Block-Construction
For Sale
$430,000
1904/1906 French Street, Fort Myers, FL 33916
ResidentialIncome, Fort Myers, FL
Property Size2,340 SF
Lot Size0.18 Acres
Price / SF$183.76
Days on Market13
Property Features for 1904/1906 French Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-12
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 4
Pets allowed
Yes
Subdivision
FAIRDALE
Lot features
Rectangular Lot
Directions
Head east on Dr. Martin Luther King Jr. Blvd (State Road 82) - this runs right through downtown.
Standard status
Active
APN
18-44-25-P3-0320G.0050
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIRDALE
Tax Annual Amount
6829
Legal Description
FAIRDALE
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Block, Concrete
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Rebecca Giacobba · License #456511526
(410) 320-4868
Added: Aug 18
Changed: Aug 27
Last Checked: Aug 30 at 9:06AM
MLS# 2026035114
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.
This duplex was completed in 2023 and contains two residential units within a single block-and-stucco structure. Each unit includes three bedrooms and two bathrooms, providing 2,340 square feet of heated and cooled living area in total. Tile and vinyl flooring, central air, electric heating, and an additional A/C unit installed in 2023 are among the reported improvements. The property also includes a shingle roof, public water, septic service, and a fenced corner lot.
The property is located in the Fairdale subdivision in Fort Myers and carries a Multi-Family zoning designation within the City of Fort Myers. Downtown Fort Myers, shopping, dining, and major roadways are identified as nearby area connections.
The property is located in the Fairdale subdivision in Fort Myers and carries a Multi-Family zoning designation within the City of Fort Myers. Downtown Fort Myers, shopping, dining, and major roadways are identified as nearby area connections.
Key Highlights
- 2023 construction with block and stucco exterior
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,340 square feet of heated/cooled living space
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
$30,973
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
7.20%
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%
$619,460
$619.5K
Cap Rate 7%
$442,471
$442.5K
Cap Rate 9%
$344,144
$344.1K
Market Conditions
NOI Build-Up for 2,340 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
$46.3K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.2K $18.91/SF
− OpEx
−$13.3K −$5.67/SF
NOI
$31.0K $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%
$619,460
Cap Rate 7%
$442,471
Cap Rate 9%
$344,144
Alternative Uses
Best Use
Multifamily LT 5
$442.5K
$387.2K – $516.2K
NOI $30,973 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$736.5K
$644.4K – $859.3K
NOI $51,555 @ 7.0% cap · market cap 11.99%
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
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 33916, FL
25,940
Population
12,480
Households
2.1
Avg Household Size
34
Median Age
21%
College-Educated
81%
High-School Grad
10.3 sq mi
ZIP Area
2,518
Density / Sq Mi
$49,353
Median Household Income
$32,770
Median Earnings
$1,363
Median Rent
$242,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a flexible income-property layout with modern systems and separate living spaces.
Where is this duplex located?
The property is located at 1904/1906 French Street Fort Myers, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2023 construction with block and stucco exterior; Two units, each with 3 bedrooms and 2 bathrooms; 2,340 square feet of heated/cooled living space
