Duplex with Fenced Yard and Screened
For Sale
$565,000
28 KARAT Path, Palm Coast, FL 32164
MULTI_FAMILY - PALM COAST, FL
Property Size3,123 SF
Lot Size0.23 Acres
Price / SF$180.92
Days on Market164
Property Features for 28 KARAT Path
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
DPX
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bedroom 7, Bedroom 5, Family Room, Bedroom 4, Laundry Room, Bedroom 6, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2
Patio and Porch features
Patio
Pets allowed
Cats OK, Dogs OK
Interior features
Ceiling Fans(s), High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Solid Surface Counters
Exterior features
Fence, Garden, Rain Gutters, Sliding Doors
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Subdivision
PALM COAST SEC 65
Lot features
Cul-De-Sac
Elementary school
Bunnell Elementary
Middle school
Buddy Taylor Middle
High school
Flagler-Palm Coast High
Directions
State Rd 100 to Belle Terre Pkwy, go south to Karas Trail, make a left to Karat Path turn left to property
Standard status
Active
APN
07-11-31-7065-00570-0130
Size
3,123 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SEC 65 BL 57 LT 13 OR 553 PG 1539 OR 602 PG 554 OR 1172 PG 1069
Tax Annual Amount
6855
Legal Description
PALM COAST SEC 65 BL 57 LT 13 OR 553 PG 1539 OR 602 PG 554 OR 1172 PG 1069
Utilities
Utilities
Natural Gas Available
Sewer type
Private Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
screened-in back patio
fully fenced backyard
Building Details
Year built
2006
Number of units
2
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Carlos Arias · License #561991
(954) 445-4944
Added: Mar 4
Changed: Aug 13
Last Checked: Aug 15 at 1:06AM
MLS# FC316704
Copyright © 2026 Stellar MLS. 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 custom concrete block duplex offers two separate living spaces with shared outdoor areas. Constructed in 2006, the property includes a side A unit with approximately 1,726 SF featuring 4 bedrooms and 3 full bathrooms, including two master suites, plus an oversized 1.5-car garage. Side B provides approximately 1,395 SF with 3 bedrooms, 2 bathrooms, and a 1-car garage. Both units share access to a large screened-in back patio and a fully fenced backyard, with ceiling fans and high ceilings throughout. Interior features include an open floorplan with a kitchen/family room combo and solid surface counters, and both sides are served by central air and electric heating.
The duplex sits on a 10,019 SF lot and includes fencing, rain gutters, sliding doors, and a patio. Utilities include public water and private sewer, with natural gas available. An accessible approach with a ramp is also noted.
Configured for flexible occupancy, the layout supports a range of options such as owner occupancy with a rental offset or long-term rental use.
The duplex sits on a 10,019 SF lot and includes fencing, rain gutters, sliding doors, and a patio. Utilities include public water and private sewer, with natural gas available. An accessible approach with a ramp is also noted.
Configured for flexible occupancy, the layout supports a range of options such as owner occupancy with a rental offset or long-term rental use.
Key Highlights
- Custom concrete block duplex built in 2006
- 10,019 SF lot with fenced backyard and garden
- Side A: approx 1,726 SF, 4 bed, 3 full bath, two master suites, oversized 1.5‑car garage
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
$36,060
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
6.38%
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%
$721,200
$721.2K
Cap Rate 7%
$515,143
$515.1K
Cap Rate 9%
$400,667
$400.7K
Market Conditions
NOI Build-Up for 3,123 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
$54.3K $17.40/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$51.5K $16.50/SF
− OpEx
−$15.5K −$4.95/SF
NOI
$36.1K $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%
$721,200
Cap Rate 7%
$515,143
Cap Rate 9%
$400,667
Alternative Uses
Best Use
Multifamily LT 5
$515.1K
$450.8K – $601.0K
NOI $36,060 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$457.7K
$400.5K – $534.0K
NOI $32,037 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$750.5K
$656.7K – $875.6K
NOI $52,534 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
17
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
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 - Two-unit duplex built in 2006 with central air, fenced yard, and shared screened patio for flexible living or rental use.
Where is this duplex located?
The property is located at 28 KARAT Path Palm Coast, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Custom concrete block duplex built in 2006; 10,019 SF lot with fenced backyard and garden; Side A: approx 1,726 SF, 4 bed, 3 full bath, two master suites, oversized 1.5‑car garage
