Newer Two-Unit
New
For Sale
$580,000
4 FARNUM Lane, Palm Coast, FL 32137
Residential Income, PALM COAST, FL
Property Size3,094 SF
Lot Size0.23 Acres
Price / SF$187.46
Days on Market6
Property Features for 4 FARNUM Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
DPX
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 7, Bedroom 2
Exterior features
Fence
Fencing
Fenced
Subdivision
PALM COAST SEC 09
Directions
I'm I-95 to palm coast Parkway to Old Kings Road to Farnum Lane on the right
Standard status
Active
APN
07-11-31-7009-00010-0020
Size
3,094 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 09 BLOCK 00001 LOT 0002 SUBDIVISION COMPLETION YEAR 1978 OR BOOK 195 PAGE 84 OR 361 PG 603
Tax Annual Amount
9456
Legal Description
PALM COAST SECTION 09 BLOCK 00001 LOT 0002 SUBDIVISION COMPLETION YEAR 1978 OR BOOK 195 PAGE 84 OR 361 PG 603
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Flooring type
Tile
Building materials
Block, Stucco
Listing Agency:
GRAND LIVING REALTY
(386) 447-0800
Listed By:
Shari Leigh Murriello · License #3040005
(561) 762-1828
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 23 at 4:06AM
MLS# FC321573
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.
Completed in 2023, this duplex contains two residential units within a 3,094-square-foot building. Each side provides four bedrooms, two bathrooms, and a two-car garage, creating a combined layout of eight bedrooms, four bathrooms, and four garage spaces. The property has block and stucco construction, tile flooring, central heating, and central air conditioning.
Set on a 0.23-acre lot in Palm Coast, the property is zoned DPX and includes fencing. Public water and public sewer serve the site, with electricity available. The address is 4 Farnum Lane, Palm Coast, FL 32137.
Set on a 0.23-acre lot in Palm Coast, the property is zoned DPX and includes fencing. Public water and public sewer serve the site, with electricity available. The address is 4 Farnum Lane, Palm Coast, FL 32137.
Key Highlights
- Two‑unit duplex completed in 2023
- 3,094‑square‑foot building on a 0.23‑acre lot
- Each unit includes 4 bedrooms, 2 bathrooms, and 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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer four bedrooms, two bathrooms, and a two-car garage per side.
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 completed in 2023; 3,094‑square‑foot building on a 0.23‑acre lot; Each unit includes 4 bedrooms, 2 bathrooms, and a 2‑car garage
