Canal-View
New
For Sale
$585,000
51 PROVIDENCE LANE A B, Palm Coast, FL 32164
Both residences are occupied and feature private two-car garages.
Property Size3,150 SF
Price / SF$185.71
Days on Market4
Property Features for 51 PROVIDENCE LANE A B
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Duplex
Amenities
0.24 acres, Dimensions: irregular
Shingle
Holding Tank, Public Sewer
Additional parcels description:, Parcel Number: 07-11-31-7024-00540-0220, Public Survey Range: 31E, Public Survey Section: 07, Annual Amount: $7,165, Tax Block: 54, Tax Book Number: 325, Legal Description: PALM COAST SECTION 24 BLOCK 00054 LOT 0022 SUBDIVISION COMPLETION YEAR 1980 OR 241 PG 325 OR 2110/202, Lot: 22, Year: 2025, Zoning: DPX
Ceramic Tile, Laminate
4 spaces
Central Air
Central, Electric, Heat Pump
Inside
Listing ID: MFRFC321745, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-30, 1 day on market, Special Conditions: None
Elementary School: Wadsworth Elementary, Middle School: Buddy Taylor Middle, High School: Flagler-Palm Coast High
Aluminum Frames
6 total bedrooms
Built in 2023, Living area: 3150, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco
Subdivision: PALM COAST SEC 24, MLS Area (Major): 32164 - Palm Coast, County/Parish: Flagler
Completed, City
4 total bathrooms
Cable Connected, Electricity Connected, Phone Available, Sewer Connected, Water Connected, Water Source: Public, 2 separate electric meters, 2 separate water meters
Slab
Close Of Escrow
Allowed: Cats OK, Dogs OK
Electricity, Water
Road Responsibility: Public Maintained Road, Road Surface: Asphalt, Paved
Patio/Porch Features: Front Porch, Rear Porch
Ceiling Fans(s), Solid Surface Counters, Walk-In Closet(s)
Smoke Detector(s)
Dishwasher, Disposal, Electric Water Heater, Microwave, Range, Refrigerator
Building Details
Year Built
2023
Listing Agency:
APEX REALTY LLC
(386) 986-5053
Listed By:
Elena Tchoumakova · License #3228404
(386) 246-9222
Source:
Miharaandassociates
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 2 at 11:13PM
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 APEX REALTY LLC
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residences, each arranged with three bedrooms, two bathrooms, and open living and dining areas. Both units have private two-car garages, and the property sits on a canal lot with water views.
Interior finishes include quartz countertops in the kitchens and bathrooms, hardwood flooring, and soft-close cabinetry with dovetail drawer construction and pull-out lower drawers. Both residences are currently occupied.
Interior finishes include quartz countertops in the kitchens and bathrooms, hardwood flooring, and soft-close cabinetry with dovetail drawer construction and pull-out lower drawers. Both residences are currently occupied.
Key Highlights
- Two occupied residences, each with a 3‑bedroom, 2‑bathroom layout
- Built in 2023 on a canal lot with canal views
- Private 2‑car garage 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
$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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and feature private two-car garages.
Where is this duplex located?
The property is located at 51 PROVIDENCE LANE A B 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 occupied residences, each with a 3‑bedroom, 2‑bathroom layout; Built in 2023 on a canal lot with canal views; Private 2‑car garage for each unit
