Renovated Duplex with
New
For Sale
$775,000
13511 Siesta Pines Ct, Fort Myers, FL 33908
MULTI_FAMILY - Other - FORT MYERS, FL
Property Size3,938 SF
Lot Size0.33 Acres
Price / SF$196.80
Days on Market4
Property Features for 13511 Siesta Pines Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 6
Pets allowed
Yes
Subdivision
SIESTA PINES
Lot features
Cul-De-Sac, Cul-De-Sac
Standard status
Active
APN
02-46-23-06-00000.0090
Size
3,938 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SIESTA PINES PB 34 PG 34 LOT 9
Tax Annual Amount
7534
Legal Description
SIESTA PINES PB 34 PG 34 LOT 9
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Building Details
Year built
1993
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
William McGreevy, Jr.
(239) 784-6141
Added: Aug 3
Changed: Aug 6
Last Checked: Aug 6 at 12:06PM
MLS# 226028362
Copyright © 2026 Naples Area Board of REALTORS. 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.
This duplex contains two residential units, each arranged with 3 bedrooms, 2 bathrooms, and a 2-car garage. The interiors feature new kitchens and baths, vinyl and tile flooring, central air conditioning, electric heating, ceiling fans, and electric cooling. Built in 1993, the wood-frame property has vinyl siding and a shingle roof. The building totals 3938 square feet on a 0.334-acre lot and is zoned RM-2.
The property is located at 13511 Siesta Pines Ct, Fort Myers, FL 33908, approximately 3 miles from Sanibal Island and 5.5 miles from Fort Myers Beach. There is no association, and the remarks indicate no restrictions. The two-unit configuration supports residential occupancy, including the stated potential for Airbnb or VRBO use, subject to applicable requirements.
The property is located at 13511 Siesta Pines Ct, Fort Myers, FL 33908, approximately 3 miles from Sanibal Island and 5.5 miles from Fort Myers Beach. There is no association, and the remarks indicate no restrictions. The two-unit configuration supports residential occupancy, including the stated potential for Airbnb or VRBO use, subject to applicable requirements.
Key Highlights
- Two residential units, each with 3 bedrooms, 2 baths, and a 2‑car garage
- 3938 square feet on a 0.334‑acre lot
- New kitchens and baths in both units
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
$52,125
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
6.73%
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%
$1,042,500
$1.0M
Cap Rate 7%
$744,643
$744.6K
Cap Rate 9%
$579,167
$579.2K
Market Conditions
NOI Build-Up for 3,938 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
$78.0K $19.80/SF
− Vacancy
−$3.5K −$0.89/SF
EGI
$74.5K $18.91/SF
− OpEx
−$22.3K −$5.67/SF
NOI
$52.1K $13.24/SF
Area
Lee County, 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%
$1,042,500
Cap Rate 7%
$744,643
Cap Rate 9%
$579,167
Alternative Uses
Best Use
Multifamily LT 5
$744.6K
$651.6K – $868.8K
NOI $52,125 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$690.1K
$603.8K – $805.1K
NOI $48,304 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,762 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
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 - Two residential units offer new kitchens and baths, attached two-car garages, central air, and flexible occupancy options.
Where is this duplex located?
The property is located at 13511 Siesta Pines Ct Fort Myers, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms, 2 baths, and a 2‑car garage; 3938 square feet on a 0.334‑acre lot; New kitchens and baths in both units
