Tile-Roof
For Sale
Under Contract
$455,000
87 PONY EXPRESS Drive, Palm Coast, FL 32164
Residential Income, PALM COAST, FL
Property Size2,592 SF
Lot Size0.23 Acres
Price / SF$175.54
Days on Market11
Property Features for 87 PONY EXPRESS Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
DPX
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bathroom 2
Window features
Blinds
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Thermostat, Walk-In Closet(s)
Exterior features
Private Mailbox
Subdivision
PINE GROVE
Directions
Belle Terre Pkwy to Ponce de Leon to Pony Express Dr
Standard status
Active Under Contract
APN
07-11-31-7028-00100-0040
Size
2,592 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM COAST SECTION 28 BLOCK 00010 LOT 0004 SUBDIVISION COMPLETION YEAR 1980 OR 205 PG 703 OR 885 PG 564 OR 1051 PG 814 OR 1683/898-SA OR 1686/ 1564-DC
Tax Annual Amount
6428
Legal Description
PALM COAST SECTION 28 BLOCK 00010 LOT 0004 SUBDIVISION COMPLETION YEAR 1980 OR 205 PG 703 OR 885 PG 564 OR 1051 PG 814 OR 1683/898-SA OR 1686/ 1564-DC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
screened porch
Building Details
Year built
2004
Floors in Building
1
Building materials
Block, Stucco
Roof type
Tile
Listing Agency:
VIRTUAL HOMES REALTY
(386) 569-5383
Listed By:
Alina Pekarsky · License #3118291
(386) 569-5383
Added: Aug 19
Changed: Aug 25
Last Checked: Aug 29 at 2:06PM
MLS# FC320691
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.
Built in 2004, this duplex contains 2,592 square feet on a 0.23-acre parcel in Palm Coast. Each residence provides 3 bedrooms, 2 bathrooms, a 1-car garage, tile flooring, a screened porch, a walk-in closet, and thermostat control. The building has block and stucco construction beneath a tile roof, with central air and electric heat pump systems serving the property.
Both units are currently occupied, providing an established rental setup for the next owner. The property is zoned DPX and connected to public water and public sewer, with cable available. Additional features include private mailboxes and convenient residential layouts suited to income-producing ownership.
Both units are currently occupied, providing an established rental setup for the next owner. The property is zoned DPX and connected to public water and public sewer, with cable available. Additional features include private mailboxes and convenient residential layouts suited to income-producing ownership.
Key Highlights
- 2,592 square feet on a 0.23‑acre parcel
- Two occupied units, each with 3 bedrooms and 2 bathrooms
- Each side includes a 1‑car garage and screened porch
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
$29,929
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
6.58%
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%
$598,580
$598.6K
Cap Rate 7%
$427,557
$427.6K
Cap Rate 9%
$332,544
$332.5K
Market Conditions
NOI Build-Up for 2,592 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
$45.1K $17.40/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$42.8K $16.50/SF
− OpEx
−$12.8K −$4.95/SF
NOI
$29.9K $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%
$598,580
Cap Rate 7%
$427,557
Cap Rate 9%
$332,544
Alternative Uses
Best Use
Multifamily LT 5
$427.6K
$374.1K – $498.8K
NOI $29,929 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$379.9K
$332.4K – $443.2K
NOI $26,590 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$622.9K
$545.0K – $726.7K
NOI $43,602 @ 7.0% cap · market cap 9.58%
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
Location Intelligence
Trade Area within ½ mile
113
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 - Occupied residences offer comfortable layouts, private garages, screened porches, and durable tile flooring throughout.
Where is this duplex located?
The property is located at 87 PONY EXPRESS Drive Palm Coast, FL.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 2,592 square feet on a 0.23‑acre parcel; Two occupied units, each with 3 bedrooms and 2 bathrooms; Each side includes a 1‑car garage and screened porch
