2023 Two-Unit
New
For Sale
$580,000
4 FARNUM LANE, Palm Coast, FL 32137
Each residence offers a four-bedroom, two-bath layout and a two-car garage.
Property Size3,094 SF
Price / SF$187.46
Days on Market3
Property Features for 4 FARNUM LANE
General Information
Standard status
Active
Size
3,094 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
0.23 acres
Public Sewer
Additional parcels description:, Parcel Number: 07-11-31-7009-00010-0020, Public Survey Range: 31E, Public Survey Section: 07, Annual Amount: $9,456.37, Tax Block: 1, Tax Book Number: 195, Legal Description: PALM COAST SECTION 09 BLOCK 00001 LOT 0002 SUBDIVISION COMPLETION YEAR 1978 OR BOOK 195 PAGE 84 OR 361 PG 603, Lot: 2, Year: 2025, Zoning: DPX
Tile
4 spaces
Central Air
Central
Laundry Closet
Listing ID: MFRFC321573, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-21, 1 day on market, Special Conditions: None
8 total bedrooms
Built in 2023, Living area: 3094, Living area units: Square Feet, Construction Materials: Block, Stucco
Subdivision: PALM COAST SEC 09, MLS Area (Major): 32137 - Palm Coast, County/Parish: Flagler
4 total bathrooms
Electricity Available, Public, Water Source: Public
Concrete Perimeter
Road Surface: Asphalt
Fence
Building Details
Year Built
2023
Listing Agency:
GRAND LIVING REALTY
(386) 447-0800
Listed By:
Shari Leigh Murriello · License #3040005
(561) 762-1828
Source:
Miharaandassociates
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 2:07PM
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 GRAND LIVING REALTY
Investment Insights
Based on property information with market context.
Built in 2023, this duplex consists of two residences with the same stated configuration. Each residence includes four bedrooms, two bathrooms, and a two-car garage, creating a substantial residential layout within the overall property. The property is located at 4 Farnum Lane in Palm Coast, Florida, with a total property size of 3,094.
Key Highlights
- Two‑unit duplex built in 2023
- Each residence has 4 bedrooms and 2 bathrooms
- Each residence includes a 2‑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
$35,725
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
6.16%
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%
$714,500
$714.5K
Cap Rate 7%
$510,357
$510.4K
Cap Rate 9%
$396,944
$396.9K
Market Conditions
NOI Build-Up for 3,094 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
$53.8K $17.40/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$51.0K $16.50/SF
− OpEx
−$15.3K −$4.95/SF
NOI
$35.7K $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%
$714,500
Cap Rate 7%
$510,357
Cap Rate 9%
$396,944
Alternative Uses
Best Use
Multifamily LT 5
$510.4K
$446.6K – $595.4K
NOI $35,725 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$453.4K
$396.7K – $529.0K
NOI $31,739 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$743.5K
$650.6K – $867.4K
NOI $52,046 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 residence offers a four-bedroom, two-bath layout and a two-car garage.
Where is this duplex located?
The property is located at 4 FARNUM LANE Palm Coast, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2023; Each residence has 4 bedrooms and 2 bathrooms; Each residence includes a 2‑car garage
