702-704 SE 8th Terrace, Cape Coral, FL 33990
MULTI_FAMILY - Ranch - Cape Coral, FL
- Added:
- Jun 24, 2026
- Days on Market:
- 8
- Last Refresh:
- Jul 1 at 5:06 pm
Property Features for 702-704 SE 8th Terrace
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 5
- Pets allowed
- Yes
- Standard status
- Pending
- APN
- 24-44-23-C2-01068.0290
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CAPE CORAL UNIT 24 BLK 1068 PB 14 PG 77 LOTS 29 + 30
- Tax Annual Amount
- 8249
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2024
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Block, Concrete, Stucco
- Roof type
- Shingle
- Architectural style
- Ranch
Listing agent Mari Ruiz Vallejo License #249528262 (239) 330-5071
Listing office Panther Realty LLC 9160 Corporate Forum Pkwy, #350, Fort Myers, FL (239) 699-1990
Listing date Jun 24, 2026
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.
HighLights
- Fully leased duplex on a corner lot in Cape Coral with both sides occupied by tenants
- Built in 2024: each unit offers 1,237 sq ft with 3 bedrooms and 2 full bathrooms
- Each side includes an attached 1‑car garage
- Utilities: public water and public sewer
- Construction materials include block, concrete, and stucco; roof is shingle
- Central cooling and central/electric heating with vinyl flooring and ceiling fans
Overview
The duplex sits on a desirable corner lot in Cape Coral, providing additional outdoor space and benefiting from improved natural light and curb appeal associated with corner positioning. The lot size is listed at 0.28 acres.
For buyers seeking a ready-to-rent residential income asset, the fact that both sides are already leased is a practical advantage. The listing also notes over $1,000 in monthly cash flow and highlights a 3.75% interest rate buydown for qualified buyers. With newer construction and an institutional ownership profile, the property is presented as a fit for 1031 exchange buyers, portfolio builders, or first-time investors looking for a duplex configured with tenants already in place.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.0k | $19.80 |
| − Vacancy | −$2.2k | −$0.89 |
| EGI | $46.8k | $18.91 |
| − OpEx | −$14.0k | −$5.67 |
| NOI | $32.7k | $13.24 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cape Coral
- County
- Lee
- State
- Florida
- Longitude
- -81.96001
- Latitude
- 26.636775
