Corner-Lot
For Sale
$550,000
Pending
2 RYAPPLE LANE A and B, Palm Coast, FL 32164
Fully leased two-unit property with attached garages, open living areas, and upgraded kitchen finishes.
Property Size3,049 SF
Days on Market558
Property Features for 2 RYAPPLE LANE A and B
General Information
Standard status
Pending
Size
3,049 SF
Total Parking Spaces
4
Property subtype
Multi Family
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$7,782
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
SERHANT
(646) 480-7665
Listed By:
Jocelin Yau · License #3602845
(857) 234-0953
Source:
Exitrealty
Added: Apr 7, 2025
Changed: Sep 2
Last Checked: Sep 15 at 5:12AM
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 SERHANT
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Investment Insights
Based on property information with market context.
Built in 2022, this fully leased duplex places two four-bedroom residences within one corner-lot property. Each unit includes two full bathrooms, more than 1,500 square feet, and an attached two-car garage that can also provide additional storage. Open-concept interiors feature high vaulted ceilings and tile flooring throughout.
The kitchens are finished with quartz countertops, stainless steel appliances, and tiled backsplashes. The property is positioned a short drive from the beach, Palm Coast Corner, US Route 1, and I-95. There are no HOA or CDD fees. The two-unit layout supports multiple ownership and occupancy arrangements, including leasing both residences or occupying one while leasing the other.
The kitchens are finished with quartz countertops, stainless steel appliances, and tiled backsplashes. The property is positioned a short drive from the beach, Palm Coast Corner, US Route 1, and I-95. There are no HOA or CDD fees. The two-unit layout supports multiple ownership and occupancy arrangements, including leasing both residences or occupying one while leasing the other.
Key Highlights
- Fully leased duplex built in 2022
- Each unit offers 4 bedrooms, 2 full bathrooms, and over 1,500 sq. ft.
- Attached 2‑car garage serving each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,206
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,120
$704.1K
Cap Rate 7%
$502,943
$502.9K
Cap Rate 9%
$391,178
$391.2K
Market Conditions
NOI Build-Up for 3,049 SF
Gross rent
$53.1K $17.40/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$50.3K $16.50/SF
− OpEx
−$15.1K −$4.95/SF
NOI
$35.2K $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%
$704,120
Cap Rate 7%
$502,943
Cap Rate 9%
$391,178
Alternative Uses
Best Use
Multifamily LT 5
$502.9K
$440.1K – $586.8K
NOI $35,206 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$446.8K
$391.0K – $521.3K
NOI $31,278 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$732.7K
$641.1K – $854.8K
NOI $51,289 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Fully leased two-unit property with attached garages, open living areas, and upgraded kitchen finishes.
Where is this duplex located?
The property is located at 2 RYAPPLE LANE A and B Palm Coast, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Fully leased duplex built in 2022; Each unit offers 4 bedrooms, 2 full bathrooms, and over 1,500 sq. ft.; Attached 2‑car garage serving each unit
