Two-Unit Duplex with New
For Sale
$325,000
1306 SE 40th Terrace, Cape Coral, FL 33904
ResidentialIncome, Cape Coral, FL
Property Size1,896 SF
Lot Size0.23 Acres
Price / SF$171.41
Days on Market10
Property Features for 1306 SE 40th Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RML
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3
Patio and Porch features
Patio
Pets allowed
Yes
Exterior features
Patio
Subdivision
CAPE CORAL
Lot features
Rectangular Lot
Standard status
Active
APN
07-45-24-C2-00313.0030
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 7 BLK 313 PB 12 PG 123 LOTS 3 + 4
Tax Annual Amount
5246
Legal Description
CAPE CORAL UNIT 7 BLK 313 PB 12 PG 123 LOTS 3 + 4
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Amenities
screened lanai and porch
Building Details
Year built
1964
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Compass Florida LLC
(239) 268-8976
Listed By:
Mike Darda · License #252000001
(239) 256-3733
Added: Aug 19
Changed: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# 2026035222
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1306 SE 40th Terrace in Cape Coral, this block, concrete, and stucco duplex contains 1,896 SF across two matching residences. Each unit has 2 bedrooms and 2 bathrooms, with tile flooring, a kitchen equipped with a range, refrigerator, dishwasher, and built-in cabinetry, plus a screened lanai and porch. The property sits on 0.23 acres and includes paved parking and outdoor space.
Both units are connected to central public water and public sewer and are served by central electric heating and cooling. A shingle roof was installed in March 2026. The SE Cape Coral setting is near shopping, dining, entertainment, schools, and major roadways, with Bimini Square, The Cove at 47th, Slipaway Marina, and the Yacht Club Community Park redevelopment identified nearby.
Both units are connected to central public water and public sewer and are served by central electric heating and cooling. A shingle roof was installed in March 2026. The SE Cape Coral setting is near shopping, dining, entertainment, schools, and major roadways, with Bimini Square, The Cove at 47th, Slipaway Marina, and the Yacht Club Community Park redevelopment identified nearby.
Key Highlights
- Two‑unit duplex with 1,896 SF total living area
- Each unit offers 2 bedrooms and 2 bathrooms
- Shingle roof installed in March 2026
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
$25,096
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
7.72%
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%
$501,920
$501.9K
Cap Rate 7%
$358,514
$358.5K
Cap Rate 9%
$278,844
$278.8K
Market Conditions
NOI Build-Up for 1,896 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
$37.5K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.9K $18.91/SF
− OpEx
−$10.8K −$5.67/SF
NOI
$25.1K $13.24/SF
Area
Cape Coral, FL
Vacancy
4.50%
Lease Rate
$19.80 /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%
$501,920
Cap Rate 7%
$358,514
Cap Rate 9%
$278,844
Alternative Uses
Best Use
Multifamily LT 5
$358.5K
$313.7K – $418.3K
NOI $25,096 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$332.2K
$290.7K – $387.6K
NOI $23,257 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,437 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
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 - Well-maintained duplex with matching two-bedroom residences, private screened lanais, tile floors, and central public utilities.
Where is this duplex located?
The property is located at 1306 SE 40th Terrace Cape Coral, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,896 SF total living area; Each unit offers 2 bedrooms and 2 bathrooms; Shingle roof installed in March 2026
