Duplex With Common Laundry
For Sale
$260,000
24 FARRADAY Lane, Palm Coast, FL 32137
MULTI_FAMILY - Palm Coast, FL
Property Size1,738 SF
Lot Size0.28 Acres
Price / SF$149.60
Days on Market36
Property Features for 24 FARRADAY Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Driveway
Subdivision
Palm Coast
Lot features
Few Trees
Directions
From I-95 take exit 289 to Palm Coast Pkwy SE and head East to Florida Park Dr N and turn Left. Follow to Farraday Lane and turn Right. Follow to house number 24, which is on the Left side of road.
Standard status
Active
APN
0711317002000200280
Size
1,738 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2862
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Amenities
common laundry room
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Flooring type
Tile
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ST JOHNS · Keller Williams Realty
(904) 867-7694
Listed By:
CHRISTOPHER M FEDOR
(904) 607-6830
Added: Jul 22
Changed: Aug 4
Last Checked: Aug 26 at 6:06AM
MLS# 2156898
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex includes two separate units in a single structure, built in 1978. Unit A is a street-side one-bedroom with one full bath. Unit B is a rear two-bedroom unit with two full baths. A common laundry room is located at the rear of the building.
Both units provide front and rear entry, supporting convenient access to the laundry area and the back or side yard. The property sits on a 0.28-acre lot on an F Section canal street in Palm Coast, FL 32137. Flooring is listed as tile, and the home has central heating and central air conditioning.
Parking is provided via driveway, and cable service is available. The roof is shingle, and the layout supports multi-family use with two clearly defined residential units.
Both units provide front and rear entry, supporting convenient access to the laundry area and the back or side yard. The property sits on a 0.28-acre lot on an F Section canal street in Palm Coast, FL 32137. Flooring is listed as tile, and the home has central heating and central air conditioning.
Parking is provided via driveway, and cable service is available. The roof is shingle, and the layout supports multi-family use with two clearly defined residential units.
Key Highlights
- 0.28‑acre lot on an F Section canal street
- Unit A: one‑bedroom, one full bath, street‑side
- Unit B: two‑bedroom, two full baths, rear unit
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
$20,068
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
7.72%
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%
$401,360
$401.4K
Cap Rate 7%
$286,686
$286.7K
Cap Rate 9%
$222,978
$223.0K
Market Conditions
NOI Build-Up for 1,738 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
$30.2K $17.40/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$28.7K $16.50/SF
− OpEx
−$8.6K −$4.95/SF
NOI
$20.1K $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%
$401,360
Cap Rate 7%
$286,686
Cap Rate 9%
$222,978
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.9K – $334.5K
NOI $20,068 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$254.7K
$222.9K – $297.2K
NOI $17,829 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$417.7K
$365.5K – $487.3K
NOI $29,236 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with a common rear laundry room and central air on a 0.28-acre lot.
Where is this duplex located?
The property is located at 24 FARRADAY Lane Palm Coast, FL.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 0.28‑acre lot on an F Section canal street; Unit A: one‑bedroom, one full bath, street‑side; Unit B: two‑bedroom, two full baths, rear unit
