2019 Duplex with Covered
For Sale
$538,000
7 Empire Ln, Palm Coast, FL 32164
Two matching residences offer durable finishes, private outdoor space, attached garages, and convenient access to shopping and recreation.
Property Size2,381 SF
Price / SF$225.96
Days on Market16
Property Features for 7 Empire Ln
General Information
Standard status
Active
Size
2,381 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,363
Building Details
Year Built
2019
Buildings
1
Listing Agency:
One Sotheby's International Realty
(386) 276-9200
Listed By:
Johanna Sawdai · License #684946
(386) 569-3328
Source:
Exprealty
Added: Aug 22
Changed: Sep 6
Last Checked: Sep 5 at 11:02AM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 2019, this duplex contains 2,381 square feet with two closely matched residences, each offering three bedrooms, two bathrooms, an attached garage, and a covered lanai. Interior features include tile flooring, granite and solid surface countertops, upgraded cabinetry, large pantries, recessed ceilings, decorative glass-entry doors, and walk-in closets in every bedroom. Washers and dryers are included in both units. The property sits on an oversized fenced lot at 7 Empire Lane in Palm Coast’s Cypress Knoll area, on a street of newer homes. Publix, nearby shopping, and the Southern Recreation Center—with tennis and pickleball facilities—are approximately one-half mile away. Unit A and Unit B share the same floor plan and finishes, while Unit A’s garage is approximately 1'4" deeper.
Key Highlights
- 2019‑built duplex with 2,381 square feet
- Two matching 3‑bedroom, 2‑bath residences
- Oversized fenced lot with private covered lanais
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
$27,493
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
5.11%
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%
$549,860
$549.9K
Cap Rate 7%
$392,757
$392.8K
Cap Rate 9%
$305,478
$305.5K
Market Conditions
NOI Build-Up for 2,381 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
$41.4K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$39.3K $16.50/SF
− OpEx
−$11.8K −$4.95/SF
NOI
$27.5K $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%
$549,860
Cap Rate 7%
$392,757
Cap Rate 9%
$305,478
Alternative Uses
Best Use
Multifamily LT 5
$392.8K
$343.7K – $458.2K
NOI $27,493 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$348.9K
$305.3K – $407.1K
NOI $24,425 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$572.2K
$500.7K – $667.5K
NOI $40,052 @ 7.0% cap · market cap 7.44%
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
177
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
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 matching residences offer durable finishes, private outdoor space, attached garages, and convenient access to shopping and recreation.
Where is this duplex located?
The property is located at 7 Empire Ln Palm Coast, FL.
What is the asking price?
The asking price for this property is $538,000.
What are key features of this property?
This property features: 2019‑built duplex with 2,381 square feet; Two matching 3‑bedroom, 2‑bath residences; Oversized fenced lot with private covered lanais
