Updated Duplex
New
For Sale
$469,000
5601 Eleuthera Way, Naples, FL 34119
Residential, Duplex, NAPLES, FL
Property Size1,540 SF
Price / SF$304.55
Days on Market4
Property Features for 5601 Eleuthera Way
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bedroom 2, Bathroom 2, Den, Bedroom 1, Bathroom 1
Parking
2
Security features
Security System
Patio and Porch features
Porch
Interior features
Foyer, Laundry Tub, Pull Down Stairs, Smoke Detectors, Vaulted Ceiling(s)
Exterior features
Tiki Hut, Screened Lanai/Porch
Appliances
Electric Cooktop, Dishwasher, Disposal, Dryer, Freezer, Microwave, Refrigerator/Freezer, Self Cleaning Oven, Washer
Subdivision
ISLAND WALK
Lot features
Corner Lot, Corner Lot
Elementary school
VINEYARDS
Middle school
OAKRIDGE
High school
BARRON COLLIER
Standard status
Active
APN
52250004969
Size
1,540 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
ISLANDWALK PHASE ONE LOT 174
Tax Annual Amount
1951
HOA Fee
$6,288 Annually
Legal Description
ISLANDWALK PHASE ONE LOT 174
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Exhaust Fan (Cooling), Ceiling Fan(s)
Amenities
screened lanai
miles of lakes
bike/jog/walking paths
pickle ball
tennis
bocce
resort & lap pool
putting green
fitness center
restaurant
beauty parlor
nail salon
post office
gas station
car wash
Building Details
Year built
1999
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile
Building materials
Poured Concrete, Stucco
Roof type
Tile
Architectural style
Other
Additional Structures
Cabana
Listing Agency:
DomainRealty.com LLC
(239) 301-4301
Listed By:
Bill Pembleton · License #NAPLES-249515219
(239) 248-5899
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 8 at 9:06AM
MLS# 226032256
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 1,540-square-foot duplex property was built in 1999 with steel-reinforced poured-concrete and stucco construction. Recent updates include a new roof and newer water heater, while the interior offers hardwood floors, granite countertops, stainless appliances, plantation shutters, vaulted ceilings, and a screened lanai. The residence also includes a den, laundry room, tile and carpet flooring, central cooling, and electric heating.
Set on a corner lot with landscaped grounds and lake views, the property is located within a professionally managed community with extensive recreational and convenience amenities. Residents have access to lakes, walking and biking paths, pickleball, tennis, bocce, resort and lap pools, a putting green, fitness center, restaurant, beauty services, post office, gas station, and car wash. Naples shopping and dining, as well as Gulf beaches, are nearby.
Set on a corner lot with landscaped grounds and lake views, the property is located within a professionally managed community with extensive recreational and convenience amenities. Residents have access to lakes, walking and biking paths, pickleball, tennis, bocce, resort and lap pools, a putting green, fitness center, restaurant, beauty services, post office, gas station, and car wash. Naples shopping and dining, as well as Gulf beaches, are nearby.
Key Highlights
- 1,540 square feet with 2 bedrooms, 2 bathrooms, and a den
- New roof and newer water heater
- Steel‑reinforced poured‑concrete and stucco construction
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
$22,749
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
4.85%
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%
$454,980
$455.0K
Cap Rate 7%
$324,986
$325.0K
Cap Rate 9%
$252,767
$252.8K
Market Conditions
NOI Build-Up for 1,540 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
$34.2K $22.20/SF
− Vacancy
−$1.7K −$1.10/SF
EGI
$32.5K $21.10/SF
− OpEx
−$9.7K −$6.33/SF
NOI
$22.7K $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%
$454,980
Cap Rate 7%
$324,986
Cap Rate 9%
$252,767
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.2K
NOI $22,749 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$298.7K
$261.4K – $348.5K
NOI $20,909 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$618.1K
$540.8K – $721.1K
NOI $43,265 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 34119, FL
34,933
Population
18,251
Households
1.9
Avg Household Size
53
Median Age
51%
College-Educated
96%
High-School Grad
22.5 sq mi
ZIP Area
1,553
Density / Sq Mi
$109,260
Median Household Income
$53,031
Median Earnings
$1,998
Median Rent
$665,000
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 - Concrete construction with a new roof, screened outdoor living, and extensive community amenities in Naples.
Where is this duplex located?
The property is located at 5601 Eleuthera Way Naples, FL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 1,540 square feet with 2 bedrooms, 2 bathrooms, and a den; New roof and newer water heater; Steel‑reinforced poured‑concrete and stucco construction
