Two-Unit
For Sale
$479,000
1018 1018-1020 Se 24th Ave, Cape Coral, FL 33990
Both residences offer three-bedroom, two-bathroom layouts with open-concept living areas and contemporary finishes.
Property Size2,410 SF
Price / SF$198.76
Days on Market63
Property Features for 1018 1018-1020 Se 24th Ave
General Information
Standard status
Active
Size
2,410 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2018
Buildings
1
Listing Agency:
First Step Realty Group
Listed By:
Benjamin Ruiz · License #258032746
(239) 595-3819
Source:
Swfloridarealestate
Added: Aug 17
Changed: Oct 6
Last Checked: Oct 7 at 2:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of First Step Realty Group
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Investment Insights
Based on property information with market context.
Built in 2018, this 2,410-square-foot duplex contains two residences, each with 3 bedrooms and 2 bathrooms. The interiors include open-concept living areas and contemporary finishes, creating a consistent layout across both units. Durable construction built to Miami hurricane building code standards is also noted. Tenants are currently in place, providing an existing income-producing configuration.
The property is located at 1018 1018-1020 SE 24th Ave in Cape Coral, Florida. Schools, Cape Coral Hospital, Publix, Walmart, restaurants, and local parks are within a 5-minute drive. Fort Myers, Sanibel, and Captiva beaches are also described as a short drive away.
The property is located at 1018 1018-1020 SE 24th Ave in Cape Coral, Florida. Schools, Cape Coral Hospital, Publix, Walmart, restaurants, and local parks are within a 5-minute drive. Fort Myers, Sanibel, and Captiva beaches are also described as a short drive away.
Key Highlights
- 2,410‑square‑foot duplex built in 2018
- Two units, each with 3 bedrooms and 2 bathrooms
- Tenants currently in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,899
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,980
$638.0K
Cap Rate 7%
$455,700
$455.7K
Cap Rate 9%
$354,433
$354.4K
Market Conditions
NOI Build-Up for 2,410 SF
Gross rent
$47.7K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.6K $18.91/SF
− OpEx
−$13.7K −$5.67/SF
NOI
$31.9K $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 Rate 5%
$637,980
Cap Rate 7%
$455,700
Cap Rate 9%
$354,433
Alternative Uses
Best Use
Multifamily LT 5
$455.7K
$398.7K – $531.7K
NOI $31,899 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$422.3K
$369.5K – $492.7K
NOI $29,562 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$625.3K
$547.2K – $729.6K
NOI $43,773 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 33990, FL
32,717
Population
15,483
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
89%
High-School Grad
9.3 sq mi
ZIP Area
3,518
Density / Sq Mi
$70,278
Median Household Income
$38,588
Median Earnings
$1,643
Median Rent
$330,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three-bedroom, two-bathroom layouts with open-concept living areas and contemporary finishes.
Where is this duplex located?
The property is located at 1018 1018-1020 Se 24th Ave Cape Coral, FL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 2,410‑square‑foot duplex built in 2018; Two units, each with 3 bedrooms and 2 bathrooms; Tenants currently in place
