Duplex Property with Lake
For Sale
$399,000
1971 Wellington St, Naples, FL 34120
Residential, Duplex, NAPLES, FL
Property Size1,417 SF
Lot Size0.13 Acres
Price / SF$281.58
Days on Market204
Property Features for 1971 Wellington St
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Laundry Room, Den, Bedroom 2, Bedroom 1
Parking
2
Patio and Porch features
Patio, Porch
Interior features
Built-In Cabinets, Pantry, Smoke Detectors, Walk-In Closet(s)
Exterior features
Screened Porch, Screened Lanai/Porch
Appliances
Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Self Cleaning Oven, Washer
Subdivision
ORANGE BLOSSOM RANCH
Lot features
Irregular Lot, Irregular Lot
View
Lake
Elementary school
CORWSCREW ELEMENTARY
Middle school
CORWSCREW MIDDLE SCHOOL
High school
PALMETTO RIDGE HIGH SCHOOL.
Standard status
Active
APN
69039005305
Size
1,417 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RANCH AT ORANGE BLOSSOM PHASE 2A LOT 238
Tax Annual Amount
3294
HOA Fee
$2,772 Annually
Legal Description
RANCH AT ORANGE BLOSSOM PHASE 2A LOT 238
Utilities
Sewer type
Private Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water front features
Lake
Water front
1
Amenities
extended screened lanai
water views
landscaped garden
resort pools
spas
basketball courts
tennis courts
pickleball courts
playgrounds
splash pad
social clubhouse
fitness center
kids play area
full catering kitchen & bar
sand volleyball
fishing pier
Building Details
Year built
2018
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile
Building materials
Concrete Block, Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Berkshire Hathaway FL Realty
(239) 659-4200
Listed By:
Monica Vega
(239) 687-6290
Added: Feb 6
Changed: Aug 24
Last Checked: Aug 29 at 1:06AM
MLS# 226004226
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 property is associated with a 1,417-square-foot residence built in 2018. The layout provides three bedrooms, two bathrooms, a den, laundry room, and an open living and dining area. The kitchen includes white cabinetry, granite surfaces, a pantry, and a suite of installed appliances. Tile flooring extends through the main living areas, with carpet elsewhere. A screened lanai and patio overlook the lake and landscaped garden, while the concrete-block and stucco construction is finished with a tile roof. Central electric heating and cooling are provided, along with a private sewer connection.
The property is located in Naples, Florida, within Orange Blossom. Community amenities include two resort pools, two spas, tennis, pickleball and basketball courts, playgrounds, a splash pad, clubhouse, fitness center, catering kitchen and bar, sand volleyball, and a fishing pier. A two-car garage provides additional storage space.
The property is located in Naples, Florida, within Orange Blossom. Community amenities include two resort pools, two spas, tennis, pickleball and basketball courts, playgrounds, a splash pad, clubhouse, fitness center, catering kitchen and bar, sand volleyball, and a fishing pier. A two-car garage provides additional storage space.
Key Highlights
- 1,417‑square‑foot residence on a 0.13‑acre lot
- Three bedrooms, two bathrooms, and a den
- Screened lanai and patio with lake views
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
$20,932
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
5.25%
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%
$418,640
$418.6K
Cap Rate 7%
$299,029
$299.0K
Cap Rate 9%
$232,578
$232.6K
Market Conditions
NOI Build-Up for 1,417 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
$31.5K $22.20/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$29.9K $21.10/SF
− OpEx
−$9.0K −$6.33/SF
NOI
$20.9K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /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%
$418,640
Cap Rate 7%
$299,029
Cap Rate 9%
$232,578
Alternative Uses
Best Use
Multifamily LT 5
$299.0K
$261.7K – $348.9K
NOI $20,932 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$274.8K
$240.5K – $320.7K
NOI $19,239 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$568.7K
$497.6K – $663.5K
NOI $39,809 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 34120, FL
41,026
Population
17,778
Households
2.3
Avg Household Size
43
Median Age
31%
College-Educated
87%
High-School Grad
140.8 sq mi
ZIP Area
291
Density / Sq Mi
$90,695
Median Household Income
$43,959
Median Earnings
$2,067
Median Rent
$456,300
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 - A 2018 Florida residence pairs upgraded finishes with screened outdoor space, lake views, and a two-car garage.
Where is this duplex located?
The property is located at 1971 Wellington St Naples, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,417‑square‑foot residence on a 0.13‑acre lot; Three bedrooms, two bathrooms, and a den; Screened lanai and patio with lake views
