33 Farnell Ln · Palm Coast, FL 32137

$358,700

4 bd · 2.0 ba · 1,882 sqft · Land · 82 Days on market

Built 2026 10,498 sqft lot

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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 +13.8/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• DSCR +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

Key facts

• Breakfast nook
• Real brick
• Quartz countertops

Tags

• REAL BRICK
• MODERN KITCHEN
• QUARTZ COUNTERTOPS
• BREAKFAST NOOK
• LARGE FAMILY ROOM
• PRIVATE OWNERS SUITE

Property features AI

Finance

• Other: Home warranty included; No lease restrictions indicated
• HOA & community: Development: Palm Harbor; Pets allowed

Exterior

• Parking: Attached 2-car garage (19 x 19)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Phone available; Broadband/high-speed internet available
• Home design: Single-family residence; One level; New construction (projected completion August 2026); Faces west
• Construction: Brick and frame construction; Shingle roof; Slab foundation; Built by Adams Homes of NW Florida, Inc (model 1820B)
• Exterior features: Covered rear porch; Exterior lighting; Paved public-maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; High ceilings; In-wall pest system; Stone counters
• Laundry & utility: Laundry room inside

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $359k.

Deal economics

• At list price, monthly cash flow is $34 ($414/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (24.1% below list).
• Recommended offer: $272k (24.1% 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: Old Kings Elementary School (math 74% / reading 72%, grade A, #271 of 2,144 statewide, top 13%, 979 students, 52% FRL); Matanzas High School (math 36% / reading 53%, grade F, #237 of 667 statewide, top 36%, 1,978 students, 48% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents flat; 1600 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 82 days — a 6% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $158k; list at $359k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,118 (24.1% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.38×
• Total profit: $-61,874
• Equity at exit: $53,483

10-year hold

• IRR: -14.0%
• Equity multiple: 0.26×
• Total profit: $-74,441
• Equity at exit: $31,014

Cash invested: $100,436 (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 32137

• Home prices YoY: -34.5%
• Rents YoY: 0.8%
• Active inventory: 1600
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,721 high
• Mortgage (P&I): −$1,881
• Tax from tax record: −$85 /mo · $1,017/yr
• Insurance: −$149
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $34

Break-even live

Break-even rent $2,678

Max offer price $358,700

Occupancy floor 94%

Sensitivity live

Price	-10% $238	-5% $136	+0% $34	+5% $-67	+10% $-169
Rent	-10% $-180	-5% $-73	+0% $34	+5% $142	+10% $249
Rate	-1.0pp $215	-0.5pp $126	base $34	+0.5pp $-58	+1.0pp $-153

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: $89,675
• Closing costs: $10,761
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Columbia Ln Unit A Palm Coast, FL	3.0	2.0	1260	$1,650	$1.31	24d	1	0.13mi
14 Colechester Ln Palm Coast, FL	3.0	2.0	2033	$3,000	$1.48	24d	1	0.21mi
59 Fallen Oak Ln Unit 1261618P Palm Coast, FL	3.0	3.0	1797	$3,355	$1.87	15d	1	0.21mi
30 Fenwick Ln Palm Coast, FL	3.0	2.0	1352	$1,800	$1.33	15d	1	0.43mi
9 Collinson Ct Palm Coast, FL	3.0	2.0	1276	$2,250	$1.76	3d	1	0.43mi
42 Farmsworth Dr Unit A Palm Coast, FL	3.0	2.0	1338	$1,995	$1.49	3d	1	0.50mi
13 Freemont Ct Palm Coast, FL	3.0	2.0	1637	$2,300	$1.41	3d	1	0.51mi
15 Crabtree Ct Unit B Palm Coast, FL	3.0	2.0	1500	$1,725	$1.15	15d	1	0.56mi
214 Coral Reef Ct N Unit B Palm Coast, FL	4.0	2.0	1300	$1,850	$1.42	3d	1	0.71mi
2 Cedar Ct Unit 1261623P Palm Coast, FL	5.0	4.0	2594	$7,839	$3.02	21d	1	0.73mi
10 Flametree Ct Palm Coast, FL	3.0	2.0	2581	$2,800	$1.08	3d	1	0.78mi
14 Cedarview Ct Palm Coast, FL	3.0	2.0	1462	$2,200	$1.50	24d	1	0.81mi
16 Cedarwood Ct Palm Coast, FL	4.0	3.0	2360	$6,000	$2.54	24d	1	0.82mi
77 Folcroft Ln Palm Coast, FL	3.0	2.0	2472	$2,600	$1.05	24d	1	0.87mi
28 Freneau Ln Palm Coast, FL	4.0	3.0	2478	$2,300	$0.93	24d	1	0.88mi
10 Cormorant Ct Palm Coast, FL	3.0	2.0	1902	$2,800	$1.47	11d	1	0.91mi
70 Forrester Pl Palm Coast, FL	3.0	2.0	1700	$2,000	$1.18	3d	1	0.92mi
1 Fanshawe Ln Unit 1B Palm Coast, FL	3.0	2.5	2085	$2,350	$1.13	24d	1	0.93mi
1 Fanshawe Ln Palm Coast, FL	3.0	2.5	2085	$2,350	$1.13	15d	1	0.93mi
20 Clarendon Ct N Palm Coast, FL	3.0	2.0	1883	$2,675	$1.42	3d	1	1.06mi
31 Folson Ln Palm Coast, FL	3.0	1.0	1481	$1,639	$1.11	24d	1	1.09mi
3 Cherokee Ct W Unit 1261596P Palm Coast, FL	3.0	2.0	2098	$4,582	$2.18	15d	1	1.20mi
70 Cochise Ct Palm Coast, FL	3.0	2.0	1916	$2,900	$1.51	19d	1	1.20mi
11 Birchtree Way Palm Coast, FL	3.0	2.0	1360	$1,800	$1.32	3d	1	1.25mi
25 Riverview Bnd N Unit 1546088P Palm Coast, FL	3.0	2.0	1819	$2,581	$1.42	15d	1	1.36mi
57 Florida Park Dr Palm Coast, FL	3.0	2.0	1966	$2,500	$1.27	15d	1	1.39mi
58 Comanche Ct Unit 1261614P Palm Coast, FL	3.0	2.0	2195	$5,998	$2.73	11d	1	1.39mi
7 Biltvue Pl Palm Coast, FL	3.0	2.0	2458	$2,250	$0.92	24d	1	1.40mi
24 Claridge Ct S Palm Coast, FL	3.0	2.0	1817	$3,600	$1.98	24d	1	1.44mi
11 Ferris Ln Palm Coast, FL	3.0	2.0	1500	$2,800	$1.87	3d	1	1.50mi

Listing history 35 events

1. 2026-06-18
   days on market $358,700 Active 82 DOM
2. 2026-06-17
   days on market $358,700 Active 81 DOM
3. 2026-06-16
   days on market $358,700 Active 80 DOM
4. 2026-06-15
   days on market $358,700 Active 79 DOM
5. 2026-06-14
   days on market $358,700 Active 77 DOM
6. 2026-06-13
   days on market $358,700 Active 76 DOM
7. 2026-06-10
   days on market $358,700 Active 74 DOM
8. 2026-06-09
   days on market $358,700 Active 73 DOM
9. 2026-06-08
   days on market $358,700 Active 72 DOM
10. 2026-06-07
    days on market $358,700 Active 71 DOM
11. 2026-06-03
    days on market $358,700 Active 67 DOM
12. 2026-06-02
    days on market $358,700 Active 66 DOM
13. 2026-06-01
    days on market $358,700 Active 65 DOM
14. 2026-05-31
    days on market $358,700 Active 64 DOM
15. 2026-04-12
    status Active
16. 2026-04-09
    status Pending
17. 2026-03-25
    listed $358,700 Active
18. 2025-02-27
    soldstatus $158,000
19. 2025-02-24
    soldstatus $79,000 Closed 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

20. 2025-01-13
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

21. 2024-12-20
    status Active 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

22. 2024-12-10
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

23. 2024-05-15
    status Active 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

24. 2024-04-18
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

25. 2024-03-01
    status Active 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

26. 2024-01-25
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

27. 2023-11-09
    listed $82,000 Active 384-char remark

    Show marketing remark (384 chars)

    Palm Harbor neighborhood DUPLEX lot with clean soil test READY TO BUILD! This is 1 of 2 DUPLEX LOTS for sale!! Buy one OR buy both and own side by side investment pieces!! Great proximity to marina, schools, shopping and our hometown BEACH is located only 6 miles away! Easy access to I95 for easy commuting to neighboring cities of Daytona and St Augustine. Buy today smile tomorrow!

28. 2023-10-06
    historical
29. 2023-07-11
    price $85,000
30. 2023-04-05
    listed $89,900 Active
31. 2021-12-28
    soldstatus $138,000
32. 2021-12-20
    soldstatus $69,000
33. 2021-03-08
    listed $74,900
34. 2005-09-22
    soldstatus $137,000
35. 1986-12-01
    soldstatus $15,500

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,017 · $85/mo
• Projected year-2 tax: $2,977 · $248/mo
• Expected delta: +$1,961/yr (+$163/mo · 192.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 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: $32,654
• − Mortgage interest: −$20,093
• − Property taxes: −$1,017
• − Insurance: −$1,794
• − Repairs & maintenance: −$2,612
• − Management: −$2,612
• − Depreciation: −$10,435
• Taxable loss: −$5,908
• Est. tax savings @ 24.0%: +$1,418
• After-tax cash flow: $1,832/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.

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): 48,391
• Household income: $83,923
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 816.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 4% Russian 2% Lithuanian 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -153.27%
• Current HPI: 290.4607
• Rent YoY: ▲ 0.85%
• 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

+2214.2% since first listed

21 events — show timeline

• 2026-04-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Listed $358,700 Stellar MLS as Distributed by MLS Grid
• 2025-02-27 Sold (Public Records) $158,000 Public Records
• 2025-02-24 Sold (MLS) $79,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-12-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-12-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-05-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-04-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-03-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-01-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-11-09 Listed $82,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-07-11 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2023-04-05 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2021-12-28 Sold (Public Records) $138,000 Public Records
• 2021-12-20 Sold (MLS) $69,000 Stellar MLS as Distributed by MLS Grid
• 2021-03-08 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 2005-09-22 Sold (Public Records) $137,000 Public Records
• 1986-12-01 Sold (Public Records) $15,500 Public Records

Property tax history

+12.4%/yr

Latest (2025): $1,017 · +12.1% YoY. Source: county tax records.