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 Market178
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
(386) 213-6899
Listed By:
Albert Amalfitano · License #SL3336509
(386) 213-6899
Source:
Exprealty
Added: Mar 4
Changed: Aug 25
Last Checked: Aug 28 at 5:40PM
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 = 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
$14,176
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
4.05%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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.
