Updated Duplex with Two 3BR
For Sale
$509,900
210 ULLIAN TRAIL, Palm Coast, FL 32164
An updated duplex offering two spacious 3-bedroom, 2-bath units with multiple recent exterior and mechanical improvements.
Property Size2,484 SF
Price / SF$205.27
Days on Market20
Property Features for 210 ULLIAN TRAIL
General Information
Standard status
Active
Size
2,484 SF
Property subtype
Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
screened-in porch
storage shed
sprinkler system
white vinyl privacy fencing
extended driveway
walk-in closets
vaulted ceilings
0.23 acres, Dimensions: 80x125
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 07-11-31-7057-00750-0250, Public Survey Range: 31, Public Survey Section: 07, Annual Amount: $3,642, Tax Block: 75, Tax Book Number: na, Legal Description: PALM COAST SEC 57 BLK 75 LOT 25 AND THE SLY 2.5' OF LT 26 OR 101/400 OR 900/944 OR 951/1086-CD OR 987/1202 OR 1419/1939 OR 1445/257-CD OR 1848/468 OR 1848/484, Lot: 25, Year: 2025, Zoning: DPX
2 spaces
Central Air
Central
Laundry Room
Listing ID: MFRFC320103, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-07-22, 15 days on market, Special Conditions: None
6 total bedrooms
Built in 2004, Living area: 2484, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco
Subdivision: PALM COAST SEC 57, MLS Area (Major): 32164 - Palm Coast, County/Parish: Flagler
4 total bathrooms
Cable Connected, Electricity Connected, Sprinkler Meter, Water Connected, Water Source: Public
Slab
Close Of Escrow
Road Surface: Paved
Fence, Private Entrance, Private Mailbox, Sprinkler Metered
Ceiling Fans(s), Walk-In Closet(s)
Other equipment: Private Entrance
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
REALTY EXCHANGE, LLC
(386) 446-0017
Listed By:
Jennifer Wagner · License #3620364
Source:
Miharaandassociates
Added: Jul 22
Changed: Aug 9
Last Checked: Aug 9 at 5:30AM
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 REALTY EXCHANGE, LLC
Investment Insights
Based on property information with market context.
This updated duplex is configured with two separate 3BR/2BA units, for a total of six bedrooms and four bathrooms. Each side features a functional, open layout with vaulted ceilings, plus multiple interior finishes and upgrades including newer appliances and updated primary or kitchen elements.
Recent improvements include a new roof in 2024, water heater in 2025, fresh interior paint in 2025, brand-new front doors, and gutters with leaf guards. The exterior was professionally painted in 2024, and the property includes an extended driveway, sprinkler system, screened-in porch, white vinyl privacy fencing, and a storage shed. A 2020 air conditioning system is also noted as permitted.
Side A features granite countertops, newer stainless steel appliances, an updated primary bathroom, and spacious walk-in closets. Side B includes new flooring and a 2024 kitchen with Corian countertops, soft-close cabinetry, stainless steel appliances, and a pantry with pull-out shelving.
Recent improvements include a new roof in 2024, water heater in 2025, fresh interior paint in 2025, brand-new front doors, and gutters with leaf guards. The exterior was professionally painted in 2024, and the property includes an extended driveway, sprinkler system, screened-in porch, white vinyl privacy fencing, and a storage shed. A 2020 air conditioning system is also noted as permitted.
Side A features granite countertops, newer stainless steel appliances, an updated primary bathroom, and spacious walk-in closets. Side B includes new flooring and a 2024 kitchen with Corian countertops, soft-close cabinetry, stainless steel appliances, and a pantry with pull-out shelving.
Key Highlights
- Updated duplex built in 2004 with two 3BR/2BA units for a total of 6 bedrooms and 4 bathrooms
- Major updates: new roof (2024), water heater (2025), fresh interior paint (2025), brand‑new front doors, and gutters with leaf guards
- 2024 exterior professional painting plus an extended driveway, sprinkler system, screened‑in porch, white vinyl privacy fencing, and storage shed
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
$28,682
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
5.63%
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%
$573,640
$573.6K
Cap Rate 7%
$409,743
$409.7K
Cap Rate 9%
$318,689
$318.7K
Market Conditions
NOI Build-Up for 2,484 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
$43.2K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$41.0K $16.50/SF
− OpEx
−$12.3K −$4.95/SF
NOI
$28.7K $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%
$573,640
Cap Rate 7%
$409,743
Cap Rate 9%
$318,689
Alternative Uses
Best Use
Multifamily LT 5
$409.7K
$358.5K – $478.0K
NOI $28,682 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.7K
NOI $25,482 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$596.9K
$522.3K – $696.4K
NOI $41,785 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
51
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 - An updated duplex offering two spacious 3-bedroom, 2-bath units with multiple recent exterior and mechanical improvements.
Where is this duplex located?
The property is located at 210 ULLIAN TRAIL Palm Coast, FL.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: Updated duplex built in 2004 with two 3BR/2BA units for a total of 6 bedrooms and 4 bathrooms; Major updates: new roof (2024), water heater (2025), fresh interior paint (2025), brand‑new front doors, and gutters with leaf guards; 2024 exterior professional painting plus an extended driveway, sprinkler system, screened‑in porch, white vinyl privacy fencing, and storage shed
