Remodeled Duplex With Full
For Sale
$489,900
47 & 49 Sandpiper Circle Unit 47 & 49, Ormond Beach, FL 32174
Both units include private balconies, garages, and substantial unfinished basement space.
Property Size2,640 SF
Price / SF$185.57
Days on Market106
Property Features for 47 & 49 Sandpiper Circle Unit 47 & 49
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
4
Property subtype
Multi-family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
balcony
covered patio
Building Details
Year Built
1984
Tenancy
Multi
Listing Agency:
LPT REALTY LLC (PALM COAST)
(386) 795-7653
Listed By:
Priscilla Arzivian · License #3246301
Source:
Realtygroupfl
Added: May 4
Changed: Aug 16
Last Checked: Aug 16 at 9:56AM
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.
This duplex contains two fully remodeled units, each with 1,320-square-foot unfinished basements, private balconies, a two-car garage, and a spacious driveway. Updates include kitchens, bathrooms, interior paint, windows, and sliding doors. The basements provide open interior areas and covered concrete patios, while separate electric and water meters serve each unit. Both sides are currently rented, providing an established residential income configuration.
The property includes parcels 4220-09-00-0350 and 4220-09-00-0351 and was built in 1984. A newer architectural roof installed in 2015 and HVAC systems from 2018/2019 are also in place. The balconies and rear basement patios overlook a wooded area. There is no HOA, and the property is not in a flood zone.
Located in Ormond Beach, the duplex is within 10-15 minutes of beaches, dining, shopping, hospitals, and schools. Hass Park is directly behind the property and offers walking and biking trails.
The property includes parcels 4220-09-00-0350 and 4220-09-00-0351 and was built in 1984. A newer architectural roof installed in 2015 and HVAC systems from 2018/2019 are also in place. The balconies and rear basement patios overlook a wooded area. There is no HOA, and the property is not in a flood zone.
Located in Ormond Beach, the duplex is within 10-15 minutes of beaches, dining, shopping, hospitals, and schools. Hass Park is directly behind the property and offers walking and biking trails.
Key Highlights
- Two fully remodeled duplex units, each with a 1,320‑square‑foot unfinished basement
- Each unit includes a two‑car garage, private balcony, spacious driveway, and covered concrete basement patio
- Architectural roof installed in 2015; HVAC systems date to 2018/2019
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
Multi-tenant
Tenancy
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 - Both units include private balconies, garages, and substantial unfinished basement space.
Where is this duplex located?
The property is located at 47 & 49 Sandpiper Circle Unit 47 & 49 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 fully remodeled duplex units, each with a 1,320‑square‑foot unfinished basement; Each unit includes a two‑car garage, private balcony, spacious driveway, and covered concrete basement patio; Architectural roof installed in 2015; HVAC systems date to 2018/2019
