Modern Two-Unit
New
For Sale
$403,000
26 RIDDLE DRIVE, Palm Coast, FL 32164
Two residences feature open layouts, private garages, and contemporary finishes suited to flexible ownership or rental use.
Property Size1,954 SF
Lot Size0.25 Acres
Price / SF$206.24
Days on Market6
Property Features for 26 RIDDLE DRIVE
General Information
Standard status
Active
Size
1,954 SF
Total Parking Spaces
2
Lot size
0.25 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
1
Amenities
0.23 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 07-11-31-7031-00120-0150, Public Survey Range: 31E, Public Survey Section: 07, Annual Amount: $5,787.91, Tax Block: 12, Tax Book Number: 81, Legal Description: PALM COAST SECTION 31 BLOCK 00012 LOT 0015 SUBDIVISION COMPLETION YEAR 1981 OR 209 PG 81 OR 1484 PG 815-SA, Lot: 15, Year: 2025, Zoning: DPX
1 space
Central Air
Electric Dryer Hookup, Washer Hookup
Listing ID: MFROM732566, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-19, 1 day on market, Special Conditions: None
4 total bedrooms
Built in 2022, Living area: 1954, Living area units: Square Feet, Construction Materials: Block
Subdivision: PALM COAST SEC 31, MLS Area (Major): 32164 - Palm Coast, County/Parish: Flagler
4 total bathrooms
Public, Sewer Available, Water Source: Public
Block
Close Of Escrow
Road Surface: Asphalt
Open Floorplan, Walk-In Closet(s)
Other equipment: None
Building Details
Year Built
2022
Listing Agency:
SUNCOAST PROPERTY MANAGEMENT L
(904) 831-8050
Listed By:
Kelly Treadaway · License #3380118
(904) 831-8006
Source:
Miharaandassociates
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 22 at 4:14PM
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 SUNCOAST PROPERTY MANAGEMENT L
Investment Insights
Based on property information with market context.
Built in 2022, this duplex contains two 2-bedroom, 2-bathroom residences with approximately 977 square feet per unit and 1954 square feet overall. Each residence includes an open-concept layout, luxury vinyl plank flooring, granite countertops, stainless steel appliances, a breakfast bar, washer and dryer connections, and a private one-car garage. One unit is occupied and the other is vacant.
The property sits on an approximately quarter-acre lot with a wooded backdrop and no HOA. Located at 26 Riddle Drive in Palm Coast, it offers access to local shopping, dining, parks, recreational amenities, and Florida’s Atlantic Coast beaches.
The property sits on an approximately quarter-acre lot with a wooded backdrop and no HOA. Located at 26 Riddle Drive in Palm Coast, it offers access to local shopping, dining, parks, recreational amenities, and Florida’s Atlantic Coast beaches.
Key Highlights
- Two‑unit duplex built in 2022
- Each residence offers 2 bedrooms, 2 bathrooms, and approximately 977 square feet
- 1954 square feet overall on an approximately quarter‑acre lot
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
$22,562
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
5.60%
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%
$451,240
$451.2K
Cap Rate 7%
$322,314
$322.3K
Cap Rate 9%
$250,689
$250.7K
Market Conditions
NOI Build-Up for 1,954 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
$34.0K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$32.2K $16.50/SF
− OpEx
−$9.7K −$4.95/SF
NOI
$22.6K $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%
$451,240
Cap Rate 7%
$322,314
Cap Rate 9%
$250,689
Alternative Uses
Best Use
Multifamily LT 5
$322.3K
$282.0K – $376.0K
NOI $22,562 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$286.4K
$250.6K – $334.1K
NOI $20,045 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$469.6K
$410.9K – $547.8K
NOI $32,869 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 32164, FL
49,412
Population
22,902
Households
2.2
Avg Household Size
48
Median Age
26%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
1,520
Density / Sq Mi
$71,738
Median Household Income
$37,976
Median Earnings
$1,724
Median Rent
$308,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residences feature open layouts, private garages, and contemporary finishes suited to flexible ownership or rental use.
Where is this duplex located?
The property is located at 26 RIDDLE DRIVE Palm Coast, FL.
What is the asking price?
The asking price for this property is $403,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2022; Each residence offers 2 bedrooms, 2 bathrooms, and approximately 977 square feet; 1954 square feet overall on an approximately quarter‑acre lot
