Two-Unit Duplex with Updated
2308 Fern Palm Drive, Edgewater, FL 32141
For Sale
$219,900
Under Contract
Residential Income, Edgewater, FL
Property Size2,040 SF
Lot Size0.18 Acres
Price / SF$107.79
Days on Market138
Property Features for 2308 Fern Palm Drive
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Local Living Realty Group
(386) 314-5458
Listed By:
Jennifer Napier
(386) 689-3310
Added: Jun 25
Changed: Nov 4
Last Checked: Nov 9 at 7:06AM
MLS# 1227948
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,040 square feet and was constructed in 2002. The property includes block and concrete construction, tile flooring, central heating, central air, and a membrane roof installed in 2021. Each unit includes a bathroom and bedroom, with shared property features including a driveway, washer, dryer, refrigerator, electric range, and electric water heater.
Located at 2308 Fern Palm Drive in Edgewater, the property occupies 0.18 acres and is served by public water and public sewer. One unit is vacant for occupancy or leasing, while the other has a lease extending through December 2026. Cable service is available.
Located at 2308 Fern Palm Drive in Edgewater, the property occupies 0.18 acres and is served by public water and public sewer. One unit is vacant for occupancy or leasing, while the other has a lease extending through December 2026. Cable service is available.
Key Highlights
- Two‑unit duplex totaling 2,040 square feet
- One unit vacant; second unit leased through December 2026
- Membrane roof installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,896
Cap Rate
8.14%
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 8.14%
Second Best
Apartment 5plus
$222.1K
$194.3K – $259.1K
NOI $15,545 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$601.5K
$526.3K – $701.8K
NOI $42,106 @ 7.0% cap · market cap 19.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
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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
$244,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Volusia County, FL
Properties on Market for Duplexes in Volusia County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One unit is vacant, while the second remains leased through December 2026.
Where is this duplex located?
The property is located at 2308 Fern Palm Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,040 square feet; One unit vacant; second unit leased through December 2026; Membrane roof installed in 2021
