Turnkey Duplex with Private
2518 Fern Palm Drive Edgewater, FL 32141
New
For Sale
$559,000
MULTI_FAMILY - Edgewater, FL
Property Size3,006 SF
Lot Size0.28 Acres
Price / SF$185.96
Days on Market2
Property Features for 2518 Fern Palm Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 5
- Parking features
- RV, Garage
- Exterior features
- Impact Windows
- Appliances
- Refrigerator, Electric Range, Dishwasher
- Standard status
- Active
- APN
- 840201065680
- Size
- 3,006 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8124
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2021
- Number of units
- 2
- Flooring type
- Carpet, Tile
- Building materials
- Block, Concrete
- Roof type
- Shingle
Listing Agency:
Keller Williams Realty Florida Partners
(386) 944-2800
Listed By:
Mike Bretzel
(386) 631-5757
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 10:06PM
MLS# 1228946
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.
Investment Insights
Based on property information with market context.
Built in 2021, this fully occupied duplex is configured as two separate residential units. Each unit includes 3 bedrooms and 2 bathrooms, an oversized one-car garage, vaulted ceilings, interior laundry, and central air conditioning. Interior finishes include luxury vinyl plank flooring in main living areas, granite countertops, white shaker cabinetry, and spacious kitchen islands with stainless steel appliances. Each unit also features a covered rear lanai, generous primary suite with dual vanities and a walk-in shower, and a private backyard that overlooks a wooded setting.
The property sits on an oversized 120' x 100' lot and is separately metered for electric and water, with tenants paying their own utilities. The duplex is located in Edgewater, with convenient access to shopping, dining, parks, the Indian River, public boat ramps, and the beaches of New Smyrna.
The listing is presented as turnkey with long-term tenants already in place and each unit separately metered for utilities.
The property sits on an oversized 120' x 100' lot and is separately metered for electric and water, with tenants paying their own utilities. The duplex is located in Edgewater, with convenient access to shopping, dining, parks, the Indian River, public boat ramps, and the beaches of New Smyrna.
The listing is presented as turnkey with long-term tenants already in place and each unit separately metered for utilities.
Key Highlights
- Duplex built in 2021 with 2 units, each offering 3 bedrooms and 2 bathrooms
- Generates $3,850/month in gross rental income with two long‑term tenants reported as fully occupied
- Central heat and central A/C; each unit separately metered for electric and water with tenants paying utilities
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.8k | $13.92 |
| − Vacancy | −$4.2k | −$1.39 |
| EGI | $37.7k | $12.53 |
| − OpEx | −$11.3k | −$3.76 |
| NOI | $26.4k | $8.77 |
3,006 SF · lease $13.92/SF/yr · vacancy 9.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$376.7K
$329.6K – $439.5K
NOI $26,370 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$327.2K
$286.3K – $381.8K
NOI $22,906 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$886.3K
$775.6K – $1.03M
NOI $62,044 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
High Order
Clothing Store
FAQs
What type of property is this?
Duplex - Built in 2021, fully occupied duplex offers two separate 3-bedroom units with private backyards and separate utilities.
Where is this duplex located?
The property is located at 2518 Fern Palm Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Duplex built in 2021 with 2 units, each offering 3 bedrooms and 2 bathrooms; Generates $3,850/month in gross rental income with two long‑term tenants reported as fully occupied; Central heat and central A/C; each unit separately metered for electric and water with tenants paying utilities
