Palm Coast Duplex on
2 RAINBOW LANE, Palm Coast, FL 32164
- Added:
- Dec 28, 2024
- Days on Market:
- 511
- Last Refresh:
- May 22 at 11:06 pm
Property Features for 2 RAINBOW LANE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Property condition
- New Construction
- Zoning
- DPX
- Bedrooms
- 6
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Garage, Garage - Attached
- Interior features
- Ceiling Fans(s), High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Solid Surface Counters, Tray Ceiling(s), Walk-in Closet(s)
- Exterior features
- Corner Lot, Sliding Doors
- Appliances
- Dishwasher, Garbage Disposer, Microwave, Range, Refrigerator, Washer
- Standard status
- Pending
- APN
- 07-11-31-7030-00250-0160
- Size
- 2,377 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 815
Utilities
- Heating system
- Central, Electric (Heating), Heat Pump (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2024
- Number of units
- 2
- Building materials
- Block, Concrete
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Elena Tchoumakova License #3228404 (386) 986-5053
Listing office APEX REALTY LLC 4877 Palm Coast Pkwy NW #2, Palm Coast, FL (386) 986-5053
Listing date Dec 28, 2024
MLS# FC306059
Listing URL
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Excellent investment opportunity: Ideal for 1031 Exchange, living on one side and renting the other, or accommodating larger families.
- New construction by Blue Crown Construction on a corner lot with separate entrances for each unit.
- Upgraded kitchens: SS appliances including refrigerators, 42‑inch cabinets, granite countertops, and kitchen island.
- Each unit features 1185 sq ft of living space, a one‑car garage with remote opener and attic access.
- Luxury features: 12 ft. Trey ceilings, luxury vinyl waterproof flooring, and sliding doors with blinds.
- Master suite: Trey ceiling, walk‑in closet, and in‑suite bathroom.
Overview
This duplex, constructed by Blue Crown Construction, is situated on a corner lot, providing separate entrances for each unit. The property features numerous upgrades, including 12 ft. trey ceilings, luxury vinyl waterproof flooring with extra-high baseboards, tile, and an upgraded kitchen equipped with stainless steel appliances, including refrigerators, 42-inch cabinets, granite countertops, and a kitchen island. Sliding doors with blinds are installed to minimize dust. Each unit is equipped with ceiling fans and LED light fixtures. The garage floors are painted, and each unit includes a one-car garage with a remote opener and access to the attic. Each unit offers 1185 square feet of living space. The master suite features a trey ceiling, a walk-in closet, and an en-suite bathroom. Additional features include an instant tankless water heater and a kitchen exhaust fan. This property is suitable for investment, a 1031 exchange, or for accommodating larger families, with the option to live on one side and rent out the other. The property size is 2377 square feet and the lot size is 0.29 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$305.0K
NOI $27,446 @ 9.00% cap · cautious / downside scenario
Moderate
$392.1K
NOI $27,446 @ 7.00% cap · market / base-case scenario
Aggressive
$548.9K
NOI $27,446 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.4k | $17.40 |
| − Vacancy | −$2.2k | −$0.90 |
| EGI | $39.2k | $16.50 |
| − OpEx | −$11.8k | −$4.95 |
| NOI | $27.4k | $11.55 |
2,377 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$392.1K
$343.1K – $457.4K
NOI $27,446 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$348.3K
$304.8K – $406.4K
NOI $24,384 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$571.2K
$499.8K – $666.4K
NOI $39,985 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Palm Coast
- County
- Flagler
- State
- Florida
- Longitude
- -81.223858
- Latitude
- 29.511997
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Corner lot duplex with upgrades, ideal for investment or family.
Where is this duplex located?
The property is located at 2 RAINBOW 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: Excellent investment opportunity: Ideal for 1031 Exchange, living on one side and renting the other, or accommodating larger families.; New construction by Blue Crown Construction on a corner lot with separate entrances for each unit.; Upgraded kitchens: SS appliances including refrigerators, 42‑inch cabinets, granite countertops, and kitchen island.
