Updated Duplex with Private
For Sale
$519,000
36 CORAL REEF N COURT A/B, Palm Coast, FL 32137
Two separate residences offer private access, garages, and shared backyard space near coastal recreation.
Property Size2,272 SF
Price / SF$228.43
Days on Market817
Property Features for 36 CORAL REEF N COURT A/B
General Information
Standard status
Active
Size
2,272 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,977
Building Details
Year Built
1988
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICE
(954) 464-7345
Listed By:
Joyce Casis · License #3577120
(954) 464-7345
Source:
Exitrealty
Added: Jun 6, 2024
Changed: Aug 31
Last Checked: Aug 31 at 3:34PM
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 BERKSHIRE HATHAWAY HOMESERVICE
Investment Insights
Based on property information with market context.
This duplex contains two independently accessed residences, each with its own garage and use of a spacious backyard. The property has been updated with energy-efficient windows, refreshed exterior paint, updated A/C units, newer water heaters, and a well-maintained roof. Built in 1988, the building is currently active on Airbnb and has an established rental history.
Located at 36 Coral Reef N Court A/B in Palm Coast, the property sits across the street from canal-front homes in the C section of Palm Harbor. The surrounding area includes saltwater canals with boat access to the Intracoastal, while Jungle Hut Beach is 3.5 miles away. The marina, golf, parks, and local shops are also within the nearby area. No HOA or CDD is associated with the property.
Located at 36 Coral Reef N Court A/B in Palm Coast, the property sits across the street from canal-front homes in the C section of Palm Harbor. The surrounding area includes saltwater canals with boat access to the Intracoastal, while Jungle Hut Beach is 3.5 miles away. The marina, golf, parks, and local shops are also within the nearby area. No HOA or CDD is associated with the property.
Key Highlights
- Two‑unit duplex at 36 Coral Reef N Court A/B, Palm Coast, FL 32137
- Built in 1988 with 2,272 square feet
- Each side has a private entrance and dedicated garage
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
$26,234
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
5.05%
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%
$524,680
$524.7K
Cap Rate 7%
$374,771
$374.8K
Cap Rate 9%
$291,489
$291.5K
Market Conditions
NOI Build-Up for 2,272 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
$39.5K $17.40/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$37.5K $16.50/SF
− OpEx
−$11.2K −$4.95/SF
NOI
$26.2K $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%
$524,680
Cap Rate 7%
$374,771
Cap Rate 9%
$291,489
Alternative Uses
Best Use
Multifamily LT 5
$374.8K
$327.9K – $437.2K
NOI $26,234 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$333.0K
$291.3K – $388.5K
NOI $23,307 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$546.0K
$477.7K – $637.0K
NOI $38,219 @ 7.0% cap · market cap 7.36%
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
253
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 - Two separate residences offer private access, garages, and shared backyard space near coastal recreation.
Where is this duplex located?
The property is located at 36 CORAL REEF N COURT A/B Palm Coast, FL.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two‑unit duplex at 36 Coral Reef N Court A/B, Palm Coast, FL 32137; Built in 1988 with 2,272 square feet; Each side has a private entrance and dedicated garage
