Contemporary Duplex with Designer
For Sale
$529,900
Pending
43 PONY EXPRESS DRIVE, Palm Coast, FL 32164
Newer duplex with open living areas, upgraded interiors, stainless steel appliances, and enhanced insulation between residences.
Property Size2,596 SF
Days on Market901
Property Features for 43 PONY EXPRESS DRIVE
General Information
Standard status
Pending
Size
2,596 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$548
Building Details
Year Built
2023
Listing Agency:
Realty Associates
(832) 715-9376
Listed By:
Morgan Porter · License #0591122
(832) 715-9376
Source:
Exitrealty
Added: Mar 14, 2024
Changed: Aug 30
Last Checked: Aug 30 at 5:56PM
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 Realty Associates
Investment Insights
Based on property information with market context.
Completed in 2023, this 2,596-square-foot duplex features a contemporary design with an open arrangement connecting the living, dining, and kitchen areas. Natural light enters the interiors, while additional insulation was incorporated between the residences for improved separation. Exterior stone accents complement the overall presentation.
Interior specifications include granite surfaces, soft-close cabinetry, subway tile backsplashes, stainless steel appliances, upgraded lighting, Moen plumbing fixtures, and floor-to-ceiling Carrara-look tile in the bathrooms. Design selections were made with the involvement of a certified interior designer. The property is located at 43 Pony Express Drive in Palm Coast, Florida.
Interior specifications include granite surfaces, soft-close cabinetry, subway tile backsplashes, stainless steel appliances, upgraded lighting, Moen plumbing fixtures, and floor-to-ceiling Carrara-look tile in the bathrooms. Design selections were made with the involvement of a certified interior designer. The property is located at 43 Pony Express Drive in Palm Coast, Florida.
Key Highlights
- Duplex completed in 2023
- 2,596 square feet of building area
- Open‑concept living, dining, and kitchen arrangement
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
$29,975
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
5.66%
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%
$599,500
$599.5K
Cap Rate 7%
$428,214
$428.2K
Cap Rate 9%
$333,056
$333.1K
Market Conditions
NOI Build-Up for 2,596 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
$45.2K $17.40/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$42.8K $16.50/SF
− OpEx
−$12.8K −$4.95/SF
NOI
$30.0K $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%
$599,500
Cap Rate 7%
$428,214
Cap Rate 9%
$333,056
Alternative Uses
Best Use
Multifamily LT 5
$428.2K
$374.7K – $499.6K
NOI $29,975 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$380.4K
$332.9K – $443.9K
NOI $26,631 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$623.8K
$545.9K – $727.8K
NOI $43,669 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
107
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 - Newer duplex with open living areas, upgraded interiors, stainless steel appliances, and enhanced insulation between residences.
Where is this duplex located?
The property is located at 43 PONY EXPRESS DRIVE Palm Coast, FL.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Duplex completed in 2023; 2,596 square feet of building area; Open‑concept living, dining, and kitchen arrangement
