Duplex with Attached One-Car
For Sale
$479,900
4934-4932 Viceroy Ct, Cape Coral, FL 33904
MULTI_FAMILY - Other - CAPE CORAL, FL
Property Size2,416 SF
Lot Size0.23 Acres
Price / SF$198.63
Days on Market29
Property Features for 4934-4932 Viceroy Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RML
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
CAPE CORAL
Lot features
Regular, Regular
Standard status
Active
APN
18-45-24-C1-00054.0160
Size
2,416 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 6 PART 3 BLK 54 PB 11 PG 75 LOTS 16 + 17
Tax Annual Amount
7548
Legal Description
CAPE CORAL UNIT 6 PART 3 BLK 54 PB 11 PG 75 LOTS 16 + 17
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Amenities
fenced private back patio
Building Details
Year built
2007
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Jeannette Di Leo
(239) 771-0525
Added: Jul 17
Changed: Aug 13
Last Checked: Aug 14 at 6:06AM
MLS# 226026506
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.
Duplex in Downtown Cape Coral featuring two 3-bedroom, 2-bath units, each with a private attached one-car garage and its own fenced back patio. The property is well-elevated and built with concrete block and stucco, with tile flooring throughout. Heating is central electric, and cooling is electric central air with ceiling fans.
The duplex sits on a 0.23-acre lot with a total size of 2,416 square feet and was built in 2007. The roof is shingle and was replaced in 2022. Water heaters are newer, and the HVAC systems are dated 2019 and 2012, with the 2012 system still running and maintained.
Both units are currently rented, and the property has historically remained occupied with little vacancy.
The duplex sits on a 0.23-acre lot with a total size of 2,416 square feet and was built in 2007. The roof is shingle and was replaced in 2022. Water heaters are newer, and the HVAC systems are dated 2019 and 2012, with the 2012 system still running and maintained.
Both units are currently rented, and the property has historically remained occupied with little vacancy.
Key Highlights
- Zoned RML duplex in Downtown Cape Coral with two 3‑bedroom, 2‑bath units
- 0.23‑acre lot with 2,416 SF total building size
- Each unit has a private attached one‑car garage and a fenced back patio
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
$31,979
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
6.66%
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%
$639,580
$639.6K
Cap Rate 7%
$456,843
$456.8K
Cap Rate 9%
$355,322
$355.3K
Market Conditions
NOI Build-Up for 2,416 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
$47.8K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$45.7K $18.91/SF
− OpEx
−$13.7K −$5.67/SF
NOI
$32.0K $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%
$639,580
Cap Rate 7%
$456,843
Cap Rate 9%
$355,322
Alternative Uses
Best Use
Multifamily LT 5
$456.8K
$399.7K – $533.0K
NOI $31,979 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$423.4K
$370.4K – $493.9K
NOI $29,635 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$626.9K
$548.5K – $731.4K
NOI $43,882 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,254
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 - Duplex in Downtown Cape Coral zoned RML, offering two 3-bedroom, 2-bath units with private fenced patios and attached garages.
Where is this duplex located?
The property is located at 4934-4932 Viceroy Ct Cape Coral, FL.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Zoned RML duplex in Downtown Cape Coral with two 3‑bedroom, 2‑bath units; 0.23‑acre lot with 2,416 SF total building size; Each unit has a private attached one‑car garage and a fenced back patio
