Duplex with Two Private
For Sale
$260,000
24 FARRADAY Ln, Palm Coast, FL 32137
Duplex offering a 1-bedroom front unit and a 2-bedroom rear unit with a shared rear laundry room.
Property Size1,738 SF
Days on Market26
Property Features for 24 FARRADAY Ln
General Information
Standard status
Active
Size
1,738 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,862
Building Details
Building Size
1,738 SF
Year Built
1978
Stories
1
Units
2
Listing Agency:
Keller Williams St Johns
(904) 607-6830
Listed By:
CHRISTOPHER M FEDOR
Source:
Elliman
Added: Jul 25
Changed: Aug 11
Last Checked: Aug 19 at 11:07AM
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 Keller Williams St Johns
Investment Insights
Based on property information with market context.
This duplex includes two separate residential units. Unit A is a street-side 1-bedroom with 1 full bath. Unit B is a rear 2-bedroom with 2 full baths. A common laundry room is located in the rear of the structure.
Both units have front and rear entry points, supporting convenient access to laundry and the back or side yard. The property sits on a large lot with mature oak trees, providing outdoor space tied to the duplex configuration.
The overall layout supports two independent living spaces within one multifamily duplex, with shared laundry facilities and rear-yard access for day-to-day usability.
Both units have front and rear entry points, supporting convenient access to laundry and the back or side yard. The property sits on a large lot with mature oak trees, providing outdoor space tied to the duplex configuration.
The overall layout supports two independent living spaces within one multifamily duplex, with shared laundry facilities and rear-yard access for day-to-day usability.
Key Highlights
- Duplex built in 1978 with Unit A (1BR/1BA) and Unit B (2BR/2BA)
- Shared rear laundry room in the rear of the structure
- Both units have front and rear entry for convenient access to laundry and the back/side yard
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
Location Intelligence
Trade Area within ½ mile
963
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering a 1-bedroom front unit and a 2-bedroom rear unit with a shared rear laundry room.
Where is this duplex located?
The property is located at 24 FARRADAY Ln 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: Duplex built in 1978 with Unit A (1BR/1BA) and Unit B (2BR/2BA); Shared rear laundry room in the rear of the structure; Both units have front and rear entry for convenient access to laundry and the back/side yard
