New Construction
For Sale
Under Contract
$549,900
3 WHELAN Place, Palm Coast, FL 32164
Residential Income, PALM COAST, FL
Property Size2,597 SF
Lot Size0.29 Acres
Price / SF$211.74
Days on Market12
Property Features for 3 WHELAN Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
DPX
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 6, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 2, Bathroom 3, Bathroom 4
Pets allowed
Yes
Interior features
Open Floorplan, Solid Surface Counters, Thermostat, Walk-In Closet(s)
Exterior features
Private Mailbox
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
PINE LAKES
Directions
Pine Lakes Pkwy to Whirlaway Dr to Wheatfield Dr to Whelan Pl
Standard status
Active Under Contract
APN
07-11-31-7023-00630-0190
Size
2,597 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 23 BLOCK 00063 LOT 0019 SUBDIVISION COMPLETION YEAR 1980 OR 553 PG 1539 OR 752 PG 761 OR 962 PG 1925 OR 1119 PG 1069 OR 1278 PG 805 OR 1584 PG 1092 OR 1678/1107-CT OR 1724/1090
Tax Annual Amount
945
Legal Description
PALM COAST SECTION 23 BLOCK 00063 LOT 0019 SUBDIVISION COMPLETION YEAR 1980 OR 553 PG 1539 OR 752 PG 761 OR 962 PG 1925 OR 1119 PG 1069 OR 1278 PG 805 OR 1584 PG 1092 OR 1678/1107-CT OR 1724/1090
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
fenced backyards
covered rear porches
Building Details
Year built
2026
Floors in Building
1
Flooring type
Vinyl
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
VIRTUAL HOMES REALTY
(386) 569-5383
Listed By:
Alina Pekarsky · License #3118291
(386) 569-5383
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 29 at 2:06PM
MLS# FC320702
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 duplex is under construction with 2,597 square feet on a 0.29-acre lot at 3 WHELAN Place in Palm Coast. Built with block and stucco, the property includes two residences, each with 3 bedrooms, 2 bathrooms, a 1-car garage, an open floor plan, and living and dining areas connected to a modern kitchen. Vinyl flooring, solid surface counters, walk-in closets, central air, and electric heat pump systems are included. Each unit also has a fenced backyard and covered rear porch.
The property carries DPX zoning and is served by public water and public sewer. The Pine Lakes neighborhood places the duplex near schools, shopping, dining, parks, golf, I-95, and Flagler Beach. Construction is scheduled for 2026 completion.
The property carries DPX zoning and is served by public water and public sewer. The Pine Lakes neighborhood places the duplex near schools, shopping, dining, parks, golf, I-95, and Flagler Beach. Construction is scheduled for 2026 completion.
Key Highlights
- 2,597‑square‑foot duplex on a 0.29‑acre lot
- Each unit includes 3 bedrooms, 2 bathrooms, and a 1‑car garage
- Open floor plans with modern kitchens and solid surface counters
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
$29,987
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
5.45%
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%
$599,740
$599.7K
Cap Rate 7%
$428,386
$428.4K
Cap Rate 9%
$333,189
$333.2K
Market Conditions
NOI Build-Up for 2,597 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
$45.2K $17.40/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$42.8K $16.50/SF
− OpEx
−$12.9K −$4.95/SF
NOI
$30.0K $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%
$599,740
Cap Rate 7%
$428,386
Cap Rate 9%
$333,189
Alternative Uses
Best Use
Multifamily LT 5
$428.4K
$374.8K – $499.8K
NOI $29,987 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$380.6K
$333.0K – $444.0K
NOI $26,641 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$624.1K
$546.1K – $728.1K
NOI $43,686 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
71
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 matching residences feature open layouts, private garages, fenced yards, and covered rear porches.
Where is this duplex located?
The property is located at 3 WHELAN Place Palm Coast, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,597‑square‑foot duplex on a 0.29‑acre lot; Each unit includes 3 bedrooms, 2 bathrooms, and a 1‑car garage; Open floor plans with modern kitchens and solid surface counters
