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 Market14
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.
(386) 793-0122
Listed By:
Karen Radcliff · License #468496
Source:
Bradfordrealestatenetwork
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 28 at 12:56PM
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 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 = 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
$30,275
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
6.51%
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%
$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
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
$45.6K $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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
