3 Prosperity Ln Unit A/B · Palm Coast, FL 32164

$419,000

6 bd · 4.0 ba · 2,732 sqft · MultiFamily · 94 Days on market

Built 2003 Good condition 0.34 ac lot Est $484k · 13% under ↓ 7% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.6/30.0
• ARV discount +13.5/15.0
• Schools +4.6/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Full concrete block duplex offering two spacious units, each with 3 bedrooms, 2 bathrooms, 1,300+ living square feet, and a 1-car garage. Excellent investment opportunity with strong rental potential or ideal for owner-occupant living in one unit while leasing the other. Convenient Palm Coast location close to schools, shopping, dining, and with easy access to I-95 for commuters. Solid construction, functional floor plans, and desirable location make this a great addition to any portfolio.

Key facts

• Solid construction
• 0.34 acre lot
• 2 garage spots

Tags

• CONVENIENT PALM COAST LOCATION
• STRONG RENTAL POTENTIAL
• SOLID CONSTRUCTION
• FUNCTIONAL FLOOR PLANS

Property features AI

Finance

• Other: Living area reported as 2,732 square feet total; Each unit listed at approximately 1,366 heated square feet; Lot size approximately 0.34 acres (about 1,384 sq meters)
• Financial info: Property listed as residential income with two rental units; Each unit pro forma rent listed at $1,500; Annual net income recorded as $0.00 in listing data
• HOA & community: No homeowners association

Exterior

• Parking: Two garage spaces total (each unit has one attached garage)
• Utilities: Public water; Public sewer and holding tank; Electricity connected; Cable available; Water connected
• Home design: Duplex (residential income property); Single-story; One building containing both units; Zoned DPX
• Construction: Concrete and stucco construction; Shingle roof; Slab foundation; Built as a duplex (two units)
• Exterior features: Paved road access; Located on approximately 0.34 acre lot; Part of the Belle Terre development

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Six total bedrooms (configured as two 3-bedroom units)
• Bathrooms: Two full bathrooms in each unit
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry located in garage

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $419k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $23 ($272/yr) — positive. Per door: $11/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $369k (11.8% below list).
• Recommended offer: $369k (11.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.8% in Palm Coast — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lewis E. Wadsworth Elementary (math 54% / reading 57%, grade C, #855 of 2,144 statewide, top 41%, 743 students, 68% FRL); Buddy Taylor Middle School (math 50% / reading 45%, grade C-, #288 of 571 statewide, top 51%, 1,343 students, 63% FRL); Flagler-Palm Coast High School (math 36% / reading 51%, grade F, #248 of 667 statewide, top 38%, 2,523 students, 52% FRL).
• Market conditions: Rents rising (+1.2%/yr); 1380 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• At $3,694/mo this rent would consume 58% of the median local household income ($76k/yr) (locally 1291% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($381k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $369,400 (11.8% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $483,564
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Prospect Ln	0.09mi	6/4.0	2,462 (-10%)	6mo	$370,000	$150	74
47 Providence Ln	0.08mi	6/4.0	2,376 (-13%)	6mo	$540,000	$227	70
11 Prospect Ln	0.11mi	6/4.0	2,400 (-12%)	12mo	$543,000	$226	64
9 Plateau Ln	0.40mi	6/4.0	2,601 (-5%)	22mo	$410,000	$158	55
155 Plain View Dr Unit A&B	0.49mi	6/4.0	2,394 (-12%)	2mo	$405,000	$169	55
20 Pine Hill Ln	0.68mi	6/4.0	2,956 (+8%)	4mo	$550,000	$186	51
36 Pine Haven Dr	0.62mi	6/4.0	2,574 (-6%)	18mo	$514,900	$200	47
18 Pine Hurst Ln Unit A&B	0.73mi	6/4.0	2,503 (-8%)	9mo	$372,000	$149	44
35 Pine Hill Ln Unit A	0.66mi	6/4.0	2,464 (-10%)	12mo	$435,000	$177	43
17 Pine Hurst Ln Unit A & B	0.70mi	6/4.0	2,460 (-10%)	16mo	$430,000	$175	37
8 Pine Hill Ln	0.68mi	6/4.0	2,400 (-12%)	23mo	$455,000	$190	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.18% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.38×
• Total profit: $-73,042
• Equity at exit: $62,474

10-year hold

• IRR: -14.1%
• Equity multiple: 0.25×
• Total profit: $-87,806
• Equity at exit: $36,227

Cash invested: $117,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32164

• Home prices YoY: -6.3%
• Rents YoY: 1.2%
• Active inventory: 1380
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,694 high
• Mortgage (P&I): −$2,197
• Tax est. 1.5%: −$524 /mo · $6,285/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$776
• Net cashflow: $23

Break-even live

Break-even rent $3,665

Max offer price $419,000

Occupancy floor 94%

Sensitivity live

Price	-10% $312	-5% $167	+0% $23	+5% $-122	+10% $-267
Rent	-10% $-269	-5% $-123	+0% $23	+5% $169	+10% $314
Rate	-1.0pp $234	-0.5pp $129	base $23	+0.5pp $-86	+1.0pp $-196

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,694
Total (2 units)			$3,694

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
75 Raleigh Dr Palm Coast, FL	5.0	3.0	2000	$2,350	$1.18	21d	1	0.98mi
20 Wheeler Ln Palm Coast, FL	5.0	3.0	2508	$2,500	$1.00	25d	1	1.24mi

Listing history 17 events

1. 2026-06-21
   days on market $419,000 Active 94 DOM
2. 2026-06-18
   days on market $419,000 Active 91 DOM
3. 2026-06-17
   days on market $419,000 Active 90 DOM
4. 2026-06-16
   days on market $419,000 Active 89 DOM
5. 2026-06-15
   days on market $419,000 Active 88 DOM
6. 2026-06-14
   days on market $419,000 Active 86 DOM
7. 2026-06-13
   days on market $419,000 Active 85 DOM
8. 2026-06-10
   days on market $419,000 Active 83 DOM
9. 2026-06-09
   days on market $419,000 Active 82 DOM
10. 2026-06-08
    days on market $419,000 Active 81 DOM
11. 2026-06-07
    days on market $419,000 Active 80 DOM
12. 2026-06-03
    days on market $419,000 Active 76 DOM
13. 2026-06-02
    days on market $419,000 Active 75 DOM
14. 2026-06-01
    days on market $419,000 Active 74 DOM
15. 2026-05-31
    days on market $419,000 Active 73 DOM
16. 2026-05-08
    price $419,000
17. 2026-03-19
    listed $449,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,328
• − Mortgage interest: −$23,471
• − Property taxes: −$6,285
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,546
• − Management: −$3,546
• − Depreciation: −$12,189
• Taxable loss: −$6,804
• Est. tax savings @ 24.0%: +$1,633
• After-tax cash flow: $1,905/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

A well-maintained, move-in-ready duplex with good condition and potential for rental or resale appreciation through minor cosmetic updates.

Value-add opportunities

• Both Painting interior and exterior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping and tree trimming — Improved landscaping increases curb appeal and property value.
• Rental HVAC maintenance — A clean and efficient HVAC system improves tenant satisfaction and reduces maintenance costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting interior and exterior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and tree trimming — Improved landscaping increases curb appeal and property value. ↑
• Rental HVAC maintenance — A clean and efficient HVAC system improves tenant satisfaction and reduces maintenance costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Palm Coast

• Score: 69/100
• State rank: #478
• US rank: #8721

Category grades

Amenities F Commute F Cost of living B+ Crime B Employment C+ Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Coast, FL
• County: Flagler County · 113,412 people
• City population: 105,049
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• Population (ZIP): 56,658
• Household income: $76,399
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 1291.0

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 14% Black 13% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 3% Russian 2% Slovak 2%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Indo-European 3%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.89%
• Current HPI: 297.4942
• Rent YoY: ▲ 1.18%
• Metro: Deltona-Daytona Beach-Ormond Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-6.8% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $419,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-19 Listed $449,500 Stellar MLS as Distributed by MLS Grid