Edgewater Duplex: Investment
For Sale
$350,000
Pending
1930 Fern Palm Dr, Edgewater, FL 32141
Full duplex in Edgewater with income potential and oversized lot.
Property Size1,616 SF
Days on Market223
Property Features for 1930 Fern Palm Dr
General Information
Standard status
Pending
Size
1,616 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,202
Listing Agency:
Engel & Voelkers New Smyrna Beach
Listed By:
Albert Amalfitano · License #3336509
(386) 213-6899
Source:
Exprealty
Added: Mar 4
Changed: Oct 6
Last Checked: Oct 13 at 2:18AM
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 Engel & Voelkers New Smyrna Beach
Investment Insights
Based on property information with market context.
Located at 1930 & 1932 Fern Palm Dr in Edgewater, this full duplex presents an opportunity for investors, multi-generational living, or owner-occupancy with rental income. The property has short-term rental zoning potential and an oversized triple lot. Each unit features an updated kitchen, living room, and two en suite bedrooms. Tile floors are installed throughout both units. The property includes extra outdoor space, with room to add carports, a play area, entertaining space, or even a pool. The roof was replaced in 2018. The AC unit for the 1932 unit was replaced in 2018, and the AC unit for the 1930 unit was replaced in 2020. Appliances were updated in 2024. The water heater for the 1932 unit was replaced in 2021, and the water heater for the 1930 unit was replaced in 2023. This Edgewater duplex is suitable for building a portfolio, generating flexible income, or exploring a live-in investment strategy.
Key Highlights
- Full duplex offers income potential, multi‑generational living, or live‑in investment strategy.
- Oversized triple lot provides ample space for expansion.
- Short‑term rental zoning potential increases income opportunities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,176
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,520
$283.5K
Cap Rate 7%
$202,514
$202.5K
Cap Rate 9%
$157,511
$157.5K
Market Conditions
NOI Build-Up for 1,616 SF
Gross rent
$22.5K $13.92/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$20.3K $12.53/SF
− OpEx
−$6.1K −$3.76/SF
NOI
$14.2K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,520
Cap Rate 7%
$202,514
Cap Rate 9%
$157,511
Alternative Uses
Best Use
Multifamily LT 5
$202.5K
$177.2K – $236.3K
NOI $14,176 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$175.9K
$153.9K – $205.2K
NOI $12,314 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$476.5K
$416.9K – $555.9K
NOI $33,354 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 32141, FL
17,955
Population
9,400
Households
1.9
Avg Household Size
54
Median Age
23%
College-Educated
93%
High-School Grad
23.6 sq mi
ZIP Area
761
Density / Sq Mi
$61,110
Median Household Income
$37,874
Median Earnings
$1,481
Median Rent
$244,000
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 - Full duplex in Edgewater with income potential and oversized lot.
Where is this duplex located?
The property is located at 1930 Fern Palm Dr Edgewater, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Full duplex offers income potential, multi‑generational living, or live‑in investment strategy.; Oversized triple lot provides ample space for expansion.; Short‑term rental zoning potential increases income opportunities.
