Occupied Duplex with Single-Car
For Sale
$438,900
1040 MELVILLE ROAD, Punta Gorda, FL 33983
A built-in-2019 duplex with two 3-bedroom units, each with private garage access and private entries.
Property Size2,592 SF
Price / SF$169.33
Days on Market53
Property Features for 1040 MELVILLE ROAD
General Information
Standard status
Active
Size
2,592 SF
Total Parking Spaces
1
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2019
Listing Agency:
SUNCOAST PROPERTY MANAGEMENT L
(904) 831-8050
Listed By:
Suzanne Rosborough · License #3157094
(904) 687-7876
Source:
Endlesssummerrealty
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 12 at 5:35AM
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 SUNCOAST PROPERTY MANAGEMENT L
Investment Insights
Based on property information with market context.
This occupied duplex was built in 2019 and contains two spacious 3-bedroom, 2-bath units. Each unit features open-concept living areas and modern finishes, along with private garage access from a single-car garage. The property is described as well-maintained.
Located in the Deep Creek community, the home provides convenient access to I-75, shopping, dining, medical facilities, golf courses, and Gulf Coast beaches. The duplex is situated on an oversized lot in a deed-restricted neighborhood.
The current configuration is 6 bedrooms and 4 bathrooms total across both units, making it a straightforward residential income property for an owner-occupant or investor seeking existing occupancy.
Located in the Deep Creek community, the home provides convenient access to I-75, shopping, dining, medical facilities, golf courses, and Gulf Coast beaches. The duplex is situated on an oversized lot in a deed-restricted neighborhood.
The current configuration is 6 bedrooms and 4 bathrooms total across both units, making it a straightforward residential income property for an owner-occupant or investor seeking existing occupancy.
Key Highlights
- Built in 2019 duplex with two 3‑bedroom, 2‑bath units, totaling 6 bedrooms and 4 baths
- Each unit has open‑concept living areas with modern finishes
- Private entries and private garage access for each 3‑bedroom unit
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
$25,074
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
5.71%
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%
$501,480
$501.5K
Cap Rate 7%
$358,200
$358.2K
Cap Rate 9%
$278,600
$278.6K
Market Conditions
NOI Build-Up for 2,592 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
$44.2K $17.04/SF
− Vacancy
−$8.3K −$3.22/SF
EGI
$35.8K $13.82/SF
− OpEx
−$10.7K −$4.15/SF
NOI
$25.1K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$501,480
Cap Rate 7%
$358,200
Cap Rate 9%
$278,600
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,074 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$326.9K
$286.1K – $381.4K
NOI $22,884 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$848.7K
$742.6K – $990.2K
NOI $59,409 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 33983, FL
16,124
Population
9,114
Households
1.8
Avg Household Size
58
Median Age
22%
College-Educated
94%
High-School Grad
10.6 sq mi
ZIP Area
1,521
Density / Sq Mi
$67,705
Median Household Income
$36,748
Median Earnings
$1,357
Median Rent
$324,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - A built-in-2019 duplex with two 3-bedroom units, each with private garage access and private entries.
Where is this duplex located?
The property is located at 1040 MELVILLE ROAD Punta Gorda, FL.
What is the asking price?
The asking price for this property is $438,900.
What are key features of this property?
This property features: Built in 2019 duplex with two 3‑bedroom, 2‑bath units, totaling 6 bedrooms and 4 baths; Each unit has open‑concept living areas with modern finishes; Private entries and private garage access for each 3‑bedroom unit
