Updated Duplex with Private
For Sale
$599,000
2656 Mangrove St, Naples, FL 34112
Residential Income, Duplex, NAPLES, FL
Property Size1,500 SF
Lot Size0.22 Acres
Price / SF$399.33
Days on Market169
Property Features for 2656 Mangrove St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
394300
Bedrooms
4
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4
Pets allowed
Yes
Fencing
Fenced
Subdivision
HALDEMAN RIVER
Lot features
Dead End, Irregular Lot, Dead End, Irregular Lot
Standard status
Active
APN
48730840000
Size
1,500 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HALDEMAN RIVER BLK F W 64.96FT OF N 36FT LOT 12 + W 64.96FT OF LOTS 13 + 14
Tax Annual Amount
3375
Legal Description
HALDEMAN RIVER BLK F W 64.96FT OF N 36FT LOT 12 + W 64.96FT OF LOTS 13 + 14
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Ceiling Fan(s), Central Air
Amenities
laundry room
fenced backyard
Building Details
Year built
1972
Number of units
2
Flooring type
Carpet, Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Debi Giardello
(239) 877-3469
Added: Mar 13
Changed: Aug 23
Last Checked: Aug 28 at 8:06AM
MLS# 226011429
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 1,500-square-foot duplex contains two residential units, each arranged with two bedrooms, one bathroom, a kitchen, and a living room. Both units have been updated and include access to a shared laundry room with washer and dryer hookups. Concrete block and stucco construction, shingle roofing, tile and carpet flooring, electric central heating, central air conditioning, and ceiling fans are documented. The property was built in 1972 and occupies 0.22 acres.
A fence surrounds the backyard and separates the outdoor areas serving the two units. The duplex is located at 2656 Mangrove St in Naples, Florida, within ZIP Code 34112. A neighboring house on a separate lot at 2662 Mangrove is also offered for sale and includes Gulf access.
A fence surrounds the backyard and separates the outdoor areas serving the two units. The duplex is located at 2656 Mangrove St in Naples, Florida, within ZIP Code 34112. A neighboring house on a separate lot at 2662 Mangrove is also offered for sale and includes Gulf access.
Key Highlights
- Two‑unit duplex totaling 1,500 square feet
- Each unit includes 2 bedrooms, 1 bathroom, kitchen, and living room
- 0.22‑acre lot with fenced backyard areas
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
$22,158
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
3.70%
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%
$443,160
$443.2K
Cap Rate 7%
$316,543
$316.5K
Cap Rate 9%
$246,200
$246.2K
Market Conditions
NOI Build-Up for 1,500 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
$33.3K $22.20/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$31.7K $21.10/SF
− OpEx
−$9.5K −$6.33/SF
NOI
$22.2K $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%
$443,160
Cap Rate 7%
$316,543
Cap Rate 9%
$246,200
Alternative Uses
Best Use
Multifamily LT 5
$316.5K
$277.0K – $369.3K
NOI $22,158 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$290.9K
$254.6K – $339.4K
NOI $20,366 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$602.0K
$526.8K – $702.4K
NOI $42,141 @ 7.0% cap · market cap 7.04%
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
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 34112, FL
26,625
Population
20,626
Households
1.3
Avg Household Size
60
Median Age
35%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
1,799
Density / Sq Mi
$68,838
Median Household Income
$34,300
Median Earnings
$1,529
Median Rent
$293,000
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 two-bedroom units share laundry access, tile and carpet flooring, and central air conditioning.
Where is this duplex located?
The property is located at 2656 Mangrove St Naples, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,500 square feet; Each unit includes 2 bedrooms, 1 bathroom, kitchen, and living room; 0.22‑acre lot with fenced backyard areas
