Two-Unit Duplex with
For Sale
$359,555
Pending
59 WELLWOOD Lane, Palm Coast, FL 32137
Residential Income, PALM COAST, FL
Property Size2,276 SF
Lot Size0.25 Acres
Days on Market152
Property Features for 59 WELLWOOD Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
DPX
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 2
Patio and Porch features
Porch
Interior features
Ceiling Fans(s), Window Treatments
Exterior features
Sliding Doors
Appliances
Dishwasher, Range, Refrigerator
Subdivision
PINE LAKES
Lot features
Conservation Area
Directions
Palm Coast Parkway SW make left onto Pine Lakes Pkwy to left on Wellwater to left on Wellwood.
Standard status
Pending
APN
07-11-31-7021-00010-0180
Size
2,276 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Palm Coast Sec 21 Blk 1 Lot 18
Tax Annual Amount
4656
Legal Description
Palm Coast Sec 21 Blk 1 Lot 18
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Flooring type
Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
REALTY EXCHANGE, LLC
(386) 446-0017
Listed By:
Rosemarie Tallaksen · License #650157
(386) 931-3434
Added: Apr 2
Changed: Aug 20
Last Checked: Aug 31 at 7:06PM
MLS# FC317405
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 2,276-square-foot duplex contains two residences, with each unit offering 2 bedrooms, 2 full bathrooms, a one-car garage, and a screened porch. Tile flooring, ceiling fans, window treatments, central heating, and central air support everyday functionality. The property also includes a dishwasher, range, and refrigerator in each unit, along with stucco construction and a shingle roof.
Set on a 0.25-acre lot in the Pine Lakes subdivision of Palm Coast, the property is approximately 7 miles from the beach and provides access to shopping, dining, parks, and golf. DPX zoning, public water, public sewer, and cable availability are also reported. Built in 1988, the duplex offers a defined two-unit configuration within a residential setting.
Set on a 0.25-acre lot in the Pine Lakes subdivision of Palm Coast, the property is approximately 7 miles from the beach and provides access to shopping, dining, parks, and golf. DPX zoning, public water, public sewer, and cable availability are also reported. Built in 1988, the duplex offers a defined two-unit configuration within a residential setting.
Key Highlights
- Two units, each with 2 bedrooms, 2 full bathrooms, and a one‑car garage
- 2,276 square feet on a 0.25‑acre lot
- Screened porch at each unit with sliding doors
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
$26,280
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
7.31%
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%
$525,600
$525.6K
Cap Rate 7%
$375,429
$375.4K
Cap Rate 9%
$292,000
$292.0K
Market Conditions
NOI Build-Up for 2,276 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
$39.6K $17.40/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$37.5K $16.50/SF
− OpEx
−$11.3K −$4.95/SF
NOI
$26.3K $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%
$525,600
Cap Rate 7%
$375,429
Cap Rate 9%
$292,000
Alternative Uses
Best Use
Multifamily LT 5
$375.4K
$328.5K – $438.0K
NOI $26,280 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$333.5K
$291.9K – $389.1K
NOI $23,348 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$546.9K
$478.6K – $638.1K
NOI $38,286 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
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 - Each residence includes a private garage, screened porch, tile flooring, and access to public water and sewer.
Where is this duplex located?
The property is located at 59 WELLWOOD Lane Palm Coast, FL.
What is the asking price?
The asking price for this property is $359,555.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 2 full bathrooms, and a one‑car garage; 2,276 square feet on a 0.25‑acre lot; Screened porch at each unit with sliding doors
