Two-Unit Duplex with City
For Sale
$374,900
1024/1026 NE 8th Place, Cape Coral, FL 33909
Income-producing duplex with two distinct residences and established municipal water and sewer service.
Property Size2,300 SF
Price / SF$163
Days on Market50
Property Features for 1024/1026 NE 8th Place
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1985
Listing Agency:
Sellstate 5 Star Realty
(239) 491-2430
Listed By:
Medway Realty
(941) 375-2456
Source:
Movetosarasotafl
Added: Sep 14
Changed: Nov 1
Last Checked: Nov 1 at 5:59AM
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 Sellstate 5 Star Realty
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Investment Insights
Based on property information with market context.
This duplex, built in 1985, contains approximately 2,300 square feet across two residences. One unit offers three bedrooms and two bathrooms in approximately 1,400 square feet, while the second includes two bedrooms and two bathrooms in approximately 900 square feet. The property is configured for separate occupancy, with one residence currently vacant.
Municipal water and sewer service has been in place for over 5 years. The property is located at 1026 NE 8th Place in Cape Coral, with access to nearby shopping and dining. The two-unit layout provides a defined residential income-property configuration with distinct unit sizes and bedroom counts.
Municipal water and sewer service has been in place for over 5 years. The property is located at 1026 NE 8th Place in Cape Coral, with access to nearby shopping and dining. The two-unit layout provides a defined residential income-property configuration with distinct unit sizes and bedroom counts.
Key Highlights
- Two‑unit duplex at 1026 NE 8th Place, Cape Coral, FL 33909
- Approximately 2,300 square feet across both residences
- 3/2 unit with approximately 1,400 sq. ft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,443
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$608,860
$608.9K
Cap Rate 7%
$434,900
$434.9K
Cap Rate 9%
$338,256
$338.3K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$45.5K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$43.5K $18.91/SF
− OpEx
−$13.0K −$5.67/SF
NOI
$30.4K $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%
$608,860
Cap Rate 7%
$434,900
Cap Rate 9%
$338,256
Alternative Uses
Best Use
Multifamily LT 5
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$403.0K
$352.7K – $470.2K
NOI $28,212 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$596.8K
$522.2K – $696.3K
NOI $41,775 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
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Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
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 - Income-producing duplex with two distinct residences and established municipal water and sewer service.
Where is this duplex located?
The property is located at 1024/1026 NE 8th Place Cape Coral, FL.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two‑unit duplex at 1026 NE 8th Place, Cape Coral, FL 33909; Approximately 2,300 square feet across both residences; 3/2 unit with approximately 1,400 sq. ft.
