Duplex with One Vacant
For Sale
$249,900
2308 Fern Palm Dr, Edgewater, FL 32141
One unit is available for occupancy or leasing, while the other remains leased through December 2026.
Property Size2,040 SF
Price / SF$122.50
Days on Market115
Property Features for 2308 Fern Palm Dr
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,973
Listing Agency:
Local Living Realty Group
(386) 314-5458
Listed By:
Jennifer Napier
(386) 689-3310
Source:
Exprealty
Added: Jun 25
Changed: Oct 2
Last Checked: Oct 16 at 1:28PM
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 Local Living Realty Group
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Investment Insights
Based on property information with market context.
Located in Florida Shores at 2308 Fern Palm Dr, this two-unit duplex offers 2,040 square feet of residential space. One unit is vacant and can be occupied or leased, while the second unit is under lease through December 2026.
The property was built in 2002 and received a new roof in 2021. There is no HOA associated with the property, providing an additional ownership feature for residential income property buyers.
The property was built in 2002 and received a new roof in 2021. There is no HOA associated with the property, providing an additional ownership feature for residential income property buyers.
Key Highlights
- Two‑unit duplex with 2,040 total square feet
- One unit is vacant and available for occupancy or leasing
- Second unit leased through December 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,896
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,920
$357.9K
Cap Rate 7%
$255,657
$255.7K
Cap Rate 9%
$198,844
$198.8K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$28.4K $13.92/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$25.6K $12.53/SF
− OpEx
−$7.7K −$3.76/SF
NOI
$17.9K $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%
$357,920
Cap Rate 7%
$255,657
Cap Rate 9%
$198,844
Alternative Uses
Best Use
Multifamily LT 5
$255.7K
$223.7K – $298.3K
NOI $17,896 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$222.1K
$194.3K – $259.1K
NOI $15,545 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$601.5K
$526.3K – $701.8K
NOI $42,106 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
380
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
Frequently Asked Questions
What type of property is this?
Duplex - One unit is available for occupancy or leasing, while the other remains leased through December 2026.
Where is this duplex located?
The property is located at 2308 Fern Palm Dr Edgewater, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,040 total square feet; One unit is vacant and available for occupancy or leasing; Second unit leased through December 2026
