Remodeled Duplex With
For Sale
$489,900
47 & 49 Sandpiper Circle, Ormond Beach, FL 32174
Residential Income, Ormond Beach, FL
Property Size2,640 SF
Lot Size0.12 Acres
Price / SF$185.57
Days on Market102
Property Features for 47 & 49 Sandpiper Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2
Parking features
Garage
Exterior features
Balcony
Appliances
Refrigerator, Electric Oven, Dishwasher
Subdivision
Woodland
Lot features
Cul-De-Sac
Directions
Take 40 /Granada to Nova rd, Turn right to Woodlands Blvd, right to Sandpiper Cir and arrive to 47 & 49 Sandpiper Circle.
Standard status
Active
APN
4220-09-00-0350
Size
2,640 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 35 EXC S 38.3 FT AS MEAS ON W/L SANDPIPER CIR THE WOODLANDS SUB PHASE III MB 35 PGS 88 & 89 PER OR 3974 PG 0661 PER OR 6032 PGS 2509-2511 PER OR 6075 PGS 1723-1724 PER OR 6075 PGS 1725-1726 PER OR 6138 PG 4479 PER OR 6689 PG 3589 PER OR 6726 PG 0723 P
Tax Annual Amount
3777
Legal Description
LOT 35 EXC S 38.3 FT AS MEAS ON W/L SANDPIPER CIR THE WOODLANDS SUB PHASE III MB 35 PGS 88 & 89 PER OR 3974 PG 0661 PER OR 6032 PGS 2509-2511 PER OR 6075 PGS 1723-1724 PER OR 6075 PGS 1725-1726 PER OR 6138 PG 4479 PER OR 6689 PG 3589 PER OR 6726 PG 0723 P
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
private balconies
covered patios
unfinished basements
Building Details
Year built
1984
Number of units
2
Flooring type
Tile, Laminate, Carpet
Roof type
Shingle
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Priscilla Arzivian · License #3246301
(386) 795-7653
Added: May 16
Changed: Aug 20
Last Checked: Aug 25 at 8:06AM
MLS# 1226483
Copyright © 2026 Daytona Beach Area Association of Realtors. 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 1984 duplex includes two remodeled units, identified as units 47 and 49, with newer kitchens, bathrooms, interior paint, windows, and sliding doors opening to private balconies. Each side has a two-car garage, a spacious driveway, central HVAC, and an unfinished 1,320-square-foot basement with a covered concrete patio. Tile, laminate, and carpet flooring are present, along with refrigerators, electric ovens, and dishwashers.
Both units are currently rented, and each has its own electric and water meter. The property is located on two included parcels totaling 0.12 acres at 47 & 49 Sandpiper Circle in Ormond Beach. Hass Park is directly behind the property, with walking and biking trails. Beaches, dining, shopping, hospitals, and schools are stated to be within 10–15 minutes. The property has public sewer, a shingle roof installed in 2015, no HOA, and is not in a flood zone.
Both units are currently rented, and each has its own electric and water meter. The property is located on two included parcels totaling 0.12 acres at 47 & 49 Sandpiper Circle in Ormond Beach. Hass Park is directly behind the property, with walking and biking trails. Beaches, dining, shopping, hospitals, and schools are stated to be within 10–15 minutes. The property has public sewer, a shingle roof installed in 2015, no HOA, and is not in a flood zone.
Key Highlights
- Two remodeled duplex units, identified as units 47 and 49
- Each unit includes a 1,320‑square‑foot unfinished basement
- Two‑car garage and spacious driveway for each unit
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
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
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 - Two remodeled units offer private balconies, separate utility meters, and substantial unfinished basement space for added flexibility.
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: Two remodeled duplex units, identified as units 47 and 49; Each unit includes a 1,320‑square‑foot unfinished basement; Two‑car garage and spacious driveway for each unit
