Two-Unit Duplex with Updated
New
For Sale
$329,900
33 WELLWOOD LANE, Palm Coast, FL 32164
Each side offers a practical residential layout with living space, kitchen, bedrooms, and a full bathroom.
Property Size1,736 SF
Price / SF$190.03
Days on Market6
Property Features for 33 WELLWOOD LANE
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1984
Buildings
1
Listing Agency:
TRADEMARK REALTY GROUP LLC
(386) 447-6889
Listed By:
Bruce Garrison · License #3070543
Source:
Endlesssummerrealty
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 16 at 6:04AM
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 TRADEMARK REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each side offering two bedrooms, one full bathroom, a living area, and a functional kitchen. The property provides 1,736 square feet of total building area and was constructed in 1984. The roof was replaced in 2023.
Located at 33 Wellwood Lane in Palm Coast’s Pine Lakes subdivision, the property is near shopping, dining, parks, and schools. Its two-unit configuration supports separate residential living spaces within a single building.
Located at 33 Wellwood Lane in Palm Coast’s Pine Lakes subdivision, the property is near shopping, dining, parks, and schools. Its two-unit configuration supports separate residential living spaces within a single building.
Key Highlights
- Two‑unit duplex with 1,736 square feet of total building area
- Each side includes 2 bedrooms and 1 full bathroom
- Both units feature living areas and functional kitchens
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
$20,045
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
6.08%
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%
$400,900
$400.9K
Cap Rate 7%
$286,357
$286.4K
Cap Rate 9%
$222,722
$222.7K
Market Conditions
NOI Build-Up for 1,736 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
$28.6K $16.50/SF
− OpEx
−$8.6K −$4.95/SF
NOI
$20.0K $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%
$400,900
Cap Rate 7%
$286,357
Cap Rate 9%
$222,722
Alternative Uses
Best Use
Multifamily LT 5
$286.4K
$250.6K – $334.1K
NOI $20,045 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$254.4K
$222.6K – $296.8K
NOI $17,809 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$417.2K
$365.0K – $486.7K
NOI $29,202 @ 7.0% cap · market cap 8.85%
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
639
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 - Each side offers a practical residential layout with living space, kitchen, bedrooms, and a full bathroom.
Where is this duplex located?
The property is located at 33 WELLWOOD LANE Palm Coast, FL.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,736 square feet of total building area; Each side includes 2 bedrooms and 1 full bathroom; Both units feature living areas and functional kitchens
