Overview
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Pricing, comps, HOA, the neighborhood. Answers before you fill out anything.
New construction · 2026
Different rules apply when you buy new
Build snapshot
- Build year
- 2026
- Builder
- Ask the team — not on MLS
- Community
- SOMERSET AT PALM COAST PARK
- Type
- Single Family Residence
True monthly carry
- HOA
- ~$33/mo
- CDD bond
- Yes — typically $1,500–$3,500/yr
- Builder incentives
- Ask — change weekly
What we'll do for you on a new build
Builder contract redlines
Builder contracts favor the builder. We mark up the clauses you should push back on before you sign.
11-month inspection
Your 1-year warranty expires quietly. We book an independent inspection at month 11 — saves $5K+ on average in caught defects.
Verified incentives
We verify the current builder incentives every time we walk a community. Rate buy-downs, design-center credits, closing costs — all itemized.
CDD heads-up.This community is in a Community Development District — there's a separate annual bond payment ($1,500–$3,500 typical) on top of HOA that builders often roll into the mortgage statement. Worth knowing before you write an offer.
About this home
118 Tea Olive Dr is a 2026-built home in Somerset At Palm Coast Park, Palm Coast. Inside you'll find 4 bedrooms, 2 bathrooms, and 1,707 square feet of living space. Listed at $337,990 (about $198/sqft), 81 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable. HOA runs $98 quarterly.
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.
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The essentials
At a glance
Payment
Details
Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
Price history
Neighborhood
Market insights
Offer Insights
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Sample: 506 closed home sales in 32137 over the last 8 months, Stellar MLS. A starting point, not a guarantee.
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Property taxes estimated at 1.55% of price a year. Insurance estimated at 0.60%. HOA includes any condo dues reported on the listing. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$337,990
$198 per sq ft
Beds and baths
4 beds, 2 baths
Size
1,707 sq ft
Time on market
81 days
Year built
2026
Monthly payment
About $2,402/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $0 annual tax bill, insurance, and the $98/qtr HOA fee.
HOA fee
$98/qtr
Managed by Sovereign & Jacobs.
Flood zone
Zone X
That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.
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