Ormond Beach Duplex with
For Sale
$489,900
47 & 49 Sandpiper Circle, Ormond Beach, FL 32174
Turn-key duplex in Ormond Beach with rare basements.
Property Size5,280 SF
Price / SF$185.57
Days on Market107
Property Features for 47 & 49 Sandpiper Circle
General Information
Standard status
Active
Size
5,280 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,776
Amenities
Central Air
Central
Refrigerator, Electric Oven, Dishwasher
Trees/Woods
Garage
Balcony
Building Details
Building Size
5,280 SF
Year Built
1984
Listing Agency:
LPT REALTY LLC (PALM COAST)
(386) 795-7653
Listed By:
Priscilla Arzivian · License #3246301
(386) 795-7653
Source:
Evrealestate
Added: May 15
Changed: Aug 23
Last Checked: Aug 29 at 8:00AM
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 LPT REALTY LLC (PALM COAST)
Investment Insights
Based on property information with market context.
Located in Ormond Beach, Florida, the property at 47 & 49 Sandpiper Circle presents a duplex in a quiet cul-de-sac within The Woodlands. Each unit, approximately 1320 heated square feet, includes 2 bedrooms, 2 full bathrooms, a 2-car garage, and a private balcony. A notable feature is the inclusion of a basement in each unit, offering options for additional storage or conversion into living space. The total square footage of the duplex is 5280, excluding the garages and balconies. Each side has its own electric and water meter. The sale includes both parcels #4220-09-00-0350 and #4220-09-00-0351. The property has an excellent rental history and is located less than 10-15 minutes from beaches, dining, shopping, hospitals, and schools.
Key Highlights
- Rare duplex in Ormond Beach with excellent rental history, offering a turn‑key investment opportunity.
- Each unit features 2 bedrooms, 2 full bathrooms, and a 2‑car garage with a private balcony.
- Unique full basement in each unit (rare for Florida), offering potential for additional storage or living space.
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
$23,159
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
4.73%
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%
$463,180
$463.2K
Cap Rate 7%
$330,843
$330.8K
Cap Rate 9%
$257,322
$257.3K
Market Conditions
NOI Build-Up for 2,640 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
$36.7K $13.92/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$33.1K $12.53/SF
− OpEx
−$9.9K −$3.76/SF
NOI
$23.2K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /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%
$463,180
Cap Rate 7%
$330,843
Cap Rate 9%
$257,322
Alternative Uses
Best Use
Multifamily LT 5
$330.8K
$289.5K – $386.0K
NOI $23,159 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$287.4K
$251.5K – $335.3K
NOI $20,117 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$778.4K
$681.1K – $908.2K
NOI $54,490 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
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 - Turn-key duplex in Ormond Beach with rare basements.
Where is this duplex located?
The property is located at 47 & 49 Sandpiper Circle Ormond Beach, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Rare duplex in Ormond Beach with excellent rental history, offering a turn‑key investment opportunity.; Each unit features **2 bedrooms, 2 full bathrooms, and a 2‑car garage with a private balcony.**; Unique full basement in each unit (rare for Florida), offering potential for additional storage or living space.
