Two-Unit Duplex with
New
For Sale
$585,000
51 PROVIDENCE Lane, Palm Coast, FL 32164
Residential Income, PALM COAST, FL
Property Size3,150 SF
Lot Size0.24 Acres
Price / SF$185.71
Days on Market3
Property Features for 51 PROVIDENCE Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
DPX
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 1
Window features
Aluminum Frames
Patio and Porch features
Porch
Pets allowed
Cats OK, Dogs OK
Interior features
Ceiling Fans(s), Solid Surface Counters, Walk-In Closet(s)
Appliances
Dishwasher, Disposal, Electric Water Heater, Microwave, Range, Refrigerator
Subdivision
PALM COAST SEC 24
View
City
Elementary school
Wadsworth Elementary
Middle school
Buddy Taylor Middle
High school
Flagler-Palm Coast High
Directions
Belle Terre Pkwy - Pritchard Dr - Providence ln
Standard status
Active
APN
07-11-31-7024-00540-0220
Size
3,150 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 24 BLOCK 00054 LOT 0022 SUBDIVISION COMPLETION YEAR 1980 OR 241 PG 325 OR 2110/202
Tax Annual Amount
7165
Legal Description
PALM COAST SECTION 24 BLOCK 00054 LOT 0022 SUBDIVISION COMPLETION YEAR 1980 OR 241 PG 325 OR 2110/202
Utilities
Utilities
Phone Available
Sewer type
Holding Tank, Public Sewer
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
APEX REALTY LLC
(386) 986-5053
Listed By:
Elena Tchoumakova · License #3228404
(386) 246-9222
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 2 at 8:06AM
MLS# FC321745
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.
This duplex contains two residences, each arranged with 3 bedrooms, 2 bathrooms, and open living and dining areas. A private 2-car garage serves each side. Interior finishes include quartz counters in the kitchens and bathrooms, hardwood flooring, and soft-close cabinetry with dovetail drawer construction and pull-out lower drawers. The 3,150-square-foot property was built in 2023 and occupies a 0.24-acre lot.
The rear of the property faces a canal. The zoning designation is DPX.
The rear of the property faces a canal. The zoning designation is DPX.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- 3,150 square feet on a 0.24‑acre lot
- Private 2‑car garage for each residence
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
$36,372
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
6.22%
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%
$727,440
$727.4K
Cap Rate 7%
$519,600
$519.6K
Cap Rate 9%
$404,133
$404.1K
Market Conditions
NOI Build-Up for 3,150 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
$54.8K $17.40/SF
− Vacancy
−$2.9K −$0.90/SF
EGI
$52.0K $16.50/SF
− OpEx
−$15.6K −$4.95/SF
NOI
$36.4K $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%
$727,440
Cap Rate 7%
$519,600
Cap Rate 9%
$404,133
Alternative Uses
Best Use
Multifamily LT 5
$519.6K
$454.7K – $606.2K
NOI $36,372 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$461.6K
$403.9K – $538.6K
NOI $32,314 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$757.0K
$662.4K – $883.1K
NOI $52,988 @ 7.0% cap · market cap 9.06%
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
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 32164, FL
49,412
Population
22,902
Households
2.2
Avg Household Size
48
Median Age
26%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
1,520
Density / Sq Mi
$71,738
Median Household Income
$37,976
Median Earnings
$1,724
Median Rent
$308,100
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 - Each residence has a private garage, and the property borders a canal.
Where is this duplex located?
The property is located at 51 PROVIDENCE Lane Palm Coast, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; 3,150 square feet on a 0.24‑acre lot; Private 2‑car garage for each residence
