Duplex With Newer
For Sale
$465,000
18 Prospect Lane A & B, Palm Coast, FL 32164
Income-producing duplex with two spacious residences, open patios, tiled interiors, and refreshed air-conditioning systems.
Property Size2,622 SF
Price / SF$177.35
Days on Market59
Property Features for 18 Prospect Lane A & B
General Information
Standard status
Active
Size
2,622 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
open patio
garage door opener
Building Details
Year Built
2007
Buildings
1
Listing Agency:
CLARION GROUP, INC.
Listed By:
Karen Radcliff · License #468496
(386) 793-0122
Source:
Bradfordrealestatenetwork
Added: Aug 16
Changed: Sep 13
Last Checked: Oct 5 at 7:51PM
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 CLARION GROUP, INC.
Investment Insights
Based on property information with market context.
Built in 2007, this duplex contains 2,622 square feet with matching residences offering three bedrooms and two full bathrooms per side. Vaulted ceilings and tile flooring create an open interior arrangement, while newer air-conditioning systems support year-round comfort. Each residence also includes an open patio, and a garage door opener adds convenience to the property’s functional design.
Both sides are currently rented, providing an existing occupied configuration for the next owner. The property is located at 18 Prospect Lane A & B in Palm Coast, Florida 32164.
Both sides are currently rented, providing an existing occupied configuration for the next owner. The property is located at 18 Prospect Lane A & B in Palm Coast, Florida 32164.
Key Highlights
- Two‑sided duplex with 3 bedrooms and 2 bathrooms per side
- 2,622 square feet built in 2007
- Both sides are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,275
Cap Rate
6.51%
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 6.51%
Second Best
Apartment 5plus
$384.2K
$336.2K – $448.3K
NOI $26,897 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$630.1K
$551.3K – $735.1K
NOI $44,106 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
104
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with two spacious residences, open patios, tiled interiors, and refreshed air-conditioning systems.
Where is this duplex located?
The property is located at 18 Prospect Lane A & B Palm Coast, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑sided duplex with 3 bedrooms and 2 bathrooms per side; 2,622 square feet built in 2007; Both sides are currently rented
