Two-Unit
For Sale
$540,000
A-168 Fenimore Ln, Palm Coast, FL 32137
Both residences offer matching three-bedroom, two-bath layouts and a one-car garage.
Property Size2,429 SF
Price / SF$222.31
Days on Market12
Property Features for A-168 Fenimore Ln
General Information
Standard status
Active
Size
2,429 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,884
Amenities
granite counter tops
stainless steel appliances
ceiling fans
screened patio
privacy fence
extra tall cabinets
pantry
walk-in closet
tile flooring
Building Details
Year Built
2022
Listing Agency:
GRAND LIVING REALTY
(386) 447-0800
Listed By:
Shari Leigh Murriello · License #3040005
(561) 762-1828
Source:
Exprealty
Added: Sep 21
Changed: Sep 29
Last Checked: Oct 1 at 12:19PM
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 GRAND LIVING REALTY
Investment Insights
Based on property information with market context.
Built in 2022, this duplex contains two mirrored residences, each with three bedrooms, two bathrooms, and a one-car garage. The property totals 2,429 square feet. Tile flooring runs throughout both units, and each kitchen includes granite countertops, stainless steel appliances, tall cabinets, and a pantry. Walk-in closets serve the primary bedrooms, while ceiling fans are installed in the living rooms, bedrooms, and patios.
Each residence also has a screened patio and a backyard enclosed by a privacy fence. The property is in Palm Coast, Florida.
Each residence also has a screened patio and a backyard enclosed by a privacy fence. The property is in Palm Coast, Florida.
Key Highlights
- Two mirrored units, each with 3 bedrooms and 2 bathrooms
- 2,429 square feet total
- One‑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
$28,047
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
5.19%
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%
$560,940
$560.9K
Cap Rate 7%
$400,671
$400.7K
Cap Rate 9%
$311,633
$311.6K
Market Conditions
NOI Build-Up for 2,429 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
$42.3K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$40.1K $16.50/SF
− OpEx
−$12.0K −$4.95/SF
NOI
$28.0K $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%
$560,940
Cap Rate 7%
$400,671
Cap Rate 9%
$311,633
Alternative Uses
Best Use
Multifamily LT 5
$400.7K
$350.6K – $467.5K
NOI $28,047 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$356.0K
$311.5K – $415.3K
NOI $24,918 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$583.7K
$510.8K – $681.0K
NOI $40,860 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
100
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 - Both residences offer matching three-bedroom, two-bath layouts and a one-car garage.
Where is this duplex located?
The property is located at A-168 Fenimore Ln Palm Coast, FL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two mirrored units, each with 3 bedrooms and 2 bathrooms; 2,429 square feet total; One‑car garage for each residence
