed roof and HVAC systems
