Duplex With Fenced
For Sale
$540,000
168 Fenimore Lane, Palm Coast, FL 32137
Residential Income, Palm Coast, FL
Property Size2,429 SF
Lot Size0.28 Acres
Price / SF$222.31
Days on Market12
Property Features for 168 Fenimore Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 2
Fencing
Privacy, Fenced
Appliances
Washer, Refrigerator, Electric Water Heater, Electric Range, Electric Oven, Dryer, Dishwasher
Subdivision
Palm Harbor
Directions
I-95 to Exit 293 to Matanzas Parkway to Fenimore Lane
Standard status
Active
APN
07-11-31-7009-00320-0480
Size
2,429 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PALM COAST SECTION 09 BLOCK 00032 LOT 0048 SUBDIVISION COMPLETION YEAR 1978 OR 124 PG 481 OR 409 PG 548
Tax Annual Amount
6884
Legal Description
PALM COAST SECTION 09 BLOCK 00032 LOT 0048 SUBDIVISION COMPLETION YEAR 1978 OR 124 PG 481 OR 409 PG 548
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Separate Meters, Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
Grand Living Realty
(386) 447-0800
Listed By:
Shari Murriello · License #3040005
(561) 762-1828
Added: Sep 21
Changed: Sep 28
Last Checked: Oct 2 at 6:06AM
MLS# 1231114
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2022 duplex contains 2,429 square feet on a 0.28-acre parcel in Palm Coast. Tile flooring runs throughout, with granite countertops in the kitchen and bathrooms. The property includes a dishwasher, washer, and dryer, along with ceiling fans in the living room, patio, and bedrooms. A privacy fence encloses the backyard.
Central heating and air conditioning serve the property, with separate cooling meters. Public water and sewer are available.
Central heating and air conditioning serve the property, with separate cooling meters. Public water and sewer are available.
Key Highlights
- 2,429‑square‑foot duplex built in 2022
- Situated on a 0.28‑acre parcel in Palm Coast
- Tile flooring throughout and granite countertops in the kitchen and bathrooms
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
$28,047
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
5.19%
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%
$560,940
$560.9K
Cap Rate 7%
$400,671
$400.7K
Cap Rate 9%
$311,633
$311.6K
Market Conditions
NOI Build-Up for 2,429 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
$42.3K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$40.1K $16.50/SF
− OpEx
−$12.0K −$4.95/SF
NOI
$28.0K $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%
$560,940
Cap Rate 7%
$400,671
Cap Rate 9%
$311,633
Alternative Uses
Best Use
Multifamily LT 5
$400.7K
$350.6K – $467.5K
NOI $28,047 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$356.0K
$311.5K – $415.3K
NOI $24,918 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$583.7K
$510.8K – $681.0K
NOI $40,860 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
108
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property features tiled interiors, granite countertops, and separate cooling meters.
Where is this duplex located?
The property is located at 168 Fenimore Lane Palm Coast, FL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 2,429‑square‑foot duplex built in 2022; Situated on a 0.28‑acre parcel in Palm Coast; Tile flooring throughout and granite countertops in the kitchen and bathrooms
