118 TEA OLIVE DRIVE, PALM COAST, FL, 32137
Active5 days on marketListed Jul 28, 2026MLS #FC320240
About this home
118 TEA OLIVE DRIVE
This stunning, single-story home showcases 4 bedrooms, 2 bath and an extended garage with a pond view. Inside, discover an open floor plan with volume ceilings, luxury vinyl flooring throughout and a spacious great room. The kitchen boasts luxury vinyl flooring, Woodmont® cabinets, granite countertops, island and Whirlpool® stainless steel appliances. The primary suite features a large walk-in closet and connecting bath that offers quartz countertops, and a dual-sink vanity. Other highlights include ENERGY STAR® certified lighting, Moen® faucets, Kohler® sinks and a smart thermostat. Enjoy your pond view on the extended covered back patio. KB Home at Somerset includes a brand-new playground, dog park and pool! Closing cost assistance available on this home.
Facts & features
The home at a glance
4
Bedrooms
2
Bathrooms
1,707
Sqft
0.2 ac
Lot size
2
Garage
2026
Year built
One
Levels
$204
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record and the real association fee — not generic estimates.
$2,402 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$2,722/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Estimates only — taxes at 1.1%/yr and typical insurance; your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
vs edgeAI estimate
+5.4%
$/sqft vs Palm Coast actives
$204 vs $221
Days on market
5 vs 47 typical
Where $204/sqft sits among the 400 Palm Coast actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
The investor lens
Two ways this home pays
This home sits inside Somerset, a community zoned to allow true short-term rentals — so it can earn as a nightly rental or a traditional lease. Here’s how the two paths compare.
Short-term rental
Zoned & eligible
Projected nightly rate, occupancy and annual revenue for this exact home.
Long-term rental
$1,995/mo median
Live Palm Coast rental listing data — this home’s rate depends on size, condition and furnishing.
Where it sits
Inside Somerset
Somerset is a short-term-rental community. See the full guide →
PALM COAST 32137 — neighborhood snapshot
Population
47,003
Median age
56.5
Median income
$78,731
Median home value
$360,600
Avg household
2.3
Households w/ children
3,437
For the school run
Flagler County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Palm Coast market
$353K → $373K
Palm Coast median sold, yr/yr
96.9%
Sale-to-list ratio (12 mo)
168 of 400
Palm Coast actives have cut their price
Median sold price, Palm Coast, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 8% below the PALM COAST 32137 median. See the full Palm Coast market guide →
Paper trail
This home's history
Reality check
What actually sold near 118 TEA OLIVE DRIVE
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Aug ’25$445,990
52 CAMELLIA STREET · same community
3 bd · 2 ba · 1,638 sqft · $272/sqft · 143 DOM
Sold · Aug ’25$300,000
34 CAMELLIA STREET · same community
3 bd · 2 ba · 1,541 sqft · $195/sqft · 177 DOM
Sold · May ’26$312,500
26 CAMELLIA STREET · same community
4 bd · 2 ba · 2,003 sqft · $156/sqft · 404 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
John Carpenter
CFO/Broker · CENTURY 21 Edge
Tours, negotiation, and every question about 118 TEA OLIVE DRIVE — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 118 TEA OLIVE DRIVE — before you fall in love.
See it in person
Schedule a tour
Live availability from John's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.
Straight answers
118 TEA OLIVE DRIVE FAQs
What would the monthly payment be for 118 TEA OLIVE DRIVE?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $2,402/mo — principal and interest, estimated property taxes, the $33/mo association fee and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
How much are the HOA fees at 118 TEA OLIVE DRIVE?+
The association fee works out to $33 per month. Ask us for the full association documents — they spell out exactly what the fee covers.
What are the property taxes on 118 TEA OLIVE DRIVE?+
The most recent tax bill on record (2026) was $0. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Can 118 TEA OLIVE DRIVE be rented short-term?+
Yes — this home sits inside Somerset, a community zoned to allow short-term rentals. Nightly-rental income could change the math on this purchase entirely; request a free rental income analysis and our team will prepare projections for this exact home.
Are pets allowed at 118 TEA OLIVE DRIVE?+
The listing reports pets: Yes. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Palm Coast?+
At $348,990, this home is listed about 12% below the Palm Coast median of $395,000. The market section on this page shows how the area is trending.
Which schools are assigned to 118 TEA OLIVE DRIVE?+
Matanzas High School (high), Indian Trails Middle School (middle), Old Kings Elementary School (elementary) — Flagler County School District. Always verify school assignments with the district before relying on them.
The brief
Four things that matter here
01Under the PALM COAST 32137 market on paper
$348,990 is 8% below the PALM COAST 32137 median of $380,000, and at $204/sqft it sits under the Palm Coast average of $257.
02Zoned for nightly rentals
Somerset is one of the communities zoned to allow true short-term rentals — nightly income could change the math on this purchase entirely. Ask for the free rental analysis below.
03Fresh on the market
Only 5 days on market in a Palm Coast market that averages 47 — if it fits, move quickly.
04Strong assigned schools
Matanzas High School, Indian Trails Middle School, Old Kings Elementary School — Matanzas High School rates 4 of 5. Always verify assignments with the district.
Keep looking
Similar homes nearby
Listing courtesy of ROUND TABLE REALTY · Keith Francis. MLS #FC320240.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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